Central Bank power grab is ongoing. Mass unemployment the result. Throwing small and medium sized businesses to the wall is their agenda. Bailing out of big corporations. Sovietization. Centralisation.
‘Cash is bad’ (COVID makes notes infectious – of course it doesn’t).
‘Banks are bad – abolish local bank credit creation’.
The agreement between Central Bank and the retail banks is being ripped up.
The Central Bank keeps out of money issuance, while retail bank regulate the banks.
The Central Bank will now compete by issuing digital money to every bank account that exists.
The Central Bank will soon be the only bank.
It could be another version of Japan’s Central Bank control, which helped the economy grow. Japan had a huge number of very well run banks all over Japan.
In UK 66% of people work for SMEs. Japan is 80%. SME’s are under direct attack.
Deng Xiao Ping established thousands of banks which released high growth, copying Japan.
The USA used to have large numbers of banks – 30,000. 10,000 banks closed during the Depression. Farmers lost their land. The banks took their lands, and large agri-corporations took over. The Fed has seen banks driven out of business through low interest rates. In Europe, banks are also disappearing. Germany has a vast decentralised banking sector. Still does. These lend to small firms while big banks do not. They are now under threat along with millions of jobs.
On the other hand, there is an attempt being made to stop the Central banks from achieving total dominance.
Setting up community banks is happening in the UK – Hampshire Community Bank in the UK, for example just been set up.
More are planned.
In Europe negative interest rates are already here. It’s bad. This destroys the Community banks. The Central Banks want a centrally run digital currency. We need to stop negative interest rates and open more banks. Central Banks will drive inflation of asset prices, which does not add to GDP, even though it clears negative equity issues. Boosting money growth centrally does not increase productive investment enough, but increases the price of all assets drawing cash away from productive investment.
The problem with asset bubble creation is how to stop it without a crash. Yields become tiny. COVID is acting as an overdue economic collapse generator, so far without an asset price collapse, which Central banks don’t want. The Central Bankers benefit from an economic collapse of businesses as they can buy out the sectors that are closing down, and centralise them.
Wearing your mask is helping the central banks maintain the panic, closing down businesses, centralising power and killing your jobs.
The Central Bankers know that negative interest rate money will never be leant out. The Central Banks know this. Hundreds and hundreds of small banks are disappearing in the Eurozone, as a result of the negative interest rates, forcing them to merge. Power is being rapidly centralised. ‘Don’t listen to what they say. Watch what they are doing.’ They are doing everything they can to drive out retail banking. Digital central banking direct to the public from the Central Banks is competing directly with retail banks. It’s their intention to drive out retail banks, despite their public claims. The COVID scam is all part of the Central Bank power grab of the economy. Don’t wear a mask. It won’t stop COVID. It will help destroy your job, by enabling the Central Banks to keep destroying jobs, businesses and banks, giving them a visible excuse for more catastrophe. COVID is a con.
Banks need positive interest rates to make money. Lowering interest rates stops banks lending. Keynesianism is wrong. Low interest rates stop banks lending. Demand is little different when interest rates fall too low. The rate doesn’t matter. It’s the quantity that matters. Higher rates make banks lend. That stimulates growth. The U curve (short to long term rates) needs to be positive across the spectrum.
TAP – our bank has moved from making much money on interest rates, and now charges a much bigger fee, to compensate themselves for low interest rates.