Contagion: US Banking Woes, and the Rise of the Great Reset

May 09, 2023

Contagion: US Banking Woes, and the Rise of the Great Reset

Conversations with Peter Koenig and Dr. Jack Rasmus

By Peter Koenig, Michael Welch, and Dr. Jack Rasmus

Global Research, April 28, 2023

“So the problem is that the 2009 crisis wasn’t a systemic crisis, but now, the rising interest rates have created a systemic crisis because the Federal Reserve, by saving the banks’ balance sheets by inflating the prices for capital assets, by saving the wealthiest 10% of the economy from losing any of their money — by solving that problem they’ve boxed themselves into a corner.
“They cannot let interest rates rise without making the entire economy look like Silicon Valley Bank. Because that’s the problem. The assets the banks hold are stuck.”
– Michael Hudson (March 15, 2023) [1]

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As Silvergate Capital and Silicon Valley Bank were beginning to recede in the rear view mirror, the second shoe has finally dropped in the continuing financial bank crisis.

First Republican Bank has now seen its stock decline by 60% this past week following news that in the past month, depositors had withdrawn more than $100 billion. The bleed was shored up partially following the deposits of $30 billion in uninsured deposits by the big banks. [2]

The San Francisco banks intend to sell off unprofitable assets and has just laid of 25% of its workforce, roughly 7,200 employees by the end of the year. [3]

This is a signal that the failures that resulted in early March are not over. And that this latest catastrophe is probably not the last.

The banks typically have less money in their reserves than they lend out at any given time. This worked adequately except in the early thirties when financial times were so devastating that people began run-on-banks, quickly harvesting their own reserves before reserves were withdrawn by other depositors leaving the people behind penniless. Five thousand bank failures resulted then, persuading the Roosevelt administration to bring in the Glass-Steagall Act of 1933 bringing in regulation to thwart the corruption and insider trading permitting such processes. [4][5]

Of course, Glass-Steagall was repealed in 1999 under President Clinton, and other initiatives like Dodd-Frank have since been advanced leaving the board more or less back in 1930s shape again! [6]

But, what if there is more to this than ’30s style greed? What if this is setting the stage for continuing down the path of engineering the destruction of the financial systems in Asia, Latin America and Eastern Europe to the benefit of the key players within Wall Street? What if it’s continuing even within the United States itself as part of the “phase two” of the pivotal “post-COVID” 2020-2023 Great Reset? These are some of the questions we will attempt to get answers to in the latest chapter of the Global Research News Hour. [7]

In the first half hour of the program, we talk with geopolitical activist Peter Koenig about his own review of the World Economic Forum (WEF), their plans to revise the entire world in over 200 different areas through the “Great Reset,” and of a WEF insider boasting about setting the bank failures in motion. He also mentions the “systemic bank” Credit Suisse in Switzerland and how it is linked with the American banks. This is followed by our second half hour featuring economic teacher and journalist Dr. Jack Rasmus providing the fundamentals behind what has happened to the major banks and what is bound to transgress in the months ahead.

Peter Koenig is a geopolitical analyst and a former Senior Economist at the World Bank and the World Health Organization (WHO), where he worked for over 30 years around the world. He lectures at universities in the US, Europe and South America. He writes regularly for online journals and is the author of Implosion – An Economic Thriller about War, Environmental Destruction and Corporate Greed; and co-author of Cynthia McKinney’s book “When China Sneezes: From the Coronavirus Lockdown to the Global Politico-Economic Crisis” (Clarity Press – November 1, 2020).

Peter is a Research Associate of the Centre for Research on Globalization (CRG). He is also a non-resident Senior Fellow of the Chongyang Institute of Renmin University, Beijing.

Dr. Jack Rasmus is author of the books, ‘Central Bankers at the End of Their Ropes’, Clarity Press, 2017 and ‘Alexander Hamilton and the Origins of the Fed’, Lexington Books, 2020. Follow his commentary on the emerging banking crisis on his blog, https://jackrasmus.com; on twitter daily @drjackrasmus; and his weekly radio show, Alternative Visions on the Progressive Radio Network every Friday at 2pm eastern and at

https://alternativevisions.podbean.com

Notes:

The original source of this article is Global Research

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Source: Global Research

International Banking “Crisis” – It’s Only the Beginning

Transcript of an interview with Michael Welch

By Peter Koenig and Michael Welch

Michael Welch (MW): Could you explain how the US banking crisis is affecting other banks outside America?

Peter Koenig (PK): Let me begin by saying everything is connected. And I don’t mean just banking collapses around the world, but COVID, energy shortages, food shortages, the Ukraine War, the economic suicide currently being committed by the European Union, also called wanton deindustrialization, the desperate attempt to introduce all controlling Central Bank Digital Currencies (CBDC), and also the ongoing, just started orchestrated international banking collapse.

Everything is leading to the WEF’s imposed Great Reset, or UN Agenda 2030 — all has started to be implemented basically on January 1, 2020, having been prepared part by part, little by little, maybe as far back as hundred years or more, say at least back to WWI.

As we know international banking is one of the most connected elements of our current society, especially in the west. The collapse of the Silicon Valley Bank (SVB), plus the two other US banks that “failed” almost simultaneously, certainly have an effect on banking around the world. Not as much as when a bigger bank, like Credit Suisse – a so-called systemic bank bites the dust. There are about 30 such “systemic” banks around the globe.

MW: How is Credit Suisse (CS) linked with the financial bank plunging?

PK: Credit Suisse is one of the “systemic banks” – this may be a new term to say “Too Big to Fail” (TBTF). CS was in trouble for at least the last 20 years with international scandals of all kinds – and always a bit on the brink. However, CS did not really have a liquidity problem, as many experts in and outside CS attest to, including the Swiss Financial Market watchdog, or “regulator”, FINMA.

What CS had was a reputational problem, as more and more people realized that CS had a few skeletons in the closet, that could eventually harm it as a bank, the share values kept dropping regularly during the last couple of years.

Then what it takes is a few rumors about an impending collapse – true or false, it doesn’t matter – the rumors prompt a run on the bank, and with that an outflow of capital, massively in the case of Credit Suisse.

The same was the case with SVB. They had no liquidity problem, per se, but rumors brought about a run on the bank and outflow of capital which then eventually led to a quasi-liquidity problem, and regulator take-over.

That’s already one way how the banks are connected, by the methods on how they are destroyed. It’s so easy with today’s bought mainstream media to create rumors, to scare people.

It was pretty much the same with COVID. Without invented fear and an incessant panic-mongering media, it would have been impossible to jab billions of people with an untested poison, that as we see today has caused untold economic and social damage, and injuries and millions and millions of deaths. And we are just at the beginning.

This is one way of how COVID and banking collapse connect: By propaganda manipulated people, and by both leading to the overall objectives of the Great Reset / Agenda 2030.

MW: Could you give details about the fellow from WEF that blabbed about his success in causing the bank failures?

PK: Maybe you mean Klaus Schwab himself, the founder and eternal Chairman of the World Economic Forum.

He blabbered about many of what he calls successes, all of them disasters for the world, for the 99.999% of the population.

Collapsing the international especially western banking system is part of his Great Reset. It means the destruction of the current economic model for which banking is crucial. As we know, perhaps too crucial. Once it’s destroyed, deindustrialization foreseen for the west, follows suit.

The capital of the destroyed banks is not disappearing. It is just flowing into bigger banks and financial giants, à la BlackRock, and / or billionaires accounts. A small elite which eventually is intent to take over the One World Order.

Don’t forget, The Great Reset and Agenda 2030 are all about globalization.

No worries. They will not succeed.

So much evil cannot succeed.

But what you, Michael Welch, and other non-mainstream, online media are doing, is crucial to informing and awakening people.

MW: How does it all tie into the Great Reset?

PK: Engineered banking failures help accumulating capital in certain “centers”, or banking institutions. “Little people”, including share- and bond-holders, as well as depositors, are the losers. Their money is being partly or totally dispossessed by take-overs or bail-outs.

The network of international banks is being destroyed in favor of a few gigantic centers of global banking. It’s the globalist’s dream to fully control and command what is going on in the world, and how can “the system” be modified best to ever more benefit a small elite.

All of this goes hand-in-hand with a planned and massive population reduction – which is already visibly ongoing. So, that eventually the surviving people – “their” plan is less than a billion survivors – would be made transhumans. The commanding Cult’s phantasy is chipping them, so they could be electromagnetically manipulated. That’s what 5G – soon to come 6G – is all about. Transhumans would be like living robots, or slaves.

Abolishing banks and individual bank accounts and the freedom to use your money for the purpose, you, as a human being decide, is part of the Great Reset and Agenda 2030.

MW: How are they “ahead of Schedule” on their plans?

PK: More people are waking up – there is a resistance growing.

So, the execution of their plans must be accelerated; since they, the “entities” behind the WEF’s Great Reset, gave themselves ten years to bring about this fundamental change on how the world operates, following their globalist and eugenist principles.

Will they be able to carry it through in ten years? Well, that’s their target and so far, they seem to be pretty much on track. Now, with people gaining conscience and waking up, they may also organize more resistance movements and throwing here and there a monkey wrench in their diabolical wheels.

So, yes, they are accelerating implementation of their vicious plan. From my point of view, it is visible in at least two areas,

(i) The fast and incessant push by WHO towards their worldwide power grab, meaning taking over literally the authority of all health aspects over and above the sovereignty of each of their 194 member countries.

This may happen as early as 24 May 2023, when the World Health Assembly (WHA) has scheduled a vote on a crucially modified International Health Regulation (IHR) and a new related Pandemic Treaty. They need a two-thirds majority to ratify these “rules” – they are not even laws. This has all been concocted within the last two years or so, in WHO, basically in secret, behind dark curtains. There is no international law which would allow WHO to execute such tyrannical powers. But, if We, the People, let it happen, they may get away with it; and

(ii) The accelerated attempt to introduce Central Bank Digital Currencies, or CBDC. The push for total digitization is everywhere. The collapsing banks will have an impact on our current western monetary system, in as much as the “bail-outs”, or government take-overs that are still to come, will increase the overall liabilities of governments.

To get rid of the mountains of debt – a real pyramid system – there comes the time when debt needs to be wiped out. And the time is now. CBDC is ideal. Cash and related government debt could be eliminated and written down to zero and a new digital and programmable currency could start afresh.

Not only that, but programmable money, together with WHO’s total control over people’s health, would be an absolute tyranny – converting the world into an open prison.

MW: Could this rush in some sense be good news for efforts at resistance?

PK: Not sure.

The only way it could be good is more people may realize what’s going on. Enough people need to be awakened and aware of the machinations, must have totally abandoned trust in their governments, and must be on a train of independent thinking.

While peacefully resisting, they must have the enthusiasm, conviction and thrive towards creating a new independent parallel or not, society. That’s possible. It means, creating small but connected communities with their own local economies, creating new local money based on their economies, with the possibility of interchanging goods and services among different groupings of communities. From then on, evolution of a new society / societies becomes a dynamic process. It’s a challenge, but possible.

Peter is a Research Associate of the Centre for Research on Globalization (CRG). He is also a non-resident Senior Fellow of the Chongyang Institute of Renmin University, Beijing.

Featured image: Credit Suisse, Paradeplatz in Zürich (Switzerland) (Licensed under CC BY-SA 3.0)

The original source of this article is Global Research