Last week the Federal Reserve released a report predicting that the next print on GDP numbers will likely show a loss of 34.9% in the second quarter. This is the biggest GDP plunge since the Great Depression; even the crash of 2008 doesn’t compare. And when we take into account the fact that the Fed artificially boosts GDP calculations by adding in many non-productive government programs, we have to ask, what are the REAL losses above and beyond what the Fed admits to?
With the supply chain in disarray, many companies (like Apple) are trying to shift their manufacturing base to dodge the pandemic. Of course, none of them want to bring factories back to the US; there’s simply no incentive to do so. And, the small business sector has been crushed by the shutdowns, with the vast majority of those seeking bailout loans still waiting for aid and over 20.5 million employees laid off in April alone.
Needless to say, the economy has been severely affected. The problem is that many people are being led to believe that this event has been triggered by the virus outbreak alone. This is a lie. As I noted back in February in my article ‘Global Centralization Is The Cause Of The Crisis – Not The Cure’, the collapse of the Everything Bubble was well underway long before the pandemic. The crash was started by the Federal Reserve hiking rates into economic weakness at the end of 2018, puncturing the bubble and setting the liquidity crisis in motion.
The pandemic is just the icing on the cake of a collapse that was going to happen anyway. It is also a convenient scapegoat, because now the banking elites are going to escape all the blame for the crash and the public is going to hyperfocus on the coronavirus as the culprit.
As I also warned would happen over the past few months, the Chinese government has been caught in numerous lies surrounding their response to the outbreak, including hiding the true numbers of dead and infected and suppressing information to the rest of the world on the danger of human-to-human transmission. The problem that the public is still not being told about, however, is that the Chinese did not act alone, they had help.
It takes two sides to do the pandemic tango – If air travel had been cut off from China immediately upon the confirmation of the virus spread until the danger could be assessed, the outbreak may have never carried beyond China’s borders. Yet this did not happen. Air travel remained open for weeks from China after the outbreak confirmation. Then, when the virus hit Italy hard, air travel continued from Europe to the US unabated. It was almost as if the establishment WANTED the virus to spread quickly…
I remember some of the idiotic sentiments being passed around in web forums back in January and February. Some people argued that the virus “only infects Asians”. Some people said sarcastically “Oh no, whatever will we do without our new iPhones…!”. And, yet others, including the Trump Administration, argued that the US economy would escape any real harm.
Well, we are a few months into the outbreak and now the US has the largest number of infections in the world. US deaths are already almost triple that of the CDC’s yearly reported 30,000 deaths for the flu. The virus is no Black Plague, but it’s not something to be shrugged off either. If this virus behaves anything like the pandemics of the past, expect it to linger for a couple of years, not just a few months. The lockdowns actually guarantee that this situation will drag on for quite some time.
Apple iPhone sales have crashed 77% in April, right along with almost every other sector of the economy. Clearly, the Trump Administration and Larry Kudlow were either lying to us in February, or they had no idea what they were talking about.
Despite the current reopening hype, the situation is only going to get worse from here on out. Certainly in terms of the economy, but also in terms of the outbreak. The globalists have openly discussed their plans for this pandemic, including a minimum 18 month period of lockdowns and “reopenings”. The public seems to be oblivious to the fact that the plan is for a “1 month open, 2 months closed” cycle going into next year. That’s right, the lockdowns will return.
Certain globalists have slithered out of the swamp to the forefront of media attention recently, and it is interesting to see how transparent the narrative has become. As I have predicted time and time again, during the collapse the very people that helped create the crisis are now suddenly being put on a pedestal by the media as our saviors and some are being presented as “rebels” on the side of conservatives. Here are just a few global elites that have been specifically prominent during this disaster.
Wow, I’m getting incredibly sick of seeing Bill Gates presented in the media lately as some kind of virology guru. Why should we take the advice of a computer programmer on issues of biology and sociopolitical response? Why should we take the advice of an open globalist with an admitted agenda of population control?
Bill Gates is notorious for letting his agendas slip in public forums such as his Ted Talks. In 2010 Gates called for carbon emissions to be reduced to zero (an impossibility without complete de-industrialization and the economic murder of billions of people). In the same talk, he hinted that methods to reduce the population could include “new vaccines and reproductive health services…” He did not elaborate at the time, except to claim that vaccines would lead to “social changes” that would reduce population. Aren’t vaccines supposed to extend people’s lives, thus increasing the population?
We do know that Bill Gates has funded numerous experimental vaccine trials through the World Health Organization, including Polio vaccination programs. It was these same programs that led to viral outbreaks of polio in various countries and hundreds of paralyzed children. In fact, the vaccines caused more cases of polio than the wild-type virus. This if VERIFIED FACT, admitted by the WHO, though numerous leftist media sources have tried to deny it.
At most, the WHO and Gates can claim that the infections were “accidental”. But if this is the case, it would still suggest that vaccines developed by Gates Foundation programs and the WHO should not be trusted. Given Gates’ obsession with depopulation, I think it safer to not allow him to inject viruses (living or dead) into people.
The Gates Foundation was also central in Event 201, a pandemic exercise which “simulated” a coronavirus outbreak and the government and UN response. This exercise took place only a couple of months before the real thing happened. What an incredible coincidence. It is also an incredible coincidence that almost every solution presented in the simulation is now being implemented or suggested around the world during the real pandemic, including the use of tracking apps and immunity passports that violate every level of personal freedom we know.
Gates is not a hero, far from it. In fact, Gates and his ideology benefit greatly from the pandemic.
A dedicated globalist, El-Erian has been everywhere in the economic media lately. As I examined in my Globalist Disinformation Spotlight article, El-Erian is an active promoter of a global currency under the control of the IMF through its Special Drawing Rights basket. He also argued last year that economic swings were “out of the control of central banks” and that they should not be blamed for any financial disruptions. At the same time, El-Erian claimed that the US economy was “strong” and that there was no chance of a recession in 2020.
El-Erian was consistently wrong about almost everything last year, but this year, suddenly, he has been the go-to guy for the economic media. Mohamed has shifted gears entirely in 2020, flip-flopping on his outlook and presenting, finally, a realistic analysis of the situation. He is now being presented as the wise man on the mountain warning us of impending disaster.
This is a classic case of the globalist “savior” narrative in play. They lie about the danger of collapse right up until the collapse becomes obvious to the public, and then they suddenly start warning of the collapse when it is too late for the public to do anything about it. That is to say, they keep the public unprepared and complacent for as long as possible, then act like they predicted the whole mess at the last minute.
The great fake liberty billionaire. A long time globalist, Musk seems like an enigma, but he is really rather simple. As a classic narcissist, Musk switches his persona to ride what he sees as the waves of public sentiment. He wants to be all things to all people and has bought into his own hype. A couple of years ago Musk was a globalist gatekeeper, a top guest of the Global Government Summit, a proponent of universal basic income, and argued in favor of transhumanism.
Musk’s companies are lavished with praise in the media despite their minimal global market share. Being one of the only carmakers in the US does mean Tesla is one of the “biggest” in the US, I suppose (but how often do you actually see a Tesla on the road outside of California?). The problem is Musk survives predominantly by siphoning up billions in government funding and taxpayer dollars. Without such funding, Musk would have been out of business a long time ago. This fact runs contrary to Musk’s new persona as a kind of libertarian, small government businessman.
Also keep in mind that Musk’s business model relies on global warming propaganda flowing out of the same elitist circles he enjoys when he’s not “speaking out” about government tyranny. If carbon controls are not enforced by governments (and if gas prices stay low), Musk’s high-priced electric cars have no market.
While Musk’s companies live primarily on government welfare, the guy acts like he’s some kind of savant, and he has a lot of people fooled on this account on both sides of the political spectrum. It is truly astounding. If he is a “genius” at anything, it is that he is an effective con man.
For now, Musk is attempting to hook into the alternative media and the rise of the liberty movement with his anti-lockdown tweets and sudden opposition to globalism. Has Musk been “red-pilled”? I suspect he will flip-flop again in due course. If Musk wants to cut off all ties to his many friends in the globalist community then perhaps he has turned a new leaf, but I seriously doubt it.
One of the people that helped create the coronavirus outbreak is the leading Trump Administration talking head on the coronavirus response. An avid defender of the WHO and, along with Trump, a defender of China’s rigged data back in January, Fauci is the guy who, in 2015, greenlit the millions of dollars in funding on coronavirus research at the Level 4 lab in Wuhan, China. This is the same lab that is now under investigation for releasing the virus on the world, and Fauci’s funding went directly into research on coronavirus transmission from bats to other mammals.
All I have to ask is, why has this man been at the forefront of the pandemic response for the US? Now in self-isolation for possible infection, perhaps Fauci will fade into the background as he is further exposed as a participant in the creation of this pandemic.
Thunberg is not so much a global elite as she is a useful idiot. A puppet of her activist parents, Thunburg only parrots the same global warming arguments that have already been debunked year after year, yet she continues to be elevated in the mainstream media as a spokes girl for environmentalism. Why? Because the “children are our future”, and leftists love the idea of brainwashed kid activists. If Thunburg is any indication of the next generation, the future is bleak.
While there is still zero concrete evidence that human carbon emissions lead directly to changes in the Earth’s climate, it is true that the climate does “change” over time. Of course, shifts in activity on the gigantic nuclear fusion reactor in space known as THE SUN are probably more responsible for temperature changes on the Earth than the tiny 0.04% of carbon in the Earth’s atmosphere. Don’t tell the political left this, though, or you might be labeled a “climate denier”…
Thunberg and other climate activists have suddenly been pushed to the forefront recently to comment on the pandemic situation. This might seem rather bizarre, but it makes sense when you realize how the pandemic is being exploited by the globalists to achieve certain goals. Every agenda of the globalists from carbon emissions reductions to the suppression of industrial manufacturing to the destruction of large scale farming and even to the reduction of meat in people’s diets is being accomplished right now by the coronavirus and the government shutdowns. Where climate activists failed, the virus is making headway.
Beyond that, climate activists are now arguing that the restrictions put in place because of the pandemic should be KEPT IN PLACE because of global warming. You see how that works? One has nothing to do with the other, but the technocrats will force the public to see them as related if they can. Just “listen to the scientists”, people! Listen and obey the high priests of the Technotronic era. Stop demanding evidence, you aren’t “smart enough” to understand it anyway. Only UN-funded labs have the power to decipher the magical math behind global warming studies.
The pandemic will open the door to many lies and the flood of disinformation the alternative media has been working so hard to counter is going to explode beyond anything we’ve seen in the past. The elites are at a crossroads. They have to turn the public towards supporting collectivism and tyranny now, or they may find themselves facing the business end of a large number of torches and pitchforks. At the bottom, these elites should be in prison, not on TV dictating to the people about how they should behave and what freedoms they should give up during the crisis.
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Called the Georgia Guidestones, the monument is a mystery—nobody knows exactly who commissioned it or why. The only clues to its origin are on a nearby plaque on the ground—which gives the dimensions and explains a series of intricate notches and holes that correspond to the movements of the sun and stars—and the “guides” themselves, directives carved into the rocks. These instructions appear in eight languages ranging from English to Swahili and reflect a peculiar New Age ideology. Some are vaguely eugenic (guide reproduction wisely—improving fitness and diversity); others prescribe standard-issue hippie mysticism (prize truth—beauty—love—seeking harmony with the infinite).
What’s most widely agreed upon—based on the evidence available—is that the Guidestones are meant to instruct the dazed survivors of some impending apocalypse as they attempt to reconstitute civilization. Not everyone is comfortable with this notion. A few days before I visited, the stones had been splattered with polyurethane and spray-painted with graffiti, including slogans like “Death to the new world order.” This defacement was the first serious act of vandalism in the Guidestones’ history, but it was hardly the first objection to their existence. In fact, for more than three decades this uncanny structure in the heart of the Bible Belt has been generating responses that range from enchantment to horror. Supporters (notable among them Yoko Ono) have praised the messages as a stirring call to rational thinking, akin to Thomas Paine’s The Age of Reason. Opponents have attacked them as the Ten Commandments of the Antichrist.
Whoever the anonymous architects of the Guidestones were, they knew what they were doing: The monument is a highly engineered structure that flawlessly tracks the sun. It also manages to engender endless fascination, thanks to a carefully orchestrated aura of mystery. And the stones have attracted plenty of devotees to defend against folks who would like them destroyed. Clearly, whoever had the monument placed here understood one thing very well: People prize what they don’t understand at least as much as what they do.
The story of the Georgia Guidestones began on a Friday afternoon in June 1979, when an elegant gray-haired gentleman showed up in Elbert County, made his way to the offices of Elberton Granite Finishing, and introduced himself as Robert C. Christian. He claimed to represent “a small group of loyal Americans” who had been planning the installation of an unusually large and complex stone monument. Christian had come to Elberton—the county seat and the granite capital of the world—because he believed its quarries produced the finest stone on the planet.
Joe Fendley, Elberton Granite’s president, nodded absently, distracted by the rush to complete his weekly payroll. But when Christian began to describe the monument he had in mind, Fendley stopped what he was doing. Not only was the man asking for stones larger than any that had been quarried in the county, he also wanted them cut, finished, and assembled into some kind of enormous astronomical instrument.
What in the world would it be for? Fendley asked. Christian explained that the structure he had in mind would serve as a compass, calendar, and clock. It would also need to be engraved with a set of guides written in eight of the world’s major languages. And it had to be capable of withstanding the most catastrophic events, so that the shattered remnants of humanity would be able to use those guides to reestablish a better civilization than the one that was about to destroy itself.
Monumental Precision ——————–
Built to survive the apocalypse, the Georgia Guidestones are not merely instructions for the future—the massive granite slabs also function as a clock, calendar, and compass.
The monument sits at the highest point in Elbert County and is oriented to track the sun’s east-west migration year-round.On an equinox or solstice, visitors who stand at the west side of the “mail slot” are positioned to see the sun rise on the horizon.An eye-level hole drilled into the center support stone allows stargazers on the south side to locate Polaris, the North Star.A 7/8-inch hole drilled through the capstone focuses a sunbeam on the center column and at noon pinpoints the day of the year.Text: Erik Malinowski; illustration: Steve Sanford
Fendley is now deceased, but shortly after the Guidestones went up, an Atlanta television reporter asked what he was thinking when he first heard Christian’s plan. “I was thinking, ‘I got a nut in here now. How am I going get him out?'” Fendley said. He attempted to discourage the man by quoting him a price several times higher than for any project commissioned there before. The job would require special tools, heavy equipment, and paid consultants, Fendley explained. But Christian merely nodded and asked how long it would take. Fendley didn’t rightly know—six months, at least. He wouldn’t be able to even consider such an undertaking, he added, until he knew it could be paid for. When Christian asked whether there was a banker in town he considered trustworthy, Fendley saw his chance to unload the strange man and sent him to look for Wyatt Martin, president of the Granite City Bank.
The tall and courtly Martin—the only man in Elberton besides Fendley known to have met R. C. Christian face-to-face—is now 78. “Fendley called me and said, ‘A kook over here wants some kind of crazy monument,'” Martin says. “But when this fella showed up he was wearing a very nice, expensive suit, which made me take him a little more seriously. And he was well-spoken, obviously an educated person.” Martin was naturally taken aback when the man told him straight out that R. C. Christian was a pseudonym. He added that his group had been planning this secretly for 20 years and wanted to remain anonymous forever. “And when he told me what it was he and this group wanted to do, I just about fell over,” Martin says. “I told him, ‘I believe you’d be just as well off to take the money and throw it out in the street into the gutters.’ He just sort of looked at me and shook his head, like he felt kinda sorry for me, and said, ‘You don’t understand.'”
Martin led Christian down the street to the town square, where the city had commissioned a towering Bicentennial Memorial Fountain, which included a ring of 13 granite panels, each roughly 2 by 3 feet, signifying the original colonies. “I told him that was about the biggest project ever undertaken around here, and it was nothing compared to what he was talking about,” Martin says. “That didn’t seem to bother him at all.” Promising to return on Monday, the man went off to charter a plane and spend the weekend scouting locations from the air. “By then I half believed him,” Martin says.
When Christian came back to the bank Monday, Martin explained that he could not proceed unless he could verify the man’s true identity and “get some assurance you can pay for this thing.” Eventually, the two negotiated an agreement: Christian would reveal his real name on the condition that Martin promise to serve as his sole intermediary, sign a confidentiality agreement pledging never to disclose the information to another living soul, and agree to destroy all documents and records related to the project when it was finished. “He said he was going to send the money from different banks across the country,” Martin says, “because he wanted to make sure it couldn’t be traced. He made it clear that he was very serious about secrecy.”
Before leaving town, Christian met again with Fendley and presented the contractor with a shoe box containing a wooden model of the monument he wanted, plus 10 or so pages of detailed specifications. Fendley accepted the model and instructions but remained skeptical until Martin phoned the following Friday to say he had just received a $10,000 deposit. After that, Fendley stopped questioning and started working. “My daddy loved a challenge,” says Fendley’s daughter, Melissa Fendley Caruso, “and he said this was the most challenging project in the history of Elbert County.”
Construction of the Guidestones got under way later that summer. Fendley’s company lovingly documented the progress of the work in hundreds of photographs. Jackhammers were used to gouge 114 feet into the rock at Pyramid Quarry, searching for hunks of granite big enough to yield the final stones. Fendley and his crew held their breath when the first 28-ton slab was lifted to the surface, wondering if their derricks would buckle under the weight. A special burner (essentially a narrowly focused rocket motor used to cut and finish large blocks of granite) was trucked to Elberton to clean and size the stones, and a pair of master stonecutters was hired to smooth them.
Fendley and Martin helped Christian find a suitable site for the Guidestones in Elbert County: a flat-topped hill rising above the pastures of the Double 7 Farms, with vistas in all directions. For $5,000, owner Wayne Mullinex signed over a 5-acre plot. In addition to the payment, Christian granted lifetime cattle-grazing rights to Mullinex and his children, and Mullinex’s construction company got to lay the foundation for the Guidestones.
With the purchase of the land, the Guidestones’ future was set. Christian said good-bye to Fendley at the granite company office, adding, “You’ll never see me again.” Christian then turned and walked out the door—without so much as a handshake.
From then on, Christian communicated solely through Martin, writing a few weeks later to ask that ownership of the land and monument be transferred to Elbert County, which still holds it. Christian reasoned that civic pride would protect it over time. “All of Mr. Christian’s correspondence came from different cities around the country,” Martin says. “He never sent anything from the same place twice.”
Daybreak: A carefully cut slot in the Guidestones’ center column frames the sunrise on solstices and equinoxes.
Photo: Dan WintersThe astrological specifications for the Guidestones were so complex that Fendley had to retain the services of an astronomer from the University of Georgia to help implement the design. The four outer stones were to be oriented based on the limits of the sun’s yearly migration. The center column needed two precisely calibrated features: a hole through which the North Star would be visible at all times, and a slot that was to align with the position of the rising sun during the solstices and equinoxes. The principal component of the capstone was a 7\8-inch aperture through which a beam of sunlight would pass at noon each day, shining on the center stone to indicate the day of the year.
The main feature of the monument, though, would be the 10 dictates carved into both faces of the outer stones, in eight languages: English, Spanish, Russian, Chinese, Arabic, Hebrew, Hindi, and Swahili. A mission statement of sorts (let these be guidestones to an age of reason) was also to be engraved on the sides of the capstone in Egyptian hieroglyphics, classical Greek, Sanskrit, and Babylonian cuneiform. The United Nations provided some of the translations (including those for the dead languages), which were stenciled onto the stones and etched with a sandblaster.
By early 1980, a bulldozer was scraping the Double 7 hilltop to bedrock, where five granite slabs serving as a foundation were laid out in a paddle-wheel design. A 100-foot-tall crane was used to lift the stones into place. Each of the outer rocks was 16 feet 4 inches high, 6 feet 6 inches wide, and 1 foot 7 inches thick. The center column was the same (except only half the width), and the capstone measured 9 feet 8 inches long, 6 feet 6 inches wide, and 1 foot 7 inches thick. Including the foundation stones, the monument’s total weight was almost 240,000 pounds. Covered with sheets of black plastic in preparation for an unveiling on the vernal equinox, the Guidestones towered over the cattle that continued to graze beneath it at the approach of winter’s end.
The monument ignited controversy before it was even finished. The first rumor began among members of the Elberton Granite Association, jealous of the attention being showered on one of their own: Fendley was behind the whole thing, they said, aided by his friend Martin, the banker. The gossip became so poisonous that the two men agreed to take a lie detector test at the Elberton Civic Center. The scandal withered when The Elberton Star reported that they had both passed convincingly, but the publicity brought a new wave of complaints. As word of what was being inscribed spread, Martin recalls, even people he considered friends asked him why he was doing the devil’s work. A local minister, James Travenstead, predicted that “occult groups” would flock to the Guidestones, warning that “someday a sacrifice will take place here.” Those inclined to agree were hardly discouraged by Charlie Clamp, the sandblaster charged with carving each of the 4,000-plus characters on the stones: During the hundreds of hours he spent etching the guides, Clamp said, he had been constantly distracted by “strange music and disjointed voices.”
GRU: The Main Directorate of the General Staff of the Armed Forces of the Russian Federation abbreviated G.U., formerly the Main Intelligence Directorate.
The goal is to reduce the population to an acceptable level. One billion. The rest are expendable.
Are you familiar with the fake alien invasion theory? Listen to these two and you might just get wondering.
The coronavirus pandemic has triggered three crises in parallel: The epidemic itself; a global recession that the International Monetary Fund (IMF) predicts will be bigger than the one that followed the Wall Street Crash of 1929; and new geopolitical tensions, with Trump blocking IMF aid to Iran and China, and defunding the World Health Organization (WHO).
Only one thing is certain: When it is over, most countries will be deeper in debt and there will inevitably be calls for yet more austerity.
On the eve of the pandemic, the combined debts of all the governments, companies and households in the world totalled 322 percent of global GDP.
If the global economy now contracts, while governments spend undreamed-of amounts to support businesses and families, we will be in uncharted territory: there will wartime levels of government debt which, for many middle-income countries, will become unsustainable, alongside squeezed household finances and bankrupt companies.
Once things stabilise, there are only four ways to reduce a debt burden of this size, and none of them look pretty. High inflation can erode the value of the debts – but that means eroding the wealth of the middle class, as well as the rich.
If you are a developed country, with its own currency, you can get the central bank to buy the debt – and that has already started – but you risk the value of your currency falling as a result. Countries that cannot meet their debt repayments can ask for them to be written off – as happened with Greece between 2011 and 2015 – but that only transfers the pain to banks and savers in other countries.
Which leaves austerity. Austerity means making cuts in public spending in order to rebalance the books. The UK, for example, slashed government spending from 46 percent of GDP to 39 percent over a decade after the global financial crisis of 2008. In the process, it destroyed the resilience of its health service, depleted its armed forces and reduced policing and local government services to a bare minimum, with the result that it looked completely unprepared for the coronavirus.
Austerity programmes imposed after 2011, when numerous Eurozone countries had to be bailed out by the IMF and the European Central Bank (ECB), raised unemployment in Greece to 25 percent, and in Spain to 22 percent, triggering social turmoil.
Repeating this, with another 10 years of overcrowded doctors’ surgeries, uncollected rubbish and underpaid nurses and social care workers is, given the public mood in the UK and across Europe, a non-starter. So, what is the answer?
From the left the answer comes, as always: “Tax the rich”. But it is not so easy. First, because so much of the wealth of the top 1 percent is held offshore.
According to research by lawyer James S Henry, companies and rich individuals could be sheltering up to $32 trillion from the tax authorities in tax havens like Panama, Switzerland and the British Virgin Islands.
The year 2019 saw multilateral institutions like the IMF and OECD call for an end to the principle of treating multinational companies as a series of separate national entities, with the power to account away their tax obligations via subsidiaries based offshore.
But calling for stuff is not the same as doing it. And the COVID-19 crisis has, so far, actually weakened the leverage of multilateral institutions. Trump’s decision to remove funds from the WHO, and to block the IMF from helping Iran and China, for example, reflect a trend to make every part of the global order a geopolitical battleground.
The second reason it is going to be hard to rely on taxing the rich alone is that – as the French economist, Thomas Piketty, has shown – the 21st century economy is increasingly geared to generating wealth from assets, not operating profits. Today’s economic elites typically inherit their wealth rather than work for it.
If you have lived through a house-price boom, you will have heard astonished homeowners saying: “My house is earning more than I am.” If your wages are $30,000 a year, but your house rises in value by more than that, it sounds literally true.
Well, for the super-rich, and for banks and other financial companies, that experience is normal. Why innovate and take risks in the real economy when your existing financial assets can “earn” more than you could make by doing so?
Though growth is low, and productivity is poor across the world, the repeated decisions by central banks to pump free money into the financial system – through interest rate cuts and quantitative easing (where they effectively print new money and buy up government debt with it) – creates a one-way bet for anyone who has enough money to seriously invest.
When the dot-com boom collapsed in 2001, the US Federal Reserve slashed interest rates; when the subprime property boom collapsed in 2008, it did the same again and began printing money. Now, with coronavirus – you guessed it – interest rate cuts and free money for those who already have it are the order of the day.
That money – totalling $20 trillion and now set to rise again – is not simply being used to keep airlines running and hi-tech automobile factories from going bust: it inevitably boosts the value of assets too.
Piketty’s solution is to tax wealth on top of the actual incomes of the rich. In a country like the UK, that could mean taxing every stock market transaction; slapping extra taxes on the owners of speculative luxury apartments and second homes; heavily taxing inheritances; and closing the loopholes that let families move their wealth offshore. But when left wing figures like Jeremy Corbyn or Bernie Sanders have suggested doing this, the powerful finance sector lobby has mobilised against them.
At root, many ordinary people are hostile to raising taxes. They see their employer as a lifeline, economic stability as fragile, and are wary about anything that might make their company move to China or the value of their home currency come under threat. And after 40 years of being told to see themselves as acquisitive, competitive individual atoms in a chaotic marketplace, some people are alienated by the very idea of collective investment for the common good.
After the COVID-19 pandemic, it is inevitable that we will see states play a bigger part in economic life: propping up airlines, airports, railway companies and insurers so that life can return to normal. Central banks, which are making extraordinary moves to buy up government debt, will be even more powerful than before. If so, we need a regime change of the mind, too.
Voters need to understand that healthcare services and care homes are struggling because too little taxpayers’ money has been spent on them for decades. We will all have to pay more tax, but rich people and large corporations need to bear the biggest burden.
To achieve that we will have to aggressively shut down the loopholes in the global system, bringing trillions of dollars-worth of wealth out of tax havens and back onshore. We need, in short, to rediscover our belief in collective action.
But I doubt a revolution in attitudes to taxation alone will enough. The long-term stagnation in profits, interest rates and growth are a feature of, not a glitch in, the free market system. To kickstart the transition beyond a carbon economy, and to redistribute wealth downwards – through comprehensive health and welfare systems – you would need to deter rich people and companies from hoarding money at the scale they currently do.
Higher inflation, controls on the cross-border mobility of capital and higher real wages are the traditional ways you do this. And let us not forget – horrifying though these measures sound to today’s elite – they were the basis of “30 glorious years” of growth and innovation after the Second World War.
Right now, conservative politicians all over the world are being forced to take drastic action that goes against every theory in their textbooks. So, we need to rewrite the textbooks and reset the economic model.
The views expressed in this article are the author’s own and do not necessarily reflect Al Jazeera’s editorial stance.
As the coronavirus (COVID-19) pandemic spreads across the world, the search for the manufacturing of a vaccine has begun to take centre stage as a priority for the world’s leading national, business, and scientific bodies.
The Bill & Melinda Gates Foundation has called for global cooperation on Wednesday to help administer COVID-19 vaccines for up to 7 billion people and offered a further US$150 million in funding towards the manufacturing of therapeutics and treatments.
A coronavirus vaccine could take up to 18 months to be fully ready and established as safe for humans, but global authorities and businesses must look towards distribution now, according to the foundation’s chief executive Mark Suzman.
“It’s normal to have, at maximum, hundreds of millions of doses manufactured”, he said.
“When you are dealing with a novel pathogen like COVID-19, as and when we get to identifying a successful vaccine, we are going to need billions of doses.”
“There are 7 billion people on the planet”, he said. “We are going to need to vaccinate nearly every one. There is no manufacturing capacity to do that”, he explained.
The additional funds from the foundation, which was established and is currently owned by mega-billionaire and Microsoft founder Bill Gates and his wife Melinda, will be in addition to the $100 million it already announced in February to aid the international fight against the pandemic.
Much of the money is to support the development of COVID-19 diagnostic tests, therapeutic treatments and vaccines, and to make them globally available, he said.
As well as helping make the vaccines and treatments available globally, it will also be given to developing countries in South Asia and Sub-Saharan Africa, which lack sufficient material and infrastructure to combat the spread.
Some 100 potential vaccines are being developed and tested by scientists around the world but most will fail when it comes to trial, according to Suzman.
“A successful vaccine has to be available for 7 billion people. You need to test if there are unexpected side effects, or side effects within cohorts or groups, whether it’s pregnant women or the elderly or the very young”, said Suzman.
“The vast majority of vaccine candidates fail in those larger trials, the so-called phase-three trials”, he added.
Suzman lauded the work of the World Health Organisation (WHO), which the Gates Foundation is the second-largest funder of behind the United States, describing the body as a “strong, reliable partner”.
The vaccine will be the “fastest” developed in human history, but the production will require billions of dollars in funding, according to Suzman.
Who is working on the vaccine?
On Wednesday, European Commissioner chief Ursula von der Leyen called for a donors’ conference on 4 May to help organise the creation and global distribution networks for the vaccine.
Both China and the United States are currently working on producing a vaccine for COVID-19 and have begun safety studies. However, the US announced on Thursday that it would be withdrawing funds from the WHO.
Scientists at the United Kingdom’s Oxford University have started the process of developing an experimental vaccine and hope to have a million doses ready by September.
For over twenty years Bill Gates and his Foundation, the Bill and Melinda Gates Foundation (BMGF) have been vaccinating foremost children by the millions in remote areas of poor countries, mostly Africa and Asia. Most of their vaccination program had disastrous results, causing the very illness (polio, for example in India) and sterilizing young women (Kenya, with modified tetanus vaccines). Many of the children died. Many of the programs were carried out with the backing of the WHO and – yes – the UN Agency responsible for the Protection of Children, UNICEF.
Most of these vaccination campaigns were implemented without the informed-consent of the children, parents, guardians or teachers, nor with the informed-consent, or with forged consent, of the respective government authorities. In the aftermath, The Gates Foundation was sued by governments around the world, Kenya, India, the Philippines – and more.
Bill Gates has a strange image of himself. He sees himself as The Messiah who saves the world through vaccination – and through population reduction.
Around the time, when the 2010 Rockefeller Report was issued, with its even more infamous “Lock Step” Scenario, precisely the scenario of which we are living the beginning right now, Bill Gates talked on a TED show in California, “Innovating to Zero” about the use of energy.
He used this TED presentation to promote his vaccination programs, literally saying, “If we are doing a real good job vaccinating childen, we can reduce the world population by 10% to 15%”.
This sounds very much like eugenics.
The video, the first 6’45”, “The Truth about Bill Gates and his Disastrous Vaccination Program”, will tell you all about it.
Robert F Kennedy Jr, an avid Defender of Children’s Rights and anti-vaccination activist, has launched a petition sent to the White House, calling for “Investigations into the ‘Bill and Melinda Gates Foundation’ for Medical Malpractice & Crimes Against Humanity“
“At the forefront of this is Bill Gates, who has publicly stated his interest in “reducing population growth” by 10-15%, by means of vaccination. Gates, UNICEF & WHO have already been credibly accused of intentionally sterilizing Kenyan children through the use of a hidden HCG antigen in tetanus vaccines”. (Excerpt from text of Petition)
(At the time of writing, the petition had over 265,000. It requires 100,000 for an answer from the White House)
Video: Robert F. Kennedy Junior
See also brief video featuring Author Bill Still ( 6 min) entitled The Truth about Bill Gates and his disastrous Vaccination Programs around the World
Robert. F. Kennedy Exposes Bill Gates’ Vaccination Agenda
Now Mr. Gates and his allies, including Big-Pharma, WHO, UNICEF, Dr. Anthony Fauci, Director of NIAID / NIH, a close ally of Mr. Gates – and of course, Agenda ID2020, are proposing to (force) vaccinate 7 billion people around the globe, with their concoction of a (so far) untested coronavirus vaccine. This is a multi-billion dollar bonanza for Big Pharma and for all those who support the vaccine. Nobody will really know what the vaccine cocktail will contain. They intend to start with the Global South (Developing Countries) and then gradually move North (Developed Countries).
Mind you, there is no need for a vaccine to cure the corona virus. There are many cures:
French Professor Didier Raoult, who is one of the world’s top 5 scientists on communicable diseases, suggested the use of hydroxychloroquine (Chloroquine or Plaquenil), a well-known, simple, and inexpensive drug, also used to fight Malaria, and that has shown efficacy with previous coronaviruses such as SARS. By mid-February 2020, clinical trials at his institute and in China already confirmed that the drug could reduce the viral load and bring spectacular improvement. Chinese scientists published their first trials on more than 100 patients and announced that the Chinese National Health Commission would recommend Chloroquine in their new guidelines to treat Covid-19. (Peter Koenig, April 1, 2020)
Be aware, awake, alert and warned.
Peter Koenig is an economist and geopolitical analyst. He is also a water resources and environmental specialist. He worked for over 30 years with the World Bank and the World Health Organization around the world in the fields of environment and water. He lectures at universities in the US, Europe and South America. He writes regularly for Global Research; ICH; RT; Sputnik; PressTV; The 21st Century; Greanville Post; Defend Democracy Press, TeleSUR; The Saker Blog, the New Eastern Outlook (NEO); and other internet sites. He is the author of Implosion – An Economic Thriller about War, Environmental Destruction and Corporate Greed – fiction based on facts and on 30 years of World Bank experience around the globe. He is also a co-author of The World Order and Revolution! – Essays from the Resistance.
Peter Koenig is a Research Associate of the Centre for Research on Globalization.