2013, the beginning of the meltdown of civilization
It began in
mid-March with the Cyprus bank 'heist', by the banks, ordered by the masters of
the EU Empire. A great tragedy is now in the making that could have been avoided
with a Glass Steagall type bank separation law (see: Restoring
the Glass Steagall law).
But it wasn't done. In the wake of this failure the consequence began to unfold,
which, when it is not interrupted promises to destroy civilization and humanity
with it as may intended for the depopulation of the world.
The page was
turned in Cyprus. During the grand official 'heist' in Cyprus, all depositors
with more than EU 100,000 on deposit in banks had 20% of their assets
expropriated, called a 'tax.' In real terms the legalized theft amounted to much
more than 20%, probably well over 40%, because a big portion of the large
deposit accounts were transferred to a "bad bank" that was a part of
the Laiki bank that was forced to liquidate .
Troika, made up of the European Commission, the ECB, and the IMF, had originally
aimed to force the 7 billion in gambling losses by the banks onto the
depositors. This was demanded as a condition for extending new loans to keep the
speculative monetarist system, which is essentially already dead, in operation a
in real terms, none of the depositors had actually lost any money in the grand
official bank 'heist' on March 24, 2013. They only lost their illusion that they
had any real assets remaining on deposit. The assets that they had deposited
into their accounts had been gambled away by the banks long before the day of
the 'heist.' There simply wasn't anything there to be confiscated by the Troika,
except for the depositors' dreams of a wealth that no longer existed by then.
The result is typical for a financial landscape that is unprotected by Glass
Steagall type legislations.
game, where nothing is protected, is such that when a depositor brings financial
assets to a bank for deposit, the bank is allowed to treat them as if they were
a donation. The bank is allowed to take the assets deposited, directly to the
financial derivatives casinos, called the financial markets, and let then ride
there as gambling chips on the roulette tables. The greater the risks are, the
bigger the winnings tend to be. The winnings, of course, belong to the bank. The
depositor gets nothing from the winnings. But if the game goes sour, which
happens sooner or later, the depositor's assets that ride on the chips, suddenly
become the property of different owners. The Cyprus 'heist' illustrates what
happens when all the chips have been gambled away. And since the game of empire
is so extensively rigged, as in the case of the LIBOR rigging, the masters of
empire reap enormous profits in their game, while the depositors are robbed even
of their dreams.
When the President of the so-called
Eurogroup, the Finance Minister of the Netherlands, Jeroen Dijsselbloem is
quoted by Reuters' in a headline, "Cyprus a Template for the EU," the man was
speaking truthfully, because that's how a non-Glass-Steagall system works, or
can work. **1
thus, is the template for the future indeed, not by choice perhaps, but by the simple reason
that the entire EU system is actually bankrupt. By naming Cyprus as a template
for the entire EU, Mr. Dijsselbloem was merely pointing out
the obvious, that there is no real equity left anywhere in the EU financial
system, which sooner or later
needs to be acknowledged. When the inevitable outcome happens, then only the
depositors' dreams become confiscated,
including the dream that in the grand casino of financial derivatives gambling, there
isn't such a thing as "a bank too big to fail." There exist only
"banks too big to bail." He is saying in essence that the Cyprus model is actually the only
possible outcome that can happen in a world where the protection of the Glass Steagall type option is being rejected.
Iceland is the only country that went the Glass Steagall route. Cyprus rejected
this route, together with almost everyone else, and so Cyprus suffers the
consequences, which actually have only just begun to unfold, as everyone else will likewise soon
It is widely
believed that the Cyprus confiscation wasn't large enough as it was carried out,
so that the shutdown of the number-one Bank of Cyprus will be the next step and
soon, followed of course by the complete collapse of the Cypriot economy, and
the collapse of Europe along the same path, and the world thereafter. The former Central Bank Governor of Cyprus, Athanasios Orphanides, was right on the mark,
in saying that the Empire project, which he called "the European project," is
"crashing to Earth."**2
Within 24 hours after the Cyprus crisis 'resolution,'
the bankruptcy of a large Spanish bank was forced with the typical wipe-out of depositors, with the existing stockholders and junior bondholders losing 99.5% of their investments,
including large numbers of depositors who were conned into buying bank stock with their deposits - a kind of fraudulent bank practice
that had been exposed by the famous
Pecora hearings in the Senate Banking Committee, in the United States in 1933.
(see: Spanish Bank Deposits Seized, Cyprus-Style)
behind converting bank deposits into bank stocks became prohibited under the Glass-Steagall Act, but since the Act
has been cancelled, the fraudulent practice is back and is cherished as before in
the world of Empire for its profit potential.
details on the above, see: the LPAC video: Cyprus Template: The Case of Spain)
It can be
said that with the
Cyprus bank 'heist' a page has been turned. Whatever faith in the monetarist system,
especially the banking system, may have still existed previously, exists no more.
When the cover was torn off that "too big to fail" simply means
"too big to bail," a long-standing myth had evaporated. The
consequence may unleash an avalanche that
can rapidly bury the entire system. At this point the only factor left standing
to uphold civilization is our humanity, but on this front there is no one home.
The value that society is placing on its humanity is essentially zero. The value
of humanity is deemed not worth the commitment to support it, and to protect it.
I speak from
experience here. I have set up a fund for donations to raise the perceived value
of our humanity in the eyes of society, by giving aid to persons in critical
The response so far has been a dismal zero, with one exception. Humanity should
see a higher value in itself.
the highest form of life on our planet, with a creative spirit and productive
capacity that mirrors the divine, but in comparison with money the human being
is deemed to have no value. It appears that herein lies the key to the entire
banking collapse process, because without humanity recognizing itself as the
only critical factor of value, it places value where none exists.
indeed the only real critical factor of value, expressed in its creative and
productive actions that enrich the world and its living. Whatever value exists
in currencies and economies is located in the created product of human beings.
Currencies have no other value, and whenever this value is lost or counted as
zero, currencies collapse and everything connected with them disintegrates. See
my video: Love-pains Economics
issues itself financial credits to support creative and productive enterprises
and a banking system that facilitates the process, civilization is secure and
flourishes. Unfortunately humanity has drifted far from this standard without
even recognizing it. It has thereby thrown away the most precious it has, its
human value. See my video: Horse
escape from the grand doom that is presently beginning to unfold is still
possible with protective laws of the Glass Steagall type, the rebuilding of the
world will have to begin with the rebuilding of the value that society places on
itself in the form of universal love and universal humanity. See my video: Queen
of the New Law
critically necessary rebuilding is not achieved then the masters of the game of
empire will destroy the world with war. This now means thermonuclear war - the
final inevitable war if the game of empire is not cancelled - a war that no one
survives. See the chapter: Swimming in
Cyprus crisis was unfolding.
March 25: Emergency International Webcast • Helga
- gaining our freedom from money
Is Prayer Effective on the World
of the Lord's Prayer
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