Yellen and Gringotts Goblins
...The Wizardry of Derivatives
The evolving media narrative has much to do with Davos troll, Janet Yellen, US Treasury lapdog and maintenance director for the Central Bank’s financial influence over US Taxpayers—aka, US citizens who have been ripped off since the creation of the FED in 1913.
Having a sense of humor is necessary or the blood pressure rises and anxiety increases as the bank account dwindles. To this end, has anyone else noticed that Janet Yellen resembles a Gringotts banker from Harry Potter? How apt that JK Rowling created a Wizarding Bank operated by goblins. The entirety of the fiat-fiasco and derivatives voodoo suggests wizardry. Humans love magic tricks, or the idea of winning the lotto. It’s one of our endearing foibles, and in the end—a fatal flaw? Rowling’s own literary wizardry gave us a reflection of the all-too-human parallels in the real world. Just as “Wizard of Oz” author, L. Frank Baum and “Lord of the Rings” author, J.R.R. Tolkien gave us a roadmap to the depths of the human psyche(and plausibly, clues re the mysteries hidden in dustbins of history). Beyond the psychological spectrum that these authors have provided, one might presume that the realm of demonic entities and black-op magicians working a financial angle seem more real by the hour. And nowhere is this more evident than in today’s banking narratives.
Perhaps some people may consider my comparison of Yellen to a Gringotts’ goblin as mean-spirited. However, the BailOut in 2008, and the creation of the FED in 1913, were far more cruel than anything I might say about Yellen’s appearance. Besides, would she actually care about what I say, let alone care about any criticisms coming from any member of the press corps? Yellen obviously understands that she lives in an insular realm of make-believe mathematical equations enmeshed in semantic voodoo churned out by Harvard’s Department of Economics. Mostly the corporate Media’s bank news acts as if it’s somehow untainted by the FED’s twisted tales of economic reality. The Media’s bank news narrative plays along with the fictitious and amazing standard operating definitions of the so-called “economic” facts. In the end, Yellen is just a storyteller, another script reader working for the Davos Trolls. Just as the WSJ and NY Times have always carried the torch for the FED and its constituents—Goldman Sachs. The Ivory Tower syndrome is most evident in the mythical place we call Wall St. The Stock Market began on December 13, 1711 as a slave trade venture and evolved from there—until it reached its absolute pinnacle as a master wizard’s sleight of hand-hat trick. [*footnote below]
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The following is a compendium of views and sources worthy of deeper study.
In Matt Stoller’s recent, and detailed history of FED flaws dating back to the 1960’s and 70’s he ends the article with:
“…banking is a public utility service, and we have to start treating it that way. The Fed won’t. And it will destroy our economy and society rather than admit it.”
The article’s conclusion is all we need to know from this day forward in March of 2023, although I highly recommend reading the entirety of Stoller’s historical article for perspective. The finer points in analyzing how Government thinks and makes its decisions are invaluable. Also included in Stoller’s article is a review of Alan Greenspan’s contributions to the FED beast itself.
One detail in particular has to do with how the FED actually made a move to protect U.S. citizens from the Bank’s overreach and power over our government(when the FED still cared a bit more for the US taxpayers):
“…Ultimately, the 1970 Amendments to the Bank Holding Company Act empowered the Federal Reserve to prohibit banks from co-mingling with commerce through holding companies. In the next two years, the Fed broke up 89 conglomerates, and stopped big banks from buying their way into insurance, land development, data processing, and management consulting. Everyone who had formed a bank holding company starting in 1968, when the rush began, had to divest their non-bank assets…”
This detail suggests that the levels of corruption that we now consider the ‘new normal’ has reached its apex, and we cannot go forward until we address the failures of the FED model and the inherent problems associated with banks owning us and our governments. [*Matt Stoller’s article link may be found below.]
DERIVATIVES AND THE HOUSE OF CARDS—SVB AND BEYOND
Ellen Brown-The Looming Quadrillion Dollar Derivatives Tsunami:
“Technically, the cutoff for SIFIs is $250 billion in assets. However, the reason they are called “systemically important” is not their asset size but the fact that their failure could bring down the whole financial system. That designation comes chiefly from their exposure to derivatives, the global casino that is so highly interconnected that it is a “house of cards.” Pull out one card and the whole house collapses. SVB held $27.7 billion in derivatives, no small sum, but it is only .05% of the $55,387 billion ($55.387 trillion) held by JPMorgan, the largest U.S. derivatives bank."
Brown’s Report continues:
“Financial Weapons of Mass Destruction”
“In 2002, mega-investor Warren Buffett wrote that derivatives were “financial weapons of mass destruction.” At that time, their total “notional” value (the value of the underlying assets from which the “derivatives” were “derived”) was estimated at $56 trillion. Investopedia reported in May 2022 that the derivatives bubble had reached an estimated $600 trillion according to the Bank for International Settlements (BIS), and that the total is often estimated at over $1 quadrillion. No one knows for sure, because most of the trades are done privately."
The trouble with derivatives:
“The original purpose of derivatives was to help farmers and other producers manage the risks of dramatic changes in the markets for raw materials. But in recent times they have exploded into powerful vehicles for leveraged speculation (borrowing to gamble).
In their basic form, derivatives are just bets – a giant casino in which players hedge against a variety of changes in market conditions (interest rates, exchange rates, defaults, etc.). They are sold as insurance against risk, which is passed off to the counterparty to the bet. But the risk is still there, and if the counterparty can’t pay, both parties lose.
In “systemically important” situations, the government winds up footing the bill.”
More:
“British financial commentator Alasdair MacLeod observes that the derivatives market was built on cheap repo credit. But interest rates have shot up and credit is no longer cheap, even for financial institutions.
According to a December 2022 report by the BIS, $80 trillion in foreign exchange derivatives that are off-balance-sheet (documented only in the footnotes of bank reports) are about to reset (roll over at higher interest rates).”—Ellen Brown
For a deeper dive— Ellen Brown’s full report: https://scheerpost.com/2023/03/12/ellen-brown-the-looming-quadrillion-dollar-derivatives-tsunami/
BIS’s Warning—a sure sign that the Tsunami is here.
BABYLON and BEYOND
Reading list:
“Babylon's Banksters: The Alchemy of Deep Physics, High Finance and Ancient Religion”
Joseph P. Farrell outlines the consistent pattern and strategy of bankers in ancient and modern times, and their desire to suppress the public development of alternative physics and energy technologies, usurp the money creating and issuing power of the state, and substitute a facsimile of money-as-debt. Here, Farrell peels back the layers of deception to reveal the possible deep physics that the “banksters” have used to aid them in their financial policies.
The modern-day financial crisis is nothing really new, reveals master researcher Joseph P. Farrell in Babylon’s Banksters. Banking has been tinkered with and controlled for the past thousand years of human history.
More History:
*December 13, 1711: Wall Street was made the site of the government-sanctioned slave market in New York City. In operation until 1762 at the site of one of the original Wall gates on Pearl Street, the market was a wooden building that provided the city with tax dollars from the active trade inside.—https://www.history.com/topics/us-states/wall-street-timeline
HAPPY SPD!
