Brandon Smith
Throughout history, in most cases of economic collapse the societies in question believed they were financially invincible just before their disastrous fall. Rarely does anyone see the edge of the cliff or even the bottom of the abyss before it has swallowed a nation whole. This lack of foresight, however, is not entirely the fault of the public. It is, rather, a consequence caused by the manipulation of the fundamental information available to the public by governments and social gatekeepers.In the years leading up to the Great Depression, numerous mainstream “experts” and politicians were quick to discount the idea of economic collapse, and most people were more than ready to believe them. Equities markets were, of course, the primary tool used to falsely elicit popular optimism. When markets rose, even in spite of other very negative fiscal indicators, the masses were satisfied. In this way, stock markets have become a kind of dopamine switch financial elites can push at any given time to juice the citizenry and distract them from the greater perils of their economic future. During every upswing of stocks, the elites argued that the “corner had been turned,” when in reality the crisis had just begun. Nothing has changed since the crash of 1929. Just look at some of these quotes and decide if the rhetoric sounds familiar today:J
ohn Maynard Keynes in 1927: “We will not have any more crashes in our time.”
H.H. Simmons, president of the New York Stock Exchange, Jan. 12, 1928: “I cannot help but raise a dissenting voice to statements that we are living in a fool’s paradise, and that prosperity in this country must necessarily diminish and recede in the near future.”
Irving Fisher, leading U.S. economist, The New York Times, Sept. 5, 1929: “There may be a recession in stock prices, but not anything in the nature of a crash.”
Harvard Economic Society, Nov. 10, 1929: “… a serious depression seems improbable; [we expect] recovery of business next spring, with further improvement in the fall.”
I hear nearly identical statements from pro-mainstream, pro-dollar skeptics all the time. And all of their assertions rest solely on the illusion of the Dow and the dollar index, not to mention statistics that are sourced from the very government that has much to gain by fooling the public into believing all is well.
In 2009, Paul Krugman, perhaps the worst and most famous economist of our age, lamented on the fact that no one in mainstream finance saw the derivatives and credit crash coming. Yet it is the same kinds of manipulative policies that Krugman champions that caused this collective ignorance in mainstream circles to begin with.
What the past proves, time and time again, is that establishment trained and educated economists are perhaps the most useless of all analysts. They are perpetually wrong. Only independent analysts have ever been able to predict anything of value as far as our economic future — not because they are psychic, but because they have the advantage of standing outside the foggy propaganda of brainwashed financial academia.
I relate these points because the future I am about to suggest here might sound outlandish to some, because it is so contrary to the “official” accounting of our current financial world. It is important to remember that the mainstream, the majority, is almost always wrong and that the truth is very rarely accepted broadly until calamity has already fallen.
I outlined the hard facts behind the reality of economic downturn in my article “We Have Just Witnessed The Last Gasp Of The Global Economy.”
The bottom line is that the stock market, the greatest false indicator of all time, is on the verge of implosion; and the banking elites are positioning themselves to avoid blame for this implosion while the rest of us are being sold on the most elaborate recovery con-game ever conceived. But what is the purpose behind this con-game? Lies are generally only told by those who hope to gain something through deception. What do the elites hope to gain by creating a facade of recovery?
They have openly admitted to the public on numerous occasions EXACTLY what they want — namely, the institution of a truly global and centralized economic system revolving around a highly controlled world currency framework and dominated by a select cult of banking oligarchs. Anyone who claims that this is not the goal is either a liar or an uneducated fool.
I have covered the evidence supporting this program many times in the past, but it would seem with the precariously surreal nature of our world today that much needs repeating. In 1988, the financial magazine 'The Economist' published an article titled “Get ready for a world currency by 2018,” in which it outlined the framework for a global currency system called the “Phoenix” (a hypothetical title), administered by the International Monetary Fund by the year 2018, which would erase all national economic sovereignty and require governments to borrow from the world central banking authority, rather than print, in order to finance their infrastructure programs. This would mean total control by the IMF over member nations as they beg and plead for more capital under the global currency umbrella.
If this sounds familiar, it is because I have been warning about the IMF takeover of the global monetary system for at least six years. The Economist actually admits that the Phoenix system would start out in the format of the Special Drawing Rights basket currency:
The phoenix would probably start as a cocktail of national currencies, just as the Special Drawing Right is today. In time, though, its value against national currencies would cease to matter, because people would choose it for its convenience and the stability of its purchasing power…
The plan is to introduce a basket currency system as an alternative to the dollar as world reserve, then slowly but surely phase out all sovereign currencies until the basket becomes a currency itself - the ONLY currency. Former World Bank Chief Economist Justin Yifu Lin seems to agree with this ideology, arguing that national currencies must be replaced with a supranational currency, and pointing out that no single currency has the strength to stand alone as world reserve:
"I think the dominance of the greenback is the root cause of global financial and economic crises...The solution to this is to replace the national currency with a global currency..."
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