It Started on Jekyll Island

The fate of the global economy was decided decades ago as deficits, debts and derivatives started their exponential growth and reached the time bomb phase that we are now in. This final chapter of this 100-year era will end in “a final and total catastrophe of the currency system” as von Mises succinctly articulated.

It started on Jekyll Island

It all started in 1910 when a few senators and bankers, led by JP Morgan, secretly met on Jekyll Island with the purpose to set up the Federal Reserve and so control the banking system. Thus, the Fed was a creation by private bankers and for the benefit of these bankers. Few of them could have imagined the enormous success of their venture as the control of the financial system led to vast fortunes for a very small elite. The back side of these fortunes is global debt of $230 trillion plus unfunded liabilities and derivatives. The total which is in the

So how likely are the above risks and how do you protect against them? Anyone who has followed some of my work will know that I consider all the above risks as guaranteed to materialise.

Currency collapse is already happening with all currencies down 97-99% in the last 100 years. The final 1-3% will happen in the next few years as governments print unlimited amounts of money. But remember that the last 1-3% fall is 100% from here and thus a total destruction of money. So whatever cash you have will be totally worthless in the coming hyperinflationary phase.

Capital controls are likely to start within 12-18 months in many countries including the US. As deficits increase and currencies fall, governments will stop anyone from taking money out of the bank as well as out of the country. This is just the next step in the total control money. We have lately seen FATCA (Foreign Account Tax Compliance), cash bans and the OECD AEOI (Automatic Exchange of bank Information). Capital controls will be the next logical step in an attempt to virtually confiscate money. Governments on the road to bankruptcy will take any desperate measure to control the people and their money.

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