You probably heard that last week, President Obama and Vice-President Biden met with Federal Reserve Chairman Janet Yellen behind closed doors. That fact alone should have raised eyebrows and for those in-the-know it probably did, for as a matter of normal security protocols, meetings or appearances both of the President and Vice-President in one place and at the same time are strictly limited for security purposes. From this one fact alone one may deduce that the meeting was about "serious matters" but the question is: what exactly?
A number of regular readers here have shared various articles addressing this various question, and thus I share them with the wider readership here for your consideration.
First of all, there is the admission of Goldman Sachs and Wells Fargo to having comitted some deep financial "improprieties":
Here are the two admissions of fact in a nutshell:
The settlement includes a statement of facts to which Goldman has agreed. That statement of facts describes how Goldman made false and misleading representations to prospective investors about the characteristics of the loans it securitized and the ways in which Goldman would protect investors in its RMBS from harm (the quotes in the following paragraphs are from that agreed-upon statement of facts, unless otherwise noted):
Wells Fargo & Co admitted to deceiving the U.S. government into insuring thousands of risky mortgages, as it formally reached a … settlement of a U.S. Department of Justice lawsuit.
According to the settlement, Wells Fargo “admits, acknowledges, and accepts responsibility” for having from 2001 to 2008 falsely certified that many of its home loans qualified for Federal Housing Administration insurance.
The San Francisco-based lender also admitted to having from 2002 to 2010 failed to file timely reports on several thousand loans that had material defects or were badly underwritten ….
And why, asks the first article, should we care? The answer: one cannot have a functioning or sustainable(to use the globalists' favorite word) economy with no rule of law, or, as the case is, one set of rules for most of use, and another set of rules for the corporate criminal class:
Moreover, fraud was one of the main causes of the Great Depression and the Great Recession … which cost tens of trillions of dollars in losses. But nothing has been done to rein in fraud today. And governments have virtually made it official policy not to prosecute fraud criminally. (Background.)
Fraud is an economy-killer, and trying to prevent a depression while allowing a breakdown in the rule of law is like pumping blood into a patient without suturing his gaping wounds.
But what is being left unsaid in this article is what lurks "between the lines": the massive fraud was committed upon the US government, but could only have been "workable" with the knowledge and connivance of the very federal agencies involved in some form or fashion. And this means that one is dealing with a financial system where corruption is the rule. Set that aside in the back of your mind for a moment, and then consider this article about what may ultimately be behind the sudden rush to hold closed meetings: the brewing and festing crisis at Germany's giant Deutschebank and all the toxic derivatives on its books:
Consider just these paragraphs from the above article:
The announced subject matter of the two subsequent meetings are perhaps of more interest: “bank supervisory matter” (Tuesday) and “periodic briefing and discussion on financial markets, institutions, and infrastructure” (Wednesday).
I find the latter two topics in the context of the fact that it appears that the European banking system – to which the U.S. Too Big To Fail Banks are inextricably tied – appears to be melting down.
For me the “tell tale” for the western financial system is Deutsche Bank. Deutsche Bank has emerged as a “rogue” bank of sorts that had taken on a catastrophic amount of reckless credit market risks. Nothwithstanding its literal financial nuclear portfolio of derivatives, DB thrust its balance sheet into every sector of the global economic system that has been melting down over the past 12-24 months including energy, commodities, “Club Med” European banks and junk bonds. It also began to choke to death on bank debt loans to companies like Glencore and Volkswagen.
The trading action in DB’s stock price has been unable to mask the underlying melt-down going on at the Company...
Even our friends at Zero Hedge are pinpointing Deutsche Bank as being at one of the epicenters of whatever it is "they" are discussing behind closed doors:
So what's going on? Well, suffice it to say that no one really seems to know for certain, but whatever it is, it has the banksters typically looking out for their own and no one else. But I strongly suspect this is all part of the ongoing financial mess created by the derivatives bubble whiich ballooned into the quadrillions of dollars during the late 1990s and early 2000s, a crisis that went unnoticed, as I detailed in my book Babylon's Banksters, so long as the mortage component of those derivatives continuing to climb during the housing bubble. When the bubble burst, the derivatives became bad paper (which they always really were), and banks like Deutsche Bank which was left with a large chunk of those derivatives on its books were caught in the squeeze. Add to this the fraudulent nature of many of those mortgages, a little "robo-signing", and you have a banster created crisis. Now we have indictmments in France against a member of the Rothschild family itself.
But that said, we have the usual type of analysis in evidence in all treatments of this story, namely, that hyper-inflation is just around the corner. But we've been hearing this since the bail-outs, and even long before, but it has not happened. If anything, the pressures have been deflationary, as Catherine Fitts and many others have pointed out. So where's all that money going? I suspect, with the revelation of the Panama papers and their clear implication of a large underground and hidden economy, a hidden system of finance, that the standard analyses here again fail. It is, admittedly, high octane speculation, but as we have seen, during all this financial machination, we have also been tracking stories of new energy technologies, and even a story about the USA becoming energy independent in five years, with a large chunk of this being provided by renewable sources. As we've also seen, Saudi Arabia itself senses something is in the air, and has started a two trillion dollar fund to transition its economy to a non-oil based renewable energy economy. This suggests that what these meetings might really be about is not only dealing with the looming banking mess in Europe, but more importantly and at a much more profound and deeper level, the transitioning of the financial system over the long term to a very different energy system and new technologies that keep being reported in the news with a seemingly increasing flow.
See you on the flip side...
- WEATHER CONTROL’S TWO FORGOTTEN EVENTS: THE RAPID CITY FLOOD, ... - June 24, 2019
- MEMBERS: VIDCHAT AFRICAN-EUROPEAN TIME ZONE VIDCHAT JUNE 21 2019 - June 21, 2019
- IRAN, RUSSIA, CHINA, AND THE SILK ROAD - June 21, 2019
- NEWS AND VIEWS FROM THE NEFARIUM JUNE 20 2019 - June 20, 2019
- TIDBIT: MORE ON THE TANKERS FROM THE SAKER - June 19, 2019
- THE TANKER INCIDENT: JAPAN SAYS NOT SO FAST… - June 19, 2019
- AMAIRIKUHN EDGYKAYSHUN AND THE MENSTRUAL EQUALITY ACT - June 18, 2019
- A BIT OF CONFIRMATION ABOUT THOSE PERSIAN GULF ATTACKS? - June 17, 2019
- TIDBIT: THE “B TEAM” AND IRAN - June 17, 2019
- TIDBIT: THIS WEEK’S HONORABLE MENTIONS - June 15, 2019