I warned about soaring Inflation and Interest Rates in 2020. So, what's next?
5th August 2022
It’s August 2022 and this is video no 316.
In November 2020, over 18 months ago, in a video entitled `How they plan to bankrupt us all’, I warned that inflation was going to soar and that interest rates would rise dramatically. I repeated the warning in my book Endgame in March 2021 and then again in my book Social Credit: Nightmare on Your Street which was published in June 2022.
How did I know what was going to happen?
Because it was clearly part of their plan; it was predictable and it was inevitable.
I’ve been predicting a recession since the start of the year – even though almost all other commentators said it wasn’t going to happen. And I warned that it’s going to be far worse than a recession. A big depression is coming. I know people hate hearing gloomy news and forecasts but I’m not going to lie to you. If you want lies and misinformation just turn on the BBC.
What we are about to experience will be far, far worse than anything that happened in the 1930s. Everywhere you look there is evidence showing just how fast the conspirators are making progress. And nowhere is it faster than in the destruction of the global economy.
Natural gas prices have gone up 700% since the start of 2021. They were merely made worse by the designer war. During the first few months of 2022, the world stock market lost $13 trillion. You may not think that matters to you but unless you live in a cave, it does. The Japanese yen has plunged 15.5%. The Nasdaq Composite has fallen by nearly 30% - the worst half year on record since it began – worse than when the dot com bubble burst. Oh, and the Russian rouble has been getting steadily stronger while the UK pound has been getting steadily weaker.
This isn’t just going to be a recession – bad as that is. We‘re heading for a full scale depression. No one alive has ever seen anything like it – since there has never been anything like it.
At the start of 2022 I forecast a recession. And we’re already starting the recession. The next stop will be stagflation. And depression.
And as governments and international bodies such as the world bank and the IMF take ever more power – as they do during a depression – the loss of freedom will be exacerbated.
Listen to this: ‘We were the first to assert that the more complicated the forms of civilisation, the more restricted the freedom of the individual must become.’
Do you know who said that? A certain Mr Mussolini.
And here is Hayek on the perils of socialism: ‘Although we had been warned by some of the greatest political thinkers of the 19th century, by de Tocqueville and Lord Acton, that socialism means slavery, we have steadily moved in the direction of socialism. And now that we have seen a new form of slavery arise before our eyes, we have so completely forgotten the warning, that it scarcely occurs to us that the two things may be connected.’
And Hayek reminds us that Mr Hilaire Belloc, in ‘The Servile State’ (1913) explained that ‘the effect of socialist doctrine on capitalist society is to produce a third thing different from either of its two begetters – to wit, the Servile State.’
Well over 18 months ago I predicted massive inflation and high interest rates. People laughed. The truth about inflation is often forgotten. It is always with us because it is manufactured. When parking meters were first introduced in London it cost 6d to park a car for two hours. That’s two and a half new pence. Try parking a car in London for two and a half pence.
In the UK inflation is well over 10%, the Government says it is 13%. The Bank of England apparently didn’t see it coming or didn’t do anything about it. But it’s here. The figures are similar in the US and in much of the EU they are worse. Unions are calling for strikes – apparently not realising that pushing up wages will merely push inflation higher and make things worse. Exactly the same things are happening around the world.
But I’ll tell you something about inflation: it can only be controlled when interest rates are notably higher than inflation. Today the overall inflation rate in the EU is nearly 10% and in Turkey it is 175%. Up until recently interest rates in the EU were negative. That’s Alice in Wonderland.
When interest rates are around 1% those with savings are losing 9%, 10% or more a year.
Mortgage rates in the US are now around 6%. How many British home owners will survive when they renew their fixed rate mortgages at 6%. How about 15%? How about 20%? The British government has no plan for dealing with the crisis because the crisis was planned. Politicians talk about taxpayers supporting those with mortgages they cannot afford. That would mean more taxes.
Thanks to Sunak, the UK tax burden is already the highest since World War II. Look at the article about Sunak on my website.
We need to grow the economy, to push up production, to develop new companies. But the Government takes every opportunity to tell people to work from home – destroying productivity. People are told to stay home if it’s sunny. Long covid and the useless PCR tests are being used to destroy productivity.
The tax burden will damage everything. And that is just what the conspirators ordered. The government’s debts are as high as in World War II and as interest rates rise they will soar ever higher.
In the UK, the average worker has to work until 8th June to pay off their tax bill. Every penny earned until then goes to the Government. For higher paying tax payers its worse.
The cost of net zero will be £50 billion a year or £185 billion a year in the UK depending on which government department you listen to.
Cars will soon be charged by the mile. And planned 20 mph speed limits will help increase accidents, increase pollution and further destroy the economy.
Government advisers have suddenly noticed the obvious and say that a new source of energy will be required for when the sun isn’t shining and the wind isn’t blowing. There is still talk about nuclear power but it takes 10 years to build a nuclear power station and the climate nutters who seem to control Britain will glue themselves to each other if anyone threatens to build one. The result will be much higher fuel prices. And lower productivity. And yet higher taxes.
There are over 5 million vacant jobs in the UK but there are 5 million unemployed in the UK – living on benefits. And the number is soaring. People were allowed to stay at home, drawing benefits and make no attempt to find work. That is still happening.
Over 50s are retiring in droves because they can’t cope with new regulations and new taxes. And then they need to find jobs to earn money to buy food. What’s going to happen in the cold of winter?
More money goes on licence fees for jobs.
Every job imaginable except one requires an expensive licence and an annual fee. The licences are a waste of time and money. The only people who don’t need licences are politicians though a criminal record or criminal tendency seems a requirement.
Savings are being destroyed. Shares are back to where they were in the 1990s. Pension funds have been destroyed. Tax changes and new regulations mean rents are rising rapidly and landlords are selling their properties – giving up. The number of homeless is set to soar. Companies are trying to survive by reducing quality and increasing prices. Customers pay more for less and feel aggrieved. This isn’t what people expect. They have been taught to believe that the Nanny state will look after them. They’ve been taught to trust the media. Now they’re betrayed, confused, frightened and lost. And it’s only just beginning.
Councils are so broke that they are cutting services. They’re still paying massive pensions to retired executives but cutting services to the old and the sick. And the recycling nonsense will stop soon. I reported over 20 years ago that recycling was a scam designed to encourage compliance. Recently the media have run stories about recycled material being dumped in Turkey. They’re just getting the excuses ready so that they can stop the expensive, diesel consuming recycling nonsense.
Those with civil service pensions and corporate pensions think they’re safe. But they aren’t. Benefits are going to be cut. The UK Government is heading for bankruptcy. Sunak wasted £11 billion when he was Chancellor. The rest of the Government wasted billions more. And even the Government admits that the crazy covid support loans will cost taxpayers £4.9 billion in losses. Wasted PPE rubbish – billions more.
Barbados, Lebanon and Sri Lanka have gone bankrupt. As has Argentina. Corruption is everywhere. The economy is collapsing globally. In 2020 the global debt was 220 trillion dollars. It is now $300 trillion. The world is getting poorer.
In Ireland some banks no longer deal with cash at all. No cash and no cheques. This is leading straight into a global, digital currency controlled by central banks with the scary Bank for International Settlements – that’s the bank that supported the Nazis and made World War II possible – controlling everything and working with the World Government. And Triodos bank, which claims it is the bank for people who want a better world, only seems to me to welcome customers prepared to use its mobile phone app. Not my idea of a better world.
It’s all part of the plan to push towards digital money and banking online. Goodbye freedom, goodbye privacy, goodbye humanity. Boycott any bank which won’t take cash or which expects you to use a mobile phone or an app.
Governments everywhere will have to push up interest rates dramatically to hold inflation back. Thousands of companies and individuals will go bust. No country on earth is immune. The US and the UK and all of Europe could go bust. Pension payments will have to stop. Benefits will be cut or will stop. Spending on health and education will be slashed as billions more are spent on bombs for Ukraine. The cost of rebuilding Ukraine will cost a trillion dollars. And who will pay for that. NATO is preparing for war – an expensive war. The head of the British armed forces says we must be ready for war. The arms companies will be very happy.
In China they are talking of maintaining zero covid policies for five years while they tighten up social credit rules. Mass testing and travel curbs will continue.
Pakistan has borrowed huge sums from the IMF. Will they ever pay it back? Probably not. The IMF is collecting debts and with the debts come power.
It’s happening globally.
When economies crash the number of people dying always soars. In the US, add one per cent to the unemployment figures and 40,000 people die. Undertakers and possibly florists will be the only businesses which can expect boom times.
Local councils will go bankrupt. Services will be slashed. Libraries, leisure centres and swimming pools will go. How long will bin collections continue? How long will schools stay open? Jobs will have to be cut.
And as the cost of food and fuel soars so there will be more and more strikes, pushing up inflation. Doctors in the UK want a 30% pay rise. A massive pay rise will destroy what is left of the failed NHS.
There are long lists of forthcoming strikes. And the lists are endless and growing daily. Unions are demanding pay rises to match inflation. The big and powerful – backed and encouraged by the conspirators – will get what they demand. And the poor, the sick and the elderly will suffer as the greedy unions pushes inflation ever higher. Unemployment is going to soar as businesses go bust. House prices will collapse and repossessions will rise dramatically. Billions are being spent on the war in Ukraine and displaced Ukrainians will be a huge drag on stretched economies.
Remember, the only way to control inflation is to take interest rates higher than inflation. Do the central banks want to control inflation? Either way economic chaos lies ahead. Either interest rates will hit 15% throughout the world or inflation will soar way out of control.
This war is now overtly about social credit – as I warned in my video Social Credit: Nightmare on Your Street – and it is about money.
Already, there are groups threatening not to pay their energy bills. That will push up the costs for people who do pay their bills. There will be civil unrest, illegal marches and illegal demonstrations because people will demonstrate where money is immediately concerned but they will not demonstrate or complain about the causes of the problem because they do not see the future. They have been brainwashed by the BBC and the rest of the mainstream media and have, I’m afraid, become collaborators in their own downfall.
If the police cannot cope the army will be brought in. Martial law is nothing new in some countries. But in the west it will be a shock. And then the forced vaccinations will be easy to introduce. And lockdowns and travel bans will be nigh on permanent. Under cover of the unrest, more social credit schemes will be introduced. And rationing of fuel, food and even water.
When are people going to wake up? You have to spread the word.
This is the final part of the plan – the death rattle. And remember, months ago I warned that the plan is to make us hate our governments so much that we accept a world government. All around the world that is exactly what is happening. Their evil scheme is unfolding just the way they planned it.
Time is running out rapidly and most people still have no idea what is happening.
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Don’t forget to watch my friend Dr Colin Barron’s amazing, original and brilliant videos. I never miss them.
Please visit my own websites www.vernoncoleman.org and www.vernoncoleman.com. There are free articles and new stuff is added most days. The books section on www.vernoncoleman.org contains details of my banned book Covid 19: Exposing the Lies which is now available at last. Remember, too, I’m banned from all social media. Anything you see with my name on it on Facebook, Telegram, Linked-In, Twitter or anywhere is fake and should be reported.
Finally, although it may feel like it at times, please remember that you are not alone. More and more people are waking up and once they are awake they don’t go back to sleep. We are already a far bigger force than the conspirators would have you believe. Over a third of the populations of the US and UK haven’t had a single covid jab.
If we are going to win this war then we have to fight hard and with determination and passion and the truth. No mask, no test, no jab.
Distrust the government, avoid mass media and fight the lies.
And, remember, we have God on our side.
Thank you for watching an old man in a chair.