The Rothschild planned financial collapse is only a second wave away

Excerpt from:

"It has been mainly the economic independence of most of the common people which makes them so unruly in these nations, and likely apt to support the sovereignty of their own nations and local control, which is the main obstacle to our plans, and precisely why the severe economic restraints have been necessary under the guise of the pandemic. If the people do not comply, undoubtedly a second wave will come their way, and with that food shortage, and complete government domination in order to usher in all of our proposed changes."

-- Jacob Rothschild admitting this entire magic virus charade was planned and that they have it in mind to kill off as many dissidents as possible through a second wave (of vaccine induced deaths?), government oppression and starvation.


The following reply appears to have been written by Jacob Rothschild himself, in response to Henry Makow’s article, referenced above. It appeared in the comment section on Truthseeker, at the link below:

Is there any Limit to US “Debt”? | The Truthseeker

If authentic, it illustrates exactly how deluded these people really are, seeing themselves as “servants” and “saviours” instead of the criminal mass murderers they really are.

T.h.e.y. can make up whatever legislation, rules, etc. they wish, at least for a little while longer, but those rules will NEVER be law in our Creator’s Eyes (Deut. 4:2, 12:8, 12:32). Which means the AshkeNAZI banksters will never realize their satanic one-world government, but instead will find themselves in The Fire, wishing they could trade all of the things they mistakenly believe they “own” to avoid it.

Isaiah 2:2 And it shall come to pass in the last days, [that] the “mountain*” of the “I AM”'s house shall be established in the top of the mountains, and shall be exalted above the hills; and all nations shall flow unto it.

*mountain is a Biblical code word meaning government; in this case God’s government, which will supersede all worldly governments SOON

Jacob R on August 31, 2020 at 4:51 pm

Dear Henry, you really do go too far when you say things like,
“The criminal cabal in charge has been producing this “money” and stuffing its pockets and those of its friends. Is there any limit to the amount they will produce? If the “debt” doubled to $70 trillion, would it make any difference?”

You cannot say our cartel or cabal is “criminal”. Don’t you see we actually own all of the law makers, and besides whatever we do is quite above any of the laws which apply to the common people. As for stuffing our pockets, the families which make up our network of central banks throughout the world are in fact the main power brokers in the world. That is our right. Your governments demand every year more than they can afford with one deficit budget after another, always saying that this or that is necessary. By indulging them we simply acquire more power and control. It is called “ownership”.

What are we to do, give them our own gold or assests in their borrowing process and never see it again? That is one of the reasons why we have fiat money. It can be made out of nothing and we can make as much as your governments want, so long as they do not spend it on things against our interests or endeavors too far out of our control. Also, we do not simply “give” it too them or there would be hyperinflation all of the time and no confidence in any fiat currency. Rather we “lend” it to them such that if we ever called in all the loans it would bankrupt every government which has been borrowing for years from our banks. Furthermore, we are able to charge interest on what we lend, which usually sustains the value of our own holdings in compensation for the masses getting all of their free stuff, for so many generations and not paying us back for the exercise of our god-like powers in being able to create something out of nothing.

You have to realize that with the development of our central banking systems all over the world, and particularly through global development lending and our investments in places like China, the economy of the world has grown exponentially over the last 100 years. Presently, the US dollar cannot serve the global needs and is being phased out not with a whimper but with the bang of a mushroom cloud in the creation of unlimited trillions. For decades we tried to hide what is now called “the shadow economy” where we worked with the US Fed to create vast amounts of cash out of nothing, to facilitate both business and political interests particularly in developing and and other irascible nations around the world. It made little difference to inflation, as the money seldom made it back to the US or to Europe and it usually came back to our banks anyway.

Since 9/11 when the loss of some of those trillions were being investigated, we have been more open as to the importance of always having enough money on hand to do whatever we want, and quite frankly even if we were to make the US dollar debt to us $70 trillion as you say, what we have found is that people around the world, despite complaining about our alleged abuses of power, still keep demanding the stuff. It is very similar to the heroin industry, which grew out of our venture in China in the 19th century during the opium trade, the more you produce the more people get addicted to the stuff. With our latest batch of 6 trillion, everyone holding dollars, wants their value to be retained, yet in places like China, India, and Russia what they complain about is the unfair power the US is able to wield around the world by being able to draw so much money from our banks and spend it the way they do, particularly on their military and as a political weapon to serve their interests and those of our families.

In this respect, these nations fortunately do not excessively complain against our families controlling the money supply, but rather they tend to focus on the various favored governments which appear to direct the government spending and allocations. They complain mainly against the US and for the most part just about every other nation in the world has agreed to take that power from the US, and allow our central banks to create a new world currency, and to be their banker. It will require, however, a central government to allocate the expenditures when the borrowing from us will be necessary, and of course to enforce trade with this currency on a global scale that central government will need independent military backing. For a good number of decades now the governments of over 190 nations have agreed with this direction and the necessity of there being a one-world government to ensure the necessary financial stability. They are all nations which are part of our web which either have a firmly established central bank in our control or are completely indebted to us for all of our loans from institutions such as the IMF and the World Bank.

The engineering of these new arrangements, which some refer to as the New World Order, however, could not be accomplished by a fiat like we create money. Various nations competing with one another for resources or territories, will not agree just to a global currency, or a global banking system akin to the US Fed, without a central global government for financial enforcement of trade and regulation, and even if they do not agree to a world government, quite frankly places like China and Russia will only continue to feel the abuse of our powers being exercised by favored nations like the US, the UK and Israel.

Then apart from differences between the various governments who are in our direct or indirect control, there are the masses of ordinary people in the world who still believe they have a say in such affairs, which are in fact many steps removed from them. Such a world government which our families have envisioned, will have to give them something in exchange for giving up their local and national controls over trade and commerce. In this respect we have exercised our powers of creating hundreds of billions mainly of fiat-created dollars and “loans” to fund not only the UN but also all of its Agendas, to provide a credible, urgent and existential justifications for the necessity of a one-world government.

To supplant many of alleged “sovereign” of nations particularly in the West, it has been necessary for us to be very generous allowing the borrowing and indebtedness to us to become virtually astronomical. As the governments of the nations have become subservient to us so also are the people of those nations. Whether our sustainability measures are actually necessary or not to cure the problems, like global warming or inequality, which issues our NGO’s, government agencies, media and corporate minions have developed and featured in their various campaigns, what really matters most to us is that there is some real substance to there being a one-world government. We need all the support we can garner through our efforts to convince people everywhere of the “necessity” of a one-world government.

Alternatively, if the people reject our proposal most of the governments in the West are at the mercy of us calling in our loans and bankrupting them, whereas the other nations in which we have less control are at our mercy and discretion of continuing in the present system with the dominance of the US and the very precarious US dollar which in any case has had its day, in our view.

Of course the Covid pandemic is a plandemic, and we through our various think tanks and networks have meticulously planned it over decades. In order for all of the major changes we have planned, including the big one for us of our global bank and one-world currency, the people have to become totally subservient. This is much more difficult to achieve in nations where the people think they have a semblance of freedom, and that is why the governments in these nations have been so extreme with the fear and control tactics we have ordained. It has been mainly the economic independence of most of the common people which makes them so unruly in these nations, and likely apt to opt to support the sovereignty of their own nations and local control, which is the main obstacle to our plans, and precisely why the severe economic restraints have been necessary under the guise of the pandemic. If the people do not comply, undoubtedly a second wave will come their way, and with that food shortages, and complete government domination in order to usher in all of our proposed changes.

One of our most trusted agents who can see the light for a much brighter future, Karl Schwab of the World Economic Forum, has invited more people waking up to the facts of our virtually compete monetary control, to join in with the Great Reset, and to welcome in our New World Order, and our continued running the world, but on a much vaster, greener, smarter, more equal and more centrally-controlled scale, mainly by our families which have served you so well all throughout the 20th century until now.


[Situation Update, July 12, 2022 - China bank collapse under way; Saudi Arabia distances from the petro dollar](The Health Ranger Report: Situation Update, July 12, 2022 - China bank collapse under way; Saudi Arabia distances from the petro dollar)

Situation Update, July 12, 2022 - China bank collapse under way; Saudi Arabia distances from the petro dollar

Jul 12, 2022

0:00 Intro
4:10 Big Story
37:05 Sri Lanka Crisis (Bread shortage)

We Can't Face the UGLY TRUTH - Jewish Supremacism

July 14, 2022


goldman.jpg(Left, Quote from World Jewish Congress Founder Nahum Goldman 1895-1982)

John Kaminski, one of the leading critics of Jewish power sent Phil Giraldi's *"How Jewish is the War Against Russia" *to his list with the remark, "I wish I had written this."

Giraldi says the Jews hate Russia but he doesn't say Organized Jewry wants to subjugate all nations. It has subjugated the West and only Putin stands in its way. Since Giraldi's article mainly rehashes Neocon misdeeds, I was curious if Kaminski had seen my "Creative Destruction" and then 6uild 6ack 6etter which is by far the best explanation of world events today.

Here is my explanation again, followed by Kaminski's reply which was disappointing since he completely ignored the following.

Makow- We can't defend ourselves if we can't even name the enemy.

We face an occult force. Organized Jewry and its minion Freemasonry, are dedicated to destroying civilization.

The plandemic is inspired by the satanic doctrine of "Creative Destruction" found in Cabalist Judaism & Freemasonry. They are beginning their third world war to cover their COVID tracks.

They require the destruction of the old order which was dedicated to fulfilling God's Will.

Then, the "Great Reset" will create a "New World Order" dedicated to serving Satan. Hell on Earth. Satanism.

It's time to stop parsing their lies and focus on the OCCULT nature of the challenge we face.

Humanity suffers from a debilitating cancer. Satanist Jews and Freemasons control our blood supply (the banking system.) They have leveraged their control over government credit to subvert every social institution: government, media, education, religion, medicine, law. Their Communism is the control of every facet of human life.

Putin's invasion is a genuine challenge to the globalist agenda which dooms not only Russia but the whole world. Western goyim are helpless to resist since they have been brainwashed to eschew anything that can be termed "antisemitism."

cabinet-jews.jpg (Jews, 2% of the US pop. dominate Biden adminisation. Where is the diversity?)

Nahum Goldman quote continues.

"All social strata and social formations created by traditional society must be annihilated, individual men and women must be uprooted from their ancestral environment, torn out of their native milieus, no tradition of any type shall be permitted to remain as sacrosanct, traditional social norms must only be viewed as a disease to be eradicated, the ruling dictum of the new order is; nothing is good so everything must be criticized and abolished, everything that was, must be gone.

After destruction of the old order, construction of the new order is a larger and more difficult task. We will have torn out the old limbs from their ancient roots in deep layers, social norms will be lying disorganized and anarchic so they must be blocked against new cultural forms and social categories naturally re-emerging. The general masses will have been first persuaded to join as equals in the first task of destroying their own traditional society and economic culture, but then the new order must be forcibly established through people again being divided and differentiated only in accordance with the new pyramidal hierarchical system of our imposed global monolithic new world order." END QUOTE

After reading this, John Kaminski replied-

I've run into a lot of interesting perspectives on this in recent months. My secret passion has always been prehistory and I'm mining that on a number of levels.

First is the white race came out of the North Pole before the Pole shift as proven by Tilak's Arctic Home in the Vedas and others. They then migrated to the lost civilization of Central Asia and the proto Jewish element was with them even back then, though not necessarily direct forebears of the later Turkic-Mongol khazars. This lost civilization of Takla Makan brought the Brahmanic civilization's caste system to India which later spread to Sumer, Egypt and the Mediterranean. That's one superficial theory.

Then there's James Lee's Tartaria stuff in which civilization keeps getting radically interrupted, destroyed and rebuilt, and history keeps getting rewritten covering up the funny stuff that has happened. In the meantime etheric atmospheric energy which has lighted the world since ancient times continues to be covered up by those peddling so-called fossil fuels.

JohnKaminski-11-3266066457.jpg(John Kaminski, left)

Anatoly Fomenko surely you know about, but I don't think even he knows about the real ancient Russian history since he seems to shrinkwrap Scalinger's historical framework into a much tighter timeline when it should be radically expanded -- and will be.

Recently I accidentally ran across an interesting interview by Sayer Ji of leftie Dean Henderson, who has as good a grip on ancient history as any of us, and he reviewed the whole campus of knowledge and came down surprisingly in favor of remnants of the Nephilim who ruled the Jews all this time and are busily working to destroy everyone else for the same ancient reasons they apparently all have had in mind all this time.

I found this to be appealing because after reading Miguel Serrano's Adolf Hitler the Ultimate Avatar and briefly viewing the legends of the Hyperboreans and the Thule Society it became obvious to me that Yahweh actually is the prince of darkness and Lucifer really is the light bringer and that this dichotomy literally takes human history off the planet to a war in heaven that Zecharia Sitchin exploited so clumsily. I hate bad footnotes.

Top it all off with my recent discovery of Jason Breshears who has as good a grasp of really ancient prehistory as anyone I've encountered and he believes these archontic types have always been sequestered in the the hollow earth and manipulate all the surface civilizations into thinking they are really besieged by ETs, and you have a rough estimation of my current, not unpleasant, orientation. You owe yourself a glimpse of Breshears. He is truly impressive.

So lately I've had this nursery rhyme flitting around in my brain -- Round Earth, flat earth, crater earth, Simulacrum -- especially since I saw that blown up version of what the stars really look like I'm leaning toward Breshears and the simulacrum.

I have a new radio show and next Monday I have Russ Winter on and the first thing I'm going ask him is about those Hyksos dudes Abraham and Joseph and how they brought the proto Hebrews to Egypt with a formula they've been using ever since and in fact right down to the present day. Who they actually are is the biggest question anybody could ever ask.

Hope you are well.

Best wishes,
John K.

Asked if I can repost- "Sure. I need to develop that into a whole essay with more detail. When we know the mainstream is poison, any of those scenarios could be right. And Breshears needs a bigger audience."

Ezra Pound.pngAnother example of the cognitive dissonance - The goyim don't want to face facts. They prefer to cling to the lies they are fed.

Here is economist Michael Hudson talking about "the End of Western Civilization" also oblivious to what is behind it.

The core paragraphs are probably these: "The United States through its New Cold War is aiming at securing precisely such economic tribute from other countries. The coming conflict may last for perhaps twenty years and will determine what kind of political and economic system the world will have. At issue is more than just U.S. hegemony and its dollarized control of international finance and money creation. Politically at issue is the idea of "democracy" that has become a euphemism for an aggressive financial oligarchy seeking to impose itself globally by predatory financial, economic and political control backed by military force.

As I have sought to emphasize, oligarchic control of government has been the distinguishing feature of Western civilization ever since classical antiquity. And the key to this control has been opposition to strong government - that is, civil government strong enough to prevent a creditor oligarchy from emerging and monopolizing control of land and wealth, making itself into a hereditary aristocracy, a rentierclass living off land rents, interest and monopoly privileges that reduce the population at large to austerity."


Satanist Jews and Freemason traitors control money and money controls everyone else. The goyim have been conditioned to believe that objecting to this state of affairs is "antisemitism."

The ugly truth is that humanity is the target of an implacable and diabolical age-old enemy - Jewish supremacism.

Nothing is going to change until the nations take back control of their credit from these miscreants.

All the rest is the sound of human animals at the abattoir.

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US Is "Beyond Bankrupt" - Kim Dotcom Fears "Controlled Demolition" Enabling A "New Dystopian Future"

Tyler Durden's Photo

by Tyler Durden

Saturday, Jun 11, 2022 - 06:44 AM

Authored by Alexandra Bruce via,

New Zealand tech CEO, Kim Dotcom did the math on the United States’ sovereign debt and he tweeted a thread about it, saying it may the most important thread that he may ever make.

Kim explains that US spending and debt have spiraled out of control and the Government can only raise the money it needs by printing more of it, which means that hyperinflation is guaranteed.

He says this has been going on for decades and there’s no way to fix it and that the US got away with this for so long, because US dollar is the world’s reserve currency.

When the US Government prints trillions, it is thereby robbing Americans and the entire world in what he calls the biggest theft in history.

He says the total US debt is at $90 trillion, which together with $169 trillion in US unfunded liabilities totals $259 trillion, which is $778,000 per US citizen or $2,067,000 per US Taxpayer.

Now, the value of all US assets combined: every piece of land, real estate, all savings, all companies, everything that all citizens, businesses, entities and the state own is worth $193 trillion.

Our total debt, $259 trillion minus our total net worth, $193 trillion equals negative $66 trillion of debt and liabilities after every asset in the US has been sold off.

So even if the US could sell all assets at the current value, which is impossible, it would still be broke.

This is where the ‘Great Reset’ comes in and he asks, “Is it a controlled demolition of the global markets, economies and the world as we know it? A shift into a new dystopian future where the elites are the masters of the slaves without the cosmetics of democracy?”

He notes how the world has changed so much in recent years and how nothing seems to make sense anymore.

He sees the blatant corruption and the obvious gaslighting propaganda media and the erosion of our rights but he doesn’t know where it’s all going and he finishes the thread asking, “What’s the end game?”

As Harrison Smith from the American Journal says, “It’s a pyramid scheme. The people perpetrating the pyramid scheme are in charge of everything…they’re going to sacrifice humanity in order to maintain their system…

“The world economy is being collapsed, the food supply system is being destroyed, the energy that we rely on to maintain civilization is being curtailed and eliminated and we’ll be forced into the Great Reset where we will own nothing.”

Former BlackRock stockpicker, Ed Dowd believes that the entire COVID sham was created as a cover for the financial collapse and that new lockdowns are coming, to try mitigate the inevitable violence and chaos that we can expect to be witnessing in the streets.

We also saw how Dr Mike Yeadon, former Pfizer VP also believes that COVID and the death shot are an elaborate hoax to engineer a collapse of sovereign currencies to bring in the Great Reset and the introduction of programmable central bank digital currencies (CBDCs), for a wholly-controlled population, in which people will not be able to buy food, etc. unless the algorithms permit and the undesirables can basically be starved to death via artificial intelligence.

Kim Dotcom June 5, 2022 Thread

(emphasis ours)

This may be the most important thread I ever make. Big picture stuff about the major global collapse that is coming.

I will try to help you understand why the future is not what we’re hoping for. It’s worse than most can imagine.

Our leaders know.
But what are they planning?

The United States did not have a surplus or a balanced budget since 2001. In the last 50 years the US only had 4 years of profit. In fact all the profit the US had would not be enough to pay for 6 months of the current yearly deficit. So how did the US pay for things?

US spending and debt have spiraled out of control and the Govt can only raise the money it needs by printing it. That causes inflation. It’s like taxing you extra because you pay more for the things you need and all your assets decline in value.

See the US money printing frenzy:

The reason why the US got away with it for so long is because USD is the worlds reserve currency. Nations everywhere hold USD as a secure asset. So when the US Govt prints trillions it’s robbing Americans and the entire world. The biggest theft in history.

The problem is that this has been going for decades and there’s now no way to fix it. The reality is that the US has been bankrupt for some time and what’s coming is a nightmare: Mass poverty and a new system of control. Let me explain why this isn’t just doom and gloom talk.

Total US debt is at $90 trillion. US unfunded liabilities are at $169 trillion. Combined that’s $778,000 per US citizen or $2,067,000 per US tax payer 

Remember, the only way the US Government can operate now is by printing more money. Which means hyperinflation is inevitable.

The total value of ALL companies listed on the US stock market is $53 trillion. The real value is much lower because the US has been printing trillions to provide interest free loans to investment banks to pump up the stock market. It’s a scam.

Most of the $53 trillion is air.

The value of all US assets combined, every piece of land, real estate, all savings, all companies, everything that all citizens, businesses, entities and the state own is worth $193 trillion.

That number is also full of air just like the US stock market.

US total debt: $90 trillion

US unfunded liabilities: $169 trillion

Total: $259 trillion

Minus all US assets: $193 trillion

Balance: – $66 trillion

That’s $66 trillion of debt and liabilities after every asset in the US has been sold off.

Do you understand?

So even if the US could sell all assets at the current value, which is impossible, it would still be broke.

The US is beyond bankrupt.
This patient is already dead.
This patient is now a zombie.

You probably wonder why are things still going? Why didn’t everything collapse yet.

It’s all perception, denial and dependency.

The perception is that the US has the largest economy and the strongest military in the world. But in reality the US is broke and can’t afford its army.

The denial is that all nations depend on a strong USD or global markets collapse.

The reason why the US zombie keeps going is because the end of the US is the end of western prosperity and an admission that the current system failed as a model for the world. It doesn’t change the reality. The collapse is inevitable and coming.

What are our leaders planning?

You may have heard about the ‘great reset’ or the ‘new world order’. Is it a controlled demolition of the global markets, economies and the world as we know it?

A shift into a new dystopian future where the elites are the masters of the slaves without the cosmetics of democracy?

Without a controlled demolition the world will collapse for all, including the elites. The world has changed so much and nothing seems to make sense anymore, the blatant corruption is out in the open, the obvious propaganda media, the erosion of our rights.

What’s the end game?

1 Like

Situation Update, Sep 8, 2022 - Western Europe now facing "TOTAL FINANCIAL COLLAPSE" - experts and analysts urgently sound the alarm

Situation Update, Sep 1, 2022 - The engineered TAKEDOWN of food, water and energy infrastructure will plunge entire nations into the Dark Ages

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The economic annihilation of Europe is now inescapable

Gonzalo Lira, the Ukraine-based, Chilean-born American who has made waves with his uncensored videos about Russia and Ukraine, joined me for an epic 2+ hour interview late last night.

He described the coming winter of energy scarcity and economic collapse as causing the "economic annihilation of Europe," adding that in the aftermath of this coming collapse, Western Europe would be transformed into an impoverished, desperate region of the world.

Political leaders of western nations are disconnected from reality and utterly incompetent in their actions. They not only lack any real understanding of economics and war, they fail to grasp fundamental concepts of cause and effect.

Today we publish part one of the interview (this part is about an hour in duration).

1 Like

Global debt markets are breaking - pensions and currencies facing failure


Financial Collapse Is a Mathematical Certainty: The Perfect Storm Threatening the Dollar Hedgemony

Sam Parker of Behind The News Network has written an excellent commentary on the coming financial collapse and the inevitable fall of the U.S. dollar’s status as the global reserve currency.

The Perfect Storm Threatening the Dollar Hedgemony Part 1


Financial Collapse Is a Mathematical Certainty

After the 2008 stock market crash, governments, because the economy collapsed globally, started spending like drunken sailors The last 14 years have been a ballooning of the sovereign debt bond bubble. Who’s going to save that bubble? Who’s going to be the buyer of all that debt when this bubble finally blows up? Answer: No one. Many who are aware of the situation are just surprised the system has lasted this long. It looked like it was ready to burst in September 2019, and then, conveniently, COVID showed up, which granted emergency powers to all central banks. Governments went on another spending spree, printing money, and this allowed them to kick the proverbial can down the road for another two years.

Here we are in 2022 and it’s unraveling again. And the reason why COVID was important is because the Federal Reserve was able to plug the hole in what was beginning to become a liquidity debt crisis.

They printed 65% more money. The money stock went up 65% year over year in 2020/1, and that was able to paper it over. Then, the economy was shut down, so when they reopened with all the money in the system, the US had a recovery for a year and a half. Stock markets went crazy, credit markets went crazy, back up again. But here we are two years later we had inflation in assets, stocks and bonds.

So, when you see the dollar going up, that’s indicative of a debt crisis because money’s becoming tight. There are fewer dollars out there. People are scrambling for dollars. COVID provided cover for the central banks and the governments, but it also allowed for a control system. If everything’s going to collapse, wouldn’t it be nice to have a control system where travel is restricted, you can blame it on a virus; you create vaccine passports, which then get linked to digital IDs, and then central bank digital currency. So, COVID was a convenient excuse. The Rockefeller and Rothschild Empires were prepared to sacrifice the globe in order to save their empires. And six months after the start of the Ukraine war, we find that the Rockefeller Empire is now doing their best to destroy the EU, along with the Rothschild Empire-whose base is Europe. It’s funny how things work.

Lets not forget goldfingers



Situation Update, Nov 3, 2022 - Dollar dominance scheduled for TERMINATION as Saudi Arabia declares CHINA is its priority PARTNER

Dollar dominance scheduled for termination as Saudi Arabia embraces China

The petrodollar is now on its last legs as Saudi Arabia has declared China to be its "reliable partner" for energy and trade. The USA, under the catastrophic leadership of fake president Joe Biden has lost all credibility in the eyes of world leaders.

Once the petrodollar is repudiated by nations around the world, the dollar will collapse in value as nations dump it, sending a flood of dollars back to the USA where they will saturate the domestic economy. The result will be shocking price inflation in consumer goods (including food) followed by a suicide spiral of last-ditch money printing while the Fed buys up stocks, bonds, houses and expiring Treasury debt, effectively leading to self-immolation of the dollar currency.

The government may stop issuing Social Security payments after the debt limit is hit — here’s why

An obscure provision of a 1996 law makes the Social Security trust fund vulnerable

How Social Security’s trust fund might be used to get around the debt limit.

There’s a very real possibility the government will stop issuing Social Security payments after the debt limit is hit.

Scary as that prospect is, however, the alternative might be even worse: A little-known provision of a 1996 law could be interpreted to allow the Social Security trust fund to be used not only to pay Social Security’s monthly checks but also to circumvent the debt limit and pay all the government’s otherwise overdue bills.

If that happens, any short-term relief to Social Security recipients would come with a potentially huge long-term price tag: The Social Security trust fund could be exhausted much sooner than currently projected—in just a couple of years, in fact.

These dire possibilities emerge from an analysis conducted by Steve Robinson, the chief economist for The Concord Coalition, a group that describes itself as “a nonpartisan organization dedicated to educating the public and finding common sense solutions to our nation’s fiscal policy challenges.”

An issue brief he wrote, entitled “Social Security’s Debt Limit Escape Clause,” is available on the group’s website.

Let me hasten to add that Robinson is not advocating that the Social Security trust fund be used in this way. In an interview, he instead stressed that he wrote his issue brief because we need to be aware not only that this “escape clause” exists but that its use could have unintended consequences. Though hardly anyone outside Washington knows that it even exists, and relatively few on Capitol Hill, the Treasury Department and the Social Security Administration are very much aware of it.

Before reviewing the details of this escape clause, it’s worth focusing on the political dynamics that surround it. Because the escape clause lessens the pressure on Congress and the president to come up with a solution to the debt crisis, neither side has an incentive to publicize its existence. But if the government is otherwise pushed to the edge of the fiscal cliff, and it’s facing the potentially huge consequences of an outright default (including the nonpayment of monthly Social Security checks), the political pressure to use the escape clause could be intense.

The 1996 law that creates the escape clause was passed in the wake of the government hitting its debt limit in 1995 and 1996. Ironically, the intent of that law was to prevent the Social Security trust fund from being used for anything other than paying Social Security benefits. But, Robinson explains, that’s unworkable in the real world. That’s because Social Security checks are sent out by the Treasury’s general account, and if that account is in default the checks would bounce.

If and when the debt limit is hit, therefore, the only way—in practice—for Social Security checks to continue being issued and cleared through the banking system would be for the Social Security trust fund to “lend” the Treasury sufficient funds that it could pay all the government’s unmet obligations. (I put “lend” in quotes because that’s not exactly how it works; the key is that the “loan” can be structured in ways that don’t count against the debt limit. If you’re interested in reading more about the complex logistics involved, you should read Robinson’s issue brief.)

Therefore, if the debt limit is hit, which it is projected to do perhaps as early as June, Congress and the president will be on the horns of a huge dilemma:

  • Do they allow Social Security checks to continue getting paid, risking the political fallout of being accused of “raiding” the Social Security trust fund?
  • Or do they stop issuing Social Security payments, risking the political fallout of not issuing Social Security payments, on whom the very livelihoods of many elderly currently depend?

You can appreciate why Congress and the president don’t want us to know that this escape clause exists. Once we are aware of it, they are put in a no-win situation.

So fasten your seat belts for a wild ride in coming months as both parties play political brinkmanship over the debt limit and, by extension, Social Security. With both sides by the day hardening their stances, there’s a very real possibility that the debt limit will be hit.

If that happens, we’ll be hearing a lot more about the little-known provision of a nearly 30-year-old law.

[Social Security payments may stop after the debt limit is hit -- here's why - MarketWatch]

The Jim Price Show: Planned financial collapse seeks to put all banks under one controlled “umbrella” – Brighteon.TV

03/28/2023 / By Belle Carter
Political analyst and public speaker Jim Price believes the collapse of Credit Suisse and other mega-banks is intentionally done to allow globalists to control the movements of money in the market, including purchases.

“This is one of the problems we’re seeing with the credit and banking industry. They are warning that a lot of these banks will fail because they want to put everything under one umbrella and then that way they can control what you can spend your money on,” he said during the March 20 episode of “The Jim Price Show” on Brighteon.TV.

“This is a purposeful collapse and the central banks want all this to happen so you get scared, and would make your money disappear.”

He also touched on the $3.2 billion takeover of Credit Suisse by its rival UBS, which was forcefully assisted by the Swiss government. Alongside this takeover, holders of additional tier 1 (AT1) bonds were angered as their investments were written as zero – effectively rendering their bonds worthless.

“They go in there and collapse these banks and money just evaporates out of thin air,” Price said.

UCC quietly being introduced in red states to usher in CBDC

Price also discussed another news story about several state lawmakers secretly introducing amendments to existing laws that would pave the way for central bank digital currencies (CBDCs). He noted that state legislatures used to rail against CBDCs, but not anymore “because this is the brand they could control. (Related: State legislatures are sneakily introducing amendments to laws that would pave the way for CBDC domination.)

According to a report by Glenn Beck, legislators from several states and the District of Columbia are deliberating bills that would introduce CBDC into their areas of jurisdiction. These simultaneous legislature moves are said to be due to the appearance of bills introducing the Universal Commercial Code (UCC).

The UCC is designed to make it increasingly easier for companies to transact business across state lines and for states to harmonize laws regulating businesses. The prospect of CBDCs being adopted is sneakily introduced alongside it.

“We’re going to be the guys who make up laws. If passed by states, it would homogenize regulations across state lines. This means they will have full power and they are going to make up UCC and everybody’s gonna abide by it,” Price pointed out. “Reality is, it’s about ultimate control.”

He ultimately encouraged his audience to invest in silver, gold and brass in preparation for the engineered worldwide banking system collapse that is soon to come.

“Create that parallel economy that you don’t have to worry about the CBDC,” he said. “When you have silver and gold, you have the ability to do for yourself and you’re self-reliant without the government coming in and telling you how to live your daily life.”

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Watch the full March 20 episode of “The Jim Price Show” below. Catch new episodes of the program every weeknight at 8:30-9 p.m. on Brighteon.TV.

3/20/2023 The Jim Price Show: Jim Price