australianvoice

Covid Emergency is Cover for BlackRock's Plan to Introduce Central Bank Digital Currency Everywhere

"Rather than scotching the fatally flawed debt-based system of pseudo-money in favor of actual money (with no debt attached), the powers that be are doubling down on the flaw because it affords them control." John Titus

INTRODUCTION

This post by Australian Voice contains a video of a discussion by John Titus about the fundamental changes to the world's monetary system which are taking place behind the smokescreen provided by the Covid-19 Emergency. As Klaus Schwab has said himself, Covid-19 has provided a convenient opportunity to make the world a better place. I have selected it because it answers two questions I have asked myself since March 2020. What can explain the fact that all countries adopted a series of health policies which are totally contrary to all previous best practice? For example, with infectious diseases it has always been the policy to isolate infected individuals for treatment rather than confining all citizens in their homes for weeks or months at a time, aka "lockdown". Who or what has the power to force all countries to adopt these policies and even censor anyone who criticizes these policies?

Thanks to John Titus, we now can begin to answer these questions. There is little doubt that BlackRock and the super-rich individuals who put their money into Blackrock are behind the situation we now find ourselves. We know Bill Gates and the giants of the pharmaceutical industry are behind the desire to vaccinate everyone in the world. But who or what is BlackRock? "BlackRock manages a staggering $US 7.8 trillion in other people’s money. That’s more than the gross domestic product of every country in the world, except for the US and China."(1) This means it has highly centralized control of a huge range of corporations, so that even the largest country would think twice about opposing a nudge from BlackRock. Who can invest in a hedge fund like BlackRock? In the US you must be an accredited investor, a person with "a net worth of at least $1 million, not including the value of their primary residence, or annual individual incomes over $200,000, $300,000 if you’re married."(2) Of course this is the net worth and income of the smallest investors in any hedge fund. The top level of these investors are what I have called the super-rich, people like Bill Gates and the well-known wealthy families from around the world. 


WE KNOW WHAT GATES WANTS. WHAT DOES BLACKROCK WANT?

John Titus concentrates on showing the evidence that the US central bank, the Federal Reserve or Fed has indeed carried out policies outlined by BlackRock on 22 August 2019 in a document entitled "Dealing with the next downturn: From unconventional monetary policy to unprecedented policy coordination".(3) He takes for granted what most of us still find astounding, that an investment fund which manages $US 7.8 trillion can deliver a report to a meeting of representatives of all central banks which they all accept and act on in their own countries. No government, elected or otherwise, has any input to this policy, and the mass media pretend the meeting and its outcome never happened. The new policy is called "going direct". Here is their explanation: 

"An unprecedented response is needed when monetary policy is exhausted and fiscal policy alone is not enough. That response will likely involve “going direct”: Going direct means the central bank finding ways to get central bank money directly in the hands of public and private sector spenders. Going direct, which can be organised in a variety of different ways, works by: 1) bypassing the interest rate channel when this traditional central bank toolkit is exhausted, and; 2) enforcing policy coordination so that the fiscal expansion does not lead to an offsetting increase in interest rates." 

I have put 'enforcing policy coordination' in bold to highlight how this is a complete departure from what we understand as "free market" economic policy. How can this control be exercised? Control of the economic system and all those who take part in it, from ordinary consumers to giant corporations, will be achieved by introducing Central Bank Digital Currency. This would replace cash, and it allows central banks to monitor and trace each and every monetary transaction in the world. So if there is some sale or purchase they do not approve of, it can simply be stopped.

To see the power of this policy, remember that the International Monetary Fund, the World Bank, etc. are all completely behind the Zero Carbon policy. An easy way to stop people using their cars is to block all of our transactions in which we attempt to purchase gas or diesel to fill our fuel tanks. And what is the purpose of this astounding level of control? To deal with the perpetual problem of the financial system run by these very banks: economic downturns, otherwise know as a financial crashs or major depressions. Instead of changing the financial system, they want to transform human society into a collection of well-managed economic actors who can't hinder the accumulation of greater profits from their investments by "economically irrational" behaviour. 


SUMMARY OF THE DISCUSSION BY JOHN TITUS, INTRODUCED BY TAYLOR HUDAK

March 2020 the US Fed broke 100 years monetary behaviour. They created $3 trillion wholesale, public money to enter the retail, private money supply. This was part of a plan developed by BlackRock and presented to central bankers and monetary/financial bigwigs on 22 August 2019 as a response to the next economic downturn. In 17 September 2019 the downturn started and there is clear evidence the Fed started acting on the plan when this next downturn began. The plan is called Going Direct. The ultimate goal of the plan is to introduce Central Bank Digital Currency (CBDC). The Bank for International Settlements (BIS) is the central bank for central banks. They want CBDC to be introduced so they can know and control where and how all money is spent.
In the monetary system, private retail money is created out of nothing by private commercial banks. (See: "Mommy, Where Does Money Come From?" video noted below.) Retail money is used by non-bank entities and people. Wholesale public money is created out of nothing by the Reserve banks. US Reserve Bank reserves in 2003 were $5 trillion, but in 2020 they were $13 trillion. Reserves first increased in 2008 crisis when they were used trillions to buy assets from private banks. The Fed kept on increasing reserves but this had no impact on the private money supply. During the Covid Emergency the Fed created $3 trillion and now has $8 trillion in Reserves, but unlike earlier situations, this has simply gone to increase the amount of private money in circulation.
What bothers John Titus is the disappearance of the rule of law. In particular, in 2013-14 we can see that banks are above the law. They can break the law and nothing is done. When you get rid of the rule of law you have overturned the constitution. Law us used now as a tool to oppress people. Lockdowns always benefit billionaire class and the large monopolies. The only way to get back to the rule of law is a revolution. Also we might need to create our own currencies. (A brief account of John's view of the monetary system is given below, after the video.)

This video has been edited from the Gold Standard Science Session 2 organized by Doctors for Covid Ethics and hosted by UKColumn. The full video can be seen here: https://www.ukcolumn.org/video/doctors-for-covid-ethics-symposium-session-2-the-going-direct-reset  


WHO IS JOHN TITUS AND WHAT DOES HE SAY ABOUT THE MONETARY SYSTEM?

John TITUS has written, produced and directed videos about the loss of the rule of law in the U.S. since 2014. His videos focus largely on Wall Street crime, and cronyism in the financial system. He has a juris doctor and has litigated patents for 25 years. He also holds bachelor’s and master’s degrees in electrical engineering and worked as an electrical engineer in the space industry. Since 2020 John has co-produced and cohosted Money & Markets with Catherine Austin Fitts at Solari Inc.(4)

He is NOT an economist or a financial advisor and what he writes about is not economic "theory". He describes the monetary system, the flow of cash and digital money between consumers, corporations and banks in the private, retail money system. He also describes the workings of the wholesale, public money system, the digital money which circulates between the Fed and major private banks. His view of the relationship between these to systems is explained in the second half of his video "Wherefore Art Thou Reserves?" listed below. 

He agrees with the conclusion of Professor Richard A. Werner that these banks, both the private banks and the reserve banks, create money out of nothing by 1) creating an account which shows positive numbers in it, and 2) letting someone spend this money only if they promise to repay the amount the were given (they borrowed) with interest.(5) This is explained in his video "Mommy, Where Does Money Come From?" listed below.

Finally he and others have examined the legal status of the money in the Federal Reserve system, coming to the conclusion that it is a public asset. This is argued at length in his video "Has the Federal Reserve Kept 2 Sets of Books for the Last 50 Years?", based in part on the Law Review article  “Central Bank Money: Liability, Asset, or Equity of the Nation?”(6). This video is also listed below. This is the basis of his distinction between wholesale, public money which circulates between reserve banks and private, commercial banks and private, retail money issued by private banks to people and corporations in the main street economy of everyday life.

Videos from Best Evidence, John's YouTube channel

Mommy, Where Does Money Come From?  https://www.youtube.com/watch?v=S_dBKAWHHQI

Wherefore Art Thou Reserves? https://www.youtube.com/watch?v=1owSYjIT9og

This is a screen shot of John's introduction to his video: Wherefore Art Thou Reserves?. Note the important point in the middle: "Rather than scotching the fatally flawed debt-based system of pseudo-money in favor of actual money (with no debt attached), the powers that be are doubling down on the flaw because it affords them control."
This is a screen shot of John's introduction to his video: Wherefore Art Thou Reserves?. Note the important point in the middle: "Rather than scotching the fatally flawed debt-based system of pseudo-money in favor of actual money (with no debt attached), the powers that be are doubling down on the flaw because it affords them control."


Has the Federal Reserve Kept 2 Sets of Books for the Last 50 Years? https://www.youtube.com/watch?v=EURZwkWLH0I


FOOTNOTES

1. https://www.businessinsider.com.au/what-to-know-about-blackrock-larry-fink-biden-cabinet-facts-2020-12

2. https://www.forbes.com/advisor/investing/how-to-invest-in-hedge-funds/

3. https://www.suerf.org/policynotes/8209/dealing-with-the-next-downturn-from-unconventional-monetary-policy-to-unprecedented-policy-coordination; a download of this document can be found here: https://www.suerf.org/docx/f_77ae1a5da3b68dc65a9d1648242a29a7_8209_suerf.pdf

4. https://doctors4covidethics.org/wp-content/uploads/2021/07/Program_Online_Symposium_D4CE_July29-30_VL.pdf

5. https://econpapers.repec.org/article/eeefinana/v_3a36_3ay_3a2014_3ai_3ac_3ap_3a1-19.htm

6. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3730608

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