Today, there are very few people who truly understand the gravity of how serious the global economy really is. The dangers lurking behind cloaks of deception by the media and the power elite remain hidden from the general public. Millions the world over remain transfixed in hopeless desperation. Those that have said desperate times mean desperate measures are due maybe right after all. But, as so often in the past those desperate measures have only exasperated desperate times. As we continue to see, it has always been those behind the media that have always orchestrated a diversion and even a distortion away from certain elements, facts, and news. This diversion by the media is purposely directed to turn national attention away from other news. News that has far greater implications for the general public than what is actually being given the most attention by the press has made it almost impossible now to prevent further financial and economic decay not only here in the United states but around the globe.
We saw this type of news diversion back in the mid 1970's when the media was so focused on Watergate that the United States was blind sided by what turned out to be our first real energy crisis. Had we known what was ahead and happening in the Mid-East at the time preventative measures could have been put in place to minimize the effects. But, no the media continued to turn the nations attention on Watergate which led to then President Nixon's resignation and a subsequent recession.
Today, the media is again purposely diverting the nation's attention away from the devastating consequences that governments, banks and the power elite have put too many people in where desperate measures continue to exasperate the desperate times. Desperate times that too many the world over continue to languish in. This diversion away from impending more disastrous economic conditions by the main stream media continues to only benefit the existing power elite. Today, the media continues to put too much attention on which Presidential candidate tops which poll and not on what devastating policies that have been enacted by governments, banks, and the power elite. This, so that the general public won't be able to take preventative steps to mitigate the effects of what these policies are actually doing. What they are doing is only benefiting the existing power elite.
It is not widely known when economic conditions worsen, world banks react by reducing interest rates in order to stimulate the economy. The Federal Reserve is no exception either. But, there comes a point when those too big to fail central banks run out of room to reduce interest rates because interest rates are already at zero. So the answer for world banks is to impose negative interest rates. This means that instead of getting interest on your savings, you actually pay the banks to keep your savings on deposit. In other words, you pay a tax on your savings. In essence you actually lose money every day that you keep your money in the bank.
If this happens as it is already what would any reasonable person do when the bank puts a tax on their savings? They would take their money out of the bank. It is the physical paper currency that provides the check against negative interest rates, because if the bank takes your savings, you can simply withdraw your funds and hoard cash. Furthermore, when you inevitably lose faith in the banking system, physical paper money allows you to pull your all savings out of the bank before the bank collapses. In traditional banking depositors money is used by the banks and by using your money in return they provide interest added to your account. The more money you deposit the more interest you earn. Not so today with interest rates at zero it really isn't very beneficial to keep money in a bank. But, the reality is that people's deposits especially those on fixed incomes are now dependent on banks. The digital age of deposits have now replaced the many currency days when Social Security checks were mailed and then either deposited or cashed at a local bank.
Today, with the new currency law that took effect some months back if you think pulling money out of the bank is going to be so easy, think again. The media is an accomplice to the banks for not openly issuing news reports of what the banks are actually doing with your hard earned dollars. Willem Buiter, the Global Chief Economist for Citi, has now come up with an answer to prevent you from pulling your money out of the bank: abolish cash entirely! The hand writing is already on the wall to abolish currency. The Global Chief Economist from one of the largest banking institutions in the world is now telling the governments & banks to abolish the use and private storage of your cash. The all powerful elite have now got hold of your money. Government & banks around the world are taking swift action to abolish the use and storage of cash.
JPMorgan Chase recently informed customers that the bank will no longer allow cash to be stored in safety deposit boxes. Chase recently instituted a policy which restricts borrowers from using cash to make payments on credit cards, mortgages, equity lines, and auto loans. In other words using credit to pay for credit. The banking of debt is the financial reality where banks and government are the beneficiaries. The Justice Department has ordered bank employees to call the police on customers who withdraw over $5,000. HSBC is interrogating account holders in Great Britain on how they earn and spend their money as well as restricting cash withdrawals. Not only in Great Britain but this new currency law in the US restricts the amount of withdrawal of depositors. We are now required to possess identification for cash deposits and Banks everywhere now ban cash form being deposited into other accounts as well as banning cash stored in safety deposit boxes. In France it is the same regulations that are now enforced by their banks and government.
As the U.S. spirals toward insolvency due to massive over spending loss of so many millions of middle wage earning jobs, and the QE 1 & 2 influx of trillions of freshly printed cash that didn't do anything to spur economic gain but only put this nation closer to falling off the financial cliff the U.S. government is pulling out all the stops to gain access to your money no matter where it is across the globe. First, the government started seizing citizen bank accounts with no due process. Now the IRS has targeted foreign nations and other financial institutions anywhere in the world no matter what country to hand over your private data and financial accounts. If that is not bad enough the Department of Justice and local police have already started seizing cash from innocent citizens. All without due process of law.
Is the main stream media putting out information on front page news as to what is actually happening to your hard earned money? Of course not. The citizen's right to take your savings and money out of banks is fast coming to an end. The digital age of finance has now come to pass as well as debt financial transactions have now replaced traditional banking as we used to know it. And the media is a willing beneficiary for not informing the general public of what is actually happening right before our eyes.
Deception by the media has once again choked the light of truth concerning not only how banks are taking your money but how "Big Oil" has known all along what the impact that fossil fuel has had on climate change. The greed has spread far and wide. It was no more apparent than what the oil conglomerates and the big three auto manufactures did to the Tucker Automobile back in 1949. Where was the media back then. The negative publicity was orchestrated by Big Oil and the big three auto industries with the backing of high ranking government officials. Things have not changed one bit. The greed is at epic proportions today evident by the greatest wealth disparity gap in history perpetuated ever since the beginning of the first industrial revolution. The fuel that has powered nations and driven many of the world's economies has pretty much run out of gas. That's not to say there still will be a need for oil based byproducts today. But public pressure has unleashed a tsunami of support unleashing a new age for green energy sources. The reluctance to accept scientific fact by many of the power elite and the oil industry itself has spurred public support which has forced the media to disclose information they would rather not disclose. Information that Big Oil has done everything possible to keep the public focusing on the benefits that the oil industry brings. By doing so the profits they are making continue to be out of sight. In collusion with those behind the media the oil industry have kept the public in the dark about just how bad fossil fuel can really be.
It was just a few weeks before the last great international climate conference of 2009, in Copenhagen that some email accounts of a few climate scientists were hacked and reviewed, reworded to suggest that global warming was a charade. But, by the time of the conference the media with those hacked e-mails damaged the prospects for any progress at the conference. The media again has played its part. Now, on the eve of the next global gathering in Paris this December, there has been pressure to inform the public that Exxon Mobil the world's largest and one of the most powerful companies in the world knew exactly the hazards that fossil fuel brings and yet did little to support green technology's development ever since the late 1970's. With the media's lack of concern Exxon spent the next several decades systematically funding climate change denial citing the lack of scientific evidence supporting the findings that Exxon knew all along.
The time for desperate measures are now past due. But, to have the media purposely keep vital information somewhat hidden and only beholden to those elite few have made the world that much darker for all the rest. For without information education at it's best won't happen. The chances of rejuvenation of economies in so much distress is remote unless the support that has already been put to the test is there again. The green energy movement has now become more focused on by the press just by the growing support by the public. If it wasn't for the mass public support the media would still be keeping the public's attention away form many of the issues that have only favored a few.