Former Head of Research at BIS: “We Don’t Know Anything with Certainty”
Former Head of Research at BIS: “We Don’t Know Anything with Certainty” by Rory – The Daily Coin
BIS = Bank for International Settlement is the bank that sets policy for all of the global banking cabal. The World Bank and the International Monetary Fund (IMF) both report to the BIS while the central banks around the world, like the Federal Reserve in the U.S. and European Central Bank (ECB) in Europe report to the IMF. The IMF is also known as the central bank of central banks.
The good news is you can here the words in the headline coming right out of William White’s mouth beginning at the 1:19 mark in the video below. Further proof these so-called “economist” have no better plan than you and I when it comes to future market performance or how a currency is going to respond to stimulus or “tightening”. It’s like going to a “medical doctor” and saying “doc, when I move my arm like this it hurts.” Let the guessing game begin.
This video was recorded in September 2017 and much of the information referenced is from 2016 – the thing is, nothing has changed, except the entire global situation has become far worse. Another aspect that shows the information is up-to-date is the BIS, IMF and World Bank move slow and methodical to ensure the maximum amount of wealth transference from people around the world while the people never realize anything has happened to their wealth.
Just to put a fine point how the guessing game this man is playing-out – at approximately the 2:53 mark William White calls for more “fiscal expansion for those that’ve got room to do it” – in other words, the patient is dying we should administer salt. Then he goes on to say “we need structural reforms to allow faster growth and a greater capacity to service debt” – or said another way, we need to find new ways of taxing the people as our global banking enterprises are failing and we need other ways to sustain the transference of wealth from the people to the banks and government.
“A greater willingness to look the debt beast right in the face and say some of these debts will not be serviced and they have to be written off and maybe financial institutions recapitalized in consequence.” As William White is speaking the words in this image is moving across the screen.
Now we get to the heart of the matter – Bail-in. Bailouts will no longer work, nor will they be tolerated, but bail-ins have not been used as of yet. Just like with “bailouts” – bail-ins are a one time situation. The banks only get one shot, so it has to count – it has to be monumental, draining and done in a way that people don’t realize what just happened until the criminals have had a chance to scurry away with the booty. If you remember in 2009 it was several weeks before anyone could begin calculating the actual damage and actual volume of wealth transfer when Hank Paulson and company held the world hostage to “bailout” the banks and save the world. Don’t say you haven’t been warned.