Central Bankers Reveal the Next Phase in Their War on Savers

Central Bankers Reveal the Next Phase in Their War on Savers by Jeff Thomas for International Man

International Man: Recently, Christine Lagarde, the new European Central Bank (ECB) head, said the most incredible thing: “We should be happier to have a job than to have our savings protected… I think that it is in this spirit that monetary policy has been decided by my predecessors and I think they made quite a beneficial choice.”

What’s your take on this?

Jeff Thomas: Well, I doubt very much if Mrs. Lagarde includes herself in her comment. She has no intention of losing her own savings, since she’s a member of the ruling class. What she’s saying is that the hoi polloi will have their savings absorbed by the banks and the state and that the hoi polloi should begin now to accept the idea.

As to the tone of the comment, it’s the old ploy of soft-soaping an event that’s going to occur soon, hoping that you can make it seem more palatable before implementing it.

It’s much like the old British comedies in which a woman, instead of saying, “My Mum’s coming to live with us,” says to her husband, “Wouldn’t it be nice to be seeing more of my Mum?” She then spends the rest of the play getting him used to the idea that Mum’s presence would be nice, without telling him that Mum is soon to arrive with her baggage.

Only, the bomb that’s soon to be dropped on Europeans and much of the rest of the world is a fair bit worse than having Mum come to stay. The plan is to remove all savings from the population – to get them accustomed to living hand-to-mouth. Ultimately, it’s the dream of all governments, but it’s often difficult to pull off. Understandably, people tend to rebel against it.

But any government understands that wealth and/or savings represent freedom of choice. The more money you have, the more control you have over deciding your own future. Therefore, a government that wishes to enslave its people will hope to create an economy in which the people have enough to live on but are unable to save. That keeps them dependent upon the government.

International Man: What do you think central bankers are signaling by saying that having a job is of greater importance than savings?

Jeff Thomas: Well, if it’s your intent to rob people of their savings, you might make the blow more palatable if you can convince people in advance that savings are not really so terribly important. Shift the emphasis to having a job.

Not to worry. The nanny state will look after the rest.

The “bomb,” of course, is negative interest rates, the elimination of cash, dramatic inflation and capital controls. Once the populace are locked into the banking system as the only means of facilitating the movement of money, they’ll be locked into the maelstrom that is to come: the systematic control and ultimate impoverishment of the population.

Picture yourself as a plant. At one time, your forebears lived in the wild, then later, in cultivated gardens, but in the future, the intent will be that you shall live as a hydroponically grown specimen, being fed exactly the water and nutrients that your growers prescribe to make you productive… and no more.

That’s essentially what governments tend to seek. If we bear in mind that government is, by definition, no more than a parasite, it stands to reason that any government would want to minimize its effort and expense, whilst maximizing what it can extract from its people.

International Man: Do you think there is currently a war being waged on savers and retirees? Who is involved and why?

Jeff Thomas: I wouldn’t tend to use the word “war.” I think of it more as a programme for greater control over the worker ants. It’s helpful to remember that, historically, leaders have always desired total control over their minions.

All that’s changed in the modern era is that technology now allows that to happen to a greater degree than before. In the future, banks and governments will have the technological ability to monitor every economic transaction you make, down to buying a drink in a vending machine. Once that total monitoring is in place, it’s just a matter of time before your government will begin to take charge of your expenditures, allowing or disallowing them.

Continue Reading / International Man >>>

Sharing is caring!

The Daily Coin

Rory Hall, The Daily Coin. Beginning in 1987 Rory has written over 1,000 articles and produced more than 300 videos on topics ranging from the precious metals market, economic and monetary policies, preparedness as well as geopolitical events. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver, Silver Doctors, SGTReport, and a great many more. Rory was a producer and daily contributor at SGTReport between 2012 and 2014. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Gerald Celente and Peter Schiff, to name but a few. Don't forget to visit The Daily Coin and Shadow of Truth YouTube channels to enjoy original videos and some of the best economic, precious metals, geopolitical and preparedness news from around the world.