Saturday, January 2, 2021

The real Great Reset is a return to the past and getting banks out of the economy

It is not that much of a coincidence that both the International Monetary Fund (IMF) and the World Economic Forum (WEF) were prepared to call for a massive new paradigm shift in the Western world following both Europe and the US's over-reactions to the Covid pandemic.  Labeled as the 'Great Reset', the globalist elite seek nothing less than to break the world down solely into the Haves and Have Nots.

In reality however, we must recognize and acknowledge that the economic and financial straits we are in today came about from many of these same 'overlords' who implemented policies of greed and destruction that goes back primarily 25 years, but secondarily over 100.

Following the fall of the Soviet Union in 1991, many of the banks and corporations in both Europe and the US had to rapidly shift away from an environment of assured government spending to fund the Cold War and instead come up with a way to be competitive in a dog eat dog free market.  The results were to get Congress in the US, and Parliaments in Europe, to facilitate the removal of industry from their own shores and allow it to find better regions in the land of cheap labor.

Before the end of the summer, President Clinton will ask Congress to approve the North American Free Trade Agreement linking the United States with Canada and Mexico in a free trade area comprising a population of 370 million and a gross national product of $6 trillion. It will represent the most creative step toward a new world order taken by any group of countries since the end of the Cold War, and the first step toward the even larger vision of a free trade zone for the entire Western Hemisphere.

This presents the president with a rare opportunity for leadership in educating the American people to the opportunity before them. Since the end of the Cold War, it has become apparent that fear of communism can no longer serve as the cement of the international order. With the collapse of the ideological challenge, traditional patterns of nationalism have gained ground nearly everywhere. The post-Cold War world has already witnessed growing rivalries reminiscent of the tensions preceding World War I. – Henry Kissenger via Washington Post

A few years later, Europe would solidify its own union by creating a continental currency that would becomes the standard for all but the UK.

However we cannot forget one of the most important pieces of legislation passed in the middle 1990s that had been determined to have both aided in bringing about the Great Depression of the 1930s, and inevitably the Great Recession of the 2010s.

That legislation of course was the repeal of the Glass-Stegall Act, which allowed primarily commercial banks to also become investment banks.

No longer was there a separation in banking between the general economy, and Wall Street.

We do not need to talk here about the mountain of evidence which validates that Financialization was the key player in bringing about the destruction of the economy and American system.  But what we do need to emphasize is that as we enter into the third decade of the new millennia, a Great Reset is absolutely necessary, but not one offered by the very individuals who aided in destroying the current one.

No.  The Great Reset the world needs is a return to the very things that made the majority of mankind the wealthiest they had ever been.  They need a return to some form of sound money, a concrete delineation between commercial and investment banking, and true free trade system that recognizes the value of one's own nation currencies in direct bi-lateral trade.


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