A Quote by F. William Engdahl
Behind the panic: financial warfare over future of global bank power
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The U.S. can use its control over the dollar and the global financial system to shut down any bank or bank account in the world. It can use its control over Apple and Google to remove apps from the App Store and Google Play.
The Democrats are losing power in every election. And I think that's part of the panic. They want us to believe that the behavior and panic is rooted in an absolute outraged offense over this president that we have, this is just unacceptable and some maniac like Trump is so out of the ordinary, out of the norm, has to be stopped. I don't think that's what it is. I mean, it's part of it. But I think there's a much larger panic that is taking over the Democrat Party. And it's gonna implode on 'em.
Global central banks are working hard to lift their economies through an aggressively easy monetary policy. The ECB [European Central Bank] and BOJ [Bank of Japan] are buying tens of billions of bonds and other financial securities each month in an effort to stimulate their economies, which is pushing down rates everywhere, including in the U.S.
In the financial system we have today, with less risk concentrated in banks, the probability of systemic financial crises may be lower than in traditional bank-centered financial systems
In the financial system we have today, with less risk concentrated in banks, the probability of systemic financial crises may be lower than in traditional bank-centered financial systems.
In a financial crisis, only the Fed, as the lender of last resort, might stand between our economy and financial catastrophe. We must leave the Fed with the flexibility to provide liquidity in order to stop a financial panic.
A financial panic is a very bad thing, but a government panic can do far greater damage in a far shorter time.
The current system is organized around financial values over life values. We need to shift that locus of power down to the community level because the financial markets recognize only money and thereby only financial values.
If the American government can't stand behind the dollar, the world's benchmark currency, then the global financial system will very likely enter a new era in which there is much less trade and much less economic growth. It would be, by most accounts, the largest self-imposed financial disaster in history.
You shouldn't be trying to create a system where no bank fails, but you should be creating one that catches a bank and allows it to fail without impacting the financial markets.
... true financial freedom doesn't depend on how much money you have. Financial freedom is when you have power over your fears and anxieties instead of the other way around.
I've known the panic of financial struggle. I didn't grow up with money at all, and my family has certainly known the panic of, 'Oh, gosh, where's the next bit of money coming from?'
Panic is efficient. Panic is effective. Panic is the way I get things done! Panic attacks are my booster rockets!
As soon as one bad actor like China massively cheats, they win at the expense of us; they win at the expense of Europe and over time it threatens the entire integrity of the global financial system and the global trading system.
The Death of Money is an engrossing account of the massive stresses accumulating in the global financial system, especially since the 2008 financial crisis. Jim Rickards is a natural teacher. Any serious student of financial crises and their root causes needs to read this book.
The financial crisis of 2008 created a seismic shift in the dynamics of trust in financial services. FinTech would have happened without the global financial crisis - but it would have taken much longer.
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