Schectman joined Mike Adams, the Health Ranger, on his Situation Update program this week to discuss the recent collapse of Silicon Valley Bank (SVB), Signature Bank, and other banks (i.e., Credit Suisse) that either already have or are on the verge of imploding. What Schectman shared is not for the faint of heart, but it is also not something you want to be ignorant of as the house of cards tumbles.
Much like what happened in the past during the Great Depression and in Weimar Germany, the financial Ponzi scheme known as fractional reserve banking is reaching the end of another one of its death spiral cycles – though this time, it could be the cycle to end all cycles, resulting in the unleashing of a digital, central bank-controlled cryptocurrency like the CBDC we continue to hear about.
Based on what has happened just in the past week across the financial sector, Schectman and Adams – and this writer – agree that the United States banking system, as well as those across Europe that are run by central banking globalists, is going bust. And for the average person, well, life is about to change dramatically.
"There is no one in charge who has any clue whatsoever about how to handle finance, risk, economics or banking policy," Adams also commented. "From the bank managers in Silicon Valley to the government regulators and Treasury heads, they are all 100% woke clowns who are obsessed with their cult of wokeism but have zero interest in risk assessments or financial diversification."
Watch the full episode below to hear Schectman's thoughts on the matter as well:
Modern finance is a complicated subject, by design, and Schectman breaks it all down in terms that most people can easily digest. He reveals how money is actually debt in disguise. He also unpacks the up-and-down cycles that have plagued our economic system ever since the central bankers took it over in 1913 with the creation of the private Federal Reserve system.
Prior to that, money was actually money. And up until the 1970s, even our Federal Reserve Notes were backed by gold – but no longer. Today's dollars are backed by absolutely nothing, which is how the Fed gets away with printing endless amounts of it.
When money is just paper off the printing press, it is worth no more than the money in the Monopoly game we all played as children. And as more people wake up to this truth, distrust in the system will grow, more people will start converting their money into things that actually have value, and the rest will be history.
Think of the above Situation Update episode as a primer into how this collapsing system works. You will achieve a greater understanding of the boom-bust cycle of the markets, the cause of inflation, why the Fed lowers rates only to raise them later, and how this all ends.
"The Austrians know inflation is the growth of the real money supply," one commenter wrote about the difference between Austrian economics and Keynesian economics, the latter of which is what underpins the American financial system.
"Price inflation is different – how many dollars are chasing how many goods? When the Fed cabal just declared they would 'secure' every bank deposit, they just promised to double the money supply (about $20 trillion right now)!"
The latest news about the implosion of the financial sector across the globe can be found at Collapse.news.