STAFF NEWS & ANALYSIS
Government Destroys National Central Banks to Build Global One
By Daily Bell Staff - October 19, 2016

Mess With Central-Bank Independence at Your Peril  … There are worrying signs that, against the current backdrop of record-low interest rates, politicians are tempted to start meddling.  -Bloomberg

The idea of nationalizing banks is probably part of a continued strategy to destroy local and regional central banks in favor of one that is worldwide.

It is surely true that the indefensible nature of central banking is even more obvious when politicians are in control.

The essential nature of central banking is that a handful of people define and control money for hundreds of millions and billions of others.

But this particular observation is not made by the mainstream media. Nor is it commonly noted that the main function of central banking is to debase money.

By making money (currency) less valuable, central banks reduce the value of savings and generally make it difficult for people to retain liquid wealth.

But having politicians control central banking makes the allocation of money by just a few people even more obvious and repugnant.

That is one reason why those affiliated with central banks have resisted such control. Another reason is that those who control central banks control wealth and can benefit accordingly.

Politicians would like to control domestic wealth just as central bankers do.

But the bigger issue is that central banks are gradually being discredited – an evolution we have long predicted.

For instance, central banks have maneuvered themselves into the ludicrous position of negative interest rates and while doing so have created the biggest bubble, worldwide in history.

This bubble extends across most commodities, real estate and economies generally around the world.

But while bankers would protest that doing their best to fulfill their awesome responsibilities has created the current, evolving catastrophe, the larger reality is that central banks are being discredited because that’s how something larger takes their place.

More:

U.K. Foreign Secretary William Hague wrote that “central bankers have collectively lost the plot. They must raise interest rates or face their doom.”

Bemoaning the lot of savers in a low-interest rate world has become commonplace. Prime Minister Theresa May was scathing earlier this month in her attack on the unwelcome side effects of Bank of England policy.

German politicians have grilled European Central Bank President Mario Draghi about his negative interest-rate policies.  But this is different. Hague went on to issue a sinister threat to the Fed and its central-banking brethren:

… The only way out is for the U.S. Fed to summon the courage to lead the way to higher interest rates, and others to follow slowly but surely. If they fail to do so, the era of their much-vaunted independence will come, possibly quite dramatically, to its end.

Central bankers and politicians may believe this is part of a larger dialogue about central banking positioning, but surely it is more than that.

Elite goals have not changed. Centralization of pretty much everything is a longstanding goal. Contrast today’s central banking to yesterday’s and you will see how much the dialogue has changed.

The mainstream media is critical of central banking in ways it has not been before. And now the political process is changing as well.

This is surely directed history at work. If we follow these observations to their logical conclusion, we arrive at the observation that central banks will continue to be undermined by those at the very top who likely do not reveal their plans to the “rank and file.”

What is likely is a major event that will reduce central banks around the world to a kind of economic and political rubble. Then perhaps the International Monetary Fund or some other international organization will  step in to offer a single (SDR) currency and perhaps global central bank functions as well.

In the meantime, central banks will continue to receive considerable criticism – now augmented by political warnings.

Central bankers and the plethora of economic and sociopolitical interests surrounding them are likely not aware of the fate of local and regional central banks. They may believe they are engaged in an ongoing dialogue about how to make central banks “better” and more efficient.

Conclusion: But the ultimate plan is to ensure these banks are either extinguished or operate formally under the control of a single entity. And they must be discredited, if not destroyed in order for this to happen.

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  • Bruce C.

    I’ll be interested to see how “the PTB” attempt to discredit local/regional central banking yet support a single global one.

    • Doc

      Well, perhaps using the same argument as when they tried to get the EU members to give up their national currencies in favour of the Euro.

      There are so many people that actually believe that the problem is too little centralisation. You find them on both the right and the left wing.

      They will now believe that the reason the Sterling is in trouble is that the Brits insisted to keep it instead of going for the Euro. The reason the Euro it self is shaky is because of other currencies and this can be avoided by one currency. The solution is always bigger, always better.

      • Bruce C.

        I like your analogy but your analysis seems backwards. Seeing that the euro is not so great is why other “de-centralized” systems should NOT be centralized after all. If the logic behind why a centralized currency like the euro didn’t pan out as predicted, then why should the same logic be followed for, say, national central banks or national governments? Presumably, they wouldn’t pan out as predicted either.

        By extension, if “individual”/national central banks can’t get it right then why would one single one be any better? The same mentalities as in the smaller ones would be running it.

        • Doc

          Bruce, it’s not my logic but that is what a lot of people were arguing when my home country voted over the Euro.

          The leftists always loves the centralisation, the right-wing believed that the reason the national central bank failed was that it could be manipulated by greedy national politicians (yes, that is what they said).

          So both sides basically argued for the Euro, but they still lost.

          I knew some of these right-wing loudmouths and asked them why a failed monopoly should be replaced by an even larger monopoly. No reply, and I haven’t talked to them since then.

  • The Ghost of Obama Past

    This is the reason cryptocurrencies like BitCoin are so appealing.

    Governments can do nothing to manipulate them.

    • Centurian

      Bet me! Bitcoin exchanges have been hacked and stolen from by people living in their parent’s basements. You don’t think that the NSA, CIA, GCHQ and equivalents can’t do that too? Get real.

      Nothing is private and nothing is secure. Cryptocurrencies are also fiat. Fool around the right way on a computer and “mine” some electrons to create currency wealth? Perhaps cheaper than printing bills, but most money is not printed and is created in very similar ways.

      You build a fortune in Bitcoin and one day somebody pulls the plug and all at once it is all gone.

      I don’t say you shouldn’t diversify and pad your reserves by using a combination of banking, crypto, cash, precious metals and real estate. Any one of those could go bust by morning. A diversified approach means that you have alternatives if one fails. If they all fail. Well, have a garden, preserves and some guns.

      • The Ghost of Obama Past

        Only if you leave your coins in somebody else’ wallet.

        • Centurian

          Does not matter. If they all get cancelled, they are done. Nobody will accept them and you are screwed. Gold, Silver, property and inventory are at least tangible and might provide some advantages. One Keystroke from the wrong or write guy can eliminate the chrypto currencies in about one second. Good luck with that.

          We have a plan that includes water, canned food, guns, ammunition and a really great wine cellar to defend. I’ll be on the roof with rifle, but somebody’s gotta being the wine and nobody is gonna successfully invade us.

          • The Ghost of Obama Past

            How is that different from the banks giving you a 90% haircut?

          • Centurian

            it isn’t different at all.

          • The Ghost of Obama Past

            We have to find some monetary method that prevents government manipulation or we will be their financial slaves forever.

    • ICFubar

      Really? Anything connected to the internet can be hacked or the internet itself suspended in whole or part.

  • ALPHAMEG

    In the early 1800’s, a very shrewd Banking family, the Rothschild’s (Meyer), used Napoleon’s defeat at the battle of Waterloo, as the pretext for gaining control of Britain’s Banks. They established a square mile in the heart of London, as a tax free domain, it is called the CITY of LONDON, (Not London, England) and has its Lord Mayor of which the Monarch (Queen of England, Elizabeth) is permitted to enter once a year, and bows down to the Lord Mayor, to view her investments of which the Rothschild Bank manages, as well all European Royalty Assets, in this City of London tax free zone, for over 200 years. It is this Rothschild Banking Dynasty that controls all Central Banks globally, as well as the IMF, Euro Union Bank, the United Nations. None of the Central Banks are owned by the countries they are in. The Rothschild’s Bank financed Lenin in the Russian takeover of the Monarchy, and have financed both sides of every war since.
    This Banking Elite long term plan is to gain total control of the Global Money System, and thereby
    control of the Global masses. First they will do this by forcing a One World Currency. Then a One World Police Force, Of which each Nations Police Force will be aliens of other nations. They and the Environmentalists are on record of stating the Earth’s ideal total population shoud be less than 2 billion souls. Hmmmmmm. You can write the next paragraph. These Elitists are an ungodly lot.

  • “But the ultimate plan is to ensure these banks are either extinguished or operate formally under the control of a single entity.”

    Rev 13:17… “And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.”

    The plan has been out in the open for quite some time now. Most simply refuse to acknowledge it.

  • ICFubar

    Let us just cut to the chase. Banking, or the money creation business, is at the core of the ‘new universal agenda’ which is much as David Rockefeller describes it in that oft quoted paragraph in his autobiography…a world headed and controlled by a small group of Apex Elites which exist and would be from within banking fraternity. This world vision is not to be made by a consensus of humanity but by the few who dominate money creation and mankind by this, and their shared personal mythology that bankers have of their own omnipotence and of their universal disdain for the rest of humanity as ‘dumb animals.’. Anything less than taking the omnipotence of the power to create money away from them and giving it to the people will allow for this small coterie of con artists and their warped vision of a world under their dominance, with the use of science perverted to these ends, to snuff out what it means to human. This, whether in a ‘Brave New World’ or a ‘1984’ vision or combination thereof.

  • ICFubar

    Let us just cut to the chase. Banking, or the money creation business, is at the core of the ‘new universal agenda’ which is much as David Rockefeller describes it in the oft quoted paragraph in his autobiography…a world headed and controlled by a small coterie of multi generational con artists atop and acting from within banking fraternity. This world vision is not to be made by a consensus of humanity but by the few who dominate money creation and their shared personal mythology that bankers have of their own omnipotence and their disdain for the rest of humanity as ‘dumb animals.’. Anything less than taking the omnipotent power of money creation away from them and giving it to the people will allow for bankers warped vision of a world under their dominance to come to fruition, with the use of science perverted to these ends. to snuff out what it means to be truly human. Whether their vision is of a “Brave New World or an Orwellian “1984” or combination thereof with them atop is for us to consider and act accordingly.

  • Sam

    Illuminati agenda, God will foil and void it ultimately!

  • Penelope Powell

    Almost all banks are ALREADY controlled by a single entity– the BIS, central bank of central banks. Further consolidation of currency will occur when they crash the dollar & set up two worldwide currencies– SDR for trade & digital card-based money for the masses (no privacy).

  • NJguy – Proudly Deplorable

    When the central banks ultimately “fail”, according to plan, I wonder if they will transfer their balance sheets to the new Global Central Bank.

  • teapartydoc

    I see nothing wrong with turning the Fed into a national bank based on Alexander Hamilton’s model as long as there is simultaneous abolition of the legal tender laws, and banks are allowed to issue notes based on documented holdings.

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