How Big Banks Are Planning to Force Americans into the ‘Great Reset’ Trap

08-04-21 11:19:00,

In June 2020, elites from around the world gathered to announce the launch of a plan to “reset” the entire global economy, a proposal they ominously named the “Great Reset.”

Among the many world leaders and powerful institutions that pledged their support for the Great Reset at the June meeting were the International Monetary Fund, Prince Charles, the head of the United Nations, CEOs from major international corporations, and the World Economic Forum—one of the key ringleaders of the Great Reset.

“Every country, from the United States to China, must participate [in the Great Reset], and every industry, from oil and gas to tech, must be transformed,” wrote Klaus Schwab, the founder and executive chairman of the World Economic Forum, in an article published on WEF’s website. “In short, we need a ‘Great Reset’ of capitalism.”

The initial justification for the Great Reset was the COVID-19 pandemic, but from the start, supporters of the global economic overhaul repeatedly said that climate change was the long-term justification, the one that would allow a sustained, massive transformation of society. Doing nothing, they argued, would pose an “existential threat” to the human race—a completely ludicrous argument many on the left continuously make without a shred of solid scientific evidence to support the claim.

Among the most important figures in the Great Reset movement are gigantic financial institutions and/or their CEOs, including Bank of America and MasterCard.

Although many Great Reset supporters have called for dramatic expansions of government welfare programs, including job guarantees, government-provided health care, etc., the heart of the Great Reset is something called environmental, social, and governance (ESG) metrics.

ESG metrics offer public policy leaders, economists, investors, and banks an entirely new way of evaluating businesses. Instead of looking at how profitable a company is, how many employees it has, its business model, and other traditional metrics, ESG adds to those concerns a whole host of left-wing causes, including how “green” a company is, having the “right” ratio of minorities, whether a business is involved in politically disfavored industries (such gun manufacturing and sales), as well as other, similar considerations. Companies are then given a score or rating to determine how well they align with ESG goals.

Hundreds of the world’s largest corporations,

 » Lees verder

HSBC to close 82 banks: Full list of branches to close – is your local bank one of them?

20-01-21 04:43:00, HSBC announce plans to close 82 bank branches across UK

HSBC is closing 82 branches this year, between the dates of April and September.

After the move, there will be 511 branches left in the UK.

HSBC branches closing

Closing April 23, 2021

  • Edinburgh, Princess St

Closing May 7, 2021

  • Brighton, Ditchling Road
  • Hull, Merit House
  • Wednesbury
  • Sutton Coldfield, Four Oaks

Closing May 14, 2021

  • Hull, Holderness Road
  • Pontyclun, Talbot Green
  • London, Fleet Street
  • London, Fenchurch Street

Closing May 21, 2021

  • London, Old Broad Street
  • London, Charing Cross
  • Sheffield, Darnall
  • Oxford, Summertown

Closing May 28, 2021

  • Leeds, Chapel Allerton
  • Cardiff, Rumney
  • Torquay, Strand
  • Staines

Closing June 4, 2021

  • Plymouth, Forder House
  • Belper, King Street
  • Colchester
  • London, Whitechapel

Closing June 11, 2021

  • London, Marylebone
  • London, Streatham Hill
  • Falkirk High Street
  • Fleet, Fleet Road

READ MORE: Martin Lewis issues update to HSBC customers on £50 letter – ‘cash it, don’t bin it!’

Breaking news

HSCB closures: Full list 82 of branches to close – is your branch one of them? (Image: EXPRESS.CO.UK)

Sign up for FREE now and never miss the top Royal stories again.

Invalid email

We will use your email address only for sending you newsletters. Please see our Privacy Notice for details of your data protection rights.

Closing June 18, 2021

  • Reading, Woodley
  • Oxford, Headington
  • Swansea, Gorseinon
  • Wigston, Leicester Road

Closing June 25, 2021

  • Tavistock, Bedford Square
  • Bristol, Nailsea
  • Leeds, Cross Gates
  • Yate, North Walk

Closing July 2, 2021

  • London, Kingsbury Road
  • Cleckheaton, Bradford Road
  • Bexleyheath, Broadway
  • London, South Woodford

Closing July 9,

 » Lees verder

Banks And The Digital Dollar

21-10-20 06:54:00,

Submitted by Chris Argyrople, of Pivot Analytics

Paper money is going away in the very near future.  Sooner than you realize, paper money will be replaced by a “digital-USD”.  Money is already digital.  Your bank and brokerage accounts are book entries in a digital database.  These book entries are claims that can be exchanged for paper money or paper stock certificates.  Governments, including the US government, will be mandating the exchange of all paper money for its digital “upgrade.”  Why and when will this happen?  More importantly, what implications does it have for investing?

Regarding the when, its going to happen soon, very soon.  Within 7 or 10 years, paper money will be history and not legal tender anymore.  China is already testing a digital RMB, so our leading nation is well behind its competitor, and once China rolls out its digital RMB in 2023, our government will spearhead the rollout of our USD version.  In reality, China is already fully digital.  Nobody in China uses cash anymore, and credit cards are a very small piece of their market.  Chinese people use Alipay and other digital payment mechanisms on their phones. 

Americans say “that can’t happen here, we value our privacy.”  That’s ridiculous.  If you buy with a debit or credit card, your grocery store knows when you buy broccoli and they know your brand of ice cream.  If you have a smartphone, your phone company knows where you are at all times, and, yes, they sell that location data to hundreds of companies who pay for it.   This location data is stripped of identifying records, rendering the data “blind” and “safe.”  Most people inherently understand this, but what they don’t know is that basic algorithms can then figure out exactly who you are even based on this blind data.  My friends at MIT get “blind” mobile phone data, merge it with other databases, and after they run it through algorithms, they know mostly everything about you, including your locations.   In 2020, if you used a smartphone and a credit card, “they” know everything about you.  In fact, most Americans choose to have very little privacy at all.  Google knows when you are at your girlfriend’s house, they know what gifts you buy her and most of your favorite topics. 

 » Lees verder

Banks Use COVID As Cover To Shutter Branches Across America

14-07-20 10:05:00,

The Office of the Comptroller of the Currency (OCC) acting head Brian Brooks said banks should not use the cover of the virus pandemic to shrink branch footprints across cities and towns, the Financial Times reported.

Brooks warned in a recent interview with the European financial daily newspaper that he “was not prepared to revisit the fundamentals of bank regulation” due to the pandemic. 

“I do not believe this is the worst thing that’s ever happened in the history of the republic, and so, therefore, I am not prepared to revisit the fundamentals of bank regulation,” he said. 

He said banks shouldn’t expect permanent concessions from regulators because of virus-related issues. 

Many bank branches were temporarily closed for months due to virus-related shutdowns. Customers heavily relied on online services, and bankers told FT they hope the pandemic will allow them to “accelerate branch closures.” 

Brooks said national banks preparing to shrink branch footprint must inform OCC three months in advance along with a detailed explanation of the reasoning. The latest Federal Deposit Insurance Corporation (FDIC) data shows 6%, or 4,500 bank branches, have closed in the last decade. 

He said, “the pandemic is a one-time event that has affected a relatively small sliver of society compared to the number of people who depend on financial services and branches.” 

Adding that “people who want to be allowed to use cheques should be. I really do hope that we don’t over-index on Covid-19. It is a big deal, but it should not be cover for a whole bunch of unrelated stuff.”

Brooks said banks must not “abandon our cities” – after the pandemic, there will be consequences for these actions. 

 » Lees verder

How Central Banks Destroy Money’s Purchasing Power – Activist Post

10-07-20 07:28:00,

By Frank Shostak

Most economists hold that a growing economy requires a growing money stock on grounds that growth gives rise to a greater demand for money that must be accommodated. Failing to do so, it is maintained, will lead to a decline in the prices of goods and services, which in turn will destabilize the economy and lead to an economic recession, or even worse, depression.

Since growth in money supply is of such importance, it is not surprising that economists are continuously searching for the optimum growth rate in money supply. For instance, followers of Milton Friedman—also known as monetarists—want the central bank to target the money supply at a fixed percentage. They hold that if this percentage is maintained over a prolonged period, it will usher in an era of economic stability.

The whole idea that money must grow in order to sustain economic growth gives the impression that money somehow sustains economic activity. If this were the case, most Third World economies by now would have eliminated poverty by printing large quantities of money.

According to Rothbard in Man, Economy, and State,

Money, per se, cannot be consumed and cannot be used directly as a producers’ good in the productive process. Money per se is therefore unproductive; it is dead stock and produces nothing.

Money’s main job is simply to fulfill the role of the medium of exchange. Money doesn’t sustain or fund real economic activity. The means of sustenance, or funding, is provided by saved real goods. By fulfilling its role as the medium of exchange, money just facilitates the flow of goods and services. Historically, many different goods have been used as the medium of exchange. On this Mises observed in The Theory of Money and Credit that, over time,

there would be an inevitable tendency for the less marketable of the series of goods used as media of exchange to be one by one rejected until at last only a single commodity remained, which was universally employed as a medium of exchange; in a word, money.

Through the ongoing process of selection people settled on gold as the general medium of exchange.

 » Lees verder