As the Banks Fall (Part 3) and Digital Authoritarianism

Where is all this going? How does it play out? What will replace our current system?

Mar 21, 2023

Credit: Andrew Magill from Boulder, USA, CC BY 2.0 via Wikimedia Commons

Note: Please read As the Banks Fall Part 1 and Part 2 before reading this article. Also, my article on CBDCs is essential. Chances are this will make far more sense if you have.

Since my last article on the banks and the financial system, Credit Suisse was the next bank to collapse, just as I suggested it would based on the skyrocketing price of its Credit Default Swaps (CDSs). However, unlike Silicon Valley Bank (SVB), Credit Suisse got snapped up by UBS at the bargain-basement price of $3.25 billion. My guess is that the Swiss government pushed UBS into purchasing in exchange for liquidity and other “benefits.”

Regardless of the purchase, European bank stocks continued to tumble on Monday. That’s because the smart money—savvy, moneyed investors—knows the house of cards is coming down, and they want nothing to do with it. History has proven that whenever governments tell you everything is all right, it usually isn’t. And vice versa.

Let’s look at what officials are saying about the banking sector and global financial system:

“The capital and liquidity positions of the U.S. banking system are strong, and the U.S. financial system is resilient.” —US Secretary of the Treasury, Janet Yellen

And here’s more hot air being blown up the public’s derrière:

Swiss authorities were “instrumental for restoring orderly market conditions and ensuring financial stability. The euro area banking sector is resilient with strong capital and liquidity positions.” —European Central Bank (ECB) President, Christine Lagarde

There’s that word again! Resilient. You know they’re peddling poo when they all use the same “messaging.”

(Source for those quotes is this MarketWatch article.)

Where do we go from here?

As mentioned in the previous two banking articles, I expect to see more bank collapses and some mergers. The last 10 days are only just the beginning of what will seem like a slow and painful death of these fiat currencies (basically every currency in existence). The great news is that while it will be challenging for people all over the globe, we can celebrate the fall of this modern-day slave system. (A soon-coming article will explain this fully, so stay tuned.)

Many argue that these collapses were orchestrated. For example, I’m reasonably sure it’s no coincidence that the first three banks to fail were all crypto-friendly institutions. (Another article on this is coming soon.) TPTB want to scare people away from decentralized cryptocurrencies as much as possible because TPTB understand what a threat they pose to government and central bank control of people.

So while it may have been a conspiracy to take down those 3 banks I discussed in Parts 1 and 2, the fragility of the global financial system has been evident for a while. What’s happening now was always inevitable. It was not a matter of if, but when.

It’s a Churchillian “Never let a good crisis go to waste” scenario.

TPTB, particularly in the West, will try to use this to their advantage, even though a thousand tiny pieces must fall into place for their plans to succeed. But they have no choice but to give it a go because their structures of control are crumbling, and they know it’s their last chance to retain their grip on the populace. And it’s for these reasons they are panicking. Can they implement their agenda in a short period—maybe a year or less?

The West

Hyperinflation may become real in Western countries before the end of this year. If we look at Weimar Germany and the crash of the Reichsmark, we can see that hyperinflation lasted for 4 to 5 months. I suspect that we will see it last far shorter because governments will be eager to reconstitute their currencies under slightly different names, most of which will be digital.

This is why I believe Western leaders see the current financial meltdown as an opportunity to replace paper currencies with the totalitarian’s wet dream: central bank digital currencies (CBDCs). In the previously linked article, I explain what CBDCs are, how they function, and how they are control mechanisms that can be used to imprison, cancel, and control people—their actions, consumption habits, and more.

Other technological structures the West wants to integrate with these CBDCs are:

Digital IDs (giving your biometric data to a government database, so they can track and trace you everywhere you go).
Carbon credit systems.
Broader social credit systems.

All for control, but to be done in the name of “safety,” “security,” and “protecting the environment.”

Australia is trialing facial recognition software in big box stores and high schools. It’s also moving full steam ahead with digital IDs. The US has rolled out a digital ID system that you must participate in if you want to access some government services online, particularly tax-related ones. Canada is trying to mandate digital IDs to access medical care, banking, and all government services. How long before they become “mandatory” and permeate every aspect of our daily existence?

Such systems are being pushed by the exact same people who fund and instigate international wars, fly around on private jets, stay at luxury 5-star hotels and resorts, and eat $250 steaks while telling you to eat crickets and other crunchy critters and euthanize your pets to save the planet. But I digress…

Along with these systems comes Universal Basic Income (UBI) that will give governments the power to lockdown their populations at whim, control wealth accumulation, and make people less self-sufficient/community-sufficient and more dependent on governments. They want to turn the US, Canada, Australia, New Zealand, Britain, and Europe into Cuba. And they don’t even hide these desired outcomes either.

Of course, all digital systems are prone to being hacked, and this alone could bring them down before they barely get started.

On the Horizon

Nearly cashless countries like the Netherlands, Norway, and Sweden are positioned to make a smooth transition to the Orwellian nightmare that is these digitally-controlled societies.

Of course, it’s worth mentioning that one country is already an Orwellian nightmare: China. It introduced its own CBDC after completing the pilot program in 2020. It also uses digital IDs and facial recognition technology to run the social credit system.

To get better grip on what all of this means for everyday people, here is a 5-minute video from The Economist:

The Wall Street Journal released this 6-minute video back in 2021:

Want to see how this biometric stalking technology is used against Uyghurs and is going global? Check out this 12-minute documentary by Vice News:

And if you would like to understand China’s social credit system—read: behavioral modification program—watch this video from France 24 - English:

That said, many countries with heavily cash-based economies and solid domestic agricultural sectors will be less likely to see a transition to such digital systems any time soon. Transitioning to a completely digital currency and other digital control systems would pose too many challenges and, in my estimation, likely require at least 5-7 years to implement.

But implementation requires adoption and compliance. People in countries like Mexico, who have a strong sense of self-determination and an intense distrust of government, are less inclined to jump on the slave bandwagon than their neighbors to the north. The greatest irony—and most tragic, I might add—is that all of the countries that call themselves “free” are often the least free.

The Public Response

So while the global financial system has just entered its meltdown stage, think about the direction TPTB wants to take us and how powerful we are to push back. Most of these systems start as “optional” before being mandated. Governments in larger countries, like the US, will have a more difficult time pulling such things off, but that doesn’t mean we should involve ourselves.

So, what should we do?

The simpler answer?

Don’t participate in the first place—no matter how much money or “perks” your government tries to bribe you with.

Nothing is ever free when governments are involved.

And in this case, the price is steep:

Freedom.

As Thomas Jefferson once famously noted:

“A nation that expects to be ignorant and free, in a state of civilization, expects what never was and never will be.”

And it’s for this reason, and this reason alone, that I write these articles.

If we hold the line and refuse to give in en masse, the clear-minded, natural-born leaders of the world over will be able to step forward and re-establish sound, sovereign financial systems for their individual nations. And for the first time in our lives, we’ll be able to experience more freedom than we’ve ever known.