Top Three Videos – March 8, 2024

Financial System and Derivatives

• We’re in a very dangerous position because of the banking system and derivatives, and it’s important to understand the implications of this crisis.
• The flaw in derivatives is that it concentrates the risk, not spreads it, as seen in the 2008 financial crisis.
• “Somebody went out and bought let’s call. It billion dollars worth of nickel and a counterparty couldn’t deliver yeah okay so they were owed. Let’s say5 billion dollar yep. What did the LMA do didn’t they threaten or file bankruptcy. Nope tell me. They canceled the contract that’s right that’s right.”
• “I own physical gold because it’s an insurance policy. It’s solid whether money or not or should be money or not.”
• The oligarchs made their wealth by grabbing real assets before and during the fall, controlling everything today.
• The battle between the debt-based system of the West and the resource-based system of the BRICS and the East is a crucial factor in the current financial crisis.

   

Societal Implications and Government Control

• “There would be a move by those in power to totalitarian government and we absolutely are seeing that and the number of people preaching censorship.”
• “The smartest guy I’ve ever heard of defined Insanity as doing the same thing again and again and again expecting different results.”
• If all banks in the US were closed and stocks and bonds seized by the government, there would likely be a run on bullets and government employees would become targets.
• “The stability of every country is based on the strength and the number of the middle class destroy the middle class you have destroyed your Society.”