Monday August 8, 2022
BIS
https://www.bis.org/publ/bcbs_nl29.htm
Risk
The BIS is concerned there is a growing inability to pay back debt, and a higher risk of loan default in the short term future.
Particularly for the poor, working class and middle class.
The division between the rich and poor has increased. The rich got doled out free money and the poor are getting inflation.
The trouble with centralized control is that each leadership group has individuals who will loot for private gain.
Every time.
This is why communism will never work. It is death to millions upon millions. Every time.
The central bank of Singapore sees a catastrophic hardship in the near future for the poor, and so is giving funds directly to those in need. All the other nations’ central bank speeches say something along the lines of, “Too bad. There’s no free lunch. The citizens must pay more through regulation and carbon taxes to cover this shortfall in funds. Banks must protect themselves from an approaching hurricane.”
The BIS’s biggest concern at the moment is commercial real estate loan default.
There’s a pretty new and rapidly growing ability to obtain loans from private corporations as well as banks. The private companies don’t like to share their data with commercial banks or with central banks. This means one person or party can be in debt and then seek a loan from another entity without declaring the risk.
The commercial banks deciding on the loan don’t have all of the party’s data, including how many loans they have outstanding and their history of repayment, or their ratio of debt to assets.
The BIS just instructed the commercial banks that it is the bank’s responsibility to obtain that information from the prospective borrower.
They let the commercial banks know that a financial storm is coming and the BIS will most likely not be in a position to bail them out.
The BIS and central bankers haven’t figured out how to get all the information from each party to stuff in a model for deciding an entity’s credit worthiness.
They REALLY want everyone and everything to be digital so it can be tracked and they can control it all for the benefit of the whole (their benefit above any individual).
With DeFi it’s not currently public knowledge what every human does financially.
Decentralized finance cannot be stopped. The BIS gave a speech which lamented that it cannot be wholly controlled and regulated because “who do you sue?”
Therefore they gave another speech which told the commercial banks that they’ll have to get used to having less short-term profit, and sharing the power/control/profit with Big Tech, payment services and DeFi private corporations.
There is a golden key of some sort that has access to everything, but it was mentioned in passing in a BIS speech a few months ago, and not talked about again.
A hidden back door (referred to in the new song about the Fed called Janet Louise.)
The BIS has a habit of proclaiming a thing as inevitable, as if it is already a done deal, and then having to walk it back once the commercial banks and other players have their say.
For instance, Carsten, head of the BIS, said with a straight face last spring in a speech that every human on eartth would have a digital ID held by the BIS, and the BIS would know every little detail of every financial transaction and movement of every human. The audience gasped. No doubt, each of the members of the audience didn’t want all of THEIR transactions and movements monitored in real time by a central authoriity.
It would make it inconvenient to use a hidden back door.
The Big Tech firms with private payment channels said ‘nope’. Their data with their customers belonged to them as private property.
Uh huh.
The BIS had to walk it back, and then say that it was fine with them if the Big Tech firms just bunched up the data to give to tthe BIS, and therefore individual actions were not revealed.
What did the BIS do then?
They are trying to implement regulation through the central banks that calls all of that data a systemic risk. Therefore it must be given to the BIS against the private company’s will, and at their expense, as a matter of financial defense to avoid a global collapse.
Riiiiiiiiigght.
At first the BIS said that every human would have an account with the BIS and receive CBDCs directly, which the BIS would control as far as what the individual was allowed to purchase. But the commercial banks said ‘nope’, as they would be missing fees they currently earn through every transaction.
The BIS capitulated and said perhaps there would be a cap on how much CBDC a person could hold before it’s automatically transferred to a tied-in commercial bank account (so the bank can make its fees). And then the more advanced economy commercial banks said there’s no need for CBDCs at all in their countries because the banks had it covered. Looks like the BIS is fine with that too.
Negotiations and the game of Coins and Crowns is furiously being played right now.
The current board looks more like the game of Risk, and the whole thing is about to be upended, with the table overturned like Jesus in the temple with the moneychangers.
The overall new global digital system, where every human, currency, item of value, commodity, equity, security and debt, piece of real estate, commodified service, including all leverage and every ‘thing’ has been planned by the BIS and assorted groups for many years.
As with all human endeavours, there is a plan and cycles, and then there is the Mule (as in Isaac Asimov’s Foundation series), where the unforseen comes into play.
Some call this a black swan, where the idea was not thought of and therefore not looked out for.
You cannot build a defense against a technology you have never thought of.
Emerging market nations are jumping on the IDing and tagging of every citizen, and giving them CBDCs to spend as the BIS decides.
For example, in China, the BIS gave citizens digital ‘money’ they could only spend locally because the BIS wanted to spur the local economy.
The bigger plays are in motion. The system they control has already failed because they doled out too much free currency to their friends, and no one wanted to be the one to put away the punch bowl. Not a way to make friends.
So they didn’t see the wind outside picking up speed.
The hurricane is approaching.
They must let the current dance hall collapse as they exit through the hidden back door. While the music still plays.
They are testing their new system.
There are ways to be outside that system if one looks hard enough.
They’re telling the central banks and commercial banks to brace for impact.
They’re allowing the private companies, the DeFi, to come in and be regulated – to make profit.
They’re warning the commercial banks to stop expecting short-term gains as they must share with the private groups now.
And here comes a hurricane.
It’s all in the BIS speeches on their public website.
And remember… they settle out in gold. Physical gold. They’re quietly buying but not telling you.
Elaine~
Me? I just returned from a marvelous bluegrass festival. Jamming until 2am under the stars after days of watching friend’s bands play. A renewed love of making live music, harmony, interplay of instruments.
…………………
The interview synopses on this blog give suggestions from contrary financial thinkers, from wolf-minded caribou, who have experience in moons-that-turn and packs of hunting wolves.
Do your own research, and perhaps take a few of their suggestions into consideration.
Here’s a link to a recent 3 Min. Gold News synopsis of an interview by Jim Rickards.
Jim makes suggestions in this April 25th synopsis for how to prepare for the financial reset and chaos he sees coming.
Here’s a thought:
The Bank for International Settlements, the central bank of central bankers and big wild dogs, states that in 2004 the derivatives outstanding were $300 trillion. Then came the 2008 crisis. They have the first half of 2021, a year ago, pegged at $610 trillion. Double the size.
Plus, a second nation announced plans to use bitcoin (not under the BIS and IMF wing and control) as money. Real money. That’s the central banker’s territory.
Money, in all its definitions, is (in their view) their endless green pasture full of grazing caribou. Their caribou.
The idea and use of money is changing and they want their control to stay put.
As @coloradotravis put it on Twitter this morning.
Today it is the wolf who carries the day, but one cannot help feel for the caribou.
All they want is green grass, glacier-cold water, and peace.
But on this frozen waste, there is only war.
— Travis.web1 (@coloradotravis) May 11, 2022
I don’t know about you but I see a soothsayer’s moon.
Elaine~
Elaine Diane Taylor 