Posted 22 ноября 2022,, 11:41

Published 22 ноября 2022,, 11:41

Modified 24 декабря 2022,, 22:38

Updated 24 декабря 2022,, 22:38

Writer Ernst Wolff: "We must put an end to the uncontrolled financial casino"

Writer Ernst Wolff: "We must put an end to the uncontrolled financial casino"

22 ноября 2022, 11:41
A video appeared on the network with a translation into Russian of the speech of the German writer, journalist, expert on economic issues, author of the book "World Power of the IMF. Chronicle of a Robbery Campaign" by Ernst Wolff, during which he talks about the financial and economic crisis that hit the world.

“I don’t know about you, but when I wake up every morning, I first pinch my hand to make sure that what is happening around me is actually true.

The world is currently in a state of emergency that I cannot even imagine in my first 69 years of life, I am now 71 years old.

Events, on the one hand, are so dangerous, on the other hand, they are so absurd and grotesque, they roll over us as it has rarely ever happened in history.

At the same time, the situation is so confused and the events are so intertwined with each other that it is really very difficult to get a clear picture of reality.

What situation are we in? How did we get into this situation? Where is this path leading us? The fourth, perhaps the most important question - how can we influence the course of events in this situation?

… We see how more and more people around the world are beginning to doubt the official stories about the super-dangerous disease and the effectiveness of government enforcement of medical measures.

This means that the most important means was and remains clarification.

We must continue with all our capabilities and means on all channels to talk about what is happening in the world behind the scenes.

Since we do not have to count on the weakening of coercive measures, rather, on the contrary, we can talk about their hardening, we will have to tune in to much more difficult economic circumstances.

We will need to unite. It is very important to organize local regional links, we need to prepare for various scenarios: food shortages, skyrocketing inflation, disruptions in the energy sector, blackouts in the communications sector, a complete blackout.

We need to realize that we are in a completely unstable political and economic state, so for the future it will be very important to set clear requirements and find an alternative.

We must demand an end to the absolutely out of control financial casinos.

It should not be such that our standard of living depends on speculators and greedy "friends" in the financial sector, in all areas of derivatives the tap must be turned on.

The financial system today is infinitely larger than the real economy, that is, the manufacturing economy or the service economy. It is even impossible to say how much larger this casino is. And most of it is unregulated.

There are trades that shouldn't even be listed on the balance sheet, so this area of derivatives is nothing more than betting on future rates. This area of derivatives is valued by international settlement banks at about $700 trillion. Nobody can give exact numbers. Domestic experts in the US suggest that this figure is even more than one quadrillion dollars.

This sphere is so huge, it is infinitely larger than the real sector, and we are all directly dependent on this. Because it depends on this sector, for example, whether oil prices rise.

If you look at all the big banks today, they are all owned by big asset management companies, that digital financial complex.

The lion's share of newly minted money falls into the hands of those who already have more than enough of it. Therefore, we need to get to the creation of this money and redirect this money directly to social and public needs. It is necessary to free this sector from any thinking of profit.

This includes schools, kindergartens, hospitals, nursing homes and universities, all of which should not be under economic pressure, but should be financed from the production of the money supply.

It's simple, it's possible, it just needs to be promoted and demanded in every possible way. Therefore, it is necessary that as many people as possible understand what the financial system is and how it works”.

You can watch Ernst Wolff's speech in its entirety here.