Ernst Wolff: Digital Financial Complex
…and a side note on Pfizer shareholders.
Tessa Lena 8 hr ago
https://tessa.substack.com/p/ernst-wolff-digital-financial-complex
This story is a quick and focused one, again (or so it was until I got into it). An interesting talk by Ernst Wolff came up, and I want to share it and add some context while I am at it. I am sharing it as food for thought. I certainly hope that no matter what kind of financial reform might be coming at us, we stick with each other and win by love.
The talk is by Ernst Wolff, a German journalist who specializes in world finance, hedge funds, and the IMF. The vision that Wolff proposes is similar to the vision of Catherine Austin-Fitts. I find it plausible because—well, for one, this vision has been voiced directly out of the horse’s mouth on multiple occasions, albeit without the dark overtones—but also it explains the seemingly arbitrary, unusual, and blatantly anti-democratic policies of the past year and a half in a more structured manner than traditional greed, corruption, fear, confusion, politics, and general chaos alone. Which is not to say that there has been any lack of traditional greed, corruption, fear, confusion, politics, and general chaos. After all, any conspiracy works against the backdrop of human nature—and in a way, a conspiracy is a trivial thing that can be described in terms of human relationships and shared strategies. Human beings form clubs—it’s just that some clubs are more influential than other. In that sense, if we just look at it as a possible business plan, it kind of makes sense.
THE GIST
Wolff points out that currently, entities like BlackRock, Vanguard, and State Steel Corporation hold more financial power than many governments—and hence, they have the ability to dictate their will to governments convincingly.
[A side note: CHD recently posted two stories on BlackRock and Vanguard (here and here). Adding these stories for the curious minds who like to assess different points of view and decide what they like.]
Back to Wolff. According to him, the destruction of the traditional Western social fabric and small businesses is intentional, and the purpose of the destruction is to create enough momentum in the form of desperation and impoverishment that when the central banks roll out the new financial system, the citizens will see it as a solution to horrible problems—as opposed to a new system that somebody wanted to roll out to begin with, at the expense of the prior Western expectations for freedom, standards of living, and so on.
And why do they (they = the wealthiest human beings of the world whose social club has historically played a bigger role in shaping historical events than your average citizen) want to roll out a new financial system and why do they go to such great lengths to make it happen? Wolff believes—and I believe it’s plausible—that it is out of their own desperation, i.e. the desperation of the rich, who are very scared of losing control. The backdrop for their desire is that the planet has gotten small, the old expansion-based model has hit a wall, the U.S. pension funds have been stolen-ish, the people of the world are breeding like rabbits, emerging markets are growing fast—and so they need to make the world AI- and digitally manageable as quickly as possible. In other words, the proposition is that instead of letting the Western economy combust or evolve in an unpredictable manner, the richest people of the world have taken the matters in their own hands and are handling this “transition” like driving a race car carefully through rough terrain—while obviously still competing with each other and while also not missing any opportunity to make themselves even richer as the average Joe is dazed, confused, and maybe also angry at cis white males, or antivaxxers, or immigrants, or Muslims, or all of the above.)
Per Wolff, the desired end result of the financial reform looks like this:
Cash is out. Banks are we know them are out. All money is digital and transparent. Central banks generate digital money at will, as much as they want. Every citizen has one and only bank account, which is an account with a central bank. Money is programmable, and our spending is not free-form, i.e. certain chunks of our money can be assigned for specific purposes, or we can only spend it in certain places, or we may be allowed to only buy certain types of food, etc. etc. Taxation’s easy. Censorship is easy. Fining people for bad behavior is easy. The citizenry is entirely transparent and monitored, and the algorithm is a blackbox. [The last sentence in my commentary, based on my observations of Big Tech and how they usually go about things.]
Click on the link for the rest.