And just to show you what that can do to politicians or central bankers, do you remember the Bill Holter piece?
He said, “Who is going to finance the central banks? If they’re going to rescue the system, who is going to finance the central banks?”
Well, let me tell you what the ECB and the European Commission think about who is going to finance them.
You.
People with money in the bank are going to finance the EC Commission and the European Central Bank.
Because I’ve got a piece here. I’m going to link it.
And I’m going to ask Craig now to lift 47 seconds to 1 minute 19.
Embedded clip:
“The two most powerful leaders in Europe both just confirmed that they are coming to seize the $10 trillion sat in bank accounts in the European Union.
“I know that sounds crazy, but this clip from Ursula von der Leyen just broke the internet yesterday.
“You can see the subtitles. She said, ‘Savings are unfortunately lazy, and there is 10 trillion dollars worth of euros sat in bank accounts.’
“This clip is so insane that before I play the Christine Lagarde video I’ve got for you, I’ve gone and translated this clip from French into English for you to prove that what Ursula von der Leyen just said is real.
“Listen into this.”
Translated clip:
“Unfortunately, this saving is quite lazy indeed. 10 trillion euros of household savings continue today still in bank deposits.
“And a significant portion of European savings is invested outside our continent.
“Europe must now put it to work for the benefit of its many and diverse businesses across the entire modern economy.
“That’s the aim, uniting savings and investments.
“We’ve tabled securitization, banks and insurance investments, and market integration and supervision. They could unlock up to 470 billion euros.”
So, what the ECB is saying is that there is 10 trillion sitting in bank accounts, and it’s not doing anything.
It’s lazy.
That’s their description of your savings.
It’s lazy.
So, what they think is this money should be invested in the EU, of course. They actually say that.
Okay?
So here Lagarde is saying it should be invested in Europe. And they actually say in European businesses.
So they’re actually putting a wall up around Europe in terms of your money in your bank, in your savings account. They’re going to use it to invest within Europe, which is collapsing.
Can you see it?
Now, I would have said, “Well, that’s a rather random conversation.”
Not that politicians or central bankers have random conversations. There’s usually a big plan already behind the conversation. This is just a way of filtering it out to the public.
And then I saw another piece.
And here’s Van der Leyen talking about the same thing from the Commission.
So it’s not only the central bank, it’s now the Commission. It’s not only the bankers, it’s now the politicians saying exactly the same thing.
Embedded clip:
“More than 800 billion euros per year.
“If we want to be realistic, and if we want to deliver on our commitment under the Paris Agreement, if we want to protect ourselves from a security point of view, and if we want to move to the digital age, 15.7% of household income is actually saved.
“But where is it saved?
“It’s saved in cash. It is saved in bank deposits.
“That’s probably not the most efficient way to put your money to work.
“So I would start with that. Start with an instrument in which Europeans are reasonably comfortable investing in. Take some risk.
“The second direction I would take is make sure that money can move around. Remove the barriers. We have so much of it.
“So, in order to expand geographically where this money can be invested, we have to look at those barriers and those hurdles that we have inflicted upon ourselves.
“And the third direction that I would take as well is make sure that that money that is invested in this European instrument that can move around is actually heading in the right direction.
“And in that respect, you know, I’m not enough of an expert in venture capital and the venture capitalist approach to risks, but that’s where the money has to flow, among other things.
“We don’t have the luxury of time.”
So, we are seeing a plan that is already in place being leaked gently to the system: that the European elite are going to take the money from the banks that people have in their savings accounts and invest it in European business, which is failing badly.
Where do you go with this story?
As Bill Holter said, where do the central banks get the money from?
Well, they’re telling you.
It’s coming from bank deposits.
Now, me as a banker, if I heard this story in Europe, with the chief politician of Europe and the chief central banker of Europe both saying, “We need to activate the 10 trillion of savings that are sitting in bank deposit accounts,” I’ll take my money out.
