While the central banks of different countries print money without stopping,Wall Street does not stop to invent new mechanisms to sink the world in debts.One day, this financial bubble will explode.
The financial system has become the main engine of the world economy.Financial analyst Ernst Wolff compares in his book to the financial system with a patient.
This is what your medical history says
"The patient was approximately 75. Our financial system was founded in the USA in the city of Bretton Woods in 1944. Currently, this patient has health problems because in 1998 and then again between 2007 and 2008 he has been about to die "After his second crisis, the financial system remains in a viable state in an artificial way as if it were in the intensive care unit," Wolff said in an interview for Sputnik.
The expert argued that to understand the main problem of the global financial system it is necessary to understand what the Federal Reserve System - the US central bank - established about a century ago. "Many people do not know that the kSystem of the Federal Reserve is not an institution
state, but is a private organization. It is a banking poster controlled by large and wealthy families. This fact has been silenced for many years. "
A war is the best drug for the current financial system
In addition, the expert believes that the wars that have been waged in the world throughout history have always led to economic recovery. Indeed, US companies were responsible for restoring the world economy after these wars, and in the worst case, they worked closely with the winners, and the Marshall plan is a clear example of this.
The Marshall Plan was a US initiative aimed at helping Western Europe after World War II to recover economically. According to Wolff, this plan was not done in a disinterested way.
"It became the first operation to distribute taxpayers' money to US consortia. The money, sent to Germany, was provided on the condition that only US companies should receive contracts," he said.
Since 1944 the dollar has been the main currency. However, nowadays is experiencing a storm due to the internal situation of the United States. The American country has many rivals in the world market. One of these is China. Little by little the countries begin to reject the use of the dollar in the commerce.
Iraqi President Saddam Hussein, who tried to sell oil in euros, was executed, and Muammar Gaddafi tried to do the same, we all know how he ended up. to see with its plan to sell oil for euros.In recent years we observed a similar conflict with Venezuela, "said Wolff while emphasizing that the era of the dollar has not yet ended, but is gradually approaching its end.
Day by day the financial system is inflated. Today, it is larger than the real economy and completely disconnected from it. With all that, the financial system does not produce goods.
"In the last 30 years, it has become a giant casino where money circulates. Given that credit is the basis of this system, more money is needed to use them. in particular the International Monetary Fund and the European Central Bank are doing. They are the biggest manipulators of the system.
However, Wolff explained that one of the main dangers to the world lies in the fact that today the financiers speak in another language, incomprehensible to the ordinary citizen.
"It became the first operation to distribute taxpayers' money to US consortia. The money, sent to Germany, was provided on the condition that only US companies should receive contracts," he said.
Dollar loses global support
Since 1944 the dollar has been the main currency. However, nowadays is experiencing a storm due to the internal situation of the United States. The American country has many rivals in the world market. One of these is China. Little by little the countries begin to reject the use of the dollar in the commerce.
Iraqi President Saddam Hussein, who tried to sell oil in euros, was executed, and Muammar Gaddafi tried to do the same, we all know how he ended up. to see with its plan to sell oil for euros.In recent years we observed a similar conflict with Venezuela, "said Wolff while emphasizing that the era of the dollar has not yet ended, but is gradually approaching its end.
Day by day the financial system is inflated. Today, it is larger than the real economy and completely disconnected from it. With all that, the financial system does not produce goods.
"In the last 30 years, it has become a giant casino where money circulates. Given that credit is the basis of this system, more money is needed to use them. in particular the International Monetary Fund and the European Central Bank are doing. They are the biggest manipulators of the system.
However, Wolff explained that one of the main dangers to the world lies in the fact that today the financiers speak in another language, incomprehensible to the ordinary citizen.
Today many financial instruments are known as derivatives. "They can be anything: put options, put options or swaps." There is no need to know how they differ. The only thing to know is that derivatives are a type of bookmaker that threatens us all ".
Another not less important danger is that many people do not know where most of the current problems come from.
"In Europe, there is a lot of talk about refugees, but refugees are the result of processes that take place in the financial system, and inequality and war are the two main causes of the crisis. The big investors take advantage of the wars and distribute the countries of the third world like a goose at the Christmas table, "he concluded.
Another not less important danger is that many people do not know where most of the current problems come from.
"In Europe, there is a lot of talk about refugees, but refugees are the result of processes that take place in the financial system, and inequality and war are the two main causes of the crisis. The big investors take advantage of the wars and distribute the countries of the third world like a goose at the Christmas table, "he concluded.
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