FLASHBACK: G20 Rules Make Bank Bail-ins a Reality (2015)
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FROM 2015: Last month’s G20 Summit in Australia came and went without the protests and riots we’ve come to expect at the summit in recent years. But as author and researcher Ellen Brown notes, the real fireworks happened behind closed doors, where the group rubber stamped new regulations that will make Cyprus style bank bail-ins a worldwide reality.
FLASHBACK SHOW NOTES:
Original video on GRTV
Original post on CorbettReport.com
Complete audio-only interview with Ellen Brown
James Corbett and James Evan Pilato cover Silicon Valley Bank on New World Next Week
FDIC Systemic Resolution Advisory Committee meeting Nov 2022
What Will Happen When Banks Go Bust? Bank Runs, Bail-Ins and Systemic Risk
ORIGINAL SHOW NOTES:
New G20 Rules: Cyprus-style Bail-ins to Hit Depositors AND Pensioners
The Global Bankers’ Coup: Bail-In and the Shadowy Financial Stability Board
Russian Roulette: Taxpayers Could Be on the Hook for Trillions in Oil Derivatives
Adequacy of Loss-Absorbing Capacity of Global Systemically Important Banks in resolution
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I think I have shared this on here in the past but given the focus of this flashback episode and recent events I feel compelled to re-share.
𝗨𝗻𝗹𝗶𝗸𝗲 𝘆𝗼𝘂𝗿 𝗳𝗶𝗮𝘁 𝗰𝘂𝗿𝗿𝗲𝗻𝗰𝘆 𝗯𝗮𝗻𝗸 𝗮𝗰𝗰𝗼𝘂𝗻𝘁, 𝘁𝗵𝗶𝘀 𝗶𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁 𝘀𝘁𝗿𝗮𝘁𝗲𝗴𝘆 𝗶𝘀 𝗶𝗻𝘀𝘂𝗿𝗲𝗱 𝗯𝘆 𝘁𝗵𝗲 𝗳𝗼𝗿𝗰𝗲𝘀 𝗼𝗳 𝗻𝗮𝘁𝘂𝗿𝗲! 😉
The article linked below offers a comparative analysis of conventional economics vs gift economics through a thought experiment involving investing in a bank vs ‘investing’ in the Earth (via planting/saving/sharing heirloom seeds).
https://gavinmounsey.substack.com/p/the-best-investment-on-earth-is-earth
Here are select excerpts from the article that I feel are particularly relevant to today given how recent events have illuminated the flimsy and malleable nature of the centralized fiat currency banking system.
“While sorting and packaging the heirloom kale seeds I had saved from last year’s garden it occurred to me that not only is investing in the earth more nutritionally, spiritually, and emotionally rewarding than investing in a bank, it can be more fiscally rewarding as well.
The fact is when you invest in a garden you end up with an abundance of not only crops with more than enough to share with friends/neighbors but also the abundance of seeds that can be saved from each harvest. I began to contemplate what the latent money value of these seeds were (if they were all to be grown and harvested from a garden), and then proceeded to compare my original investment in the package of organic kale seeds (less than $5 ) which I “deposited” into the earth to what kind of return I would have gotten had I invested that five dollars into a bank.
Here’s what I came up with:
Investment of less than five dollars on kale seeds (about 20 heirloom “red russian” seeds) result/return after one year :
Ten healthy adult kale plants which I harvested semi-daily from June until November ( We ate about ten dollars worth of kale at local store prices a week from the garden, so after 6 months they produced about 240 dollars worth of organic kale). So from less than a five dollar investment (along with time spent every few days on watering and tlc) I got $235.00 return from investing in the earth (a 4800% increase)!
Now how much return would I have gotten if I invested 5 dollars in a bank after one year? Well let’s say the savings account has an interest rate of 3% (which is being generous for most banks) after one year from my original 5 dollar investment I would have a whopping 15 cents return!
(continued..)
(continued from comment above..)
After that first year of investing in the earth by “depositing” the kale seeds and letting the plants go to flower (on top of my steady harvesting) I was able to save well over a hundred seeds from each plant at the end of the year (which will amount to over one thousand viable seeds achieving maturity/full harvest).
Since with gardening (“investing in the earth”) there is always abundance and more than enough to go around, I will share many seeds with friends, family and neighbors. I then decided I wanted to project this investment comparison further in compounding it over multiple years. I will give about ten seeds to each person/family and all I will ask in return is that they save seeds from their kale plants and share them with others.
I wondered how much actual money value in kale could be grown, harvested and enjoyed after seven years of this “pay it forward model” of gardening kale, saving seeds and sharing the next year. In the interest of making a fair calculation I wanted to be very modest with my estimates for projected harvest yields and seeds able to be saved each year (considering not all plants will grow in great soil under ideal conditions). So I estimated that for others each ten kale plants would yield a minimum of 10 pounds of kale annually (amounting to 30 dollars worth of organic kale at $3.00 a pound). And instead of assuming they will be able to save 1000 seeds like I did, I estimate they will save well over one hundred (amounting to one hundred viable seeds that grow into harvestable mature plants.
So let’s recap; with my 1000 seeds (from my first harvest) being given to 100 families/gardeners, after the second year a total of $3000.00 worth of organic kale would have been grown, harvested and enjoyed by those people (“collective beneficiaries” of my investment in the earth). That means, from my original money spent (less than 5 dollars) invested in a pack of seeds, some water and tlc, and sharing the resulting seeds after only two years a return of $2995.00 would be collectively accessed and enjoyed. While that same five dollars invested in a bank would have earned me you guessed it! A colossal 30 cents! 🙂
With an original investment of five dollars After seven years continuing this ‘pay it forward model’ investing in the earth compared to investing in a bank you would have this:
𝗕𝗮𝗻𝗸 𝘁𝗼𝘁𝗮𝗹 (money value accessible by one) $𝟲.𝟭𝟳
𝗘𝗮𝗿𝘁𝗵 𝘁𝗼𝘁𝗮𝗹 (latent collective money value worth of nutritious food accessible by many) : $𝟯𝟬,𝟬𝟬𝟬,𝟬𝟬𝟬.𝟬𝟬
(continued..)
(continued from comment above..)
Emergency preparedness does not have to be something involving fear, stress or obsessing.. if we choose to do things that help us align with natural localized cycles for providing our basic survival needs (like gardening, seed saving and preserving) we are increasing our emergency preparedness in a joyful and healthy way.
Saving up money for a ‘rainy day’ is not a solid way to prepare for emergencies because money has no innate value. Seeds, good soil, gardening skills, increased health/immunity, preserving experience and the symbiotic relationships and friendships we forge with neighbors and the broader community we are a part of (through sharing our abundant harvests and helping others to grow regenerative gardens) are however things that have innate value.
Even if money had some intrinsic value and dependable stability (which it doesn’t) basing one’s life around constantly striving to acquire and horde more of it (capitalism) is not healthy. Capitalism is an unnatural human concept (that is based on an inaccurate and outdated view of life and evolutionary processes). It is a model based on the inaccurate view that in nature competitiveness, ‘survival of the fittest’ and adversarial relationships are the norm. Modern science and ecological studies have shown us (that when we take a closer look) symbiosis, interdependence, and cooperation are in fact the norms when it comes to relationships between various organisms in nature. Capitalism (and its ugly offspring “consumerism”) are systems of thought that do not align with natural law. They amount to ways of perceiving and interacting with the world that result in parasitic and not symbiotic relationships with each other (as humans) and with the rest of nature as a whole. At the foundation of capitalism in today’s world is Fiat Currency (a monetary system that perpetuates debt and forever expands the gap between the ‘haves’ and the ‘have nots’.)
Let’s invest in a future where food, health, and happiness are abundant and common place. We can make the choice to truly care for our body and in the process give back to the earth that gives so much to us. Each of us can do this by planting and maintaining a regenerative food garden of our own. Thank you to those who care enough about the Earth and your fellow beings to do this without any hope for quantifiable rewards for yourselves, but for those of you who need to measure the reward in quantifiable metrics, the numbers don’t lie, even within the constraints of the flimsy, fraudulent and unreliable fiat money system, choosing a bank over the Earth is clearly a poor investment choice.”
Hey Gavinm,
How you doing?
When I read this post, as I do many of your posts, I come away feeling that you really have a perception of life and purpose consistent with someone blessed with an acute level of understanding and conscientiousness. I mean that sincerely. Not that I agree with all of your viewpoints on every topic, but, for what it’s worth, on fundamental, core values, I not only agree with you, at times I find you to be edifying.
I’ve given much thought to your question regarding the concept of violent coercion as being integral to current, as well as historical, societal structures. It is ubiquitous, indeed, and historically has played a crucial role in molding, modifying, policing and controlling human behavior – you’ll have to excuse me if the foregoing terms seem redundant, but they are.
The phrase “violent coercion” is by definition an oxymoron. The word “coercion” connotes violence, or the threat of impending, inevitable violence. Therefore “coercion” embodies “violence” and thus is defined by it. Can there be coercion without violence? That would be persuasion, perhaps?
Years ago, I was given a thought to ponder: In a court room, a judge (in this case, a US Federal judge let’s say) hands down a decision that the party subject to this decision must abide. The question to ponder was, what is there to uphold the judges decision? The police, right? Usually, one thinks of the police going hand in hand with law, judges, and courtrooms. At least I did. However, in actuality, the backing and power behind the judge’s ruling is ultimately none other than the combined power of the entire United State military. That level of power and the threat of its violence, in essence, stands behind each and every judicial ruling however big or small. So, talk about violent coercion? It doesn’t get anymore violent than that!
But, is violent coercion antithetical to the human condition? Or, rather, antithetical to human conditioning? To modify certain unwanted behavior, some parents might paddle an infant’s, or a toddler’s or a young child’s behind, which equates to violent coercion. In the classroom, a child might be told to sit alone in the corner, face the wall, put a “dunce” cap on, or whatever. Isn’t that a form of violent coercion against the child’s psyche, in the hope said coercion will modify the child’s behavior? In this sense, violent coercion has been universally endemic throughout history in one form or another. As such, coercive conditioning may not be so unnatural as you might think, and not necessarily unique to humans. I once witnessed a mother cat who seemed to “scold” or “yell” at her kittens who ventured into a baited trap apparently to warn them to get out, which they hurriedly and immediately did. After the kittens ran out of the trap, the mother went in to get the bait, whereupon she, herself, got trapped. The mother hadn’t engaged in gentle persuasion, she screeched at her kittens. What would be next, a claw? So, maybe coercion, violent as it is, is a manifestation of survivalism across species, including humans, an indication that it is innate and natural as can be.
In another post, which I’ll link – https://www.corbettreport.com/february-open-thread-2023/#comment-147686 – you were wondering if I was interpreting “state” or “statism” in a way that would allow “for communities, societal organizing structures/principals and forms of leadership to exist that do not involve violent coercion.”
The answer is no and yes: No, because I am not aware of any presently existing organizational structures (“state”) that do not involve, in one way or another, violent coercion. Violent coercion takes on many forms, however harsh or subtle, as I noted above.
Where our viewpoints diverge is that you have the conceptualization that systems of belief can and do remain static and unchanging. On the other hand, I believe nothing goes unchanging, including conceptualizations. Therefore, my answer is also “yes” because I believe that even statist, organizational structures built upon immoral foundations are not necessarily static, and can give way over time. The point being is that over ions, perhaps, as people evolve, so will their institutions. What does exist. however rooted it is now, is the potential for violent coercion to one day, believe it or not, be a thing of the past.
If I’m being too optimistic, please let me know. 🙂
@candlelight
Well I just started back at my day job doing long hours (landscape installation, digging out soil from half frozen garden beds and mulching, tree planting etc) after a long winter of too much screen time doing tedious computer work (editing my book to deal with software issues so I can get it printed) so tonight I am feeling muscles I forgot I had. But that is a good thing, its just what the doctor ordered. Though my muscles are screaming at my brain I am grateful I can do work in a way that gives back to the Earth and improves my physical health. What is that old phrase? “the spirit is willing but the flesh is weak”.
Thanks for asking 🙂 How are you?
Now I have three different mushroom cultivation projects, 72 heirloom veggie seedlings and 7 wild apple tree seedlings to check on, water and harvest from (if some mushrooms are ready) as well as heirloom seeds to sort and package for sending out to people in the mail, then I have to make my wife ginger tea, make my lunch for tomorrow’s work day, feed our animals and wash my work cloths, so my time on here is short tonight (this will likely be the case for the foreseeable future). This means I will not have the time to properly respond to your thoughtful comments at this time but I wanted to let you know I saw them and will respond when I can.
I will contemplate your statements and questions, thanks for the comments.
Gavinm,
“…a long winter of too much screen time…” made me laugh (yes, indeed, out loud). 🙂
What is that other old catch phrase, when someone has a ton of work to do? – “They’ve got their work cut out for them”, eh? And yours is dizzying. So, not only are you very conscientious as I mentioned, you obviously have excellent organizational skills to match!
Well, I’ll let you get to it. But, if you falter, and can’t resist replying to dozens more posts in the meantime, by dozens of subscribers, no worries. That would still represent but a fraction of your usual output!
I do want to leave you with this, and I’ve been meaning to mention it. It’s to do with one of the observations you related regarding the beach dwellers which really resonated with me in a very profound way, and was literally struck by the infinite truth of your experience…. It’s odd that I’d use the term infinite as a descriptive, normally it would be something like absolute, etc. But, in this case, infinite seems better in describing the feeling I had as I read your words, which I’ll quote and italicize within your parentheses – “(without any property deeds and without taking more than they needed to survive).
“without taking more than they needed to survive” rang so true. It brought me right back inside the beach dweller’s shelter. His home. I remember looking around in complete amazement. First, that he created this dwelling out of available drift wood, which was dug partly into the sand, yet was able to shelter him from the elements. And, there in his dwelling, where he lived for months on end, were but just a few possessions. He had a make-shift counter to place some things on, which was across from a table of sorts where had a stove to cook, and on the opposite side from the entrance was his place to sleep with some blankets and such, some gear, some pots and pans, and a small assortment of dry goods. But, what I remember vividly was that big bag of oatmeal he had and the idea that here is this guy living on the beach with his staple bag of oatmeal with not much else – living so incredibly sparse! I was really taken by it, and amazed in the way he wanted to purposely experience his life. The stoicism I witnessed was why your words rang true, in the very absolute sense of that word….
By the way, I will let you in on a little secret as to why my buddies and I were so fortunate enough to be invited into this fellow’s dwelling in the first place…..
Us youngin’s were there to cop some weed. 🙂 🙂 🙂
Cheers!
CBDC’s cometh. Total Information Awareness. Imagine the AI the breakaway civilization has just waiting to plug into all that juicy financial data.
@joseph
Do you think that if we actually were able to create a learning (self-improving) machine and we released it in a nascent stage into the literal wilderness to learn from and observe nature (the more than human world) it would end up being more amicable than the scary chatbots people have cooked up today?
(When I say scary chabots I refer to platforms/entities such as Bing’s new chatbot: https://joebot.substack.com/p/mental-jigsaw-how-ai-carves-out-space )
I mean, I am not saying that the current “language model” (internet distillation and regurgitation chatbots they have unleashed) are able to learn, think or improve themselves now but if they are (or become capable of doing so) I imagine learning from humanity by vacuuming up all the ugliness on the internet would not result in the formation of a particularly healthy machine mind.
Thus, though I am not a proponent of developing AGI my self (at least not at this point in the human story), considering the relentless push to create AGI, I contemplate alternative models for how they might learn in way way that might yield more favorable results.
Question for Corbett: MSM have never attempted to mask their contempt for Trump and Putin, and are still peddling the claims that “Russian disinformation” led to Trump’s 2016 election victory — while simultaneously claiming that Biden’s election victory is 100% legitimate. Do the events of the ICC’s arrest warrant for Putin and Trump’s mention of his supposed “impending” arrest coincide, and could the U.S. have influenced or manipulated the ICC into its decision? Could more bank “failures” be planned during the wake of these events?
RE: 3/16/2023 FLASHBACK: G20 Rules Make Bank Bail-ins a Reality (2015)
I am really glad that I watched this.
The information is so relevant as to what is going on.
Wall Street, commodities and the markets are on edge big time.
The ZeroHedge headlines would make any CEO nervous.
The Fed Chairman delivers his sermon on Wed 3/22 about interest rates.
Gold just now broke $2,000 and wavers. Oil broke with its swiggly channel and has been sliding rapidly lower the past two weeks with WTI now kissing $64.
I’m so, so old.
I am used to the conservative suit-dressed banker image.
Now-a-days, the banking industry demands woke filled ethics and Broadway auditions.
Watch the videos in this article.
Would you trust these people with your money?
Watch: Woke Signature Bank Videos Go Viral After Fed Shut-Down
https://www.zerohedge.com/political/watch-woke-signature-bank-videos-go-viral-after-fed-shut-down
USA Today March 19, 2023 headline
Close to 190 banks could face Silicon Valley Bank’s fate, according to a new study
FDIC – Federal Deposit Insurance Corporation
TRANSCRIPT EXCERPTS from FDIC Meeting held 4 months ago…
FDIC Advisory Member Herring:
“…So, I think that your strategy should be to disclose as much as possible to people who professionally need to know about it…
…But I don’t think that you have much hope on reaching a public that doesn’t have a professional need to know….”
(public getting their information in Tweets)
FDIC Advisory Member Cohn:
“I completely agree with that. I almost think you’d scare the public if you put this out. Like, ‘Why are they telling me this? Should I be concerned about my bank?’…
…I think that you have to think about the unintended consequences of taking a public that has more full faith and confidence in the banking system than maybe the people in this room do.”
(Laughter around the boardroom table)
“That we want them to have full faith and confidence in the banking system…
There’s a select crowd of people that are in the institutional side…they’re going to find a way to understand this…
…But I would be careful about the unintended consequences of starting to blast too much of this out to the general public.”