The Greek Government might force a major shift in the global financial system on Monday 11th May.
For those who have been watching the financial system will know that China and others in the BRICS nations ( Brazil, Russia, India China and South Africa) have decided to setup a new World Bank in opposition to the IMF- International Monetary Fund which is controlled by USA and Europe.
“The present, inequitable IMF-World Bank system is collapsing under the burden of hundreds of trillions of dollars of unpayable global debts and derivatives obligations, including the Australian banking system’s derivatives exposure of more than $27 trillion. This is the legacy of decades of reckless financial speculation unleashed by IMF-enforced deregulation, and is the driver of the world’s present strategic tensions which have increased the threat of a thermonuclear world war.
Through such new financial institutions as the $100 billion New Development Bank, the $100 billion Asian Infrastructure Investment Bank (AIIB), the $40 billion Silk Road Development Fund, the $20 billion Maritime Silk Road Fund, and the planned Shanghai Cooperation Organization (SCO) bank, the BRICS nations will direct massive investment in much-needed physical infrastructure projects on which all nations can collaborate, forging a basis for lasting global peace and economic prosperity.” Source :Citizens Electoral Council
On Monday the Greek Government will meet the EU Bankers to discuss the Greek debt issue, if this meeting goes bad then we could see Greece leave the EU totally and it would then default on its debt. That could in a worse case scenario cause a domino effect with other nations causing a systemic failure of the global banking system.
The Australian Banking System is not immune to these developments and are not as financially sound as we all think! Australian Net foreign debt has risen since 2008 by over 44 per cent, from just under $600 billion to over $865 billion, $639 billion of it in the private sector.
This graph shows the Debt Vs Capitalization of the Australian Banks in 2011-12 – now in 2015 the situation is 10 Trillion dollars worse in only 3 years! Only the Yellow are bank Assets! Green are our funds which is a liability to the Bank and Red is derivative liabilities.
What happened in 2008-9 our dollar dropped from .98c to USD to only .60c and the world came to the brink of global financial meltdown according the the CEO of ANZ Bank. Now since Nov 2014 the G20 nations are quietly setting up the Bail in laws that will legally allow the Banks to confiscate their depositors funds and force their customers ( you and me) to accept Bank shares under the guise of we are “Too Big to Fail”! We have allot of good people who work in the banking system and they are not deliberately seeking to crash the system – but after learning about the history of global banking over the last 300 years it has become clear that there are a small group of people who seem to control to entire system. These people do seem like they want to own the world and the reason why is actually found in the bible.
Do you want to understand the history behind this monumental swindle and how the global financial system really works? Then can I encourage you to read or listen to via www.audible.com – The Creature from Jekyll Island by G Edward Griffin. After this book you will never look at the banking system the same way and it is a must for any serious student of history.