Thread by @terry_barker21

Too true. The #SiliconValleyBank collapse is another confirmation & deepening of the #SecondGFC. Another straw in the global financial hurricane. We are seeing an acceleration of major bankruptcies in #Crypto, now #Tech. The danger is #Contagion. Do the banks have it covered? No

https://twitter.com/richardjmurphy/status/1635192879714009088

How can the banks, the Central Banks, the retail banks, Barclays Execution, manage a global crisis, without having sovereign power? They could not. They need to take over governments via threat & bullying, as they did in the #GFC financial crisis in the USA and the UK in 2008.

Bankers saved banks & the bankers in trouble, because they captured the USA Govt under Bush. It was shocking and unprecedented, but they justified themselves via PR and tame, greedy, or cowardly journalists, as “too big to fail”. The rest of us can fail & suffer, but not them.

Instead of going bankrupt, bankers took over the critical parts of government that affected them, as best they could, in secret & with malice aforethought. The consequence has been a creeping global lawlessness, corruption, & bad behaviour. Over the last 14 years, cancer-like.

In effect global money has gone bad, because those who guard, care, monitor, and create money, have been corrupted and have shirked their responsibilities, all the while putting on a show of respectability.

Hypocritical, criminal, shady, bankers & financiers, managing the world for their own pleasures with @JeEpstein and his island, private jets, address book with the famous named. The private equity funding #BrexitBritain They are condemned by association, the banker PMs & ex-PMs.

We should prepare as the #SecondGFC evolves & transmutes into global banking collapse, led by the Executioners, raising interest rates, lowering expectations, creating recessions & depression as before. Governments should recover their sovereignty and face down the banks.

Governments, taking over Central Banks, should split up the retail banks, take away the golden handshakes, the bonuses, the excess profits from monopolistic behaviour, e.g. the close similarity in function and use by the banks of their ATMs across the world.

Monopolies of money creation must be completely destroyed for the capitalist system to survive. Otherwise authoritarian #Bankockracy preceded by #Bankcollapse is likely to emerge in a disorderly manner. We need to plan for there eventualities.

#Bankockracies must be stopped in their tracks by foresight & management by Central Banks, IMF, World Bank & the Bank for International Settlements, under the jurisdiction of Governments, not the retail or wholesale banks. Governments have sovereignty, not financial institutions.