SOZT
We have long stated that
banks would fail
http://www.zetatalk.com/newsletr/issue811.htmand be replaced by the barter system, where something real can be exchanged.
We have called the financial industry
a Paper Promise,
http://www.zetatalk.com/index/zeta156.htmessentially a confidence game where something real is replaced by a promise.
The value of a currency is dependent upon the economic health of the country issuing the currency, and history shows that the Banana Republic
http://www.zetatalk.com/ning/19no2011.htmsyndrome can hit any country.
Certainly, the pending Pole Shift will do that to all.Bitcoin promised
https://www.zetatalk.com/ning/31ja2018.htmto be free of country and bank affiliations
but is now collapsing
https://www.zetatalk.com/ning/30ap2020.htmon the fact that is has no worth other than on a spread sheet.
A coin without a country has no support.
We predicted that the BRICS network
https://www.zetatalk.com/newsletr/issue707.htmwould be strong against the western banking network of the World Bank and IMF and that has been the trend.
The US Dollar is currently holding its strength as a currency, primarily because the rest of the world is struggling.
But under the management of the Biden Administration, this will soon falter.
We are being asked to detail our prediction so that those in the finance industry can plot their course as they march toward the cliff.
We have mentioned that as banks fail
- forced to payout savings accounts and cash out portfolios and unable to pay their fat cat staff high salaries -
they will fold into the Central Banks.
https://www.zetatalk.com/ning/30ap2020.htmMeanwhile, as the Earth changes create corporate bankruptcies so that any of their real assets become just another spread sheet entry,
and as foreclosures force home auctions at rock bottom prices,
those who considered themselves wealthy will be bereft.
The time of the Barter Systemhttp://www.zetatalk.com/ning/30no2019.htmwill be at hand.EOZT
Prior ZT:
https://www.zetatalk.com/ning/30ap2020.htmBitcoin is without borders as it does not have a home country, and thus where it is not backed by a country, it also has no supervision or accountability. Not all banks accept Bitcoin, but it flourishes elsewhere. But without official backing, Bitcoin can disappear instantly. It is virtual money, and resides on servers that can go offline, taking any value with it.
Prior ZT:
https://www.zetatalk.com/ning/30ap2020.htmWhat is to become of the Western banking network when bank failure become endemic? The alternative is to allow banks to go belly-up into bankruptcy, be absorbed into stronger banks, and eventually be absorbed into the Central Bank in any case. For the banking systems, these are truly the End Times.
Prior ZT:
http://www.zetatalk.com/ning/30no2019.htmHow do banks fail, softly or with a hard crash? Central Banks are at present pumping more liquidity into their banks. This process can continue until the Central Bank can no longer risk running the currency at its base into insolvency. As foreclosures increase, banks will find they do not have the resources to monitor these properties, and they will be repossessed by their former owners or by strangers. Stocks and bonds will lose their value, with the Stock Markets being considered a joke.
Prior ZT:
https://www.zetatalk.com/ning/31ja2018.htmMost of the new Cryptocurrencies are being established to eventually steal from the public. The schema is to allow the currency to go into use, encouraged by celebrities or chirpy reports on how easy the new currency is to use, then boom anyone holding the electronic currency suddenly finds it has zero worth and cannot be redeemed. Bitcoin touts its safety saying it has not yet been hacked. But all computers can be hacked, when the prize is large enough. To date Bitcoin servers have only held small change, so have not been worth the effort.
Prior ZT:
http://www.zetatalk.com/ning/19no2011.htmAnd if the bankrupt entity is a country? The alternative to a change in management, forcing a head of state to resign, is to allow a country's currency to become worthless, the banana republic syndrome, whereby all the citizens suffer and anyone holding the currency takes the loss. And if a country is part of a larger conglomerate, like the European Union? Poor management of funds then pulls the conglomerate down. And if the country owes money to banks or another country via bonds and the like? How can the bank take possession of assets to cover their loss? A private citizen might own a home or car, a corporation own a factory and have trained personnel, but a country cannot simply by law sell its lands to another.
Prior 2004 ZT:
http://www.zetatalk.com/index/zeta156.htmToday it is the norm for every person, without substance to his name, to have access to credit cards that allow him to go into debt beyond his ability to repay. The debtor is given credit on the assumption that he will repay. The funds he is loaned are assumed to have worth. And all pass paper promises around as though these were based on things that could be brought forth upon demand.