The Great Recession 2.0 will have Donald Trump’s name all over it if he follows through on his promise to deregulate Wall Street. And it sure looks like he’s heading in that direction with the choice of Steven Mnuchin to become Treasury Secretary.
Mnuchin is the very definition of a Wall Street swamp dweller. The former Goldman Sachs henchman earned the nickname of ‘Foreclosure King’ after putting more than 35,800 Californian’s out in the streets, while raking in billions for himself. Mnuchin achieved this feat by buying up banks drowning in bad mortgages, foreclosing on the homes, then selling the failed banks back to US taxpayers for bailout money.
If what Mnuchin did was part of a Hollywood movie, the audience would have surely cheered if this evil villain was annihilated in the final scene. But this is real life; and, in America, billionaires are rewarded with even more wealth when they commit heinous acts of cruelty against defenseless people.
Republican Economic Disaster 2.0
If you recall, the Wall Street-induced economic meltdown of 2007, was staged by the last Republican to inhabit the White House; George W. Bush. Like Trump, Bush did the bidding of his capitalist cronies and put financial industry deregulation on steroids. Coupled with massive tax cuts for the super-rich, also on the table in the Trump administration, the rigged system was on full display. The result was millions of working class Americans on the losing end of the deal, as they helplessly watched their life savings and retirement plans evaporate in the tumbling stock market.
If there is one thing you can count on with a Republican in the White House, it’s the implementation of the same deceitful policies over and over, and expecting voters to forget that they’re being screwed. Therefore, it’s only a matter of time before the greedy, soon-to-be unsupervised offspring of Trump’s swamp send global markets into the abyss – again. But don’t expect it to turn out the same in the end. The swamp creatures know exactly what they’re doing and already have a plan.
The Swamp Slime Hidden in the 2014 G20 Summit
The biggest difference between the 2007 financial crisis and the next implosion of ‘too big to fail’ banks is the unlikelihood of a similar type of bailout. Next time, it will be much worse for consumers. The reason for that is a little-known detail included in the 2014 G20 Summit, which changed the way banks can treat the money of its depositors.
On Nov. 16, the G20 will implement a new policy that makes bank deposits on par with paper investments, subjecting account holders to declines that one might experience from holding a stock or other security when the next financial banking crisis occurs. Additionally, all member nations of the G20 will immediately submit and pass legislation that will fulfill this program, creating a new paradigm where banks no longer recognize your deposits as money, but as liabilities and securitized capital owned and controlled by the bank or institution.
That means the next time failing banks create an economic crisis, they will legally be allowed to seize the money in your bank account and keep it for themselves.
This model was used during the economic meltdowns in Cyprus in 2013, and again in Greece in 2015.
As Natural News points out, account seizures in Cyprus destroyed trust in the banking system.
The government of Cyprus just destroyed that trust across the entire EU. How did it accomplish this feat of destruction? By raiding the private bank accounts of everyone with a checking or savings account. In a surprise act of nationwide government theft, the government of Cyprus — under orders from the IMF and German bureaucrats — simply looted private bank accounts, stealing up to 10% of private account deposits.
Trump Will Make Banking Scams Great Again!
Liberty News Now further explains the consequences of the under-publicized deal-making of the world’s sleaziest politicians, including those from the United States. Under the G20 agreement, it is clear that governments have no intention of protecting the money of working class depositors.
In point of fact, the IMF has stated an unambiguous right to take depositors’ money without repercussions. Bail-ins are “a statutory power of a resolution authority to restructure the liabilities of a distressed financial institution by writing down its unsecured debt and/or converting it to equity. The statutory bail-in power is intended to achieve a prompt recapitalization and restructuring of the distressed institution.
So the confiscations that happened in Cyprus are not only perfectly legal everywhere in the world, there is no protection at all implied for the typical depositor.
And there you have it. The theft of bank accounts has already been rehearsed. And the reality TV star headed for the Oval Office has the keys to the vault at the US Treasury. Donald Trump has nothing to lose by selling out the people who sent him to Washington to drain the swamp. Perhaps because he had no intention of draining it in the first place.
To contact your member of Congress, call the Capitol switchboard at 202-224-3121.
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