THE ILLUMINATI EXPOSED | James Rickards on secret societies & conspiracies | London Real

You knew that this subtitle was going to get some people’s attention the global elite secret plan for the next financial crisis now? what are you saying about the global elites are they doing certain things before this crisis as far as Stockpiling cash doing certain [things] with their trades and are they doing this because they know better Or are they conspiring with each other and what can we learn from what you know [good] well? I don’t think it’s a conspiracy in the sense that there’s you know a small group of illuminati wearing hooded robes sitting around a mahogany table like a seeing [a] [spectre] from a James Bond movie It doesn’t work that way of course you used to hang out with those illuminati, and yeah, that’s a we’ll get to that later That’s another story, so uh but but the way it does work And I talked [about] this in the book first of all it’s not a secrets that we know they are It’s Christine lagarde her first step at the head of the Imf her first deputy managing director David Lipton Professors like Larry Summers and ken rogoff at Harvard public intellectuals here in the uk [Dare] Turner Anatole [Colette] [ski] Mario draghi head of the European Central Bank’s was a collection of Central Bankers finance ministers Academics think tankers and public intellectuals and several hundred of them around the world who collectively run the international monetary system Because they are they run the central banks or the multilateral institutions or there They are in and out of finance ministries where they have a lot of influence So that’s who they are they influence names and of what [happens] or more exact I so There’s no secret that it does another guy We know who they are okay? So then what about the the hooded robes part and the answer is they don’t need that if you just say Conspiracies fall apart they do experience. Ease are kind of easy to spot most the time. It’s more the case. They’re like-minded individuals They don’t need top-down organization because they will agree with each other they all went to the same schools they went to Oxford Cambridge mit Harvard Chicago Stanford like six or seven schools in the whole world they all went to them in many cases. They were each other’s Phd Thesis [in] violation of Stanley Fischer is the Vice Chairman of the federal reserve [form] mit professor a little older than the rest. He was living my alumnus here Look there. I know a lot of these guys I mean
[I] kind of know where [my] spade guy as I said I hung out with the 16 phds and the two nobel prize winners the long-term capital [I] share an office with my own scholz for six years so I know this milieu, [but] But stanley was the thesis advisor to a lot of the other central bankers So they’re not only like-minded they they taught each other and they all learn [the] same thing, and it’s all wrong. They’re not uneducated they’re miss educated in other words the models that they have taught themselves that they [perpetuate] [that] they’re teaching to the younger scholars are at best ObSolete and at [worst] Dangerously flawed in ways that are setting up a system for this new crisis that will be worse [than] the last two [so] they So they’re in control they’ve they’re like-minded so they don’t need a lot of coordination because they all think alike They’ve got badly flawed models, and they never see this coming. So are they trying to wreck the system no, but they [are] wrecking the system through their own kind of ignorance and misapprehension of the statistical properties of risk Meanwhile they are smart enough to know what what we’re describing? Which is that this is going to happen again? They can see it coming they don’t actually understand why but they know that nothing got fixed in 2008 one way to think about this Brian is that the Dynamics and the Mathematics of a Financial panic are Exactly the same as the collapse of any complex system anywhere in the natural world so earthquakes volcanoes Forest Fires [you] know various phenomena Vilanch is of this kind They’re not just metaphors. I mean I use them as metaphors in writing, but they’re not just metaphors the dynamics are identical and But with one difference, which is in a man-made system. You can truncate it with policy in the natural system You cannot so when an earthquake starts, what’s the North quake an earthquake is a release of energy That’s how you define and measure an earthquake when earthquakes [tarz] you can’t stop it [well], you can’t stop an earthquake in the middle So you know [timeout] you know it’s but if you could imagine if you could what would happen that energy would be unreleased But it would still be there the pressure would be there building up it just didn’t get released that time now bring that over to the to the net to the man-made systems there when the when the earthquake starts when the release of energy stars You can trunk is so you have dominoes falling boom boom boom boom you know that the last ones going to fall? Unless they drop a steel wall between two dominoes now the Domino hits when the next one doesn’t fall That’s what they did in september of 2008 they dropped a steel wall between Lehman brothers and Morgan Stanley [and] Morgan Stanley Didn’t fail but because they guaranteed every bank deposit money market fund and Currency swap in the world when they should have let it fail or nature would have let it fail well They should have let it fail now. I don’t think we should have allowed ourselves to go and do Something worse than the great depression there was a solution on the table that they never pursued because of cronyism see now we’re getting into The gangster side of it the cronyism side so what they should have [done] By executive order in the legal authority was there they could have Nationalized all the big banks not permanently because I’m not in favor of socialism But temporarily nationalize them clean them what you do is you wipe out the equity You first [well] you rip out the bad assets, and you put them over here [and] [trust] for the American people So we might take 20 years to sell them, but whenever we sell them that money goes to you the taxpayers over here We now have a clean [bank] equity you’re wiped out Bondholders, how big’s the hole [on] the balance sheet 20% haircut 40% haircut whatever it takes preferred stock you’re probably wiped out put the losses Where they where they should be put the losses on the people who deserve it which are the stakeholders in the institution [so] [now] you? Get rid of the bad assets you wipe out the equity you now ipo [or] clean bank to Raise [new] Equity and you? Start overs with citibank and Goldman all these guys private with new owners and clean balance sheets and we can get the economy moving again Okay, that is not what happened What did [they] do? They took the tarp [money] by the way tarp was the greatest bait and switch in history because hank Paulson our secretary of the Treasury went to the congress and said I want this money so I can buy the Bed assets from the bank’s point. I want to strip out the bad assets It’s not what he did he took the money and gave it to the banks as capital and they kept the bad assets Which meant that when they recovered the bankers got the profits not the people? So this was cronyism as first nobody went to jail None of the big banks failed other you know the bear stearns right so the big banks [did] [without] anchor Sorry Paulson was x bank right golden. Yeah, cool. Yeah, so so they bailed out their buddies all these guys kept their jobs They kept their phony-baloney jobs They got their million-dollar bonuses their stock price came back When things recovered the profit didn’t go to the taxpayers where it should have it went to the banks Everything about this was corrupt, but they could have done. This this you know nationalized clean up We ipo privatized and kind of move on with a clean bank, [okay]? So that was the other [odd] that was the other option was not done continue watching this fascinating conversation For free by clicking on the link below to visit our website learn from the best minds in the world and connect with a community of passionate people building the best versions of themselves [just] click on the link below and I’ll see you on the inside


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