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“The bail in”

Wowsa. So I’m listening to VCY America’s Crosstalk Show (KVDI 99.3 FM Huxley, IA) this afternoon, and I hear them talking about a “bail in”. They were talking first about a woman cafe owner in Greece (they are always having a run on the bank) who just had $80,000 Euros taken out of her account ($100,000 dollars). The government drops in an IOU and that’s all she wrote!

In the last few years I’d heard about a variation on this called “negative interest rates“. When I’d first heard that 5 or 10 years ago I’m thinking, “What in the sam hell is that?” Math has always been shaky ground for me anyway, but negative interest? That’s where the bank charges you money to hold/use your money. Kind of a ‘lose – lose’ proposition.

Switch to the “digital dollar“. Doing away with hard cash and making every transaction electronic. The truckers at last years protests in Canada found out how great that was, Trudeau’s commie’s shut off their bank accounts. No money equals no fuel, no food, no rent. Pelosi and Biden had the rollout for a digital dollar for us set for 2024. I don’t know if the Republicans taking the House will delay that or not.

But aside from my natual suspicion of government, I couldn’t figure out why they wanted it so bad. But the Crosstalk show brought it home. Its the ability to suck out your money and drop in an IOU. They’re broke. They need money. You can “bailout” say a car maker, but you can’t “bailout” the government. That’s a “bail in”. They just steal from you, only they don’t call it that.

They put forth several scenarios of how they might do it. A “cyber attack”, forcing them to do this. Or they could describe it as the only way to “save” the country. But I’ve always thought there would have to be a currency devaluation along with it. They can’t afford a 1: 1 exchange I wouldn’t think. I’ve always felt they’d give 60% on the old dollar. They call the new money CBDC (central bank digital currency).

They wound up the show with another interesting prediction. California wants to pay “reparations” to black people. The cost of the project runs into the trillions. Since a State can’t print money, how would they pay for it? A “white tax”. I thought that was pretty interesting. Once they got the digital currency in the white tax would be child’s play. It would go along with the Social Cedit Scoring they want to impose on you.

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Published by Iowa Life

Experiencing life in Iowa.

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