Slovakia Protects Cash – Digital Euro – Monetary Tyranny – Cash is King – Pfizer Jabs 32% Placebo? — Fraud? –Pfizer Shares Plunge — Utopia Described — Globalists at Work — Hunger in UK – [07-02-2023]

Hat Tip to my colleague at:  BOOM Finance and Economics who posts weekly Subscribe to BOOM, it’s free http://boomfinanceandeconomics.substack.com/ . And at: COVID GLOBAL NEWS Updated TWICE Weekly: https://cmnnews.substack.com/

BOOM Finance and Economics seeks out the very best information from authoritative sources and strives for consistency in its quality and trustworthiness. Over 5 years, BOOM has developed a loyal readership which includes many of the world’s most senior economists, central bankers, their senior advisers, fund managers and academics.  If you want a real edge in understanding the complex world of finance and economics, subscribe to BOOM on Substack or as a Follower on LinkedIn.  BOOM is also published weekly on Sundays at WordPress: https://boomfinanceandeconomics.wordpress.com/ where all previous BOOM Editorials are available — the entire Archive.

THIS WEEK’S EDITORIAL

PHYSICAL CASH MUST BE KING – Cash should always be issued by the Sovereign of a Nation upon the demand or request of the people or issued by the peoples’ elected representatives subject to Parliamentary procedure in a Republic. It should be non-interest bearing and free of all fees. It should be fungible and anonymous.

As stated in the BOOM editorial of 18^th June — “BOOM is a strong supporter of the role of physical cash in any economy.  Cash is the people’s money, issued (usually) by the Sovereign treasury (not by the banking system), non-interest bearing, a buffer against credit money dominance, anonymous in usage, perfectly fungible, and a natural hedge against CPI inflation. Only a foolish nation abandons its currency, either in a currency union or in the form of physical cash. Any central bank that cannot see this is also foolish in the extreme. And any government that cannot see this is worse than foolish. It is acting in treason against its own people.”

SLOVAKIA CHANGES CONSTITUTION TO PROTECT CASH;
THE DIGITAL EURO ANNOUNCED BY THE EUROPEAN CENTRAL BANK

Everyone has the right to pay for the purchase of goods and services in cash, says a new amendment to the Slovakian Constitution. The amendment was passed last week in the Slovak Parliament. The aim was to protect physical payments in cash from a future in which electronic cash becomes available.

The MP, Miloš Svrček, said during a parliamentary debate “It is very important that there is a provision in the Constitution based on which we can defend ourselves in the future against any orders from the outside, saying there can only be digital euro and no other payment options.”

The EU Commission’s digital Euro proposal was revealed in an official announcement by the European Central Bank last Wednesday, on 28th June. The plan is for it to be controlled by the European Central Bank (ECB). The announcement had three key points:

1. The Proposed legislation establishes a “framework” facilitating the possible introduction of a digital Euro that is widely usable and available throughout the Euro area.
2. The European Central Bank “welcomes the European Commission proposal to protect legal tender status of Euro cash” and
3. The Governing Council (of the ECB) will decide in the autumn whether to move to the next phase of the digital Euro project.

Let’s speak plainly so that any citizen in the Euro Area can easily understand what this actually means.

An unelected European Commission and some unelected officials of the European Central Bank have decided that they are planning to grant themselves the right to issue money that the people can use, under their terms. And they will do this with the assistance of unelected commercial bankers.

THIS IS MONETARY TYRANNY PLAIN AND SIMPLE

How do these three unelected groups of people claim the right to issue their electronic cash to other unelected people? The legal framework for such a self-appointed initiative seems highly questionable to BOOM.

The announcement is at pains to state that the “people” will continue to have their right to the use of physical Cash.

Quote: “The ECB welcomes the Commission’s proposal aiming to ensure that cash continues to be a vital part of the payments system. It is crucial that cash remains widely accepted in physical transactions in line with its legal tender status. People and businesses need to be able to efficiently withdraw and deposit their money. The legislative proposal ensures that both acceptance of and access to euro banknotes and coins is legally guaranteed, so that everyone who wants to pay with cash can do so.” Unquote

They attempt to deal with the tricky legislative part of the matter by stating this at the very end of the announcement – where they acknowledge that some sort of supposedly democratic process should occur. But the elected Representatives of the people who they refer to as “co-legislators” are only able to “consult” the ECB for “technical input”.

Quote: “The ECB stands ready to provide technical input to support the work of the EU co-legislators. The European Commission has recommended that the European Parliament and the EU Council consult the ECB on the proposed legislative changes. Following requests for consultation, the ECB would deliver its opinion in due course.” Unquote

The key part of the announcement should, in fact, read:

People and businesses need to be able to efficiently withdraw and deposit OUR money.

The plan reveals that people will be able to access the new electronic, digital Euros from their bank upon request.

The proposal also foresees that people could use basic digital Euro services for free. At the same time, the proposal offers private financial intermediaries “appropriate economic incentives” (that means fees) to distribute the digital euro as they do other digital means of payment (such as debit and credit cards), while “preventing excessive fees for merchants”.

Moreover, the proposed legislation supports a high degree of privacy and data protection for users, while minimising money laundering and terrorist financing risks. It enables offline digital Euro payments, to provide cash-like privacy levels.

It is still in the “investigatory phase” until October.

A member of the ECB Executive Board, Fabio Panetta, who chairs the High-Level Task Force on a digital Euro, said the intention is “to ensure banknotes remain easily accessible for citizens and businesses and widely accepted throughout the euro area.”

Others – elected Representatives of the People – are not so confident.

“It may be initially sold as an alternative, but gradually it will become apparent that it can only be exclusive,” said liberal Slovakian MP Marián Viskupič of the digital Euro plans. He warned that it would bring about “monitoring of a person’s entire life” by the ECB and called it “a social engineer’s dream”. Far-right MPs also joined in threatening the “total loss of privacy” the digital Euro could bring.

The Slovakian Parliament also passed an amendment put forward by Viskupič, which gives shopkeepers the right to refuse cash payments for “appropriate or generally applicable reasons”. This is meant to protect card-only vending machines or shopkeepers worried about robberies or germs on banknotes and coins.  BOOM is not in favour of that amendment. A ‘Trojan Horse’ if ever there was one. Reference: https://www.ecb.europa.eu//press/pr/date/2023/html/ecb.pr230628~e76738d851.en.html

COVID SHOTS – ARE THEY 32.1% PLACEBO?  IF SO – HAVE GOVERNMENTS PAID FOR NOTHING? 4.22% OF THE BATCHES MAY BE VERY BAD BATCHES – IS THIS FRAUD?
PFIZER SHARES PLUNGE
A Cardiology report worth noting is from Max Schmeling, Vibecke Manniche and Peter Riis Hansen, from Skorping and Copenhagen in Denmark, submitted to the European Journal of Clinical Investigation on January 23^rd and accepted for publication on March 26th 2023. It looked at adverse events recorded against the Pfizer BNT162b2 mRNA COVID-19 vaccine.

Shockingly, 71% of the serious adverse events reported came from just 4.22% of the batches (high risk batches) and less than 1% came from 32.1% of doses (very low risk batches).  Also, it appeared that, as more doses were given out of the higher risk vials, the greater the number of side effects were reported. Taken as a whole, this may mean that the majority of risk is in the shot (or more correctly, the batch received) and not the person who received it.

The study data involved a total of 10,793,766 doses of the Pfizer vaccine (BNT162b2) that were administered to 4,026,575 persons. There were 52 different batches of BNT162b2.
43,496 Suspected Adverse Effects (SAEs) were registered in 13,635 persons.

On the markets, Pfizer shares dropped by 4.23% last week on the New York Stock Exchange. Over the last three weeks from intra-day High to Low, the shares have fallen by 11.18%.

The report may explain why some people appear to get no side effects from the jab while others suffer severe consequences. The remaining 63% apparently may suffer some ill effects but not enough to be classified as “serious”. This suggested variability of outcome is alarming. It may even imply that the 32.1% may effectively be placebos and yet they were paid for by numerous governments worldwide. Reportedly, in the US, under Emergency Use Authorisation (EUA), the vaccine companies and their subcontractors do not have to undergo any inspections of the final filled and finished vials. This is unprecedented for a widely used product of any type.  References:

• Courageous Discourse™ with Dr. Peter McCullough & John Leake
• Bad Pfizer Vaccine Batches Account for 4.2% of doses but 71% of Serious Adverse Events
• By Peter A. McCullough, MD, MPH I am routinely asked: why are so many people who took the COVID-19 vaccines apparently fine while others are suffering heart damage, strokes, blood clots and are ending up disabled or dead? It has been suspected for many months that there may be variations in vaccine lots or batches that could partially explain these obse… Read more
• 3 months ago · 438 likes · 32 comments · Peter A. McCullough, MD, MPH™
• and the Paper, https://onlinelibrary.wiley.com/doi/epdf/10.1111/eci.13998

UTOPIA IS AN INFECTIOUS DISEASE:  Thomas More wrote a small book called “Utopia” 500 years ago. It was published in 1516 in Leuven and then reprinted in 1518 in Basel, Switzerland, the modern home of the Bank for International Settlements. It borrowed ideas from Plato’s ‘The Republic’ in which Plato had tried to describe the ideal State, a nirvana of societal governance. In it, there were elements of socialism, fascism and totalitarianism. But More imagined a State where you would own nothing and be happy.

You may have heard that from Klaus Schwab, the leader (for the time being) of the so-called and unelected, mostly secret, “World Economic Forum”, which does not represent the World, has almost nothing to do with Economics and is certainly not an open Forum.

In Utopia, Thomas More describes a rather small island State. The book was initially described as “a truly golden little book, no less beneficial than entertaining, of a republic’s best state and of the new island Utopia”.  Interestingly, the book describes Europe as being a place where kings tend to start wars and subsequently lose lots of money on fruitless endeavours. So, nothing much appears to have changed in the 500 years since publication.

The map of imaginary Utopia in the book looks very much like the Isle of Wight, off the South coast of England. There is no private property on Utopia, with goods being stored in warehouses and people requesting what they need. There are also no locks on the doors of the houses, and the houses are rotated between the citizens every ten years.

On Utopia, all people wear the same types of simple clothes, and there are no dressmakers making fine apparel. Slavery is a feature of Utopian life. Every household has two slaves. The slaves are either from other countries (prisoners of war, people condemned to die, or poor people) or they are Utopian criminals.

Utopia is a welfare state with free hospitals, euthanasia permissible by the state, priests being allowed to marry, divorce permitted. Everyone eats the same food, provided in communal dining halls, except the elderly and, of course, the administrators, who are given the best of the food. Four legs good. Two legs better. Travel on the island is permitted only with a special internal passport, and any people found without a passport are, on a first occasion, returned in disgrace, but after a second offence, they are placed in slavery. Women are mostly restricted to household tasks. Privacy is not regarded as essential in Utopia. Private gatherings are not encouraged. Banks and Bankers appear to be absent. So the money supply is presumably issued by the administrators, in their wisdom without the need for cash issuance or credit arrangements. Elections also appear to be absent.

Raphael Hythloday, whose name translates as “expert of nonsense” in Greek is a major character in the book. Perhaps the World Economic Forum has a similar “guru”? Can you guess who that might be?

Utopia, the book’s title, translates to “Nowhere” from Greek, but perhaps the most noteworthy aspect of Utopia is the fact that the island contains no lawyers. Oh joy, indeed.

Then, in the early 19^th century, a Frenchman with a vivid imagination, Charles Fourier, expanded the vision of More’s Utopia into “Utopian Socialism”, replete with feminism and communes. He called his communes, Phalansteres. Fourier invented the word “feminism”. He was also worried about the oceans and the climate (!).

All of this this has grown to become the philosophical underpinning to Western globalism. After making a journey through Marxism, Hitler’s National Socialism, Communism and various Secret Societies, the globalists are now seeking to (finally) build their Utopia (Heaven) on Earth where they can achieve immortality via the worship of trans-humanism, technology and technocracy while they impose slavery on everyone else.

Their opponents do not believe in a man-made Utopia on Earth. They are pragmatists (who are sometimes believers in a Heaven not on Earth). However, they are all bitterly opposed to the return to Feudalism.

GLOBALISTS AT WORK: You can watch the globalist cult at work today and over the last 3 years especially, trying to create their special version of “Utopia” – one of racial purity achieved through trans-humanism – the combination of man and machine, coupled with a supreme adoration of technology and technocracy. Fear is their Currency of Control and mistakes are never admitted. To “Follow The Science” is their deliberate lie. But remember, you will own nothing and you will be happy.

Our globalists believe that Fear Never Fails. It always works to subdue and control. They then use isolation as a strategy of torture (social distancing and lock-downs). And, once their victims are isolated, they torture them even more until they feel disconnected from family, friends and even society.

Eventually, their victims may become attracted to the idea that their captors have good intentions. However, torture combined with fear and isolation predictably result in Stockholm Syndrome. In Stockholm Syndrome, the captured fall in love with their captors and will do anything to please them. Beware, slavery is the end State of Control.

The antidote to this poison is social connection as practised by the 8 Billion people who live on Planet Earth. This will happen as the globalists are clearly heavily outnumbered and must surely eventually fail in their quest, becoming themselves captured, isolated, alone and fearful. Their yearning for complete power over the planet and its people will be usurped by the People.

MILLIONS FACE HUNGER IN UNITED KINGDOM
RISHI SUNAK AND BORIS JOHNSON ARE NOT HUNGRY

With food inflation approaching 20% pa in the United Kingdom, many citizens are struggling to pay their grocery bills. The Trussell Trust in the UK runs more than 1,200 food banks across its network. That is two-thirds of the UK total. They released a report last week stating that one in seven people in the UK faced hunger last year due to a lack of money. The survey said this equated to an estimated 11.3 million people.

In the report, the charity said it provided a record 3 million food parcels in the year to March, a 37% surge and more than double the amount delivered five years ago. It added that the latest findings were “just the tip of the iceberg.” It issued 823,145 food parcels from April to September 2019, of which 301,653 went to children. This was 23% more than during the same period in 2018. Insufficient benefit income caused 36%, delays in benefit payments caused 18% and changes to benefit caused 16%.

The Chief Executive of Trussell Trust, Emma Revie said. “Food banks are not the answer when people are going without the essentials in one of the richest economies in the world. We need a social security system which provides protection and the dignity for people to cover their own essentials, such as food and bills”.

On 22nd June, the Prime Minister, Rishi Sunak, looking very well fed and well dressed, said “it’s going to be okay and we are going to get through this.” He also said that the public will be able to judge him in “six months, nine months, a year” on how he is doing and whether the economy is healthier.”  We shall see.

In the political world, that is called “kicking the ball down the road”. Regardless of outcome, the next step, further down the road, is to “claim victory and move on”, hoping that everybody has forgotten what he said previously.

In the famous British comedy series, “Yes Minister”, Sir Humphrey Appleby had many more of his politico-speak excuses ready for every situation. The series was hilarious as the public servants misled their Minister at every turn, using language that was rather inventive, to say the least.

“We are going to get through this” would have fitted into many “Yes Minister” scripts nicely.

SPAIN INFLATION LOWER THAN 2%!  Meanwhile, over in a land of more sunshine and less rain, June CPI inflation figures for Spain were released last week. Spanish inflation is now comfortably below 2%, and the core rate (though higher) is expected to slow as well.

QB Explained: https://boomfinanceandeconomics.wordpress.com/2019/12/15/boom-as-at-15th-december-2019/  AND BOOM’s Perfect Economy: https://boomfinanceandeconomics.wordpress.com/2020/01/18/boom-as-at-19th-january-2020/

In economics, things work until they don’t.  Until next week.  Make your own conclusions, do your own research.  BOOM does not offer investment advice.

CLICK HERE FOR PODCASTS:   OUR BRAVE NEW ECONOMIC WORLD

BANKS DON’T TAKE DEPOSITS, THEY BORROW YOUR MONEY: LOANS CREATE DEPOSITS — that is how almost all new money is created in the economy (by commercial banks making loans). https://www.bankofengland.co.uk/quarterly-bulletin/2014/q1/money-creation-in-the-modern-economy Watch this short 15 minutes video and learn as Professor Richard Werner brilliantly explains how global banking systems really work.

AND Watch for 4 minutes, this Bank of England explanation: Money is essential to the workings of a modern economy, but its nature has varied substantially over time. This video describes what money is today.

Most economists are unaware of this and even ignore the banking & finance sectors in their econometric models.

On 25th April 2017, the central bank of Germany, the Bundesbank, released a statement on this matter — “In terms of volume, the majority of the money supply is made up of book money, which is created through transactions between banks and domestic customers. Sight deposits are an example of book money: sight deposits are created when a bank settles transactions with a customer, ie it grants a credit, say, or purchases an asset and credits the corresponding amount to the customer’s bank account in return. This means that banks can create book money just by making an accounting entry: according to the Bundesbank’s economists, “this refutes a popular misconception that banks act simply as intermediaries at the time of lending – i.e. that banks can only grant credit using funds placed with them previously as deposits by other customers”. By the same token, excess central bank reserves are not a necessary precondition for a bank to grant credit (and thus create money).” Reference: https://www.bundesbank.de/en/tasks/topics/how-money-is-created-667392

The Reserve Bank of Australia (Australia’s central bank) has also contributed to the issue in a speech by Christopher Kent, the Assistant Governor on September 19th 2018…“the vast bulk of broad money consists of bank deposits” “Money can be created…when financial intermediaries make loans“ – “In the first instance, the process of money creation requires a willing borrower.” “It’s also worth emphasizing that the process of money creation is not the result of the actions of any single bank – rather, the banking system as a whole acts to create money.”

DISCLAIMER:   All content is presented for educational and/or entertainment purposes only. Under no circumstances should it be mistaken for professional investment advice, nor is it at all intended to be taken as such. The commentary and other contents simply reflect the opinion of the authors alone on the current and future status of the markets and various economies. It is subject to error and change without notice. The presence of a link to a website does not indicate approval or endorsement of that web site or any services, products, or opinions that may be offered by them.

Neither the information nor any opinion expressed constitutes a solicitation to buy or sell any neither securities nor investments. Do NOT ever purchase any security or investment without doing your own and sufficient research.  Neither BOOM Finance and Economics.com nor any of its principals or contributors are under any obligation to update or keep current the information contained herein. The principals and related parties may at times have positions in the securities or investments referred to and may make purchases or sales of these securities and investments while this site is live. The analysis contained is based on both technical and fundamental research.

Although the information contained is derived from sources which are believed to be reliable, they cannot be guaranteed.

Disclosure: We accept no advertising or compensation, and have no material connection to any products, brands, topics or companies mentioned anywhere on the site.

Fair Use Notice: This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of issues of economic and social significance. We believe this constitutes a ‘fair use’ of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit. If you wish to use copyrighted material from this site for purposes of your own that go beyond ‘fair use’, you must obtain permission from the copyright owner.