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Bank of England announces it will keep the names of non-bank financial institutions it bails out a secret

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On Monday, the Bank of England announced it will hide the identities of any pension funds, insurers or hedge funds bailed out to avoid the stigma.  This new policy of secrecy to protect banks’ identity will begin in 2025 when the central bank launches its Contingent NBFI Repo Facility.

Also in 2025, the final parts of Basel III will be implemented.  Basel III introduces bail-ins, where account holders rather than the government bail out a failing bank.

But that’s not all. In the “second half of this decade,” i.e. any time from 2025, is “the earliest” the Bank of England would issue a central bank digital currency.

In the past, wars and oil embargoes have been used to justify implementing new global financial systems.  Could we be seeing signs they are preparing for a crisis that they won’t let go to waste?

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Table of Contents

1944 Bretton Woods

In 2016, Michael Rivero published an article that set out the history of the last 260 years showing the effects of efforts by private bankers to impose their system of slavery on the world.  The Federal Reserve Act forced that system on the American people while the post-WWII Bretton Woods agreement forced it onto the rest of the world.

In July 1944, towards the end of World War II, when it became obvious that the allies were going to win and dictate the post-war environment, the major world economic powers met at Bretton Woods and hammered out the Bretton Woods agreement for international finance. The British Pound lost its position as the global trade and reserve currency to the US dollar (part of the price demanded by Roosevelt in exchange for the US entry into the war).  Absent the economic advantages of being the world’s “go-to” currency, Britain was forced to nationalise the Bank of England in 1946.

The Bretton Woods international monetary system was established by delegates from 44 nations at the United Nations Monetary and Financial Conference in Bretton Woods, New Hampshire. It established a system of fixed currency exchange rate using gold as the universal standard.

The agreement also facilitated the creation of the International Monetary Fund (“IMF”) and the International Bank for Reconstruction and Development, which is known today as the World Bank.

Read more: All Wars Are Bankers’ Wars: How private bankers have imposed their system of slavery on the world

According to Investopedia, the Bretton Woods system of fixed currency exchange rates tied to gold through the US dollar collapsed in 1971. It was formally ended in 1973.

1973 Oil Crisis and the Petrodollar

At the same time as the 1973 oil crisis, also known as the Arab oil embargo, the world economy was in recession.  The 1973 oil crisis was caused by an embargo by Arab oil-producing nations in response to US support for Israel during the Yom Kippur War.  The Organisation of the Petroleum Exporting Countries (“OPEC”) approved the embargo on 19 October 1973.

The OPEC oil embargo quadrupled the price of oil in six months. Prices remained high even after the embargo ended. The embargo also resulted in significant attitude and policy changes.  In his book, ‘Confessions of an Economic Hitman‘, John Perkins mentioned the aftereffects of the embargo:

Further reading: Economic Hit Men Are the First Line of Defence for World Shadow Government

Five months before the 1973 oil crisis, the embargo and subsequent events were discussed with surprising accuracy at the twenty-second Bilderberg Meeting held in Saltsjiibaden, Sweden.  After discussing the two papers on the agenda, the meeting had a general discussion. 

In the minutes of the Bilderberg conference, participants are named at the beginning but not in the body of the text of the minutes. The minutes of the general discussion quoted a “German speaker”:

Read more: Did the Bilderberg Group orchestrate the 1973 oil crisis?

Following the 1973 oil embargo, the petrodollar emerged as the primary medium of exchange for international oil transactions as a result of a series of agreements between the United States and oil-producing countries, particularly Saudi Arabia.

These agreements saw oil being priced in US dollars, making the dollar the de facto global currency for oil trade. Saudi Arabia agreed to sell its oil exclusively in US dollars, ensuring a steady demand for dollars and reinforcing the dollar’s status as a reserve currency. And oil-producing countries, including OPEC members, would recycle their petrodollar surpluses by investing in US Treasury bonds, financing US government deficits and supporting the US economy.

In the 1990s-2000s, as oil prices rose, oil-producing countries began to diversify their investments, reducing their reliance on US assets. The petrodollar’s influence began to wane.

Today, the petrodollar’s significance has diminished further, as oil-producing countries have increased their use of local currencies and alternative reserve currencies, such as the euro and Chinese yuan. The rise of alternative payment systems and digital currencies has also eroded the petrodollar’s dominance.

Further reading:

2008 Global Financial Crisis

In 2016, Mark Arnold found evidence that the 2008 financial crisis, widely referred to as The Great Recession, was not caused by banks acting recklessly.  Rather, it was set up by the Bank for International Settlements (“BIS”) imposing an accounting policy on US commercial banks only months before.

Mark-to-market is an accounting technique used to reflect the current market value of a company’s assets, liabilities and equity on a daily basis.  The accounting method values assets and liabilities on a bank’s balance sheet at “fair value,” their current market price, which is determined by market forces, such as supply and demand. It requires daily revaluation of assets and liabilities to reflect changes in market prices.  Market prices reflect the price that would be received to sell the asset or paid to transfer the liability in an orderly transaction between market participants.

It differs significantly from the transactional value method which shows assets and liabilities at cost on the balance sheet.

The mark-to-market method doesn’t come without its challenges. Mark-to-market models can be subject to errors and biases, which can impact the accuracy of valuations; in illiquid markets, it may be difficult to determine a fair value; and, can be complex and require significant resources and expertise, particularly for companies with large and diverse portfolios.

More importantly, because it is merely an accounting principle, in times when markets are volatile, this can significantly impact the appearance of liquidity of a bank while not being the case in reality.

In an introductory article to his six-part series ‘Hitler’s Bank: The Unknown Story Of The Bank For International Settlements’, Arnold explained what happened in 2008:

Read more: Mark-to-market: A BIS scheme that helped to set up the 2008 Global Financial Crisis

Effectively, according to Arnold, what happened in 2008 was, along with laws that were passed or repealed by the US Congress to de-regulate investment banking, the BIS changed the accounting rules for banks which gave the appearance that they did not have sufficient assets to cover their liabilities and so caused a “credit crunch” – problem, reaction, solution.

The 2008 financial crisis led to the development and implementation of the BIS’s Basel III standards.

2025 Bank of England Tool

On Monday, Bloomberg reported that the Bank of England (“BoE”) will keep hidden the identities of pension funds, insurers, and liability-driven investment funds that use its new Contingent NBFI Repo Facility (“CNRF”) to prevent stigma attached to bail-outs. NFBI stands for “non-bank financial institution.” A repo facility, also known as a repurchase agreement facility, is a type of short-term borrowing mechanism used by central banks, governments, and financial institutions to manage liquidity and stabilise financial markets.

The CNRF is a tool designed to operate as a backstop to the gilt market (UK government bonds market), which is crucial to UK financial markets, and will be activated during times of extreme stress when gilt market dysfunction threatens financial stability.  The facility will allow users to place collateral, such as gilts, with the BoE in exchange for cash, with a “haircut” on the collateral to protect the central bank against losses.

Deputy Governor Dave Ramsden stated that the decision to create the CNRF reflects changes in the structure of financial markets since the 2008 financial crisis.  The development of the CNRF tool is a recognition of the changed financial risks, and the decision to keep identities secret reflects lessons from the financial crisis when stigma prevented banks from using standard BoE liquidity facilities.

The BoE has delayed the launch of the CNRF until the start of 2025, but the necessary systems changes are in place and the facility may potentially be extended to hedge funds in the future.

Bloomberg was reporting on a speech delivered by Ramsden at an Official Monetary and Financial Institutions Forum (“OMFIF”) event.

His speech highlighted the continued shift in activity to non-banks and considered how the Bank’s (BoE’s) balance sheet can be used to support the evolving financial system.

One of the pieces of evidence that there is a new tendency to volatility in financial markets and the wider financial system, Ramsden said, is that “developments in technology alongside greater market concentration and inter-connectedness mean we are more likely to see large swings in prices, particularly intraday, as markets can react faster to information and are more prone to herding behaviour.”

“Is that new volatility a sign of increasing financial instability? No, it is not,” he said. “Market volatility does not equate to financial instability, but we have to monitor and act on those developments appropriately, at the firm level, system-wide level and, importantly, in the operation of the Bank’s balance sheet.”

Stigma?  What stigma?  Would that be the stigma that the public will know how much the BoE is bailing out individual non-banking institutions and so be subject to public scrutiny, however limited that might already be?

Additionally, considering the history of using crises such as wars and oil embargoes to change the global monetary system, what do you think they know but aren’t telling us?

2025 CDBCs and Bail-Ins

Coincidentally, two major shifts in the global monetary system are planned for next year: central bank digital currencies (“CBDCs”) and the final implementation of Basel III standards.

Earlier this year, Brandon Smith author at Alt-Market wrote:

On its website, the BoE says, “We haven’t made a decision on whether we will introduce a digital pound [a CBDC]. The earliest we would issue a digital pound would be the second half of this decade.” 

The second half of this decade begins next year, 2025.  Concurrently, Basel III is being implemented in the UK.  A press release from BIS in October announced that “members unanimously reaffirmed their expectation of implementing all aspects of the Basel III framework in full, consistently and as soon as possible.”

Basel III introduces bail-ins.  Bail-ins and bailouts are designed to prevent the complete collapse of a failing bank. The difference between the two lies primarily in who bears the financial burden of rescuing the bank.

In a bailout, the government injects capital into banks, enabling them to continue their operations.  We saw this happen after the 2007-2008 financial crisis.

With bail-ins banks use the money from depositors and unsecured creditors to help them avoid failure.  Depositors, the bank’s customers, include you, me and anyone who has money in a bank account.

Read more: 63 central banks are implementing Basel III which includes the widespread practice of “bail-ins” to rescue failing banks

Since 2018, the UK has been implementing Basel III.  While some aspects of Basel III have already been implemented, the UK’s implementation is ongoing.  The next milestone is 1 January 2025, when the Basel 3.1 framework will be introduced in the UK. 

Basel 3.1 is the name given to the parts of the Basel III standards that remain to be implemented in the UK.  This final package of Basel III standards to be implemented was referred to as “Basel 3.1 standards” in a consultation paper issued by the Prudential Regulation Authority in November 2022.  Basel 3.1 mainly addresses the measurement of Risk Weighted Assets (“RWAs”).

RWAs are a bank’s assets or off-balance-sheet exposures, weighted according to their risk. They are calculated by multiplying the value of each asset by its respective risk weight.  This calculation is used to determine the minimum amount of capital a financial institution must hold. The more risk a bank takes, the more capital is needed to protect depositors.

That may well be all well and good.  But with the introduction of bail-ins, the banks’ customers are being anything but protected, especially if we consider that BIS accounting rules played a significant role in setting up the 2008 financial crisis, for which the public paid dearly. Could the plan be to crash the banks with accounting rules, instigate a bail-in and then offer the banks’ customers CBDCs for their lost deposits; one digital pound for each pound on deposit?  It would force sufficient numbers onto a CBDC system, enough to make the remainder adopt them, whether they liked it or not.

For non-bank financial institutions, the intention to hide the names of which institutions are being bailed out, and by how much, by the BoE seems, again, to be a measure to protect financial institutions, not depositors or investors.  Decisions being made behind closed doors and then the effects of those decisions being kept secret is never a good sign.  What are they up to?

Further reading:

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author avatar
Rhoda Wilson
While previously it was a hobby culminating in writing articles for Wikipedia (until things made a drastic and undeniable turn in 2020) and a few books for private consumption, since March 2020 I have become a full-time researcher and writer in reaction to the global takeover that came into full view with the introduction of covid-19. For most of my life, I have tried to raise awareness that a small group of people planned to take over the world for their own benefit. There was no way I was going to sit back quietly and simply let them do it once they made their final move.

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Cheery Charles
Cheery Charles
9 months ago

At 5 minutes and 20 seconds Ann Barnhardt explains REPOs. She tries to keep simple.

“The Economy Is Going To Implode” Pt.6 of 8

https://www.youtube.com/watch?v=3DK4RpzWjkQ

Cheery Charles
Cheery Charles
Reply to  Cheery Charles
9 months ago

At 14 minutes it gets quite entertaining. At 23 minutes she has a dire warning about the threat to entire nations of these financial shenanigans.

vaboon
vaboon
Reply to  Cheery Charles
9 months ago

gosh, and this was 8 years ago….

Cheery Charles
Cheery Charles
Reply to  vaboon
9 months ago

Yesterday soon after you posted vaboon, I replied, but it was blocked, needing approval. It hasn’t appeared. Perhaps it was too long, so I will split it in two and post the two parts below.

Cheery Charles
Cheery Charles
Reply to  vaboon
9 months ago

Eight years – that is a point worth making. Does this mean that she is wrong? Maybe she is a cranky conspiracy theorist.

We read articles and watch videos and have to wonder about them. For two or three years I have been reading about nanobots in the so-called vaccines. Now we are told that they are not nanobots. What else will turn out to not be true?

However, I think she does understand this topic and what she has to say is true. I believe that she ran her own brokerage but closed it down because she could see that the things she talks about (you need to watch all eight parts) posed a threat to her clients’ money and she didn’t want to be part of the system.

Many people have financial knowledge and experience and give warnings, but even though “The end is nigh” we never seem to get the end of the world. One example –

“Greyerz – $32 Billion Implosion Of FTX May Usher In Collapse Of The Entire Global Financial System” – that was in November 2022.

https://kingworldnews.com/greyerz-32-billion-implosion-of-ftx-may-usher-in-collapse-of-the-entire-global-financial-system/

But people like that man, Greyerz, and Ann Barnhardt are giving warnings based on sound economic principles and financial law – i.e. on how things ought to be when rules and laws are followed.

We live in a corrupt world of financial lies, cover-ups (and here is another cover up by the B-o-E) and false economic data \ official figures.

From March, 2021 – “Financial System Fake La La Land – Dr. Mark Skidmore”.

https://usawatchdog.com/financial-system-fake-la-la-land-dr-mark-skidmore/

“In Britain, Free Markets Are Dead”

“A financial crisis of humungous proportions is lurking in the wings, which in this analyst’s opinion has a fair chance of wiping out all rapacious states’ income entirely by collapsing their fiat currencies” – and he gives a good supporting argument.

https://www.goldmoney.com/research/free-markets-last-stand

Cheery Charles
Cheery Charles
Reply to  vaboon
9 months ago

That didn’t work, the first part was blocked, needing approval. I’ll try the second half, but it won’t make as much sense without the first half.

The second half –

Could the threat that Ann Barnhardt foresaw have been averted by market rigging?

So in this corrupt world, how far are they prepared to go? Some headlines –

From July, 2023 – “China’s Politburo Aims To Stabilize Property Market By Intensifying “Counter-Cyclical Adjustments”. “Adjustments” means fiddling the figures.

From September, 2023 – “Fed Engages In Shocking Seasonal Adjustments To Convert $92BN Bank Deposit Outflow Into $36BN Inflow”. “Adjustments” means fiddling the figures.

From September, 2024 – “Rachel Reeves ‘will rewrite fiscal rules in Budget so government can borrow another £30 BILLION for projects’ – despite debt pile already being at an 80-year high” Rules were meant to be broken. There are no rules, they do what ever they like.

From November, 2022 – “Fiscal black hole of £50bn is a myth because it was calculated in ‘artificial and uncertain’ manner, economists claim”.

Hmmm, fiscal black hole, where have I heard that before?

Did we come close to the things Ann Barnhardt warned about?

From October, 2022 – “BoE’s New Support Plan Fails As UK Gilt Yields Explode Higher”.

From October, 2022 – “It’s A Global Margin Call. I Hope We Survive”.

So, through market rigging and “adjustments” they keep the wheels from falling off, and could this be why they do it –

“The Fed’s Real Mandate” – October, 2022.

In it – “The real mandate of the Fed is serving its masters, the political elites, by financing government spending and debt, bailing out cronies, and supporting the political process, including the Fed’s own interests” – and – “The real mandate of the Fed is rigging the political system in favor of the political elites”.

https://mises.org/mises-wire/feds-real-mandate

Cheery Charles
Cheery Charles
Reply to  vaboon
9 months ago

Neither have appeared. I have no idea why they were blocked.

My post began with –

“Eight years – that is a point worth making. Does this mean that she is wrong? Maybe she is a cranky conspiracy theorist.”

The third paragraph was –

“However, I think she does understand this topic and what she has to say is true. I believe that she ran her own brokerage but closed it down because she could see that the things she talks about (you need to watch all eight parts) posed a threat to her clients’ money and she didn’t want to be part of the system.”

Then I gave examples of market rigging to stop the economic house of cards from collapsing.

Cheery Charles
Cheery Charles
Reply to  Rhoda Wilson
9 months ago

Thanks Rhoda. If it happens again, I’ll try to be more patient.

P T
P T
9 months ago

A lot to take in.

My take on the new “Contingent NBFI Repo Facility” is that it will be highly inflationary, and it is apparently mimicking the Blackrock “Going Direct” plan that was implemented with the Fed in March 2020 (after plandemic was called).

In a nutshell, BoE will be able to bailout Blackrock and their ilk, leading to more money created for the purpose.

For everyone else, their money is worth less, as more money is in accounts.

Prior to 2020, money printing was limited to bail out banks, and wasn’t necessarilarly inflationary, as banks did not lend it out unless they wanted to.

Money printing to bailout pension funds changes that.

Why might BoE bailout Blackrock? My guess is that as interest rates rise, the gilts fall in value and the pension has losses, particularly if it is marked to market. But maybe they can hide losses if they don’t need to mark to market.

Cheery Charles
Cheery Charles
Reply to  P T
9 months ago

One effect will be bail-ins, they take our money. We are left with nothing and we are happy.

Just idea that they could have implemented rules to allow bail-ins should have had people on the streets with pitchforks?

Cheery Charles
Cheery Charles
9 months ago

“What Is About To Happen Will Shock The World”

“THE GREATEST WEALTH TRANSFER SCHEME OF ALL TIME”

https://kingworldnews.com/what-is-about-to-happen-will-shock-the-world/

Clayton
Clayton
9 months ago

It’s a corporation, it can and does as it ( board of directors ) decides.

Clayton
Clayton
9 months ago

every country is broke and running on stolen laundered money

Donita Forrest
Donita Forrest
9 months ago

Schwab is always devising new ways & means to get the money funneled to him directly. If it isn’t injections, sextortion, begging for ukraine, banana taped to wall ‘art’ or Dorothy’s ruby slippers, it’s bailing out business fronts.

Clayton
Clayton
9 months ago
Clayton
Clayton
9 months ago
Clayton
Clayton
Reply to  Clayton
9 months ago
Cheery Charles
Cheery Charles
9 months ago

They will have to bail out the life assurers.

From the start 2022 life assurance companies started reporting big hits to their profits due to an increase in claims on life policies. OneAmerica and Lincoln National were two US companies, BKK Provita was a German one, Aegon was a Dutch one that is international and does most it is business in the US.

I seem to recall that the CEO of BKK Provita was sacked for suggesting the Covid vaccines might be to blame for the increase in deaths.

There were predictions of life policy claims wiping out the life assurance companies. Now I see how they are going deal with the problem.