by F. William Engdahl via William Engdahl

Image: Pope Francis in Colombo Author: Prasanna Welangoda License: This file is licensed under the Creative Commons Attribution-Share Alike 2.0 Generic license License Source: https://commons.wikimedia.org/wiki/File:Pope_Francis_in_Colombo.jpg

Holy Moly! The most globalist and interventionist Pope since the Crusades of the 12th Century has formalized an alliance with the largest figures in global finance led by none other than that noble banking family, Rothschild. The new alliance is a joint venture they call “Council for Inclusive Capitalism with the Vatican.” The venture is one of the more cynical and given the actors, most dangerous frauds being promoted since Davos WEF guru and Henry Kissinger protégé, Klaus Schwab, began to promote the Great Reset of the world capitalist order. What and is behind this so-called Council for Inclusive Capitalism with the Vatican?

On their website they proclaim in a typical UN doublespeak, “The Council for Inclusive Capitalism is a movement of the world’s business and public sector leaders who are working to build a more inclusive, sustainable, and trusted economic system that addresses the needs of our people and the planet.” A more sustainable, trusted economic system? Doesn’t that sound like the infamous UN Agenda 21 and its Agenda 2030 daughter, the globalist master plan? They then claim, “Inclusive Capitalism is fundamentally about creating long-term value for all stakeholders – businesses, investors, employees, customers, governments and communities.”

They continue, “Council members make actionable commitments aligned with the World Economic Forum International Business Council’s Pillars for sustainable value creation—People, Planet, Principles of Governance, and Prosperity—and that advance the United Nations Sustainable Development Goals.”

In announcing the deal with the Vatican, Lynn Forester de Rothschild declared, “This Council will follow the warning from Pope Francis to listen to ‘the cry of the earth and the cry of the poor’ and answer society’s demands for a more equitable and sustainable model of growth.”

Their reference to Klaus Schwab’s World Economic Forum is no accident. The group is yet another front group in what is becoming a globalist bum’s rush to try to convince a skeptical world that the same people who created the post-1945 model of IMF-led globalization and giga-corporate entities more powerful than governments, destroying traditional agriculture in favor of toxic agribusiness, dismantling living standards in industrialized countries to flee to cheap labor countries like Mexico or China, will now lead the effort to correct all their abuses? We are being naïve if we swallow this.

Rothschild and pals

First off it is useful to see who are the “inclusive” capitalists joining forces with the Pope and Vatican. The founder is a lady who carries the name Lady Lynn Forester de Rothschild. She is the wife of the 90-year old retired mega-billionaire head of London’s NM Rothschilds Bank, Sir Evelyn de Rothschild. Lady Lynn however is from “commoner” roots, born into a US working class family in New Jersey whose father, as she tells, worked two jobs to put her and her brothers through law and medical schools. She seemed to have had some influential mentors, as she went to Wall Street then to telecoms including Motorola and made reported tens of millions before hooking up with Sir Evelyn and his reported $20 billion in assets. Reports have it that Henry Kissinger played a personal role in encouraging the Transatlantic union of the two.

Lady Lynn is interesting as well beyond her famous husband. According to the list of names of those who flew on the private jet of convicted child sex trafficker and reported Mossad operative Jeffrey Epstein, one name that appears is “de Rothschild, Lynn Forester.”

It is interesting to note, that the same Lynn Forester in 1991, before she took Sir Evelyn as her husband, generously let a British friend have full use of one of Lynn’s Manhattan apartment properties, following the apparent murder of the woman’s father, British media tycoon and Mossad agent, Robert Maxwell. The British friend of Lynn, Ghislaine Maxwell, today is awaiting trial for complicity in child sex trafficking as the partner of Jeffrey Epstein. Maxwell reportedly maintained the Manhattan address of Lady Lynn until very recently to register a bizarre non-profit called Terramar that she and Epstein set up in 2012, allegedly aimed at saving our oceans. When Epstein was arrested she quickly dissolved the non-profit. One of the donors to Ghislaine’s TerraMar was something called the Clinton Foundation, which leads to the next friend.

Lady Lynn has another long-time friend named Hillary Clinton, whose husband, Bill, was also logged on Epstein’s Lolita Express private jet, around two dozen times. Lynn and her new husband, Sir Evelyn, in fact were so close to the Clintons that in 2000 the Rothschild newlyweds spent part of their honeymoon as guests at the White House of Mr and Mrs Clinton. Lady Lynn after that became a major fund-raiser in 2008 and again 2016 for a possible Hillary bid for President, called a “bundler.” She also advised Hillary on her economic program, a free market one based on Adam Smith as she described it in an interview once.

Lady Lynn’s “Guardians”

The Rothschild venture with the Vatican at this point, in addition to co-founder Lady Lynn Forester de Rothschild, includes hand-picked money moguls and their select foundations who pompously call themselves the “Guardians.” That’s a term sounding more like a South Side Chicago gang or some kind of mafia overlords. They call themselves the moral guardians, together now with their new friends at the Vatican, for reform of capitalism.

The Guardian member list includes Rajiv Shah, the CEO of the Rockefeller Foundation, and former partner of the Gates Foundation’s AGRA scam to introduce GMO seeds in Africa. The Rockefeller Foundation has been involved in promoting a pandemic “lockdown” since 2010, and is a core part of the WEF Great Reset agenda. He just released a Rockefeller report, Reset the Table: Meeting the Moment to Transform the US Food System.

Rothschild’s Guardians also include Darren Walker the CEO of the Ford Foundation. Those two foundations, Ford and Rockefeller, have done more to shape an imperial American foreign policy than even the US State Department or CIA, including the funding of the failed Green Revolution in India and Mexico, and the creation by Rockefeller funds of GMO crops.

The head of DuPont, a GMO giant and chemicals group is another Guardian as well as scandal-ridden vaccine and drug companies, Merck and Johnson & Johnson. Merck lied about the risks of its arthritis drug Vioxx until more than 55,000 users died of heart attacks. Johnson & Johnson has been involved in numerous frauds in recent years including around negative effects of its anti-psychotic drug Risperdal, illegal presence of cancer-causing asbestos in its baby powder, and potentially thousands of legal actions for its role as a leading supplier of the opioid in Purdue Pharma’s deadly prescription painkiller OxyContin.

Other Guardians include CEOs of Visa, Mastercard, Bank of America, Allianz insurance, BP. In 2016 Visa along with USAID were behind the catastrophic Modi experiment to introduce a cashless economy in India.

Notable also is Guardian Mark Carney, former Bank of England head and also advocate of cashless digital central bank currencies to replace the dollar. Carney is now United Nations Special Envoy for Climate Action and Finance.

Carney is also a Board member of the Davos World Economic Forum, the public promoter of the Global Reset of capitalism to impose the dystopian Agenda 2030 “sustainable” economy. In fact several of Rothschild’s Guardians are on the WEF Board, including billionaire Marc Benioff, founder of cloud computing Salesforce, and OECD head Angel Gurria. And ex-Credit Suisse CEO, Tidjane Thiam is on the International Business Council of the World Economic Forum.

Other Guardians of the inclusive capitalism transformation include the head of Bank of America, which bank was sued by the US Government for fraud connected with the 2008 US subprime mortgage crisis, as well as for laundering money for the deadly Mexican drug cartels and Russian organized crime. The select Guardian list also includes Marcie Frost, the controversial head of CalPERS, the huge fraud-ridden California state pension fund managing over $360 billion.

The head of State Street Corporation, one of the world’s largest asset management companies with US$3.1 trillion under management, is another Guardian. In January 2020 State Street announced it would vote against directors of companies in major stock indices that do not meet targets for environmental, social and governance changes. This is what is called Green Investing, as part of so-called Socially Responsible Investing. The WEF strategy, pushed also by WEF board members like Larry Fink of BlackRock, reward companies that they deem “socially responsible.” This is the key to the inclusive capitalism agenda of not just Rothschild’s inclusive capitalism Guardians, but also the WEF.

Their website claims that the Guardians manage more than $10.5 trillion dollars and control companies that employ 200 million workers. Now a brief look at their new Vatican partner.

Vatican Morals?

Ironically, or maybe not, Pope Francis, the partner chosen to give Rothschild’s group of mega-capitalists “moral” credibility, is himself embroiled in what could be the largest financial scandals, fraud and misuse of church funds in the modern history of the Vatican. That, despite the fact Pope Francis declared as new Pope in 2013, one of his main tasks would be to clean up the scandal-ridden Vatican finances. That has hardly taken place even after more than six years. Some Vatican observers even claim the financial corruption has worsened.

The unravelling scandal revolves around now-disgraced Cardinal Angelo Becciu who until 2018 was de facto chief-of-staff to the Pope and regular confidante. Becciu was Substitute for General Affairs in the Secretariat of State, a key position in the Roman Curia until June, 2018 when the pope elevated him to Cardinal, ironically enough, responsible for the Congregation for the Causes of Saints. Becciu, clearly no saint, was able to invest hundreds of millions even billions over years of Church funds, including donations for the poor in Peter’s Pence, into projects he chose with a former banker from Credit Suisse. Projects included €150 million share in a luxury London real estate complex and $1.1 million into a film, Rocketman, about the life of Elton John. That comes to light as the ongoing Vatican child sex scandals caused Pope Francis to defrock Cardinal Theodore McCarrick of Washington, the first Cardinal to fall in the Church’s deep sexual abuse charges.

Italian press reports that the Pope knew about the dubious investments of Becciu and even praised them before the depth of the scandals broke. In November, 2020 Italian police raided the residence of Becciu’s former Vatican accountant and found €600,000 in cash and evidence the Vatican employee received $15 million in fake invoicing over years.

With a background like this, the new Council for Inclusive Capitalism with the Vatican of Lynn de Rothschild warrants close scrutiny as they clearly plan big things along with Klaus Schwab’s World Economic Forum to “reform” the world economy, and it won’t be nice or moral we can be sure.

F. William Engdahl is strategic risk consultant and lecturer, he holds a degree in politics from Princeton University and is a best-selling author on oil and geopolitics, exclusively for the online magazine “New Eastern Outlook”

Authored by Bruce Wilds via Advancing Time blog,

The emergence and acceptance of Modern Monetary Theory has turned our economic system upside down.Skeptics of its substance and sustainability have been brushed aside temporarily but expect the MMT experiment to collapse and end in ruin. To us that believe in old school economics, debt matters and is tied directly to interest rates and inflation. Central banks across the world claim the lack of inflation is the key force driving their QE policy and permitting it to continue, however, the moment inflation begins to take root much of their flexibility will be lost. This translates into governments being forced to pay higher interest rates on their debt.

With America’s national debt now blowing past 29 trillion dollars, it is important to keep the numbers in perspective. Nothing is as sobering as looking at future budgets. Those of us rooted in the tried and true economics relied upon in the past are worried. For years the argument that “This Time Is Different” has flourished but history shows that periods of rapid credit expansion always end the same way and that is in default. This also underlines the reality that any claims Washington makes about the budget deficit being under control is a total lie.

Click (Here) To View National Debt Clock

America is not alone in spending far more than it takes in and running a deficit. This does not make it right or mean that it is sustainable. Much of our so-called economic growth is the result of government spending feeding into the GDP. This has created a false economic script and like a Ponzi scheme, it has a deep relationship to fraud.

Global debt has surged since 2008, to levels that should frighten any sane investor because debt has always had consequences. Much of the massive debt load hanging above our heads in 2008 has not gone away it has merely been transferred to the public sector where those in charge of such things feel it is more benign. A series of off-book and backdoor transactions by those in charge has transferred the burden of loss from the banks onto the shoulders of the people, however, shifting the liability from one sector to another does not alleviate the problem.

When the 2018 financial year budget was first unveiled it was projected to be $440 billion. An under-reported and unnoticed later report painted a far bleaker picture. The report titled the “Mid-Session Review” forecast the deficit much higher than originally predicted. The newer report predicted the deficit would come in at $890 billion which is more than double what they predicted in March of 2017.

Such a miss should bring up the question of whether the discrepancy in the 2018 budget is an outlier or a sign of incompetence. This is especially troubling because what was projected as a total budget deficit of $526 billion for the 2019 Fiscal Year was later revised to a staggering $1.085 trillion. Not only should the sheer size of these numbers trouble us but we should remember that until recently some Washington optimists were forecasting that deficits would begin to decline in 2020 and that we would even have a small surplus of 16 billion in 2026. Since then, the wild spending those in charge have justified due to Covid-19 has blown the lid off that glimmer of hope and replaced it with more trillion-dollar deficits going forward.

Back then, the summary that began on page one of the Mid-Session Review came across as a promotional piece using terms like MAGAnomicics. It praised and touted the Trump administration for its vision and great work. This is a time when it would be wise to remember numbers don’t lie but the people using them do. That report is an example of how to re-frame a colossal train wreck into something more palatable. The report even went so far as to assure us that the deficit would fall to 1.4 percent of the GDP in 2028, from what was then 4.4 percent.

As a result of the American economy having survived with little effect what was years ago was described as a “financial cliff” the American people have become emboldened and now enjoy a false sense of security. Today instead of dire warnings we hear news from Washington and the media about how the stock market continues to push into new territory and all is well.

In 2019, National Debt Hit 23 Not 12 Trillion dollars

The chart to the right predicted that by 2019 the national debt would top 12 trillion dollars, instead it hit 23 trillion. Projections made by the government or any group predicting budgets based on events that may or may not happen at some future date are simply predictions and not fact. This means that such numbers are totally unreliable. The ugly truth many people ignore is that starting in 2018 entitlements became the driving force that will carry the deficit higher and higher into nosebleed territory. Even though we have seen deficits reach unprecedented levels the deficits in our future will be dramatically worse.

It isvery disturbing that so many people have forgotten or never taken the time to learn recent financial history. By recent, I’m referring to the last fifty to one hundred years. The path that Fed Chairman Paul Volcker set right decades ago has again become unsustainable and many people will be shocked when this reality hits. Do not underestimate the value of insight gained from decades of economic perspective. It tells us the economy of today is far different from the way things have always been.

Back in September of 2012, I wrote an article reflecting on how the economy of today had been greatly shaped by the actions that took place starting around 1979. Interest rates, inflation, and debt do matter and are more significant than most people realize. Rewarding savers and placing a value on the allocation of financial assets is important. It should be noted that many Americans living today were not even born or too young to appreciate the historical importance and ramifications of the events that took place back then. The impact of higher interest rates had a massive positive impact on corralling the growth of both credit and debt. It acted as a crucial reset to the economy which lasted for decades. Below is a copy of that article.

A Time For Action, 1980?

In his book “A Time For Action” written in 1980 William Simon, a former Secretary of the Treasury tells how he was “frightened and angry”. In short, he sounded the trumpet about how he saw the country was heading down the wrong path. William Simon (1927 – 2000) was a businessman and a philanthropist. He became the Secretary of the Treasury on May 8, 1974, during the Nixon administration, and was reappointed by President Ford and served until 1977.

I recently picked up a copy of the book that I had read decades ago and while re-reading it I reflected on and tried to evaluate the events that brought us to today. As often the future is unpredictable, looking back, it is hard to imagine how we have made it this long without finding long-term solutions and addressing the concerns that Simon wrote about so many years ago. Back then it was about billions of dollars of debt, today it is about trillions of dollars. It appears that something has gone very wrong.

Do Not Underestimate The Importance Of The Reset By Paul Volcker In 1980

By the end of the 70s inflation started to soar. Only by taking interest rates to nosebleed levels was then-Fed Chairman Paul Volcker able to bring inflation back under control. Paul Volcker, a Democrat was appointed as Federal Reserve chairmanby President Carter and reappointed by President Reagan. Volcker is widely credited with ending the stagflation crisis where inflation peaked at 13.5% in 1981. He did this by raising the fed fund rate which averaged 11.2% in 1979 to 20% in June of 1981. This caused the prime rate to hit 21.5% and slammed the economy into a brick wall. This also affected and shaped the level of interest rates for decades.

Rates Today Are Ready To Fall Off The Chart!

This action and the increased interest rates in the following years are credited by many to have caused Congress and the President to eventually balance the budget and bring back some sense of fiscal integrity and price stability to America. As the debt from the Vietnam war and soaring oil prices became institutionalized we moved on. Interest rates slowly dropped and the budget came under control. In recent years spending has again started to grow and at the same time taxes have been cut. This has slowly occurred over years and has been ingrained in the system.

In 2012, with our debt at 23 trillion and growing the path has again become unsustainable and many people will be shocked when reality hits. As our debt climbs some Americans feel just as frightened and angry as Simon did so many years ago. America has kicked the can down the road, failing time and time again to face the tough decisions. Part of the problem is the amount of debt has grown so large that we can no longer imagine or put a face on it. Until now, a series of different events have delayed the day of reckoning that will eventually arrive.Many of us see it coming, but the one thing we can bank on is that when it arrives most people will be caught totally off guard.

Summary of the current situation

Today we stand at the abyss, yet no one sees or feels threatened by a “financial cliff.” Insane spending has become the new normal. Who would have thought it would come to this? The updated revisions of the past have been washed away and replaced with more numbers, larger numbers. What we are witnessing today is insane. It is time to revisit the issue of how interest rates, inflation, and debt all come together. While this is not what those in charge want, it will happen. Simply put, there will be a reckoning, this time is not different.