Hungary Becomes First European Country To Ban Rothschild Banks

Hungary have become the first European country to officially ban all Rothschild banks from operating in the country. 

In 2013, Hungary began the process of kicking out the International Monetary Fund (IMF), and agreed to repay the IMF bailout in full in order to rid the country of the New World Order banking cartel.

Neonnettle.com reports:

A kindly worded letter from Gyorgy Matolcsy, the head of Hungary’s CentralBank , asked Managing Director, Christine Lagarde of the International Misery Fund, as some have fondly nicknamed it, to close the office as it was not necessary to maintain it any longer.

The Prime Minister, Viktor Orban, seemed keen to ease off austerity measures and prove that the country could go it alone. It in fact issued its first bond in 2011, borrowing off the global markets.

Hungary borrowed €20 billion loan to avoid becoming insolvent during the economic crisis in 2008. But the debtee debtor relationship has not been smooth sailing.

Many criticised the Prime Minister as making an ill-advised decision in order to win an election, which was due in 2014. He also wanted to refrain from having too many foreign eyes on their economic policies, as many reforms were criticised as being undemocratic.

Paying the loan back early has meant Hungary have saved €11.7 million worth of interest expenses, but Gordan Bajnai, leader of the electoral alliance E14-PM, claimed that they had actually lost €44.86 million by March 2014 because of the early repayment as all they did was replace the loan from the International Mafia Federation (another nickname, we’re still talking about the IMF here) with a more expensive one, labelling the stunt as Propaganda .

And what made further nonsense; another loan at high interest rates was signed to finance a nuclear upgrade, which will mean not only higher repayments but also high electricity costs. But they do have economic sovereignty now.

Many have claimed that the IMF AKA ‘Imposing Misery and Famine’, are owned by the Rothschild group, the biggest banking group in the world, having their fingers in almost every central bank in the world. This means that not only do they make money off usurious interest rates at the misfortune of crumbling economies, they also literally own Governments and people of power – I mean they have considerable influence.

Escaping the banking clutches is therefore, iconic. Iceland joined Hungary in 2014 when it paid back its $400 million loan ahead of schedule after the collapse of the banking sector in 2008 and Russia, of course bowing down to no Western puppeteer, freed itself in 2005, one wonders what other strings are attached though — and how long it will be before the international bankers wheedle their way back in.

The return of these three countries to financial independence has been said to be the first time a European country has stood up to the international fund, since Germany did so in the 1930s. Greece is anxiously trying to make payments but missing them as we all stand on the sidelines routing for them to stick two fingers up to the ‘International M***** F******’.

The Growing Threat of War and the Critical State of the Global Financial System

Three developments are shaping the current world situation: an increase in social tensions, the intensification of international political conflicts and the increasingly undisguised preparation of the Western alliance for war against Iran.

The mainstream media try to miss no opportunity to tell the international public who will be friend and who will be foe in this coming war. Time and again, Iran’s allies Russia and China are depicted in the most negative light possible, while there is almost no mention of Israel’s and Saudi Arabia’s crimes in Yemen and against the Palestinians.

At the same time, the media are doing everything they can to conceal the most important reason behind the drive for the war – the critical state of the global financial system. Journalists are bending over backwards to convince the public that the global economy has completely recovered from the 2007/2008 crisis, that we are witnessing a global economic boom and that the dangers in the system are under control.

In fact, none of these claims are true. The simple reason is that they all ignore the historic importance of the cross-border manipulation by the central banks, which was necessary to save the system from collapse after it nearly broke down in 2007/2008, and which still keeps it alive today.

The global financial system would no longer exist without manipulation

This manipulation has set in motion a development that can be compared to the fate of a patient who survives a severe crisis only through an injection of addictive drugs and who would be killed by a subsequent withdrawal treatment because of his poor state of health. In other words, without money injections and low interest rates and without the purchase of government and corporate bonds by central banks, the global financial system, as we know it, would no longer exist.

The world’s leading central bankers are well aware of this. This is shown by their futile attempts to turn the wheel. Even the most timid announcements to contain the flood of money and significantly increase interest rates send such shock waves through the financial community that it is already clear: there can be no return to a normality in which no excess money is printed, interest rates are raised to a level that was once considered normal and no more bonds or shares are bought by the central banks.

So what will happen next? Will central banks simply continue the policy of the past ten years? After all, nobody can stop them from printing unlimited amounts of money and lowering interest rates – along the lines of the Swiss Central Bank – into negative territory…

In fact, nobody can stop them, but the consequences these measures would bring with them are foreseeable: A further increase in speculation, even greater volatility in the markets, an even stronger inflation of the bubbles, which are almost bursting already, the complete destruction of the classic banking business (lending against interest rates), the disintegration of traditional commercial banks and savings banks, the complete takeover of markets by investment banks and hedge funds, the collapse of pension systems – to name but a few of the expected consequences.

The biggest danger is the loss of confidence in the monetary system

Worse than any of these consequences is the creeping loss of confidence in the entire monetary system, which has not been tied to any real value since the decoupling of the US dollar from gold in 1971. It can be assumed that at some point it will affect the entire system, lead to a panic in the markets and cause the global financial card house to collapse.

How close we have already come to this point was shown by the dramatic price fluctuations of the US stock index Dow Jones in February of this year. It appears that this was a test run in which the US Federal Reserve, which is permanently on standby to prevent major price crashes, only intervened at the last second. These fluctuations were the strongest that the Dow Jones has experienced in its more than 100-year history.

This may have been a serious warning to the world’s financial elite. In any case, both the Skripal affair in Great Britain, the trade war instigated by the US against China and the recent hostile reaction towards Russia by most EU states are strong indications that the elites have decided to seriously consider an option that the German economist Ernst Winkler in 1952 described as “the best means put off the final catastrophe of the entire capitalist system over and over again” – the option of waging a war.


China Plans to Break Petrodollar Stranglehold

As of March 2018, Beijing is to set up oil-futures trading in the yuan which will be fully convertible into gold on the Shanghai and Hong Kong exchanges, Russia set to join China in this economic pivot.


Petrodollars have dominated the global energy markets for more than 40 years. But now, China is looking to change that by replacing the word dollars for yuan.

Nations, of course, have tried this before since the system was set up by former US Secretary of State Henry Kissinger in tandem with the House of Saud back in 1974

Vast populations across the Middle East and Northern Africa quickly felt the consequences when Iraq’s Saddam Hussein decided to sell oil in euros. Then there was Libya’s Muammar Gaddafi’s pan-African gold dinar blueprint, which failed to create a splash in an oil barrel.

Fast forward 25 years and China is making a decisive move to break the United States petrodollar stranglehold in cooperation with Russia. The plan is to set up oil-futures trading in the yuan, which will be fully convertible into gold on the Shanghai and Hong Kong foreign exchange markets.

The Shanghai Futures Exchange and its subsidiary, the Shanghai International Energy Exchange (INE), have already run four simulations for crude futures.

It was expected to be rolled out by the end of this year, but that looks unlikely to happen. But when it does get off the ground in 2018, the fundamentals will be clear – this triple oil-yuan-gold route will bypass the mighty green back.

The era of the petroyuan will be at hand.

Still, there are questions on how Beijing will technically set up a rival futures market in crude oil to Brent and WTI, and how China’s capital controls will influence it.

Bejing has been quite discreet on this. The petroyuan was not even mentioned in the National Development and Reform Commission documents following the 19th National Congress of the Communist Party last October. 

What is certain is that the BRICS, the acronym for Brazil, Russia, India, China and South Africa, did support the petroyuan move at their summit in Xiamen earlier this year. Diplomats confirmed that to Asia Times.

Venezuela is also on board. It is crucial to remember that Russia is number two and Venezuela is number seven among the world’s Top 10 oil producers. Beijing already has close economic ties with Moscow, while it is distinctly possible that other producers will join the club. 

“This contract has the potential to greatly help China’s push for yuan internationalization,”Yao Wei, chief China economist at Societe Generale in Paris, said when he hit the nail firmly on the head.

An extensive report by DBS in Singapore also hits most of the right notes, linking the internationalization of the yuan with the expansion of the grandiose Belt and Road Initiative.

Next year, six major BRI projects will be on the table. 

Mega infrastructure developments will include the Jakarta-Bandung high-speed railway, the China-Laos railway and the Addis Ababa-Djibouti railway. The other key projects will be the Hungary-Serbia railway, the Melaka Gateway project in Malaysia and the upgrading of Gwadar port in Pakistan.

HSBC has estimated that the expansive Belt and Road program will generate no less than an additional, game-changing US$2.5 trillion worth of new trade a year.

It is important to remember that the “belt” in BRI is a series of corridors connecting Eastern China with oil-gas rich regions in Central Asia and the Middle East. The high-speed rail networks, or new “Silk Roads”, will simply traverse regions filled with, what else, un-mined gold.   

But a key to the future of the petroyuan will revolve around the House of Saud, and what it will do. Should the Crown Prince, Mohammad bin Salman bin Abdulaziz Al Saud, also known as MBS, follow Russia’s lead? If it did, this would be one of the paradigm shifts of the century. 

Yet there are signs of what could happen. Yuan-denominated gold contracts will be traded not only in Shanghai and Hong Kong but also in Dubai. Saudi Arabia is also considering issuing so-called Panda bonds, with close ally, the United Arab Emirates, taking the lead in the Middle East for Chinese interbank bonds. 

Of course, the prelude to D-Day will be when the House of Saud officially announces it accepts the yuan for at least part of its exports to China. But what is clear is that Saudi Arabia simply cannot afford to alienate Beijing as one of its top customers.

In the end, it will be China which will dictate future terms. That may include extra pressure for Beijing’s participation in Aramco’s IPO. In parallel, Washington would see Riyadh embracing the petroyuan as the ultimate red line.

An independent European report pointed to what might be Beijing’s trump card – “an authorization to issue treasury bills in yuan by Saudi Arabia” as well as the creation of a Saudi investment fund and a 5% share of Aramco.

Nations hit hard by US sanctions, such as Russia, Iran and Venezuela, will be among the first to embrace the petroyuan. Smaller producers, such as Angola and Nigeria, are already selling oil and gas to the world’s second largest economy in Chinese currency.

As for nations involved in the new “Silk Roads” program that are not oil exporters such as Pakistan, the least they can do is replace the dollar in bilateral trade. This is what Pakistan’s Interior Minister Ahsan Iqbal is currently mulling over.

Of course, there will be a “push back” from the US. The dollar is still the global currency, even though it might have lost some of luster in the past decade.

But the BRICS, as well as the Shanghai Cooperation Organisation, or SCO, which includes prospective members Iran and Turkey, are increasingly settling bilateral and multilateral trade by bypassing the green back.

In the end, it will not be over until the fat (golden) lady sings.  When the beginning of the end of the petrodollar system becomes a fact, watch out for a US counterpunch.