Corona-Crash: Politics and science as helpers of the financial elite

By Ernst Wolff.

With the progression of the corona crisis, many people are becoming aware of the striking disproportion between the danger of the virus and the measures taken to contain it. The curtailment of democratic rights, the deliberate creation of mass unemployment and the injection of money by the central banks are clearly causing damage which will have serious economic and social consequences.

For this reason, doubts are growing everywhere about the official representation of the pandemic. But this raises questions: Weren’t governments always interested in a smoothly functioning economy that gave them positive poll numbers and increased their chances of re-election? Why are they now deliberately bringing the global economy to a standstill?

Officially, this is being done in order to protect people’s health. However, this is countered by the fact that in recent years the governments have systematically dismantled the health systems as a result of the austerity policy. This has led to a reduction of medical care for the population. Moreover, it has made medical care more expensive and thus drastically worse. The protests of the clinical staff were obtrusively ignored.

So there must be another reason for the behavior of politicians, and indeed there is. However, it has nothing to do with the Corona pandemic, but with the global financial system.

The financial system has irrevocably entered its final phase and is heading straight for the final crash. Politicians can no longer change this, because the system has long since ceased to be controllable. It is firmly in the hands of a tiny minority with assets worth billions, managed to a large extent by hedge funds.

Over the past 11 years, these hedge funds have made the system, which was clinically dead after the crisis of 2007-08 and was only revived with the help of the central banks, entirely dependent on them. With the trillions of dollars that the central banks have made available under increasingly favorable conditions, they have absorbed ever larger parts of the global economy and have taken ever riskier bets on the financial markets, bringing their owners and investors unimaginable profits.

But this period has irreversibly come to an end in the last weeks. Indeed, many of their bets have failed due to the abrupt fall in oil prices and the maturity of extremely high payments in the derivatives area, and have put several hedge funds in existential distress.

However, since every single one of them, in the event of bankruptcy, would drag major banks and other hedge funds with them to the ground and cause the system to collapse, the central banks immediately tried to rescue the bankruptcy candidates. Having failed by conventional means, however, the central banks went a decisive step further: They opened all the money-locks and made the greatest bottom-to-top wealth redistribution in the entire history of mankind.

But even that will not prevent the current system from collapsing in the next few days or weeks. On the other hand, the huge sums involved will give hedge funds the opportunity to put themselves in pole position for the time after the crash and the then necessary restart of the system. After all, the money provided by the state enables them to bet on the crash of the system by short selling and to buy into millions of small and medium-sized businesses worldwide that are threatened with extinction.

Nevertheless, they will encounter considerable resistance from those concerned in the not too distant future. Low-wage earners who lose their jobs, public sector employees who are made redundant because of empty state coffers, small and medium-sized entrepreneurs who are on the brink of ruin and either have to submit to anonymous platform companies or perish – they will all hardly accept this development without contradiction.

The global society is thus inevitably heading for a historical conflict – on the one hand the ultra-rich and on the other hand the vast majority of people who do not live from their fortune. In terms of numbers, the winner would be quickly determined, but in our society it is not majorities that count, but money and financial power.

With their help, the ultra-rich are currently counting on two important and proven allies: corruptible scientists and equally corruptible politicians.

Together, they are creating unprecedented mass hysteria in the event of a pandemic and ensuring that elementary rights are restricted, that people are deeply insecure, and that they are separated and played off against each other. On the grounds that they want to prevent the death and suffering of people, they are backing the ultra-rich in plundering the existing financial system and building a new one in which the focus is not on the life and health of people but on increasing the wealth of a minority driven by immeasurable greed.

We still have the opportunity to prevent the disaster, but time is running out. That is why anyone who wants to save themselves and those who are important from such a future should raise their voice and resist – now.


Thanks to the author for the right to publish the article.


Picture reference: Circumnavigation / Shutterstock


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