3 Finance Conspiracies That Might Come True
Who doesn’t love a good conspiracy theory? We certainly do and there have been quite a few that came true in recent years! Today we’re exploring 3 finance conspiracies that could happen (if they haven’t already!) Let’s go!
#1 The Great Reset
In June 2020, King Charles III (then the Prince of Wales) launched an initiative calling for the Covid pandemic to be seen as a chance for what he called a Great Reset for the global economy.
The scope of the actual initiative is enormous — technology, climate change, the future of work, international security and other themes are all included. This humungous, highly-ambiguous scope led to many questioning the actual motives behind it.
One of the theories is that the global elite orchestrated Covid-19. That lockdowns and restrictions were brought in to deliberately bring about economic collapse and a socialist world government.
Regardless of your thoughts on this one, covid-19 certainly had an impact on the financial landscape. Underfunded and ageing health systems crumbled, whilst the global economy entered a recessionary spiral. Global stock markets and economic activities are faltering along with a decline in industrial production and an increase in unemployment. And of course, the cashless society…
#2 Cashless Society For Digital Control
Like most “conspiracy theories”, this one has some basis in fact. During the height of lockdowns, governments around the world set about dissuading citizens from using cash. Paper money, exchanged by hand, was portrayed as an easy way to transfer all kinds of bacteria.
Many said that the move was a digital coup against paper and coined money. They claim that big banks and financial institutions would benefit enormously by saving on the costs of transacting in coins and paper as well as transporting them. They also claim that the financial industry would be able to collect much more data on their customers if everyone ditched cash payments. Then there is also the control element. Digital money can be completely controlled. This is something that we are currently seeing with the Paypal protests. Paypal has controversially closed accounts and banned transactions from those who vocally oppose mainstream narratives.
Veteran comedian Jack Dee has been applauded and condemned for announcing that he is cancelling his PayPal account. As he tweeted yesterday: ‘Big Tech companies that feel they can bully people for questioning mainstream group think don’t deserve anyone’s business.’
We saw the same account freezing in Canada under the Trudeau regime.
Censorship in Western culture is a problem, but so is self-censorship. A study by Washington University in St. Louis found that 40% of Americans were now choosing to stay silent rather than express their opinions. This would be further fuelled by fears of financial controls.
The lack of coins or cash in society is also the result of people preferring to transact via card or online. It’s likely a question of demand and circulation, as opposed to any cut in supply at this stage. However, fears over a cashless society remain.
#3 The US Bullion Depository is empty
Fort Knox, a US army military base in rural Kentucky, is supposed to contain around half of the US’ gold reserves. The vault is supposed to house approximately 497,000 gold bars, with a combined weight of about 6,190 tons. Today, that amount is worth an incredible $278 billion.
However, some conspiracy theorists believe Fort Knox is nothing more than a series of empty rooms. They claim that the gold was removed and used in secret to gradually manipulate commodities markets in an effort to sink gold prices and bolster the US dollar.
Security is so tight that even the President of the United States, the highest office in the country, is denied access to Fort Knox. Only Franklin Roosevelt was allowed inside the vault. In 1943, Roosevelt was concerned that the vault was not secure enough to protect the gold reserves from an enemy invasion. It is protected by the United States Mint Police and is well known for its physical security.
So, if this one is true, how did the gold get moved and by who? We would love to know what you think!
Did we miss one?
What’s your fave conspiracy theory? Are they conspiracy theories or truth? Tweet us at @_contentworks and if you’re into financial news, give us a follow while you’re there.
Top trading events week commencing 26.09.22
There’s a fair bit going on this week, here’s when and where you need to tune in.
● JPY — BoJ Kuroda Speech
● USD — Durable Goods Orders MoM (AUG); CB Consumer Confidence (SEP)
No major events are scheduled.
● USD — GDP Growth Rate QoQ Final (Q2)
● CNY — NBS Manufacturing PMI (SEP)
● GBP — GDP Growth Rate YoY Final (Q2)
● EUR — Core Inflation Rate YoY Flash (SEP)
● USD — Core PCE Price Index YoY (AUG); PCE Price Index YoY (AUG);
● Michigan Consumer Sentiment Final (SEP)
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