Jeff Berwick has has a great conversation with Mads Palsvig, who was a highly-paid bond trader in Denmark for years before he realized how money is created. Then, he saw how the IMF and the World Bank are scams that exist for the sole purpose of destabilizing countries so that their assets can be acquired by large transnational corporation on the cheap.
The bankster racket works like this: A Third World country will borrow from the IMF or the World Bank at 10% interest and then be unable to repay the debt. The IMF will then tell that government that they will have to privatize all their public assets. By that time, their equity markets will have lost 60% or 70% and the multinational corporations will then come in and buy everything up on the cheap.
Palsvig was still innocent to the ways of the world when he had dinner one night with former Federal Reserve Chairwoman, Janet Yellin with several colleagues from his office at Morgan Stanley. He didn’t know that the Federal Reserve Bank was a private corporation when he started giving Yellin a hard time for the bad decisions she’d made. He says now, “I didn’t know we were colleagues. I thought she was a public employee not doing a proper job!” Even though it was April and he’d already earned his quota for the whole year and he normally earned $93 million annually for his bank, he was fired three weeks later. He believes this was due to his dressing-down of Yellin.
After being fired, Palsvig had time to research these issues and he discovered that it was even worse than he thought. He says, “The families who own these banks, they’re the same families who own the media, they own the military industrial complex, they own the big pharmaceutical companies. The Rockefeller and Carnegie foundations started an educational system that is indoctrinating people…then I realized how all the wars have been started by the same families.
