Why Governor DeWine’s Covid Charade Continues…a must read

[LFC Comments: We welcome Roxane Premont as a new contributor to our website. Roxane’s first article “pulls the curtain back” and exposes Governor DeWine’s Covid deception. Remember the politicians’ maxim: “Never let a good crisis go to waste.” The Covid virus has provided a great deal of cover for the deceptions being played on Ohio citizens and the rest of the world.]


Why Governor DeWine’s Covid Charade Continues

Written by Roxane Premont
October 21, 2020

Why has Mike DeWine, or any Governor, continued with Covid19 restrictions?  After all, the CDC is reporting that deaths by all causes in the U.S. in any recent week are barely higher than that of any other year over the past decade. Covid19 disease is about as deadly as a bad flu, and less deadly than smallpox, polio, or measles, all of which are also much more contagious. Yet no state ever shut down for those diseases. We simply accepted the risk as a fact of life in much the same way that we accept the risk of an auto accident. Ohio is now bankrupt—collecting less tax revenue and spending more on social services like unemployment benefits.  Emotionally we are bankrupt too. Loneliness brought on by distancing restrictions, the depersonalization of mask wearing, and depression, divorce and suicides have all taking a psychological toll. So why is Governor DeWine refusing to rule out a second lockdown?  

Why sustain the charade that any of this was or is reasonable?

The answer is that Ohio, like most states, is so entrapped with debt it is beholden to the demands of Wall Street creditors, who are deceitfully employing Covid19 to usher in a new global financial system that recalls the Biblical “Mark of the Beast”. 

Massive debt gives creditors leverage for making demands. Consider our local Willoughby Eastlake School district in Lake County, which offers an example of how such leverage might be used against our state. Superintendent Stephen Thompson publicly explained that he needed to make severe cuts, sell land and buildings, and raise taxes in order to preserve the school district’s Wall Street bond rating. Otherwise, he lamented, “if our bond rating goes up, our interest rates will skyrocket….we won’t be able to afford to service our debt; we won’t be able to borrow to make building repairs; we will end up going into state managed receivership and be cut down to the bone.”

Like Superintendent Thompson, Governors across the nation are meeting with bond rating agencies and creditors, and being led to similar conclusions—cut social services and raise taxes to keep paying bondholders and hedge fund managers’ fees.   When that isn’t enough, then consider wiping out pensions and selling infrastructure like buildings, parks, roads, and hospitals. But don’t dare use your rainy-day fund; that is an actual asset and our collateral.   

Implausible? That is exactly what has been happening to Greece.  Entire Greek islands got sold for pennies on the dollar to the elite friends of the central bankers holding that bond debt. When Cypress was faced with a similar predicament the European Central Bank went further to raid 60% of the value of private bank accounts. 

Creditor demands likely also include compliance with Covid19 restrictions in exchange for propping up the state’s current credit rating and interest rates on debt. It is very curious that Ohio’s bond rating has not been downgraded despite shutdowns and lost tax revenue. The Governor is likely being told that the state will spiral (or be pushed) into financial chaos if he does not comply with Wall Street’s financial terms. Governor DeWine is between a rock and a hard place.

Why would Wall Street place pressure on Governors to implement and sustain Covid19 restrictions? The answer requires that we revisit history.

The shutdowns began in March, just in time to provide suspiciously convenient cover for the biggest Wall Street bailout in U.S. history, some $3 Trillion. Financial writer Ellen Brown writes, “Wall Street banks were quietly bailed out from a liquidity crisis…  that could otherwise have bankrupted them. There was…no heated congressional debate, and no public vote. It was all done unilaterally by unelected bureaucrats at the Federal Reserve.” 

Following the playbook of the 2008-9 bailout, large banks, hedge funds, and Exchange Traded Funds can make bailout funds available to their Wall Street cronies, who buy up businesses and properties bankrupted by Covid19 shutdowns at fire sale prices, while continuing to lend to credit card holders at 21%. In 2020 Covid19 shutdown, favoritism was blatant: while local shops were being driven out of business by shutdowns, Walmart not only remained open for business, it also got bailout funds to wipe out its bond debt. 

The story of bailout winners versus losers highlights human corruption. But the very need for bailouts also unmasks the underlying systemic problems with our financial system. Those problems are outside the scope of this article, but it is clear that our debt–based financial system is hitting a hard limit, when everyone – government, corporations and individuals – are so deeply in debt that more debt simply cannot be sustained. 

Central bankers recognize the need for a system reset.  However, their reset model is dedicated to expanding their power over every sphere of our lives, while convincing you that they will save humanity and the planet.   Covid19 restrictions are a ruse designed to get you to accept key parts of their plan.

Even before Covid19 hit China, BlackRock, the world’s largest financial institution, published an August 2019 white paper laying out an economic reset plan that is now being incrementally implemented. Prince Charles of England serves as the ambassador for this “Great Reset”. He argues, on video speaking on behalf of the World Economic Forum, that Covid19 should be viewed as an ideal opportunity to re-engineer all of society. Each sphere of human existence is being re-designed by our overlords. For instance, the WEF Great Reset education plan, largely a Bill Gates creation, advances the idea that nearly all education should be delivered online.  Bill Gates wonders why are we still housing students in buildings?  Lo and behold, they seem to have achieved that objective! Compliant educators fell for the Covid19 restrictions and implemented online technology, without understanding that they are useful idiots making themselves obsolete in a transition to a Great Reset model that advocates the phasing out of teaching staff, schools, and universities. 

The Great Reset also advocates, among other things, a biometric digital ID for all of humanity, one that is part of the person such as by being injected under the skin. That digital ID will be phased in under the guise of people proving their immunity to Covid19 by providing their “certificates of immunity”. These certificates of immunity will be required for travel, and health attestation “travel passports” are indeed being tested by some airlines already.  

Please recall that Governors have been restricting travel from other U.S. states, under the auspices of trying to keep infected persons out of their state (irrespective of the US Constitution). It should now be clear that those restrictions were not the brainchild of our governors, but of global central bank managers who need you to accept the injection of a digital ID under the guise of the Covid19 vaccine.   This is NOT conjecture!

Former Wall Street hedge fund manager Catherine Austin Fitts has studied the proposed new cashless financial system in great detail. She states, “It is the Mark of the Beast. You will be injected with a microchip masquerading as a vaccine, and then be forced to make all your purchases like you are an employee buying from the old company store model….where the company is both your employer and the provider of all goods and services. The digital chip will connect everyone directly into the Cloud, and the 5G internet of things. It is a slavery system.”  

In order to implement “The Great Reset”, Governors like DeWine must continue the charade of Covid19 restrictions. Already there is talk about the need for a second shutdown.   See here and here.  Governor DeWine can’t “rule out future shutdowns” because he isn’t the one calling the shots.

How can central bankers pull such a con job?

Sovereign nations used to create their own money supply. They no longer do. Today, banks have the power of King Midas to create money – and the political power that goes with it. People falsely believe that banks act as middlemen between borrowers and depositors. Instead, banks create money as mere accounting entries or “credits” to your account when you sign a promissory note to “repay” a loan. They do not take money from John or Sally to give it to you in the form of a loan. Rather, they wave a magic electronic accounting wand and credit money that never existed into your account. Banks literally create most of our national money supply. This has resulted in the largest banks controlling our governments. As Senator Dick Durbin said in 2009, “the banks … are still the most powerful lobby on Capitol Hill. And they frankly own the place.” Even in ethical hands, the system forces the most honest banker into moral crimes that he has not fully contemplated. For instance, while a bank gets to create money with just a few key strokes, a homeowner who has worked over a decade to pay half of his house note risks losing his house due to unemployment brought about through no fault of his own in these shutdowns. Clearly, our fraudulent system needs reexamination. 

There is only one restraint on banking power. Banks must keep what is called a “reserve requirement” on hand. That is, at a 10% reserve, for every new $10 they create in the form of loans they must have only $1 on deposit at the bank.  

The Reserve Requirement was effectively removed when Covid19 hit. The Federal Reserve now makes it possible for banks to borrow their entire reserve requirement at the Fed’s Discount Window, for a 0.25 percent charge. Thus, banks can borrow their capitalization virtually interest-free with no strings attached. Attorney Ellen Brown writes, “states find that they can sell their bonds to the Fed only at market rates of 3% or 4% or more plus a penalty. Why are elected local governments, which are required to serve the public, penalized for shortfalls in their budgets caused by a mandatory shutdown, when private banks that serve private stockholders are not?”  

Ellen Brown continues, “If there is a silver lining to all this, it is that the Fed’s relaxed liquidity rules have made it easier for state and local governments to set up their own publicly-owned banks. These public banks can then lend to local businesses, municipal agencies, and local citizens at substantially reduced rates while replenishing the local government’s coffers, recharging the Main Street economy and the government’s revenue base.” A growing economy would allow Ohio to pay bondholders and phase out the need for bonds at all.

This is not reinventing the wheel. North Dakota has been operating its own Public Bank for 100 years.   The Public Bank of North Dakota works in partnership with local banks and credit unions, to finance its own school and road construction.  That means that interest payments do not flow to Wall Street and bondholders. Instead, that money stays at home where it will recirculate in the local economy. This is not a trivial amount of money. Consider as an analogy, if you buy a house for a sticker price at $100k, you actually will pay $250k for the house over 30 years – another $150k is spent in interest payments then there are also fees. This is a powerful tool for a state, which is why Ohio needs such a Public Bank in its financial arsenal.  The savings are so big that the city of Los Angeles is looking to start its own bank. The savings mean that instead of Ohio cutting funds to schools, or worse closing schools forever, the state of Ohio could help a school district like Willoughby-Eastlake become whole. Savings offer other opportunities: to reduce the need for future tax increases, and to reduce or even eliminate certain types of taxes – like property taxes, which lead to the immoral confiscation of property that might represent a person’s lifetime of savings.    

The options are clear:  Ohio can own a public bank or the Big Banks can own Ohio. 

Roxane Premont

Categories: Education, Free Speech Zone, Uncategorized

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