Some definitions:Klaus Schwab tells us that in the Great Reset that the World Economic Forum is preparing for us "you will own nothing and you will be happy." Well, we already own nothing. Our bank deposits and stocks and bonds, in the event the depository institution gets into trouble, belong to the depository institution's creditors, not to us. All assets are pooled and serve as collateral whether or not labeled "segregated."Please do understand that the dispossession of which I write is your dispossession.
- An "account holder" is you, your IRA, your pension plan, your stock and bond investments held at an "account provider" or "intermediary" or "depository institution" such as Merrill Lynch, Schwab, Wells Fargo.
- An "entitlement holder" is the definition of you whose ownership claim to your financial assets has been subordinated to the claims of "secured creditors" of the institution where you have your accounts.
You might remember that during the last financial crisis we were told that there would be no more bail-outs, that in the future there would be bail-ins. A bail-out is when central bank money creation rescues the favored troubled financial institutions. A bail-in is when the depositors' assets are used for the rescues.
Comment: This is the desert region's heaviest rainfall in at least 75 years - since 1949, when proper record-keeping began there... so, for all we know, it's the Arabian region's heaviest rainfall in the entire modern era.
Elsewhere in the region: Flash floods hit Oman - at least 18 killed