Conjured Money and a Rigged System

“His money is twice tainted. ‘Taint yours and ‘taint mine.”

— Mark Twain

Addison WigginDear Reader,

Scandals and corporate favoritism… conjured money and a rigged system…

… these are the themes our guest writer this week, Nomi Prins, covers from an insider’s perspective. 

Today, Nomi investigates what she believes will go down as the greatest wealth transfer we’ve witnessed to date. – Enjoy, Addison

The Greatest Wealth Transfer of All Time

Nomi PrinsDear Reader,

Markets don’t care about you.

That’s one of the hard truths I’ve learned over my career as an international investment banker and investigative financial journalist.

They don’t care who you vote for, what you wear, where you live, or the size of your mortgage or rent payment.

And they’re not concerned about whether you work from home, work in a factory, or run your own business.

They only care about two things… money coming in and money going out. That’s it.

I saw this firsthand during my 15 years on Wall Street. But I left that world behind – including a cushy, seven-figure salary…

And I set out to expose the secrets of the systems that create and move money around.

Below, I’ll show you why. And I’ll share one of the key places money is flowing into today.

First, some background…

I got my start as an analyst at the Chase Manhattan Bank.

I rose quickly through the ranks at Chase. And I went on to hold senior positions with Lehman Brothers, Bear Stearns London, and Goldman Sachs.

But one day, I walked away from it all.

Since then, I’ve dedicated my life to helping people understand what’s happening in the world of money. And what it means for their wealth.

After I left Wall Street, I dug into the elite connections that shaped corporate favoritism… and the scandals that resulted.

And I warned of the calamity that would befall the financial system due to the house of cards Wall Street had created.

In fact, I forecast the 2008 financial crisis four years before it happened… And I wrote about exactly how and why it would unfold.

I published my first book about this in 2004, just two years after leaving Wall Street. It was called Other People’s Money: The Corporate Mugging of America.

In it, I warned that the “next bull market’s bust will be even more devastating than the last one.”

And I wrote this about the activities of big banks and insurance companies, such as AIG:

A brewing area of conflict of interest at the supermarket banks is their use of credit derivatives… The picture will only worsen when [insurers] start admitting their losses… which they are not obligated to disclose during their fall, but only when they hit bottom.

Four years later, these activities led to the $13 trillion mega-bank bailouts during the 2008 financial crisis – which were just the beginning.

I was one of the few insiders who dared to expose this exclusive global banking framework. And I wasn’t afraid to talk about it…

I did interviews on TV and radio… I spoke to audiences of students and politicians… I wrote numerous newspaper articles and books on the subject.

But nobody listened… until the crisis hit.

Then, my phone didn’t stop ringing. Interview and speaking requests came fast and furious.

Since then, I’ve made it my mission to shed light on the moral rot at the core of Wall Street and the shadiness of corporate America.

I’ve exposed…

  • How the too-big-to-fail banks that got bailed out during the financial crisis had the tightest top-level government connections – and the most help from the Federal Reserve.
  • The blood, money, and power relationships between Wall Street banking dynasties and American presidents throughout the 20th century. These connections still impact our lives today…
  • I even filed Freedom of Information Act requests. I did this to uncover information at the Clinton and other libraries. I wanted to get to the bottom of how those banking-political relationships impacted ordinary people.

See, for years, major central banks have reinforced a rigged system that has brought more inequality to the world.

By the time the COVID pandemic hit, global central banks had conjured more than a $30 trillion monetary cushion to support major financial players and the markets.

And they did this at the real economy’s expense. The richest 1% hold more wealth than the seven billion other people on Earth.

That’s why disruptions to the prevailing system are set to intensify.

We’ll see civil and political unrest. But there will also be opportunities to profit…

That’s because we’re now at the point of no return from permanently subsidized markets.

In fact, we’re on the verge of the greatest wealth transfer in the history of America. It’s a $150 trillion shift I call “The Great Distortion.”

Regards,

Addison Wiggin

Nomi Prins,
For The Wiggin Sessions

P.S. The transfer of wealth is being led by the U.S. Treasury Department… America’s biggest banks and corporations… and billionaires like Jeff Bezos and Elon Musk.

Their goal? A complete transformation of America.

Those who fail to prepare could be left behind. But the good news is that investors who see what’s coming could multiply their nest egg ten-fold with a few key investments.

I put together a special briefing all about this $150 trillion wealth transfer… and how you can get in on the action.

To watch it, click here.

Addison Wiggin

Addison Wiggin

Addison Wiggin is founder and executive publisher of Agora Financial LLC, an independent economic forecasting and financial research firm. He and Bill Bonner began writing the firm’s flagship Daily Reckoning in the midst of the tech boom and bust. It was one of the first widely distributed email newsletters on the Internet. The publication’s critical eye on finance and economics continues today. He’s also creator and editorial director of Agora Financial’s daily missive The 5 Min. Forecast.

Recent Alerts

Sleepwalking Into Nuclear War

We return today — however reluctantly — to the unsettling topic of nuclear war. Read More

Debt Dominoes Fall

The countdown clock begins: Russia defaults on a $100 million payment… But it’s not that Russia’s government lacks the money. Read More

What Really Wrecked Crypto

Here’s the problem for crypto: At this moment in financial history, it trades like a “risk asset” along with stocks. Read More

“This Is Not Dystopian Science Fiction”

“Weaponizing health apps — foreshadowing of things to come outside of China?” writes one of our longest of longtime readers. Read More

The System Turns “Critical”

For an update from the Prospectors and Developers Association of Canada (PDAC) in Toronto, we turn to energy, mining and precious metals expert Byron King. Read More

Reality Check (Energy)

It fell to Treasury Secretary Janet Yellen to take the bullet on the talk show circuit… and deny that Team Biden policies have anything to do with high gas prices. Read More

IRS Springs a Surprise

“They will find you, they will find your assets, they will find your account[s],” says Mark Steber of Jackson Hewitt about the goons at the IRS. Read More

Crashing the Economy to Crush Inflation

It’s becoming painfully apparent the Fed no longer has the economy’s back. Read More

The Fed Will Fail

The media won’t have the Fed’s back Read More

Worse Than 2008

The financial media are starting to invoke memories of 2008. Read More