Melissa Cuimmei on the Banking Crisis

Melissa Ciummei, a financial investor from Northern Ireland, discussing the unspoken reason for the current state of the World financial system.

In her interview with EMeRgent Sea, Ciummei explained that things started to go wrong when the United States dollar, the reserve currency, “came off the gold standard”.

In early August 1971 France sent a warship to New York harbour with instructions to bring back its gold from the New York Federal Reserve Bank. On 15 August 1971, President Richard Nixon suspended convertibility of the US dollar into gold. This was the beginning of an era of “fiat money.” This enabled the United States to live beyond its means through annual budget and trade deficits and a growing national debt. This debt-based system that was created, said Ciummei, “in truth, collapsed in 2008. [Events of 2020/21] all should have happened really around then. But they managed to reinflate the balloon.”

They managed to reinflate the “balloon” using Quantitative Easing and the printing of money by Central Banks. “There’s an ability that they can create money out of nothing and loan it to the government who pay them back with interest,”

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