This article, originally published by Mercola in September of this year, is being rerun by LifeSite in order to highlight the global financial crisis and to help readers prepare. Help protect your assets today by investing in precious metals through St. Joseph Partners.
- Edward Dowd is a hedge fund “guru” and former equity portfolio manager for the largest asset manager in the world, BlackRock. Over the past two years, Dowd has courageously come forward to awaken people to the collateral damage of the COVID-19 pandemic.
- A global financial collapse is a mathematical certainty. Dowd predicts the collapse will begin in earnest within the next six to 24 months.
- COVID-19 provided cover for central banks and governments, allowing them to temporarily hide the reality that the financial system is crashing.
- COVID-19 also allowed for the erection of a control system to shield governments and central banks from the fallout of collapsing food, energy and finance systems. It allowed them to restrict travel and introduce digital IDs and central bank digital currencies by linking them together with vaccine passports.
- Insurance companies report a 40% increase in excess mortality among working-age adults during the fourth quarter of 2021. Millennials aged 25 to 44 had an 84% increase in excess mortality in that same timeframe. Since the rollout of the COVID-19 jabs, the number of Americans who claim to be disabled has risen by at least 10%, possibly more.
(Mercola) — In the video below, I interview Edward Dowd, a hedge fund “guru” and former equity portfolio manager for BlackRock, one of the two largest asset managers in the world, Vanguard being the other. Over the past two years, Dowd has courageously come forward to awaken people to the collateral damage of the COVID-19 pandemic.
For example, in early March 2022, Dowd shared mortality statistics on Steve Bannon’s War Room, showing Millennials aged 25 to 44 had an 84% increase in excess mortality during the fall of 2021.
An education in booms and busts
Dowd became interested in finance right out of college. He got a job with HSBC Holdings, the largest bank in Europe, as an institutional, fixed-income salesperson, selling bonds.
“That was a five-year education in what really happens in the capital markets,” he says, “and everything you learn in the textbooks is garbage … I learned about Wall Street, how it worked and how it was incentivized.”
Back when I was a bond salesman from 1990 to ’95, there were a bunch of scandals. Wall Street is basically a boom and bust operation. There’s usually a boom created by the Federal Reserve that puts money into the system.
They don’t control where their money goes and Wall Street takes advantage of that. And usually it ends in fraud
The scandal in the early ’90s was the fraud with the mortgage-backed securities. There was a big Wall Street firm that went under because they had some trades in the drawer. Computer systems weren’t as robust, so some traders were hiding losses and that firm went belly up.
Interestingly enough, BlackRock at the time helped fix that problem. They had computer systems [the Aladdin system] that helped analyze the mortgage-backed securities … it’s just risk management software basically.
So, I learned the engines of Wall Street, but I wanted to get into the stock business. I went back to business school at Indiana University, graduated in ’97 and went to Wall Street to Donaldson, Lufkin & Jenrette, where I was an electric utility analyst down the hall from the internet folks who were doing all the IPOs [initial public offerings].
Basically, fraud on the IPOs was at every investment house, and it wasn’t hard fraud, it was soft fraud. They just were not doing the due diligence that the institutions used to do. Before they would IPO a company, they would make sure that the company had things like revenues, and in the late ‘90s that went by the wayside.
So, a lot of firms without revenues and just ideas were IPO’d … Eventually the Fed [Federal Reserve] did what they do. They tightened interest rates, the bubble popped and a whole host of corporate fraud was exposed: WorldCom, Enron, Lucent Technologies, Nortel Networks.
After that bust, the Federal Reserve went back to printing money and, in 2008, the real estate bubble burst, resulting in a massive recession.
I describe the forces at work — then, and now — in “Who Is Behind the Economic Collapse?” At the time of that economic collapse, Dowd was working for State Street Investment Research, which was bought up by BlackRock.
Asset managers and the global cabal
To many, BlackRock appears to play an important role in the globalist cabal’s effort to usher in The Great Reset. Dowd, having signed a non-disparagement agreement, is not free to discuss his views on BlackRock, but he can talk about similar players, such as Blackstone and Vanguard, the latter of which is a similarly sized institution.
I don’t believe they control these corporations [the companies they own shares in], but they have undue influence, which Charlie Munger of Berkshire Hathaway has written about.
Basically, because of the growth of passive ETFs [exchange-traded funds] the voting of those shares goes to the senior executives of the firm. And so, there is some influence at Vanguard over some of the board votes.
Back in the day … most of the money inequities were managed by fundamental portfolio managers. I used to vote for the board but because we were so busy, we had like 80 companies in our portfolio, there was a firm called Institutional Shareholder Services, ISS, which would help us figure out the votes.
It was a software system that would analyze all the proposals and then tell us how to vote accordingly. And, if we wanted to withhold a vote or change a vote, we would. So, there seems to be a concentration of power in the votes. The vote used to be more spread out over many, many different people.
So, they don’t control [the companies they own]. Vanguard and BlackRock are agents. They manage other people’s money. But they do vote on some of the shareholder board proposals. So, they don’t get on the phone and call Bourla at Pfizer and say, ‘Do what we say.’ It’s more soft influence.
But I do believe, as concentration of market share, Vanguard and BlackRock are the biggest passive investment asset management firms. Charlie Munger had a point that it’s too much decision-making in too few hands.
Again, I don’t think they run the companies. But where there’s a concentration of power, there’s definitely things that can go awry and aren’t exactly above board, but I have no proof of that. It’s just when power’s concentrated bad things usually happen.
Kicking the financial doomsday can down the road
Lately, I’ve written many articles discussing the coming financial collapse. Worldly signs all point in that direction, and according to Dowd, it’s a mathematical certainty.
The Federal Reserve system, which is a debt-based monetary system, was created in 1913, the same year the IRS and tax system were created. The system of creating money through debt is inherently fraudulent.
In the early days, banks would lend the debt and the debt would find its way into different areas of growth, which would then get overheated. Fraud occurred because money was too easy, but it was mostly free market fraud.
In the late ‘90s, corporate fraud took over and we had a 50% stock market correction. The Federal Reserve responded by turning on the money spigot: They lowered interest rates and the money found its way into the real estate market, which turned into an unsustainable bubble.
Real estate was being hypothecated through collateral debt obligations and mortgage-backed security. Wall Street levered up 20-to-1, 30-to-1 on their balance sheets to make money and thought the party would go on forever. But inevitably, the Fed started to raise interest rates and the whole thing collapsed.
According to Dowd, the problem with this bank fraud was that it was systemic in nature. The central banks had to step in and buy this fraudulent debt.
So, this fraud still remains today, on the Federal Reserve’s balance sheet, and on the balance sheets of countless other banks. In other words, the fraud didn’t go away. It was just baked in and hidden.
Financial collapse is a mathematical certainty
“Then, governments, because the economy collapsed globally, started spending like drunken sailors,” Dowd says. “The last 12 years have been a ballooning of what I call the central bank-government bubble, the sovereign debt bond bubble.”
Who’s going to save that bubble? Who’s going to be the buyer of all that debt when this bubble finally blows up? Answer: No one. Many who are aware of the situation are just surprised the system has lasted this long.
It looked like it was ready to burst in 2019, and then, conveniently, COVID-19 showed up, which granted emergency powers to all central banks. Governments went on another spending spree, printing money, and this allowed them to kick the proverbial can down the road for another two years.
Here we are in 2022 and it’s unraveling again. And the reason why COVID was important is because the Federal Reserve was able to plug the hole in what was beginning to become a liquidity debt crisis.
They printed 65% more money. The money stock went up 65% year over year in 2020, and that was able to paper it over. Then, when the economy was shut down, it was an external shock, not in the internal shock, so when they reopened with all the money in the system, we had a recovery for a year and a half. Stock markets went crazy, credit markets went crazy, and we went back up again.
But here we are two years later, [with] inflation caused by the bad policies of the Biden administration, the EU, the money growth … also, COVID broke a lot of supply chains … Basically, we hadn’t had inflation in goods and services for the last 12 years. We had inflation in assets, stocks and bonds.
What’s going on now is the real economy is feeling the effects of the inflation, the bad policies. We’re starting to see the U.S. dollar go up, and the dollar is a reserve currency of the world. Over the last 22 years, there’s been a tremendous growth in what’s called dollar-denominated debt … We have about $15 trillion in dollar-denominated debt.
So, when you see the dollar going up, that’s indicative of a debt crisis because money’s becoming tight. There are fewer dollars out there. People are scrambling for dollars. And the reason why I think we’re imminently going to collapse is we’ve never seen a commodity inflation cycle with the dollar going up at the same time …
You can make the case that it’s intentional because the policies are so bad that they’re shutting down energy production. Before the Ukraine War, Biden’s first executive order on Day 1 of his administration was to shut down the Keystone pipeline. So, here we are. I think we’re at the end.
COVID provided cover for the central banks and the governments, but it also allowed for a control system. If everything’s going to collapse, wouldn’t it be nice to have a control system where travel is restricted, you can blame it on a virus, you create vaccine passports, which then get linked to digital IDs, and then central bank digital currency. So, I think COVID was a convenient excuse.
As we roll through time, I’m starting to think this was a plan. I don’t have evidence, but the fact that we’re not stopping what’s going on suggests to me that it’s a conspiracy of interests, and they don’t want to stop the rollout of these vaccines.
And the longer this goes on, the more convinced I become that COVID may have been a plan. I used to say it was a convenient excuse, but the longer this goes on, the more ridiculous this becomes. So, I think there was ill intent.
A question of when
Dowd believes the initial financial collapse will occur within the next six to 18 months, or at most 24 months. If stock markets become seriously unhinged and we start getting declines of more than 40% in the indices, the Federal Reserve may start buying stocks outright, which will result in a neo-feudalism system that will only magnify already existing discrepancies between the have and the have not’s.
The reason for that, Dowd explains, is because:
There’s no market mechanism to punish anybody for making bad decisions. Their bad decisions are bailed out by the central banks. The moral hazard is so high that if you just are a C-suite executive at a major Fortune 500 company, you’re going to become phenomenally wealthy and not have to really be good. You’re going to be one of the lords and the workers and everybody else are going to be struggling to make ends meet.
That’s what’s been going on for the last 12 years. The economy for the most part has been an economy of the big and those close to the printing machine … If you’re trying to actually create a small business, if you’re a worker at one of these corporations and you don’t get a lot of stock options, you’re not getting ahead.
Why Dowd started speaking out about the COVID jab
Dowd, who lives in Maui, first got involved in the anti-jab fight when the mandates were rolled out. In Maui, you had to have a vaccine passport just to enter a restaurant or gym.
I was suspicious of the jab from the get-go because I knew two things: Operation Warp-anything sounds like a disaster. Seriously. And No. 2, it was experimental, and I knew that most vaccines took seven to 10 years of safety data to be vetted before they were put into people’s arms.
So, I just thought everybody would be like me — rational — and not take it. Then, when I saw the propaganda machine, the social pressure, I knew something else was afoot, that something was going on, and that’s when I got super involved. I started going to rallies on Maui. I started meeting like-minded people and that’s how I got hooked up with Dr. [Robert] Malone here on Maui.
Now I’m part of the crew that’s trying to expose this crime. When I met [Malone] in October of 2021, I told him I had a suspicion there were lots of bad things going on with the vaccines … I said I would be monitoring the insurance companies and the funeral home companies, and if my thesis was correct, they’d show up in those results — and sure enough, they did.
The choice to focus on nongovernment databases was prescient, as the CDC in recent months has started compromising mortality statistics. They’re supposedly upgrading servers and reloading all-cause mortality data, and now tens of thousands of death reports are missing.
All-cause mortality is a crucial endpoint for any drug
“I was using the fraud word pretty liberally in the fall of 2021 in regards to Pfizer,” Dowd says, and as soon as he saw that the FDA wanted to hide Pfizer’s data for 75 years, he was utterly convinced. “That’s prima fascia evidence of cover-up,” he says.
Now, as those documents are starting to pour out, at a pace of 55,000 pages per month, we’re coming to realize what the FDA and Pfizer were so eager to hide.
The all-cause mortality endpoint, this is something we need to talk about. Normally, if you’re a single product biotech company and you do a clinical trial that fails the all-cause mortality endpoint, the drug does not get approved [by the FDA].
At the end of the day, if the risk is higher than the benefit, this thing doesn’t get approved. The all-cause mortality endpoint for the Pfizer vaccine, when they touted its effectiveness, they conveniently hid that data point from everybody. It came out in the FOIA request in the fall and, again, the trial was only 28 days.
This is also just unprecedented. So, in 28 days, there was something like 23 deaths in the vaccine group and 17 in the placebo group, which gives all-cause mortality excess of 23%. It should not have been approved on that alone. That’s fraud in my humble opinion.
As noted by Dowd, one of the most remarkable counterarguments to come out of a fraud litigation case against Pfizer in recent months is Pfizer’s attorneys claiming that even if there is fraud, Pfizer cannot be prosecuted because the government knew about it.
“Why is this not the biggest headline in the mainstream media?” Dowd asks. “Only those of us in the echo chamber that are on top of this issue seem to know this.”
In the real world, the all-cause excess mortality demonstrated in Pfizer’s trial is turning out to be on the money. The U.K., for example, has seen excess mortality rise between 10% and 20% since the shots rolled out.
In other areas, and/or in certain age categories, excess mortality is far greater, yet the FDA and CDC are just going along with it, doing absolutely nothing to warn anyone of the risks.
Shocking increases in excess mortality
As noted by Dowd, insurance companies were reporting a 40% increase in excess mortality among working-age adults during the fall of 2021. A 10% all-cause mortality rise is a once in a 200-year catastrophe, so 40% is just off the charts.
Before the CDC started manipulating its death statistics, that too showed all-cause mortality was up by about 40%, Dowd says. The smoking gun in the CDC data was found when excess mortality was broken down by age group.
Millennials, those between the ages of 25 and 44, had a whopping 84% increase in excess mortality during the fall of 2021.
They try to explain it away by saying, well, lockdowns cause deaths of despair, suicides, drugs and alcohol, and people missing their cancer screenings.
Well, in a three-month timeframe, we went from 40% to 50% excess mortality in the summer, to 84% excess mortality into the fall for the millennial age group, which represented about 61,000 people between March of ’21 and February of ’22.
Sixty-one thousand excessive deaths represents a Vietnam War in one year for that age group. That’s what occurred. And look, these are ages 25 to 44. You shouldn’t be dying at that age unless it’s accidental or self-induced via suicide or drug abuse.
And you can’t tell me that everyone decided, in a three-month timeframe, to commit suicide and overdose on drugs. Makes no sense.
There was also a huge shift in deaths during 2021 from the old to the young, with younger people now dying at an alarming rate.
“At this point, we have evidence of the crime,” Dowd says. “What I’m shocked at is the fact that the mainstream media are still blacking this out. The good news is there seems to be word of mouth, and more and more people, because the vaccine doesn’t work, aren’t getting boosters.”
Massive increase in disabilities
According to Dowd, insurance companies are also reporting increases in disability payments for the first quarter of 2022, and both insurance companies and funeral homes are also seeing a continued rise in excess mortality.
In the second quarter, insurance companies are playing games right now where they’re releasing reserves, they’re increasing pricing, so, it doesn’t look as bad, but it’s still not good.
The funeral home companies are still seeing growth above what they thought they’d be seeing. They thought they’d be returning to trend line and they’re still getting year-over-year growth. You got to remember their year-over-year growth is versus 2021.
So, they shouldn’t be growing. And these are same-store sales, not via acquisitions. So, these are same-store sale comparables year over year. And both funeral home companies that I looked at for Q2 grew same-store sales between 2% and 3%, which is comparable to Q2 of 2021. It should be collapsing 20%, 30%, and it’s not.
Let’s talk about the disability data. This is super important. I think we’re going to find — as tragic as the worst adverse event, death, is — there are some things worse than death; life-altering disabilities that make your life unlivable, and those who live with you have to take care of you.
And the impacts to society are way worse than a sudden death … My partner, who was an ex-Wall Street insurance analyst, discovered a Federal database, the U.S. Bureau of Labor Statistics, and the good news about them is they don’t have any skin in this game.
They do a household survey every month. Every month we get the employment numbers that comes from them, and they do a bunch of different questions, some of which are in regards to disability, which essentially come down to ‘Are you disabled and/or is anybody in your household disabled of working age?’
For the five years prior to 2021, that number was between 29 million and 30 million. It’s now 33 million and growing significantly since 2021. And it really started to take off in May, June of 2021.
I had some Ph.D. physicists who’ve done some statistical analyses, and they’re saying that it’s almost a four-standard deviation above the norm, and the slope of it, the rate of change, is alarming.
We’ve increased the disabled by 10%. Now, this has nothing to do with disability claims. This is self-identification. This is not tied to a doctor’s note or getting on disability. This is just someone saying, voluntarily, that they’re disabled …
So, the number of disabled could be way, way more. We’re just scratching the surface here. But the signal is the change, the rate of change, the standard deviation above the norm, which is four. Three standard deviations is crazy.
Four is like, ‘WOW!’ So, this is what’s going on. If you ask yourself, why is there a labor shortage? I think this explains a lot.
And you multiply this globally, and they talk about supply chains and inability to hire people — this is definitely going on. I also think a large part of the inflation we’re seeing is due to people not able to work.
If there’s a silver lining to this mess, it’s that parents are waking up to the dangers of not just the COVID-19 jab but also the childhood vaccination schedule as a whole. As of early August 2022, only 3% of children under age 5 had received the COVID-19 jab. Many are also taking a second look at other vaccines, including adult vaccines.
This is long overdue, as none of the vaccines on the childhood vaccination schedule has ever been compared to a true placebo to confirm safety and effectiveness, and no studies have been done to confirm that giving multiple vaccines simultaneously is actually safe.
“I think as this scandal collapses and unfolds, it’s going to remake a lot of our institutions,” Dowd says, “and I think that’s a good thing. I think people like yourself and others who’ve been out in the wilderness are going to be vindicated. I’ll never take another vaccine again, or a flu shot. I’m done. I’m out.”
Are you prepared?
With regard to what you can do to prepare for the inevitable financial crash, Dowd says:
People ask me for investment advice. I’m loathe to give it, but I will say this: If financial assets are going to collapse, don’t worry about inflation. It’s probably a good idea to have some of your portfolio … in cash, to take advantage of the blood-in-the-streets scenario that’s coming.
So that, when everyone’s selling, you’re doing what JP Morgan of old did — you’re buying. That’s not a bad idea.
Aside from protecting your financial assets, you’d be wise to prepare for other related scenarios as well, such as food, water and energy shortages. Shore up supplies and figure out how to live in an “off-grid” scenario, in case daily conveniences suddenly vanish.
Also prepare yourself mentally, emotionally and spiritually for what could be stressful and challenging times as the globalist cabal continues to push The Great Reset forward, which will require more “emergencies.”
We got the midterms coming up. The people in power are deathly afraid because crimes have been committed, so I suspect shenanigans. They’re trying to get monkeypox going. That doesn’t seem to be capturing the imagination of the people.
They may try, I suspect, good old-fashioned war. War usually takes care of a lot of problems.
The thing we need to worry about is China. China has a demographic problem. They’re in a demographic decline that started in 2020 … In the ’80s and ’90s, everyone said Japan was going to overtake the U.S. Well, Japan had a demographic bust.
They collapsed and they’ve lost two decades. China is just hitting that now. Larry Fink’s a good businessman, but he is going into China at exactly the wrong time. China is done in my humble opinion. It’s a contrarian viewpoint, but it’s backed by data …
They’re over-indebted and they’re literally imploding as we speak. A lot of these COVID lockdowns you see in the last couple months are nothing more than covering up bank runs. One of their biggest fears … is their own population.
As long as they kept people fed and getting jobs, they didn’t have to worry. If there’s an economic collapse, what traditionally most countries do is they create an outside demon that unites everybody.
If I’m China, and I’m running the show and I’m an evil person, I would start something with Taiwan just to get everybody focused outside of the internal issues in China.
Reprinted with permission from Mercola.