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Quote:July 11, 2025 / Joseph P. Farrell
Deutsche Bank has a plan - they're calling it the Pennsylvania Plan - for America's debt crisis, and the plan is - as my parents used to say - a howler, a knee-slapping, side-hurting riot of laughter. The plan is outlined in the following article shared by S.C.G., who also included a few high octane speculations of their own, to which I've added a few embellishments. But first, the Pennsylvania Plan, or as it might be more aptly named in Deutsche Bank's case, the Pennsylslovakia Plan, or the Sudetentland 2.0 plan:
Forget the ’Mar-a-Lago Accord’, Deutsche Bank outlines ’Pennsylvania Plan’ for US
The plan's aim is to help fund America's spiraling debt by finding "new buyers" for its increasingly risky sovereign securities, and it's couched in all the usual Banksterese, a rare dialect of Griftospeak from the Fraud-and-Forked tongue family of languages:
Quote:Deutsche Bank (ETRBKGn)’s Head of FX Research George Saravelos has introduced a new concept called the "Pennsylvania Plan" to address America’s twin deficit problem.
The plan aims to find new buyers for US debt as America faces what Saravelos describes as "existential macroeconomic constraints" due to large fiscal deficits combined with a large external deficit and negative net foreign asset position. (Emphasis added)
Now, that's Banksterese for "there's not enough foreign buyers for all these *&^@#! American treasuries." Doubtless it was more colorful in German Banksterese than English Banksterese, but it comes to the same thing: we need more buyers for this shinola.
So what, exactly, is Deutsche Bank's "brilliant solution"? What is the Pennsylslovakia plan?
Well, before we get to that you might want to pour yourself three fingers of your favorite adult beverage, sit down, calm yourself, and breathe deeply, and have a nice long pull on that drink - aww heck, forget about the three fingers, just take the whole bottle with you to your favorite chair, and prepare yourself for some side-splitting laughter and hilarity, because the Pennsylslovakia plan is this:
Quote:The proposed Pennsylvania (sic.) Plan has two main components. First, it acknowledges the need to reduce reliance on foreign buyers of Treasuries, who currently hold record-high exposure to US sovereign duration risk. This includes promoting dollar stablecoins backed by short-dated Treasury bills to accommodate shifting demand preferences. (Emphasis added)
Doubtless you've already begun laughing, dear reader, and taken a couple of long pulls on that bottle, and thus may be wondering if they're spiking their schnapps over there in Frankfurt-am-Main, because what part one of the Pennsylslovakia Plan is telling you is that they plan to soak up your cash by selling you a crypto-currency that is "backed" by nothing but debt in order "to accommodate shifting demand preferences." What they're not telling you is that the "shifting demand preferences" are those of the banksters themselves, who are wanting to swap all that crapto-currency nonsense and fancy sheets of paper sovereign securities (if you're lucky enough to get those) for good old hard assets like land, buildings, houses, cars, gold, silver, jewels, and even equity positions.
But wait, there's more. This is Deutsche Bank, after all, and if anyone knows how to plunder a whole continent, it's Mitsubishi ....er... Deutsche ... well, nevermind. There's a part two to this German thoroughness, and it's another knee-slapping side-splitting guffaw of raucous laughter:
Quote:Second, the plan calls for increasing domestic absorption of US duration risk through financial incentives and potential financial repression. This includes regulatory carve-outs of US Treasuries from banks’ supplementary leverage ratio requirements, tax advantages for owning long-dated treasuries, and possibly mandating greater Treasury buying by retirement plans.
Saravelos explains the core aim is "to engineer a historic rotation of US duration risk from external investors to the domestic sector." While this won’t solve the underlying twin deficit problem, it could buy time by deploying domestic US savings.
Yes, you read that all correctly: they plan to force the domestic population to buy all the bond-backed crapto-currency via regulation and "incentives".
Or to put all of this Banksterese into plain language: as the foreign markets for US sovereign debt dry up, they plan to transfer ownership of all that to the American people by force, in return for hard assets, things like cash, equities, bullion, land, commodities, and so on. Meanwhile, you get electronic blips...
...it's a plan worthy of Hjalmar Schacht, and it leaves poor Hans Gruber, the villain from Die Hard, holding all those bearer bonds worth absolutely nothing and plunging from the building to the ground below. The only difference is, you don't even get the fancy-looking sheets of paper. You get the electronic blips...
I haven't laughed this hard since learning about the "electronic transfer systems" they plan to introduce with the bullion depositories. And to think I actually thought, initially, they were a good thing, and that the Utah goldbacks might be an indicator that things were returning to sanity. Boy, was I wrong...
See you on the flip side...
Hans Gruber falling from Nakotomi Plaza from the Movie "Die Hard". The little dots over his left shoulder are the bearer bonds he was trying to steal, falling with him.
The movie prop version of the bearer bonds Gruber was trying to steal.
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The Giza Death Star
"It is hard to imagine a more stupid or more dangerous way of making decisions than by putting those decisions in the hands of people who pay no price for being wrong." – Thomas Sowell
