(Natural News) Back in September last year, the Health Ranger Mike Adams put forward a scenario in which things could end in a global force majeure. This is slowly taking shape now as financial institutions start to crumble.
Finance website Investopedia defines force majeure as a clause included in contracts that takes out liability for unforeseeable and unavoidable catastrophes that interrupt the expected course of events and prevent participants from fulfilling obligations.
The examples cited are natural disasters like hurricanes, tornadoes and earthquakes, as well as human actions like armed conflicts and man-made diseases.
“It means that many financial obligations – potentially including social security, U.S. Treasury debt, pensions, derivatives, commodities paper contracts, industrial deliverables, insurance payout obligations, etc. – would be nullified,” Adams said during the September 12, 2022 episode of “Health Ranger Report.”
“This appears to be part of the ‘Great Reset’ plan to clear out U.S. Treasury debt by ‘defaulting without defaulting’ – i.e. blaming some other great emergency for the cancellation of financial obligations and the wholesale resetting of the global money canvas.” (Related: Global FORCE MAJEURE coming after declaration of World War III – many financial obligations, contracts and pensions will be vacated.)
Stock analyst Marshall Hargrave also pointed out that force majeure, by virtue of not always being 100 percent clear and transparent, generally favors the big guys. “Big, powerful insurance firms can use these clauses as an excuse to wriggle out of their obligations. Conversely, if an average Joe stands to benefit from a force majeure exception, they might not have the financial muscle to prove that the event in question qualifies,” the finance expert commented.
As the global banking system is starting to cave in, bank runs are becoming prevalent and the U.S. dollar has begun to see its demise. People who fear the unknown are now resorting to buying precious metals, especially gold for safety and security.
But according to DakotaDepository.com, a more likely scenario is that the government would ban gold ownership. It said that if the Fed wanted to restore a gold-backed dollar, it should become the top buyer of gold within the United States.
“For example, if the Fed believed that the dollar should be backed by gold at a rate of $15,000 per ounce, they may start by bidding $3,000 per ounce to see how much they can get people to sell at that rate,” the site noted. “They could then begin raising that price over time to get more and more gold to flow in until they reach their target for gold holdings necessary to support whatever exchange rate they are trying to peg. In this scenario, many people would be enticed to sell their gold and, so, no costly and impossible-to-implement confiscation measures would be necessary.”
Investopedia: COVID-19 pandemic could qualify as force majeure
According to Investopedia, the Wuhan coronavirus (COVID-19) pandemic could qualify as force majeure.
The Federal Reserve Bank of Chicago confirmed this in a newsletter titled “What’s the Potential Impact of Force Majeure Claims on Financial Stability?” published on its official site. It said that force majeure issues emerged as the pandemic unfolded in early 2020. Claims initially came out within the mortgage-backed securities markets in March of the same year following a period of extreme volatility in interest rates.
“Force majeure was also declared in the oil markets, after West Texas Intermediate crude oil traded at close to negative $40 per barrel on April 20, 2020. Another prominent example occurred nearly a year later in February 2021, when facing extreme winter weather in Texas, oil producers and chemical companies declared force majeure on their sales contracts,” the report stated.
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