Jennifer Arcuri, who was Boris Johnson’s mistress from 2012-2016, is a FinTech and cryptocurrency specialist and is telling the UK to prepare for a financial reset of epic proportions.
Arcuri spoke to MoneyMagpie about her research and warns people in the UK to stock up on non-perishable foods, light sources (torches, candles etc) and to make sure all their online and electronic information is backed up.
N.B. everything below is Jennifer’s own opinion and and doesn’t necessarily represent the views of Jasmine or the MoneyMagpie team. None of it should be taken as financial advice. Read on and make up your own mind.
- Why Jennifer Arcuri thinks your money is doing no good in banks
- Lockdowns are coming back
- Jennifer Arcuri warns of a cyber pandemic
- The coming Quantum Financial System (QFS)
- Stock up!
People are being advised to get their money out of the banks with the financial system set to collapse by October 2021.
That is the warning from cryptocurrency investor and co-founder of Hacker House Jennifer Arcuri, who says the economy will inevitably have to be reset within months, with the potential of mortgages forgiven and paper money replaced with cryptocurrency – with the potential for some cash to remain in circulation.
Arcuri, who has recently spoken in detail about her four-year affair with Prime Minister Boris Johnson between 2012 and 2016, has also revealed that there are things happening behind the scenes that will see the public either forced into being totally dependent on the state, or an alliance stepping in to restore freedoms akin to the ‘old normal’.
Arcuri says the Covid-19 pandemic has been used as an excuse to print unprecedented sums of money, under the guise of helping businesses and the self-employed, but instead it has simply devalued traditional paper money to nothing. She believes governments across the globe have been deliberately crashing the economy in order to usher in a new monetary system.
She said: “Any time you have a disruption of the supply chain, you risk inflation, you risk having economies completely shut down, causing crazy volatility. Now they’re saying it’s a V-shaped recovery but that couldn’t be further from the truth. And one of the reasons I have published a piece on these Special Drawing Rights [SDR] from the IMF, was to explicitly point this out that, from the crash of 2008, there was no behaviour that changed, it was merely the legislation – and we went from bail-outs to bail-ins. They legislated theft of people’s money. Then the first obvious question people ask me is, ‘well, what about when you have an under a certain threshold, then that’s guaranteed’?
“Well one merely needs to take the time to look into what each one of these accounts are meant to be paying you back, like with the FDIC (Federal Deposit Insurance Corporation) and realise that they have a fraction of what’s needed to pay out everybody.
“And if you see the derivatives – we’re talking hundreds of trillions of dollars. This is a huge bubble that has yet to be addressed or discussed in the media, but it is coming and so I had to take a very deep dive into macro economics. The point is, we are seeing it happen in real life, where we are debasing the value of the currency we hold the more we print.
“So back to the SDR (Special Drawing Rights), in 50 plus years, we didn’t have to print as much – we printed $200million – but in the last year the IMF issued $500billion. So with those, not just a few currencies, but the entire world’s currencies, one can’t help but think, ‘huh’. Look at how they’re debasing, not even a few for control, but everybody at the same time, almost as if driving them all into debt, a circle of dependency.
“So this is where I am looking at the various sectors, the reverse repo rates and charts and comparing them from a historical context and the interest rates. The housing market is propping up the market right now and that is the one thing that is doing OK because the prices have bubbled so high. So it’s only a matter of time before that peaks or collapses and at some point this fake paper currency will collapse on itself because there is only so much value you can deflate away.”
Asked to elaborate on bail-ins and whether she is saying people should get their money out of the banks, Arcuri said: “Yes, get it out. The banks have full authority to take your money. Sure, the Government will claim to guarantee a certain number on those deposits but let’s ask those in 2008 who lost everything how often that happens.
“So, yes, they can legally seize the money in your bank account. And that is quite a worrisome thing to say, which is why I don’t say it lightly. But it happened in Cyprus in 2013. The banks are going to hate me for that but yeah, you need to get your money out of the central banking system. This is why those that just want to keep £100,000, or £10,000 or even £1000 pounds and insure that, then precious metals is your way to go. If you want to hedge some of it in silver or gold and then some of it in crypto, then crypto is your transformational wealth, your gold and silver is for your nominal wealth.”
The build-up to October is significant. On Monday, the US is set to decide whether to increase their debt or suspend it. With the dollar being the global reserve currency, this comes with a warning from Arcuri, who has advised people to ensure they have enough supplies of essential items to avoid hyperinflation.
She said: “There could be price volatility and supply chain disruption. We’re already seeing that. I know that I have a large UK base on my Telegram channel, so I told everyone to stock up, even if it’s little bits, as much as you can. When you go to the store just an extra can of this or that, just so that if prices suddenly do surge, or your shelves bare, you’ve been able to, little by little, prepare for that.
“I personally believe that lockdowns will come back. I don’t know how long they’ll play this out but they’ll go find some excuse and that will be another way [to further crush the economy]. And I do see some kind of crash. It’s inevitable for 2021. And if we base it on history [crashes in October of 1929] I would see it happening in October, that’s the end of the fiscal political year. Based on historical context, you can see the run up [with everything happening], with it being some time in October.”
After Monday’s key decision comes another important date: August 11 – when only the second Bretton Woods Conference in history is due to be held. This last took place from July 1 to July 22 1944, during which the International Bank for Reconstruction and Development (IRBD) and International Monetary Fund (IMF) were formed. It was held to establish an international monetary system following World War 2.
Arcuri said: “This is a very interesting event, I find the timing of it extraordinary. Right now we aren’t necessarily in a bombs and guns kind of war, but we are certainly in a spiritual and psychological war. It’s really tough on the mind right now and we have gone into a global crisis of epic proportions. So this is where discussions will take place about a new economy. It would make sense that in some way we would stabilise and they’ll probably take a screenshot of the global debt clock and reset the numbers. This event is a very interesting time.”
Arcuri has also warned of a cyber pandemic, which she says could happen any time between now and October, when she believes the financial reset would have taken place.
Klaus Schwab of the World Economic Forum (WEF), who has written a book called Covid-19: The Great Reset, has made public the threat of a cyber pandemic, which he says will make the current one look insignificant. The WEF, together with the John Hopkins Center for Health Security and the Bill and Melinda Gates Foundation, hosted Event 201 on October 18, 2019, which according to the official website was “an exercise to illustrate areas where public/private partnerships will be necessary during the response to a severe pandemic”.
The WEF also held a cybersecurity drill called Cyber Polygon on July 9.
Many are worried about the WEF’s Great Reset, which claims “you will own nothing and be happy”. But Arcuri is more positive.
Asked if it is a good thing or something that should be feared, Arcuri said: “I think it’s a little bit of both worlds. A cyber pandemic has to happen in order to reset the system, it’s just how destructive it is; will everyone’s data be wiped? Some might not make it on the other side, we just don’t know. And that’s been my hesitancy with investing in paper stock at the moment.
There’s also talk of the Quantum Financial System [QFS], which I do believe does exist. Essentially we are shifting away from the SWIFT system and this new quantum computer will control the financial system. So I’m doing more research around this to really understand how this QFS would work, but I do have enough evidence around the interledger prep protocols – sending payment from one bank repository to another bank – this is where you can envision these highways of blockchains. And as I mentioned a few in my Telegram chat, they will all run different payment rails.
For example, everybody thinks XLM will be the new Central Bank Digital Currency (CBDC) ledger. And that’s cool. And XDC is the trade finance, everything that happens within trade finance will take place on that. And XRP (currently at the centre of a lawsuit by the Securities and Exchange Commission) is the one that will be settled between banks. There is a potential they may try to buy back the XRPs because really it’s not a retail hold, it’s a bank hold.
“But it [cyber pandemic] could happen at any point from this moment. It’s definitely coming – they told us it was coming, just like they’ve told us there was a pandemic coming [Event 201]. So let’s do some backups on our own servers that we keep in our house, transfer files, let’s make sure all our devices are protected and backed up. And ensure everyone has some kind of battery and flashlight, torches at home and candles, just everything if power does go out for whatever period of time.
“What happens when you can’t connect to the world? It’s not to scare people, it’s just to have an open, honest discussion about what could potentially affect the power grid if there was a system reset and to make sure people can still feed themselves and have enough food.”
Far from the doom and gloom many associate with what seems to be the inevitable move to a digital currency, however, Arcuri believes there is the potential for many positives.
She said: “This currency is at the end of its life cycle and the blockchain payment system will be so game changing in many ways. I can see people using XRP as collateral to stake and what they call mining, or yield farming. There will be different ways to earn on your assets in this new system, provided we are using these crypto currencies pegged to hard assets, there could be a huge liberation in the way money moves and how we can get paid. It’s automatic and moves seamlessly on blockchain.
“And I don’t think banks will function the same way as they do now. I have been reading recently how you will be able to lend out your XRP as a loan or whatever and you wouldn’t necessarily need the banks, you just use your stake as a holding. But these are things we are still working out. And imagine the productivity levels that will increase when you’re able to seamlessly move money around.
“There’s a few others that are good; Theta and FLR are definitely winners. There’s a handful of others but most of them will get wiped out as they won’t be able to pass the regulation of this new financial system.
“But I like theta for this decentralised video streaming solution and all of the major players will be using something like theta to save on server costs and the ability to stream on blockchain gives a whole bunch of opportunities, so there’ll be like a new internet, per se, the way that we transact will change. And I know the headlines become more and more and more creepy with this cashless society but ultimately there will be some demand for cash and I think we will be able to have cash.”
could your debt be wiped out?
The new financial system could in fact see debt wiped out. How this takes shape remains open to debate, with some fearing it could result in complete dependence on the state. But Arcuri says nothing is off the cards, adding: “If we are going to go from this central bank Ponzi scheme into a new blockchain, there’s no way to transfer all the debt. So there could be a chance of a debt jubilee. In which case, you wouldn’t have the same debt and there could be a way that your mortgage would be forgiven.”
Instead of what many fear to be a Great Reset, something the WEF has explicitly touted as “you will own nothing and be happy”, Arcuri believes there could be something of a great awakening instead.
She said: “Yes. And I know people will mock me and call it conspiratorial, but they clearly haven’t spent enough time looking at all the different dots because, when you join them up, it’s almost impossible to discount them.”
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This article is an opinion piece and should not be taken as financial advice. MoneyMagpie.com does not give financial advice and anything in this site should be taken as information only.