This is the real reason for the COVID19 event. It was done to provide cover for the people who were trying to stop a total collapse of the global banking system when 500 European banks were on the cliff edge and about to go bust, wiping out Europe's economy, and knocking down all the dominoes in the interconnected One World Order banking system. No diversity means no resilience, no strength.

Wirecard … the biggest accounting fraud? Is the customers money safe? The end of Banking-as-a-Service?

https://thefinanser.com/2020/06/wirecard-the-biggest-accounting-fraud-is-the-customers-money-safe-the-end-of-banking-as-a-service.html/

Some of us are old enough to remember Arthur Anderson and Enron, a mixture of two companies that created an accounting mess bigger than any seen before in corporate history. That was until Ernst & Young (EY) and Wirecard.

Interestingly, there have been many auditing mess ups in the past few decades, but there are some really surprising issues with this latest one, such as EY not bothering to even check the company’s bank statements for the past three years. Even my accountant does that!

In fact, what is astounding is that the missing €1.9 billion was only discovered as an irregularity when EY finally did check the financial dealings of Wirecard in Singapore, Manila and Dubai. When EY asked two banks in the Philippines for the Wirecard account balance and the banks said: What Wirecard account? We don’t deal with them. Hmmmm … Wirecard claimed they had over two billion dollars in those accounts. How strange?

Anyway, you can read all about it in the links at the end of this blog, but there’s two other things that come to mind. One, this is the biggest accounting fraud in post-war European history and, two, it involves a licensed and regulated financial firm with not just direct customers but also many, many third parties like Anna Money, British Airways Executive Club, Curve, Ramsdens and more.