by Dr. Joseph Mercola
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 'pandemic'
global financial collapse is a mathematical certainty.
Dowd predicts the collapse will begin in earnest within
the next six to 24 months
COVID provided cover for central banks and governments,
allowing them to temporarily hide the reality that the
financial system is crashing
COVID also allowed for the erection of a control system
to shield governments and central banks from the fallout
from 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 jabs, the number of
Americans who claim to be disabled has risen by at least
10%, possibly more
In the video at foot page, I interview
Edward Dowd, a hedge fund "guru" 1
and former equity portfolio manager for
BlackRock, one of the two
largest asset managers in the world,
Vanguard being the other.
the past two years, Dowd has courageously come forward to awaken
people to the collateral damage of
the COVID 'pandemic'.
For example, in early March 2022, Dowd shared mortality statistics
on Steve Bannon's War Room, 2 showing,
Millennials aged 25
to 44 had an 84% increase in excess mortality during the fall of
in Booms and Busts
Dowd became interested in finance right out 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
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.
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
So, a lot of firms without revenues and just ideas were IPO'd...
Eventually the Fed (Federal Reserve) did what they do.
interest rates, the bubble popped and a whole host of corporate
fraud was exposed:
Lucent Technologies, Nortel Networks."
After that bust,
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's 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.
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 undo influence, which Charlie Munger of Berkshire
Hathaway has written about," Dowd says.
"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
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
But I do believe, as concentration of market share, Vanguard and
BlackRock are the biggest passive investment asset management
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
Its' just when
power's concentrated bad things usually happen."
Financial Doomsday Can Down the Road
Lately, I've written many articles discussing the coming financial
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
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
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
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 on countless other banks. In other words, the fraud didn't go
It was just baked in and
Collapse is a Mathematical Certainty
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?
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,
COVID showed up, which granted emergency powers to all
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," Dowd says.
"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
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
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
You can make the case that it's intentional because the policies
are so bad that they're shutting down energy production. Before
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
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
So, I think there was
A Question of
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."
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," he says, "because I knew two things:
Operation Warp-anything sounds like a disaster...
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
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
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.
upgrading servers and reloading all-cause mortality data, and now
tens of thousands of death reports are missing. 3
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.
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
At the end of the day, if the risk is higher than the benefit,
this thing doesn't get approved.
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
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
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
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.
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
A 10% all-cause mortality
rise is a once in a 200-year catastrophe, so 40% is just off the
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.
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
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
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."
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
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.
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
For the five years
prior to 2021, that number was between 29 million and 30
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
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 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 jab. 4 Many
are also taking a second look at other vaccines, including adult
This is long overdue, as none of the vaccines on the childhood
vaccination schedule has ever been compared to true placebo to
confirm safety and effectiveness, and no studies have been done to
confirm that giving multiple vaccines simultaneously is actually
"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
I'm done. I'm out."
With regard to what you can do to prepare for the inevitable
financial crash, Dowd says:
"People ask me for
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 -
That's not a bad
Aside from protecting
your financial assets, you'd be wise to prepare for other related
scenarios as well, such as
Shore up supplies and
figure out how to live in an "off grid" scenario, in case daily
conveniences suddenly vanish.
Also prepare yourself,
could be stressful and challenging times as the globalist cabal
continues to push
The Great Reset forward, which will require more
"We got the midterms
coming up. The people in power are deathly afraid because crimes
have been committed, so I suspect shenanigans," Dowd says.
"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
The thing we need to worry about is
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
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
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."
of Evidence Ed Dowd
Rockwell March 22, 2022
Ethical Skeptic August 20, 2022 Part 1
August 2, 2022