Following the adoption of the debt package by the Bundesrat on March 21, 2025, the way was cleared for the largest
borrowing in the history of the Federal Republic of Germany.
The mainstream media spoke of around one trillion euros in new debt.
However, as current calculations on the CDU/CSU and SPD's deal with the Greens show,
the new mountain of debt could be far greater.
The economist Wolf Heinrich Reuter, who was chief economist at the Federal Ministry of Finance until the traffic
light break, expects new debts of "at least 1.8 trillion" euros over the next ten years as a result.
In view of this enormous sum, a whole series of leading economists and even the Federal Audit Office sounded the alarm and
warned urgently of the negative effects of the debt package.
However, their warnings were more or less ignored by the mainstream media and only a passing mention was made
of the top economists who raised their voices in warning.
These were, for example, ● Lars Feld: Professor of Economic Policy at the University of Freiburg and
former Chairman of the "Council of Economic Experts"
● Veronika Grimm: economist, professor at the Technical University of Nuremberg and member of the "Council of Economic Experts"
● Volker Wieland: Director of the Institute for Monetary and Financial Stability (IMFS) at Goethe University
Frankfurt and former member of the "Council of Economic Experts"
● Justus Haucap: Dean at Heinrich Heine University Düsseldorf and former Chairman of the Monopolies Commission
● Christoph M. Schmidt, President of the Leibniz Institute for Economic Research
All these leading economists fear that the debt package will fuel inflation and lead to a
major loss of prosperity for the German population.
This could even jeopardize European financial stability and cause the euro crisis to flare up again.
In this context, the renowned economist, management consultant and author Dr. Markus Krall also speaks of the biggest
robbery in the history of the Federal Republic of Germany.
Below you can see excerpts from two interviews with Dr. Krall and financial expert Ernst Wolff by the
well-known educationalist and author Krissy Rieger.
They analyze the plans of the prospective new federal government under Friedrich Merz and,
above all, get to the heart of the implications:
Krissy Rieger: Hello my dears, today we have Markus Krall with us. Thank you very much for your time.
Markus Krall: With pleasure, Ms. Rieger. Always new.
Krissy Rieger: We're still going through turbulent times, you could say, from our last conversation.
And now the federal election results are in, everything is over. And what do you think?
Were you surprised, also that the CDU/CSU has become more popular again, now that the final result is in? What do you think?
Markus Krall: Well, the CDU/CSU actually did much worse than it should have, given the
disastrous performance of the traffic light government.
Yes, well, if you are blessed with such a bad government as the CDU has been as an opposition, then you
should actually get somewhere between 35 and 40 percent.
In principle, it is thanks to Mr. Merz's poor performance even before the elections that the CDU
did comparatively badly, given the circumstances.
And if you also consider that he basically dropped the mask after the elections and not only broke every single election promise,
but turned it into its opposite, then it is not surprising that the AfD is now only two percentage points away from the CDU.
And I hope that the AfD will soon overtake the CDU so that the proverbial night of the long knives breaks out in the CDU
and this party gets rid of its really completely failing leader.
Krissy Rieger: Which election promise did you find the worst to break?
Markus Krall: Well, that's difficult. Actually, every single one was so disastrous that you don't even know where to start.
Of course, the thing he emphasized most was that he wanted to pursue a sound financial policy.
Now, within the space of four weeks, he has raised more debt than the entire Federal Republic of
Germany has taken on since it was founded in 1949.
You have to imagine that. It is true that it has not doubled its debt, but the Federal Republic
of Germany did not start with zero debt back then.
So what was there then, the difference from then to what is there today, is roughly equivalent to what Mr. Merz is
now doing again in one fell swoop with his debt package.
It therefore doubles the debt of the Federal Republic of Germany, grosso modo bringing the country to Italian conditions, namely
to over 100 percent debt relative to gross national product, which will lead to a huge crowding out of private investment.
So private investment is pushed back by this government demand that then sets in.
The whole thing is a march towards socialism.
And the second major, the second major catastrophic, yes, the second major catastrophic breach of promise is in principle
with regard to migration. Here he has marked the strong Max.
And what we see now is that he jumped as a tiger and landed as a bedside rug, with Ms. Esken as a bedside rug.
So that's something you have to give yourself.
Yes, I think she has a pleasant tingling sensation in her toes every morning when she walks over this rug.
And the third major issue where he has also failed completely is, of course, the whole issue of energy and climate.
Because, in principle, he is now continuing the destructive policy that Habeck pursued and which is
responsible for the deindustrialization of Germany.
And I have to say that the combination of all this has something of Honecker-like socialism about it.
So that's already on the line where you have to say that if you want to bring about the
downfall of Germany, then you would do it like this.
Krissy Rieger: He has, so to speak, eradicated all his election promises, you could say.
Markus Krall: Yes, it was already a bit marked out before, but now it's really eradicated, you could say.
Krissy Rieger: When it comes to debt, it's always said that it's important for the economy.
Would you say that this debt is now driving the economy and now it's changing?
Markus Krall: That's a lot of nonsense, that this debt would help the economy.
These debts help the large corporations, i.e. the arms companies and some other large
corporations, but they will not invest in the German economy.
So let's take, for example, the four billion - probably 500 billion - in armaments spending that Mr. Merz wants to initiate.
Who benefits from this? Companies like Rheinmetall.
However, Rheinmetall is not investing in Germany because the energy costs in Germany for this highly energy-intensive
production are so high that it is not even worthwhile for them.
They are currently building new plants for ammunition and all sorts of things in the rest of Ukraine.
Yes. They are building them in the rest of Ukraine.
They are creating a small economic miracle, but not in Germany. And that's how it will be everywhere.
So this money will be wasted. It won't help the economy in any way, even if one or two company bosses are already rubbing
their hands together and thinking, oh, that's going to be great, what's in store for us. Yes, we're going to make extra profits.
Yes, some will make special profits, but the middle class will of course be pushed back
further at the expense of the corporations.
So that's a principle. What did Mussolini say? Fascism is the merger of the state and large corporations.
That's what we have here again. In the economic sense.
And what we will see, of course, is that this program will not help the economy, but will
harm it on a large scale. And for several reasons.
Firstly, the fact is that this 1,800 billion will eat up the entire German savings performance for four and a half years.
So 400 billion is the 10 percent of gross national product that Germany saves every year.
So we have to put all our savings into government debt for four and a half years so that we don't have to go into debt abroad.
Of course we will also take on debt abroad, but just to make the order of magnitude clear.
The second issue is that Germany's credit ratings are falling to Italian levels.
And up to now, Italy, France and others have only been able to refinance themselves reasonably cheaply
because they have borrowed Germany's credit rating.
Through the guarantees and through the euro and all the transfer options that have been exhausted.
And of course in breach of all the promises made to us in 1999 when the euro was launched, but that is another matter.
So, now Germany is falling into the same creditworthiness trap and there's no one to lend us their creditworthiness.
The result will be rising interest rates on the international capital markets for German bonds and loans.
And these rising interest rates will crowd out private investment.
A house builder who just pays five or six percent interest on the mortgage can no longer afford it, so he won't build.
Exactly the same applies to the entrepreneur who builds or does not build a factory or invests or does not invest in software.
These investments will no longer take place and in the technical language of "economist Chinese" this is called "crowding out".
In other words, the crowding out of private investment by government spending.
And on top of that, of course, we won't get what people are hoping for for the 1.8 trillion.
You can forget, ladies and gentlemen, that you would get infrastructure or anything like that in return.
I'm going to do the simple math for you. So let's first subtract 500 billion from the
1.8 trillion, which will go towards armaments.
Armaments are not an investment, but rather armaments are state consumption, because tanks
are not suitable for producing other things.
And neither do drones, and neither do cartridges. You can only shoot them.
Yes, so this - they always call it investment - yes, we have to invest in our security and all that nonsense.
Yes, the best investment in our security would be to seek a good relationship with all our neighbors.
But then, in a fit of megalomania that we haven't had since the times of Adolf and Wilhelm, they have taken on everyone.
So you call the Chinese president a dictator, the Russian president anyway, the American president, all the things that
have been thrown at him in the mistaken belief that he would never become president. I don't even want to list that here.
We're really messing with everyone. And then we seem to need, somehow we have to spend money on security now that
we would never have had to spend if we hadn't done that.
So that's government consumption. That leaves 1.3 trillion.
Of this 1.3 trillion, 300 billion will probably not go into investments, but into refugee costs.
It has already been announced that the federal states will now help themselves from this pot in order to continue
financing migration, which has become absolutely unfinanceable.
Yes, that leaves one trillion. Half of these trillions will probably flow into so-called climate investments and
the other half into genuine infrastructure investments.
The climate investments, ladies and gentlemen, are completely wasted, because where 1,000 wind turbines produce no
electricity when there is no wind, 10,000 wind turbines produce how much electricity when there is wind? So that won't work.
So the rule of three, Mr. Habeck can't do it and apparently neither can Mr. Merz.
But as I said, where 1,000 wind turbines produce nothing, 10,000 also produce nothing.
So multiplying by zero means zero, ladies and gentlemen.
So, these 500 billion will continue to be spent on wasteful investments and investments that
do not pay off. The biggest misallocation ever.
This is all stuff that we will have to tear down later at great cost, because nobody will be able
to do anything with it once this madness is over.
That leaves 500 billion for real infrastructure investments. But the state is the worst buyer of all.
When the state puts up a building somewhere, it always costs two to three times as much per
square meter than when private individuals do it.
In other words, we will, and this applies to everything, to roads, bridges, buildings, hospitals, schools, no
matter what the state builds, it will always be twice as expensive as when private companies do it.
And the result will be that we will only get infrastructure worth 250 billion for this 500 billion.
And if we now consider that this huge demand, which the state wants to unleash, is now coming up against a run-down
construction industry, which has shrunk by half as a result of Mr. Habeck's heating law, because he destroyed the real estate
market and thus drove an incredible number of construction companies into bankruptcy, then this
huge demand will now meet a restricted supply.
And what happens in such a situation? Prices rise.
In other words, we won't get infrastructure for 250 billion, we might get it for 150 billion.
But then we have 150 billion for infrastructure, supposedly the gap for the railroads alone is 100 billion, so what's left?
50 billion, while we spend 50 billion on development aid and 15 billion on NGOs? The ratios are no longer right.
Ladies and gentlemen, you are being provided with 1.8 trillion in debt.
Your children and grandchildren will still be paying for them, longer than for Versailles.
And in return, Mr. Merz will provide you with infrastructure worth 150 billion, or a
maximum of 200 billion. That is what will happen.
Good for the economy, my ass. This is the biggest robbery ever perpetrated on the German people.
Krissy Rieger: That's how I see it too. And you said that the next generations will pay it off. What's the plan?
After all, there are discussions about using people's savings, perhaps property taxes. How can all this be paid back?
Markus Krall: Well, repayment will be an interesting thing. A large part of the repayment will be through inflation.
This means that citizens who have invested their money in government bonds and in nominal assets, i.e. life
insurance policies, pension insurance policies, savings books, etc., or in cash, will be expropriated through inflation.
And how will that happen? You can't raise this money on the capital market in such
quantities without massive interest rate hikes.
Sorry.
So with intermediaries like BlackRock, which will make a fortune out of it, by the way, they will buy up
these bonds directly from the Federal Republic of Germany.
And then BlackRock will sell them on to the ECB. At a premium, of course.
This means that BlackRock will press two buttons each time, namely buy and sell. And it is then passed on to the ECB.
And in return, we can earn billions risk-free, without any effort, by pressing two buttons.
That is what will happen. That's why BlackRock thinks it's so great.
And that's why Mr. Merz, as former head of BlackRock Europe or Chairman of the Supervisory
Board of BlackRock Europe, thinks it's so great.
So his former employer Larry Fink is already rubbing his hands in glee.
Of course, he is also a major shareholder in the entire defense industry.
In other words, those who will benefit from this raid.
That's how it looks. So where does Mr. Merz's loyalty lie?
Obviously not to the German people, to whom he told a tall tale about being a sound financial politician.
That's what's going to happen.
And the moment BlackRock buys up these huge quantities of bonds and sells them on to the ECB,
the ECB will buy them with freshly printed money.
And that will increase the money supply. And this increase in the money supply has an inflationary effect.
And when the money supply increases and the money is devalued, these 1.8 trillion will essentially be
recouped through the devaluation of life insurance policies, government bonds and savings accounts.
It is therefore taken directly from the citizen in this way.
There is no free lunch, ladies and gentlemen.
The state will always have to make citizens pay for everything it spends. There is no way around it.
Krissy Rieger: There are now the next tax debates. Because the CDU has actually promised, or Merz has
promised, that there will be more in the way of tax cuts.
But we can now see that this is unlikely to happen. How do you see it?
Will we ever see any tax being reduced in Germany and not ten new ones being added in the meantime?
Markus Krall: So not among this political class. That is also quite clear.
It doesn't matter how much money they give them.
They can raise taxes even further. You can run up even more debt. It will never be enough. It will never be enough.
The greed of this political class, the corruption of this political class is infinite.
No matter how much they give them, the greed will only increase. That is also easy to predict.
Therefore, with this political class there will be neither tax cuts, nor real relief, nor tax
simplification, nor any kind of reform, but there will be tax increases in combination with more debt.
And the money will be spent with full hands.
We have just been back in Syria and have once again left 300 million with the genocides that are now in power there.
So we are now financing the genocide of Alawites, Druze and Christians with our tax money.
That's what's happening. That has to be said in no uncertain terms.
I personally believe that it is aiding and abetting genocide and is punishable by law.
And that these people should all be brought to justice for supporting a genocidal regime in its bloody actions.
But that's another topic.
It will continue to be spent with full hands.
Anyone who believes that this is of course only due to the desire to spend does not know our corrupt political class.
I'm sure that most of our politicians have accounts in Dubai or somewhere else where kickbacks flow. They hand over a few hundred
million there and in return there are a few million in an account somewhere far away where the money laundering
regulations don't work and where you can do what you want.
And accordingly, I believe that what our political class is pulling off here is a
corrupt robbery scheme against the German people.
And in America, it has now emerged that a large proportion of the billions that have flowed into Ukraine,
for example, have gone back to Democratic politicians.
It was therefore a circular transaction at the expense of third parties, namely the American taxpayer.
If it's any different in Germany, I'll eat a broom with the handle.
Krissy Rieger: What future, this is my final question, what future do you expect for Germany in five years' time?
Markus Krall: I think that in five years' time, we will be in a better future than we are now.
In the meantime, however, we will experience a mega-disaster into which Mr. Merz will lead this country, because he
is determined to become chancellor by the grace of the left, yes? After all, that is his lifelong dream.
Sorry.
And the policy he is now pursuing will therefore lead to disaster on all fronts in the truest sense of the word.
On the economic front, this will lead to massive deindustrialization, to a massive exodus of companies.
I'm hearing it now when you talk to recruitment consultants who are placing managers who have been made redundant.
I recently had a few conversations with friends who are in this business and they all told me that in the past, when they had
candidates, it was more likely that the candidates said, yes, I want to see how I can
improve here. I need the next step in my career,
And now it's the case that people are looking for work in anticipation of restructuring,
migration, closure, insolvency, the whole nine yards, yes?
In other words, on all fronts we will see companies either collapse or migrate, or
cut back their production and lay people off.
We already have the highest unemployment in 10 years, yes?
Unemployment is rising significantly, and it will accelerate, and bankruptcies have also continued to rise for three and a half
to four years, setting new records for bankruptcies every year.
The zombies are falling, as I announced a long time ago, yes?
The zombies are falling, and they are falling now, and they are falling in large numbers, and yes, this, this
economic crisis, will be exacerbated by Mr. Merz's policies.
Of course, if only enough money is paid out, there will be a fake boom for a few months, perhaps even a few quarters.
However, this will be compensated and overcompensated by the collapse of our export industry, firstly because we are no
longer competitive, and secondly because the Americans will reduce their government spending by three to five trillion.
So DOGE , the chainsaw is really getting into it,
and this, this reduction in American government spending will lead to a huge, huge contraction in American demand for
imports, and their demand for imports is our demand for exports.
And that will also reach China, where an adjustment crisis will also be triggered by the American measures, and if
China also shrinks, there will be no more demand from China.
In other words, it will culminate, all these effects will come together at the same time and then
the country will be facing the wall economically.
Thus, as experience shows, a political class that is economically up against the wall is ready to wage war.
I suspect that Mr. Merz will deliver Taurus missiles to the Ukraine with clearance, with
target clearance to Russia, even before the bang.
He is, I'll say it deliberately, unbounded enough not to use words that could be interpreted as insulting politicians.
And if one of these Taurus were to hit Moscow or even the Kremlin, I'm afraid the Russians would send us information on
which areas of Berlin and which factories in southern Bavaria, where the Taurus is produced, we could evacuate
in order to limit the human damage of the counter-attack.
Krissy Rieger: We'll jump straight into the current topic. What do you think of the
coalition agreement? What content worries you?
Ernst Wolff: So the big picture is actually worrying. The coalition agreement has two main focuses.
One is the upgrade and the other is digitalization.
And so, for me, the coalition agreement is nothing more than a carte blanche for BlackRock to dominate Germany even better.
You have to remember that the Bundeswehr has already really got going.
They have ordered F-35 fighter jets. These are being completed or produced by Lockheed Martin.
The main shareholders are BlackRock, Vanguard and State Street.
Then helicopters and submarines were ordered.
In the meantime, Mr. Merz has also said that he is in favour of the delivery of Taurus missiles to Ukraine.
Taurus missiles are manufactured by MBDA and Saab.
MBDA is a sub-company of Airbus, i.e. BAE Systems.
And of course, there are also the largest shareholders, including BlackRock.
As far as digitalization is concerned, we all know that the major digital groups all have BlackRock as their main investor.
And we all know that Mr. Merz was Chairman of the Supervisory Board of BlackRock Germany in
the years before 2020, i.e. from 2016 to 2020.
So the whole thing is nothing more than an invitation for BlackRock to continue the great redistribution in Germany.
The German citizens will pay and BlackRock will collect.
Ernst Wolff: We will experience the highest unemployment of all time, and in this legislative period.
We will see prices continue to go through the roof, as they have done so far. Especially in the food sector.
We will experience great instability. We are currently seeing the trade wars.
They do not exactly promote stability in the international economy; on the contrary.
And above all, we will experience one thing. We will experience a major redistribution from the bottom to the top.
So I just have to remind you, last Wednesday the billionaires in the world experienced the biggest gain in a single day.
They gained 303 billion last Wednesday.
And not because the stock markets went up like that, but because they went down one day and up again the next.
And in this day and age, you can also earn quite well on falling share prices if you have the right advisors and the
right insider information. And these people obviously had that.
Krissy Rieger: That's all very, very, very, very heavy. And now you think that this is perhaps a personal
assessment, but Merz says it very, very clearly, he says that everything will now become more expensive.
Ernst Wolff: Yes, of course, that's absolutely unavoidable.
So we are going to experience a flood of money that is quite something.
In other words, even greater than after the global financial crisis of 2007 and 2008.
And that of course means that prices will rise dramatically.
As we know, this alleged special fund has now been brought into play.
The government has now also adopted this.
That's 500 billion in new debt. Of course, this has to be recovered somehow in the form of government bonds.
And that of course means that a lot more money is back in circulation and that the money itself is further devalued.
So we have to reckon with the fact that money will be heavily devalued in the near future.
According to Markus Krall and Ernst Wolff, German citizens will pay for a policy in favor
of BlackRock to a perhaps unprecedented extent.
But who is behind BlackRock, the world's largest asset manager with over USD 10 trillion?
Its clientele consists of institutions such as banks, foundations or state and pension funds and, above all, private investors.
These are the super-rich, such as the Rothschilds, Rockefellers or Warren Buffet.
BlackRock owes its rise to become the largest asset manager, for example, to a wealth transfer from
the Rothschilds of around 2.8 trillion US dollars.
The Rothschilds belong to the top of the world's high-grade Freemasonry.
Interestingly, Larry Fink, the founder and CEO of BlackRock, is also a High Degree Freemason
and a member of six powerful original lodges.
BlackRock can thus be identified as a tool of the financial mafia and global high-level freemasonry.
As already shown in the program "This conspiracy is destroying Germany" , Friedrich
Merz is also no simple henchman of this mafia.
His membership in a whole series of very influential organizations of the High Grade Freemasons shows
that he, just like the High Grade Freemason Olaf Scholz, is a front man of this criminal cartel.
His participation in the Bilderberg Conference 2024 even means that he is the chosen representative of the
financial mafia of high-degree freemasonry in Germany.
A task that he is now apparently tackling with all determination and to the great detriment of the German population.
As the debt package only serves their interests, it must also be declared another crime of this
cartel, which is raging like a cancer among humanity.
In addition, in the program "The Agenda of the Great Reset - Economic Destruction and War" it was explained that Germany and
the EU have been deliberately destroyed economically for almost ten years now by the policies steered by the high-grade
Freemasons and possibly also led directly into a war with Russia.
The aim of these criminals is not just looting, but the "Great Reset" proclaimed by the high-grade Freemason
and founder of the World Economic Forum WEF Klaus Schwab.
This, in turn, is intended to establish a new world order with a one-world government in which
economically strong and sovereign states have no place.
From this perspective, the debt package with its catastrophic consequences for Germany and the financial stability
of the entire eurozone takes on a completely new dimension.
Obviously, Friedrich Merz, together with the SPD, is not only seamlessly continuing the destructive work of the
previous government, but is even accelerating it to the point of economic collapse and Germany's total over-indebtedness.
As documented by the revelations of whistleblower John Perkins , such a development in turn opens the door for further robberies,
triggering a veritable spiral of impoverishment and ultimately bringing countries completely under the rule of this
criminal cartel or preparing them for their "Great Reset".
But how and by what means can these destructive plans be stopped - by Donald Trump, another savior or new
political parties? Listen to Ernst Wolff in conclusion:
Krissy Rieger: And yet people say, well, we have Milei and we have Trump. And whoever you want to put on that list as a savior.
And now we are talking about the fact that this is not the case at all, that what they are
doing is not at all positive for the majority.
What would you say is the hope for the masses?
Ernst Wolff: Yes, the bearer of hope is the great masses themselves. It's the people themselves.
So everyone must know that there is no one who will save us except ourselves.
And in order to save ourselves, we first have to understand what is happening around us.
And that's why it's so important to deal with these things and not bury your head in the sand.
And above all, not just running after anyone with blinkers on.
So the people who are in power at the moment, I mean, you really don't need to take a second look.
These are people who wallow in prosperity.
So Donald Trump is one of the hundred richest people in the world. Milei also lives a life of luxury.
So people are constantly enriching their friends, their cronies.
And to expect such people to somehow drop a crumb on your plate from time to time is, of
course, a completely wrong approach to life.
So you have to say that the world really is in a state of emergency, which is also very, very dangerous.
Because we know that there is fighting everywhere. We also know that social inequality is
exploding to an unimaginable extent at the moment.
We know that we are facing a huge wave of unemployment.
And we need to prepare for these times.
And no one is going to help us from the outside; we have to rely 100 percent on ourselves.
Krissy Rieger: Exactly. And especially when you think about the fact that the system works in such a way that it trains us not to
ask any questions or, let me say, only to ask the right questions and not to think so much outside
the box and, above all, to simply remain passive.
And all this according to the motto, hey, he'll do it, I'll wait and see.
And this waiting then leads us into what feels like a dictatorship.
And then you wake up and think to yourself, how did that happen? I don't know, was I there?
Ernst Wolff: Yes, the problem is that this inactivity is perceived by others as acquiescence.
So if the people, if the people remain inactive, then the powerful simply carry on.
Jean-Claude Juncker of the EU, the then President of the Commission, formulated this wonderfully.
He said we would just go as far as people would allow us to go.
And when people get up, we take a step back and then we move on again.
And people, as long as people don't do anything, we see that as condoning what we do.
Krissy Rieger: Yes, you summarized it really nicely. Thank you. And above all, thank you for all the information.
You can slowly build up a picture of the whole situation.
And above all, I think it's always like a kick in the backside that you say, okay, this far and
no further. That's enough for me. No. Thank you.
Ernst Wolff: Thank you.
If this program has given you food for thought, don't keep it to yourself.
Help spread these facts and encourage others to think about the consequences of the debt package.