Category Archives: Financial Crisis

Global Economic War Is Coming And The Threat To The US Dollar Is Real

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By Brandon Smith

Source: Alt-Market.us

In a recent statement posted to social media, Tucker Carlson explained succinctly his many reasons for traveling to Russia to interview President Vladimir Putin. His decision, mired in an avalanche of outrage from leftist media talking heads and a multitude of western politicians, was inspired by Carlson’s concern that Americans have been misdirected by corporate propaganda leaving the public completely uneducated on the war in Ukraine and what tensions with the East might lead to.

I agree. In fact, I don’t think the majority of Americans have a clue what the real consequences of a global war with Russia and its allies would look like. Even if the conflict never resulted in shots fired and stayed confined to the realm of economic warfare, the US and most of Europe would be devastated by the effects.

Carlson specifically mentioned dangers to the status of the US dollar, and I suspect this comment probably mystified a great number of people. Most of the population cannot fathom the idea of a US dollar implosion set in motion by a foreign dump of the greenback as the world reserve currency. They really do believe the dollar is invincible.

The most delusional people are, unfortunately, those within mainstream economic circles. They just can’t seem to grasp that the west is in the midst of financial collapse already, and war would accelerate the effects to levels not seen since the Great Depression.

I have been warning about this outcome for many years. I think I have made my position clear in the past; I suspect the conflict between east and west has been carefully engineered over the course of a decade or more, and Russia is not innocent in this affair.

Russia has consistently collaborated with globalist institutions including the International Monetary Fund in the effort to create a new “global reserve currency system.” In other words, the interests of Russia and the globalists do indeed intersect in a number of ways and the war in Ukraine has not necessarily changed that.  Time Magazine even complained last year about the IMF issuing positive reports about Russia’s economy – They thought the organization was going to repeat the false NATO narrative that Russia was in the midst of fiscal implosion.  Instead, the IMF essentially praised Russia’s resiliency in the face of sanctions.

As I noted in 2014 in my article ‘False East/West Paradigm Hides Rise Of Global Currency’ in reference to the burgeoning war with Ukraine.

“I would remind pro-Putin cheerleaders that Putin and the Kremlin first pushed for the IMF to take control of the Ukrainian economy, and the IMF is now demanding that Ukraine fight Russia in exchange for financial support. This might seem like irony to more foolhardy observers; but to those who are aware of the false East/West paradigm, it is all the part of a greater plan for consolidation of power.”

I also argued that:

“I have warned for quite some time that the development of East/West tensions would be used as a cover for a collapse of the dollar system. I have warned that among the American media this collapse would be blamed on an Eastern dump of foreign exchange reserves and treasuries, resulting in a global domino-effect ending U.S. world reserve status.”

From the moment Ukrainian President Viktor Yanukovych was deposed (many argue that this was done with the help of western intel agencies) the agenda for WWIII was set in motion. Both sides seemed to create the circumstances by which a conflagration was unavoidable.

Russia, strangely, supported the intervention of the IMF to secure Ukraine’s economy. The IMF then asserted that Ukraine would have to fight Russia to keep control of the Donbas or risk losing the financial aid that was keeping the country alive. Is this irony, or is there something else going on here?

NATO started arming Ukraine, and Ukraine used those arms to slaughter civilians in the Donbas. The eastern population wanted to join with Russia, and Ukraine had no intention of allowing this (IMF funding was on the line). In the meantime, the government began openly discussing the official inclusion of Ukraine into NATO. Russia then invaded, taking the Donbas. Now the entire region is a powder keg and both sides are ready to light the fuse.

But let’s look at this situation as if there was no globalist involvement in facilitating the crisis, just for a moment as an exercise in critical thinking…

If I had to pick a side that is “more right” in their position, it would have to be Russia, but not for the reasons many leftists might imagine when conservatives defend Russia.  The bottom line is that the left blindly follows establishment dictates while the rest of us are at least willing to look at the situation from both sides (which is the same thing Tucker Carlson is doing, and he’s being accused of treason for it).

Imagine if China was working to create a military alliance with Mexico with the potential for the Chinese military to stage long range weapons and soldiers on the American southern border? Imagine the chaos that this would cause in the US (maybe they would finally secure the border)? That’s what Russia was facing with Ukraine. Hell, America almost initiated global nuclear war when the Soviets staged missiles in Cuba in 1962. Military operations so close to the borders of major national powers are not a joke.

This was exact rationale for the war on Ukraine cited by Putin in his discussion with Tucker Carlson, and it makes sense.  Again, if we look at the events without the prospect of globalist interference.  But what if we start to consider who benefits the most from this war?

I certainly don’t trust Putin, but that doesn’t negate the Orwellian behavior of European and American political leaders. There is something going on here beyond the typical mechanisms of geopolitical brinkmanship. The conflict has wide ranging consequences and only serves the goals of a select group of elites.  I suspect elements of both Russia and NATO governments are either knowingly or unwittingly serving these interests.

It is undeniable. It is a verifiable reality – Many of our political leaders and elitist institutions are corrupt beyond comprehension. They are seeking an authoritarian reformation, a “great economic reset” and they are triggering multiple conflicts around the world. We saw the mask come off during covid. These people are not merely misguided; they are monsters, and they are hungry. It’s not beyond them to conjure a worldwide calamity and sacrifice the west like a goat on the altar to get the total centralization they desire.

The East/West paradigm plays into this plan perfectly. The BRICS nations are poised to drop the dollar as world reserve; some have already done so in bilateral trade. Make no mistake, if the conflict in Ukraine (and other parts of the world like Syria or Iran) continues to escalate nations like China will move to dump their dollar holdings just as Russia did. As the largest importer/exporter in the world, many countries would follow China’s lead and shift into a basket of currencies instead of the dollar for international trade.

What does this mean?

The dollar, which has been hyperinflated through more than a decade of Federal Reserve QE money printing, has continued to remain stable only because it is the world reserve and the petro-currency. Foreign banks hold trillions in US currency in overseas coffers for this very reason. With the loss of reserve status, an endless river of dollars will then flood back into the US as foreign investors diversify away from the Fed note. Result? Massive inflationary collapse.

This is what’s at stake. This is what Tucker Carlson was referring to, and far too many in America just don’t get it. Globalists benefit because this is what they have been working towards for decades – The deconstruction of US society and the economy so that the “old world order” can be replaced with their “new world order” of Central Bank Digital Currencies.  An IMF one-world currency basket and a host of other highly unpleasant socialist changes would swiftly follow.

The BRICS might be working with the IMF because they see the dethroning of the dollar as an opportunity to gain greater influence over international trade.  Or, maybe they are controlled opposition and they are scrambling for a seat at the NWO table.  In the end, the fall of the dollar would be a watershed moment for the formation of a global currency system.

And the best part for globalists is, they will be seen as the “heroes” when it’s all over. They spent the better part of the last century setting up America for economic failure through their devaluation of the dollar and the creation of a national debt trap. The system was going to break anyway, but now they can divert all blame to war and the “arrogance of nation states” and then come to the rescue with their dystopian digital money.

An east/west conflict opens the door to the Great Reset.  It is, in a lot of ways, the core of the Reset.  Everything in the new world order agenda relies on it.  Right now, the only thing holding back the tide is the public’s general refusal to fight. No one is interested in going overseas to die in a meaningless battle for Ukraine (Zelensky is truly delusional if he thinks Americans will shed blood in his trenches – Even a draft would be an utter failure). No one is interested in starting WWIII, whether it be nuclear or just economic.

I think the establishment’s outrage over Tucker Carlson interviewing Putin is based on their fear that western audiences are already skeptical of the motives behind the conflict and an unfiltered discussion on the war might galvanize this feeling.  The notion of war is becoming harder and harder for the establishment to sell.

This, however, does not negate the ability of NATO or Russia in expanding the crisis beyond Ukraine into other regions or into financial subterfuge (again, keep your eyes on Syria and Iran). Ultimately, they want us to choose sides, but only from the list of sides they approve. Liberty minded groups in the west need to choose our OWN side and fight for our own interests. It can’t be about NATO vs Russia, it has to be about free people vs the globalists. This is the only way these disaster events will ever end.

The Global Deep State: A Fascist World Order Funded by the American Taxpayer

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By John & Nisha Whitehead

Source: The Rutherford Institute

“The madmen are in power.”— Philip K. Dick, The Man in the High Castle

The debate over U.S. foreign aid is a distraction.

That’s not to say that the amount of taxpayer money flowing to foreign countries in the form of military and economic assistance is insignificant. Even at less than 1% of the federal budget, the United States still spends more on foreign aid than any other nation.

The latest foreign aid spending bill includes $95 billion for Ukraine, Israel and Taiwan.

Since World War II, the U.S. has given more foreign aid to Israel than any other country ($318 billion), with the bulk of those funds designated for Israel’s military efforts.

Even so, more than 150 countries around the world receive U.S. taxpayer-funded assistance.

As Forbes reports, “U.S. foreign aid dwarfs the federal funds spent by 48 out of 50 state governments annually. Only the state governments of California and New York spent more federal funds than what the U.S. sent abroad each year to foreign countries.”

Whether or not that some of that foreign aid is used for legitimate purposes, the global welfare system itself is riddled with corruption and waste. As Adam Andrzejewski rightly asks, “Do taxpayers instinctively know that they are funding choir directors in Turkmenistan, filmmakers in Peru, aid for poultry farmers Tanzania, and sex education workshops for prostitutes in Ethiopia?”

The problem is not so much that taxpayers are unaware of how their hard-earned dollars are being spent. Rather, “we the people” continue to be told that we have no say in the matter.

We have no real say in how the government runs, or how our taxpayer funds are used, but that doesn’t prevent the government from fleecing us at every turn and forcing us to pay for endless wars that do more to fund the military industrial complex than protect us, pork barrel projects that produce little to nothing, and a police state that serves only to imprison us within its walls.

This financial tyranny persists whether it’s a Democrat or Republican at the helm.

At a time when the government is spending money it doesn’t have on programs it can’t afford, the national debt continues to grow, our infrastructure continues to deteriorate, and our borders continue to be breached.

What is going on?

The “government of the people, by the people, for the people” has been overtaken by a shadow government—a corporatized, militarized, entrenched global bureaucracy—that is fully operational and running the country.

This powerful international cabal made up of international government agencies and corporations—let’s call it the Global Deep State—is just as real as the corporatized, militarized, industrialized American Deep State, and it poses just as great a threat to our rights as individuals under the U.S. Constitution, if not greater.

Clearly, we have entered into a new world order: fascism on a global scale.

It remains unclear whether the American Deep State (“a national-security apparatus that holds sway even over the elected leaders notionally in charge of it”) answers to the Global Deep State, or whether the Global Deep State merely empowers the American Deep State. However, there is no denying the extent to which they are intricately and symbiotically enmeshed and interlocked.

Consider the extent to which our lives and liberties are impacted by this international convergence of governmental and profit-driven corporate interests in the surveillance state, the military industrial complex, the private prison industry, the intelligence sector, the security sector, the technology sector, the telecommunications sector, the transportation sector, and in recent years, the pharmaceutical-health sector.

All of these sectors are dominated by mega-corporations operating on a global scale and working through government channels to increase their profit margins. The profit-driven policies of these global corporate giants influence everything from legislative policies to economics to environmental issues to medical care.

Global Disease

The COVID-19 pandemic propelled us into a whole new global frontier in which those hoping to navigate this interconnected and highly technological world of contact tracing, vaccine passports and digital passes find themselves grappling with issues that touch on deep-seated moral, political, religious and personal questions for which there may be no clear-cut answers.

Our ability to access, engage and move about in the world has now become dependent on which camp we fall into: those who have been vaccinated against whatever the powers-that-be deem to be the latest Disease X versus those who have not.

This is what M.I.T. professor Ramesh Raskar refers to as the new “currency for health,” an apt moniker given the potentially lucrative role that Big Business (Big Pharma and Big Tech, especially) will play in establishing this pay-to-play marketplace. The airline industry has been working on a Travel Pass. IBM is developing a Digital Health Pass. And the U.S. government has been all-too-happy to allow the corporate sector to take the lead.

“It is the latest status symbol. Flash it at the people, and you can get access to concerts, sports arenas or long-forbidden restaurant tables. Some day, it may even help you cross a border without having to quarantine,” writes Heather Murphy for the New York Times. “The new platinum card of the Covid age is the vaccine certificate.”

Global Surveillance

Spearheaded by the National Security Agency, which has shown itself to care little for constitutional limits or privacy, the surveillance state has come to dominate our government and our lives.

Yet the government does not operate alone. It cannot. It requires an accomplice. Thus, the increasingly complex security needs of our massive federal government, especially in the areas of defense, surveillance and data management, have been met within the corporate sector, which has shown itself to be a powerful ally that both depends on and feeds the growth of governmental bureaucracy.

Take AT&T, for instance. Through its vast telecommunications network that crisscrosses the globe, AT&T provides the U.S. government with the complex infrastructure it needs for its mass surveillance programs. According to The Intercept:

“The NSA considers AT&T to be one of its most trusted partners and has lauded the company’s ‘extreme willingness to help.’ It is a collaboration that dates back decades. Little known, however, is that its scope is not restricted to AT&T’s customers. According to the NSA’s documents, it values AT&T not only because it ‘has access to information that transits the nation,’ but also because it maintains unique relationships with other phone and internet providers. The NSA exploits these relationships for surveillance purposes, commandeering AT&T’s massive infrastructure and using it as a platform to covertly tap into communications processed by other companies.”

Now magnify what the U.S. government is doing through AT&T on a global scale, and you have the “14 Eyes Program,” also referred to as the “SIGINT Seniors.” This global spy agency is made up of members from around the world (United States, United Kingdom, Australia, Canada, New Zealand, Denmark, France, Netherlands, Norway, Germany, Belgium, Italy, Sweden, Spain, Israel, Singapore, South Korea, Japan, India and all British Overseas Territories).

Surveillance is just the tip of the iceberg when it comes to these global alliances, however.

Global War Profiteering

War has become a huge money-making venture, and America, with its vast military empire and its incestuous relationship with a host of international defense contractors, is one of its biggest buyers and sellers.

The American military-industrial complex has erected an empire unsurpassed in history in its breadth and scope, one dedicated to conducting perpetual warfare throughout the earth. For example, while erecting a security surveillance state in the U.S., the military-industrial complex has perpetuated a worldwide military empire with American troops stationed in 177 countries (over 70% of the countries worldwide).

Although the federal government obscures so much about its defense spending that accurate figures are difficult to procure, we do know that since 2001, the U.S. government has spent more than $1.8 trillion in the wars in Afghanistan and Iraq (that’s $8.3 million per hour). That doesn’t include wars and military exercises waged around the globe, which are expected to push the total bill upwards of $12 trillion by 2053.

The illicit merger of the global armaments industry and the Pentagon that President Dwight D. Eisenhower warned us against more than 50 years ago has come to represent perhaps the greatest threat to the nation’s fragile infrastructure today. America’s expanding military empire is bleeding the country dry at a rate of more than $15 billion a month (or $20 million an hour)—and that’s just what the government spends on foreign wars. That does not include the cost of maintaining and staffing the 1000-plus U.S. military bases spread around the globe.

Incredibly, although the U.S. constitutes only 5% of the world’s population, America boasts almost 50% of the world’s total military expenditure,  spending more on the military than the next 19 biggest spending nations combined. In fact, the Pentagon spends more on war than all 50 states combined spend on health, education, welfare, and safety. There’s a good reason why “bloated,” “corrupt” and “inefficient” are among the words most commonly applied to the government, especially the Department of Defense and its contractors. Price gouging has become an accepted form of corruption within the American military empire.

It’s not just the American economy that is being gouged, unfortunately.

Driven by a greedy defense sector, the American homeland has been transformed into a battlefield with militarized police and weapons better suited to a war zone. President Biden, marching in lockstep with his predecessors, has continued to expand America’s military empire abroad and domestically in a clear bid to pander to the powerful money interests (military, corporate and security) that run the Deep State and hold the government in its clutches.

Global Policing

Glance at pictures of international police forces and you will have a hard time distinguishing between American police and those belonging to other nations. There’s a reason they all look alike, garbed in the militarized, weaponized uniform of a standing army.

There’s a reason why they act alike, too, and speak a common language of force: they belong to a global police force.

For example, Israel—one of America’s closest international allies and one of the primary yearly recipients of more than $3 billion in U.S. foreign military aid—has been at the forefront of a little-publicized exchange program aimed at training American police to act as occupying forces in their communities. As The Intercept sums it up, American police are “essentially taking lessons from agencies that enforce military rule rather than civil law.”

This idea of global policing is reinforced by the Strong Cities Network program, which trains local police agencies across America in how to identify, fight and prevent extremism, as well as address intolerance within their communities, using all of the resources at their disposal. The cities included in the global network include New York City, Atlanta, Denver, Minneapolis, Paris, London, Montreal, Beirut and Oslo.

The objective is to prevent violent extremism by targeting its source: racism, bigotry, hatred, intolerance, etc. In other words, police—acting as extensions of the United Nations—will identify, monitor and deter individuals who exhibit, express or engage in anything that could be construed as extremist.

Of course, the concern with the government’s anti-extremism program is that it will, in many cases, be utilized to render otherwise lawful, nonviolent activities as potentially extremist.

Keep in mind that the government agencies involved in ferreting out American “extremists” will carry out their objectives—to identify and deter potential extremists—in concert with fusion centers (of which there are 78 nationwide, with partners in the private sector and globally), data collection agencies, behavioral scientists, corporations, social media, and community organizers and by relying on cutting-edge technology for surveillance, facial recognition, predictive policing, biometrics, and behavioral epigenetics (in which life experiences alter one’s genetic makeup).

This is pre-crime on an ideological scale and it’s been a long time coming.

Are you starting to get the picture now?

The government and its global partners have struck a deal that puts the American people on the losing end of the bargain.

On almost every front, whether it’s the war on drugs, or the sale of weapons, or regulating immigration, or establishing prisons, or advancing technology, or fighting a pandemic, if there is a profit to be made and power to be amassed, our freedoms are being eroded while the Global Deep State becomes more entrenched.

We’ve been losing our freedoms so incrementally for so long—sold to us in the name of national security and global peace, maintained by way of martial law disguised as law and order, and enforced by a standing army of militarized police and a political elite determined to maintain their powers at all costs—that it’s hard to pinpoint exactly when it all started going downhill, but we’re certainly on that downward slope now, and things are moving fast.

Given the dramatic expansion, globalization and merger of governmental and corporate powers, we’re not going to recognize this country 20 years from now.

As I make clear in my book Battlefield America: The War on the American People and in its fictional counterpart The Erik Blair Diaries, the U.S. government will not save us from the chains of the Global Deep State. It’s too busy selling us to the highest bidder.

How to Navigate Our Low-Trust, Increasingly Dysfunctional Society and Economy

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By Charles Hugh Smith

Source: Of Two Minds

Politicians and corporate managers have an enviable record of self-enrichment but very little to show in terms of putting the long-term interests of the citizenry above their own short-term gains.

This week’s focus is on self-reliance, a topic of increasing relevance than is more complex that it may seem.

Sociologists differentiate between high-trust and low-trust societies: in high-trust social orders, citizens tend to trust institutions and each other to conform to social norms, enabling strangers to trust a vast circle of transactions and socio-economic ties. Low-trust societies are plagued with distrust of authority and institutions and fear of getting taken advantage of by strangers, so the circles of trust are small, inhibiting social mobility and economic growth.

Economies and political systems can also be understood as high-trust or low-trust. If the political system excels at rewarding insiders and incumbents while leaving critical problems unsolved, citizens have little reason to trust the system.

The same is true of economies that greatly enrich insiders and incumbents at the expense of the citizenry via monopoly/cartel price-gouging, shrinkflation, degrading the quality of goods and services and the immiseration of standard services, forcing customers to “upgrade” from wretched to merely dismal.

Conventional pundits and economists are constantly whining that Americans “just don’t get it”: they tout our soaring per capita wealth, i.e. we’re getting richer, so everyone should be delighted, yet only 20% of the public are “satisfied with the way things are going.”

What the well-compensated pundits and economists are ignoring (or are paid to ignore) is the decay of the U.S. from a high-trust-functional to a low-trust-dysfunctional society and economy: Americans will still go out of their way to aid strangers, but their trust in institutions has plummeted to lows, as has their trust in the political-corporate elites’ leadership: politicians and corporate managers have an enviable record of self-enrichment but very little to show in terms of putting the long-term interests of the citizenry above their own short-term gains.

People understand the name of the game now is to spout all the expected optimistic PR of “innovation” and “serving the public” while maximizing their private gain at the expense of the nation. Offshoring America’s essential industrial supply chains wasn’t done to serve the nation; it was done to maximize profits, 90% of which flow to the top 10%. Pushing us into debt servitude is highly profitable, but it isn’t benefiting us or the nation.

Americans were told to trust long, hyper-globalized single-source supply chains as “efficient” (i.e. profitable) and trustworthy, yet they’ve discovered these supply chains are vulnerable and fragile. Americans were told that corporate monopolies were selling them “innovations” when in fact they were being sold highly addictive (and therefore highly profitable) goods and services.

Americans were told that their financial security was increasing even as the U.S. economy became increasingly dependent on hyper-financialized asset bubbles and central bank bailouts, the precise opposite of stability. Rather than producing more financial security for the bottom 80%, these “innovations” greatly expanded the gulf between the wealthy and the increasingly precarious bottom 80%.

Americans were told to trust that the hyper-centralization of political and financial power would benefit them, when the evidence is piling up that this hyper-centralization has increased the dysfunction of core institutions and the fragility of essential systems.

Doesn’t it ring hollow to glorify our soaring wealth while households declare bankruptcy due to medical bills, college students sign up for a lifetime of debt servitude to pay tuition and inflation has destroyed 20% of every wage earner’s paycheck just since January 2020? All that “soaring wealth” is asymmetrically distributed, but let’s not talk about that, let’s talk about statistics that mask that asymmetry.

What the well-compensated pundits and economists are paid to ignore is the concentration of the vast majority of all this new wealth and income in the top 10%. Soaring wealth only widens wealth inequality; it doesn’t benefit the nation, it weakens its foundations by accelerating the decay of trust in core institutions and systems.

What happens when high-trust decays to low-trust is the circle of reliable, trustworthy sources and people shrinks to the local, decentralized level. Rather than trust Big Ag, Big Fast-Food and supply chains of highly processed glop to feed us, we start turning to local sources of real food.

In the same way, we rediscover the value of thinking for ourselves rather than accepting self-serving memes-of-the-day. We rediscover the value of what Ralph Waldo Emerson wrote about in his 1841 essay Self-Reliance (free text, Project Gutenberg).

Emerson counsels us to “be our best selves,” and not to count property wealth above all else. (“They measure their esteem of each other by what each has, and not by what each is.”)

Emerson understood that the values of a society are the foundation of its economic order. A system lacking any principles and values other than greed and self-enrichment is a rotten structure doomed to collapse. It is not just the larger socio-economic order that needs a rock-solid value system; each individual must ground their choices and actions in a value system they have embraced on their own. (“Nothing can bring you peace but yourself. Nothing can bring you peace but the triumph of principles.”)

What Emerson is espousing is self-reliance, in thought, in values, and in economic and financial matters. In today’s world of crumbling hyper-globalization, self-reliance extends to the practical world of where our essential goods and services are coming from.

Gordon Long and I discuss these and many other aspects of Self-Reliance in the 21st Century in our wide-ranging podcast Self Reliance (45 min).

We discuss how the American economy has changed over the past 40 years, to the detriment of the nation’s values and the security of its citizenry, and what self-reliance means today– the topic of my book Self-Reliance in the 21st Century. (Read the first chapter for free.)

How can we best navigate our low-trust, increasingly dysfunctional society and economy? By strengthening our own self-reliance.

Sickening Profits — The Global Food System’s Poisoned Food and Toxic Wealth

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By Colin Todhunter

Source: Off-Guardian

The modern food system is being shaped by the capitalist imperative for profit. Aside from losing their land to global investors and big agribusiness concerns, people are being sickened by corporations and a system that thrives on the promotion of ‘junk’ (ultra-processed) food laced with harmful chemicals and cultivated with the use of toxic agrochemicals.

It’s a highly profitable situation for investment firms like BlackRock, Vanguard, State Street, Fidelity and Capital Group and the food and agribusiness conglomerates they invest in. But BlackRock and others are not just heavily invested in the food industry. They also profit from illnesses and diseases resulting from the food system by having stakes in the pharmaceuticals sector as well. For them, it’s a win-win situation.

Lobbying by agrifood corporations and their well-placed, well-funded front groups ensures this situation prevails. They continue to capture policy-making and regulatory space at international and national levels and promote the (false) narrative that without their products the world would starve.

They are now also pushing a fake-green, ecomodernist agenda and rolling out their new proprietary technologies in order to further entrench their grip on a global food system that produces poor food, illness, environmental degradation, dependency and dispossession.

The prevailing globalised agrifood model is built on unjust trade policies, the leveraging of sovereign debt to benefit powerful interests, population displacement and land dispossession. It fuels export-oriented commodity monocropping and regional food insecurity.

This model is responsible for increasing rates of illness, nutrient-deficient diets, a narrowing of the range of food crops, chemical runoffs, increasing levels of farmer indebtedness and the eradication of biodiversity. And it relies on a policy paradigm that privileges urbanisation, global markets and agrifood corporations’ needs ahead of rural communities, local markets, on-farm resources and food sovereignty.

In addition, there are also the broader geopolitical aspects of food and agriculture in a post-COVID world characterised by food inflation, hardship and multi-trillion-dollar global debt.

There are huge environmental, political, social and health issues that stem from how much of our food is currently produced and consumed. A paradigm shift is required.

All of this is set out in Sickening Profits: The Global Food System’s Poisoned Food and Toxic Wealth (December 2023), published as an open-access (free) e-book by Global Research (it can be read directly on the Global Research website or downloaded as a pdf) and is a follow up to the author’s book Food, Dispossession and Dependency: Resisting the New World Order (2022).

That book contains substantial sections on the agrarian crisis in India and issues affecting the agriculture sector. Aruna Rodrigues — prominent campaigner and lead petitioner in the GMO Mustard Public Interest Litigation in the Supreme Court of India — stated the following about the book:

This is graphic, a detailed horror tale in the making for India, an exposé on what is planned, to hand over Indian sovereignty and food security to big business.”

‘Sickening Profits’ continues in a similar vein. By describing situations in Ukraine, India, the Netherlands and elsewhere, it is another graphic horror tale in the making that is being intensified across the globe. The question is: Can it be stopped?

Humanity Under Assault by the Elites – When Will We Have Had Enough?

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By Phil Butler

Source: New Eastern Outlook

“I speak of peace, therefore, as the necessary rational end of rational men. I realize that the pursuit of peace is not as dramatic as the pursuit of war–and frequently the words of the pursuer fall on deaf ears. But we have no more urgent task.” – John F. Kennedy

For most people, it’s difficult to imagine much of what’s happening today. And this is why so many seem in the dark about what we should do to alleviate our problems. Looking at the situation in which a proxy is being waged on Russia from Ukraine, nothing seems to add up. The same is true for the genocide now going on in Gaza. And when we superimpose problems like curing cancer and other diseases, environmental problems, and failing economies, the only thing we can see is that our leaders have failed miserably at prioritising. It’s also obvious that we, the people, are the farthest thing from their minds.

Regarding visualisation, there’s no bigger confusion than grasping just how much money the Western powers are shovelling into the war against Russia. So far, something like $233 billion has been donated to Ukraine. The top donors are the EU($90B) and the United States ($73B). Interestingly, most of the EU funding has been aimed at financial aid, while the US donates are mostly military aid. Neither the EU nor the US spent much on humanitarian aid, at least not by comparison. But then, humanitarian money does not go into the pockets of the elites, now does it? The arms companies and financial institutions seem to be leveraging this Ukraine mess for a return on assets. But that’s another story. Now, I’d like to compare spending on Ukrainian and Israeli wars against efforts that do help human beings.

Let’s look at one of humanity’s most dreaded killers: cancer. In total, global oncology spending in 2022 was $193 billion. The numbers are far more telling in key research, where funding often comes from philanthropy. The Lancet reported recently that some 66,388 awards with a total investment of about $24.5 funded research for 2016–20. And now these figures have nosedived. In 2020, there were 19.3 million cases and 10 million deaths from the dreaded disease.

If we look at how many people are starving on our planet, it’s appalling to think of billions thrown away on unwinnable wars for the sake of selling weapons. In 2021, U.N. World Food Programme Executive Director David Beasley said it would take an estimated $40 billion annually to end world hunger by 2030. Let’s think about that for a moment. Each day, 25,000 people, including more than 10,000 children, die from hunger and related causes. Envision the lost potential of all those children perishing, if you can. Beasley went on to etch the situation in stone with this statement:

“There is 400 trillion dollars’ worth of wealth on the earth today, and the fact that 9 million people die from hunger every year… Shame on us. In the height of COVID, billionaires’ net worth increase was $5.2 billion per day. At the same time, 24,000 people die per day from hunger. Shame on us. Every hour, the net worth of billionaires during the height of COVID was a substantial $216 million per hour. Yet 1000 people per hour were dying from hunger… Shame on us.”

Two-hundred-sixteen million dollars per hour! I’ll wager the vast majority of that wealth had nothing whatsoever to do with helping human beings, curing disease, or stopping the endless wars. Moving on, let’s look at the homeless/poverty situation worldwide. In 2021, there were 150 million homeless people worldwide. While so many people here in Greece and other countries in Europe strive to go live in the United States, few realise that over 18% of the people living in my country live below the poverty line. And no one wanting to become American realises that the overwhelming solution to poverty in my country is to punish and imprison the poor (Homelessness World Cup). Using only what’s been spent on Ukraine so far, the U.S. Government could have issued a check for $1,825 to each of the 40 million homeless people in the country. That’s two or even three months’ rent for all homeless people in the USA.

Even in highly developed countries like Germany, more than 14.8% of the people are living beneath the national poverty line. Interestingly, some Latin American countries equal or better poverty rate than North American or some European countries. Take Argentina as an example. The situation there is no worse than it is in the United States. In Chile, only 9% of the population lives in dire circumstances. Unbelievably, there are countries like Bangladesh, traditionally thought of as the world’s poorest countries, where less than 13% of the population lives below the poverty line. In Romania, 26% of the people live in extreme poverty, and in neighbouring Bulgaria, the rate is almost 24%.

Turning to more practical matters that bear on quality of life and efficiency, we find the United States of America ranks 13th out of 141 countries in overall infrastructure. What a stunning achievement for the richest (supposedly) country in the world! After all, how do we balance what a country’s wealth is? What is the negative value of a dangerous, rusty bridge or a pothole in a road so deep you can hear Chinese being spoken from its depths? How bad is 13th place? Well, the American Society of Civil Engineers estimated that it would take 50 years to complete only the necessary repairs on more than 46,000 deteriorated bridges in the country. Both the Trump and Biden administrations promised to pour more money into the problem, but so far the US of A is still crumbling. So that you understand, Spain, Singapore, South Korea, Japan, and eight other countries have better quality infrastructures than the US. Remember I mentioned at the beginning, prioritisation? Is it possible that the Spaniards are doing more to care for their own people than America? Does Spain start proxy wars on Russia’s borders? I do not see Spanish ships in the South China Sea provoking war.

Since we landed in Spain, let’s take a look at some interesting facts about their quality of life. For instance, the Spanish Constitution includes a right to housing. The reality of homelessness there is that less than 8.5% of the population is homeless, and most of those live in shelters. Spain ranked 27th out of OF 189 countries in the Human Development Index Rankings.  Romania was 49th, the USA was 17th, Chile 43rd, and South Korea was 23rd. For me at least, what is significant in these numbers is the wide disparity in position in a world that was supposed to be some globalisation miracle a couple of decades ago. Despite all the PR and belly-rubbing the people of Earth have received, things in most countries are just not getting better. And trillions are being spent on wars and corporate machinations that steal from our prosperity.

Returning to my thesis, we must add the humongous waste of money that has gone to the state of Israel, Saudi deals, and the new monies soon to flow in that direction simply to eradicate or force migrate the Palestinians. Before the current crisis, the Biden administration had pledged $14.3 billion in aid to Israel since the October 7th Hamas campaign against the Israelis began. But this figure is a bit misleading if we want to see just how massive the American sacrifice for Israel has been. Since World War II, the United States has given Israel more aid than any other nation, currently more than $260 billion. To wrap things up for this report, the U.N. says the conflict in Yemen is one of the world’s worst humanitarian crises. Saudi Arabia does not receive American aid through loans, grants, or gifts pegged for killing Yemenis. However, the US Accounting Office reported that between 2015 and 2021, the US Department of Defense supplied more than $54.6 billion in military support for the Saudis and the United Arab Emirates. Now, imagine what human strife could be alleviated with these hundreds of billions combined with the trillions spent on failed US wars across the globe.

For those who enjoy simple examples of what could be. There are over 33,000 homeless veterans who fought these wars for the United States. The billions in military support only for Saudi Arabia would be enough to gift each one of those vets $1.7 million. You do the math. What is being spent to kill millions of us, could save the millions being killed PLUS millions of others starving, wasting away, or swept away by disasters. Now you tell me when the time will be right to get out the torches and pitchforks.

Could America Have a French-Style Revolution?

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By Charles Hugh Smith

Source: Of Two Minds

Combine all these factors and the result is a potentially volatile mixture awaiting a catalyst.

In the past, I reckoned the odds of America experiencing a revolution akin to France 1789 were low due to the different political, economic and cultural conditions present then and now, but recently I’ve considered the possibility that America’s extremes of wealth, income and power inequality are a powder keg awaiting ignition.

By French-Style Revolution I don’t mean a violent overthrow of the ruling elite as much as a tumultuous reset of how resources and power are distributed. Systems become vulnerable to such resets when they become highly asymmetrical in how they distribute resources and power, and rigid in their defense of the extreme inequality of the distribution.

The fundamental source of democracy’s stability is the dynamic competition of various interests and the dynamic equilibrium of the three branches of the state each balancing the others by restraining the dominance of any one branch or interest.

But extremes of inequality undermine this stability, as the wealthiest elites now bring such a preponderance of wealth to bear that each of the three branches of the state are now beholden to the interests of the few, leaving little recourse to the many.

When the agenda and narratives have been shaped by the wealthiest elites’ foundations, think tanks, corporate PR and lobbyists, then electing different representatives has little effect on the power structure.

The masses can still influence cultural / social policies by voting in a liberal or conservative slate, but the distribution of wealth, power and resources remains unchanged.

As wealth and power are concentrated into ever fewer hands, the mythology of broad-based access to prosperity has vastly expanded the pool of second-tier elites who feel entitled (via implicit promises made by the system) to their fair share of income, wealth and power–financial security and political agency, i.e. a say in public decisions.

These second-tier elites are primarily university graduates and the offspring of upper-middle class households who have been led to expect a secure slot in the upper reaches of the economy or state is a birthright gained by their education and class.

That there are no longer enough slots for this class means those left out constitute the raw material of a potently dissatisfied and potentially angry political class. Historian Peter Turchin presents this as the result of the overproduction of elites, a dynamic he has traced back to previous eras of tumultuous upheaval.

Another common factor driving the masses to revolt is when the essentials of life are no longer affordable or available in sufficient quantity. Historian David Hackett Fischer has documented the perilous impact of inflation, i.e. the collapse of the purchasing power of wages.

Yet another potentially explosive factor is the supreme confidence of the wealthiest elites that the system they rule could ever turn against them or crumble beneath their feet–in a word, a hubris as extreme as their wealth and power. The resignation of the masses and the ease of distracting them with ginned-up controversies and crises and consumerist novelties has fed elite confidence that their supremacy is unassailable.

This hubris leads to the elite becoming tone-deaf to their own excesses and the instability their excesses are generating within the system, an instability that’s currently hidden beneath the resignation and distraction of the masses and the mute frustration of the second-tier elites facing lifetimes of insecurity.

Another factor is the promises made by the state generations ago can no longer be met without creating new money on a scale that guarantees destabilizing inflation. This new money is issued as Treasury bonds which are purchased for income by the wealthy, further exacerbating wealth and income inequality.

The power elite are incapable of demanding sacrifices of the wealthy as the prime directive of the status quo is to defend the current asymmetry of wealth and power. This undermines the collective consensus needed to take the collective action needed to reset the system.

Combine all these factors and the result is a potentially volatile mixture awaiting a catalyst. The confidence of the status quo that it is essentially omnipotent (the Federal Reserve will always save us, etc.) and eternal is itself a factor in the mix.

The key factor is the rigidity or flexibility of the power structure. If the structure is incapable of resetting to a more flexible, symmetric distribution of power as resources, it will come apart as pressures mount.

House Passes $886 Billion National Defense Authorization Act

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The bill extends Section 702 of FISA, which allows mass warrantless surveillance of Americans

By Dave DeCamp

Source: Antiwar.com

On Thursday, the House passed the $886 billion 2024 National Defense Authorization Act (NDAA), which funds the Pentagon and some military spending for other government agencies. The NDAA has already been passed by the Senate and now heads to President Biden’s desk.

The NDAA includes a provision to extend Section 702 of the Foreign Intelligence, which allows mass warrantless surveillance of Americans. US government agencies portray the law as designed to target foreigners outside of the US, but it allows the collection of any communications they have with Americans, including emails and text messages.

Section 702 was due to expire at the end of this year, but the NDAA extends it to April 19, 2024. According to Rep. Thomas Massie (R-KY), the House only needed 143 votes to strip the extension out of the NDAA, but only 118 House members voted “nay,” including 73 Republicans and 45 Democrats.

“Here are the 118 Representatives who voted to protect your right to privacy. (Nay to FISA warrantless surveillance as part of NDAA),” Massie wrote on X with a picture of the roll call. “We lost but it was close. We needed 143 votes (1/3) to stop FISA since they suspended the rules to bring it to the floor.”

The mammoth $886 billion NDAA is $28 billion more than what was approved last year. President Biden is seeking another $111 billion to fund military aid for Ukraine, Israel, and Taiwan on top of regular military spending, but Republicans are holding out until Democrats agree to a deal on significant changes to border policies.

The new NDAA includes several amendments to fund the US and allied military buildup in the Indo-Pacific that’s aimed at China. One amendment allows the Pentagon to transfer three nuclear-powered Virginia-class submarines to Australia as part of the AUKUS military pact the US, Britain, and Australia signed in 2021 to prepare for a future war with China.

When Shelter Becomes a Speculative Asset, Society Unravels

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By Charles Hugh Smith

Source: Of Two Minds

Does anyone really believe that the renunciation of massive, sustained stimulus of speculation in housing would leave housing valuations unchanged because valuations are solely the result of “shortages”?

Let’s begin by stipulating that speculation (i.e. gambling) is part of human nature. The role of regulations and policy is to limit the damage that gambling inevitably inflicts when “sure things” cliff-dive into losses.

In other words, where the speculative frenzy and money flows matters. When the South Sea Bubble expanded circa 1713-1720, this flood tide of speculative capital did not distort the cost of shelter and bread in England; it was limited to a purely financial marketplace of shares in the company. When the bubble imploded in 1720, the losses fell mostly on wealthy investors like Isaac Newton.

The same can be said of the speculative mania of the dot-com era: the bubble and collapse were limited to the tech sector and those participating in the sector and the speculative frenzy. The cost of rent and bread did not double due to the speculative bubble’s inflation or bursting.

In contrast, when speculation floods into shelter / housing, it fatally distorts the cost of housing non-speculators must pay. I say fatally because shelter, along with food, energy and water (the FEW resources), are essential to life. These are not discretionary things we can decide not to have. When the price of essentials soars due to speculation that only rewards the speculators at the expense of non-speculators, the fuse of social disorder is lit.

Anyone who believes policies that encourage the wealthy to hoard housing to the point that the bottom 80% (or the bottom 95% in some areas) cannot afford to buy a home are just peachy is overdosing Delusionol. The social consequences are severe and uncontainable once the worm turns.

Exhibit #1 in Shelter Becoming a Speculative Asset is a modest house in the San Francisco Bay Area that sold for $135,000 in mid-1996. By modest I mean small, old, and on a small lot in a neighborhood of other small lots and homes. (A screenshot of the Zillow history is below.)

Today the home’s value is estimated to be about ten times higher: $1.35 million. Let’s do some basic math to understand just how distorted this market has become.

The median household income in 1996 was about $39,000. For a house costing $135,000, this represents 3.5 ratio of income to housing, well within the traditional ratio of 4 to 1 (4 X income = cost of the home).

Median household income has almost doubled to $75,000, roughly in line with inflation according to the Bureau of Labor Statistics. According to the BLS, the house that cost $135,000 in July 1996 would now cost $264,000 when adjusted for inflation, and the $39,000 median income would be $76,000.

Let’s say the house appreciated above the rate of inflation to $300,000 today. That’s still within the 4 to 1 ratio of income to house cost (4 X $75,000 = $300,000.) So even though the house rose 2.2X in cost, it would still be affordable to a median household.

At a value of $1.35 million, a household would need to make $337,500 annually–an income that is in the top 5% of households–to buy the house today. In other words, an income that is 4.5 times the median household income is the minimum needed to buy this modest house.

The house is now worth 4.5 times what it would have been worth if it had appreciated well above inflation.

The conventional argument holds that this four-fold increase in housing costs is due solely to a shortage of housing. Let’s consider some data before concluding this is the only dynamic in play.

Chart #1: Case Shiller housing index: this chart shows two massive housing bubbles in the past 20 years.

Chart #2: Federal Reserve’s purchases of mortgage backed securities (MBS) to goose the housing market. The “housing shortage” argument claims the unprecedented Fed purchases of trillions of dollars of MBS is not correlated to the housing bubble, but this claim makes no sense: dropping mortgage rates to unprecedented lows while soaking up trillions of dollars in securitized mortgages was like injecting speculative crack cocaine into the housing market. Gosh, how did we survive without the Fed buying $2.5 trillion in mortgages?

Chart #3: the current housing bubble compared to the 2000-2006 housing bubble: today’s bubble is even more extreme than housing bubble #1.

Chart #4: housing per capita (per person) has reached a new high: if there’s such a severe shortage of housing, how can the housing per capita be at an all-time high? Population rose 4 million in the past 4 years while 5 million housing units were added–plus a pig-in-a-python of housing in the pipeline.

Chart #5: household net worth is $50 trillion above trend, the direct result of massive monetary and fiscal stimulus. Tens of trillions of dollars were borrowed into existence and pumped into so-called risk assets–assets such as housing that the wealthy buy for speculative appreciation.

Chart #6: total debt–private and public–soared from $20 trillion in 1996 to $95 trillion now. Is it merely coincidental that this is $55 trillion above the trendline of inflation, which would have placed total debt at $40 trillion today?

Chart #7: net worth of the top 1% households, which soared from 23% of all net worth to 32%: this 9% gain in the percentage of all household net worth represents a gain of $14 trillion above and beyond the $28.7 trillion in gains registered by the 23% they owned in 1990.

1990 total net worth: $21 trillion, 23% = $4.8 trillion; 2023 total net worth: $146 trillion, 23% = $33.5 trillion; $33.5 trillion – $4.8 trillion = $28.7 trillion.

This unprecedented bubble in housing valuations is due not to shortages but to decades of massive financial stimulus that incentivized speculative capital to flood into housing as a low-risk way to skim stupendous gains for creating zero gains in productivity. If you doubt this, then run this scenario and tell us what happens:

The Fed dumps its entire portfolio of mortgage backed securities and stipulates it will never buy any again. It also renounces all the other stimulus gimmicks that incentivized expansions of debt and speculation.

Does anyone really believe that the renunciation of massive, sustained stimulus of speculation in housing would leave housing valuations unchanged because valuations are solely the result of “shortages”? If so, there’s a little shack under the Brooklyn Bridge I’ll let you have for a couple of million. I’m sure the Airbnb rent will mint you millions.