The collapses of Silvergate and Silicon Valley Bank are like icebergs calving off from the Antarctic glacier. The financial analogy to the global warming causing this collapse of supporting shelving is the rising temperature of interest rates, which spiked last Thursday and Friday to close at 4.60 percent for the U.S. Treasury’s two-year bonds. Bank depositors meanwhile were still being paid only 0.2 percent on their deposits. That has led to a steady withdrawal of funds from banks – and a corresponding decline in commercial bank balances with the Federal Reserve.
Most media reports reflect a prayer that the bank runs will be localized, as if there is no context or environmental cause. There is general embarrassment to explain how the breakup of banks that is now gaining momentum is the result of the way that the Obama Administration bailed out the banks in 2008 with fifteen years of Quantitative Easing to re-inflate prices for packaged bank mortgages – and with them, housing prices, along with stock and bond prices.
The Fed’s $9 trillion of QE (not counted as part of the budget deficit) fueled an asset-price inflation that made trillions of dollars for holders of financial assets – the One Percent with a generous spillover effect for the remaining members of the top Ten Percent. The cost of home ownership soared by capitalizing mortgages at falling interest rates into more highly debt-leveraged property. The U.S. economy experienced the largest bond-market boom in history as interest rates fell below 1 percent. The economy polarized between the creditor positive-net-worth class and the rest of the economy – whose analogy to environmental pollution and global warming was debt pollution.
But in serving the banks and the financial ownership class, the Fed painted itself into a corner: What would happen if and when interest rates finally rose?
In Killing the Host I wrote about what seemed obvious enough. Rising interest rates cause the prices of bonds already issued to fall – along with real estate and stock prices. That is what has been happening under the Fed’s fight against “inflation,” its euphemism for opposing rising employment and wage levels. Prices are plunging for bonds, and also for the capitalized value of packaged mortgages and other securities in which banks hold their assets on their balance sheet to back their deposits.
The result threatens to push down bank assets below their deposit liabilities, wiping out their net worth – their stockholder equity. This is what was threatened in 2008. It is what occurred in a more extreme way with S&Ls and savings banks in the 1980s, leading to their demise. These “financial intermediaries” did not create credit as commercial banks can do, but lent deposits out in the form of long-term mortgages at fixed interest rates, often for 30 years. But in the wake of the Volcker spike in interest rates that inaugurated the 1980s, the overall level of interest rates remained higher than the interest rates that S&Ls and savings banks were receiving. Depositors began to withdraw their money to get higher returns elsewhere, because S&Ls and savings banks could not pay higher their depositors higher rates out of the revenue coming in from their mortgages fixed at lower rates. So even without fraud Keating-style, the mismatch between short-term liabilities and long-term interest rates ended their business plan.
The S&Ls owed money to depositors short-term, but were locked into long-term assets at falling prices. Of course, S&L mortgages were much longer-term than was the case for commercial banks. But the effect of rising interest rates has the same effect on bank assets that it has on all financial assets. Just as the QE interest-rate decline aimed to bolster the banks, its reversal today must have the opposite effect. And if banks have made bad derivatives trades, they’re in trouble.
Any bank has a problem of keeping its asset valuations higher than its deposit liabilities. When the Fed raises interest rates sharply enough to crash bond prices, the banking system’s asset structure weakens. That is the corner into which the Fed has painted the economy by QE.
The Fed recognizes this inherent problem, of course. That is why it avoided raising interest rates for so long – until the wage-earning bottom 99 Percent began to benefit by the recovery in employment. When wages began to recover, the Fed could not resist fighting the usual class war against labor. But in doing so, its policy has turned into a war against the banking system as well.
Silvergate was the first to go, but it was a special case. It had sought to ride the cryptocurrency wave by serving as a bank for various currencies. After SBF’s vast fraud was exposed, there was a run on cryptocurrencies. Investor/gamblers jumped ship. The crypto-managers had to pay by drawing down the deposits they had at Silvergate. It went under.
Silvergate’s failure destroyed the great illusion of cryptocurrency deposits. The popular impression was that crypto provided an alternative to commercial banks and “fiat currency.” But what could crypto funds invest in to back their coin purchases, if not bank deposits and government securities or private stocks and bonds? What is crypto, ultimately, if not simply a mutual fund with secrecy of ownership to protect money launderers?
Silicon Valley Bank also is in many ways a special case, given its specialized lending to IT startups. New Republic bank also has suffered a run, and it too is specialized, lending to wealthy depositors in the San Francisco and northern California area. But a bank run was being talked up last week, and financial markets were shaken up as bond prices declined when Fed Chairman Jerome Powell announced that he actually planned to raise interest rates even more than he earlier had targeted, in view of the rising employment making wage earners more uppity in their demands to at least keep up with the inflation caused by the U.S. sanctions against Russian energy and food and the actions by monopolies to raise prices “to anticipate the coming inflation.” Wages have not kept pace with the resulting high inflation rates.
It looks like Silicon Valley Bank will have to liquidate its securities at a loss. Probably it will be taken over by a larger bank, but the entire financial system is being squeezed. Reuters reported on Friday that bank reserves at the Fed were plunging. That hardly is surprising, as banks are paying about 0.2 percent on deposits, while depositors can withdraw their money to buy two-year U.S. Treasury notes yielding 3.8 or almost 4 percent. No wonder well-to-do investors are running from the banks.
The obvious question is why the Fed doesn’t simply bail out banks in SVB’s position. The answer is that the lower prices for financial assets looks like the New Normal. For banks with negative equity, how can solvency be resolved without sharply reducing interest rates to restore the 15-year Zero Interest-Rate Policy (ZIRP)?
There is an even larger elephant in the room: derivatives. Volatility increased last Thursday and Friday. The turmoil has reached vast magnitudes beyond what characterized the 2008 crash of AIG and other speculators. Today, JP Morgan Chase and other New York banks have tens of trillions of dollar valuations of derivatives – casino bets on which way interest rates, bond prices, stock prices and other measures will change.
For every winning guess, there is a loser. When trillions of dollars are bet on, some bank trader is bound to wind up with a loss that can easily wipe out the bank’s entire net equity.
There is now a flight to “cash,” to a safe haven – something even better than cash: U.S. Treasury securities. Despite the talk of Republicans refusing to raise the debt ceiling, the Treasury can always print the money to pay its bondholders. It looks like the Treasury will become the new depository of choice for those who have the financial resources. Bank deposits will fall. And with them, bank holdings of reserves at the Fed.
So far, the stock market has resisted following the plunge in bond prices. My guess is that we will now see the Great Unwinding of the great Fictitious Capital boom of 2008-2015. So the chickens are coming hope to roost – with the “chicken” being, perhaps, the elephantine overhang of derivatives fueled by the post-2008 loosening of financial regulation and risk analysis.
“Autocrats only understand one word: no, no, no. No you will not take my country, no you will not take my freedom, no you will not take my future… A dictator bent on rebuilding an empire will never be able to ease the people’s love of liberty. Brutality will never grind down the will of the free.”—President Biden
Oh, the hypocrisy.
To hear President Biden talk about the Russia’s aggression against Ukraine, you might imagine that Putin is the only dictator bent on expanding his military empire through the use of occupation, aggression and oppression.
Yet the United States is no better, having spent much of the past half-century policing the globe, occupying other countries, and waging endless wars.
What most Americans fail to recognize is that these ongoing wars have little to do with keeping the country safe and everything to do with propping up a military industrial complex that has its sights set on world domination.
War has become a huge money-making venture, and the U.S. government, with its vast military empire, is one of its best buyers and sellers.
American troops are stationed in Somalia, Iraq and Syria. In Germany, South Korea and Japan. In Saudi Arabia, Jordan and Oman. In Niger, Chad and Mali. In Turkey, the Philippines, and northern Australia.
Incredibly, America’s military forces aren’t being deployed abroad to protect our freedoms here at home. Rather, they’re being used to guard oil fields, build foreign infrastructure and protect the financial interests of the corporate elite. In fact, the United States military spends about $81 billion a year just to protect oil supplies around the world.
After 20 years of propping up Afghanistan to the tune of trillions of dollars and thousands of lives lost, the U.S. military may have finally been forced out, but those troops represent just a fraction of our military presence worldwide.
In an ongoing effort to police the globe, American military servicepeople continue to be deployed to far-flung places in the Middle East and elsewhere.
This is how the military industrial complex, aided and abetted by the likes of Joe Biden, Donald Trump, Barack Obama, George W. Bush, Bill Clinton and others, continues to get rich at taxpayer expense.
Yet while the rationale may keep changing for why American military forces are policing the globe, these wars abroad aren’t making America—or the rest of the world—any safer, are certainly not making America great again, and are undeniably digging the U.S. deeper into debt.
War spending is bankrupting America.
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.
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.
Having been co-opted by greedy defense contractors, corrupt politicians and incompetent government officials, America’s expanding military empire is bleeding the country dry at a rate of more than $32 million per hour.
Talk about fiscally irresponsible: the U.S. government is spending money it doesn’t have on a military empire it can’t afford.
Unfortunately, even if we were to put an end to all of the government’s military meddling and bring all of the troops home today, it would take decades to pay down the price of these wars and get the government’s creditors off our backs.
As investigative journalist Uri Friedman puts it, for more than 15 years now, the United States has been fighting terrorism with a credit card, “essentially bankrolling the wars with debt, in the form of purchases of U.S. Treasury bonds by U.S.-based entities like pension funds and state and local governments, and by countries like China and Japan.”
Unfortunately, the outlook isn’t much better for the spending that can be tracked.
A government audit found that defense contractor Boeing has been massively overcharging taxpayers for mundane parts, resulting in tens of millions of dollars in overspending. As the report noted, the American taxpayer paid:
$71 for a metal pin that should cost just 4 cents; $644.75 for a small gear smaller than a dime that sells for $12.51: more than a 5,100 percent increase in price. $1,678.61 for another tiny part, also smaller than a dime, that could have been bought within DoD for $7.71: a 21,000 percent increase. $71.01 for a straight, thin metal pin that DoD had on hand, unused by the tens of thousands, for 4 cents: an increase of over 177,000 percent.
That price gouging has become an accepted form of corruption within the American military empire is a sad statement on how little control “we the people” have over our runaway government.
Mind you, this isn’t just corrupt behavior. It’s deadly, downright immoral behavior.
Americans have thus far allowed themselves to be spoon-fed a steady diet of pro-war propaganda that keeps them content to wave flags with patriotic fervor and less inclined to look too closely at the mounting body counts, the ruined lives, the ravaged countries, the blowback arising from ill-advised targeted-drone killings and bombing campaigns in foreign lands, or the transformation of our own homeland into a warzone.
That needs to change.
The U.S. government is not making the world any safer. It’s making the world more dangerous. It is estimated that the U.S. military drops a bomb somewhere in the world every 12 minutes. Since 9/11, the United States government has directly contributed to the deaths of around 500,000 human beings. Every one of those deaths was paid for with taxpayer funds.
The U.S. military’s ongoing drone strikes will, I fear, spur yet more blowback against the American people.
The war hawks’ militarization of America—bringing home the spoils of war (the military tanks, grenade launchers, Kevlar helmets, assault rifles, gas masks, ammunition, battering rams, night vision binoculars, etc.) and handing them over to local police, thereby turning America into a battlefield—is also blowback.
James Madison was right: “No nation could preserve its freedom in the midst of continual warfare.” As Madison explained, “Of all the enemies to public liberty war is, perhaps, the most to be dreaded because it comprises and develops the germ of every other. War is the parent of armies; from these proceed debts and taxes… known instruments for bringing the many under the domination of the few.”
We are seeing this play out before our eyes.
The government is destabilizing the economy, destroying the national infrastructure through neglect and a lack of resources, and turning taxpayer dollars into blood money with its endless wars, drone strikes and mounting death tolls.
Clearly, our national priorities are in desperate need of an overhauling.
At the height of its power, even the mighty Roman Empire could not stare down a collapsing economy and a burgeoning military. Prolonged periods of war and false economic prosperity largely led to its demise. As historian Chalmers Johnson predicts:
The fate of previous democratic empires suggests that such a conflict is unsustainable and will be resolved in one of two ways. Rome attempted to keep its empire and lost its democracy. Britain chose to remain democratic and in the process let go its empire. Intentionally or not, the people of the United States already are well embarked upon the course of non-democratic empire.
This is the “unwarranted influence, whether sought or unsought, by the military-industrial complex” that President Dwight Eisenhower warned us more than 50 years ago not to let endanger our liberties or democratic processes.
Eisenhower, who served as Supreme Commander of the Allied forces in Europe during World War II, was alarmed by the rise of the profit-driven war machine that emerged following the war—one that, in order to perpetuate itself, would have to keep waging war.
As long as America’s politicians continue to involve us in wars that bankrupt the nation, jeopardize our servicemen and women, increase the chances of terrorism and blowback domestically, and push the nation that much closer to eventual collapse, “we the people” will find ourselves in a perpetual state of tyranny.
There is an element of inevitability in play, but it isn’t about central bank bailouts, it’s about Death Spirals and the collapse of unsustainable systems.
The vapid discussions about “soft” or “hard” landings for the economy are akin to asking if the Titanic’s encounter with the iceberg was “soft” or “hard:” either way, the ship was doomed, just as the global economy is doomed by The New Normal of Death Spirals and Speculative Frenzies.
Death Spirals are the inevitable result of entrenched interests clinging on to the status quo and thwarting any adaptation or evolution that might threaten or diminish their share of the swag–and that includes any real change because any consequential modification has the potential to upset the gravey train.
The status quo “solution” is to borrow and blow whatever sums are needed to satisfy every entrenched interest. Filling the federal slop-trough for all the hogs now requires borrowing a staggering $1.4 trillion every year, and billions more in municipal, county and state bonds (borrowing money via selling bonds) on the local level.
This borrow and blow strategy avoids any uncomfortable discipline and difficult trade-offs: everybody gets everything they demand.
This strategy looks “unsinkable” until the iceberg looms dead ahead. History suggests that fiscal and political discipline is eventually imposed by the real world in one fashion or another when diminishing returns enter a Death Spiral.
Any limit on debt is of course “impossible,” just as it was “impossible” for the Titanic to sink. But history is rather implacable in this regard. The self-serving hubris of “impossible” limits on largesse tend to collapse on contact with currency devaluation, structural inflation or a systemic crisis of legitimacy that sweeps away the entire worm-eaten facade of stability.
In other words, the entrenched interests benefitting from the status quo will continue to do what worked in the past until it all implodes. The pain of discipline and modest sacrifices is too great to bear, so let’s collapse the entire system.
Autocracies excel at Death Spirals because they eliminate dissent, transparency and competing nodes of power. Nobody’s left to push back on disastrous policy decisions, so autocratic regimes race toward the iceberg at full speed.
Rather than invest in real long-term solutions, everyone is in the casino, buying options that expire in a few hours. Rather than invest for an entire quarter–whew, three whole months!–speculators now consider a week an unbearably long time to hold a trade.
Speculative frenzies create their own Death Spirals, as gamblers front-run the “guaranteed” bailout of speculators by central banks. This is the consequence of moral hazard being elevated to “guaranteed”: there is no need to actually wait for the inevitable central bank bailout of bets gone bad, we can place bets before the bailout because we know it’s as assured as the sun rising tomorrow morning.
Nice, except central banks and bailouts also reach diminishing returns and enter Death Spirals. Doing more of what’s failed seems to work once, then twice, if you give it enough juice, but the third time is iffy and the fourth time collapses the speculative casino that the status quo was trying to save.
No one who benefits from the Moral Hazard Casino Economy believes it’s no longer sustainable. All the gamblers, big and small, are confident the Federal Reserve and other central banks can cover any losses and make good whatever befalls the casino. The hubris of the punters, big and small, is essentially infinite.
I’ll get out before the house of cards collapses, everyone tells themselves. In the meantime, I’m going to front-run the inevitable bailout of this speculative frenzy.
There is an element of inevitability in play, but it isn’t about central bank bailouts, it’s about Death Spirals and the collapse of unsustainable systems. Death Spirals and speculative frenzies have now been completely normalized. We can’t imagine any other way to operate. But this New Normal won’t last as long as punters believe. Doing more of what worked in the past is only accelerating the casino’s demise.
Since the dawn of human civilization 5,000 years ago, ordinary people like you and me have been engaged in an endless struggle to resist efforts by elites, whether local, national, international or global, to assert complete control over us and the resources around us.
And for 5,000 years, with some wins and a great many losses, we have managed to stave off the worst.
Finally, in January 2020, the World Economic Forum launched its ‘Great Reset’: The final assault in the Elite’s long war against humankind and nature itself.
As we pass the third anniversary since this final battle was launched, it is well worth evaluating the progress of our resistance.
Is our resistance being effective? Are we succeeding?
Unfortunately, as is obvious from any serious evaluation, we are being smashed. Let me explain why.
[While they are not addressed in this article, I wish to acknowledge the range of other profound threats that pose a serious risk to any worthwhile human future, most notably the threat of nuclear war which arguably stands greater than at any previous time in human history.]
Evaluating Progress
Any strategy to resolve a conflict of this nature must begin with a sound analysis of what is happening:
Who is driving it (which answers the question ‘Who benefits?’) What do they intend? Why are they doing it? And how?
Only once these questions have been clearly answered is it possible to develop a strategy that will be adequate to the challenge posed by the threat.
So who is doing what?
Whatever we have been told by such organizations as the World Health Organization, national governments and the corporate media during the past three years, the most cursory investigation reveals that the World Economic Forum has been just behind the scenes effectively directing the response of governments to the threat supposedly posed by a ‘pathogenic virus’ labeled SARS-CoV-2.
However, any serious investigation will reveal that even the World Economic Forum is simply another ‘front’ for more powerful individuals and their organizations, which I call ‘the Global Elite’
And if you want to watch or read other accounts carefully explaining why no ‘pathogenic virus’ has ever been isolated, here is a token sample of the extensive documentation of this point:
In parallel with monumental efforts to convince us that we are living under enormous medical threat, and must submit to an onerous series of restrictions on our freedom, including multiple injections of a gene-altering bioweapon, a great deal has been going on that has been deliberately obscured from public view.
However, while information about this program is readily available to those who investigate – see, for example, the World Economic Forum’s ‘Great Reset’ – the reality is that few people have investigated because they were terrorized into believing the cover story: Their life was threatened by a ‘virus’.
But if we spend time investigating the material presented on the World Economic Forum’s ‘Great Reset’ website and reading critiques of it offered by well-informed researchers, one has no difficulty discovering that, on behalf of the Global Elite, the WEF is now implementing the Elite’s long-planned changes to 200 areas of human life.
To briefly elaborate just one set of changes being imposed as part of this program, consider the prospect of our technological imprisonment as transhuman slaves in ‘smart cities’.
What does this mean?
In essence: the Elite is rapidly building a complete technocracy based on surveillance and control technologies.
These technologies include (among many others) 5G, 6G, the Internet of Things (which will be connected to artificial intelligence [AI] programs that monitor the network of ‘smart’ devices you were deceived into implanting in your body and installing in your home),
geofencing (which will technologically confine you to five kilometres from where you live),
smart street poles and lights (which will gather data via facial recognition cameras and environmental sensors,
display digital signage and use speakers to instruct the immediate population how to behave), digital identity (which will be used to control your access to ‘approved’ activities),
central bank digital currencies (that will be used to control what you can buy,
how much of it and where),
surveillance and (3D) facial recognition cameras deployed in all public spaces (to monitor your movements and control your access), license plate readers, vehicle kill switches,
drones (used as aerial police), robots (including as a ‘deadly force option’) as well as autonomous and electromagnetic weapons. Beyond this, transhuman slaves will become ancilliary ‘workers’ in an increasingly robotized workforce.
To reiterate, these technologies will be used to monitor your every movement and completely control your behaviour, including by using the utterly transformed model of AI policing by drones and robots armed with electromagnetic weapons, as just touched upon.
In case it is not already obvious, this Elite-controlled technocratic prison will subvert human identity, human dignity, human volition, human privacy and human freedom.
Everything that makes human life worth living will be taken from you.
Why is the Elite doing this?
In brief, using a variety of means, this program based on a reduction of a substantial proportion of the human population, as is now happening, imprison those left alive as transhuman slaves in technocratic ‘smart cities’, enclose the Commons forever and deliver all remaining wealth into Elite hands.
Hence, according to the WEF, by 2030 ‘You’ll Own Nothing. And You’ll Be Happy.
And how is the Elite implementing this heinous program?
While the brief discussion above highlights the responsibility of the Global Elite for planning this program and then having it implemented through Elite agents including the World Economic Forum, relevant international organizations such as the WHO, national governments, pharmaceutical corporations and national medical associations, a critically important role has long been played by education systems, the corporate entertainment industry as well as the corporate media in ensuring that what most people regard as ‘knowledge’ and what most people believe is ‘true’ is always consistent with the Elite-promoted narrative.
Hence, in the current context, government media channels and most corporate newspapers, television and radio news programs as well as corporate social media giants have heavily promoted the Elite-driven narrative and routinely censored those telling the truth in exposing the Elite program.
As a result, while some people resisted the onerous restrictions on human freedom, few of these people understood the genuine threat that we faced from the elite plan concealed behind the ‘virus’/‘vaccine’ narrative. Consequently, most resistance has been focused on the wrong people, using ineffective means and with negligible understanding of what is taking place.
Hence, we are three years into this crisis that portends profound changes to human society, including the death of billions of people and the transhuman enslavement of virtually all those left alive, with only negligible progress in resisting this long-planned and sophisticated Elite program.
Let me elaborate.
We Are Being Smashed Politically
With the vast bulk of the human population trapped in the delusion that governments make the important decisions that shape our lives, virtually all effort to halt the substantial encroachments on our identity, dignity, volition, rights and freedom, including the injection mandates, has been directed at protest demonstrations, lobbying politicians (or voting for them) and petition-signing with those mobilized demanding that governments withdraw the restrictions and mandates.
This has meant that three years of efforts to mobilize people to resist have been misdirected and the resulting demonstrations, lobbying/voting and petitions have absorbed and dissipated the dissent, as those who truly govern intend.
As has been systematically documented, Elites of a local, regional, national, international and, most recently, global reach have controlled the political destiny of the population over which they exercised jurisdiction making the word ‘government’ a meaningless term. For a brief elaboration of this point, see
Beyond this, however, since World War II there has been an ongoing series of developments to create global infrastructure that subverts any remaining national sovereignty while shifting power to the Global Elite.
Among many initiatives, for example, the Global Public-Private Partnership has been presented by Klaus Schwab and Peter Vanham, on behalf of the World Economic Forum.
So what is it? According to Davis, the Global Public-Private Partnership (G3P) is a worldwide network of stakeholder capitalists and their partners:
the Bank for International Settlements,
central banks, global (including media) corporations,
the ‘philanthropic’ foundations of multi-billionaires,
policy think tanks,
governments (and their agencies),
key non-governmental organizations and global charities,
selected academic and scientific institutions, labour unions and other chosen ‘thought leaders’. (You can see an instructive diagram in the article cited below.)
The G3P controls the world economy and global finance.
‘It sets world, national and local policy (via global governance) and then promotes those policies using the mainstream media’, typically distributes the policies through an intermediary such as the IMF, WHO or IPCC and uses governments to transform G3P global governance into hard policy, legislation and law at the national level. ‘In this way, the G3P controls many nations at once without having to resort to legislation.
This has the added advantage of making any legal challenge to the decisions made by the most senior partners in the G3P (an authoritarian hierarchy) extremely difficult.’ In short: global governance has already superseded the national sovereignty of states: ‘National governments had been relegated to creating the G3P’s enabling environment by taxing the public and increasing government borrowing debt.’ See ‘What Is the Global Public-Private Partnership?’
As Davis notes:
We are supposed to believe that a G3P-led system of global governance is beneficial for us and to accept that global corporations are committed to putting humanitarian and environmental causes before profit, when the conflict of interest is obvious. ‘Believing this requires a considerable degree of naïveté.’
Davis clearly perceives ‘an emergent global, corporate dictatorship that cares not one whit about truly stewarding the planet.
The G3P will determine the future state of global relations, the direction of national economies, the priorities of societies, the nature of business models and the management of a global commons. There is no opportunity for any of us to participate in either their project or the subsequent formation of policy.’ Davis goes on:
‘in theory, governments do not have to implement G3P policy, in reality they do. Global policies have been an increasing facet of our lives in the post-WW2 era…. It doesn’t matter who you elect, the policy trajectory is set at the global governance level. This is the dictatorial nature of the G3P and nothing could be less democratic.’
But, as explained previously and despite the claim by Davis of ‘an emergent global, corporate dictatorship’, this is just one of the more recent manifestations of national sovereignty being usurped by a Global Elite intent on removing even the delusion of any form of citizen engagement in policy determination and implementation. See ‘Historical Analysis of the Global Elite: Ransacking the World Economy Until “You’ll Own Nothing.”’
But, obviously, it doesn’t usually get to this. The Elite has a multitude of measures that enable it to control what most people like to believe are ‘democratic’ processes. For example, have you heard of the World Economic Forum’s ‘Young Global Leaders’ program in which the Forum indoctrinates carefully recruited young people to play their lifetime part in implementing Elite initiatives. You don’t get chosen for this program, or graduate from it, if you don’t have impeccable credentials. Just ask people as ‘diverse’ as President Emmanuel Macron, President Vladimir Putin and Prime Minister Justin Trudeau.
As WEF head Klaus Schwab boasted at Harvard University’s John F. Kennedy School of Government in 2017:
But the YGL isn’t the only program of this nature. Have you heard of Schwarzman Scholars?
And if you think that we have legal redress to defend all those rights and freedoms supposedly guaranteed by a plethora of treaties, conventions, national constitutions and human rights laws, then you haven’t been paying attention while these have long been systematically ignored, if not simply wiped out. After all, legal systems exist to defend Elite power, profit and privilege, as the record demonstrates. See ‘The Rule of Law: Unjust and Violent’.
Next time you hear of a legal ruling that appears to favour ‘ordinary’ people, check back some months and years later to see if it survived the usual appeal processes and was ever actually implemented. And, if it was, did it actually change anything or simply lead to more of the same, as happens, for example, when a corporation is occasionally fined for some outrageous behaviour but absorbs the fine as a ‘cost of doing business’.
In summary, if you believe that international or national legal processes will hold the Global Elite (and not just the occasional scapegoated minion) to account, strike down vaccine mandates and a vast range of other violations of human rights, or even allow some of us to get some form of genuine compensation for the vast death, injury and damage inflicted historically or even just during the last three years, then I simply encourage you to read some history to see if you can find any evidence to support your belief.
We Are Being Smashed Economically
While many people have noted the damage done to the world economy by a series of measures supposedly carried out in response to the threat posed by the ‘virus’, ranging from lockdowns (which shuttered vast areas of the economy by disrupting all parts of the global supply chain and stopped most people from working) to vaccine mandates, the fact is that these measures were just the latest and most visible in a 5,000-year history of Elite action to secure and consolidate economic control, progressively enclose the Commons, enslave the human population in work to achieve Elite ends and capture all wealth, among other outcomes explained elsewhere in this article.
But the essence of this report is simple: Building on millennia of effort, since the late C19th a small group of extraordinarily politically powerful and wealthy families, that I call the Global Elite, has accelerated previous efforts to create a global political, economic and legal infrastructure that facilitates the unending concentration of Elite power. This includes effective ownership and control of all key components of the economy including the banking, asset management, weapons, energy, technology, agrochemical, food, mining, pharmaceutical and media industries.
In this world order, neither international governmental organizations such as the United Nations nor national organizations such as governments have any significant say in what takes place. And you don’t either.
We Are Being Smashed Medically
As noted above, there is no documented scientific proof that any such thing as a ‘pathogenic virus’ has ever been isolated, including in the instance of SARS-CoV-2.
But underlying this fact is a very lengthy story about how many long-standing traditional natural healing methods that are very powerful and were used for millennia were systematically discredited and destroyed, as well as how a conflict of ideas about how to approach the maintenance of human health – characterised by the opposing views of Antoine Béchamp and Louis Pasteur in the C19th – culminated in the success of the latter’s ideas, because they enabled a rapid advance in the development of the centralized control desired by Elites, thus replacing long-standing and effective systems of health with one designed to attack human health and kill the patient or precipitate their (highly profitable) lifetime dependency on drugs.
Beyond this, however, ongoing strenuous efforts have consistently been made since the late C19th to control the health, medical and pharmaceutical information available to the public to ensure the suppression of effective treatments for various illnesses, including cancer – see Gerson Therapy – and thus ensure the profitability of the lethal medical, pharmaceutical, processed (including junk) food and confectionery industries, among others, as well as to endlessly consolidate the ever-tightening control over the human population exercised through medical means including through the latest manifestation of this effort, the Covid-19 scam.
However, like many subjects of this nature, much of the documentation in relation to this history has been carefully suppressed or eliminated, one way or another. Nevertheless you can read a sample of books that document it here:
In any case, as we discovered during the period supposedly marked by the Covid-19 ‘pandemic’ and, as noted above, despite the complete absence of any scientific evidence of the existence of any such thing as a ‘pathogenic virus’, including in the instance of SARS-CoV-2, we were nevertheless subjected to a wide range of measures that constituted martial law and violated a wide range of our human and constitutional rights.
Notably, for example, James Roguski characterized the proposed changes to the International Health Regulations as amounting to ‘medical martial law’ and, out of a list of 100 reasons he compiled for opposing the proposed changes, he highlighted ten that were particularly offensive. These included the facts that the proposed changes would alter the status of the WHO from an advisory body to one that made proclamations that are binding on governments; remove from Article 3 a provision requiring ‘respect for dignity, human rights and fundamental freedoms of people’; give the WHO the power to mandate medical examination, proof of prophylaxis, proof of vaccine, contact tracing, quarantine and treatment; institute an intrusive system of digital (or paper) health certificates; and greatly expand the WHO’s capacity to censor what they believe to be misinformation or disinformation, among many other onerous provisions. See ‘A World-Wide Call to Take Immediate and Massive Action’.
Given that these proposed changes to the draft Regulations violate long-standing laws, implemented following the Nuremberg trials of Nazi doctors – see ‘The Nuremberg Code, 1947’ – protecting people’s right to choose whether or not to seek the form of medical treatment of their choice, it is clear that the Elite interests that have exercised ever-deepening control of human society are intent on continuing to use the pharmaceutical and medical industries as key tools in their armory to kill off significant numbers of people and control those left alive.
As an aside, while Katherine Watt carefully details the ongoing militarization of public health since the 1960s and the use of US military ‘kill box’ planning and tactics in relation to Covid-19 – see ‘Kill Box: Multi-Service Tactics, Techniques and Procedures for Kill Box Planning and Employment’ – she attributes this approach to the ‘globalist central bankers’ realizing that pharmaceutical killing enabled a more credible ‘plausible deniability’ and more reliable basis for legal impunity, compared to some of its other measures – such as orchestrated wars, famines and financial crises – for killing off substantial human populations. See ‘Katherine Watt presentation’.
But, in fact, the Global Elite is well aware that there is no prospect of it being held accountable, legally or otherwise, just as its predecessor Elites have never been held accountable for their millennia-long rampage to kill off substantial human populations through wars, imperialism, colonialism, acts of genocide against indigenous and other peoples, the trans-Atlantic slave trade, precipitated famines, the functioning of capitalism, precipitation of depressions and other financial crises, as well as other measures. Why won’t the Global Elite be held accountable now? For the same reason Elites have never been held accountable, as illustrated above: A range of measures give it control over governments and legal systems, as well as control of the narrative (via ownership of the corporate media). See ‘Historical Analysis of the Global Elite: Ransacking the World Economy Until “You’ll Own Nothing.”’
And, just briefly on another initiative, Leo Hohmann has drawn attention to a new category added to the WHO’s International Classification of Diseases: a code specifically for those who are unvaxxed in relation to Covid-19 and another for those who have had inadequate booster shots. In short, your doctor will be required to advise your ‘disease’ if you have not been vaccinated.
As the past three years have demonstrated, after more than a century of harm and killing on a prodigious scale, with ‘medical error’ ranking third on the list of causes of death in the USA, the pharmaceutical-medical complex has been let loose to wreak havoc on humanity. And it is not over yet. See ‘Who’s Driving the Pandemic Express?’ and watch the plan for the next ‘pandemic’, already available: ‘Catastrophic Contagion’.
So if you think the threat to our health from the pharmaceutical-medical industry is over, the reality is that we have simply had the first, ‘warm-up’ round of what must be a very long fight.
We Are Being Smashed Technologically
While most people embrace any new technology without question, the most casual investigation soon reveals that most technologies being made now can be used to surveil and control us and/or to harm or kill us outright. And given that this is the explicit intention behind ‘smart’ technologies, the long-planned and incredibly detailed Elite program to kill off many of us and build a technocracy in which we are permanently enslaved is proceeding at a breathtaking pace.
If you doubt this, have a look at the extensive range of videos and ‘Transformation Maps’ accessible from the World Economic Forum’s ‘Strategic Intelligence’ website.
Among the critically important technologies that are making this transhuman enslavement possible, the deployment of 5G, introduction of Digital Identity and the shift to Central Bank Digital Currencies (CBDCs) are vital and are being rapidly rolled out around the world as you read this article. As a matter of interest, were you consulted about any of this? Were you shown the extensive documentation of the dangers of the electromagnetic radiation from 5G? See ‘Deadly Rainbow: Will 5G Precipitate the Extinction of All Life on Earth?’
Were you informed that your Digital ID will make your freedom and privacy a thing of the past, especially when your social credit score has been determined? See ‘Digitizing Your Identity is the Fast-Track to Slavery: How Can You Defend Your Freedom?’ And have you been told that, based on your social credit score, the CBDCs will be used to control where you can spend your ‘money’, on what it can be spent and how much you can spend at any one time in any one place?
Beyond this, have you been consulted about the facial recognition (which record and store a 3D representation of your face) and surveillance cameras being installed everywhere?
With some 20 billion cameras already installed, there will be plenty to keep an eye on you, wherever you are.
And did you know these cameras will be linked to artificial intelligence that will be keeping exact track of your movements. Of course, your phone, other smart household devices, along with the license plate readers and vehicle kill switches will make sure that you are kept within the 5 kilometres you are allowed to travel from your home, once you are technologically imprisoned in one of the Elite’s ‘smart’ (Self-Monitoring, Analysis and Reporting Technology) cities. With geofencing, that is simple.
In his thoughtful article on ‘smart’ cities, technocracy expert Patrick Wood briefly explains why smart cities are central to Elite plans: Because cities don’t have the physical resources – the land which makes it possible to farm, mine resources, harvest timber and so on – found in rural areas, the technocrats devised a strategy to force people from rural to urban settings and then imprison them there. See ‘Day 9: Technocracy And Smart Cities’.
And remember when you gave a voice recording as biometric evidence that it was your bank account? How safe was that, do you think? See
While much more could be written about the technological hell that is being built around us, a little time reading about the Metaverse is well worth the effort if you want a clearer understanding of the technocratic dystopia in which we might soon live. See ‘Virtual Beauty, Virtual Freedom, Virtual Love: Is the Matrix Metaverse Our Future?’
If you still doubt the technological threat we face, the good news is that key Elite agents in this context are happy to spell it out. For example, consider reading this original World Government Summit report written in 2018 with Elite projections for 2071: ‘Government in 2071: Guidebook. Preparing for new frontiers’.
At the latest World Government Summit just held in Dubai from 13-15 February 2023, Klaus Schwab was his usual, straightforward self: ‘Our life 10 years from now will be completely different, very much affected, and who masters [fourth industrial revolution] technologies, in some way, will be the masters of the world’. He also warns that failure to master these advanced technologies could mean that people like you and me ‘escape our power’. Watch ‘Klaus Schwab Calls For Global Government To “Master” AI Technologies’.
So unless you see yourself in the category of those who will master and control these technologies, and hence the rest of us, you will not be one of the ‘masters of the world’. You can read another critique of the recent conference, outlining more of the horrors being planned for us, here:
To summarize: Virtually all of us have been surrendering our personal data for decades and most of it is still stored on a government or corporate computer in a databank (referred to, misleadingly, as ‘the cloud’) where it can be accessed to determine your future social credit score (and everything that this score will, and will not, allow). Combined with the substantial range of technologies now available that are able to use this data in a multiplicity of ways, you will soon be imprisoned in a technocratic slave city, subject to the arbitrary rule of our ‘masters’, with escape virtually impossible.
In essence, we are endlessly being promised greater privacy, security and convenience. But all the evidence suggests that your data makes it very convenient for the Elite to invade your privacy and deny you security. And, of course, freedom simply won’t exist.
Why Fear Is Preventing Humanity from Resisting the Elite Program Strategically
As parents, teachers and religious figures, we are told we are responsible for socializing our children. In practice, as everyone unconsciously understands this, it means that we terrorize children into being submissively obedient.
How do we do this? We inflict an unending stream of violence – in three categories I have labeled ‘visible’, ‘invisible’ and ‘utterly invisible’ – on the children in our lives. The sophistication of this program of terrorizing children is obscured from public view because the bulk of the everyday violence we adults inflict is, literally, ‘invisible’ or even ‘utterly invisible’; that is, the behaviour is not perceived or acknowledged as violent even though that is how it is perceived by children who are on the receiving end of it. Moreover, it was perceived by us as violent when we were children but we were terrorized into suppressing our awareness of this reality. For a full explanation, see
So while other supposedly psychological explanations of what has transpired historically (the causes of war, imperialism, colonialism, genocide, slavery and a host of other heinous elements of human history) or even during the past three years, are routinely promulgated – see, for example, Mattias Desmet’s theory of ‘mass formation’:
One needs courage to face the truth, and to respond to it powerfully, and courage is not an attribute that can be genuinely ascribed to many people.
It is difficult to investigate the truth when a childhood of being terrorized into obediently believing and doing what you are told stands in the way.
Hence, human history proceeds in a simple linear fashion: We use violence to terrorize children into submissive obedience while using more (particularly ‘invisible’ and ‘utterly invisible’) violence to force them to suppress awareness of that fact. The child grows up having unconsciously ‘learned’ to use violence to achieve many outcomes, but particularly how to use violence against their own children to make them obedient. So violence is endlessly recycled: wars and violence of all kinds – against ourselves, other people and nature in an infinite variety of ways and settings – repeat endlessly.
Because it is not the violence we end up being too terrorized to confront. It is our own fear. Again, see ‘Why Violence?’
So we are rapidly entering a world in which all of that terrorizing of children has left us with a world of submissively obedient adults who are doing what they are told by international agencies, their government and the corporate media: Get injected four, six, eight… times; remain ‘locked down’ or, soon, in your ‘smart’ city prison; submit your data for a digital ID and a social credit score; accept the surveillance and control technologies without question (although they will tell you it is for your convenience, privacy and security just as your parents told you obedience ‘was for your own good’ when you were a child), and accept the delusional symbols of ‘freedom’ represented by your ability to travel up to 5 kilometres from your home to do one of the approved activities and to wear a metaverse mask to delude yourself that you are in a place you would prefer to be.
So while most people will fearfully delude themselves that ‘the worst is behind us’, those who are paying attention know that this fight has barely begun and that the Elite has a 50-year timeframe to impose their full program upon us, even if the worst will happen by 2030.
This means that if we are to survive not only the current onslaught but also maintain our commitment and capacity to sustain our struggle for years and, possibly, decades, we need to ensure that we are paying careful attention to our own emotional health and that of our family members and the people in our community too.
A long-planned, vast range and parallel sequence of measures is being rapidly implemented to capture political, social, economic, medical and technological control of the human population. The intention is to kill off a substantial proportion of humanity and imprison those left alive as transhuman slaves in the Elite’s technocratic (surveillance and control) ‘smart’ cities, which will be policed by a range of current and emerging technologies.
And, as I have explained previously and above, because the Global Elite controls conventional political, economic, financial, technological, medical, educational, media and other important levers of society, the Elite has control of how events unfold while simultaneously giving it control of the narrative about what is taking place. As a result, the truth about the Elite plan is easily concealed. Consequently, effective resistance to this complex and sophisticated program requires a response based on a full understanding of the Elite’s deeper agenda and that is equally sophisticated.
This means that we cannot rely on any conventional channel, political, legal or otherwise.
It also means that those campaigns based on a disintegrated set of actions that lack strategic focus can achieve nothing, although they mislead those resisting into wasting their effort: a rapid path to disempowerment and disenchantment for those deceived by people deluding themselves that they understand strategy.
The only way we can defeat this long-planned, complex and multifaceted threat, is to mobilize sufficient people all over the world who are willing to nonviolently noncooperate with its foundational components, that is, those elements that make the entire Elite program possible.
So if you are interested in being strategic in your resistance to the ‘Great Reset’ and its related agendas, you are welcome to participate in the ‘We Are Human, We Are Free’ campaign which identifies a list of 30 strategic goals for doing so.
In addition and more simply, you can download the one-page flyer that identifies a short series of crucial nonviolent actions that anyone can take. This flyer, now available in 23 languages (Chinese, Croatian, Czech, Danish, Dutch, English, Finnish, French, German, Greek, Hebrew, Hungarian, Italian, Japanese, Malay, Polish, Portuguese, Romanian, Russian, Serbian, Spanish, Slovak and Turkish) with several more languages in the pipeline, can be downloaded from here: ‘One-page Flyer’.
If this strategic resistance to the ‘Great Reset’ (and related agendas) appeals to you, consider joining the ‘We Are Human, We Are Free’ Telegram group (with a link accessible from the website).
And if you want to organize a mass mobilization, such as a rally, at least make sure that one or more of any team of organizers and/or speakers is responsible for inviting people to participate in this campaign and that some people at the event are designated to hand out the one-page flyer about the campaign.
If you like, you can also watch, share and/or organize to show, a short video about the campaign here: ‘We Are Human, We Are Free’ video.
In parallel with our resistance, we must create the political, economic and social structures that serve our needs, not those of the Elite. That is why long-standing efforts to encourage and support people to grow their own food – see ‘23 Reasons You Should Start a Garden in 2023’ – participate in local trading schemes (involving the exchange of knowledge, skills, services and products with or without a local medium of exchange) and develop structures for cooperation, governance, nonviolent defence and networking with other communities are so important.
Of course, indigenous peoples still have many of these capacities – lost to vast numbers of humans as civilization has expanded over the past five millennia – but many people are now engaged in renewed efforts to create local communities, such as ecovillages, and local trading schemes, including Community Exchange Systems. Obviously, we must initiate/expand these forms of individual and community engagement in city neighbourhoods too. And we must learn to defend them as well.
In addition, to reiterate, if you want to raise children who are powerfully able to investigate, analyze and act, you are welcome to make ‘My Promise to Children’.
Conclusion
We are currently living in the final phase of a 5,000 year effort to impose total control over the human population. There are many reasons why it has reached this point. Some key reasons are explained above. And despite the comfortable delusion that the most obvious and onerous restrictions that we have experienced over the past three years have temporarily receded, the fact remains that a vast range of political, economic, medical and technological measures are being implemented as you read these words and we have only just ended the first round of what must be, if we are to be successful, a protracted fight.
In essence, what we do between now and 2030 will determine the fate of humanity. If we can mobilize enough people to resist strategically, we will succeed. But there is little sign of that so far.
Understanding how power works in the world system as well as who, precisely, is driving what is happening, what they are doing, why, and how they are doing it are crucial prerequisites for developing an effective strategy to resist the current Elite program to kill off a substantial proportion of humanity, enslave those left alive in a technocratic prison, enclose the Commons forever and consolidate all wealth in Elite hands.
It is the failure to understand these crucial points that accounts for the ineffective ‘resistance’ that has characterized the past three years.
And this is complicated by the fact that fear makes most people unable to learn either from their own failed experience or to seriously investigate what is happening and how to resist it most effectively. So they fearfully repeat what is familiar, without even asking if it has worked in the past.
So each passing day we still witness fruitless attempts to convince one elite agent or another – a politician, a judge, a corporate media executive… – to take action that will turn the tide in our favour. But none of these individuals can help us.
The reality is simple: If we do not act strategically ourselves, and mobilize sufficient others to do so too, then human identity and freedom will be lost forever.
Biodata: Robert J. Burrowes has a lifetime commitment to understanding and ending human violence. He has done extensive research since 1966 in an effort to understand why human beings are violent and has been a nonviolent activist since 1981. He is the author of ‘Why Violence?’ http://tinyurl.com/whyviolence His email address is flametree@riseup.net and his website is here. http://robertjburrowes.wordpress.com
The Great Moderation of low inflation and soaring assets has ended. Welcome to the death by a thousand cuts of stagflation. It was all so easy in the good old days of the past 25 years: just keep pushing interest rates lower to reduce the cost of borrowing and juice credit expansion ((financialization) and offshore industrial production to low-cost nations with few environmental standards and beggar-thy-neighbor currency policies (globalization).
Both financialization and globalization are deflationary forces, as they reduce costs. They are also deflationary to the wages of bottom 90%, as wages are pushed down by cheap global labor and stripmined by financialization, which channels the vast majority of the economy’s gains into the top tier of the workforce and those who own the assets bubbling up in financialization’s inevitable offspring, credit-asset bubbles.
To keep the party going, central banks and governments pushed both forces into global dominance: hyper-financialization and hyper-globalization. Policy extremes were pushed to new extremes: “temporary” zero-rate interest policy (ZIRP) stretched on for 6 years as every effort was made to lower the cost of credit to bring demand forward and inflate yet another credit-asset bubble, as the “wealth effect” of the top 5% gaining trillions of dollars in unearned wealth as asset bubbles inflated pushed consumption higher.
Corporate profits soared as credit became essentially free and super-abundant and globalization lowered costs and institutionalized planned obsolescence, the engineered replacement of goods and software that forces consumers to replace their broken / outdated products every few years.
Every economic lever was pulled to extend the vast profits generated by hyper-financialization and hyper-globalization. Currencies were manipulated lower to boost exports, cheap credit kept zombie companies alive, bridges to nowhere and millions of empty flats were built to boost jobs and profits, and so on.
At long last, all these gimmicks have reversed or reached marginal returns: they no longer keep inflation suppressed, asset bubbles inflating and profits expanding. The malinvestment of global capital will be revealed and the costs of the policy gimmickry will be paid by years of stagflation: high inflation, low or negative growth and endless debt crises as the reliance on cheap credit to boost profits comes home to roost.
It turns out that the inevitable offspring of hyper-financialization and hyper-globalization are inflation, credit crises and the undermining of national security as the self-serving goal of pushing corporate profits higher via globalization led to fatal dependencies on competing powers for the essentials of modern life.
Correcting these decades-long extremes will take at least a decade as long-suppressed inflation becomes endemic, supply-chain disruptions become the norm and capital has to be invested in long-term national projects such as reshoring and the engineering of a new more efficient energy mix–projects that will only be expenses for many years.
The gains will not even be measured by our current outdated economic metrics of GDP and profits. The gains will be in the national security of essential supply chains and production and in the relocalizing of jobs and capital, not corporate profits.
Our reliance on the endless expansion of credit, leverage and credit-asset bubbles will have its own high cost: the collapse not just of the current Everything Bubble but of the engines that inflated one bubble after another.
Central bank and state authorities are thrashing about cluelessly, as all their gimmicks are now problems rather than solutions. The current policy gimmicks laid the foundations for a decade or more of high inflation, low growth and credit crises as the phantom “wealth” of credit-asset bubbles evaporates.
This will drive a reverse Wealth Effect as the top spenders are crushed by the collapse of asset bubbles. Long-term trends in demographics (shrinking workforces and the skyrocketing population of elderly) and depletion of resources will add fuel to the inflationary / low growth / credit crises bonfires.
Gordon Long and I discuss all these mutually reinforcing trends in A Great Stagflation (36 min). This is the culmination of our decade of programs about all the policy gimmicks that were pushed to extremes to maintain the illusion of stability and growth–an illusion that’s evaporating as it makes contact with stagflationary realities.
Step away from the blinders that partisan politics uses to distract, divide and conquer, and you will find that we are drowning in a cesspool of problems that individually and collectively threaten our lives, liberties, prosperity and happiness.
These are not problems the politicians want to talk about, let alone address, yet we cannot afford to ignore them much longer.
Corporate and governmental censorship have created digital dictators. While the “Twitter files” revealed the lengths to which the FBI has gone to monitor and censor social media content, the government has been colluding with the tech sector for some time now in order to silence its critics and target “dangerous” speech in the name of fighting so-called disinformation. The threat of being labelled “disinformation” is being used to undermine anyone who asks questions, challenges the status quo, and engages in critical thinking.
Middle- and lower-income Americans are barely keeping up.Rising costs of housing, food, gas and other necessities are presenting nearly insurmountable hurdles towards financial independence for the majority of households who are scrambling to make ends meet. Meanwhile, mounting layoffs in the tens of thousands are adding to the fiscal pain.
The military’s global occupation is spreading our resources thin and endangering us at home. America’s war spending and commitment to policing the rest of the world are bankrupting the nation and spreading our troops dangerously thin. In 2022 alone, the U.S. approved more than $50 billion in aid for Ukraine, half of which went towards military spending, with more on the way. The U.S. also maintains some 750 military bases in 80 countries around the world.
Deepfakes, AI and virtual reality are blurring the line between reality and a computer-generated illusion. Powered by AI software, deepfake audio and video move us into an age where it is almost impossible to discern what is real, especially as it relates to truth and disinformation. At the same time, the technology sector continues to use virtual reality to develop a digital universe—the metaverse—that is envisioned as being the next step in our evolutionary transformation from a human-driven society to a technological one.
Advances in technology are outstripping our ability to protect ourselves from its menacing side, both in times of rights, humanity and workforce. In the absence of constitutional protections in place to guard against encroachments on our rights in the electronic realm, we desperately need an Electronic Bill of Rights that protects “we the people” from predatory surveillance and data-mining business practices.
The courts have aligned themselves with the police state. In one ruling after another, the courts have used the doctrine of qualified immunity to shield police officers from accountability for misconduct, tacitly giving them a green light to act as judge, jury and executioner on the populace. All the while, police violence, the result of training that emphasizes brute force over constitutional restraints, continues to endanger the public.
The nation’s dependence on foreign imports has fueled a $1 trillion trade deficit. While analysts have pointed to the burgeoning trade deficit as a sign that the U.S. economy is growing, it underscores the extent to which very little is actually made in America anymore.
World governments, including the U.S., continue to use national crises such as COVID-19 to expand their emergency powers. None are willing to relinquish these powers when the crisis passes. According to the Brennan Center for Justice, the U.S. government still has 42 declared national emergencies in effect, allowing it to sidestep constitutional protocols that maintain a system of checks and balances. For instance, the emergency declared after the 9/11 has yet to be withdrawn.
The nation’s infrastructure is rapidly falling apart. Many of the country’s roads, bridges, airports, dams, levees and water systems are woefully outdated and in dire need of overhauling, and have fallen behind that of other developed countries in recent years. The American Society of Civil Engineers estimates that crumbling infrastructure costs every American household $3,300 in hidden costs a year due to lost time, increased fuel consumption while sitting in traffic jams, and extra car repairs due to poor road conditions.
The nation is about to hit a healthcare crisis. Despite the fact that the U.S. spends more on health care than any other high-income country, it has the worst health outcomes than its peer nations. Experts are also predicting a collapse in the U.S. health care system as the medical community deals with growing staff shortages and shuttered facilities.
These are just a small sampling of the many looming problems that threaten to overwhelm us in the near future.
Thus far, Americans seem inclined to just switch the channel, tune out what they don’t want to hear, and tune into their own personal echo chambers.
Yet as I make clear in my book Battlefield America: The War on the American People and in its fictional counterpart The Erik Blair Diaries, no amount of escapism can shield us from the harsh reality that the danger in our midst is posed by an entrenched government bureaucracy that has no regard for the Constitution, Congress, the courts or the citizenry.
I don’t have to tell you that your money doesn’t go as far as it once did. You see it every time that you go shopping. Our leaders flooded the system with money and pursued highly inflationary policies for years, and now we are all paying the price. The cost of living has been rising much faster than our incomes have, and this is systematically destroying the middle class. Survey after survey has shown that a solid majority of the population is living paycheck to paycheck, and at this point most U.S. consumers are tapped out. In fact, one brand new survey just discovered that 57 percent of Americans cannot even afford to pay a $1,000 emergency expense…
According to Bankrate’s Annual Emergency Fund Report, 68% of people are worried they wouldn’t be able to cover their living expenses for just one month if they lost their primary source of income. And when push comes to shove, the majority (57%) of U.S. adults are currently unable to afford a $1,000 emergency expense.
When broken down by generation, Gen Zers (85%) and Millennials (79%) are more likely to be worried about covering an emergency expense.
These numbers are quite ominous, because they clearly demonstrate that we are completely and utterly unprepared for any sort of a major economic downturn.
And thanks to the rapidly rising cost of living, we are losing even more ground with each passing month.
Nearly three-quarters, or 72%, of middle-income families say their earnings are falling behind the cost of living, up from 68% a year ago, according to a separate report by Primerica based on a survey of households with incomes between $30,000 and $100,000. A similar share, 74%, said they are unable to save for their future, up from 66% a year ago.
We haven’t experienced anything like this in the United States in decades.
When I walked into a Walmart store the other day, I was shocked by how high the prices are now.
Isn’t Walmart supposed to be the place with “low prices every day”?
Well, the prices were certainly not “low” when I walked through the store.
And I was stunned to learn that McDonald’s is now selling one hash brown for three dollars.
I am sure that many of you can remember a time when they were 50 cents.
Sadly, those days are not coming back.
Food prices are going to continue to go up, and the CEO of Unilever recently admitted that his company has actually “been accelerating the rate of price increases that we’ve had to put into the market”…
“For the last 18 months we’ve seen extraordinary input cost pressure … it runs across petrochemical derived products, agricultural derived products, energy, transport, logistics,” he said.
“It’s been feeding through for quite some time now and we’ve been accelerating the rate of price increases that we’ve had to put into the market,” he added.
US retail sales continued their fall in December, dropping by 1.1% as inflation remained high, the Commerce Department reported Wednesday.
That’s the largest monthly decline since December 2021, and practically every category (except for building materials, groceries and sporting goods) saw sales drop from the prior month.
U.S. existing home sales slowed for the 11th consecutive month in December as higher mortgage rates, surging inflation and steep home prices sapped consumer demand from the housing market.
-More Americans than ever before are being forced to pay at least 30 percent of their incomes on rent…
The average US household is now considered ‘rent-burdened’ as a record-high number of people are spending more than 30 percent of their income on rent.
According to Moody’s Analytics’ latest affordability report, the national average rent-to-income (RTI) ratio reached 30 percent for the first time since the company began tracking the data more than 20 years ago.
U.S. consumers are being stretched financially like never before, and many are turning to debt to help them maintain their current lifestyles.
As a result, the savings rate has plunged to a historic low, credit card debt has surged to a record high, and the average rate of interest on credit card balances has also risen to a record high. As Zero Hedge has aptly noted, this is “nothing short of catastrophic”…
The combination of record high credit card debt and record high credit card interest is nothing short of catastrophic for both the US economy, and the strapped consumer who has no choice but to keep buying on credit while hoping next month’s bill will somehow not come. Unfortunately, it will and at some point in the very near future, this will also translate into massive loan losses for US consumer banks; that’s when Powell will finally panic.
For a long time, we have been warned that the very foolish economic policies that our leaders were implementing would have deeply tragic consequences.
And now it is starting to happen right in front of our eyes.
Sadly, the truth is that this is just the beginning.
The entire system is cracking and crumbling all around us, and there is much more pain ahead.
Saudi Crown Prince Mohammed bin Salman, Masayoshi Son, SoftBank Group Corp. Chairman and CEO, and Christine Lagarde, International Monetary Fund (IMF) Managing Director, attend the Future Investment Initiative conference in Riyadh, Saudi Arabia October 24, 2017. REUTERS/Faisal Al Nasser
The decline of a currency’s world reserve status is often a long process rife with denials. There are numerous economic “experts” out there that have been dismissing any and all warnings of dollar collapse for years. They just don’t get it, or they don’t want to get it. The idea that the US currency could ever be dethroned as the defacto global trade mechanism is impossible in their minds.
One of the key pillars keeping the dollar in place as the world reserve is its petro-status, and this factor is often held up as the reason why the Greenback cannot fail. The other argument is that the dollar is backed by the full force of the US military, and the US military is backed by the US Treasury and the Federal Reserve – In other words, the dollar is backed by…the dollar; it’s a very circular and naive position.
These sentiments are not only pervasive among mainstream economists, they are also all over the place within the alternative media. I suspect the main hang-up for liberty movement analysts is the notion that the globalist establishment would ever allow the dollar or the US economy to fail. Isn’t the dollar system their “golden goose”?
The answer is no, it is NOT their golden goose. The dollar is just another stepping stone towards their goal of a one-world economy and a one-world currency. They have killed the world reserve status of other currencies in the past, why wouldn’t they do the same to the dollar?
Globalist white papers and essays specifically outline the need for a diminished role for the US currency as well as a decline in the American economy in order to make way for Central Bank Digital Currencies (CBDCs) and a new global currency system controlled by the IMF. I warned about this years go, and my position has always been that the derailment of the dollar would likely start with the end of its petro status.
In 2017 I published an article titled ‘Saudi Coup Signals War And The New World Order Reset’. I noted at the time that the sudden power shift over to crown prince Mohammed Bin Salman indicated a change in Saudi Arabia’s relationship to the US. I stated that:
“To understand how drastic this coup has been, consider this — for decades Saudi Kings maintained political balance by doling out vital power positions to separate, carefully chosen successors. Positions such as Defense Minister, the Interior Ministry and the head of the National Guard. Today, Mohammed Bin Salman controls all three positions. Foreign policy, defense matters, oil and economic decisions and social changes are now all in the hands of one man.”
The rise of MBS was backed by the Public Investment Fund (PIF), a fund comprised of trillions of dollars supplied by globalists within Carlyle Group (Bush family, etc.), Goldman Sachs, Blackstone and Blackrock. MBS garnered the favor of the globalists for one specific reason – He openly supported their “Vision For 2030”, a plan for the dismantling of “fossil fuel” based energy and the implementation of carbon controls. Yes, that’s right, the head of Saudi Arabia is backing the eventual end of oil based energy, and part of that includes the end of the dollar as the petro currency.
In exchange for their cooperation, the Saudis are being given access to ESG-like funding as well as access to AI advancements and the so-called “digital economy.” It sounds crazy, but there is much talk of AI developments to cure numerous health problems and extend lifespan. With those kinds of promises, it’s not surprising that Saudi elites would be willing to dump the dollar and even oil.
In 2017 I noted that:
“I believe the next phase of the global economic reset will begin in part with the breaking of petrodollar dominance. An important element of my analysis on the strategic shift away from the petrodollar has been the symbiosis between the U.S. and Saudi Arabia. Saudi Arabia has been the single most important key to the dollar remaining as the petrocurrency from the very beginning.”
I believed that the threat to petro status would ultimately be spurred on by a proxy war between East and West:
“World economic war is the real name of the game here, as the globalists play puppeteers to East and West. It is a geopolitical crisis they will have created to engineer public support for a solution they predetermined.”
Back then I thought that such a proxy war would be initiated in the Middle East, possibly in Iran. However, it’s clear that Ukraine is the powderkeg the globalists have chosen, at least for now, with Taiwan being the next shoe to drop.
In the years since I made these predictions the relationship between Saudi Arabia, Russia and China has grown very close. Arms deals and energy deals are becoming a mainstay of trade and this has led to a quiet but steady distancing of the Saudis from the dollar. This past week, the dominoes were set in motion for dollar collapse when Saudi Arabia announced at Davos that they are now willing to trade oil in alternative currencies.
In response, Xi Jinping pledged to ramp up efforts to promote the use of the Chinese yuan in energy deals. This falls in line with another article I wrote in 2017 titled ‘The Economic End Game Continues,’ in which I described how conflict with Eastern nations (China and Russia) would be exploited to create a catalyst for the end of the dollar’s petro status.
The importance of the Saudi announcement cannot be overstated; this is the beginning of the end of the dollar. The dollar’s world reserve status is largely dependent on its petro-status. Without one, you cannot have the other. This is almost the exact same dynamic that led to the implosion of the British Sterling decades ago as the global petro currency which resulted in the rise of the dollar to take its place.
This time, though, it will not be a single foreign currency that takes on the role of world reserve, it will be a basket currency system controlled by the IMF called Special Drawing Rights, along with a single global digital currency that is yet to be named but is now under development.
The consequences of the loss of reserve status will be devastating to the US economy. It is the only glue holding our system together – The ability to defer inflation by exporting it overseas is a superpower only the US enjoys. The Fed can print money perpetually if it wants to in order to fund the government or prop up US markets, as long as foreign central banks and corporate banks are willing to absorb dollars as a tool for global trade. If the dollar is no longer the primary international trade mechanism, the trillions upon trillions of dollars the Fed has created from thin air over the years will all come flooding back to the US through various avenues, and hyperinflation (or hyperstagflation) will be the result.
This dynamic is already in play, as foreign holders of US debt and dollars have been dumping them at record pace since 2017. The process continues at a time when the Federal Reserve is cutting it’s balance sheet and raising interest rates, which means there is no longer a buyer of last resort.
This may be why multiple foreign central banks have renewed their purchases of gold reserves and are once again stockpiling precious metals. They seem to be well aware of what is about to happen to the dollar, while the American public is kept in the dark.
The effects of the decline of the dollar may not be immediately felt, or become obvious for another year or two. What will happen is consistent inflation on top of the high prices we are already dealing with. Meaning, the Federal Reserve will continue to hold interest rates higher and prices will barely budge or they may climb in spite of monetary tightening. Even in the face of a major recessionary contraction, which I predict will be triggered starting in April, prices will STILL remain higher.
All the while the mainstream media and government economists will say they have “no idea” why inflation is so persistent, and that “nobody could have seen this coming.” Some of us saw it coming, but only because we accept the reality that the dollar’s days are numbered.
After the Crash 