Tag Archives: Economics

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.

This Long Plotted World Takeover Scheme Is More Advanced Than Any Normal Human Can Fathom

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By Gary D. Barnett

Source: GaryDBarnett.com

“The drive of the Rockefellers and their allies is to create a one-world government combining supercapitalism and Communism under the same tent, all under their control. Do I mean a conspiracy? Yes, I do. I am convinced there is such a plot, international in scope, generations old in planning, incredibly evil in intent.”

~ Rep. Larry P. MacDonald (Note: Lawrence McDonald was killed (likely murdered) on Korean Air Lines 007, 1983, a few months after making this statement.)

To begin, I will preface my remarks by saying that this is an attempt to explain in simple terms, very complicated financial and economic crimes being used against Americans, and also against the entire world population, in order to create and sustain total control over humanity. This is meant to manifest itself in the concept of one world governance, the ‘Great Reset,’ or the New World Order. This may seem a bold statement; it is not, but once you understand that everything that has happened over many decades is linked, especially since the plotted and premeditated false flag event called ‘9/11,’ you should be able to recognize the massive number of obvious connections that are incredibly evil.

It has recently become more prevalent by mostly alternative news sites and bloggers, to put forth the notion that many are waking up, and that the people are winning the battle for freedom. In my opinion, this is just not so, and in fact is misleading, as false hope is the driving force of this thinking. It is evident that more are claiming to be against government tyranny, but absolutely nothing has been done to reduce or eliminate the power of the State at any level to date. In addition, the nefarious efforts of the State and its controllers continue to expand, and the drive toward more draconian policies is never-ending. In the current environment, it is not known what the reaction by the masses might be considering the vast and imminent array of so-called ’emergencies’ that are certain to arise as this controlling cabal seeks to advance its agendas, but if the past is any indication, compliance should be expected.

The takeover framework of these ruling psychopaths is based always on the prototype of problem-reaction-solution, of which all are fake premeditated events and false emergencies; conspiracies in fact, meant to instill fear, hatred, or confusion, so that the State can pretend to come to the rescue of its hapless slave-class. This strategy has worked most every time it has been tried to date, and the herd continues to simply go along, regardless of the erroneous rhetoric being spewed that this populace is winning. It is not, and so long as the State continues and succeeds in its push to remake and transform society, whether psychologically, financially, or economically, the power of the ruling class and its governing system, will advance its wealth transfers, its monetary monopoly, and its depopulation efforts.

Psychological manipulation and control is necessary in order for the State thugs to accomplish their mission of world takeover, but financial and economic control is mandatory. This brings us to the real question; who owns and controls this world? It is certainly the big banking cartels, including all central banks, the large corporate magnates, the government protected NGO foundations, and of course, the entire global asset industry, which by 2020 controlled well over $100 trillion dollars. But who owns and controls all of these entities? Who has controlling interest in everything on earth? That is Blackrock and The Vanguard Group, and as I explained a year ago:

“There are a few thousand institutional investment firms that own every large bank, every large corporation, every large investment firm, every ‘news’ outlet, every large communication company, every large pharmaceutical company, every large transportation company; in other words, most every large company on earth is owned by these institutional investors. In turn, the small institutional investment firms are owned by larger institutional investment firms, and the larger investment firms, are owned by even larger investment firms. The two institutional investment companies that are the major owners and controllers of all the others in the world are Vanguard Holdings and Blackrock, and Vanguard is the largest shareholder (owner) of Blackrock. What this means is that Vanguard and Blackrock own and control this planet.”

The current CEO of Vanguard is Tim Buckley, and of course, the head and founder of the powerful Blackrock institution is Larry Fink. It should be noted that Fink and Blackrock have attained a position of extreme and almost infinite power over finance and economics, and according to many are now the fourth branch of government. The connections of Fink are incredibly telling of the power wielded by Blackrock. Blackrock effectively has control of the Federal Reserve and the U.S. Treasury, as well as banks around the world. It should be noted that Fink was appointed to the World Economic Forum’s (WEF) Board on August 22, 2019, the onset of the fraudulent ‘covid pandemic,’ which was set up, solidified, and begun, the same month that Fink took his seat on the board of the WEF. To gain a full picture of Fink and Blackrock’s history through today, watch this superb documentary by James Corbett; “How Blackrock Conquered the World.” In it, Corbett explains with full reference in video and text, how the entire ‘covid’ hoax was staged, and was first and foremost a financial takeover coup led by Blackrock. This connection of dots and people is of vital importance.

As I mentioned earlier, this is a very simplistic view of events, but it is necessary to tie a few things together in order that all can be seen to be completely connected; which would indicate a vast conspiracy that has been propagated over a long period of time. All so-called ’emergencies’ since the fraudulent 9/11 inside job, have much in common, and why would they not, as the main agenda of world governing domination was always the goal sought. Consider just three events, but there are many, many more, over that time.

The buildings that came down on 9/11 were turned into powder, an impossibility with fire caused by jet fuel. Consider that cars far away from any fire were burned to nothing, with melted metal, aluminum, windshield glass; all as if by spontaneous combustion. But the same thing happened in the Paradise, California fires in 2018, with many similarities, including the incredible damage to automobiles not even in the path of fires that had to be well above any heat level of a wildfire. The same also just occurred this past month in Lahaina, Hawaii. How could this be? It could not, unless similar or exact methods of destruction were plotted beforehand, and carried out by criminal State (military) means. And this is happening around the world as well, all falsely explained away by the complicit and controlled mainstream media.

One very telling aspect of all these bogus ’emergencies,’ from 9/11 to Maui, is that Wall Street and the financial firms, the institutional asset firms, central banks, defense contractors, and military-controlled tech companies, and of course this includes Blackrock, tended to gain huge profits, capture (steal through land grabs) more property, government contracts, and massive bailout money, while walking away from disaster far richer and more powerful than ever before possible. This happened with 9/11, the 2008 finance and housing collapse, the fake ‘covid’ plot, and now with the ultimate weapon against humanity, the completely illegitimate ‘climate change’ agenda; and this agenda placed Blackrock at the top of the heap worldwide, of this criminal fraud.

Each and every emergency brings about a bigger and more powerful State, more restrictions, more regulation, more mandates, more lockdowns, less travel, and more surveillance and censorship. This is all by design, and never coincidental or accidental, as all is a deliberate plot against humanity. Regardless of political considerations or parties, this assault against us all is ongoing, and forever expanding. Every incident, every manipulation, every ’emergency,’ has been planned far in advance, and the world takeover is now closer at hand.

While the state continues to build its new world order, the general population is consumed by one after another false flag event, claimed ’emergency,’ or new ‘threat,’ as stated by the ruling class bent on taking over the world. While the masses are at each other’s throats, the state continues its drive toward total domination. What this indicates is that the people are complicit in their own slavery due to their inability to see the big picture, while concentrating on every distraction thrown at them by this evil ruling force.

What is being ignored is that this world has already been taken over and is being fully controlled by the very few, and the fighting of one against another is continuing to aid in this takeover plot. By concentrating on each and every tyrannical distraction, the people have left themselves open to dictatorial management, and in the process have lost all ability to stop the totalitarian usurpation of their lives and property at the hands of the financial cabal bent on world rule.

By treating each indiscretion as independent of the real agenda being sought, nothing is being done to stop the state in its efforts to fully control all people on earth. By participating in the political and ‘voting’ process; a process designed and implemented for the single purpose of control, by concentrating on the political side shows, by attempting to use corrupt government courts to gain redress from tyrannical maneuvers, by accepting the ruling system as legitimate, by allowing the Federal Reserve and all banks the ability to monitor and control assets through complete digitization, the lowly people are digging their own graves.

It may already be too late to continue this asinine exercise in futility, as the ruling class few are in control of the systems that will allow them to complete their takeover plot. The only answer to this evil attempt to destroy us in favor of the few most powerful, is to negate all government, to negate and abolish the federal reserve system, to disallow any and all control by the banking cartels, to stop any and all efforts to monopolize the economic and monetary system’s efforts to create and implement any central bank digital currencies, and to not accept any new feigned emergency concerning health, fake ‘climate change,’ war threats, unnatural events, or any other intentional  criminal acts meant to cause undue fear among the seemingly helpless proletariat.

The people are not winning; they are losing, but this deadly assault on humanity can still be reversed if even a small majority stand up and take responsibility for their own lives and freedom. If the current trend continues, if the bulk of this population persists in hiding from the truth, if most expect others to save them, all will be lost, but if any true actionable awakening by large numbers becomes evident, the state will fold. This will never happen with any election, and no politician can change the course we are on, as depending on any  master participating in this evil governing system, is the epitome of failure, and can only lead to eternal enslavement.

 “The one thing man fears is the unknown. When presented with this scenario, individual rights will be willingly relinquished for the guarantee of their well-being granted to them by a World Government, a New World Order.”

~ Henry A. Kissinger

Resisting Genetically Mutilated Food & the Eco-Modern Nightmare: Together, ‘Just You and Me’  

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By Colin Todhunter

Source: OffGuardian

This image is symbolic of everything that is wrong with modern society.

A gas leak from Union Carbide’s pesticide plant in Bhopal in 1984 resulted in around 560,000 injured (respiratory problems, eye irritation, etc.), 4,000 severely disabled and 20,000 dead.

Not only that, but the pesticides produced at the factory and the model of farming promoted has caused well-documented misery for farmers, harm to soil, water sources and the health of the population and a radical transformation of social relations in rural communities. And these issues apply not only to India but also to other countries.

That old advertising brochure dating from around the early 1960s encapsulates the arrogance of billionaires and their companies that think they are the hand of God, that they are the truth and the science, and that we should all be in awe of the technology they produce.

Facilitated by the likes of the Rockefeller Foundation and the Bill and Melinda Gates Foundation, they uproot highly productive traditional agriculture, saying it is deficient. They poison the soil, the food, the waterways and people. But that’s not enough. They pirate, own and genetically engineer the seeds. The chemicals and engineering do not result in more or better food. Quite the opposite. Diets have become narrower, and the nutritional content of many food items has progressively diminished (see McCance and Widdowson’s the Mineral Depletion of Foods). Moreover, food secure regions have become food insecure.

But it goes beyond this.

Consider the amount of killer-chemicals that the likes of Union Carbide’s promised techno-utopian consumer society (Union Carbide produced numerous other similar brochures to the one presented above, promoting the role of science and technology across all sectors) has gifted to humanity in everyday products from shampoos to toys, pans, packaging, sofas and tins.

It is notable that glyphosate, the world’s most used agricultural herbicide, began life as an industrial chelator of minerals in metal pipes to prevent blockages and deterioration. It now ensures mineral depletion/nutrient deficiencies in the human body. Glyphosate affects human soil – the gut microbiome – which directly feeds the major organs. Little wonder we witness a proliferation of illness and disease.

But forget about what has become modernism’s spiralling public health crisis – don’t forget to take that money-spinning experimental booster jab because, remember, they said that they really care about you and your health.

Meanwhile, bioscience parks across the world expand and promise an even more marvellous techno-dystopia than the one already created. They are working on injecting you with nanotechnology to ‘cure’ you of all the diseases that the modernist type of thinking, products and technology created in the first place – or on manipulating your DNA-physiology to hook you up to the internet (of things). The patents are there – this is not speculation.

And as these bioscience parks expand, their success is measured in annual turnover, profits and ‘growth’. They want more and more ‘talent’ to study life sciences and health subjects and to take up positions at the biotech companies. And they call for more public subsidies to facilitate this. More kids to study science so that they can be swept up into the ideology and practices of the self-sustaining paradigm of modern society.

Of course, ‘sustainability’ is the mantra. Sustainability in terms of fake-green, net-zero ideology but, more importantly, sustainable growth and profit.

Meanwhile, across the world, most notably in the Netherlands, these parks demand more land. More land for expansion and more land to house ‘global talent’ to be attracted to work. That means displacing farmers under the notion that they are the major emitters of ‘greenhouse gases’, which, in the Netherlands at least, they are clearly not. Look towards other sectors or even the US military if you require a prime example of a major polluter. But that’s not up for discussion, not least because military-related firms are often intertwined with the much-valued bioscience-business ‘ecosystems’ promoted.

And once the farmers have gone and the farmland is concreted over under the concept (in the Netherlands) of a Tristate City, do not worry – your ‘food’ will be created in a lab courtesy of biosynthetic, nanotechnological, biopharmaceutical, genetically engineered microbes and formulas created at the local bioscience park.

Any carbon-related pollution created by these labs will supposedly be ‘offset’ by a fraudulent carbon credit trading Ponzi scheme – part of which will mean buying up acres in some poor country to plant trees on the land of the newly dispossessed.

This brave new ecomodernism is to be overseen by supranational bodies like the UN and the WHO. National uniparty politicians will not be engaged in policy formation. They will be upholders of the elite-determined status quo – junior ‘stakeholders’ and technocratic overseers of an algorithm/AI-run system, ensuring any necessary tweaks are made.

Of course, not everything that happens under the banner of bioscience should be dismissed out of hand, but science is increasingly the preserve of an increasingly integrated global elite who have created the problems that they now rollout the ‘solutions’ for. It is a highly profitable growth industry – under the banner of ‘innovation’, cleaning up the mess you created.

But the disturbing trend is that the ‘science’ and the technology shall not be questioned. A wealthy financial-digital-corporate elite funds this science, determines what should be studied, how it should be studied and how the findings are disseminated and how the technology produced is to be used.

As we saw with the COVID event, this elite has the power to shut down genuine debate, prevent scrutiny of ‘the science’ and to smear and censor world-renowned scientists and others who even questioned the narrative. And it also pulls the strings of nation states so much so that former New Zealand PM Jacinda Arden said that her government is ‘the truth’. The marriage of science and politics in an Orwellian dystopia.

The prevailing thinking is that the problems of illness, hunger, malnutrition, unemployment, pollution, resource usage and so on are all to be solved down at the bioscience park by what farmer/author Chris Smaje says through technical innovation and further integration into private markets which are structured systematically by centralised power in favour of the wealthy.

The ecomodernist ideology we see embedded within the mindsets of those lobbying for more resources, land and funding have nothing much to say about how humanity got ill, infertile, poor, dispossessed, colonised, depressed, unemployed or marginalised in the first place. Driven by public funding, career progression and profit, they remain blinkered and push ahead with an ideology whose ‘solutions’ only produce more problems that call for more ‘innovation’ and more money.

At the same time, any genuine solutions are too often dismissed as being driven by ideology and ignorance that will lead us all to ruin. A classic case of projection.

As I have written previously, current hegemonic policies prioritise urbanisation, global markets, long supply chains, commodified corporate knowledge, highly processed food and market dependency at the expense of rural communities, independent enterprises and smallholder farms, local markets, short supply chains, indigenous knowledge, diverse agroecological cropping, nutrient-dense diets and food sovereignty.

And this has led us to where we are now.

Trade and agriculture policy specialist Devinder Sharma once said that we need family farms not family doctors. Imagine the reduction in illnesses and all manner of conditions. Imagine thriving local communities centred on smallholder production, nutrient-dense food and healthy people. Instead, we get sprawling bioscience parks centred on economic globalisation, sickness and the manipulation of food and human bodies.

Although a few thousand immensely powerful people are hellbent on marching humanity towards a dystopian ecomodernist future, we can, in finishing, take some inspiration from the words of John Seymour (1912-2004), a pioneer of the self-sufficiency movement.

Seymour was described as a one-man rebellion against modernism by writer and ecologist Herbert Girardet. But as a farmer himself, Seymour regarded himself a ‘crank peasant’ and offered solutions in terms of localism, small-scale economics, a return to the land and organic agriculture.

In a call to action, he stated:

The tiny amount you and I can do is hardly likely to bring the huge worldwide moloch of plundering industry down? Well, if you and I don’t do it, it will not be done, and the Age of Plunder will terminate in the Age of Chaos. We have to do it – just the two of us – just you and me. There is no ‘them’ – there is nobody else. Just you and me. On our infirm shoulders we must take up this heavy burden now… Tomorrow will be too late.”

We’re Living in a Neofeudal Bubble

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By Charles Hugh Smith

Source: Of Two Minds

If you listen to conventional economists, everything’s rosy: thanks to the expansion of alt-energy like wind and solar, energy is getting cheaper, batteries will power the new global economy, we’re getting smarter — just look at the rising number of advanced college degrees, wages are finally growing, inflation is trending down, household balance sheets and corporate profits are strong, debt loads are not an issue yet and GDP is rising.

All this happy news is backed by statistics, of course, but there’s one little problem: all the conventional cheerleaders are living in a bubble of like-minded elites who are insulated from the neofeudal realities of life in the real world.

Outside the bubble of wealthy, protected elites that generate the statistics and the “news,” the global economy is completely, totally neofeudal–and so is the American economy. What does neofeudal mean? It refers to a two-tiered socio-economic system in which an aristocracy owns the vast majority of the wealth and collects the lion’s share of the income, and uses this financial dominance to buy political and narrative dominance.

In a neofeudal arrangement, the machinery of governance protects and enforces elite dominance. Cartels and monopolies have free rein to price-fix and exploit, tax revenues flow freely to cartels, elite organizations such as family trusts get tax breaks, and so on.

In other words, “the market” is rigged and the government maintains the status quo.

Toiling away to enrich the aristocratic owners of capital are the serfs and peasants, who own a tiny shred of income-producing capital. Their primary assets–the family home and vehicles–are actually income streams for the wealthy who collect the mortgage and auto-loan interest paid by the serfs.

The core dynamic in neofeudalism is the already-wealthy increase their share of the wealth, and everyone else sees their meager share diminish. As the charts below show, the vast majority of financial gains generated by the US economy flow to the top 0.1% of households. The top 1%’s share has risen by 40% while the bottom 50%’s share of the wealth has slipped to 3%–essentially signal noise.

Social mobility is limited to the occasional serf clawing their way into the technocrat class, the top 5% who slavishly serve the interests of the financial aristocracy. This class lives in a self-contained, protected bubble: an echo chamber of privilege, residential enclaves, jetting around the world, and so on: everything’s great because we’re doing great.

Life is good in the bubble because there’s no homeless encampment a block away, there’s plenty of money coming in and our wealth–401Ks, inherited bonds and rental property, university pensions, corporate stock options, and so on–increases smartly, year after year and decade after decade.

The Wealthy Are Not Like You and Me–Our Terminally Stratified Society (8/3/23)

That all this wealth expansion is the result of unprecedented central bank intervention is left unsaid. As noted above, the role of the state and central bank is to maintain the status quo of the already-wealthy increasing their share of the national wealth and income, and loading more (very profitable) debt on the serfs. (See student loan debt chart below.)

Outside the technocrats’ privileged bubble, wages’ share of the economy have been stripmined by the aristocracy for 45 years. Oh dear; could this be why I’m having such trouble finding low-wage reliable “help”?

While wages inch up, costs of shelter, utilities, debt, vehicles, public transport, childcare and other essentials soar. Please glance at the chart of wages and rents below. This is neofeudalism in a nutshell. Wages have flatlined (or fallen when measured in purchasing power) while rent has steadily increased, eating away at the serfs’ disposable income.

Inside the technocrat class bubble, everything’s wunnerful. AI will boost profits (all of which flow to the aristocracy, so that’s wunnerful), energy’s getting cheaper and more abundant, and so on.

Oh, wait. Alt-energy only looks cheap because all the full lifetime costs have been ignored (i.e. externalized), and these modest additions to our vast hydrocarbon consumption aren’t actually replacing hydrocarbons, they’re simply adding more energy for us to consume.

Thousands of Old Wind Turbine Blades Pile Up in West Texas

Avangrid agrees to pay $48 million to terminate offshore wind deal

Models Hide the Shortcomings of Wind and Solar

In other words, conventional economists and the other technocrats maintain their privileged bubble by clinging to a delusionally disconnected-from-the-real-world mindset. There’s always a slew of academic papers or think-tank / corporate reports to bolster the inside-the-bubble confidence that everything’s great, because generating positive narratives that leave the neofeudal structure untouched in the primary industry of the technocrat class.

If you want to understand the neofeudal reality, study these charts. There are no rebuttals, there are only sputtering obfuscations: b-b-but the mission to Mars! Taylor Swift raked in a billion bucks! OnlyFans pulled in $5 billion! Stocks are rallying! Everything’s great!

Sure–if your dose of Delusional is high enough. Then you can go back to complaining about air travel delays, finding someone to repair your pool pump and bragging about how well your investments are doing.

Meet the New Normal, Same as the Old Normal: You Are Still the Enemy Within

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By Colin Todhunter

Source: Off-Guardian

Today, we are witnessing the nudging (manipulation) of the population to accept a ‘new normal’ based on a climate emergency narrative, restrictions on movement and travel, programmable digital money, ‘pandemic preparedness’ courtesy of the World Health Organization’s tyrannical pandemic treaty, unaccountable AI and synthetic ‘food’.

Whether it involves a ‘food transition’, an ‘energy transition’, 15-minute cities or some other benign-sounding term, all this is to be determined by a supranational ‘stakeholder’ elite with ordinary people sidelined in the process. An undemocratic agenda designed to place restrictions on individual liberty, marking a dramatic shift towards authoritarianism.

In the 1980s, to help legitimise the deregulation-privatisation neoliberal globalisation agenda, government and media instigated an ideological onslaught, driving home the primacy of ‘free enterprise’, individual rights and responsibility and emphasising a shift away from the role of the state, trade unions and the collective in society.

We are currently seeing another ideological shift: individual rights and freedoms are said to undermine the wider needs of society and the planet – in a stark turnaround – personal freedom is now said to pose a threat to national security, public health or the climate.

As in the 1980s, this messaging is being driven by an economic impulse. This time, the collapsing neoliberal project.

In the UK, poverty is increasing in two-thirds of communities, food banks are now a necessary part of life for millions of people and living standards are plummeting. Indeed, the poorest families are enduring a ‘frightening’ collapse in living standards, resulting in life-changing and life-limiting poverty).

In the US, around 30 million low-income people are on the edge of a ‘hunger cliff’ as a portion of their federal food assistance is taken away. In 2021, it was estimated that one in eight children were going hungry in the US. Small businesses are filing for bankruptcy in the US at a record rate.

The Bank of England’s chief economist, Huw Pill, says that people should ‘accept’ being poorer. This is similar to the response of Rob Kapito, co-founder of the world’s biggest asset management firm, BlackRock. In 2022, the unimaginably rich and entitled Kapito said that a “very entitled” generation of (ordinary working) people who have never had to sacrifice would soon have to face shortages for the first time in their lives.

While business as usual prevails in Kapito’s world of privilege and that of major arms, energy, pharmaceuticals and food companies, whose megarich owners continue to rake in massive profits, Kapito and Pill tell ordinary people to get used to poverty and the ‘new normal’ as if we are ‘all in it together’ – billionaires and working class alike. They conveniently use COVID and the situation in Ukraine as cover for the collapsing neoliberalism.

But this is part of the hegemonic agenda that seeks to ensure that the establishment’s world view is the accepted cultural norm. And anyone who challenges this world view – whether it involves, for instance, questioning climate alarmism, the ‘new normal’, the nature of the economic crisis, the mainstream COVID narrative or the official stance on Ukraine and Russia – is regarded as a spreader of misinformation and the ‘enemy within’.

Although the term ‘enemy within’ was popularised by Margaret Thatcher during the miners’ strike in 1984-85 to describe the striking miners, it is a notion with which that Britain’s rulers have regarded protest movements and uprisings down the centuries. From the Peasants’ Revolt in 1381 to the Levellers and Diggers in the 17th century, it is a concept associated with anyone or any group that challenges the existing social order and the interests of the ruling class.

John Ball, a radical priest, addressed the Peasants’ Revolt rebels with the following words:

Good friends, matters cannot go well in England until all things be held in common; when there shall be neither vassals nor lords; when the lords shall be no more masters than ourselves.”

The revolt was suppressed. John Ball was captured and hung, drawn and quartered. Part of the blood-soaked history of the British ruling class.

Later on, the 17th-century Diggers movement wanted to create small, egalitarian rural communities and farm on common land that had been privatised by enclosures.

The 1975 song ‘The world Turned Upside Down’ by Leon Rosselson commemorates the Diggers. His lyrics describe the aims and plight of the movement. In Rosselson’s words, the Diggers were dispossessed via theft and murder but reclaimed what was theirs only to be violently put down.

Little surprise then that, in the 1980s, Margaret Thatcher used the state machinery to defeat the country’s most powerful and trade union and the shock troops of the labour movement, the National Union of Mineworkers – ‘the enemy within’. She needed to do this to open the gates for capital to profit from the subsequent deindustrialisation of much of the UK and the dismantling of large parts of the welfare state.

And the result?

A hollowed-out, debt-bloated economy, the destruction of the social fabric of entire communities and the great financial Ponzi scheme – the ‘miracle’ of deregulated finance – that now teeters on the brink of collapse, leading the likes of Kapito and Pill to tell the public to get ready to become poor.

And now, in 2023, the latest version of the ‘enemy within’ disseminates ‘misinformation’ – anything that challenges the official state-corporate narrative. So, this time, one goal is to have a fully controlled (censored) internet.

For instance, US Special Operations Command (USSOCOM) recently awarded Accrete a contract for Argus to detect disinformation threats from social media. Argus is AI software that analyses social media data to predict emergent narratives and generate intelligence reports at a speed and scale to help neutralise viral disinformation threats.

Accrete AI is a leading dual-use enterprise AI company. It deployed its AI Argus software for open-source threat detection with the US Department of Defense in 2022.

In a recent press release, Prashant Bhuyan, founder and CEO of Accrete, boasts:

Social media is widely recognised as an unregulated environment where adversaries routinely exploit reasoning vulnerabilities and manipulate behaviour through the intentional spread of disinformation. USSOCOM is at the tip of the spear in recognising the critical need to identify and analytically predict social media narratives at an embryonic stage before those narratives evolve and gain traction. Accrete is proud to support USSOCOM’s mission.”

‍This is about predicting wrong think on social media. But control over the internet is just part of a wider programme of establishment domination, surveillance and dealing with protest and dissent.

The recent online article ‘How the Government Weaponizes Surveillance to Silence Its Critics’ notes that, on any given day, the average person in the US is monitored, spied on and tracked in more than 20 different ways.

The authors of the article ask us to consider some of the ways the US government is weaponizing its surveillance technologies to flag citizens as a threat to national security, whether or not they have done anything wrong – from flagging citizens as a danger based on their feelings, phone and movements to their spending activities, social media activities, political views and correspondence.

The elite has determined that the existential threat is you. The article ‘Costs of War: Peterloo’, written by UK Veterans for Peace member Aly Renwick, details the history of the brutal suppression of protesters by Britain’s rulers. He also strips away any notion that some may have of a benign, present-day ruling elite with democratic leanings. The leopard has not changed its spots.

As we saw during COVID, the thinking is that hard-won rights must be curtailed, freedom of association is reckless, free thinking is dangerous, dissent is to be stamped on, impartial science is a threat and free speech is deadly. Government is ‘the truth’, Fauci (or some similar figure) is ‘the science’ and censorship is for your own good.

None of this was justified. It only begins to make sense if we regard the COVID restrictions in terms of trying to deal with an economic crisis by closing down the global economy under cover of a public health crisis (see the online articles ‘What Was Covid Really About? Triggering a Multi-Trillion Dollar Global Debt Crisis’ and ‘Italy 2020: Inside Covid’s Ground Zero’ which outline how COVID policies can be explained by economic factors not health concerns).

The economic crisis is making many people poorer, so they must be controlled, monitored and subjugated.

The transitions mentioned at the start of this article along with the surveillance agenda (together known as the ‘Great Reset’) are being accelerated at this time of economic crisis when countless millions across the West are being impoverished. The collapsing financial system is resulting in an interrelated global debt, inflation and ‘austerity’ crisis and the biggest transfer of wealth to the rich in history.

As a result, the powers that be fear that the masses might once again pick up their pitchforks and revolt. They are adamant that the peasants must know their place.

But the flame of protest and dissent from centuries past still inspires and burns bright. So, with that in mind, let’s finish with Leon Rosselson’s lyrics in reference to the Diggers movement (Billy Bragg’s version of the song can be found on YouTube):

In sixteen forty-nine
To St. George’s Hill
A ragged band they called the Diggers
Came to show the people’s will
They defied the landlords
They defied the laws
They were the dispossessed reclaiming what was theirs

We come in peace they said
To dig and sow
We come to work the lands in common
And to make the waste grounds grow
This earth divided
We will makе whole
So it will be
A common treasury for all

Thе sin of property
We do disdain
No man has any right to buy and sell
The earth for private gain
By theft and murder
They took the land
Now everywhere the walls
Spring up at their command

They make the laws
To chain us well
The clergy dazzle us with heaven
Or they damn us into hell
We will not worship
The God they serve
The God of greed who feed the rich
While poor man starve

We work we eat together
We need no swords
We will not bow to masters
Or pay rent to the lords
We are free men
Though we are poor
You Diggers all stand up for glory
Stand up now

From the men of property
The orders came
They sent the hired men and troopers
To wipe out the Diggers’ claim
Tear down their cottages
Destroy their corn
They were dispersed
Only the vision lingers on

You poor take courage
You rich take care
The earth was made a common treasury
For everyone to share
All things in common
All people one
We come in peace
The order came to cut them down
We come in peace
The order came to cut them down

Our Collective Trauma is the Road to Tyranny

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American society spawns trauma and this trauma expresses itself in a variety of self-destructive pathologies, including the erosion of democracy and rise of neo-fascism.

Welcome In – by Mr. Fish

By Chris Hedges

Source: ScheerPost

Corporate capitalism, defined by the cult of the self and the ruthless exploitation of the natural world and all forms of life for profit, thrives on the fostering of chronic psychological and physical disorders. The diseases and pathologies of despair — alienation, high blood pressure, diabetes, anxiety, depression, morbid obesity, mass shootings (now almost two per day on average), domestic and sexual violence, drug overdoses (over 100,000 per year) and suicide (49,000 deaths in 2022) — are the consequences of a deeply traumatized society. 

The core traits of psychopaths — superficial charm, grandiosity and self-importance, a need for constant stimulation, a penchant for lying, deception, manipulation and the inability to feel remorse or guilt — are celebrated. The virtues of empathy, compassion and self-sacrifice, are belittled, neglected and crushed. The professions that sustain community, such as teaching, manual labor, the arts, journalism and nursing, are underpaid and overworked. The professions that exploit, such as those in high finance, Big Pharma, Big Oil and information technology, are lavished with prestige, money and power.

“The fact that millions of people share the same vices does not make these vices virtues, the fact that they share so many errors does not make the errors to be truths, and the fact that millions of people share the same forms of mental pathology does not make these people sane,” Eric Fromm writes in The Sane Society.

The classic works on trauma by Dr. Bessel van der Kolk, Dr. Gabor Maté and Dr. Judith Herman state bluntly that what is accepted as normal behavior in a corporate society is at war with basic human needs and our psychological and physical health. Huge segments of the American public, especially the tens of millions of people who have been discarded and marginalized, endure chronic trauma. Barbara Ehrenreich in “Nickel and Dimed: On (Not) Getting By in America” describes the life of the working poor as one long “emergency.”  This trauma is as destructive to us personally as it is socially and politically. It leaves us in a state of dysphoria where confusion, agitation, emptiness and loneliness define our lives. Whole segments of American society, especially the poor, have been rendered superfluous and invisible. As Dr. van der Kolk writes, “trauma is when we are not seen and known.”

“Our culture teaches us to focus on our personal uniqueness, but at a deeper level we barely exist as individual organisms,” Dr. van der Kolk notes.

Trauma numbs our capacity to feel. It fractures our self. It disconnects us from our bodies. It keeps us in a state of hyperarousal. It makes us confuse our desires, often artificially implanted by the consumer society, with our needs. Traumatized people view the world around them as hostile and dangerous. They lack a positive image of themselves and lose the capacity to trust. Many replace intimacy and love with sexual sadism, which is how we became a pornified culture. Trauma creates what the psychiatrist Robert Jay Lifton calls a “counterfeit” world defined by phantom enemies, lies and dark conspiracies. It negates a sense of purpose and a life of meaning. 

Trauma, Dr. Herman writes, “impels people both to withdraw from close relationships and to seek them desperately.” It induces feelings of shame, guilt, and inferiority, she writes, “as well as the need to avoid reminders of the trauma that occurs in daily life. Trauma severely compromises the capacity for intimacy. Trauma can dramatically reduce focus to extremely limited goals, often a matter of hours or days.” 

“If trauma entails a disconnection from the self, then it makes sense to say that we are being collectively flooded with influences that both exploit and reinforce trauma,” Dr. Maté writes. “Work pressures, multitasking, social media, news updates, multiplicities of entertainment sources — these all induce us to become lost in thoughts, frantic activities, gadgets, meaningless conversations. We are caught up in pursuits of all kinds that draw us on, not because they are necessary or inspiring or uplifting, or because they enrich or add meaning to our lives, but simply because they obliterate the present.”

Trauma also drives many to flee into the arms of those who are orchestrating the abuse.

Systematic and repetitive trauma, whether by a single abuser or a political system, destroys personal autonomy. The perpetrator becomes omnipotent. Resistance is accepted as futile. “The goal of the perpetrator is to instill in his victim not only fear of death but also gratitude for being allowed to live,” Dr. Herman writes. This trauma lays the foundation for the most insidious characteristic of all tyrannies, large and small. Total control. Prolonged trauma reduces its victims to a state of psychological infantilism. It conditions them to plead for their own enslavement.

“We are not content with negative obedience, not even with the most abject submission,” George Orwell wrote of the ruling “Inner Party” in his novel “1984.” “When finally you surrender to us, it must be of your own free will. We do not destroy the heretic because he resists us; so long as he resists us we never destroy him. We convert him, we capture his inner mind, we reshape him. We burn all evil and all illusion out of him; we bring him over to our side, not in appearance, but genuinely, heart and soul.”

Christian fascism, the subject of my book “American Fascists: The Christian Right and the War on America,” preys on this trauma. It replicates systems of control common to all tyrannies, including cults. Christian fascists skillfully break down adherents, severing them from their families and communities. They manipulate their shame, despair, feelings of worthlessness and guilt – the byproducts of their trauma – to demand total obedience to the church leadership, who are almost always white and male. These leaders, supposedly spokespeople for God, cannot be questioned or criticized. The connecting tissue among the disparate militia groups, QAnon conspiracy theorists, anti-abortion activists, right-wing patriot organizations, Second Amendment advocates, neo-Confederates and Trump supporters that stormed the Capitol on Jan. 6 is not only this Christian fascism but trauma.

“Totalitarian governments demand confession and political conversion of their victims,” Dr. Herman writes. “Slaveholders demand gratitude from their slaves. Religious cults demand ritualized sacrifices as a sign of submission to the divine will of the leader. Perpetrators of domestic battery demand that their victims prove complete obedience and loyalty by sacrificing all other relationships. Sex offenders demand that their victims find sexual fulfillment in submission. Total control over another person is the power dynamic at the heart of pornography. The erotic appeal of this fantasy to millions of terrifyingly normal men fosters an immense industry in which women and children are abused, not in fantasy but in reality.”

Donald Trump is a perpetrator and savior. He personifies the callous indifference of patriarchy, wealth, privilege and power towards the vulnerable, as well as the promise that once his cultish followers surrender to him they will be protected. He inspires in equal measure fear and solace.

“People who embrace the small tyrannies are much more susceptible to embracing the large ones,” Dr. Herman told me. “When you have a political party that embraces the subordination of women, the subordination of people of color, the subordination of gender non-conforming people, and the subordination of non-Christians, then it’s not a party that embraces democracy. It’s a party that is looking for a fascist leader and is going to find one.”

In Dr. van der Kolk’s “The Body Keeps Score: Brain, Mind, and Body in the Healing of Trauma,” he opens with stark statistics compiled by the Centers for Disease Control and Prevention showing that “one in five Americans was sexually molested as a child; one in four was beaten by a parent to the point of a mark being left on their body; and one in three couples engages in physical violence. A quarter of us grew up with alcoholic relatives, and one out of eight witnessed their mother being beaten or hit.”

The endemic trauma in American society, which is getting worse under the onslaught of the gig economy, pronounced social inequality, indiscriminate police violence, the climate crisis and the seizure of the political process and most institutions by corporations and the ruling oligarchs, is our most serious public health crisis. It has grave individual, social and political consequences. 

“If trauma is truly a social problem,” Dr. Herman in “Truth and Repair: How Trauma Survivors Envision Justice” writes, “then recovery cannot simply be a private individual matter. The wounds of trauma are not merely those caused by the perception of violence and exploitation. The actions or inactions of bystanders, all those who are complicit in or who prefer not to know about the abuse or who blame the victims, often cause deeper wounds.” “Full healing,” she adds, “because it originates in a fundamental injustice, requires a full hearing within the community to repair through some measure of justice the trauma survivors have endured.”

You can see my recent two-part interview with Dr. Herman here and here.You can see my interview with Dr. Maté here.

“Recovery has to take place in relationships,” Dr. Herman said in my interview. “When people feel reconnected to their communities and re-accepted in their communities, then the shame is relieved and the isolation is relieved, and that really creates the platform for healing.”

The key is community. Not virtual communities. But communities where we can reconnect and see in our wounds the wounds of others. It requires access, without onerous medical bills, to mental health professionals. It requires dismantling the corporate structures of oppression. It demands a new ethic, one that values empathy and self-sacrifice. We must reject the cynicism, indifference and cult of the self that all tyrannies inculcate in those they dominate to keep them passive. We must reach out to our neighbors, especially those in distress and those who are demonized. We must uncouple from consumer society and turn away from the allure of our cultural narcissism. 

The moral philosopher Bernard Williams argues that resentment and indignation are as important as empathy and connection to solidify social bonds. It is not only our own dignity we must protect, but the dignity of others. These “shared sentiments” he writes “bind people together in a community of feeling.” Acts of resistance around these “shared sentiments,” this “community of feeling,” establish ourselves as distinct, autonomous beings. We may not defeat these tyrannies, but by battling against them we free ourselves from the grip of the small and large tyrannies that deform American society.

From Burkina Faso to Niger to Gabon, Western Hegemony Dying in Africa

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By Harun Elbinawi

Source: Covert Geopolitics

Berlin Conference of 1884-1885 was undeniably one of the biggest evil summits in modern history. Greedy and racist European colonialists sat down in the German city and divided Africans as if they were sharing bread on a breakfast table.

The conference was organized by Otto von Bismarck, the first chancellor of Germany at the request of King Leopold II of Belgium, the Western genocidal barbarian that murdered more than 10 million innocent Africans in Congo.

Most Africans are not even aware of this genocide in Congo perpetrated by the Belgium colonialists because it is not in our history books written by the white colonialists.

European colonialism in Africa lasted more than a century with only the ancient Kingdom of Ethiopia spared because they defeated the Italian colonialists on the battlefield.

Trillions and trillions of dollars were stolen from Africa, millions of Africans were murdered by the European colonialists and Africans were massively brainwashed that they had no history before European colonialism.

The wave of ‘independence’ in Africa from the 1950s and 1960s did not represent true independence. What actually happened was that colonialism was cleverly replaced with neocolonialism by the genocidal imperialist barbarians of the West.

The massive looting of rich resources in Africa continued under Western puppet leadership. The courageous African leaders who refused to dance to the tune of the European colonialists were eliminated.

This was what happened to African heroes, Patrick Lumumba of Congo and Thomas Sankara of Burkina Faso. Congo has all mineral resources except for crude oil.

The uranium used by the US regime to make the atomic bombs unleashed on Hiroshima and Nagasaki was mined in Congo.

French greed in Africa

Among the European colonialists, French colonialism was more brutal and exploitative.

France killed more than 1.5 million civilians in Algeria alone. They murdered tens of thousands of civilians in other African countries.

One of the Modus Operandi of the French colonialists was to assemble Islamic scholars in a hall and exterminate all of them. They did this in Algeria, Chad, Mali and Senegal.

And the greed of their neocolonialism is extreme. Even after independence, France is still controlling the wealth of its former colonies in Africa.

The rich resources of French nations are still controlled by France and they continue to pay colonial tax to France.

French goods and services dominate their markets. The domineering presence of France in these countries has been excruciating and devastating for local populations.

Niger Republic does not know the quantity of uranium France was taking from there, which is worst than slavery.

No evil lasts forever

There is a popular saying that “No evil lasts forever”.

France’s neocolonialism in Africa will not last forever. Popular military coups against puppets of France imperialism have started and are gathering momentum.

The recent military coup in the West African state of Niger Republic does not stand in isolation but follows similar upheavals in the neighboring countries of Mali, Burkina Faso, and Guinea in recent years.

Mali is facing insurgency that is backed by Western hegemony. Mali expelled French troops because they were actively aiding the insurgents to justify its military presence in the African country.

Now, on Wednesday, we woke up with the news of another puppet of the Western hegemonic barbarians in Gabon overthrown by the military. Ali Bango inherited the Gabon presidency from his corrupt Father, Omar Bongo.

Early on Wednesday, some military personnel appeared on state TV and announced that they were seizing power and dislodging a family that has ruled the country for 56 years.

The military officers introduced themselves as members of the Committee of Transition and the Restoration of Institutions.

“Today the country is undergoing a severe institutional, political, economic, and social crisis,” the officers said in a statement, dubbing the recent election illegitimate.

“In the name of the Gabonese people … we have decided to defend the peace by putting an end to the current regime.”

Pertinently, Gabon’s former president had 70 bank accounts, 39 apartments, 2 Ferraris, 6 Mercedes Benz cars, 3 Porsches and a Bugatti in France. He ruled for 42 years (from 1967 to 2009). French leaders loved Bongo because he was loyal to them.

His son, Ali Bongo has been the president for 14 years (2009 – 2023). He has just been overthrown in a  coup.

Failure of Western liberal democracy

The fact is that the Western liberal democracy has not only failed in Africa but has failed woefully.

Democracy in Africa has become a tool for the corrupt ruling elites to steal the wealth of their respective countries and transfer it to Western financial institutions while the populations remain in abject poverty and hunger.

Democracy is just another system of government hijacked by the Western hegemonic barbarians, the biggest enemies of the human race. Democracy is now an imperialist tool of Western hegemony in Africa. This is a bitter and undeniable fact.

The people of Gabon will definitely celebrate this military coup as it marks the end of French interference and looting in their country. Another setback for the French leaders.

Africa must rise again

The most noticeable current in Mali, Burkina Faso, Guinea, Niger Republic and Gabon is that the change of governments all have popular support as the people of those countries are tired of France’s imperialism, arrogance and terrorism.

Today France has the 4th largest gold reserves in the world and there is no single gold mine in France.

These gold mines are all in Mali, Niger Republic and other African countries. The France neocolonialism in Africa must end. Its time has come.

BRICS 11 – Strategic Tour de Force

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By Pepe Escobar

Source: The Unz Review

Chinese President Xi Jinping defined all the major decisions embedded in the 15th BRICS summit in South Africa as “historic”. That may be seen as an understatement.

It will take time for the Global South, or Global Majority, or “Global Globe” (copyright President Lukashenko), not to mention the stunned collective West, to fully grasp the enormity of the new strategic stakes.

President Putin, for his part, described the negotiations on BRICS expansion as quite difficult. By now a relatively accurate picture is emerging of what really went down on that table in Johannesburg.

India wanted 3 new members. China wanted as many as 10. A compromise was finally reached, with 6 members: Egypt, Iran, Saudi Arabia, United Arab Emirates (UAE), Argentina and Ethiopia.

So from now on it’s BRICS 11. And that’s just the beginning. Starting with the rotating Russian presidency of BRICS on January 1, 2024, more partners will be progressively included, and most certainly a new round of full members will be announced at the BRICS 11 summit in Kazan in October next year.

So we may soon progress to BRICS 20 – on the way to BRICS 40. The G7, for all practical purposes, is sliding towards oblivion.

Bur first things first. At that fateful table in Johannesburg, Russia supported Egypt. China went all out for Persian Gulf magic: Iran, UAE and the Saudis. Of course: Iran-China are already deep into a strategic partnership, and Riyadh is already accepting payment for energy in yuan.

Brazil and China supported Argentina, Brazil’s troubled neighbor, running the risk of having its economy fully dollarized, and also a key commodity provider to Beijing. South Africa supported Ethiopia. India, for a series of very complex reasons, was not exactly comfortable with 3 Arab/Muslim members (Saudi Arabia, UAE, Egypt). Russia assuaged New Delhi’s fears.

All of the above respects geographic principles and imprints the notion of BRICS representing the Global South. But it goes way beyond that, blending cunning strategy and no-nonsense realpolitik.

India was mollified because Russian Foreign Minister Sergey Lavrov, at the table in Johannesburg negotiating on behalf of President Putin, and highly respected by New Delhi, fully understood that a new, single BRICS currency is a long way away. What really matters, short and medium term, is expanding intra-BRICS trade in their national currencies.

That was stressed by New Development Bank (NDB) president Dilma Rousseff in her report to the South African summit hosts – even as Brazilian President Lula once again emphasized the importance of setting up a work group to discuss a BRICS currency.

Lavrov understood how New Delhi is absolutely terrified of secondary sanctions by the US, in case its BRICS role gets too ambitious. Prime Minister Modi is essentially hedging between BRICS and the completely artificial imperial obsession embedded in the terminology “Indo-Pacific” – which masks renewed containment of China. The Straussian neo-con psychos in charge of US foreign policy are already furious with India buying loads of discounted Russian oil.

New Delhi’s support for a new BRICS currency would be interpreted in Washington as all-out trade war – and sanctions dementia would follow. In contrast, Saudi Arabia’s MbS doesn’t care: he’s a top energy producer, not consumer like India, and one of his priorities is to fully court his top energy client, Beijing, and pave the way for the petroyuan.

It Takes Just a Single Strategic Move

Now let’s get into the strategic stakes. For all practical purposes, in Eurasian terms, BRICS 11 is now on the way to lord over the Arctic Sea Route; the International North South Transportation Corridor (INSTC); BRI’s East West Corridors; the Persian Gulf; the Red Sea; and the Suez Canal.

That blends several overland corridors with several nodes of the Maritime Silk Roads. Nearly total integration in the Heartland and the Rimland. All with just a single strategic move in the geopolitical/geoeconomic chessboard.

Much more than an increase of BRICS 11 collective GDP to 36% of the world’s total (already larger than the G7), with the group now encompassing 47% of the world’s population, the top geopolitical and geoeconomic breakthrough is how BRICS 11 is about to literally break the bank on the energy and commodities market fronts.

By incorporating Iran, Saudi Arabia and the UAE, BRICS 11 instantly shines on as an oil and gas powerhouse. BRICS 11 now controls 39% of global oil exports; 45.9% of proven reserves; and at least 47.6% of all oil produced globally, according to InfoTEK.

With BRICS 11 possibly including Venezuela, Algeria and Kazakhstan as new members as early as in 2024, it may control as much as 90% of all oil and gas traded globally.

Inevitable corollary: operations settled in local currencies bypassing the US dollar. And inevitable conclusion: petrodollar in a coma. The Empire of Chaos and Plunder will lose its free lunch menu: control of global oil prices and means to enforce “diplomacy” via a tsunami of unilateral sanctions.

Already in the horizon, direct BRICS 11-OPEC+ symbiosis is inevitable. OPEC+ is effectively run by Russia and Saudi Arabia.

A ground-shaking geoeconomic reorientation is at hand, involving everything from routes plied by global supply chains and new BRICS roads to the progressive interconnection of BRI, the Saudi Vision 2030 and massive port expansion in the UAE.

By choosing Ethiopia, BRICS expands its African reach on mining, minerals and metals. Ethiopia is rich in gold, platinum, tantalum, copper, niobium and offers vast potential in oil and natural gas exploration. Saudi Arabia and the UAE, incidentally, are also involved in mining.

This all spells out fast, progressive integration of North Africa and West Asia.

How Diplomacy Goes a Long Way

The BRICS 11 Shock of the New, in the energy sphere, is a sharp historical counterpoint to the 1973 oil shock, after which Riyadh started wallowing in petrodollars. Now Saudi Arabia under MbS is operating a tectonic shift, in the process of becoming strategically aligned with Russia-China-India-Iran.

Diplomatic coup does not even begin to describe it. This is the second stage of the Russian-initiated and Chinese-finalized rapprochement between Riyadh and Tehran, recently sealed in Beijing. The Russia-China strategic leadership, working patiently in synch, never lost sight of the ball.

Now compare it with collective West’s “strategies”, such as the G7-imposed oil price cap. Essentially the G7 “coalition of the willing” self-imposed a price cap on Russian crude imported by sea. The result is that they had to start buying way more oil products from Global South nations which ignored the price cap and duly increased their purchase of Russian crude.

Guess who are the top two: BRICS members China and India.

After wallowing in several stages of denial, the collective West may – or may not – realize it’s a fool’s dream to attempt to “de-couple” the West-ruled part of the global economy from China, whatever is spewed out by Washington.

BRICS 11 now shows, graphically, how the “Global South/Global Majority/”Global Globe” is more non-aligned with the West than anytime in recent history.

By the way, the president of the G77, Cuban leader Diaz-Canel, was at the BRICS summit representing the de-facto new Non-Aligned Movement (NAM): the G77 actually incorporates no less than 134 nations. Most are African. Xi Jinping in Johannesburg met in person with the leaders of most of them.

The collective West, in panic, regards all of the above as “dangerous”. So the last refuge is, predictably, rhetorical: “de-coupling”, “de-risking”, and similar idiocies.

Yet that may also get practically dangerous. As in the first ever trilateral summit in Camp David on August 18 between the Empire and two Asian vassals, Japan and South Korea. That may be interpreted as the first move towards a military-political Asian NATO even more toxic than Quad or AUKUS, obsessed to simultaneously contain China, Russia and the DPRK.

The Collective Outstripping of the Global North

The UN lists 152 nations in the world as “developing countries”. BRICS 11 is aiming at them – as they outstrip the Global North on everything from population growth to overall contribution to global GDP growth measured by PPP.

In the past 10 years since the announcement of BRI first in Astana and then in Jakarta, Chinese financial institutions have lent nearly $1 trillion for infrastructure connectivity projects across the Global South. The upcoming BRI forum in Beijing will signal a renewed drive. That’s the BRI-BRICS symbiosis.

In the G20 last year, China was the first nation to lobby for the inclusion of the 55-member African Union (AU). That may happen at the G20 summit next month in New Delhi; in that case, Global South representation will be close to parity with the Global North.

Claims that Beijing was organizing a malign conspiracy to turn BRICS into a weapon against the G7 are infantile. Realpolitik – and geoeconomic indicators – are dictating the terms, configuring the Shock of the New: the G7’s irreversible irrelevance with the rise of BRICS 11.