Global Planned Financial Tsunami Has Just Begun

By F. William Engdahl

Source: Global Research

Since the creation of the US Federal Reserve over a century ago, every major financial market collapse has been deliberately triggered for political motives by the central bank. The situation is no different today, as clearly the US Fed is acting with its interest rate weapon to crash what is the greatest speculative financial bubble in human history, a bubble it created. Global crash events always begin on the periphery, such as with the 1931 Austrian Creditanstalt or the Lehman Bros. failure in September 2008. The June 15 decision by the Fed to impose the largest single rate hike in almost 30 years as financial markets are already in a meltdown, now guarantees a global depression and worse.

The extent of the “cheap credit” bubble that the Fed, the ECB and Bank of Japan have engineered with buying up of bonds and maintaining unprecedented near-zero or even negative interest rates for now 14 years, is beyond imagination. Financial media cover it over with daily nonsense reporting , while the world economy is being readied, not for so-called “stagflation” or recession. What is coming now in the coming months, barring a dramatic policy reversal, is the worst economic depression in history to date. Thank you, globalization and Davos.

Globalization

The political pressures behind globalization and the creation of the World Trade Organization out of the Bretton Woods GATT trade rules with the 1994 Marrakesh Agreement, ensured that the advanced industrial manufacturing of the West, most especially the USA, could flee offshore, “outsource” to create production in extreme low wage countries. No country offered more benefit in the late 1990s than China. China joined WHO in 2001 and from then on the capital flows into China manufacture from the West have been staggering. So too has been the buildup of China dollar debt. Now that global world financial structure based on record debt is all beginning to come apart.

When Washington deliberately allowed the September 2008 Lehman Bros financial collapse, the Chinese leadership responded with panic and commissioned unprecedented credit to local governments to build infrastructure. Some of it was partly useful, such as a network of high-speed railways. Some of it was plainly wasteful, such as construction of empty “ghost cities.” For the rest of the world, the unprecedented China demand for construction steel, coal, oil, copper and such was welcome, as fears of a global depression receded. But the actions by the US Fed and ECB after 2008, and of their respective governments, did nothing to address the systemic financial abuse of the world’s major private banks on Wall Street and Europe , as well as Hong Kong.

The August 1971 Nixon decision to decouple the US dollar, the world reserve currency, from gold, opened the floodgates to global money flows. Ever more permissive laws favoring uncontrolled financial speculation in the US and abroad were imposed at every turn, from Clinton’s repeal of Glass-Steagall at the behest of Wall Street in November 1999. That allowed creation of mega-banks so large that the government declared them “too big to fail.” That was a hoax, but the population believed it and bailed them out with hundreds of billions in taxpayer money.

Since the crisis of 2008 the Fed and other major global central banks have created unprecedented credit, so-called “helicopter money,” to bailout the major financial institutions. The health of the real economy was not a goal. In the case of the Fed, Bank of Japan, ECB and Bank of England, a combined $25 trillion was injected into the banking system via “quantitative easing” purchase of bonds, as well as dodgy assets like mortgage-backed securities over the past 14 years.

Quantitative madness

Here is where it began to go really bad. The largest Wall Street banks such as JP MorganChase, Wells Fargo, Citigroup or in London HSBC or Barclays, lent billions to their major corporate clients. The borrowers in turn used the liquidity, not to invest in new manufacturing or mining technology, but rather to inflate the value of their company stocks, so-called stock buy-backs, termed “maximizing shareholder value.”

BlackRock, Fidelity, banks and other investors loved the free ride. From the onset of Fed easing in 2008 to July 2020, some $5 trillions had been invested in such stock buybacks, creating the greatest stock market rally in history. Everything became financialized in the process. Corporations paid out $3.8 trillion in dividends in the period from 2010 to 2019. Companies like Tesla which had never earned a profit, became more valuable than Ford and GM combined. Cryptocurrencies such as Bitcoin reached market cap valuation over $1 trillion by late 2021. With Fed money flowing freely, banks and investment funds invested in high-risk, high profit areas like junk bonds or emerging market debt in places like Turkey, Indonesia or, yes, China.

The post-2008 era of Quantitative Easing and zero Fed interest rates led to absurd US Government debt expansion. Since January 2020 the Fed, Bank of England, European Central Bank and Bank of Japan have injected a combined $9 trillion in near zero rate credit into the world banking system. Since a Fed policy change in September 2019, it enabled Washington to increase public debt by a staggering $10 trillion in less than 3 years. Then the Fed again covertly bailed out Wall Street by buying $120 billion per month of US Treasury bonds and Mortgage-Backed Securities creating a huge bond bubble.

A reckless Biden Administration began doling out trillions in so-called stimulus money to combat needless lockdowns of the economy. US Federal debt went from a manageable 35% of GDP in 1980 to more than 129% of GDP today. Only the Fed Quantitative Easing, buying of trillions of US government and mortgage debt and the near zero rates made that possible. Now the Fed has begun to unwind that and withdraw liquidity from the economy with QT or tightening, plus rate hikes. This is deliberate. It is not about a stumbling Fed mis-judging inflation.

Energy drives the collapse

Sadly, the Fed and other central bankers lie. Raising interest rates is not to cure inflation. It is to force a global reset in control over the world’s assets, it’s wealth, whether real estate, farmland, commodity production, industry, even water. The Fed knows very well that Inflation is only beginning to rip across the global economy. What is unique is that now Green Energy mandates across the industrial world are driving this inflation crisis for the first time, something deliberately ignored by Washington or Brussels or Berlin.

The global shortages of fertilizers, soaring prices of natural gas, and grain supply losses from global draught or exploding costs of fertilizers and fuel or the war in Ukraine, guarantee that, at latest this September-October harvest time, we will undergo a global additional food and energy price explosion. Those shortages all are a result of deliberate policies.

Moreover, far worse inflation is certain, due to the pathological insistence of the world’s leading industrial economies led by the Biden Administration’s anti-hydrocarbon agenda. That agenda is typified by the astonishing nonsense of the US Energy Secretary stating, “buy E-autos instead” as the answer to exploding gasoline prices.

Similarly, the European Union has decided to phase out Russian oil and gas with no viable substitute as its leading economy, Germany, moves to shut its last nuclear reactor and close more coal plants. Germany and other EU economies as a result will see power blackouts this winter and natural gas prices will continue to soar. In the second week of June in Germany gas prices rose another 60% alone. Both the Green-controlled German government and the Green Agenda “Fit for 55” by the EU Commission continue to push unreliable and costly wind and solar at the expense of far cheaper and reliable hydrocarbons, insuring an unprecedented energy-led inflation.

Fed has pulled the plug

With the 0.75% Fed rate hike, largest in almost 30 years, and promise of more to come, the US central bank has now guaranteed a collapse of not merely the US debt bubble, but also much of the post-2008 global debt of $303 trillion. Rising interest rates after almost 15 years mean collapsing bond values. Bonds, not stocks, are the heart of the global financial system.

US mortgage rates have now doubled in just 5 months to above 6%and home sales were already plunging before the latest rate hike. US corporations took on record debt owing to the years of ultra-low rates. Some 70% of that debt is rated just above “junk” status. That corporate non-financial debt totaled $9 trillion in 2006. Today it exceeds $18 trillion. Now a large number of those marginal companies will not be able to rollover the old debt with new, and bankruptcies will follow in coming months. The cosmetics giant Revlon just declared bankruptcy.

The highly-speculative, unregulated Crypto market, led by Bitcoin, is collapsing as investors realize there is no bailout there. Last November the Crypto world had a $3 trillion valuation. Today it is less than half, and with more collapse underway. Even before the latest Fed rate hike the stock value of the US megabanks had lost some $300 billion. Now with stock market further panic selling guaranteed as a global economic collapse grows, those banks are pre-programmed for a new severe bank crisis over the coming months.

As US economist Doug Noland recently noted, “Today, there’s a massive “periphery” loaded with “subprime” junk bonds, leveraged loans, buy-now-pay-later, auto, credit card, housing, and solar securitizations, franchise loans, private Credit, crypto Credit, DeFi, and on and on. A massive infrastructure has evolved over this long cycle to spur consumption for tens of millions, while financing thousands of uneconomic enterprises. The “periphery” has become systemic like never before. And things have started to Break.”

The Federal Government will now find its interest cost of carrying a record $30 trillion in Federal debt far more costly. Unlike the 1930s Great Depression when Federal debt was near nothing, today the Government, especially since the Biden budget measures, is at the limits. The US is becoming a Third World economy. If the Fed no longer buys trillions of US debt, who will? China? Japan? Not likely.

Deleveraging the bubble

With the Fed now imposing a Quantitative Tightening, withdrawing tens of billions in bonds and other assets monthly, as well as raising key interest rates, financial markets have begun a deleveraging. It will likely be jerky, as key players like BlackRock and Fidelity seek to control the meltdown for their purposes. But the direction is clear.

By late last year investors had borrowed almost $1 trillion in margin debt to buy stocks. That was in a rising market. Now the opposite holds, and margin borrowers are forced to give more collateral or sell their stocks to avoid default. That feeds the coming meltdown. With collapse of both stocks and bonds in coming months, go the private retirement savings of tens of millions of Americans in programs like 401-k. Credit card auto loans and other consumer debt in the USA has ballooned in the past decade to a record $4.3 trillion at end of 2021. Now interest rates on that debt, especially credit card, will jump from an already high 16%. Defaults on those credit loans will skyrocket.

Outside the US what we will see now, as the Swiss National Bank, Bank of England and even ECB are forced to follow the Fed raising rates, is the global snowballing of defaults, bankruptcies, amid a soaring inflation which the central bank interest rates have no power to control. About 27% of global nonfinancial corporate debt is held by Chinese companies, estimated at $23 trillion. Another $32 trillion corporate debt is held by US and EU companies. Now China is in the midst of its worst economic crisis since 30 years and little sign of recovery. With the USA, China’s largest customer, going into an economic depression, China’s crisis can only worsen. That will not be good for the world economy.

Italy, with a national debt of $3.2 trillion, has a debt-to-GDP of 150%. Only ECB negative interest rates have kept that from exploding in a new banking crisis. Now that explosion is pre-programmed despite soothing words from Lagarde of the ECB. Japan, with a 260% debt level is the worst of all industrial nations, and is in a trap of zero rates with more than $7.5 trillion public debt. The yen is now falling seriously, and destabilizing all of Asia.

The heart of the world financial system, contrary to popular belief, is not stock markets. It is bond markets—government, corporate and agency bonds. This bond market has been losing value as inflation has soared and interest rates have risen since 2021 in the USA and EU. Globally this comprises some $250 trillion in asset value a sum that, with every fed interest rise , loses more value. The last time we had such a major reverse in bond values was forty years ago in the Paul Volcker era with 20% interest rates to “squeeze out inflation.”

As bond prices fall, the value of bank capital falls. The most exposed to such a loss of value are major French banks along with Deutsche Bank in the EU, along with the largest Japanese banks. US banks like JP MorganChase are believed to be only slightly less exposed to a major bond crash. Much of their risk is hidden in off-balance sheet derivatives and such. However, unlike in 2008, today central banks can’t rerun another decade of zero interest rates and QE. This time, as insiders like ex-Bank of England head Mark Carney noted three years ago, the crisis will be used to force the world to accept a new Central Bank Digital Currency, a world where all money will be centrally issued and controlled. This is also what Davos WEF people mean by their Great Reset. It will not be good. A Global Planned Financial Tsunami Has Just Begun.

The Empire Is Showing More And More Of Its True Face

By Caitlin Johnstone

Source: CaitlinJohnstone.com

Genocide walrus John Bolton outright admitted to planning foreign coups with the US government in conversation with CNN’s Jake Tapper on Wednesday. That’s coups, plural.

While arguing that the Capitol riot on January 6th of last year was not an attempted coup but rather just Trump stumbling around trying to look after his own interests, Bolton hastened to pull authority on the matter when Tapper suggested that he might not be correct about how coups work.

“I disagree with that,” Bolton said. “As somebody who has helped plan coups d’etat — not here, but, you know, other places — it takes a lot of work, and that’s not what [Trump] did.”

Places. Plural.

Tapper just let Bolton’s remark slide like he didn’t just admit to something extraordinarily fiendish, but did eventually follow up with a request that the former National Security Advisor elaborate.

“I do want to ask a follow up,” Tapper said. “When we were talking about what is capable, or what you need to do to be able to plan a coup, and you cited your expertise having planned coups.”

“I’m not going to get into the specifics,” replied Bolton with a chuckle.

“Successful coups?” Tapper asked.

“Well, I wrote about Venezuela in the book,” Bolton answered. “And it turned out not to be successful – not that we had all that much to do with it, but I saw what it took for an opposition to try and overturn an illegally elected president, and they failed. The notion that Donald Trump was half as competent as the Venezuelan opposition is laughable.”

“I feel like there’s other stuff you’re not telling me, though,” Tapper responded.

“I’m sure there is,” Bolton said, grinning like he just finished boiling a puppy.

Tapper pursued the matter no further, because he is a propagandist first and a journalist second, and he would be acutely aware that Bolton was saying things that you are not supposed to admit to on television.

Bolton’s sole admission to coup plotting runs counter to his comments about the US government’s failed attempt to oust President Nicolas Maduro while he was facilitating that bizarre operation under the Trump administration, telling reporters in 2019 that the empire’s Venezuela shenanigans were “clearly not a coup.”

In other examples of the US empire just rearing its ugly head right out in broad daylight, an excellent new report by Alan MacLeod with Mintpress News shows that Facebook/Instagram parent company Meta has been hiring dozens of people who previously worked in the US intelligence cartel to help regulate what content gets seen on the social media giant’s platforms. Some were hired from straight out of the CIA or had (officially) left the agency very recently.

The CIA used to infiltrate the media. Now the CIA is the media. This trend of openly hiring US intelligence veterans to help teach the public what thoughts to think about the world began a few years ago in the legacy media, and now we’re seeing it in the new media as well.

This is part of a broader trend in which many of the ugly things the US empire used to do in secret it now does openly with the aid of propaganda spin. In addition to attempting coups right out in the open as we saw in Venezuela and just giving intelligence insiders positions of influence within both new and old media institutions, you’ve got things like the US government-funded National Endowment for Democracy (NED), which according to its own founding officials was set up to do overtly what the CIA used to do covertly.

We see NED’s fingerprints all over pretty much any situation where the western power alliance needs to manage public perception about a CIA-targeted government, from Ukraine to Russia to Hong Kong to Xinjiang, to the imperial propaganda firm known as Bellingcat. Rather than manipulate world narratives and foment discontent from behind the veil of hidden identities and cutouts as in CIA tactics of old, NED just manipulates them openly by pouring funds into narrative management operations which benefit the empire while framing it as promoting democracy and human rights.

Then you’ve got things like American officials telling the press that the US government has been circulating disinformation about Russia and Ukraine, Biden administration officials saying the proxy war in Ukraine is being used to “weaken” Russia and that they are fine with US brinkmanship with Russia causing global recession and hunger, and western officials telling the press that Ukraine is crawling with CIA personnel.

What the empire has found is that you don’t need to hide as much from public visibility as long as you can manipulate what people think they’re seeing. If the public is sufficiently propagandized and consent has been adequately manufactured, you can get away with just proclaiming some random guy the president of a foreign country and seeing if you can manipulate the rest of the world into playing along with you.

If your narrative control is strong enough, you can even keep the empire running smoothly when information gets out into the open that you’d rather stay hidden. Very often these days major stories about imperial malfeasance will come out that simply have no impact, either because the mainstream news media unite to ignore them or because they spin those revelations as coming from someone bad or not containing important information.

People tend to overrate the power of the US war machine and underrate the power of the US propaganda machine. While the US military finds itself losing a war to the Taliban, the awesome power of its propaganda engine has people marching in perfect alignment with the will of the oligarchic empire.

When I was in an abusive relationship, the more ground down and submitted I became the more my abuser would flaunt his abusiveness in the plain light of day. Toward the end he was just outright admitting he was a sociopath and a manipulator and openly telling me he was going to do monstrous things to me before he did them, because he was that confident that he had me wrapped around his finger.

Luckily, he was wrong. And hopefully the empire is wrong as it makes this same calculation with all of us.

Thanks To The Rapidly Imploding U.S. Economy, Joe Biden’s Poll Numbers Have Plunged To Unprecedented Levels

By Michael Snyder

Source: Economic Collapse Blog

These are not good times for Joe Biden.  When the U.S. economy is performing well whoever is in the White House is going to get most of the credit.  Likewise, when the U.S. economy is performing poorly whoever is in the White House is going to get most of the blame.  That is just the way that it is, and that is one of the primary reasons why most Americans are quite displeased with Joe Biden right now.  Things are not going well at all, and the outlook for the months ahead is even worse.  The American people are becoming increasingly frustrated, and a new Gallup poll that was just released discovered that “confidence” in the presidency has fallen to the lowest level ever recorded

President Joe Biden has pushed the presidency to a place it hasn’t been in nearly 50 years.

In the latest Gallup poll, less than a quarter of those surveyed have “confidence” in the presidency, worse than during the Trump presidency and nearly as bad as the end of the George W. Bush presidency.

Going back to 1975, Gallup has never recorded a confidence reading as low as Biden’s 23%.

Other polls have come up with similarly stunning results.  For example, a different survey that was just released discovered that a whopping 88 percent of all Americans believe that the nation is heading in the wrong direction…

The White House was faced with another dire poll Tuesday that found that 54 percent of Americans believe the middle class hasn’t benefited ‘at all’ from President Joe Biden’s policies.

On top of that, the new Monmouth University Poll found that 88 percent of Americans surveyed said the country was headed in the wrong direction – with just 10 percent saying it’s headed the right way – a record low.

Just think about that.

88 percent.

In this day and age, it is difficult to get 88 percent of Americans to agree on anything.

But almost all of us seem to agree that the country is going downhill, and according to that same survey Americans are currently more concerned about economic matters than anything else

Nearly half those surveyed said inflation and gas were the biggest concerns currently facing their families, with 33 percent saying inflation and 15 percent pointing to fuel costs.

A lot of people out there don’t really care much about what is going on in the world until it starts affecting their personal finances.

And these days the American people are feeling a tremendous amount of pain.

In fact, the consumer confidence index that is put out by the University of Michigan just fell to an all-time record low

The University of Michigan’s gauge of consumer sentiment fell sharply to a record-low reading of 50.2, down from a May reading of 58.4. Economists polled by the Wall Street Journal had expected an June reading of 59.

The level is comparable to the low point reached in the middle of the 1980 recession, the university said.

The American people have never been more pessimistic about the economy.

Ever.

And we have a guy in the White House that has a really difficult time even putting a coherent sentence together at this point.

Of course the team around Biden is not exactly competent either.

Time after time, the Biden administration has made colossal blunders.  This week, we learned that someone in the Biden administration apparently thought that it would be a good idea to send oil from our strategic petroleum reserve to China

Because he hates Americans, President Joe Biden is shipping much-needed American oil to foreign countries, including… China.

The whole idea of the Strategic Petroleum Reserve (SPR), which is owned by the U.S. government, specifically the U.S. Department of Energy, is to hold on to about 700 million barrels of oil in the event of an emergency or disruption.

I was floored when I first read that.

Who would be stupid enough to do such a thing?

Someday we are going to need the oil in the strategic petroleum reserve, and hopefully there will be some left when that moment finally arrives.

This week we have also been getting more numbers that indicate that the economic slowdown in the United States appears to be picking up speed.

According to LinkedIn, hiring in the U.S. is really starting to fall off

LinkedIn, a unit of Microsoft, saw its hiring rate fall 5.4% month over month in June on a seasonally adjusted basis, the lowest level since December 2021, according to new data released on Friday. On an annual basis, the employment platform’s hiring rate tumbled 11.9% in June.

LinkedIn’s hiring rate is calculated based on the percentage of the platform’s members who added a new employer to their profile in the same month the new job began divided by the total number of LinkedIn members in the United States.

And we just learned that new vehicle sales during the month of June were depressingly low

Automakers have now reported their June new vehicle sales, or their Q2 new vehicle sales, for the US, except Tesla, which doesn’t report US sales but only global sales. All automakers, even Toyota, and now even Tesla, are struggling with the ongoing semiconductor shortages, and they started the month of June with desperately low inventories on dealer lots and in transit.

And so new vehicle sales in June plunged by 13.5% from the already horribly beaten-down June 2021, to 1.127 million vehicles, and collapsed by 25% from June 2019, the last decent year in the industry, according to data released by the Bureau of Economic Analysis today

It appears that a recession is already here, and the months ahead are going to be really tough.

So I would encourage you to get out of debt.

And I would also encourage you to build up your emergency fund.

This is not a time to fritter away your money on unnecessary things.  You want to put yourself in the best position possible to weather the “perfect storm” that is ahead, because things certainly aren’t going to be getting easier from here.

As the economy deteriorates, the frustration of the American people is going to get deeper and deeper.

Needless to say, that isn’t good news for Joe Biden.

What Was Covid Really About? Triggering A Multi-Trillion Dollar Global Debt Crisis. “Ramping up an Imperialist Strategy”?

Covid, Capitalism, Friedrich Engels and Boris Johnson

By Colin Todhunter

Source: Global Research

“And thus it renders more and more evident the great central fact that the cause of the miserable condition of the working class is to be sought, not in these minor grievances, but in the capitalistic system itself.” Friedrich Engels, The Condition of the Working Class in England (1845) (preface to the English Edition, p.36)  

The IMF and World Bank have for decades pushed a policy agenda based on cuts to public services, increases in taxes paid by the poorest and moves to undermine labour rights and protections.

IMF ‘structural adjustment’ policies have resulted in 52% of Africans lacking access to healthcare and 83% having no safety nets to fall back on if they lose their job or become sick. Even the IMF has shown that neoliberal policies fuel poverty and inequality.

In 2021, an Oxfam review of IMF COVID-19 loans showed that 33 African countries were encouraged to pursue austerity policies. The world’s poorest countries are due to pay $43 billion in debt repayments in 2022, which could otherwise cover the costs of their food imports.

Oxfam and Development Finance International (DFI) have also revealed that 43 out of 55 African Union member states face public expenditure cuts totalling $183 billion over the next five years.

According to Prof Michel Chossudovsky of the Centre for Research on Globalization, the closure of the world economy (March 11, 2020 Lockdown imposed on more than 190 countries) has triggered an unprecedented process of global indebtedness. Governments are now under the control of global creditors in the post-COVID era.

What we are seeing is a de facto privatisation of the state as governments capitulate to the needs of Western financial institutions.

Moreover, these debts are largely dollar-denominated, helping to strengthen the US dollar and US leverage over countries.

It raises the question: what was COVID really about?

Millions have been asking that question since lockdowns and restrictions began in early 2020. If it was indeed about public health, why close down the bulk of health services and the global economy knowing full well what the massive health, economic and debt implications would be?

Why mount a military-style propaganda campaign to censor world-renowned scientists and terrorise entire populations and use the full force and brutality of the police to ensure compliance?

These actions were wholly disproportionate to any risk posed to public health, especially when considering the way ‘COVID death’ definitions and data were often massaged and how PCR tests were misused to scare populations into submission.

Prof Fabio Vighi of Cardiff University implies we should have been suspicious from the start when the usually “unscrupulous ruling elites” froze the global economy in the face of a pathogen that targets almost exclusively the unproductive (the over 80s).

COVID was a crisis of capitalism masquerading as a public health emergency.

Capitalism  

Capitalism needs to keep expanding into or creating new markets to ensure the accumulation of capital to offset the tendency for the general rate of profit to fall. The capitalist needs to accumulate capital (wealth) to be able to reinvest it and make further profits. By placing downward pressure on workers’ wages, the capitalist extracts sufficient surplus value to be able to do this.

But when the capitalist is unable to sufficiently reinvest (due to declining demand for commodities, a lack of investment opportunities and markets, etc), wealth (capital) over accumulates, devalues and the system goes into crisis. To avoid crisis, capitalism requires constant growth, markets and sufficient demand.

According to writer Ted Reese, the capitalist rate of profit has trended downwards from an estimated 43% in the 1870s to 17% in the 2000s. Although wages and corporate taxes have been slashed, the exploitability of labour was increasingly insufficient to meet the demands of capital accumulation.

By late 2019, many companies could not generate sufficient profit. Falling turnover, limited cashflows and highly leveraged balance sheets were prevalent.

Economic growth was weakening in the run up to the massive stock market crash in February 2020, which saw trillions more pumped into the system in the guise of ‘COVID relief’.

To stave off crisis up until that point, various tactics had been employed.

Credit markets were expanded and personal debt increased to maintain consumer demand as workers’ wages were squeezed. Financial deregulation occurred and speculative capital was allowed to exploit new areas and investment opportunities. At the same time, stock buy backs, the student debt economy, quantitative easing and massive bail outs and subsidies and an expansion of militarism helped to maintain economic growth.

There was also a ramping up of an imperialist strategy that has seen indigenous systems of production abroad being displaced by global corporations and states pressurised to withdraw from areas of economic activity, leaving transnational players to occupy the space left open.

While these strategies produced speculative bubbles and led to an overevaluation of assets and increased both personal and government debt, they helped to continue to secure viable profits and returns on investment.

But come 2019, former governor of the Bank of England Mervyn King warned that the world was sleepwalking towards a fresh economic and financial crisis that would have devastating consequences. He argued that the global economy was stuck in a low growth trap and recovery from the crisis of 2008 was weaker than that after the Great Depression.

King concluded that it was time for the Federal Reserve and other central banks to begin talks behind closed doors with politicians.

That is precisely what happened as key players, including BlackRock, the world’s most powerful investment fund, got together to work out a strategy going forward. This took place in the lead up to COVID.

Aside from deepening the dependency of poorer countries on Western capital, Fabio Vighi says lockdowns and the global suspension of economic transactions allowed the US Fed to flood the ailing financial markets (under the guise of COVID) with freshly printed money while shutting down the real economy to avoid hyperinflation. Lockdowns suspended business transactions, which drained the demand for credit and stopped the contagion.

COVID provided cover for a multi-trillion-dollar bailout for the capitalist economy that was in meltdown prior to COVID. Despite a decade or more of ‘quantitative easing’, this new bailout came in the form of trillions of dollars pumped into financial markets by the US Fed (in the months prior to March 2020) and subsequent ‘COVID relief’.

The IMF, World bank and global leaders knew full well what the impact on the world’s poor would be of closing down the world economy through COVID-related lockdowns.

Yet they sanctioned it and there is now the prospect that in excess of a quarter of a billion more people worldwide will fall into extreme levels of poverty in 2022 alone.

In April 2020, the Wall Street Journal stated the IMF and World Bank faced a deluge of aid requests from scores of poorer countries seeking bailouts and loans from financial institutions with $1.2 trillion to lend.

In addition to helping to reboot the financial system, closing down the global economy deliberately deepened poorer countries’ dependency on Western global conglomerates and financial interests.

Lockdowns also helped accelerate the restructuring of capitalism that involves smaller enterprises being driven to bankruptcy or bought up by monopolies and global chains, thereby ensuring continued viable profits for Big Tech, the digital payments giants and global online corporations like Meta and Amazon and the eradication of millions of jobs.

Although the effects of the conflict in Ukraine cannot be dismissed, with the global economy now open again, inflation is rising and causing a ‘cost of living’ crisis. With a debt-ridden economy, there is limited scope for rising interest rates to control inflation.

But this crisis is not inevitable: current inflation is not only induced by the liquidity injected into the financial system but also being fuelled by speculation in food commodity markets and corporate greed as energy and food corporations continue to rake in vast profits at the expense of ordinary people.

Resistance  

However, resistance is fertile.

Aside from the many anti-restriction/pro-freedom rallies during COVID, we are now seeing a more strident trade unionism coming to the fore – in Britain at least – led by media savvy leaders like Mick Lynch, general secretary of the National Union of Rail, Maritime and Transport Workers (RMT), who know how to appeal to the public and tap into widely held resentment against soaring cost of living rises.

Teachers, health workers and others could follow the RMT into taking strike action.

Lynch says that millions of people in Britain face lower living standards and the stripping out of occupational pensions. He adds:

“COVID has been a smokescreen for the rich and powerful in this country to drive down wages as far as they can.”

Just like a decade of imposed ‘austerity’ was used to achieve similar results in the lead up to COVID.

The trade union movement should now be taking a leading role in resisting the attack on living standards and further attempts to run-down state-provided welfare and privatise what remains.

The strategy to wholly dismantle and privatise health and welfare services seems increasingly likely given the need to rein in (COVID-related) public debt and the trend towards AI, workplace automisation and worklessness.

This is a real concern because, following the logic of capitalism, work is a condition for the existence of the labouring classes. So, if a mass labour force is no longer deemed necessary, there is no need for mass education, welfare and healthcare provision and systems that have traditionally served to reproduce and maintain labour that capitalist economic activity has required.

In 2019, Philip Alston, the UN rapporteur on extreme poverty, accused British government ministers of the “systematic immiseration of a significant part of the British population” in the decade following the 2008 financial crash.

Alston stated:

“As Thomas Hobbes observed long ago, such an approach condemns the least well off to lives that are ‘solitary, poor, nasty, brutish, and short’. As the British social contract slowly evaporates, Hobbes’ prediction risks becoming the new reality.”

Post-COVID, Alston’s words carry even more weight.

As this article draws to a close, news is breaking that Boris Johnson has resigned as prime minister. A remarkable PM if only for his criminality, lack of moral foundation and double standards – also applicable to many of his cronies in government.

With this in mind, let’s finish where we began.

“I have never seen a class so deeply demoralised, so incurably debased by selfishness, so corroded within, so incapable of progress, as the English bourgeoisie…

For it nothing exists in this world, except for the sake of money, itself not excluded. It knows no bliss save that of rapid gain, no pain save that of losing gold.

In the presence of this avarice and lust of gain, it is not possible for a single human sentiment or opinion to remain untainted.” Friedrich EngelsThe Condition of the Working Class in England (1845), p.275

The Cult of Globalism: The Great Reset and its ‘Final Solution’ for Useless People

By Timothy Alexander Guzman

Source: Silent Crow News

The idea of the Great Reset derives from the New World Order which is still alive in the minds of the establishment or who we can call the globalists from people like Henry Kissinger to the current US president, Joe Biden.  Of course there are many others on the top levels of the pyramid whose ideas range from establishing a police state, to implanting microchips the day we are born to track and trace us, to depopulating the planet.  I know it all sounds insane but that’s what the globalists have planned for us for a very long time.  Klaus Schwab’s protégé, Yuval Noah Harari, is an Israeli born intellectual who authored a popular bestseller titled ‘Sapiens: A Brief History of Humankind’ and is also a professor of history at the Hebrew University of Jerusalem.  Harari once asked a disturbing question, “what to do with all these useless people?”  Harari is an intelligent man, there is no doubt about that, but his intelligence has led him to the level of insanity.  Harari is an influential member of the World Economic Forum (WEF) who supports the idea of creating a dystopian society managed by a handful of globalists who will rule over every human being on earth from the day they are born.  According to Harari, planet earth is overpopulated:    

Again, I think the biggest question in maybe in economics and politics of the coming decades will be what to do with all these useless people? The problem is more boredom and how what to do with them and how will they find some sense of meaning in life, when they are basically meaningless, worthless?

My best guess, at present is a combination of drugs and computer games as a solution for [most]. It’s already happening…In under different titles, different headings you see more and more people spending more and more time or solving the inner problems with the drugs and computer games both legal drugs and illegal drugs…

They also want people to stay home connected to the Metaverse world, a virtual reality simulation and at the same time get them addicted to all sorts of drugs.  The kind of world they are trying to create for us is pure lunacy.  Wired, a monthly magazine describes the metaverses as a combination of the digital and physical worlds that creates a virtual reality as in the Hollywood film, ‘Ready Player One,’ The article ‘What is the Metaverse, Exactly?’  answers that question, “Broadly speaking, the technologies companies refer to when they talk about “the metaverse” can include virtual reality—characterized by persistent virtual worlds that continue to exist even when you’re not playing—as well as augmented reality that combines aspects of the digital and physical worlds.”                              

Many other Hollywood films that are based on virtual reality in the future includes Jumanji, Source Code, The Matrix, Total Recall, Inception, and many others.  The globalists want you to believe that a dystopic society is in the works for us, but no worries, you will be completely happy at least according to Klaus Schwab.  In my opinion, the notion that the human species will be living their lives through virtual reality is far-fetched, it’s an illusion that will take decades even centuries to accomplish and that would only happen if we allowed it to happen.  Harari is saying that under a scientific, technocratic world order, the state will be your sole provider for everything, so basically, he says that families are not needed in this new world they are creating for us, in other words, having a family will be a thing of the past:

After millions of years of evolution suddenly within 200 years the family and the intimate community break, that they collapse most of the roles filled by the family for thousands and tens of thousands of years are transferred very quickly to new networks provided by the state and the market, you don’t need children, you can have a pension fund, you don’t need somebody to take care of you, you don’t need neighbors and sisters or brothers to take care of you if you’re sick, the state takes care of you, the states provide you with police, with education, with help with everything

Listen to Harari’s own words in this video:


The World in Crisis: A Stakeholder Economy, the Green Agenda and Covid-19    

Rahm Emanuel worked for US presidents Bill Clinton and Barack Obama under various titles, but one quote he will always be remembered for was when he said “you never let a serious crisis go to waste. And what I mean by that it’s an opportunity to do things you think you could not do before.” That is exactly what happened under the Covid-19 global health emergency.  Klaus Schwab, who is the original founder, and executive chairman of the WEF published an article that outlines three basic components of the Great Reset titled Now is the Time for a ‘Great Reset, in the first component, they would help steer or “improve coordination (for example, in tax, regulatory, and fiscal policy), upgrade trade arrangements, and create the conditions for a “stakeholder economy.”  How would this work? There are more than 195 countries in the world meaning that all these countries would have to establish a “unified” tax, regulatory and fiscal policy, all in sync, all with the same laws and that would be impossible even if they tried because all countries have different tax systems, different economies and cultures and that will not change because of a handful of globalists with outlandish ideas of a unified financial system they want to control for their own benefit.  It’s a ridicules idea.  In fact, more countries today are more open to imposing less taxes and regulations to attract foreign investments to grow their economies, so the WEF ‘s recommendations will never work, in fact its dead-on arrival. 

Then there is the looming financial crisis that can ultimately force the world into a Federal Reserve Bank “Digital Currency” known as central bank digital currencies (CBDCs) that will be tracked by the government on how you spend your money.  What can go wrong with this idea?  If in any case, you are not politically aligned with a particular party or refuse an experimental injection, then the government may block your transactions.  In other words, they can literally control when and how you spend your money and that is something most people will not accept.  An article published by Stefan Gleason who is an investor, political strategist, and grassroots activist wrote an interesting analysis last year for fxstreet.com titled ‘The Great Reset is Coming for the Currency’ asks what will be the next major issue for a Global Reset? “As the Great Reset proceeds from globalist think tanks and technology billionaires to allied media elites, governments, schools, and Woke corporations, what will be “reset” next?  The next reset will most likely take place in the financial sector as “Supporters of the World Economic Forum’s all-encompassing Great Reset agenda are eyeing BIG changes for the global monetary system.”  Biden’s Treasury Secretary and former Federal Reserve Chair, Janet Yellen wants to end the use of various cryptocurrencies and have the International Monetary Fund (IMF) issue CBDC’s.  “Yellen derided Bitcoin as “an extremely inefficient way to conduct transactions” because “the amount of energy consumed in processing those transactions is staggering.”  Gleason says that Yellen and her colleagues are planning to have the public use digitized tokens issued by the central bank.  The bottom line is that “They just want to make sure those digits are issued and controlled by governments and central banks.” 

The best way to avoid the Federal Reserve bank’s control over your finances is to own gold, silver, and other safe-haven assets.  “Anyone who is concerned about the prospect of being herded into a new digital currency regime should make it a high priority to own tangible money that exists outside the financial system.”  Gleason makes the case for owning gold and silver, “No technology or government mandate can change the fact that gold and silver have universally recognized, inflation-resistant value.”  At some point, the public will reject the Federal Reserve and its ‘digital currency’ if they can avoid it.  However, the best way to bypass CBDC’s in the future is to buy gold, silver, and other metals that that can maintain value and become resistant to inflationary pressures.  An important note to consider is that all US silver coins that were produced before 1964 were minted with 90% silver and 10% copper, so keep an eye on your pocket-change just in case you come across some silver coins with value. 

The second component “would ensure that investments advance shared goals, such as equality and sustainability. Here, the large-scale spending programs that many governments are implementing represent a major opportunity for progress.”  Which means that governments will be required to print an unlimited money supply to support their agenda that will eventually lead to inflationary pressures which can devastate their respective economies.  “Here, the large-scale spending programs that many governments are implementing represent a major opportunity for progress. The European Commission, for one, has unveiled plans for a €750 billion ($826 billion) recovery fund. The US, China, and Japan also have ambitious economic-stimulus plans.”  They are pushing for an expensive Green Agenda which is part of Joe Biden’s Build Back Better plan to reduce greenhouse gas emissions that will change how the world operates when it comes to using traditional energy resources such as coal, oil, and natural gas:

Rather than using these funds, as well as investments from private entities and pension funds, to fill cracks in the old system, we should use them to create a new one that is more resilient, equitable, and sustainable in the long run. This means, for example, building “green” urban infrastructure and creating incentives for industries to improve their track record on environmental, social, and governance (ESG) metrics

Last year, Forbes magazine published Why Biden’s Climate Agenda Is Falling Apart’ which does explain how the Green Agenda is an expensive and unreliable scheme:

The vast majority of human beings want high rather than low economic growth, and so politicians ultimately choose policies that make energy cheap, not expensive.

And the limitations of weather-dependent renewables are more visible than ever. If California’s large wind energy project is built, it will provide less than half of the energy of California’s Diablo Canyon nuclear plant Newsom is planning to close in 2025, and it will be unreliable. During the heatwave-driven blackouts last summer, there was little wind in California or other Western states, meaning we can’t count on wind energy when we need it most. 

In other words, the Democrats’ climate change and renewable energy agenda is rapidly falling apart, and the reasons have far more to do with physics than with politics

Schwab proposes that the third component is basically the innovations that will lead to centralized control of the world’s health policies by the World Health Organization (WHO) However, the innovations began the moment  WHO officials declared a global Public Health Emergency more than 2 years ago.  Schwab mentioned the ‘Fourth Industrial Revolution’ which is described on the World Economic Forum’s website as a new system that “shapes new policies and strategies in areas such as artificial intelligence, blockchain and digital assets, the internet of things or autonomous vehicles, and enables agile implementation and iteration via its fast-growing network of national and sub-national centres.” Regarding Covid-19 or any other declared public health emergency in the future, the new system will be able “to support the public good, especially by addressing health and social challenges. During the COVID-19 crisis, companies, universities, and others have joined forces to develop diagnostics, therapeutics, and possible vaccines; establish testing centers; create mechanisms for tracing infections; and deliver telemedicine.”

However, there was a unified response put forward by a several nations including Brazil, India, Russia, China, Iran, South Africa, Malaysia and the practically the entire continent of Africa that rejected a pandemic treaty developed by the World Health Organization.  They all agreed that the treaty would allow authorities from the WHO to gain control of their health policies bypassing their rights as sovereign nations.  As the spirit of Tanzania’s late President, John Magufuli lives on, Reuters published the positive move on behalf of the African continent Africa objects to U.S. push to reform health rules at WHO assembly regarding Africa’s 47 nations who rejected the treaty “African countries raised an objection on Tuesday to a U.S.-led proposal to reform the International Health Regulations (IHR), a move delegates say might prevent passage at the World Health Organization’s annual assembly.”  The treaty brought forward by the WHO and the US government was technically defeated which is a positive outcome considering what’s at stake:

If Africa continues to withhold support, it could block one of the only concrete reforms expected from the meeting, fraying hopes that members will unite on reforms to strengthen the U.N. health agency’s rules as it seeks a central role for itself in global health policy.

The IHR set out WHO members’ legally binding obligations around outbreaks. The United States has proposed 13 IHR reforms which seek to authorise the deployment of expert teams to contamination sites and the creation of a new compliance committee to monitor implementation of the rules.

But the African group expressed reservations about even this narrow change, saying all reforms should be tackled together as part of a “holistic package” at a later stage

Western powers along with top level WHO officials will try to persuade or blackmail sovereign nations who originally rejected the IHR treaty to reverse their decision with a new modified version in hopes of centralized control of any future pandemic, but the current decision made by those nations who rejected the treaty is welcoming news indeed.   

Just imagine the concept of a group of mostly unelected bureaucrats with the power to oversee a centralized control grid to rule over a global pandemic is Orwellian, in fact, the Great Reset kind of reminds me of the 1973 classic Hollywood film, Soylent Green with Charlton Heston based on the 1966 science fiction novel ‘Make Room! Make Room! by Harry Harrison based on a dystopian society.  The story is about a police investigation into the murder of a wealthy businessman while the world is experiencing a slow death from “greenhouse gases” that produced a variety of problems for humanity including overpopulation, pollution, poverty, crime, and the concept of enforced euthanasia by the state. 

Soylent Green is an example of what a deranged group of globalists or in this case, government bureaucrats would do to humanity if we did nothing to stop them.  In the film, Detective Thorn (played by Charlton Heston) warned his colleague Chief Hatcher (Brock Peters) “The ocean’s dying! Plankton’s dying! It’s people – Soylent Green is made out of people! They’re making our food out of people! Next thing they’ll be breeding us like cattle for food! You’ve gotta tell them, you’ve gotta tell them!” Although Soylent Green is obviously fictional, it’s a metaphor on how far globalists will be willing to go so that their agenda of world control and depopulation can succeed.  In the film, the state strongly encouraged and even facilitated suicide which turned the people into food for the remaining population.  It sounds insane but reading about the agenda of the Great Reset of you ‘owning nothing and being happy is the start of something more sinister in our future.  I am not saying that they will try to turn people into food in the future, but they are certainly trying to push forward other outrages solutions to feed the world such as the possibility of people eating insects to survive.  I wish this was a joke, but it’s not. 

Globalists are calling for the world’s population to be completely vaccinated with their Covid-19 experimental injections, in other words, they want total control over the world’s healthcare policies to enforce the use of facemasks and endless vaccination schemes through government-imposed mandates on the population although Covid-19 experimental injections are injuring and even killing thousands of people around the world.  Globalist plotters began their plan of action to implement their vaccine mandates as soon as the Public Health Emergency was announced, but there were governments who rejected the idea from the start.  On December 3rd, 2020, Brazil’s Minister of Foreign Affairs Ernesto Araujo clearly rejected the World Economic Forum’s Great Reset agenda by addressing the United Nations (UN) special session on COVID-19 by saying that “Those who dislike freedom always try to benefit from moments of crisis to preach the curtailing of freedom. Let’s not fall for that trap” In his conclusion, Araujo clearly states what is Brazil’s position on the idea of the Great Reset:

Fundamental freedoms are not an ideology. Human dignity requires freedom as much as it requires health and economic opportunities.  Those who dislike freedom always try to benefit from moments of crisis to preach the curtailing of freedom. Let’s not fall for that trap.  Totalitarian social control is not the remedy for any crisis. Let’s not make democracy and freedom one more victim of COVID-19

Is the World Ready to Embrace the Great Reset?  

In the geopolitical spectrum, globalists are set on punishing sovereign countries who do not obey a rules-based order under the Great Reset agenda in partnership with the US-NATO alliance leading the world to some form of conflict or regime change against Russia, China, Iran, Belarus, Syria, Venezuela, Nicaragua, Cuba, and any other nation who wants to remain sovereign at all costs. There are many who are vehemently opposed to such an idea, for example, on January 27th, 2021, Russian President Vladimir Putin spoke at the World Economic Forum (WEF) and basically rejected the idea of the Great Reset and gave a reasonable idea of humanity working together to achieve a prosperous future for all with “calls for inclusive growth and for creating decent standards of living for everyone are regularly made at various international forums. This is how it should be, and this is an absolutely correct view of our joint efforts” and that “It is clear that the world cannot continue creating an economy that will only benefit a million people, or even the golden billion. This is a destructive precept. This model is unbalanced by default.” Putin’s perception of the Great Reset or a unipolar world order is correct because it is destined for failure since the world is a complex place where nations have distinct cultures and history.  Putin questions how nations would respond to a Great Reset with a rules-based order run by an elite group of psychopaths that expect a harmonious transition from all nations who are willing to comply:

We are open to the broadest international cooperation, while achieving our national goals, and we are confident that cooperation on matters of the global socioeconomic agenda would have a positive influence on the overall atmosphere in global affairs, and that interdependence in addressing acute current problems would also increase mutual trust which is particularly important and particularly topical today.

Obviously, the era linked with attempts to build a centralized and unipolar world order has ended. To be honest, this era did not even begin. A mere attempt was made in this direction, but this, too, is now history. The essence of this monopoly ran counter to our civilization’s cultural and historical diversity.

The reality is such that really different development centers with their distinctive models, political systems and public institutions have taken shape in the world. Today, it is very important to create mechanisms for harmonizing their interests to prevent the diversity and natural competition of the development poles from triggering anarchy and a series of protracted conflicts

The rejection of the Great Reset and its associated global institutions and industries such as the WHO, NATO and Big Pharma is a step in the right direction and the globalists are in panic.  Brazil, Russia, the continent of Africa and others are proving that the Great Reset or that century’s old idea of a New World Order has become a failed project.  Some people might disagree with my analysis because many are pessimistic about their future because they believe that a Great Reset is inevitable, that there is no escape from it because it seems that things are getting out of control with ongoing wars, coming food shortages and a growing danger of a global medical tyranny.  However, I do believe that we are in the early stages of a great awakening, not a rules-based order managed by a group of globalists despite the endless propaganda on how the Great Reset will make the planet a better place for all of us.   

People and certain governments are awakening to the fact that a group of globalists are working against them on every level, and they are starting to fight back.  We do not want to be ruled by a centralized power telling us what to do or how to think.  The concept of the Great Reset has failed in many ways, but there is still work to do. 

Never give up, never allow a group of influential globalists whether they are billionaires or bankers, government bureaucrats or special interest groups, resist this ideology of a unipolar world order.  We can win this war, there is still time, I believe that we will prevail if we just don’t comply with their goal of them trying to control us, the useless people.  

The Age of Discord

By Charles Hugh Smith

Source: Of Two Minds

It’s very difficult to find common ground that supports cooperation in the disintegrative stage of scarcities, rising prices, catastrophically centralized power and social discord.

Today’s topic echoes Peter Turchin’s 2016 book, Ages of Discord, which I have often referenced in blog posts.

I’ll also discuss two other books I’ve often referenced, Global Crisis: War, Climate Change and Catastrophe in the Seventeenth Century by Geoffrey Parker and The Great Wave: Price Revolutions and the Rhythm of History by David Hackett Fischer.

Turchin proposes repeating cycles of history of social integration (people finding reasons to cooperate) and disintegration (people finding reasons to not cooperate).

Clearly, we’re in a disintegrative stage.

Fischer proposed a repeating cycle of history in which humans expand their numbers and economy to consume all available resources.

Once all the low-hanging fruit has been consumed, scarcities arise, pushing prices above what commoners can afford, and the result is economic stagnation and social/political revolution.

Either humans exploit a new energy source at scale to provide for the larger population and higher consumption per person, or the population and consumption decline to fit available resources.

Parker covers the mutually reinforcing climate, political, social and economic crises of the 17th century. A long cycle of cold, wet summers reduced crop yields, leading to hunger and strife.

Parker also identifies another cause of the tumultuous, war-plagued 1600s: political leaders had consolidated too much power, enabling them to pursue disastrous wars without any restraint from competing domestic social-political interests.

Clearly, we’re in Fischer’s stage of overshoot and resource scarcity and Parker’s extremes of centralized power free to pursue catastrophic wars of choice.

In the 1600s, those launching wars reckoned a clean, decisive victory was within easy reach. In every case, the wars dragged on inconclusively or generated even wider conflicts.

In the end, all the wars were settled diplomatically, not by military victory. The military gains were nil while the destruction was widespread and devastating.

Fischer details how poorly humans respond to scarcity and higher prices, also known as inflation or more. accurately, as the decline in purchasing power of money and labor. As scarcities and higher prices take their toll, society unravels: crime and social disorder accelerate.

What we’re seeing in real time is a “circle the wagons” mentality of weeding out everyone but the True Believers in every movement. Litmus tests are handy for this test: answer wrong on any question and you’re cast out: heretic!

It’s not enough to tick one “progressive” or “conservative” box; you have to tick them all or you’re a heretic who cannot be trusted. If you leave one box unticked, you might untick a few more in the days ahead.

This puts pressure on everyone to declare their loyalty to the “party” even if the loyalty is just for show. This dishonesty pleases those demanding every box be ticked but this forced loyalty creates an illusion of solidarity that unravels under pressure.

Officials vie to offer pledges of loyalty to Chinese President Xi Jinping ahead of 20th Party Congress

Exacerbating this is social media, which rewards those promoting the most extreme and divisive positions and deranges the populace by substituting recognition online, which encourages disintegration, for real-world engagement, which encourages moderation and cooperation.

Online, it’s easy to be all-or-nothing: there should be no restrictions on social media, or we should just pull the plug and shut the whole mess down.

In the real world, these are knotty, nuanced problems. The Founding Fathers would not have tolerated sedition under the guise of free speech. The social order can only be maintained if every participant adheres to standards of civility and the common good.

When put under stress, humans harden their positions as a defensive measure. They become more argumentative and less tolerant, more strident in insisting that the One True Thing is the answer to our problems.

This leads to magical thinking, for example, that we can replace hydrocarbons with fusion or wind and solar. When the physical and cost limits of minerals are presented as impassable obstacles, people respond with denial: there must be a way to keep everything the same.

Humans have an easy time expanding their population and consumption per person and a hard time consuming less.

It’s very difficult to find common ground that supports cooperation in the disintegrative stage of scarcities, rising prices, catastrophically centralized power and social discord.

This requires accepting that we can cooperate with people on one issue even though all the other boxes of our group/party/movement are left unticked.

History suggests the disintegrative stage will run its course and consumption will realign with available resources one way or another, and the best we can do is preserve our own sanity, community and willingness to nurture small patches of common ground that support productive cooperation.

Forget liberating Ukraine – We first need to liberate our minds

Because we in the West are the strongest tribe on the planet, we are also the most deluded, the most propagandized, and the most dangerous

By Jonathan Cook

Source: Jonathan Cook Blog

Nothing should better qualify me to write about world affairs at the moment – and Western meddling in Ukraine – than the fact that I have intimately followed the twists and turns of Israeli politics for two decades.

We will turn to the wider picture in a moment. But before that, let us consider developments in Israel, as its “historic”, year-old government – which included for the very first time a party representing a section of Israel’s minority of Palestinian citizens – teeters on the brink of collapse.

Crisis struck, as everyone knew it would sooner or later, because the Israeli parliament had to vote on a major issue relating to the occupation: renewing a temporary law that for decades has regularly extended Israel’s legal system outside its territory, applying it to Jewish settlers living on stolen Palestinian land in the West Bank.

That law lies at the heart of an Israeli political system that the world’s leading human rights groups, both in Israel and abroad, now belatedly admit has always constituted apartheid. The law ensures that Jewish settlers living in the West Bank in violation of international law receive rights different from, and far superior to, those of the Palestinians that are ruled over by Israel’s occupying military authorities.

The law enshrines the principle of Jim Crow-style inequality, creating two different systems of law in the West Bank: one for Jewish settlers and another for Palestinians. But it does more. Those superior rights, and their enforcement by Israel’s army, have for decades allowed Jewish settlers to rampage against Palestinian rural communities with absolute impunity and steal their land – to the point that Palestinians are now confined to tiny, choked slivers of their own homeland.

In international law, that process is called “forcible transfer,” or what we would think of as ethnic cleansing. It’s a major reason that the settlements are a war crime – a fact that the International Criminal Court in the Hague is finding it very hard to ignore. Israel’s leading politicians and generals would all be tried for war crimes if we lived in a fair, and sane, world.

So what happened when this law came before the parliament for a vote on its renewal? The “historic” government, supposedly a rainbow coalition of leftwing and rightwing Jewish parties joined by a religiously conservative Palestinian party, split on entirely predictable ethnic lines.

Members of the Palestinian party either voted against the law or absented themselves from the vote. All the Jewish parties in the government voted for it. The law failed – and the government is now in trouble – because the rightwing Likud Party of former Prime Minister Benjamin Netanyahu joined the Palestinian parties in voting against the law, in the hope of bringing the government down, even though his legislators are completely committed to the apartheid system it upholds.

Upholding apartheid

What is most significant about the vote is that it has revealed something far uglier about Israel’s Jewish tribalism than most Westerners appreciate. It shows that all of Israel’s Jewish parties – even the “nice ones” that are termed leftwing or liberal – are in essence racist.

Most Westerners understand Zionism to be split into two broad camps: the right, including the far-right, and the liberal-left camp.

Today this so-called liberal-left camp is tiny and represented by the Israeli Labour and Meretz parties. Israel’s Labour Party is considered so respectable that Britain’s Labour leader, Sir Keir Starmer, publicly celebrated the recent restoration of ties after the Israeli party severed connections during the term of Starmer’s predecessor, Jeremy Corbyn.

But note this. Not only have the Labour and Meretz parties been sitting for a year in a government led by Naftali Bennett, whose party represents the illegal settlements, they have just voted for the very apartheid law that ensures the settlers get superior rights over Palestinians, including the right to ethnically cleanse Palestinians from their land.

In the case of the Israeli Labour Party, that is hardly surprising. Labour founded the first settlements and, apart from a brief period in the late 1990s when it paid lip service to a peace process, always backed to the hilt the apartheid system that enabled the settlements to expand. None of that ever troubled Britain’s Labour Party, apart from when it was led by Corbyn, a genuinely dedicated anti-racist.

But by contrast to Labour, Meretz is an avowedly anti-occupation party. That was the very reason it was founded in the early 1990s. Opposition to the occupation and the settlements is supposedly hardwired into its DNA. So how did it vote for the very apartheid law underpinning the settlements?

Utter hypocrisy

The naïve, or mischievous, will tell you Meretz had no choice because the alternative was Bennett’s government losing the vote – which in fact happened anyway – and reviving the chances of Netanyahu returning to power. Meretz’s hands were supposedly tied.

This argument – of pragmatic necessity – is one we often hear when groups professing to believe one thing act in ways that damage the very thing they say they hold dear.

But Israeli commentator Gideon Levy makes a very telling point that applies far beyond this particular Israeli case.

He notes that Meretz would never have been seen to vote for the apartheid law – whatever the consequences – if the issue had been about transgressing the rights of Israel’s LGBTQ community rather than transgressing Palestinian rights. Meretz, whose leader is gay, has LGBTQ rights at the top of its agenda.

Levy writes: “Two justice systems in the same territory, one for straight people and another for gay people? Is there any circumstance in which this would happen? A single political constellation that could bring it about?”

The same could be said of Labour, even if we believe, as Starmer apparently does, that it is a leftwing party. Its leader, Merav Michaeli, is an ardent feminist.

Would Labour, Levy writes, “ever raise its hand for apartheid laws against [Israeli] women in the West Bank? Two separate legal systems, one for men and another for women? Never. Absolutely not.”

Levy’s point is that even for the so-called Zionist left, Palestinians are inherently inferior by virtue of the fact that they are Palestinian. The Palestinian gay community and Palestinian women are just as affected by the Israel’s apartheid law favoring Jewish settlers as Palestinian men are. So in voting for it, Meretz and Labour showed that they do not care about the rights of Palestinian women or members of the Palestinian LGBTQ community. Their support for women and the gay community is dependent on the ethnicity of those belonging to these groups.

It should not need highlighting how close such a distinction on racial grounds is to the views espoused by the traditional supporters of Jim Crow in the U.S. or apartheid’s supporters in South Africa.

So what makes Meretz and Labour legislators capable of not just utter hypocrisy but such flagrant racism? The answer is Zionism.

Zionism is a form of ideological tribalism that prioritizes Jewish privilege in the legal, military and political realms. However leftwing you consider yourself, if you subscribe to Zionism you regard your ethnic tribalism as supremely important – and for that reason alone, you are racist.

You may not be conscious of your racism, you may not wish to be racist, but by default you are. Ultimately, when push comes to shove, when you perceive your own Jewish tribalism to be under threat from another tribalism, you will revert to type. Your racism will come to fore, just as surely as Meretz’s just did.

Deceptive solidarity

But of course, there is nothing exceptional about most Israeli Jews or Israel’s Zionist supporters abroad, whether Jewish or not. Tribalism is endemic to the way most of us view the world, and rapidly comes to the surface whenever we perceive our tribe to be in danger.

Most of us can quickly become extreme tribalists. When tribalism relates to more trivial matters, such as supporting a sports team, it mostly manifests in less dangerous forms, such as boorish or aggressive behavior. But if it relates to an ethnic or national group, it encourages a host of more dangerous behaviors: jingoism, racism, discrimination, segregation and warmongering.

As sensitive as Meretz is to its own tribal identities, whether the Jewish one or a solidarity with the LGBTQ community, its sensitivity to the tribal concerns of others can quickly dissolve when that other identity is presented as threatening. Which is why Meretz, in prioritizing its Jewish identity, lacks any meaningful solidarity with Palestinians or even the Palestinian LGBTQ community.

Instead, Meretz’s opposition to the occupation and the settlements often appears more rooted in the sentiment that they are bad for Israel and its relations with the West than that they are a crime against Palestinians.

This inconsistency means we can easily be fooled about who our real allies are. Just because we share a commitment to one thing, such as ending the occupation, it doesn’t necessarily mean we do so for the same reasons – or we attach the same importance to our commitment.

It is easy, for example, for less experienced Palestinian solidarity activists to assume when they hear Meretz politicians that the party will help advance the Palestinian cause. But failing to understand Meretz’s tribal priorities is a recipe for constant disappointment – and futile activism on behalf of Palestinians.

The Oslo “peace” process remained credible in the West for so long only because Westerners misunderstood how it fitted with the tribal priorities of Israelis. Most were ready to back peace in the abstract so long as it did not entail any practical loss of their tribal privileges.

Yitzhak Rabin, the West’s Israeli partner in the Oslo process, showed what such tribalism entailed in the wake of a gun rampage by a settler, Baruch Goldstein, in 1994 that killed and wounded more than 100 Palestinians at worship in the Palestinian city of Hebron.

Rather than using the murder spree as the justification to implement his commitment to remove the small colonies of extreme settlers from Hebron, Rabin put Hebron’s Palestinians under curfew for many months. Those restrictions have never been fully lifted for many of Hebron’s Palestinians and have allowed Jewish settlers to expand their colonies ever since.

Hierarchy of tribalisms

There is a further point that needs underscoring, and that the Israel-Palestine case illustrates well. Not all tribalisms are equal, or equally dangerous. Palestinians are quite capable of being tribal too. Just look at the self-righteous posturing of some Hamas leaders, for example.

But whatever delusions Zionists subscribe to, Palestinian tribalism is clearly far less dangerous to Israel than Jewish tribalism is to Palestinians.

Israel, the state representing Jewish tribalists, has the support of all Western governments and major media outlets, as well as most Arab governments, and at the very least the complicity of global institutions. Israel has an army, navy and air force, all of which can rely on the latest, most powerful weaponry, itself heavily subsidized by the U.S. Israel also enjoys special trading status with the West, which has made its economy one of the strongest on the planet.

The idea that Israeli Jews have a greater reason to fear the Palestinians (or in a further delusion, the Arab world) than Palestinians have to fear Israel is easily refuted. Simply consider how many Israeli Jews would wish to exchange places with a Palestinian – whether in Gaza, the West Bank, East Jerusalem or from the minority living inside Israel.

The lesson is that there is a hierarchy of tribalisms, and that a tribalism is more dangerous if it enjoys more power. Empowered tribalisms have the ability to cause much greater harm than disempowered tribalisms. Not all tribalisms are equally destructive.

But there is a more significant point. An empowered tribalism necessarily provokes, accentuates and deepens a disempowered tribalism. Zionists often claim that Palestinians are a made-up or imaginary people because they did not identify as Palestinians until after the state of Israel was created. Former Israeli Prime Minister Golda Meir famously suggested the Palestinians were an invented people.

This was, of course, self-serving nonsense. But it has a kernel of truth that makes it sound plausible. Palestinian identity clarified and intensified as a result of the threat posed by Jewish immigrants arriving from Europe, claiming the Palestinian homeland as their own.

As the saying goes, you don’t always fully appreciate what you have until you face losing it. Palestinians had to sharpen their national identity, and their national ambitions, faced with the threat that someone else was claiming what they had always assumed belonged to them.

Superior values

So how does all this help us understand our own tribalism in the West?

Not least, whatever the anxieties being encouraged in the West over the supposed threat posed by Russia and China, the reality is that the West’s tribalism – sometimes termed “Western civilization,” or “the rules-based order,” or “the democratic world,” or, even more ludicrously, “the international community” – is by far the most powerful of all tribalisms on the planet. And so also the most dangerous.

Israel’s tribal power, for example, derives almost exclusively from the West’s tribal power. It is an adjunct, an extension, of Western tribal power.

But we need to be a little more specific in our thinking. You and I subscribe to Western tribalism – either consciously or less so, depending on whether we see ourselves as on the right or the left of the political spectrum – because it has been cultivated in us over a lifetime through parenting, schools and the corporate media.

We think West is best. None of us would want to be Russian or Chinese, any more than Israeli Jews would choose to be Palestinian. We implicitly understand that we have privileges over other tribes. And because we are tribal, we assume those privileges are justified in some way. They either derive from our own inherent superiority (a view often associated with the far right) or from a superior culture or traditions (a view usually embracing the moderate right, liberals and parts of the left).

Again, this echoes Zionist views. Israeli Jews on the right tend to believe that they have inherently superior qualities to Palestinians and Arabs, who are seen as primitive, backward or barbarian-terrorists. Overlapping with these assumptions, religious-Zionist Jews tend to imagine that they are superior because they have the one true God on their side.

By contrast, most secular Jews on the left, like the liberals of Meretz, believe that their superiority derives from some vague conception of Western “culture” or civilization that has fostered in them a greater ability to show tolerance and compassion, and act rationally, than do most Palestinians.

Meretz would like to extend that culture to Palestinians to help them benefit from the same civilizing influences. But until that can happen, they, like the Zionist right, view Palestinians primarily as a threat.

Seen in simple terms, Meretz believes they cannot easily empower the Palestinian LGBTQ community, much as they would like to, without also empowering Hamas. And they do not wish to do that because an empowered Hamas, they fear, would not only threaten the Palestinian LGBTQ community but the Israeli one too.

So liberating Palestinians from decades of Israeli military occupation and ethnic cleansing will just have to wait for a more opportune moment – however long that may take, and however many Palestinians must suffer in the meantime.

New Hitlers

The parallels with our own, Western worldview should not be hard to perceive.

We understand that our tribalism, our prioritizing of our own privileges in the West, entails suffering for others. But either we assume we are more deserving than other tribes, or we assume others – to become deserving – must first be brought up to our level through education and other civilizing influences. They will just have to suffer in the meantime.

When we read about the “white man’s burden” worldview in history books, we understand – with the benefit of distance from those times – how ugly Western colonialism was. When it is suggested that we might still harbor this kind of tribalism, we get irritated or, more likely, indignant. “Racist – me? Ridiculous!”

Further, our blindness to our own super-empowered Western tribalism makes us oblivious too to the effect our tribalism has on less empowered tribalisms. We imagine ourselves under constant threat from any other tribal group that asserts its own tribalism in the face of our more empowered tribalism.

Some of those threats can be more ideological and amorphous, particularly in recent years: like the supposed “clash of civilisations” against the Islamist extremism of al-Qaeda and Islamic State.

But our preferred enemies have a face, and all too readily can be presented as an improbable stand-in for our template of the bogeyman: Adolf Hitler.

Those new Hitlers pop up one after another, like a whack-a-mole game we can never quite win.

Iraq’s Saddam Hussein – supposedly ready to fire the WMD he didn’t actually have in our direction in less than 45 minutes.

The mad ayatollahs of Iran and their politician-puppets – seeking to build a nuclear bomb to destroy our forward outpost of Israel before presumably turning their warheads on Europe and the U.S.

And then there is the biggest, baddest monster of them all: Vladimir Putin. The mastermind threatening our way of life, our values, or civilization with his mind games, disinformation and control of social media through an army of bots.

Existential threats

Because we are as blind to our own tribalism as Meretz is to its racism towards Palestinians, we cannot understand why anyone else might fear us more than we fear them. Our “superior” civilization has cultivated in us a solipsism, a narcissism, that refuses to acknowledge our threatening presence in the world.

The Russians could never be responding to a threat – real or imagined – that we might pose by expanding our military presence right up to Russia’s borders.

The Russians could never see our NATO military alliance as primarily aggressive rather than defensive, as we claim, even though somewhere in a small, dark mental recess where things that make us uncomfortable are shoved we know that Western armies have launched a series of direct wars of aggression against countries like Iraq and Afghanistan, and via proxies in Syria, Yemen, Iran and Venezuela.

The Russians could never genuinely fear neo-Nazi groups in Ukraine – groups that until recently Western media worried were growing in power – even after those neo-Nazis were integrated into the Ukrainian military and led what amounts to a civil war against ethnic Russian communities in the country’s east.

In our view, when Putin spoke of the need to de-Nazify Ukraine, he was not amplifying Russians’ justifiable fears of Nazism on their doorstep, given their history, or the threat those groups genuinely pose to ethnic Russian communities nearby. No, he was simply proving that he and the likely majority of Russians who think as he does are insane.

More than that, his hyperbole gave us permission to bring our covert arming of these neo-Nazis groups out into the light. Now we embrace these neo-Nazis, as we do the rest of Ukraine, and send them advanced weaponry – many billions of dollars worth of advanced weaponry.

And while we do this, we self-righteously berate Putin for being a madman and for his disinformation. He is demented or a liar for viewing us as a existential threat to Russia, while we are entirely justified in viewing him as an existential threat to Western civilization.

And so we keep feeding the chimerical devil we fear. And however often our fears are exposed as self-rationalizing, we never learn.

Saddam Hussein posed an earlier existential threat. His non-existent WMDs were going to be placed in his non-existent long-range missiles to destroy us. So we had every right to destroy Iraq first, preemptively. But when those WMDs turned out not to exist, whose fault was it? Not ours, of course. It was Saddam Hussein’s. He didn’t tell us he did not have WMDs. How could we have known? In our view, Iraq ended up being destroyed because Saddam was a strongman who believed his own propaganda, a primitive Arab hoisted by his own petard.

If we paused for a moment and stood outside our own tribalism, we might realize how dangerously narcissistic – quite how mad – we sound. Saddam Hussein did not tell us he had no WMDs, that he had secretly destroyed them many years earlier, because he feared us and our uncontrollable urge to dominate the globe. He feared that, if we knew he lacked those weapons, we might have more of an incentive to attack him and Iraq, either directly or through proxies. It was we who trapped him in his own lie.

And then there is Iran. Our endless fury with the mad ayatollahs – our economic sanctions, our and Israel’s executions of Iran’s scientists, our constant chatter of invasion – are intended to stop Tehran from ever acquiring a nuclear weapon that might finally level the Middle East’s playing field with Israel, whom we helped to develop a large nuclear arsenal decades ago.

Iran must be stopped so it cannot destroy Israel and then us. Our fears of the Iranian nuclear threat are paramount. We must strike, directly or through proxies, against its allies in Lebanon, Yemen, Syria and Gaza. Our entire Middle East policy must be fashioned around the effort to prevent Iran from ever gaining the bomb.

In our madness, we cannot imagine the fears of Iranians, their realistic sense that we pose a much graver threat to them than they could ever pose to us. In the circumstances, to Iranians, a nuclear weapon might surely look like a very wise insurance policy – a deterrence – against our boundless self-righteousness.

Vicious cycle

Because we are the strongest tribe on the planet, we are also the most deluded, the most propagandized, as well as the most dangerous. We create the reality we think we oppose. We spawn the devils we fear. We force our rivals into the role of bogeyman that makes us feel good about ourselves.

In Israel, Meretz imagines it opposes the occupation. And yet it keeps conspiring in actions – supposedly to aid Israel’s security, like the apartheid law – that justifiably make Palestinians fear for their existence and believe they have no Jewish allies in Israel. Backed into a corner, Palestinians resist, either in an organized fashion, as during their intifada uprisings, or through ineffectual “lone-wolf” attacks by individuals.

But the Zionist tribalism of Meretz – as liberal, humane and caring as they are – means they can perceive only their own existential anxieties; they cannot see themselves as a threat to others or grasp the fears that they and other Zionists provoke in Palestinians. So the Palestinians must be dismissed as religious maniacs, or primitive, or barbarian-terrorists.

This kind of tribalism produces a vicious cycle – for us, as for Israel. Our behaviors based on the assumption of superiority – our greed and aggression – mean we inevitably deepen the tribalisms of others and provoke their resistance. Which in turn rationalizes our assumption that we must act even more tribally, even more greedily, even more aggressively.

Cheerleading war

We each have more than one tribal identity, of course. We are not only British, French, American, Brazilian. We are Black, Asian, Hispanic, white. We are straight, gay, trans, or something even more complex. We are conservative, liberal, left. We may support a team, or have a faith.

These tribal identities can conflict and interact in complex ways. As Meretz shows, one identity may come to the fore, and recede into the background, depending on circumstances and the perception of threat.

But perhaps most important of all, some tribalisms can be harnessed and manipulated by other, narrower, more covert tribal identities. Remember, not all tribalisms are equal.

Western elites – our politicians, corporate leaders, billionaires – have their own narrow tribalism. They prioritize their own tribe and its interests: making money and retaining power on the world stage. But given how ugly, selfish and destructive this tribe would look were it to stand before us nakedly pursuing power for its own benefit, it promotes its tribal interests in the name of the wider tribe and its “cultural” values.

This elite tribe wages its endless wars for resource control, it oppresses others, it imposes austerity, it wrecks the planet, all in the name of Western civilization.

When we cheerlead the West’s wars; when we reluctantly concede that other societies must be smashed; when we accept that poverty and food banks are an unfortunate byproduct of supposed economic realities, as is the toxifying of the planet, we conspire in advancing not our own tribal interests but someone else’s.

When we send tens of billions of dollars of weapons to Ukraine, we imagine we are being selfless, helping those in trouble, stopping an evil madman, upholding international law, listening to Ukrainians. But our understanding of why events are unfolding as they are in Ukraine, more so than how they are unfolding, has been imposed on us, just as it has on ordinary Ukrainians and ordinary Russians.

We believe we can end the war through more muscle. We assume we can terrorize Russia into withdrawal. Or even more dangerously, we fantasize that we can defeat a nuclear-armed Russia and remove its “madman” president. We cannot imagine that we are only stoking the very fears that drove Russia to invade Ukraine in the first place, the very fears that brought a strongman like Putin to power and sustain him there. We make the situation worse in assuming we are making it better.

So why do we do it?

Because our thoughts are not our own. We are dancing to a tune composed by others whose motives and interests we barely comprehend.

An endless war is not in our interests, nor in those of Ukrainians or Russians. But it might just be in the interests of Western elites that need to “weaken the enemy” to expand their dominance; that need pretexts to hoover up our money for wars that profit them alone; that need to create enemies to shore up the tribalism of Western publics so that we do not start to see things from the point of view of others or wonder whether our own tribalism really serves our interests or those of an elite.

The truth is we are being constantly manipulated, duped, propagandized to advance “values” that are not inherent in our “superior” culture but manufactured for us by the elites’ public-relations arm, the corporate media. We are made into willing co-conspirators in behavior that actually harms us, others, and the planet.

In Ukraine, our very compassion to help is being weaponized in ways that will kill Ukrainians and destroy their communities, just as Meretz’s caring liberalism has spent decades rationalizing the oppression of Palestinians in the name of ending it.

We cannot liberate Ukraine or Russia. But what we can do may, in the long term, prove far more significant: We can start liberating our minds.

Explain It to Me, Please

If you want a war with Iran, Russia, China and Venezuela tell me why and how it would benefit Americans

By Philip Giraldi

Source: The Unz Review

So Honest Joe Biden is now going to give another $1.2 billion to the Ukrainians on top of the sixty or so billion that is already in the pipeline, but who’s counting, particularly as Congress refused to approve having an inspector general to monitor whose pockets will be lined. The money will be printed up without any collateral or “borrowed” and the American taxpayer will somehow have to bear the burden of this latest folly that is ipso facto driving much of the world into recession. And it will no doubt be blamed on Vladimir Putin, a process that is already well under way from president mumbles. But you have to wonder why no one has told Joe that the whole exercise in pushing much of the world towards a catastrophic war is a fool’s errand. But then again, the clowns that the president has surrounded himself with might not be very big on speaking the truth even if they know what that means.

Having followed the Ukraine problem since the United States and its poodles refused to negotiate seriously with Vladimir Putin in the real world, I have had to wonder what is wrong with Washington. We have had the ignorant and impulsive Donald Trump supported by a cast of characters that included the mentally unstable Mike Pompeo and John Bolton followed by Biden with the usual bunch of Democratic Party rejects. By that I mean deep thinkers about social issues who would not be able to run a hot dog stand if that were what they were forced to do to make a living. But they are real good at shouting “freedom” and “democracy” whenever questioned concerning their motives.

Indeed, opinion polls suggest that there is a great deal of unrest among middle and working class Americans who see a reversion to Jimmy Carter era financial instability, at that time caused by the oil embargo. Well, there is a new energy embargo in place brought about by the Biden Administration’s desire to wage proxy war to “weaken” Russia. Analysts predict that the costs for all forms of energy will double in the next several months and surging energy costs will impact the prices of other essentials, including food. Given all that, the fundamental issue plaguing both Democrats and Republicans is their inability to actually explain to the American people why the country’s foreign and national security policy always seems to be on the boil, searching for enemies and also creating them when they do not exist, even when the results are damaging to the interests of actual Americans.

That a serious discussion of why the United States needs to have a military that costs as much as the next nine nations in that ranking combined is long overdue and rarely addressed outside the alternative media. The 2023 military budget has been increased from this year’s, totaling $858 billion, and, if one includes the constantly growing largesse to Ukraine, approaching a hitherto unimaginable trillion dollars. The military budget has become a major driver of the country’s unsustainable deficits. The deaths of millions of people directly and indirectly in the wars started in 9/11 aside, the wars of choice have cost an estimated $8 trillion.

The Constitution of the United States makes it clear that a national army was only acceptable to the Founders when it was dedicated to defending the country from foreign threats. Do Americans really believe that bearing the burden of having something like 1,000 military bases scattered around the world really makes them safer? The recent rapid collapse of the security situation in Afghanistan suggests that having such bases turns soldiers and bureaucrats into potential hostages and is therefore a liability. One might also suggest that the insecurity currently prevailing in the country can in large part be attributed to the government’s depiction of numerous “threats” in order to justify both the commitment and the expense.

So where does all the money go? And what are the threats? Starting with a war that the United States is de facto though not de jure involved in, Ukraine, what was the Russian threat that demanded Washington’s intervention? Well, if one discards the nonsense of a “rules based international order” or a plucky little democracy Ukraine fighting valiantly against the Russian bear, Moscow did not threaten the United States in any way before the missiles starting flying. Putin sought to negotiate a settlement with Ukraine based on a number of perceived existential Russian national security interests, all of which were negotiable, but the US and its friends were uninterested in compromise while also plying the corrupt Zelensky regime with weapons, money and political support. The final result is a conflict that will likely only end when the last Ukrainian is dead and it includes the possibility that a misstep by the United States and Russia could lead to a nuclear holocaust. To put it succinctly, what is going on does not enhance US national security, nor does it benefit Americans economically.

And then there is China. Biden let the cat out of the bag on his recent trip to the Far East. He stated that the United States would defend Taiwan if China were to attempt to annex it. In saying that, Biden demonstrated that he does not understand the strategic ambiguity that the US and the Chinese have preferred over the past fifty years as an alternative to war. The White House for its part quickly issued a correction to the Biden statement, explaining that it was not true that Washington is obligated to defend Taiwan. Some uber hawkish congressmen have apparently found the Biden gaffe appealing and are promoting a firm US commitment to defend Taiwan, coupled with a $4.5 billion military assistance package, of course.

At the same time, some officials in the Pentagon and the usual gaggle of congressmen also keep warning about the over the horizon threat from China as an excuse to boost defense spending. Most recently, there was alarm over Chinese participation in a meeting in May in Fiji to consider a China-Pacific Islands free trade pact! In reality, the only serious current threat from China is as an economic competitor. A trade war with China would be a disaster for the US economy, which is heavily dependent on Chinese manufactured goods, but Beijing, with its relatively small military budget, does not pose a physical threat to the United States.

And let’s not ignore Iran which has been hammered by economic sanctions and also through the covert killing of its officials and scientists. The US/Israeli war on Iran has also spilled over into neighboring Syria, where Washington actually has troops on the ground occupying the country’s oil producing region and stealing the oil. Iran’s possible expansion of its nuclear program to produce a weapon was effectively impeded through monitoring connected to a multilateral 2015 agreement called the Joint Comprehensive Plan of Action (JCPOA) but Donald Trump, unwisely and acting against actual American interests, withdrew from it. Joe Biden has been warned by Israel not to re-enter the agreement, so he will no doubt comply with Prime Minister Naftali Bennett’s determination to have Washington continue to apply “extreme pressure” on the Islamic Republic. Does either Iran or its ally Syria threaten the United States in any way? No. Their crime is that they are in the same neighborhood as the Jewish state, which finds the US government easy to manipulate into acting against its own interests.

Finally, in America’s own hemisphere there is Venezuela, which has been elevated to the status of Washington’s most hated nation in the region. Venezuelans have been subjected to increasingly punitive US sanctions, including some new ones just last week, which hurt the poorer citizens disproportionately but have not brought about regime change. Why the animosity? Because the country’s leader Nicolas Maduro is still in power in spite of a US assertion that the country’s opposition leader Juan Guaido should rightfully and legitimately be in charge after a possibly fraudulent election in 2018. The latest therapy applied by the United States on Caracas consisted of blocking the country as well as Nicaragua and Cuba from participating in the recent meeting of the Ninth Summit of the Americas which was held in Los Angeles. A State Department spokesman explained that the move was due to the three countries “lacking democratic governances.” Mexican President Lopez Obrador protested against the move and removed himself from his country’s delegation, saying “There can’t be a Summit of the Americas if not all countries of the American continent are taking part.” The despicable US Senator Robert Menendez of the Senate Foreign Relations Committee then felt compelled to add his two cents, criticizing the Mexican president and warning that his “decision to stand with dictators and despots” would hurt US-Mexico relations. So where was the threat from Venezuela (and Cuba and Nicaragua) and why is the US involved at all? Beats me.

What all of this means is that there is absolutely no standard of genuine national security that motivates the US’s completely illegal aggression in many parts of the world. What occurs may be linked to a desire to dominate or a madness sometimes described as “exceptionalism” and/or “leadership of the free world,” neither of which has anything to do with actual security. And the American people are paying the price both in terms of decline in standards of living due to the upheaval created in Ukraine and elsewhere as well as a completely understandable loss of faith in the US system of government. By all means, let us shrink the US military until it is responsive to actual identifiable threats. Let’s elect a president who will follow the sage advice of President John Quincy Adams, who declared that “Americans should not go abroad to slay dragons they do not understand in the name of spreading democracy.” At this point, one can only imagine an America that is at peace with itself and with what it represents while also being considered a friend to the rest of the world.