By Sergio Weigel for the Saker blog
Everybody understands the importance of the dollar system as the Achilles heel for the US empire yet oddly, when analysing imperial action of Warshington of the last decades, the focus is usually on ideologies like Zionism or American exceptionalism, or on at most partial aspects such as fossil fuels and pipelines. Another focus, favored mainly among Americans, is that America once was great but now has lost track somehow. I still think that the means of production, or in case of the US selling dollar annotated debt masked as investment, is far more paramount for US decision-making than ideology or oil, and that America hadn’t lost track but instead desperately tries to hold on to its track.
First, a few words about America’s track. The imperialists of the US regime desperately cling to their empire, that’s a classic, that’s what imperialists do. The Nazis clung to their short-lived empire until Germany was in ruins, the Romans clung to theirs until defeated, and the British struggle during WW2 was far more about preserving theirs than it was about defeating Nazi Germany. Empires usually don’t dismantle themselves. But it’s also the American people, serfs to the empire, who are desperately clinging. That’s what I found so appalling about the Occupy movement. These millennial brats had no political agenda but to demand their cheap flat screens back from the banksters. They didn’t want change, they wanted continuity. The same is true for the so-called “alt-right” movement who have zero political agenda for a better future. They lament the present while dreaming of a past 1950s/1960s America that has never even really existed. When they say America has lost its track, they might have Middle Eastern wars in mind, but that’s rubbish because there is nothing new or different in these wars than in any wars Warshington had fought before against the Natives, their own Southern brethren, Mexico, Spain, Philippines, Korea, Vietnam, you name it, and the meddling on Maidan is in no way different to what they’ve been doing in Latin American countries since the mid 19th century. Psychologically, I think, what they mourn is that the mask has fallen off and that they cannot go back to that cozy, simple, and ignorant lifestyle they had been able to enjoy up until 9/11.
To me the US empire is an historic aberration of humanity. With its genesis, its unparalleled level of violence, the categorically insolidary and segregated society and surreal consumer culture it has created, and the delusional ideology and mythology with which it justifies itself based on a borderline psychotic Messiah complex (Manifest Destiny), it represents an exceptional oddity among nations. But beyond its mental problems there is a cold, hard fact – at least within the realm of capitalism – that explains the actions and reactions of US imperialism throughout the years, especially in recent decades. It is both fuel and failure of the empire: the dollar as the world’s reserve currency, or rather the system behind it which consists of masquerading and selling debt as investment.
Many people consider the US to be a proper republic with a valid constitution, separation of powers, rule of law and all that jazz. I think that is baloney. In truth the US government is a front for a criminal enterprise and it has been like that ever since the US Constitution has been created and passed by whom Gore Vidal rightfully dubbed as “frightened men of property”. While the American Revolution in itself was a truly unique and valuable moment in human history, the system that resulted from it was and still is designed by men of wealth for men of wealth to obtain as much wealth as possible at the expense of everybody else without the tedious social responsibilities the French republicans came up with. In fact, this lack of social responsibility is what they mean when they say freedom. The American nation never had a chance to develop to its potential, because it was hijacked early on by networks/cartels of the rich. What is commonly referred to as the American dream should therefore rather be named the American deception. In my view, the Pursuit of Happiness is the largest middle-finger ever erected in human history. America has never lost its track, I think it has always been on the same track, yet it is about to derail hard.
While Europe has managed (more or less) to develop, kill and struggle itself into a bunch of societies in which solidarity, social justice and rule of law remain core cultural and social concepts – to a certain extent even for the rich (Napoleonic Code) -, America has developed into a rat race society based on property, materialism and a general save-your-own-ass mentality. A smart guy from New York once described his own country to me as money talks, bullshit walks. The fish rots or rather trickles down from the head. America is run by a bunch of mafia cartels no better than street gangs – Wall St, Big Oil, Big Pharma, Big Media, Military-Industrial-Complex etc. – with the Federal Reserve as their giant money laundering corporation, a bureaucracy of ridiculous proportions as both the mafia’s hitmen (CIA, Pentagon) and legal front (Congress), and the US president as the constantly changing promotion mascot. There is very often no love lost between these cartels or their players, but there are two things that unite them. First, the US dollar system, the single largest Ponzi scheme in human history and, second, an extremely elitist self-concept inherited from English aristocracy asserting that it is them, and only them, who shall rule the world. Take the infinite callousness and arrogance of the English upper class, offer them a vast country and endless influx of human material for exploitation and what you get is the United States of America and its WASP regime. The US has been an imperialist project right from the start, because it was founded out of (British) imperialism.
From their elitist perspective the American or any other people serve as human cattle to be duped, exploited and used. It is the ultimate Fordist nightmare, which Aldous Huxley could only vaguely anticipate in his novel A Brave New World. The people are made to live under conditions comparable to that of farm cattle with TV screens flickering in their stables. To the regime they are nothing but salary and consume cattle, cynically dubbed as human resources in the business world, a euphemism for slaves if you ask me. Lives, thoughts and views, food, medicine and drug use, culture, or the fairy tale people are supposed to believe as history are determined and conditioned by a gigantic propaganda industry that makes Joseph Goebbels drool in his coffin. Hollywood is the manifestation of what he could only dream of.
Europeans suffer from pretty much the same state of shallow and philistine slave existence, but it’s mostly a post-WW2 imported American thing for us. We still have a choice and we have all the necessary cultural, nutritional and intellectual roots to free ourselves from it. I might be dead wrong in my observations, but I don’t see how Americans with what I consider as their still prevalent settler mentality could really do that. I hope they will find a way and if only after the collapse of the empire. Regardless, you cannot properly understand US imperialism, let alone the so-called “West” in general, unless you fully appreciate the manufactured fake that it really is. Therefore let’s start with the only real thing about it – at least in a capitalist sense – the dollar system.
Empire of Snakes and Weasels
Through their dubious actions and policies of supporting all sides before and during WW2 the US cartels managed to weasel their host country’s way from the world’s number one debtor before the war to the world’s number one creditor after the war. With this leverage at their disposal the US entered the Bretton Woods negotiations in 1944. The Bretton Woods conference was in essence the result of Anglo-American establishments contemplating on how to rule and dominate the world after WW2. British imperialists, the other oddballs of human history and well worth an article of their own, and America’s ruling cartels had already united their criminal enterprises, although from different perspectives. While the British were mostly interested in using American muscle to preserve their empire which had been struggling especially against Germany’s rising economic power since the late 19th century, the American cartels were eager to establish themselves on a global and especially European stage, an endeavor for which Britain served well as springboard.
It is therefore no surprise that the English speaking imperialists on both sides of the Pond had different views on how to run future currency-based world domination. England was represented by British economist John Maynard Keynes – himself one of the initiators of the Bretton Woods conference – who put forward the idea of an international bank called International Clearing Union which would issue its own currency – the bancor – as an account currency between nations. The idea was to have trade surplus or creditor nations invest in the economies of trade deficit or debtor nations and so to even out global economic imbalances. Lord Keynes was one of the few if not the only competent of capitalist economists.
Keynes proposed that any country racking up a large trade deficit (equating to more than half of its bancor overdraft allowance) would be charged interest on its account. It would also be obliged to reduce the value of its currency and to prevent the export of capital. But – and this was the key to his system – he insisted that the nations with a trade surplus would be subject to similar pressures. Any country with a bancor credit balance that was more than half the size of its overdraft facility would be charged interest, at a rate of 10%. It would also be obliged to increase the value of its currency and to permit the export of capital. If, by the end of the year, its credit balance exceeded the total value of its permitted overdraft, the surplus would be confiscated. The nations with a surplus would have a powerful incentive to get rid of it. In doing so, they would automatically clear other nations’ deficits. (source)
This is – within the realm of capitalism – a pretty neat idea, one that would have, for example, prevented the flaws of the euro system, in which the common currency is undervalued for Germany (great for exports, pretty shit for the domestic market) but overvalued for pretty much everyone else with the result of German industry and its retailers Lidl and Aldi literally eating up the rest of Europe. Had the euro been designed as a common account currency with a proper multilateral treaty based on Keynes’s ideas while preserving national currencies, we wouldn’t have had to experience the euro crisis with all its terrible humanitarian consequences, and Germany would not have had the chance to abuse its imperialist power within Europe the way it did. I don’t think that the crappy euro design was a mistake but rather one deliberately made by German bankers and industrialists who prevailed over French and others when drafting the euro – but that’s something others have already written extensively and are more skilled about. The same flaws we can see in the euro system persist in the dollar system on a global scale since Bretton Woods, when one country can dominate the rest using the leverage of currency.
In the beginning of the conference everyone was with the ideas of Lord Keynes for they were as reasonable as it can get within a capitalist frame. But it was the American imperialists, represented by Harry Dexter White, who had quite different ideas for their currency-based world domination. They wanted to seize the opportunity by establishing an International Stabilization Fund which would put the whole burden of economic imbalance on the debtor nations. Instead of a global account currency like the bancor they wanted to establish their own US dollar as the world’s reserve currency. It is not documented how many arms the US cartels had to twist in how many directions at Bretton Woods, but eventually they prevailed and the notorious Bretton Woods system with the US dollar as sole reserve currency was implemented with the infamous IMF at its core, an institution that evidently turns everything it touches into deep shit as it keeps working along utmost economic illiteracy – even for capitalists – designed only to withdraw further capital from already troubled nations.
Having one country’s currency as the world’s sole reserve currency was and is so far unique in history. It is often and commonly believed that the US dollar had just replaced the British pound as the world’s reserve currency, but this is not quite accurate. British pound, German mark, French franc or Portuguese escudo had at their respective times always been reserve currencies alongside each other. Some were more regionally focused, like the French franc in Africa, with the British pound playing the major but not singular role globally. Bretton Woods, however, introduced the US dollar as the world’s or rather capitalist world’s sole reserve currency with all other currencies having fixed exchange rates to it. The US cartels gained tremendous political and economic clout by that, especially since it later allowed them to run a much larger and longer state and trade deficit than they could have, had the dollar been just been one garden variety currency among others. But how did it go and what does it mean today, when the world appears to be returning to a “normal” state of affairs again with the rise of euro and yuan?
A Roller Coaster That Only Goes Downhill
Many of America’s grumpy nostalgics who thought that a billionaire with a terrible hairdo would help them out of their misery by building a wall consider America to have been great in the past. Of course, it was never great at all. Those were times of heinous crimes against humanity by the US regime against the world and its own people, earlier even inspiring other villains. On principle it was just like today and how it has always been. The USAF was carpet bombing Asian countries and everybody was scared of Russians. Still, the times felt great, because the country was surfing the big post-war Kondratieff wave and enjoyed a Brave New World of Fordist pleasure based on hard work and hedonistic obedience to advertisement. Milkshakes tasted sweet, Rock’n’Roll pounded loud, and Cadillacs rolled big. Universities were negro-free and retards were sterilized. America was great and Jesus in love with you. The share of household consumption to GDP was already around 60%, but that wasn’t a problem because most of what Americans consumed was also made in America by Americans. But then the wave turned into swash and started lapping against the shore of reality. The markets were saturated. Everyone had a fridge and one or two cars and TVs by then. No new major technological innovation for further consumer goods lurked around the corner to drive the economy. The Kondratieff wave backwashed. Capitalism had once again reached its regular growth limits and the usual meltdown was looming. Voracious for more profits corporations started the big outsourcing frenzy in the 1970s to get their fix by having to share less with their workers in exchange for cheaper products from cheaper countries. Now, outsourcing as such is not a problem if the CEOs know what they’re doing and have a long-term strategy such as using profits generated from saving to invest in research for new innovation, for example. The problem is that the US is for the most part a shareholder economy and CEOs and their corporations are legally obliged to provide profits for them. I am talking about short-term quarterly or yearly profits, not profits for long-term visions. Even if the odd business school graduate working as CEO has a long-term vision, the American cartel model of economy won’t allow him or her to implement it without providing for shareholder profits first. Keep that in mind when you wonder where US industry went compared to German industry, apparently a core part of Trumpish penis envy triggering infantile feelings of unfair.
Over the course of the 1970s to the 1990s American workers increasingly turned into burger flippers, janitors and cashiers, while Mexicans, Filipinos and Chinese started to increasingly sweat in their shops. The purchasing power of American consumers declined and that threatened the colossal GDP. Reaganomics didn’t trickle down at all, but it made sure that lumberjack shirts presented something non-existent, and banks and corporations got another decade-long profit fix. By the late 1990s, it became obvious that to keep the machine running Americans had to have their credit cards loaded and their stock markets bloated. Therefore, Bill “Never-Inhaled-and-Didn’t Have-Sex” Clinton deregulated the banks so that they could provide Americans with cheap mortgage credits for their consumerist pleasure. Advertisement went on hyperdrive to make Americans buy junk and sprawl suburbanly. Another profit fix for banks and corporations for yet another decade had been conjured up. GDP and plebeian excitement were saved for the day. The result of this policy was the much feared massive trade deficit, because economies in Europe, Asia and Latin America managed to replace American manufacturing globally either with their own products or simply by producing American ones.
In reality it is all a bit more complex, of course, but I’m deliberately keeping it simple to highlight America’s economic failure by design. It’s the sparkler among empires, having burnt so bright for three decades between 1945 and 1975 yet violently fizzling out ever since. What is important to understand at this point is that without Bretton Woods the US cartels would have never been able to run it this far, almost half a century on debt and delusions by now, because even when Nixon ditched the gold standard to free the empire from its shackles to run mile-high deficits, the US dollar remained the world’s reserve currency, first, in lack of another major currency to challenge it, and, second, as a result of a dirty deal made with the Saudi Barbarians: you sell your oil only in US dollars and make the rest of OPEC follow suit and we build up your stone or rather sand aged country American style. Goats as the common garbage disposal system in Riyadh had been replaced by white trucks, skyscrapers built, American weapons bought, and US debt sold to European and Asian oil junkies. John Perkins described this dirty deal perfectly well in his Confessions of An Economic Hitman. With the petrodollar established this way the US cartels could continue their criminal enterprise and it is the only reason why the Saudis have come as close to US imperialism as airplanes into tall buildings.
The US cartels are dependent on the dollar as the world’s sole reserve currency to be able to run the deficits necessary to fuel their criminal enterprise of world domination. In order to do that they need other countries to hoard dollars in the form of US debt, which they will only do if they believe the US was a thriving economy. But since the 1980s the US cartels can hold up the illusion of presiding over an economic powerhouse pretty much only with plebeian consumption running on debt. Currently about 70% of the GDP is private household consumption which is nominally not much more than during America’s self-felt greatness, but it has now turned into the last, almost lost engine rattling to keep if not America’s success at least its success story going. Virtually none of the consumed products are made in America anymore. Industry, engineering, and manufacturing went down the toilet and despite their constant attention whoring neither the narcissists in Hollywood nor Silicon Valley could make up for it. The only industry still pumping hard to inflate the GDP is the bogus financial sector and so the American economy hovers from one bubble to the next, each one inflated with the illusion of a working economy based on a bloated GDP. The question is: why is it so important for the US cartels to keep up a colossal GDP even at the cost of its own economic foundation and what does it have to do with US aggression all around the world, at least in the past two decades?
Welcome to the Dark Side
As the ever so astute American philosopher Homer Simpson once said, “People can come up with statistics to prove anything […]. Forfty percent of all people know that.”, so I will toss some stats at you. Please bear with me. I chose to compare military spending, trade deficit, household consumption, household debt, government debt, and GDP – all numbers are in billion dollars.
Numbers are from the World Bank and United Nations and from this site.
The curves aren’t what is striking, they’re obvious, what strikes are the correlations between different data:
Correlation of: | Military Spending | Trade Balance | Household Consumption | Household Debt | Government Debt | GDP |
Military Spending | 1.00 | 0.22 | 0.83 | 0.89 | 0.78 | 0.82 |
Trade Balance | 0.22 | 1.00 | 0.11 | 0.39 | -0.12 | 0.12 |
Household Consumption | 0.83 | 0.11 | 1.00 | 0.91 | 0.97 | 0.99 |
Household Debt | 0.89 | 0.39 | 0.91 | 1.00 | 0.79 | 0.91 |
Government Debt | 0.78 | -0.12 | 0.97 | 0.79 | 1.00 | 0.96 |
GDP | 0.82 | 0.12 | 0.99 | 0.91 | 0.96 | 1.00 |
I’ll just arrogantly assume that you know what correlation is. The important thing to note is that it’s about whether two data sets are related or not. The first thing that strikes the eye is that US trade deficit is hardly related to any other indicators, except perhaps for the relation to household debt. Therefore, the question arises if the Trump administration really is about trade deficit at all, as Mr Orange likes to claim, since it is mainly debt that cripples the country and shareholder values dependent on a high GDP that drive it. I don’t see Trump battling debt at all, but I modestly assume that there are at least one or maybe even two staffers in Warshington who read and analyse economic data.
The strongest correlation exists between household consumption, household debt, government debt and GDP. They are all above the 0.9 mark, even reaching almost full correlation between GDP and household consumption. In other words, the massive GDP of the US goes hand in hand with household consumption, which goes hand in hand with both private and public debt. The US appears to produce its GDP colossus mostly by investors buying dollar annotated debt. The irony – and eventually system failure – arises from the fact that the US cartels need to fake high economic productivity and reliability by financing high consumption of mostly imported goods on credit to show off a colossal GDP necessary to attract financial investors, both domestic and foreign, whose investments are then again used to finance aforementioned credits. This is what I call a vicious circle and kind of what I imagine to feel like hugging a pork half.
When we put military spending into the mix, the actions of US imperialism become even clearer. It correlates strongly or even very strongly to the other four indicators, yet military spending is hardly the cause of high public debt or GDP. After all, military spending amounts only to about 3.5% of GDP (not counting the totality of national security spending, let alone money made by CIA drug trafficking). Apparently, and in some magical way, US military action, or at least military spending, guarantees high consumption and thus a high GDP.
Bombing for Debt
It is a rather mundane insight, that what one wants and what one can do to get it are two different things. What the US cartels want is clear: Full World Domination (FWD), which even if they got it, would still be a system designed to fail as it cannot survive without a foe. Regardless, Brzezinski formulated it in 1997 in his pamphlet The Grand Chessboard, an American version of Uncle Adolf’s Mein Kampf. Like Mein Kampf was in many parts bootlegging Henry Ford’s The International Jew, Brzezinski hadn’t had one original thought either. His ideas were almost identical to those that British geostrategist Halford Mackinder formulated as Geographical Pivot of History in 1904. This idée fixe, never to let any land power take control in Eurasia or let any kind of Eurasian integration happen, seems to be engraved on the crazed minds of Anglo-American elites since the 19th century and is guideline to their politics ever since then. Germany and Russia had been and still are the main adversaries and targets, but also Iran and China. The whole history of the 20th century can only be understood under this premise. This, however, is not part of the official fairy tale that is bourgeois history. No wonder I didn’t learn about it at school. Anyway, it is also related to the preservation of the dollar system.
When the ever so humble Anglo-American crazies were convinced they had defeated the Soviet Union they started acting right away. The goal was to destroy any possible Silk Road and/or cooperation between the land powers of Germany, France, Russia, China, and Iran. Let me first briefly summarize the pre-millennial actions:
- They nationally endowed democracy and Russophobia in what today has become the Idiot Belt (Baltics, Poland, Ukraine, Scandinavia) to shape a cordon sanitaire between Germany and Russia.
- They literally ate up Russia economically during the 1990s and meddled with the aim to once and for all get rid of it as a power to reckon with.
- They gave Saddam the green light to invade Kuwait in order to have a pretext to set foot in the Middle East – the first step against Iran after Saddam had screwed up the 1980s Gulf War.
- They broke apart Yugoslavia, the last standing and just too large socialist country in Europe – this time with the help of Germany which had and still has its own imperial ambitions in Europe.
- They bombed Serbia and sliced out Kosovo in order to establish a military base at the historical end of the Silk Road from China – first step in preventing Eurasian integration (and to control heroin trafficking to Europe as a sweet cherry on top).
So far, so good. But as I already mentioned, by the end of the millennium the dying horse of US economy had turned into a leaky horse-shaped balloon that needed to be constantly inflated with loans and foreign dollar investments, so that they now had to fight two fronts: inflate the balloon and conquer the world. At the same time the EU was about to establish the euro, the first currency able to challenge the dollar as the world’s sole reserve currency. They must have realized that time is running out. I assume this had let them to make an extremely filthy deal with the Zionists and Saudi Barbarians to demolish the World Trade Center in a staged terrorist attack to have political carte blanche for the next couple of years. The attack on Afghanistan was surely still part of the masterplan to encircle Iran, Russia, and China, and to set foot in Central Asia, and thus to block the historical Silk Road at the Chinese end. It was crafted two months before 9/11 after all. However, the following actions became increasingly erratic and, I believe, they were in part deviating from the original plan. The aggressions against Iraq, Iran and Libya, be it bombs or sanctions, all had a monetary background as well. Hussein announced already in 2000 that he wanted to price oil in euro, Iran announced in 2006 to open an oil bourse trading in euro, yuan, rial and rubel, and Libya wanted to introduce a gold backed currency, the dinar, as a joined currency for the African Union (which also heavily undermined French colonial interests in Africa). This can’t be a coincidence. These aggressions, while still more or less in accordance with the original plan yet conducted hastily and often without much of a detailed plan at all, had the primary aim to save the petrodollar by preventing any alternative from emerging. Without the primal petrodollar they wouldn’t be able to run the massive deficit needed to struggle for Full World Domination (FWD). The dollar must remain the world’s primary reserve currency or the house of cards masquerading as empire masquerading as democracy will crumble. It was and still is a rat race against their own demise.
All this bombing, chaos and destruction launched upon the world since 2001 had less PNAC, let alone “Israel”, in mind, but increasingly the assurance of further dollar investments in their debt, the most precious “natural resource” to keep the colossus colossal. Imagine a big fat drug-addicted bully who pummels weaker school children to prove that he is theoretically solvent because he could theoretically take anyone’s lunch money, so that, therefore, other junkie kids borrow him money which he then uses to buy more dope to be fit enough to pummel more kids. This is how the global economy has been working in the early 21st century before Russia and China started to collude effectively to ensure Eurasian integration and a multipolar, post-dollar world.
The difference between the US regime’s pre- and post-millennial actions have been that the former had been carried out carefully, quite successfully and according to plan, while the latter had been executed extremely sloppily and, except for the case of Libya, essentially failed (if the mess is on Europe it is a success to US cartels). Russia “snatched” Crimea, EU and Iran now want to trade oil in euro, Germany is increasingly free-trading with China, Iraq is colluding with Iran, which is selling its oil in yuan to China, and Saudi Barbaria is about to follow suit. The mercenary war against Syria, last hope for the imperialists, has failed because Russia, which has resurrected under pesky Putin, has ruined it for them. If you ask me, ever since the millennium the US regime acts under increasing panic of losing not only their precious PNAC, but also their imperial lifeline: the dollar. The fact alone that the empire is now increasingly relying on mercenaries, be it Academi or ISIS, shows the desperation. The Anglo-American establishments have for about five centuries followed Machiavellian principles and the use of mercenaries is not one of them. When (not if) the dollar crumbles, the empire will never resurrect from the rubble that will be left. This was pretty much the exact situation under which the Hillary Clinton vs. Donald Trump Punch and Judy show was performed.
Realpolitik in a World of Delusions
I must admit, I still can’t quite figure out Trump, but I am convinced that the cartels’ original plan was to install Hillary in order to blind liberals with her pink hat the same way they had before blinded them with O’Bomber’s dark complexion. To liberals women and minorities are fluffy teddy bears unable to do evil stuff and if they go to war then it will be nothing but a humanitarian pillow fight. Rednecks and conservatives, however, have never caused much trouble for the cartels since they had always been patriotically following their leaders and happily joined any mayhem as the cartels’ cannon fodder. However, the latter now were so discontent with their dire social and economic situation, a domestic consequence that is inevitable for any empire, that after generations of patriotic cheering for war they had become a reliability as well. From the cartels’ view Trump turned out to be the better choice. The liberals are now too focused on his chauvinist personality and imagined Russian collusion to notice his disastrous policies, while the grumpy nostalgics still at large view him as their big Orange Hero. While the plebs are in this way tamed and focused, he surely seems to be compliant enough on issues like Syria, Iran, Korea or Zionist apartheid not to be assassinated. But he also keeps antagonizing the US cartels’ core allies in Europe, even the UK now, and that seems rather weird, doesn’t it? I consider it to be a massive sign of the deep perplexity the cartels are in.
If the US regime was a proper republic instead of a criminal enterprise and its deep state as pragmatic as, say, the German deep state, they would surely do the only right thing there is to do in their very host country: dismantle the US military empire and invest heavily in infrastructure at home. The economy would get a boost from such mundane tasks as repairing bridges and highways, but there is plenty of more room to invest. The US doesn’t even have high speed trains, it has a 3rd world power grid, and its family homes still mostly consist of heat wasting carpet boxes. There are also vast possibilities for renewable energies in sunny and windy U.S.A. which, regardless of whether you choose to believe Exxonmobil or science, offer great economic value. Imagine the number of proper jobs that could be created by just bringing the domestic US into the 21st century. That would be realpolitiks. And hopefully will be the future of the United States.
The military highway has been bloating GDP with a certain success for the cartels for years, but it’s a dead end now. Even if they had installed cattish, insane Hillary in Warshington, the US would still not be able to attack Iran – the Europeans would still not have followed, and it would still turn out a ruinous endeavor. The US empire has simply ran out of attackable enemies to pretend to be powerful. Even Venezuela would be too hard for them to attack as they’d entangle themselves in an endless guerrilla war in the jungle, something they’re not exactly brilliant at. Besides, the times when the American people still “cattled” behind every given war are over, and I don’t see any significant European nation to follow. So, what’s left to do? If they went down the road of realpolitiks, the cartels’ would lose their more than two centuries old absolute power over the US. For example, if the US brought their energy regime more closely to the 21st century, the big oil and big nuke cartels would lose out a lot to the more decentralized renewables which then belonged to farmers or local communities (a struggle that is still far from over here in Germany). Large central investments are as key in corporate capitalism round table style as they were in state capitalism Soviet style. The empire cannot be saved, but everything that could save the domestic US from its demise and collapse would in the end mean the end of the iron grip of power of Wall St, Big Oil, Big Pharma, Military-Industrial-Complex, etc. The criminal enterprise that we have known as the U.S.A. is about to come to an end either way – involuntarily and violently destroying the country or voluntarily and peacefully preserving the country. If you haven’t seen the film Der Untergang yet, I assume you should do now by all means.
The cartels don’t give a rat’s arse over the country. That’s why, instead of focusing on domestic issues, they are now going for desperate measures to try to “discipline” Europeans, Chinese, and even Rwanda with silly tariffs in order to somehow keep the global dollar regime by asserting an illusion of power – and with Europeans they’ll always find pleasurable surrender monkeys. But the dollar regime is ending. The greenback will surely remain an important currency (unless it fully collapses), but only next to others like the euro and yuan. I think, they’re still trying to figure out what to do next, not realizing that there is nothing to do next but to deviate from imperialism. The one thing they can count on, however, appears to be the infinite asininity of the American public who now seem to be less divided over Democrat vs Republican groupthink, over empire vs domestic, but more between the Great Russia Panic and the Great Jew Panic. This is painfully facepalming to watch from over here, I can tell you that with all my benevolent heart.
Collapse, civil war, disintegration seem to be ahead for the US. The world in the 2030s might even be a world without the U.S.A., entirely. Instead there might be several new countries on the North American map. And why not? Texas, California and Florida could surely do alone economically, and Hawai’i and their “howdies” don’t even belong to the US one single bit. The smartest grassroot movements in America would call for segregation of their respective state or states such as the Pacific ones. I hate to say it but my money is on a violent collapse and disintegration of the US hopefully not tearing Canada down with them. The erratic empire is downfalling, and while that’s a great thing for humanity in the long run, including for Americans who I believe will eventually benefit from such catharsis, it will at first turn out to be extremely ugly.
Sergio’s Bio: Born to a Portuguese mother and a German father Sergio was raised in Northern Germany, just two kilometers away from a British-German NATO air base. The daily sonic boom and thunder of low altitude Tornados was the sound of his childhood. They years when NATO wanted to station Pershing-2 missiles with nuclear warheads at the air base, were formative for him and he can still vividly remember the Cold War, Reagan, Thatcher, Chernobyl, the claustrophobic atmosphere, and the relief when the Berlin Wall finally fell. He makes his living as a web-programmer and IT consultant but still avidly studies studies history, geopolitics, economic theories, monetary theory, Hegel, Nietzsche, Marx and music.
Very powerful material in support of a wish.
The fact that remains key in analyzing the U.S. is the Elites of American Empire are in control of all the levers of Power, especially financial power. Yes, China has Wealth, also. But the daily movement of capital, real and ephemerally digital, is in the hands and minds of the Elites. They see the processes and understand them better than all the rest of the world.
Blockchain and cryptocurrencies are their new game to control the future.
The notion that some collapse is going to occur without their hand is naive.
They will construct whatever future is coming as much and more so than Eurasia/New Silk Road/BRI.
They create chaos as gameplay. They surf disasters and systemic shocks with great dexterity and balance.
The US may be transformed after Trump and MAGA have their run. But the Elites running the show now will be running the show later.
To assume some “new” thing will be different is very much a wish.
It is much more likely that Wall Street and the billionaires of MIC, Silicon Valley and MegaGlobal corporations will be just fine with the post-dollar planet.
To be rid of these bloodsuckers who are yet not content with 99% of the Wealth of the Globe seems to be out of reach of all present challengers.
China is stumbling forward with its economy and Russia is too small economically to impact the US dollar.
Possibly, the US debt, all debt, might eventually strangle the beast, as, like Uroborus swallowing itself, it chokes on its own tail.
I think ascribing omnipotence and omnisciensce to the elite is a bit much. They have managed to run all the planetary systems into the ground to the point where they’re planning on bugging out to underground bunkers or fly to Mars to live in miserable bunkers there. They don’t know what they’re doing, and they cannot predict every consequence of their madness. They wouldn’t be spending so much on preparing for collapse if they didn’t know the game was up, and their preparations show a lack of imagination and powerlessness to truly get themselves out of the mess they’ve created. So I must agree with the author here that they have overplayed their hand.
You said it very well, Krungle. And I also agree with the author. The elite does not have a solution for their mess. And they do not care about anybody else. It is our term to take the lead.
I agree, Larch. gives the elites too much credit. Not they won’t try… but they are few, and at some point, the game will be up. The question is when (G. help us, though, when the time comes; they won’t go quietly). This is an excellent essay, with many on-target observations. (Only two points – WWI was also fought partly to preserve UK’s empire; and saying “state capitalism Soviet-style” is a very inaccurate, albeit facile, description of socialist economies (it may be fashionable now to use this simplification, but it just reveals a lack of serious analysis of what was the socialist world)).
And here is a companion piece: https://www.counterpunch.org/2018/07/27/the-grand-illusion-of-imperial-power/
Well, I think Larch is correct. What you fail to see is the fact that the “elites” are the ones who generally hold 49% of all the investment (companies) in China. The money as Larch describes does move from one pocket to another of the same club.
Example:
I always used ASUS mother boards. ASUS had always been considered Taiwanese Company, yet it is a Seagate Company. How I know it? Some time ago I had to look at the details of one of my mother boards using one of Linux’s gadget programs do do this and there it was, it said it clearly “ASUS a Seagate Company”.
If these “elites” are planning a Mars trip, I hope they all have one way tickets!
Ah, the lessons of hubris that the Greeks wrote endless volumes concerning, are so we’ll studied and respected by Western elites that for them hubris has no vector of contagion. As the author’s New York friend advises, “money talks, bullshit walks”. Nation’s across the world have been shedding their USD reserve. Historically they held 55% in USD. Today nation’s hold half that amount and they quietly keep shedding. Evidently, the money is saying the managers of the 500 year western Empire are reaping the bitter crop of their own hubris.
LM445
Anything that is a threat to US dollar hegemony is a threat to US hegemony. Anything that reduces global demand for US dollars like a country’s central bank accumulating gold or a country using other currencies instead of US dollars for trade settlement is “bad” for US dollar hegemony. This is why Russia, China and Iran are on America’s shit list and why in the past Iraq and Libya were too.
http://www.unz.com/mhudson/money-imperialism/
In 2006 the Fed raised the fed funds rate to 5.5%. For the economy that was considered to be neutral. That is, not inflationary and not deflationary. Because of using too much debt as leverage to increase return on investment a lot of unpayable loans were the result. That created the financial crisis in 2008.
Between Russia, China and Iran, corporate malinvestment using debt as leverage and bureaucratic waste in the MIC and Intelligence complex, it’s a safe bet to bet on collapse via financial crisis part 2.
You dramatically overestimate the competence of the psychopaths in Versailles on the Potomac. Don’t bother buying the “psychopathic fiction” that they’re the “ideal evil geniuses”. After they’ve finished using Uncle Sam as their minion they’ll disappear with the loot. That is the way psychopathic scams operate.
Psychopaths tend to eventually self-destruct.
I agree with you I don’t think they are particularly intelligent – their fraud works just because they are good actors and lie so outrageously that common sheeple find it hard to imagine that anyone would be so evil to lie that way.
There are a few dirty tricks they use like that – that’s their ‘power’ – once you see through their cheap tricks – they lose their evil influence.
I saw a good explanation of one of these tricks in a recent article on Moon of Alabama:
” A typical Israeli propaganda scheme is to falsely claim that an agreement with some entity has been made and to then push that entity to stick to a “deal” it never agreed to. Israel dislikes any ‘Iranian presence’ in Syria. It tries to press on Russia to push Iran out of Syria by claiming that Russia offered or made such a deal. ”
Trump uses a similar trick:
“Assuming the sale” is a known bully technique. Hardly a surprise coming from a 4x bankrupt real estate hustler.
I read that article at MOA. How laughably pathetic.
I recommend reading this one.
http://www.unz.com/runz/american-pravda-oddities-of-the-jewish-religion/
thank you I ordered that book and posted your article on FB
The US doesn’t have debt. It runs a deficit. To conflate the two is to be ignorant of the current system post Bretton Woods.To have a debt, the US would have to owe in currency other than the US dollar. The wider public (politicians included) can’t seem to get this through their skulls.They really believe that the US needs tax dollars to fund SS or Medicare, or for that matter to bail out banks.
Could you explain this in a bit more detail? Thanks!
It is just offering further evidence to the statements “Anything is possible when you don’t know what you’re talking about.”; it has no idea of how fiat money systems work.
The FRN on paper is merely the manifestation of some debt somewhere else. Most of those debts are in eDollar form. It makes no difference as they were ALL borrowed into existence by somebody at some point in the past.
Without MORE borrowing in the future the interest owed on the debt that created today’s money can never be paid. Or, it can, but then there is inadequate remaining money to repay the principal; this is very simple math.
And the defacto coupon rate on any denomination FRN is inflation. So P + I(nterest) = P – I(inflation). The rate of printing to meet I(interest) will be proportionate to the rate of I(inflation). And both accelerate exponetially because that’s how the math works.
If P is outstanding now, and P+I is owed one year from now, SOMEONE *must* borrow that extra I in order for it to EXIST in a debt-money system. So central banks have been taking up the slack since the financial crisis. How do you think their balance sheets have exploded? They literally have printed up I.
This is what happens with unbounded exponential functions (interest in a fiat system) in finite energy (oil based) systems.
Removed – no attacking the author. Mod How did Keynes’ predictions work out? They didn’t.
Removed. No attacking other commenters. Mod Change is eternal in human society, over time nothing remains the same, nothing remains at the top forever. That much should be self evident. It should also be clear that change happens not because of this or that good/bad man, good/bad countries/nations/religious groups but because of basic forces that operate on human societies.
Historians, political economists, social theorists and other scholars analyze junctures of “break” and change in human societies. The intention is not to offer prophecies but to analyze the forces at work to better understand what is happening and where it could lead to. This kind of analysis the author has performed with a scholarship that is outstanding in its sweep and detail. The results of this kind of analysis can never be exact like a chemical analysis but often do advance human understanding.
Sergio’s analysis is excellent. Please see my own articles on Global Research, including the following:
https://www.globalresearch.ca/religion-and-geopolitical-strife-helped-create-the-world-crisis-spirituality-shows-the-way-out/5639143
The factor that is often overlooked is the fact that the supercharged debt-based financial system requires so much production to overcome debt that it has destroyed the planet’s ecology. We are seeing one of the great species die-offs in global history. This is especially affecting the species at the bottom of the food chain–insects on land and plankton in the oceans. Germany is in the forefront with its Bayer/Monsanto merger monster. (Germany is losing its pollinators too!). Contrary to Larchmonter, the situation is not under the control of an elite with semi-divine characteristics. Pull the plug and none of their stuff will even turn on.
btw, if Sergio wants to talk, my email is at the end of the Global Research article.
No, I don’t think that a collapse of the US and it’s potential breakup will drag Canada down with it. The President of Canada is the Queen of England, who has her Governor General in Canada. I always found this very amusing, Canada ostensibly being a sovereign country, when it’s nothing of the sort. The Queen of England directly controls Canada, being it’s President. The Rothschild’s (and the Queen) control the US through the Federal Reserve, a private central bank. Until 1776 the American colonies were controlled by the British Crown. After 1776 the US was, and is, controlled by the Rothschild’s, who use it for wars of conquest. How many years has the US been at war since it’s inception ? For most of it’s existence.
Can the US break up ? The answer is yes. In fact ten years ago Igor Panarin, the Dean of the Russian Diplomatic Academy, predicted the break up of the US into six parts, with the northern states joining Canada. The impression is that this has been planned years ago. Most Americans don’t know that in the Montana-Colorado region there is more oil than in Saudi Arabia. This oil is untouched. It’s obviously been reserved for Canada.
What happens when the US breaks up ? Canada takes over from the US with the Queen of England at it’s head. The newly created states on the territory of the former US will unquestionably fall under Canadian political influence, ie. under the indirect control of the British Crown.
And the current US dollar ? If it’s lucky, it might find itself along the yuan and ruble. However, I don’t see either the dollar or the euro surviving, as both are printed backed by nothing. According to Dr Jim Willie, the US Government is even preparing the introduction of a new, domestic dollar.
“The President of Canada is the Queen of England …”
Uh, I think a somewhat more diligent effort may be required to understand the Queen’s role in the parliamentary system of governance as it applies under Canada’s constitution. Perhaps the least important of many misunderstandings is the fact that the “Queen of England” has no involvement whatsoever. Elizabeth II acts “in right of Canada” via her Governors General only as nominal “Queen of Canada” and not as “Queen of England.” Furthermore, with only a very few narrowly defined exceptions, she does so only on the advice and with the consent of Parliament as conveyed via her privy council.
As for Canada “tak[ing] over from the US with the Queen of [Canada] at it’s head”, I’d be all in favour of some such fairy tale ending were it not for the probable massive influx of U.S. refugees. :)
Accessible oil in Montana and Colorado? Or like oil is the level the Rockies and use the remaining fresh water in North America to frack it? The reality is that for all practical purposes there’s probably less than a few decades left of any important resource. That’s a predictable outcome of an infinite growth economy on a finite planet.
Krungle
You should mosey over to Gail Tverberg blog http://www.ourfiniteworld.com for some fascinating info about this very topic. there you will find many bloggers using the term delustani’s to describe the imminent collapse of the industrial revolution and some peoples hope that renewables are going to save us. lol
“It’s” is a contraction of “it is”, as in “It’s a lovely day,” or “If it’s lucky…”.
“Its” is the possessive case of the third person singular pronoun “it”, denoting something as belonging to an “it”, as in “For most of its existence”, or “…being its president.”
Also, an apostrophe followed by an “s” can indicate possession, but never plurality, so one writes “…controlled by the Rothschilds” to indicate the latter, because, when confronted by “…controlled by the Rothschild’s…”, one asks, “controlled by the Rothschild’s what? Their influence? Their dog?”
These comments are offered constructively and respectfully; they are not intended to put anyone off nor to attack anyone.
BF, I think you earn a – slightly edited – version of Larchmonter’s original comment on Sergio’s piece: ‘Not very powerful – in fact rather delusional – material in support of a wish.’
Good luck with Greater Canada, especially with the – supposed – Saudi America under Montana/Colorado! You’ll need it.
No! The people of America will decide; and, if you are familiar with human history, you will realize that the decision will be decisive.
Have you read the papers lately? :-)
“World of Delusions”
he got that right.
I bet Merkel sh!ts daily her pants thinking about the
$70 Trillion derivatives DeutscheBank sits on, or the
rise of euro-sceptic parties all over EU, or the
% of foreigners in Germany (almost 20 million or 25%) and what happens
when they start demanding political representation and schools/TV/newspapers in their native tounges, or
german exports having trouble finding new markets, while current markets are shrinking and disappearing (Germany bankrupted the smaller EU states – no purchesing power; lost the Russian market bcz of the sanctions; and now Trump is setting tariffs, China too btw LOL so much about ‘Germany is increasingly free-trading with China’)
But you know, good news is, during the Helsinki meeting, Tusk & drunktard Junckers were
‘free-trading’ in Japan, and Abe agreed to buy some danish cookies (LOL I sh!t you not).
@RATM
It’s worse. Merkel is not shi*tting er pants, she doesn’t care sh*t.
She is te bitch of fossile Georgyi Schwartz, aka George Soros. On te contrary of the eugenetics fashion of a century ago, where the striving was to create a pure Nordic race, the striving now -especially in Europe- is an insane striving to create some kind of degenerated mocca race.
These are the ideas of Richard Coudenhove-Kalergi.
And that is not while that should be ‘better’, but just to be better ‘controlled’.
The only thing that they want is power. They don’t give a rats ass about us.
Even when Merkel is chased out of Germany, this infertile ex-Stasi officer will retire smoothly on a tropical island, surrounded by her beloved Africans, who whisper every day in her ear ‘Sie sind machtig, sie sind geil’ on which Angela will giggle ‘O ja, hihihi’.
Cheers, Rob
This line in the article reveals lack of will to look:
Lord Keynes was one of the few if not the only competent of capitalist economists.
No, the only one still is Karl Marx. With Karl the article would make a better sense.
Nope. Marx was an agent of Banksters and Industrialists. Please leave him in his grave; he caused enough destruction.
Marx was an agent…and let him starve to death!!! he did not get paid! what kind of agent is that?
he lived awfully well for someone not being paid
He meant the only competent of those around. Karl was dead by that time.
Karl Marx was not capitalist. He studies Capital and denounced it for what it really is.
@OP
I wholeheratedly agree with the notion that this system is based on shortsighted, unfettered greed and lust for power.
@Larchmonter445
I can’t really say much about where they have their hitmen as ultima ratio weapon. But one sign of the anglo elite not being in control is the impending ecological collapse. If the emission of insane quantities of pollutants of any nature, the accelerating global warming and the annihilation of large parts of the biosphere don’t stop, the end will come far quicker than most realize right now. This will ruin the lifestyle and powerbase of the current elite.
Hey Darkmoon
Love it when I see your comments around the web and knowing you have been to Gail’s blog (note from mod: removed – please respect the moderation policy, Rule 10, of not promoting other sites. You have already promoted the site under this article already) here is an interesting link to consider in light of all of the saber rattling going on:
https://en.wikipedia.org/wiki/Hanford_Site”
How true. Most people today are city dwellers. They don’t “viscerally” understand that humanity depends on nature.
“America is run by a bunch of mafia cartels no better than street gangs – Wall St, Big Oil, Big Pharma, Big Media, Military-Industrial-Complex etc. – with the Federal Reserve as their giant money laundering corporation, a bureaucracy of ridiculous proportions as both the mafia’s hitmen (CIA, Pentagon) and legal front (Congress), and the US president as the constantly changing promotion mascot. ”
Nailed it. You forgot the agriculture/food industry which produces expensive, yummy garbage carbs.
.
New support & resistance levels for gold and the US Dollar index for August. make things very interesting from a unipolar vs multipolar world. Also on the weekly chart gold has fallen to the 200-week moving average and gold sentiment is very bearish. That’s both bullish for gold. I expect a multimonth rally in gold to begin and the US dollar index chart to do the opposite.
US dollar chart: http://schrts.co/VBm9ga
God chart: http://schrts.co/fNJYbh
” and gold sentiment is very bearish. That’s both bullish for gold.”
I don’t understand what you are saying.
These statements sound like opposites.
Can you explain??
Katherine
Sure I can explain, Katherine.
You can categorize participants in an investment market like gold or US dollar futures as big fish or little fish. Trends in a market can be bullish(an uptrend) or bearish( a downtrend) and can last for months or years.
The bigfish are much more likely to guess correctly that a major trend change is occurring compared to littlefish and therefore “eat the littlefish” at major market trend changes.
So when I say that gold sentiment is very bearish it means(based on the commitment of traders report for gold) that the littlefish have very bearish sentiment, are probably wrong and therefore a trend change from downtrend(bearish) to uptrend(bullish) will probably occur.
Additionally, given the fact that gold has fallen to the 200 week moving average(a very important fractal number) it’s highly probable a very import low will occur now and gold will start a major uptrend.
If you look at these two weekly charts of gold and the US dollar index in relation to their 200-week moving averages, you can see it’s highly probable that gold has found support on it’s 200-week moving average whereas the US dollar has found resistance on it’s 200 week moving average. Therefore major trend changes for gold and UD dollar futures will probably occur now..
http://schrts.co/B8ZaJY
http://schrts.co/6gycA9
Got it Katherine?
“Frightened men of property”? Franklin? Hamilton? Washington? F*** you.
Try to get on a true track, which was only very partially ever been applied, being hard for our heroes to continue against headwinds and bullets in the head from the London/Wall Street forces. Still, America was the greatest in history at applying methods of production…until its actual end in 1963.
America is gone, but do not forget those few great men and women who made great decisions and/or gave their life trying to get one more mile, or inch, further, the greatest of which was Franklin, Hamilton, Washington, Q. Adams, Clay, Crockett, Lincoln, Garfield, FDR, Eisenhower, Kennedy.
You make light of the accomplishments of these People. Why should anyone put their life on the line when intelligent people make little of what they did?
George Washington was the second richest man in what would become the United States of America.
James Madison admits it openly: “[The new republic] ought to be so constituted as to protect the minority of the opulent against the majority”.
So yes, frightened men of property.
Agree. This is cloudy thinking.
I’d rather not assign motives to people because it’s impossible to do without prejudice. Sometimes the written communications of a long dead person can be used to explore what was going on in his/her mind, but that isn’t always available. In the case of the founders, what we do know of them indicates that they were strong men of conviction and faith. Washington was a natural born leader.
The historic record is usually a pretty reliable indicator of accomplishment. The founders established a republic and gained their freedom at great risk to themselves and their property. Frightened men of property? Rubbish.
The author is right about the founding myth of the USA. In the prelude to 1776, the abolition of slavery seemed all but inevitable in London, delighting Africans as much as it outraged american slaveholders, and sparking the colonial revolt.
Prior to 1776, anti-slavery sentiments were deepening throughout Britain and in the Caribbean, rebellious Africans were in revolt everywhere. For European colonists in America, the major threat to their security was a foreign invasion combined with an insurrection of the enslaved. It was a real and threatening possibility that London would impose abolition throughout the colonies – a possibility the founding fathers feared would bring slave rebellions to their shores. To forestall it, they went to war.
Dr. Gerald Horne asserts that the so-called Revolutionary was in part a counter-revolution, a conservative movement that the founding fathers fought in order to preserve their right to enslave others. We see the same reationary sentiments expressing themelves with Trumps appeal to the hoi polloi to make america great again. Alas, the last great hope of america is facing a very formidable international configuration of power. Gerald Horne’s thorough and documented research on the counter-Revolution of 1776 brings us a radical understanding of the traditional heroic creation myth of the United States. What we see now are the premisces to the final chapter. The parasites of capital centered around wall street US dollar instruments are running out of viable hosts to continue their expansionist manifest destiny. It appears that the shining city on the hill has hit a brick wall, repeatedly colliding with competitors like China building their own independent center of power.
https://www.youtube.com/watch?v=2Snzl41lX54
The American Revolution was also caused by the desire of colonists to expand further, exterminate the Redskins and steal their land. The British colonial rulers were unenthusiastic about this because they didn’t want to have to foot the bill for expensive protracted wars against the natives.
The Articles of Confederation seemed to make a lot of sense.
In school, The Constitution was heralded as so much better because a larger federal government could deal with foreign policy and pay foreign debts or some other such garbage.
What a great article, thank you very much.
You know the more I learn and the more I see of Washington’s ways the more convinced I become that she is the city of Babylon mentioned in the Book of Revelation. Rev. 18:21-23
You won’t find many agreeing with this in the American religious experience however, lol and would of course come as great shock and sin too many. Yet it remains that her sins are truly piled up to heaven.
She like Rome of old is the power that wields the sword over the world and like Rome she to has or sits rather on 7 hills which the Book of Revelations mentions.
She is also one of the most if not the most idolatrous nation in the history of the world bar none which unfortunately the author doesn’t mention.
“God is invoked but it is a Deistic faith and not theistic in any way shape or form. It is certainly strange how this city along with Washington and London, England are inextricably intertwined with Freemasonry? In fact, apparently every capital of the world next to even the most obscure of towns has some measure of this secret society working within their midst? Idolatry pure and simple but why!? Furthermore, just do a google search of obelisks and pyramids and ask yourselves why and what fore these things? Even the American dollar bills boast of this, a pyramid with the all-seeing eye? This is their symbol! Who are they honoring and worshipping? I believe the name JAHBULON comes to mind? A mixture of the holy and the profane! She has always portrayed herself as a city of wealth, power and prestige truly a city that never sleeps. If she isn’t comparable to the Rome or Babylon of old!?” source Let the Reader Understand by Gerry Fox
Furthermore, why is it that anyone who tries to do the right thing politically in America winds up dead and this under very unusual and inexplicable circumstances? How many other nations of the world have lost leaders in such a way?
and then there are the words of that Marine General Smedley Butler {1881-1940} who referred to himself as little more than “a high-class muscle man for Big Business, Wall Street and the bankers.”
“I helped make Mexico, especially Tampico, safe for American oil interests in 1914. I helped make Haiti and Cuba a decent place for the National City Bank boys to collect revenues in. I helped in the raping of half a dozen Central American republics for the benefits of Wall Street. The record of racketeering is long. I helped purify Nicaragua for the international banking house of Brown Brothers in 1909-1912. I brought light to the Dominican Republic for American sugar interests in 1916. In China I helped to see to it that Standard Oil went its way unmolested.” {War is a Racket 1935}
Lastly, here is an interesting bit of info about the advisor Kissinger:
“Cite this when trying to show people the left-right paradigm is false: Henry Kissinger has advised the last 10 presidents, for 54 years, while being a protege of David Rockefeller. He’s the middleman from a different level of the elite, to the politicians who get what they want done.
Who was the last president to not be advised by Kissinger? John F. Kennedy. I don’t know the story to why that is, we can only imagine.”
Removed – rule 10. Mod
Isn’t there a saying or belief rather that keeping a lie going only lasts for so long until it buckles under the truth.
Good article. I agree with lot of facts, however in my opinion Israel Jewish elites will find way to made a deal with Russians to divide Europe. Kabalistic aristocratic parts and yellowish liberal values will eventually fall of. They become to strong and arogant, to self confident what become a threat even to Family members. Europe and muslim countries will pay the biggest price and become again american way out. Why, because of differnecies in mentality, financial power, german imperialistic dreams, french self conceit, others poltronism, eastern european rancor toward Russia, suni-shia animosity etc. Remember, black red internationale are going always hand by hand. Like Junker and Barosso. Russia will not protect Iran or Americans will Saudis but both of them will protect Israel. China would, but it is to weak military. If America want to give self a dope it will certainly attack Iran. Before China become military power. Europe without american satelite web or gps is easy bite. New Jalta, Postdam, Teheran are coming. They have two more years of Trump mandat. Russia as a good cop help them dismantle North Korea threat. To nuclear, to close to partner borders. In a new political map Russians will lift hands of South America, the same will do Americans pragmaticly with their so called partners in traditionaly Russian Europe and Central Asia.
Good article if you wanna hone your gatekeeper-detection-skills.
1) Native European population is decreasing with rate of 20% every generation
2) Native Russian, Ukrainian and Belarussian combinate population is decreasing 25% during next generation
3) USA white population is decreasing 10% during next generation
4) US population in not decreasing but is almost stable even without immigration
5) Future belongs to Africa. And most of people are still unaware of it
Comparing Russia to Africa the gap is becoming huge. In this world those who don’t want to breed will be wiped out by demographics. We are moving to totally different world and that’s why it’s time to stop wasting your time to some Zionazi nonsense talk. These things are becoming irrelevant compared to that big picture. At the same time Russians have been fooled to worship some Great Patriotic War and Victory Day religious cult very far from reality of younger generation of Russia.
‘…the infinite callousness and arrogance of the English upper class…’ as opposed to the all round excellence of the Prussians? hahaha
Americans have some unique and admirable traits, personally and in business. The aristocratic explorers of the British Empire also had their share of exceptional qualities. All nations have their good and bad sides and ‘every dog has its day’.
The author lost me with a terrible, propaganda-tinged, mis-characterization about the Occupy Wall Street movement early in the piece. All he told me was that he was glued to a screen of whatever Fox News had to say about that event, and that he absolutely certainly did not get out and go to any of those very public and open sites to actually meet and talk with the people he now snarls at.
So, he now writes for a blog against the empire, but when an actual opposition movement against the empire arose he didn’t feel it was worth getting out of his couch to see what was going on. And by that, he missed the fact that it was a very open movement that was created by the people who showed up and that his voice could have been a part of it and have influenced it. At the very least it was open and people were willing to talk and anyone who wanted could have shown up and discovered what was going on. I remember a lot of conversations in a space around a revolutionary movement that encourages political thought and talk and the whole experience was quite fascinating. Even if someone didn’t agree with the people there, just an interest in freedom and expression and political conversation should have drawn anyone to it. All spiced with that spirit of real freedom that comes around a movement with intent to change the system. Even if you don’t agree, its a heady atmosphere to those who love the taste of freedom. Too bad this gentleman couldn’t bother to visit.
Come back when you’re feeling better. This is could be the start if a momentous duscussion
So, Anon: Where is ‘Occupy’ now, exactly…? Did all that frank, egalitarian discussion (oh how they luuurve to chatter!) produce any actually-enduring and actually-effective organisation?
Rhisiart Gwilym: Where is occupy now? Do you pay any attention to the news? Ever hear of Bernie Sanders? Occasio-Cortez? The tumult now unfolding in the Democratic Party? Occupy is alive and well. The millennials’ influence is slowly growing.
“but when an actual opposition movement against the empire arose ”
I’m not sure it was not rigged since day 0.
It was kind a spin off of spanish 5Mayo movement.
That was also supossed to be grass roots, but they had a comms tent with high end equipment and diesel generators from day 0.
Brilliant, SIMPLY BRILLIANT. Sergio Weigel has managed to put together in a single article the key political, geopolitical, economic, and historical forces at work to shed light on our present, has coherently explained its past trajectory, and provided a very impressive framework for predicting the future. It is rare to see someone combine such deep insights into history, geopolitics, economics all in one go. And it is rarer to find someone with the ability to express ideas in crystal-clear, well-written, and pleasing prose.
Sergio: where have you been hiding so far? Why on earth don’t you write and publish more??
I would like to touch on the future of Canada, as a Canadian who has lived in two provinces and travelled to all ten.
The future of the nation as being overrun by American refugees is a possibility and not one I like. Better US states ask to join us but have their citizens remain in their homes. This may work in a total collapse. I have travelled to 15 US states. I would welcome many along the border, Alaska and Hawaii as well.
Oregon could join as well.
If we were actually sovereign we could become a world power, but as we are so weak and a pathetic vassal state of the cabal, it probably won’t end anywhere near as smoothly as a few referendums.
If our economy gets smashed like the American one will, I see the country breaking into pieces as well. Quebec would go off by itself and then the remaining regions would just panic and attempt to join the US rump nations. BC would join California, the Atlantic provinces the New England Republic, Newfoundland might return to the UK.
Canada is not a very united country, its so big and the citizens are generally pathetic at learning about other Canadian regions.
Excellent, deeply considered body of thought. No time to address the many great points made, but one stands out.
I agree, and I further believe its extraordinariness is deeply intertwined with the fact that its rise coincided with an ahistorical moment in human history.
Born at the inception of the age of chemical energy, with a huge, rich continent’s worth of resources to exploit at marginal cost, the USA was in a unique position amongst nations. Harnessing the energy embedded in hydrocarbon molecules, a century of coal put down the foundations that underpinned the century of oil & gas, and turned on the afterburners that drove a great discontinuity in human development. During those 2 centuries, a mere 10 generations, the human population exploded to more than 7x what it was in 1800, and the plunder of the earth’s resource wealth accelerated at a rate vastly exceeding even that.
The propitiousness of the moment did not escape at least some of the elites, but how to ride that tiger? All of the old ways and means of control that oversaw millennia of evolutionary human development would no longer suffice if the moment was to be grasped. Faced with what some realized would be a one-off, never before/never again step function in wealth generation, they responded by developing a system of control suited to maximizing the growth, and taking the maximum benefit from what was coming. The age of wealth extraction by military conquest was over, and the age of financial empires was born. From now on, physical wealth generation would take place within a set of enabling rules dictated by a ghostly parasitic structure overlaying all human action. The structure, nominally known as international finance, both ensured the fastest possible development of resource exploitation, and of course, the siphoning of the wealth generated to the hands that created it.
As the extraordinary growth in physical wealth that the structure fostered approached its natural limits, and the end of the age of financial empires loomed, the elites went for one last hurrah of wealth extraction. For this, they tweaked the rules where they couldn’t change or delete them outright, and created a new class of professionals, so-called “financial engineers” to maximize the extraction opportunities the new loopholes made available. The structure thus began siphoning existing wealth rather than depend on real growth for its livelihood. Now even that is approaching its limits, and so here we are.
Anyways, great essay. Thanks.
I have an appetite for more facts and less hot air. The author writes, “But it’s also the American people, serfs to the empire, who are desperately clinging. That’s what I found so appalling about the Occupy movement. These millennial brats had no political agenda but to demand their cheap flat screens back from the banksters. They didn’t want change, they wanted continuity.”
The less you know, the truer this and so much else Sergio Weigel says seems. I trolled my records for Occupy demands and came up with the following, which sounds like more than demands for their cheap flat screens back from the banksters:
http://occupymediapoints.blogspot.com/2011/11/occupy-wall-street-fact-sheet-in-case.html Thursday, November 10, 2011
An Occupy Wall Street Fact Sheet in Case You Get Hit Up by the Media. MEMORIZE THESE!
…- (What is Occupy Wall Street about?) OWS is about stopping the transfer of the wealth from the middle class and the working class even further into the hands of one wealthiest one percent. This is done through bank bailouts, through war profiteering, and other forms of crony capitalism. They only call it class warfare when we fight back.
– According to former Special Inspector General for the TARP bailouts Neil Barofsky, the American taxpayer may have to pay up to $23 trillion in bailouts as a result of the bailout deals made between corporations, mostly banks, and the government in 2008. To put that in context the US federal budget is about $4 trillion a year. (Politico, 7/20/09)
– Bank of America just moved derivatives nominally valued at $75 trillion into FDIC-insured accounts, putting the taxpayer on the hook for potentially trillions of dollars for bad casino debts (bankers bet in the subprime mortgage crisis that housing values would go up forever, which is stupid because nothing goes up forever. ) (Avery Goodman, 10/20/11)
– All means-tested entitlement programs, including Medicaid, food stamps, AFDC, SSI, child nutrition programs come up to about 7% of the yearly federal budget. The bailouts eat up a good part of any discretionary money that’s left after the Pentagon’s $700 billion a year, and interest on the national debt is about ten percent of the yearly budget. That is at least 20% of the budget the American taxpayer is getting nothing for in return, much more if you consider that the Pentagon budget is filled with enormous waste. The bailouts disproportionately benefit the wealthiest 1%, and because the debt limit is being increased every year, we are printing money and devaluing the currency to pay for these bailouts. (“Occupy Wall Street Talking Points,” WarIsACrime.org)
– What is the 99%? Many people don’t know that if the total wealth of America were represented by a pie, 1% of the population would own fully one-third of that pie, and 99% would own the rest. And that concentration of wealth has been getting more concentrated for 30 years. (Business Insider 4/9/10)
– We spend $120 billion a year for military operations in Afghanistan, but for 5% of that we could end the war by giving Afghans infrastructure programs run by a clean ministry, the Afghan National Solidarity program. Half of Afghans are malnourished after 10 years of occupation, and that is shameful. We should give them reparations for bombing the heck out of their country and get out. (“Quran Burning Touched Dry Tinder of Afghan Misery,” DailyKos.com, 4/4/11)
– Occupy Wall Street wants to get the money out of politics. Most people don’t know that on average 80% of congressional campaign contributions come from outside the district. Ban money from outside the district, including special interest or corporate money of any kind, and make congressmen work for the voters again. Personal donations from within the district only. I don’t have any business giving money to your congressman when I have my own. That’s called bribery. (“Demand to Get the Money Out of Poltics,” Truthout.org) …
Occupy Proposed Demands for Congress
soul secret service
Dedicated to getting good stuff seen and heard.
Here is a second Occupy Cheat-Sheet that I saved when it was posted.
Occupy: Proposed Demands for Congress
Posted on November 29, 2011
Here’s a proposed list of demand and things we can start pushing for now …
FROM — http://coupmedia.org/occupywallstreet/occupy-wall-street-official-demands-2009
LIST OF PROPOSED “DEMANDS” FOR CONGRESS
1. CONGRESS PASS HR 1489 (“RETURN TO PRUDENT BANKING ACT” http://www.govtrack.us/congress/bill.xpd?bill=h112-1489 ). THIS REINSTATES MANY PROVISIONS OF THE GLASS-STEAGALL ACT. http://en.wikipedia.org/wiki/Glass–Steagall_Act — Wiki entry summary: The repeal of provisions of the Glass–Steagall Act of 1933 by the Gramm–Leach–Bliley Act in 1999 effectively removed the separation that previously existed between investment banking which issued securities and commercial banks which accepted deposits. The deregulation also removed conflict of interest prohibitions between investment bankers serving as officers of commercial banks. Most economists believe this repeal directly contributed to the severity of the Financial crisis of 2007–2011 by allowing Wall Street investment banking firms to gamble with their depositors’ money that was held in commercial banks owned or created by the investment firms. Here’s detail on repeal in 1999 and how it happened: http://en.wikipedia.org/wiki/Glass–Steagall_Act#Repeal .
▪ Vote on Demand #1 Here
1. USE CONGRESSIONAL AUTHORITY AND OVERSIGHT TO ENSURE APPROPRIATE FEDERAL AGENCIES FULLY INVESTIGATE AND PROSECUTE THE WALL STREET CRIMINALS who clearly broke the law and helped cause the 2008 financial crisis in the following notable cases: (insert list of the most clear cut criminal actions). There is a pretty broad consensus that there is a clear group of people who got away with millions / billions illegally and haven’t been brought to justice. Boy would this be long overdue and cathartic for millions of Americans. It would also be a shot across the bow for the financial industry. If you watch the solidly researched and awared winning documentary film “Inside Job” that was narrated by Matt Damon (pretty brave Matt!) and do other research, it wouldn’t take long to develop the list.
▪ Vote on Demand #2 Here
2. CONGRESS ENACT LEGISLATION TO PROTECT OUR DEMOCRACY BY REVERSING THE EFFECTS OF THE CITIZENS UNITED SUPREME COURT DECISION which essentially said corporations can spend as much as they want on elections. The result is that corporations can pretty much buy elections. Corporations should be highly limited in ability to contribute to political campaigns no matter what the election and no matter what the form of media. This legislation should also RE-ESTABLISH THE PUBLIC AIRWAVES IN THE U.S. SO THAT POLITICAL CANDIDATES ARE GIVEN EQUAL TIME FOR FREE AT REASONABLE INTERVALS IN DAILY PROGRAMMING DURING CAMPAIGN SEASON. The same should extend to other media.
▪ Vote on Demand #3 Here
3. CONGRESS PASS THE BUFFETT RULE ON FAIR TAXATION SO THE RICH AND CORPORATIONS PAY THEIR FAIR SHARE & CLOSE CORPORATE TAX LOOP HOLES AND ENACT A PROHIBITION ON HIDING FUNDS OFF SHORE. No more GE paying zero or negative taxes. Pass the Buffet Rule on fair taxation so the rich pay their fair share. (If we have a really had a good negotiating position and have the place surrounded, we could actually dial up taxes on millionaires, billionaires and corporations even higher…back to what they once were in the 50′s and 60′s.
▪ Vote on Demand #4 Here
4. CONGRESS COMPLETELY REVAMP THE SECURITIES AND EXCHANGE COMMISSION and staff it at all levels with proven professionals who get the job done protecting the integrity of the marketplace so citizens and investors are both protected. This agency needs a large staff and needs to be well-funded. It’s currently has a joke of a budget and is run by Wall St. insiders who often leave for high ticket cushy jobs with the corporations they were just regulating. Hmmm.
▪ Vote on Demand #5 Here
5. CONGRESS PASS SPECIFIC AND EFFECTIVE LAWS LIMITING THE INFLUENCE OF LOBBYISTS AND ELIMINATING THE PRACTICE OF LOBBYISTS WRITING LEGISLATION THAT ENDS UP ON THE FLOOR OF CONGRESS.
▪ Vote on Demand #6 Here
6. CONGRESS PASSING “Revolving Door Legislation” LEGISLATION ELIMINATING THE ABILITY OF FORMER GOVERNMENT REGULATORS GOING TO WORK FOR CORPORATIONS THAT THEY ONCE REGULATED. So, you don’t get to work at the FDA for five years playing softball with Pfizer and then go to work for Pfizer making $195,000 a year. While they’re at it, Congress should pass specific and effective laws to enforce strict judicial standards of conduct in matters concerning conflicts of interest. So long as judges are culled from the ranks of corporate attorneys the 1% will retain control.
▪ Vote on Demand #7 Here
7. ELIMINATE “PERSONHOOD” LEGAL STATUS FOR CORPORATIONS. The film “The Corporation” has a great section on how corporations won “personhood status”. http://www.youtube.com/watch?v=8SuUzmqBewg . Fast-forward to 2:20. It’ll blow your mind. The 14th amendment was supposed to give equal rights to African Americans. It said you “can’t deprive a person of life, liberty or property without due process of law”. Corporation lawyers wanted corporations to have more power so they basically said “corporations are people.” Amazingly, between 1890 and 1910 there were 307 cases brought before the court under the 14th amendment. 288 of these brought by corporations and only 19 by African Americans. 600,000 people were killed to get rights for people and then judges applied those rights to capital and property while stripping them from people. It’s time to set this straight.
Great list of chatterati talking points Michael. Have they actually got anywhere? Is there a -still-thriving – widespread popular movement pushing them? I must have missed it, if there is…
No, they have not gotten anywhere, but try to stay on point. The author’s point was a claim about their demands, not about how effective they were in achieving them.
great article – I agree completely (after having spent 14 or so years in the US of AIPACs)
Friends,
I wouldn’t be too quick to assume that this Economic mess is just going to collapse on its own accord. Tis’ true that it the US and therefor the global economy is on the verge of implosion, but this is by design as L445 suggests. Here are a few articles to consider before assuming this is not a planned course to a one world government through the demolition of sovereign economies.
k
http://www.alt-market.com/articles/3463-trade-war-provides-perfect-cover-for-the-elitist-engineered-global-reset
https://www.zerohedge.com/news/2017-07-09/economist-get-ready-world-currency-2018
http://www.alt-market.com/articles/3417-how-the-globalism-con-game-leads-to-a-new-world-order
http://www.alt-market.com/articles/2403-the-economic-end-game-explained
(excerpt from last link)
The elites have openly admitted to the public on numerous occasions EXACTLY what they want — namely, the institution of a truly global and centralized economic system revolving around a highly controlled world currency framework and dominated by a select cult of banking oligarchs. Anyone who claims that this is not the goal is either a liar or an uneducated fool.
I have covered the evidence supporting this program many times in the past, but it would seem with the precariously surreal nature of our world today that much needs repeating. In 1988, the financial magazine ‘The Economist’ published an article titled “Get ready for a world currency by 2018,” in which it outlined the framework for a global currency system called the “Phoenix” (a hypothetical title), administered by the International Monetary Fund by the year 2018, which would erase all national economic sovereignty and require governments to borrow from the world central banking authority, rather than print, in order to finance their infrastructure programs. This would mean total control by the IMF over member nations as they beg and plead for more capital under the global currency umbrella.
“All this bombing, chaos and destruction launched upon the world since 2001 had less PNAC, let alone “Israel”, in mind, but increasingly the assurance of further dollar investments in their debt, the most precious “natural resource” to keep the colossus colossal.”
I suspect this misdirection is central to the piece.
Also note that the author does not refer at all to the neoconservative movement. The neoconservatives are normally regarded as central to current US foreign (and domestic) policy. The Project for the New American Century, founded by Bill Kristol and Bob Kagan was the culmination in a series of efforts by the neoconservative movement to encourage an aggressive military posture by the US against countries deemed hostile to Israel. This project was, moreover, regarded as overwhelming successful by the neoconservative movement itself. Omitting this side of the picture will present an incomplete view of the situation.
Nothing can save an empire once the rot sets in.
The process was recognised and recorded by the British soldier
Sir John Bagot Glubb (1897-1987), a highly honored British general and historian better known as Glubb Pasha, wrote about the collapsed empires of the past. In his 1978 book ‘The Fate of Empires’ and the Search for Survival, he described a common pattern fitting the history of some fallen empires. They went through a cycle of stages as they started, expanded, matured, declined and collapsed.
Pasha learned that different empires had similar cultural changes while experiencing a life cycle in a series of stages that could overlap. He generalized about empires having seven stages of development, identifying these successive ages as follows:
1. The age of outburst (or pioneers).
2. The age of conquests.
3. The age of commerce.
4. The age of affluence.
5. The age of intellect.
6. The age of decadence.
7. The age of decline and collapse.
I’d say that the American empire and its vassals were at about stage 6. The notion that a ruling imperial elite can game the system and last forever runs against the whole of historical experience. The British Empire, On which the Sun was never supposed to set, followed the same inexorable logic. How and when the collapse will occur is a matter of conjecture, but the collapse itself – visible on a daily basis – is certain.
One might say that the esteemed author is blaming the dog for having fleas, or the scorpion for it’s sting. The Sea Peoples are in significant faction “pirates”, and they behave like Pirates. The Heartland Peoples and the Pirates are always juxtaposed in their minds and natures and cultures. This is an atavistic inheritance based on geography and breeding and cultures. Of course they also share a great deal of humanity and collegiality with the Heartland Peoples. It is the ruling class of the Pirates who stand to be defeated, and who quiver in fear and lustful greed…as well as who-knows-what sorts of Perversions…
Actually, irrelevant, most pirates have little to do with “sea peoples”, most are “heartland” critters. The Mongols are a very good example. This predatory/parasitical behaviour is not coastal people preying upon inland dwellers, but that of cultural rejects (criminals, essentially), banished to the “badlands”, who raid and conquer littoral peoples. IE: most of these predatory critters we’re not coastal, the opposite, criminal element based societies influenced by poor environment to be predatory, based away from the better littoral lands.
Other options for the Empire:
1. Partner with China and/or Russia. If the terms are right either or both will willingly join the Empire at the expense ofthe rest of the world. China wanted very much to have a bigger say in the Bretton Woods institutions but was rebuffed by the US. A big chunk of Russian is also in favour (the Atlanticists) and will more than gladly join the Empire- with or without Putin.
2. Massive destruction of the global infrastructure and capital to get back to a similar position that the US was in at the end of WW2. We then have a repeat from 1945 onwards.
3. Dismantle the Empire, say sorry to everyone, and work for the betterment of humanity.
Hi,nice article…..maybe helpful to complete the picture about what really happend at Bretton Woods:
…there is a book written in german (“Welt-Macht-Geld” – world-Power-Money by georg Zoche ; don t know if already avaiaable in english) where he states – as a proven fact – that said henry Dexter White did in facct changed the text of the treaty at midnight WITHOUT the consent of the others from “fixed-exchanged-rates to gold” to ” fixed exchange-rates to gold OR the dollar. The next morning they signed the treaty without re-reading it (Unknowingly!) ….and so the tragedy unfolded. Back at home in England John Maynard Keynes was said to be FURIOUS over that cheating – but the damage was already done.I guess it would be helpful to spread that knowledge and it might be even possible to create a valid legal case out of this……am not sure, cause I m not really good with these legal nitty-gritty…..you guys might be more knowledgable of how to incorporate that knowledge for the betterment of mankind.
Best wishes
stefan: sattler
here is a link to an interview where he explains all this in detail….
https://kenfm.de/kenfm-im-gespraech-mit-georg-zoche-die-geschichte-der-leitwaehrung/
…and here is a link to the book:
https://www.amazon.de/WELT-MACHT-GELD-Georg-Zoche/dp/3000487328?SubscriptionId=AKIAILSHYYTFIVPWUY6Q&tag=duckduckgo-ffsb-de-21&linkCode=xm2&camp=2025&creative=165953&creativeASIN=3000487328
Nice rant. Says more about the author than it does about Murka. I hope he feels better.
One that falls flat when it bangs against Jevons’ “Paradox”, Kaczynski”s Thesis ( http://editions-hache.com/essais/pdf/kaczynski2.pdf ) and Hansen’s “Storms of My Grandchildren”. Author’s apriori assumptions are incorrect, as these given factors show quite clearly.
Meantime, what “They” want from Russia was made clear long ago: film: Why We Fight, teil # 10
https://www.youtube.com/watch?v=WrKDBFJoo2w
Their lusts cannot prevail over the physics. (see Jevons and etc).
Ergo they intend a sudden and drastic reduction in demand, eg population reduction by perhaps 90 + %
That was the conclusion reached by Michael Ruppert.
Absolutely agree.
The assesment is as I have always thought.
Its amazing to find people thinking the same way.
The banking and financial system is a global entity and cannot be understood by looking at banks which happen to be in particular countries in isolation. The Bank for International Settlements maintains control of all systemically important banks through the financial stability board. The concept of an “American” bank doesn’t really make sense. Moreover, all the major global banks are heavily intertwined. The US banking system can’t really fail without the failure of the entirety of the global financial system. The collapse of the dollar had been expected during the 2008 banking crisis. It’s instructive to study why this did not happen. The circumstances since 2008 have not fundamentally changed since then.
And exactly where do you think the ‘elite’ will hunker down? NZ, the rain forests of Brazil, Australia, some little island in the Pacific?
Have you ever thought of the consequences, and the logistics, of the elites ‘bugging out’ and ‘going somewhere safe’, assuming they can get there before Götterdämmerung? I’ve heard of ‘vast underground facilities’ in which ‘the elite’ will exist fat, dumb and happy until The World cools from the nuclear disaster ‘they’ are trying to make happen.
Think about that. How much food can they store? Enough for two or three or four decades? Assuming they can store foods for forty years, what about the other little things, you know, garbage, human waste, consumable goods, water, energy, air, and that one all important commodity that the elites cherish so much, someone to take care of them. How many of the elites know which end of a screwdriver is the business end? Who is going to protect them? 99.999 % of them don’t have any concept of how to fight or defend what they have, and trust me, no matter what ‘they’ do to the world, many will survive and with time the ‘many’ will come for the ‘elites’ no matter where they are. It’s human nature and trust me on this one, you will not wipe all the humans from the face of this rock no matter what you do.
Who will defend them? An army of paid mercenaries, living with the elites for years underground or in the wilds? Fat chance that. In weeks, if not days, the defenders will own the elites, lock, stock and barrel. What are you going to pay them? Dollars? Rubles? Lira? Euros? Gold? Do tell, where exactly are these defenders of the elite going to spend what they are paid? Are the elites going to take 20,000 paid soldiers with them? How about their families, their wives and children, their loved ones?
Who is going to keep their support systems running? Never forget, it is not the ‘elites’ who build the systems, it is the conservative red necks who do that work, who design, build and maintain all the systems that the ‘elites’ hold so dear. Are the elites going to take 10,000 conservative red neck cannon fodder with them to safe haven? With their families? If they do, in a week they will have 30,000 mercenaries and conservative red necks as their masters, not their slaves.
Bottom line, the idea of the ‘elites’ running off to safe haven is bovine scatology, and in my humble opinion, the opinion of a conservative red ‘kneck’, this entire long winded article can be summed up in but few words:
“I hate American, I hate Germany, I hate Europe, I hate those who nurtured me, who educated me, who gave, and give, me hot and cold running water, food that is arguably the best in the world, and a safe and peaceful environment to live in.”
You’ve got a lot to learn, young Master Sergio. I hope you live long enough to learn it…before Götterdämmerung.
Auslander
Author and Conservative Red Neck
Never The Last One https://www.amazon.com/dp/B00ZGCY8KK A deep look in to Russia, her culture and her Armed Forces, in essence a look at the emergence of Russian Federation.
An Incident On Simonka https://www.amazon.com/dp/B01ERKH3IU NATO Is Invited To Leave Sevastopol, One Way Or The Other.
I agree. Auslander’s view and mine coincide. It is however possibly also true that simply because a thing is idiotic (the bug out plans and mercs and so on) does not mean that these types, these rich people or “elites’, do not believe that it is a realistic plan set. People believe what they wish, as Caesar observed, they say.
In other words, realists or idiots, they may believe their own b/s. Believing your own b/s presages death, or at least defeat. Look, see, tell (yourself) the truth, then if right and good, take appropriate action. Honest situational analysis and awareness. This the idiot by definition lacks. But that does not mean they won’t try it. Quite the other way, as it is probably they only path that they can see…
Those whom the gods would destroy…and all that stuff…
This article by Sergio W. was excellent! No qustion about the importance of the dollar (as reserve currency) to keep the empire going on. As long as this (the dollar) keep its place the US can keep having deficits instead of increasing debt. Honestly I did not understand Auslanders following comment on the article: “I hate American, I hate Germany, I hate Europe, I hate those who nurtured me, who educated me, who gave, and give, me hot and cold running water, food that is arguably the best in the world, and a safe and peaceful environment to live in.”
You’ve got a lot to learn, young Master Sergio. I hope you live long enough to learn it…before Götterdämmerung” The fact that you are critic to somebody, something does not mean that you hate it. Or did I miss something?
Absolutely agree with the article that one of the main aspects of the Anglo-(Western)-Zionist alliance is the economic monetary system….actually it is the heart of the alliance and the evil in this world.
The Americans took over from Europe the usurious corrupt economic monetary system and further developed it to catastrophic levels.
However, what needs to be mentioned and assessed is how usury was made forbidden by Jews, Christians and Muslims ever since its practice from early human history (Roman times and even before). How Christian Europe and the Jews in Europe allowed usury and developed the usurious corrupt economic monetary system. How it has corrupted mankind and replaced honest business and trade based on currency/money that has intrinsic value, replacing it with fiat money and debt creation.
You cannot just jump into this problem from the American revolution (1765-present), WWII or from the Bretton-Woods (1944-present).
In order to understand the global catastrophe we are now living in, you have to go back to the basics and fundamentals of what was money and what has become money. You have to do this in order to comprehend that once money is lent on interest/usury you automatically corrupt the trade, business and the economy.
You have to understand that once money is lent on interest, what automatically follows is increased debt and false money creation.
If you cannot comprehend that lending money on interest is not the same as doing fair business and trade, then you automatically allow for the rich to become richer and the poor to become poorer.
When you allow lending money on interest, you substantially decrease the possibility of sharing the burden and sharing risk in starting a business, buying products, or conducting trade. You dupe people in making them believe that they can obtain things that they cannot actually afford as long as they pay you even more money just because you have money in the first place.
You cancel out burden sharing, you cancel out charity, you encourage inequality, you corrupt the money, the economy and the entire society.
How can you call anything a business when you are 100% guaranteed a profit ? ….where is the risk of losing ?….there is no risk !! This is not a fair business or trade.
Usury (interest) that is the cause of increased debt and the cause of false money creation is a global cancer !
Actually, allowing usury by the Christian world is one of the biggest disasters in the history of Christianity and the world at large.
Money with intrinsic value was first lent on interest.
Once they became richer they replaced gold/silver with bank notes.
Then they started lending bank notes that they created out of thin air without even having reserves.
So they were making a profit out of something that didn’t even exist.
People were paying extra money for money that did not exist in the first place…..and this practice continues until this day.
Without interest/usury these bankers would never have been able to make money in the first place. Instead they would have to do business and actually invest and work hard or take risks.
But now they can just make guaranteed profits, and even better is that now they can just add electronic money that they do not even have in the first place and lend it on interest to make money out of blood of sweat of the masses.
Two things need to be done:
– Money must become again currency with intrinsic value (silver, gold, etc.), as was before in history.
– Lending money on interest should be made illegal and criminalized, as was before in history.
…….this will lead to money not losing its value over time.
…….the principle of lending money will be to help others instead of making money off of them.
…….this will lead to less people lending money to others since they will not profit from lending money in the first place, and more people will only live within their means.
…….this will lead to more people to share in risk (losses and profit) when doing business. The richer person will actually have a risk of losing his money.
…….Less lending will encourage fair business and trade with sharing risks and joint venturing.
@ Harry_Red
the day I came across this quote by Col. House from his book PHILIP DRU: ADMINISTRATOR: A STORY OF TOMORROW 1920-1935 was the day everything about money, banking and government changed for me:
“[Very] soon, every American will be required to register their biological property in a National system designed to keep track of the people and that will operate under the ancient system of pledging.
By such methodology, we can compel people to submit to our agenda, which will affect our security as a chargeback for our fiat paper currency. Every American will be forced to register or suffer not being able to work and earn a living.
They will be our chattel, and we will hold the security interest over them forever, by operation of the law merchant under the scheme of secured transactions. Americans, by unknowingly or unwittingly delivering the bills of lading to us will be rendered bankrupt and insolvent, forever to remain economic slaves through taxation, secured by their pledges.
They will be stripped of their rights and given a commercial value designed to make us a profit and they will be none the wiser, for not one man in a million could ever figure our plans and, if by accident one or two would figure it out, we have in our arsenal plausible deniability.
After all, this is the only logical way to fund government, by floating liens and debt to the registrants in the form of benefits and privileges. This will inevitably reap to us huge profits beyond our wildest expectations and leave every American a contributor to this fraud which we will call “Social Insurance.”
Without realizing it, every American will insure us for any loss we may incur and in this manner; every American will unknowingly be our servant, however begrudgingly. The people will become helpless and without any hope for their redemption and, we will employ the high office of the President of our dummy corporation to foment this plot against America.”
and don’t you know I have in my possession my original assigned birth certificate {47 year old card} and in very small letters it has imprinted CANADIAN BANK NOTE on the bottom of the card.
what gets me really fired up however is the uncanny way in which the second paragraph of his quote it’s as if one is reading verbatim from the book of Rev. 13 and why our birth certificates are a bank note.
Consider:
“He also forced everyone, small and great, rich and poor, free and slave, to receive a mark on his right hand or on his forehead, so that no one could buy or sell…
{‘FORCED TO REGISTER OR SUFFER NOT BEING ABLE TO WORK AND EARN A LIVING.’ Col. House}
unless he had the mark, which is the number of his name.” {Rev. 13:16}
Wow, and doesn’t this raise the question if this Col. House and his enablers had access to computer tech in the 1920’s would they have required under law that everyone would have to have RFID chips implanted in either our hand or forehead which is their ultimate goal isn’t it?
Catherine Austin Fitts speaks about this and calls what they are trying to do as Livestock Management.
another good source of info is the youtube video by Aaron Russo who in an interview with Rockerfeller said this is the goal to get everyone chipped.
I guess there is a great deal of truth in the words ‘look up for your redemption draws near.’
@Milan,
The Canadian Bank Note text on your birth-certificate is very strange indeed ! …..Is it an issue of being printed at a certain company (bank not company / federal reserve type of company) or are you actually worth some dollar debt or money ?
As we say in Islam:
But they plan, and Allah plans. And Allah is the best of planners.
If the All mighty wants to destroy their system using their own corruption or an external force, then no one can stop this destruction from happening, regardless of whatever they plan.
@ Harry_Red
It’s a birth certificate issued by the Government of Canada through the Province of Ontario proving ones nationality. That a government institution would actually imprint this on the bottom of the card is astounding and new cards do not have this for whatever reason?
Applied worth is irrelevant as that naturally comes or arrives from/with employment. The key is how the citizens of a country have been pledged as collateral for a nations debt.
One can almost look at it this way. Christ died to free us from the slavery and bondage to sin and yet here is a banking cartel {Satan’s minions} returning us into bondage of a different sort albeit with the promise of sustenance. Social Security as they call it. They work under a delusion thinking that they have the cure for humankinds problems and that is financial control ultimately which will they think end in behavioral modification of sorts. The end of wars and such? Rockerfeller in fact said as much:
“We are grateful to the Washington Post, the New York Times, Time Magazine and other great publications whose directors have attended our meetings and respected their promises of discretion for almost forty years……It would have been impossible for us to develop our plan for the world if we had been subjected to the lights of publicity during those years. But, the world is more sophisticated and prepared to march towards a world government which will never again know war, but only peace and prosperity for the whole of humanity. The supernational sovereignty of an intellectual elite and world bankers is surely preferable to the national autodetermination practiced in past centuries. It is also our duty to inform the press of our convictions as to the historic future of the country.” David Rockefeller
Catherine Austin Fitts sums it up too as being chipped and mind-controlled. There is a crsis of values coming in which those in the establishment/leadership simply can’t conceive of a way to share civilization with the general population. Their way of dealing with it then amounts to ‘livestock management.’ What a great term because this is it exactly. They are looking to manage humanity as if we were live stock going so far as to mind control us. She goes on to say that is why their answer is to chip all of us. Not to be missed this interview!!!
It is Dostoevsky who as usual said it best
“Why hast though come to hinder us?…We are working not with Thee but with him {Satan}…We took from him what Thou didst reject with scorn, the last gift he offered Thee, showing you all the kingdoms of the earth. We took from him Rome and the sword of Caesar, and proclaimed ourselves sole rulers of the earth…We shall triumph and shall be Caesar’s, and then we shall plan the universal happiness of man… Hadst though accepted the last counsel of the mighty spirit {Satan}, Thou wouldst have accomplished all that man seeks on earth -that is, someone to worship…Who can rule men if not he who holds their conscience and their bread in their hands?”
I’m afraid this ‘holding their conscience and bread in their hand’ will come through technology the RFID chip or some modification thereof and O if only Dostoevsky had such knowledge what he could have written to warn the world of such impending disaster. It is also why by the way God will forever punish anyone who partakes of such an evil and corrupt system.
Your sovereignty as an individual is being taken away and what you want it that way for little more than a morsel of bread and meat? Instead of submitting to your Creator {Christ Jesus} you submit rather to some Robinhood? The devil in sheepsclothing! This is essentially what the 666 of Revelation 13 is all about.
To my mind, the words “Canadian Bank Note” that appear on your original birth certificate need not mean more than that it was printed by the same entity, and to the same standard, as the Canadian paper currency of the time.
It would be interesting to know if they ceased appearing when the various original BNA Acts that created Canada were superseded by the Canada Act of 1982 that made it independent of Britain.
The rest of your post stands. Whatever the reason behind the appearance/disappearance of those words, the people are viewed as livestock. In these times, as the elites’ program has bogged down in resource depletion and demographic downturn, they’re taking corrective action. They need Russia’s geo-resources, and China’s “livestock” to keep up appearances, but these have been taken off the table by competing elites. Hence the panic.
@Erebus
Yes, I’ve wondered about that to why it ceased appearing. In any case that it would even appear raises questions and suspicions on my part and others. To many curious oddities.
By the way here’s some interesting info also about our move towards socialism and this talk about a “universal basic income.”
“Polls suggest that the majority of millennials (people born between 1982 and 2004) now favor socialism. And a growing number favor outright communism—if it’s implemented “correctly.”
By next year, millennials are expected to surpass baby boomers as the nation’s largest living adult generation. This is one of the reasons Bernie Sanders and other socialist politicians are growing in popularity.
The Chair of the Democratic Party recently declared a young millennial socialist who won a New York City primary “the future of our party.”
On top of that, Sanders and his fellow socialists are offering a dangerous gimmick. It’s something called a “universal basic income.”
It’s where the government gives you money… just because. There’s no requirement to work or even display a willingness to work. You could sit at home all day, watch TV, and still get a check from the government.
Remember: Even people living under communist regimes have to work. But with a universal basic income, the government simply hands out “free” money to everyone for doing absolutely nothing.
All of this points to an increasingly radical political environment that will have serious financial consequences. And I believe I know the cause…”
and its all because of inflation and as the author notes:
“Measured in gold, wages in the U.S. have fallen over 94% since 1971. That’s an astounding drop.”
One just has to see the graphs its incredible. https://www.caseyresearch.com/how-inflation-destroys-civilization/
For me however, all of this just reinforces a belief that Mr. Global as Catherine likes to call him will do the unthinkable by pulling off one of the greatest robinhood moments in history. A true socialism or communism on a global scale will mean some type of wealth redistributation and with that you being chipped accordingly. May sound farfetched but hey were dealing with bankers.
@ Harry_Red:
“The Americans took over from Europe the usurious corrupt economic monetary system and further developed it to catastrophic levels.”
Why always blame the Americans? The Americans are not the instigators of the usury money system that plague and enslave the word, they are the victims of it, as much as we all are. They fought for independence from the bank, but finally the creature of Jekyl Island prevailed. Yuri Slekine called the 20th century “The Jewish Century”. This is probably the century where the the Jewish agenda made the biggest qualitative jump, to come closer to their end goal.
Do the Americans own an empire? No, they just “borrowed” it against interest from their Jewish masters, and they run it on their behalf to fulfill their messianic project of world domination. This was promised to them by Yahweh, their tribal and polytheist God, since jealous of other gods. The world has been fooled into believing that Yahweh is the universal and unique God of all mankind, who cannot help, however, having a soft spot for his chosen people.
If you read the Protocols, you will realize that the secret police of the Tsar had real biblical prophets on its payroll, who could 115 years in advance, for instance, foresee the deleterious developments of the liberal ideology.
See in protocol 10:
“When we introduced into the State organism the poison of Liberalism its whole political complexion underwent a change. States have been seized with a mortal illness – blood poisoning. All that remains is to await the end of their death agony.”
Ezechiel couldn’t have said it better in 1903. For the rest of the book, I find it extremely difficult to find something that hasn’t been fulfilled yet. As Gilad Atzmon already said, they are now obsolete. The Pax Judaica, as seen by Imran Hossein to follow Pax Americana, is already here.
“Collapse, civil war, disintegration seem to be ahead for the US”….. “it will at first turn out to be extremely ugly”.
Sergio, you have said it all, right there. I am a Canadian, almost 90, who had a very wise old lady social studies high school teacher during WWll, who taught us – above all – to be aware of World Affairs.
If Franklin hadn’t struck out “property” from Jefferson’s draft of the Declaration of Independence, and inserted instead, “the pursuit of happiness”; the nation would have begun its declared existence with “life, liberty, and property,” as its people’s God-given and inalienable rights–rights that were, well, “inalienable,” and beyond the reach of government, except to protect them. But, as Mr. Weigel points out the Declaration was an aspirational document, only. The US Constitution contains the phrase, “life, liberty, and property,” twice; as well as, “impairing the obligation of contracts.”
Bruce Tyler Wick
Please show me a reliable source for this ‘struck out “property”‘ information. I find it interesting.
Auslander
Aus,
Here’s one, but there are many others.
https://historynewsnetwork.org/article/46460
I am neither advocating this website nor championing the author; I am merely providing one reference.
The great power, and the great weakness of U.S. now is its currency being used as world dominant reserve currency, dominant petro currency.
While U.S. real economic output is still huge, it is nowhere enough to sustain its expenses, thus the annual deficits. This has gone on for 3 decades, accelerating each year. The banksters use the above power of the dollar to finance the deficits, give the appearance of wealth, growth, all seems well. The more they do this, the more they convert the country dollar strength to the weakness side. Today, they can’t get out of this debt trap – it has become structural, impossible to reverse politically. They have tried a few times the past 2 decades to ‘fix’ it – the results being the cycles of bubbles. These bubbles have fixed nothing so they stopped. The next trick from Trump – trade war. Will it fix America’s annual trillion dollar debt trap? We shall see by 2020.
America’s debt trap exists because the debt is in its own currency. If its debts are in foreign currencies the immense pressure of payments with real wealth will quickly discipline and fix it. This is why no other country has debt trap.
Trump’s trade war will reduce imports & exports, increase price of remaining
imports. Add these up and U.S. inflation will kick up across the board. Everything produced locally and imported will rise in price. Will wages rise even more to compensate? It won’t because this is American capitalism at work. Wages always at the lowest can be, else layoff. The only thing matter is business profit.
Trade war, like bubbles of the past, cannot fix fundamental issues of productivity, innovation, real wealth creation, sound financial practices and vast loss of wealth due to failed wars. It does not fix debt trap by one dime.
What if trade war can’t fix the debt trap by 2020. The annual deficits, trade deficits continue, on and on? Well then why would foreign countries continue to use the dollar as reserve? One day another economy will perform better, be bigger, gain worldwide credibility and trust. It’s currency will automatically be the new reserve currency.
It happened many times before. The last time propelled the Greenback to global reserve status replacing the Pound Stirling. The British empire was based on colonial profits, but later based on the Pound Stirling reserve status as colonial profit disappear. No reserve, empire died. Enough said.
In the sense that, for the world’s reserve currency issuer, the debt is notional there is no real debt trap. An issuer’s “debt” need never be paid back except in notional terms. The UST can “pay it off tomorrow” by writing a cheque, but that wouldn’t change anything. This is a critical point, and understanding it is likewise critical to understanding what’s happening now.
The UST doesn’t “pay off its debt” for obvious reasons. Namely, doing so would bring the USD’s reserve status to an abrupt, screeching halt, and with that American Hegemony. It would also, at least temporarily, bring much of world trade to a similar screeching halt until another mechanism could be activated to serve the USD’s current international financial and commercial functions. Not to mention the devastating effect it would have domestically.
Mechanism’s are being put in place, of course, in anticipation of the USD’s withdrawal from world trade (EG: currency swaps). Trump’s “trade war” with the rest of the world is precisely the kind of strategy one would use to facilitate both the US’ and the USD’s withdrawal from world trade and to allow its reserve currency status to make a softer landing than otherwise.
All debt can be a trap, reserve or otherwise. US dollar is a major, but not the only reserve currency. Countries hold significant amount of Euro, Yen, even Canadian dollar as reserve too. The last one, while small in volume, is de facto backed by oil and gold!
The dollar have trapped the federal budget of its issuer into permanent deficit, ever larger national debt. It does not have to be this way but policies of the past 2 decades made it so. Theoretically the Fed can issue an infinite amount to finance it, even pay it off. Practically it cannot, and therefore there is a limit. That limit has been reached. This is why Fed interest rates must go up and up. This is why it refuses to buy anymore Treasuries. And this is why this Trump guy have to start a trade war to try to reduce trade deficits, which is a direct consequence of an unsustainable budget deficit.
In short, the U.S. is now in a debt trap of its own creation.
Currency swaps and alternative non-dollar settlement banks have been created, put into operations. One day non-dollar trade will take over 3/4 of all trade due mainly to the rise of China As this happen, dollar use as reserve will decline to 1/4 of total. The American dollar empire will finish. It is, however, this very end of the dollar empire that will force the country to finally save itself buy doing the right things. Very difficult things. Not the nonsense it has been, and currently practicing.
I am sure this event, end of the American empire, will happen. This is why I am called Fourth Turning.
Frankly, your point regarding the US’ “debt trap” escapes my understanding.
The USD’s reserve currency status was gained and maintained by political/military, as much as economic/financial means. IOW, the “debt” is as much political as it is financial.
An Admiral commanding the USN’s 7th Fleet summed it up wonderfully (from memory):
The Asians work hard to send us all these wonderful products, and we send them worthless bits of green paper in exchange. The 7th Fleet balances the books.”
The US’ financial “debt” can be “paid” at any time. It’s notional, so almost by definition cannot be a problem. It’s like the tokens/skrips that were used in medieval fairs. The market organizers issued a fiat “medium of exchange” through which the myriads of various coins and real goods (collectively, “value”) could move between buyer & seller during the fair. When it was over, the market skrip was extinguished to be brought back to life at the next fair. This allowed the fair’s market to function efficiently. You can see vestiges of that system in amusement parks today when you buy a roll of tickets to be “spent” on rides, ice cream, or whatever within the park. Writ large, that’s what the USD does in international trade.
Market participants had to trust the organizers to refrain from abusing their own system, and some fairs ran literally for centuries while markets run by abusers were shunned, putting them out of business. What the world is realizing is that the political underpinnings of America’s “debt” have been abused. The US Treasury has weaponized the dollar, and abrogated its promise to pay by (EG) disallowing the purchase of arbitrarily “critical” assets by foreigners. While the vassals quietly put their heads down and suffered what they must, sovereigns such as China & Russia have said “Enough.”. Therein lies the rub.
As it happens, Zerohedge has an article up that addresses what it means to be a reserve currency, and presents an interesting look forward into the (near?) future of currencies as the current reserve system falters. It’s worth a read.
https://www.zerohedge.com/news/2018-08-03/goldyuancrypto
Re: “The Asians work hard to send us all these wonderful products, and we send them worthless bits of green paper in exchange. The 7th Fleet balances the books.”
Typical misunderstanding. However out of the goodness of my heart, I will gladly receive all the worthless bits of US green paper anyone cares to send me. Like the Asians, I can buy things with them, and not just from Asians, but from just about any merchant on earth. I can also buy stocks and bonds, including US treasuries, and even US and foreign real estate. So please, send me all your “worthless bits of green paper.”
Alas. It appears you’ve misunderstood the Admiral’s point.
You, yourself accept those “worthless bits of paper” largely because of the 7th fleet’s balancing of the books.
If the 7th fleet (or any of them, really) be rendered impotent, or be seen to be so rendered, both you and the Asian’s would lose interest in those bits of paper faster than you can say “Hyperinflation”.
Today the Dollar global empire exists albeit degraded. Dollar is still ‘king’ around the world, among almost peer the Euro. But ask yourself simply: with such a hegemonic status why is the U.S. domestic situation in such bad shape, so much stress, unemployment, homelessness. And why voters even elected this dotard Trump, knowing he has no experience, will break things. Surely if the country debt and deficits are ‘nil’ because it can always issue more to pay, there is nothing to worry right? Surely it can issue a few trillions to invest in fixing and
building its dilapidated infrastructure? But none issued. Why has Trump started such a big trade war, even on traditional allies? To what gain? Of course the country is in economic crisis – clearly for all to see. But why can’t it simply issue money to save itself? Actually it has issued about $10 trillion the past decade trying to save itself. It just dig the debt hole deeper, got trapped even more.
I doubt that anybody but us is reading this, but “… why can’t (the US) simply issue money to save itself?” is a good question. Unlike China, which effectively does just that through its state owned banks and SOEs, the US handed the issuance power to an independent agent, who is in turn governed by an independent entity known as the BIS.
There is no mechanism for the Fed Gov to just issue currency, as there’d be no-one to buy the bonds that back it except the Fed. If they refuse, what then?
What I think may well happen is that a parallel, domestic-only dollar may appear that solves the problem. The US, of course ran a 2-currencies regime in the past – one for domestic use, and one for international.
I still recommend everyone to read what Walter Scheidel is thinking of our future. It’s so devastating message that it make me sleep so well at night.
” The Only Thing, Historically, That’s Curbed Inequality: Catastrophe
Plagues, revolutions, massive wars, collapsed states—these are what reliably reduce economic disparities. ”
https://www.theatlantic.com/business/archive/2017/02/scheidel-great-leveler-inequality-violence/517164/
I think his main point is here:
“Technology has made mass warfare obsolete; violent, redistributive revolution has lost its appeal; most states are more resilient than they used to be; and advances in genetics will help humanity ward off novel germs.”
Because these new powerful hampers are eliminating traditional catastrophes and in that way open gate for equality we are now doomed for long period growing inequality system. And that’s why nations desperately need what ever substitutes or surrogates, ever most vulgar and grotesque to keep people in control and somehow “happy”. The meaning for life is now more than ever before just entertainment and “having fun”.