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A lot of overt injustice and criminality is apparent in the western world recently, and notably more so than before 2020, I'll add. I think everybody notices. People have noticed this trend for even longer, I think, but could lay blame somewhere, like "Trump" and keep on going. That hasn't slowed down. We are as politically polarized as I have ever seen. The shortages everywhere make everybody possessive and defensive. This explains so much unfairness and cost-shifting and blame-shifting onto other people or groups. Still, the corrupt economic system, increasingly unreliable, is still a system. It seems inevitable that the western financial system will overtly break in the way that the USSR broke and that China had The Cultural Revolution to place blame when its economy could no longer reliably meet basic needs. Cambodia caught that Chinese disease, too.
The western financial system has to break sometime, because it is based on growth of energy and resource depleting economy, with production of pollution, on a finite planet, but it is breaking now because growth went negative a few years ago despite every trick that could be played.
The name of the new game is "excuses to wield absolute power". We got "Pandemic", which played out. "War in Ukraine" has played out in the US, but it still seems to work on a lot of Europeans in the summer. Many will die miserably this winter unless the narrative changes soon. The US is trying "War against China" out, which should be versatile and durable, and should work for Chinese elites, too, as long as it doesn't get too realistic, but it has to be "realistic".
Surplus Energy Economics looks at our current economic cusp between managing by scrimping and borrowing to homelessness because you can't keep up payments on anything. This has been a very long time coming.
Most of the west had peak prosperity in real economic terms around Y2k, whereas globally (China) it peaked just before COVID, but it's in terminal decline because it costs so much to get energy and raw materials that wages have to be cut (factories offshored) which hollows out markets (workers buy stuff), and credit extension with falling interest rates has limits, which have been reached. All of the misrepresentations of real economy, like trading GNP (industrial output) for GDP (industrial output and lending transactions) is one of those. Lending money is as productive as making the car it buys.
The way that this plays out is that GDP probably overstates real economy by something like 40%. Debt, the promise of future goods and services is 250% of GDP, or roughly 4 times GDP. Debt plus financial services together are 8 to 9 times real economy.
This economy is an energy-expending system in a context of declining net energy, so the vast borrowing to live today can't be repaid with surplus tomorrow.
I'll continue this reasoning where it leads in the current global economic context, with a new economic bloc forming outside of western finance.
if financial and debt markets collapse, then notional wealth collapses to something like 12%, to real wealth. That 12% still requires a working economy, which just stopped existing,. When Chinese economy and the USSR were failing there was a parallel economic system somewhere that could patch-in. That's what western financial economy was for both China (got the better deal from Nixon & Kissinger) and Russia/USSR.
In our current setting the alternate global trade and finance regime is being laid out, and it's mechanisms agreed in treaties and meetings. The driving force to it will not merely be cutting out the skim of western finance, but the opportunity to default upon $US denominated debt, essentially all foreign debt. That is the payoff to take that big of a risk. That is also the death knell of the western financial system, when it happens. However, it will be a parallel financial and trade system that the west can then join.
That would be a rough transition, as China and Russia both had. However, the mitigation for the real economy would be that something like 3/4 of western debt is payable by the west to western financial interests, which are the interests of the top 1% for the most part. The key imperative would be to keep real economy from completely collapsing, to keep production from stopping, to keep factories and farms and cities operational.so that there could be a transition.
We can reason that financial elites (aka "rich people") want to prevent any such contingency plan from ever being formulated. Again and again it is pointed out that retirement plans would go bankrupt if the system were not supported, and that excuse has shoehorned-in vast wealth transfers to the most wealthy, both in 2009, and just recently. I see only the most wealthy having good contingency plans. I've got a vegetable garden, but I'll starve and bake or freeze without city utilities. Having guns won't even help. I've got no idea how this will really play out, but we seem to be in the lead-in to it.
What economics might be constructed after the $US system goes the way of the Confederate dollar? Losers always get predated upon by winners, and that gets really creative and vicious. Stories abound. Potatoes in the ground don't get stolen, but grain often does. You might get evicted, and lose access to those potatoes. What gives any of us "property rights"? I think I'd rather be in Yoakum than Chicago, but lots of small towns just stop existing during famines and upheavals.
Catherine Austin Fitts has an excellent research piece about a topic she has long been researching, the "missing $21 trillion". It's not just that the Pentagon lost a lot of money by bad bookkeeping as Donald Rumsfeld announced 9/10/01, the day before the Office of Naval Intelligence, where the books were being audited, got taken out by a freak terrorist attack that took out that team exclusively. The money also slipped away through HUD, which had a massive loan program, more loans than the total mortgage loans in the US, in fact. In 1994, the US Federal Reserve banking system (owned by big banks) bought stock in the (sovereign, it turns out) Bank for International Settlements BIS), which can't be audited, and which has opaque means to transfer wealth and assets.
The thought came to me that the elimination of the entire $US financial system would never answer these questions, but would make them moot.
After 21 years of watching $21+ trillion go missing from U.S. federal accounts at HUD and the Department of Defense (DOD), I am often asked,
“Where did the money go and how do we get it back?” https://planetequity2022.solari.com/introduction/
Pepe Escobar has tales of ancient Samarkand, and perspective on humans and economics through the ages (lots of killing). Deals for the future are being made.
Samarkand at the crossroads: from Timur to the BRI and SCO
BATTLE FOR THE LARGEST NUCLEAR POWER PLANT IN EUROPE
I saw a rumor that the Russians had erected power transmission infrastructure to reroute the electricity to Crimea, so the Kiev government could no longer sell it on to European buyers, before these attacks began.
Tulsi Gabbard, Friday night, filling in for Tucker Carlson ("Joe Biden" means "the O-Biden Administration")
“Europe is in a massive energy crisis right now,” she stated, citing record power prices in France, public lighting cutbacks and impending heating shortages in Germany, and restrictions on home and business energy usage in the UK and Spain
“Why is all this happening?” she continued, before answering: “Because of Joe Biden’s sanctions, which are nothing short of a modern day siege. This is a supply problem that Joe Biden created, one that Russia is now profiting from.”
“It’s not about the people of Ukraine or ‘protecting democracy’,” she declared. “This is about regime change in Russia and exploiting this war to strengthen NATO and feed the military-industrial complex.”
“To Joe Biden, it’s even about bringing about a new world order. ‘We’ve got to lead it,’ he says, and he’s trying to do just that, even if it means bringing us to the brink of nuclear catastrophe.”
Steve Kirsch (Don't look if you don't want to know.)
A doctor friend of mine in Canada heard about 15 deaths of Canadian doctors over the last 9 months. He’s been in practice for 30 years. He’s never heard of any such unusual deaths before of doctors. Zero in 30 years. Why is he now, all of a sudden, hearing of so many deaths, and why are these deaths all happening very soon after vaccination?
From July 13 to July 28, 7 doctors died… an average of one doctor every other day for 2 weeks straight. And the causes of death were statistically unusual: two died swimming (which is very rare), one died in her sleep (very rare), etc.
The fact checkers assure us all that all of these doctors died for other reasons; the fact that they all died right after the vaccine was simply bad luck. That’s not the right metric. The fact checkers need to tell us the last time this happened where 7 doctors died in 14 days from unusual causes. They cannot. This is unprecedented.
Bombshell Study: Vaccinated 5X More Contagious Than the Unvaccinated 10 Days After SARS-CoV-2 Infection
Dr. Jessica Rose: Is the spike protein acting as a prion with regard to hemoglobin molecules? And is porphyria being induced?
This is a long article. And it’s very important.
A Midwestern Doctor: Did the CDC just end COVID-19? (I think the word was getting out that the shots don't work and they kill people, so it's a useless crisis.)
You heard it from me, though... Pierre Kory MD : The Miracle Not-Heard Around The World: The Success of Uttar Pradesh - Part 2
The north Indian state of 231 million people eradicated COVID with an ivermectin treatment program, representing one of the greatest public health achievements in history. It was kept a global secret.
Avoiding Pitfalls (picture of Jenny in the new kitchen)