Sunday, August 9, 2026

The Globalists Ideology Must Be Vanquished

    We have learned the hard way that Ideologies are dangerous, not because of what they say but because of what they do. The 20th century was plagued with Communism, Socialism and Fascism which themselves followed tightly on the steps of earlier Imperialism. 

   When ideologies fail which they always do, it is never because their principles are fallible and always because they couldn't do enough of what didn't work and recalcitrant people resisted the new world being born and had therefore either to be eliminated or "reformatted". 

   Globalism is no different. It transcends countries where you have to deal with the pesky problem of "elections" with transnational organisms like the E.U. (European Union) or the W.H.O. (World Health Organization) where you do not have to answer to anybody and can therefore apply your program more boldly without interference. How convenient, especially when you know what is right.    

   Because of course these people "know" what is right for you which often tends to be very different that what is right for them which is self-explanatory since we're not made of the same substance... 

    Enough said? New garbs, same old soul. The old Imperialists reborn under a new name as described below. The problem is not that their bad ideas will fail again, as they unavoidably will, but the damage they will inflict on society in the process of applying them as we are currently witnessing in Europe.    

 by J.B. Shurk via American Thinker,

Today’s internationalists were yesterday’s imperialists...

Some politically charged words become part of our common vocabulary almost overnight.  “Globalism” is a timely example.  Ten or fifteen years ago, calling someone a “globalist” didn’t have much effect.  Today, it is well understood as a pejorative that highlights someone’s allegiance to international institutions over those created within a nation state.

Although the term has been used in various academic circles for more than a century, it didn’t become part of our common political parlance until anti-Establishment conservatives in the United States and Europe found it a useful taxonomic description of their ideological opponents.  In hindsight, it is surprising how long the word “globalism” remained dormant and hidden away in the context of political speech and debate.

During the Cold War, however, the world was divided between the Soviet Union and the United States, between communism and freedom, between closed economies and open markets.  To the extent that nationalism and globalism were distinguished from each other, academics and political leaders did so under the umbrella of the Cold War contest between East and West to gobble up as many nation states as possible.  Both sides embraced a “domino theory” of geopolitics in which partisans fought for global domination, one nation at a time.

There was, however, an intentional, albeit rarely described, linguistic shift from the 1950s forward.  In newspapers and scholarly essays of the nineteenth and early-twentieth centuries, “nationalism” and “patriotism” were largely used interchangeably.  Following WWII, “nationalism” increasingly acquired a negative connotation until eventually becoming a proxy word for “fascism” or “Nazism.”  In our current age, prominent political and academic leaders speak of “nationalism” as if it were a virulent form of racism, imperialism, and authoritarianism rolled into one malevolent philosophy.  In contrast, until rather recently, “patriotism” retained a positive meaning, even though its Greek roots describe a person’s connection to “fellow countrymen” and the “fatherland.”  If only one of these two words — “nationalism” or “patriotism” — were to survive WWII unchanged, a reasonable person might have wagered that “nationalism” seemed more innocuous and less “problematic” for contemporary sensibilities and therefore more likely to endure with its politically neutral meaning intact.  “Patriotism,” on the other hand, with its emotional appeal to the “fatherland,” might have appeared more objectionable.  Instead, “nationalism” was eventually demonized for its semantic connection to the “national socialism” of the Nazi Party, while “patriotism” was embraced as an essential quality for Western citizens fighting the Soviet Union’s communist expansion during the Cold War.  This was not a historical accident.

After WWII, there was a concerted effort among political and intellectual leaders in the West to use the destruction from two catastrophic global wars as a profound moral argument for charting a new course for humanity.  Framing the carnage of those wars as the natural result of unbridled “nationalism,” architects of the post-war world put their faith in international institutions.  The United Nations, the North Atlantic Treaty Organization, and the European Union all emerged immediately after WWII but so did a thousand new international bodies constructed to do everything from standardizing industrial production in factories around the world to regulating the movement of people and goods across borders.  “Internationalism” was sold as an antidote to war and therefore became almost synonymous with “peace.”  The dichotomy between “nationalism” and “internationalism” was much easier to advance publicly than a contrast between patriotic love of country and an unpatriotic hatred for one’s countrymen.  The United Nations decided that patriots could be internationalists.  Nobody asked out loud whether internationalists could be patriots.

This paradigm has remained attractive for its simplicity but never made much sense.

For starters, German Nazism, Italian fascism, and Japanese imperialism (in which an absolute monarch was worshipped as a deity) were not inherently dangerous because their proponents organized power through national governments.  They were dangerous because they were totalitarian in nature and compelled citizens to sacrifice themselves completely in the interest of the State.  Had the Germans, Italians, and Japanese strongly believed in limiting government power and maximizing personal freedom, respect for individual rights would have kept expansive authoritarianism in check.

It is illogical to assume that international forms of government are somehow more humanitarian or philanthropic than national forms, just as it is illogical to assume that national forms of government are more just and capable of representing citizens than local municipal governments.  One might ask what the difference is between the Green Party in Germany demanding total civilian obedience to “global warming” mandates and a group of international ambassadors demanding the same thing through the Paris Climate Accords.  Are the United Nations Framework Convention on Climate Change and the Intergovernmental Panel on Climate Change somehow less totalitarian because international bureaucrats are regulating the behavior of both Germans and non-Germans alike?

Would we not describe the great empires of the past as “globalist” or “international” in nature?  Did Alexander the Great, Julius Caesar, Napoleon Bonaparte, or Cecil Rhodes not swallow up entire nations when they expanded the territorial dominions of their respective empires?  How does one distinguish those global empires from modern equivalents such as the European Union or the United Nations?  Surely the average European, Asian, or African finds it just as difficult to object to an edict coming from the E.U. or U.N. as it would have been for Europeans, Asians, or Africans of the past to resist imperial edicts from faraway capitals.  Had Alexander, Caesar, Napoleon, or Queen Victoria described their empires as “united nations,” would their conquests have been considered more just and peaceful?

In other words, have we not simply rebranded imperialism as “internationalism” and pretended that the rhetorical distinction represents “progress”?

This brings us to the current day, when we are finally having a meaningful debate regarding the merits of “nationalism” versus “globalism.”  As has become all too evident in recent years, globalists really do wish to dispense with the nation state.  But they are not content with merely replacing national governments with international institutions.  Decades of open borders policies in North America and Europe reveal globalism’s true goal: to eradicate the vestiges of culture and history that bind a nation’s people together.  In the United States, it is quite common to see immigrants flying their “home” flags in sports stadiums, while mainstream news pundits describe the American flag as a form of “white supremacy.”  Across the United Kingdom, government officials are cracking down on citizens who wave British flags.  On both sides of the Atlantic, globalists berate citizens for not embracing “multiculturalism.”  We have finally reached a point when “patriotism” is demonized just as much as “nationalism.”

Without nations or patriots, where does that leave us?  It leaves us with continental landmasses filled with strangers.  Instead of people bound by common history, culture, religion, values, language, and family, North America and Europe are being transformed into spaces defined by absolutely nothing.  America’s new immigrants want to do away with the political ideals of the Declaration of Independence and the U.S. Constitution.  Europe’s new immigrants insist on replacing all the Christian churches with mosques.  Both continents are heading for a future when tribes of distinct peoples will fight for political power within turbulent territories that remain nations in name only.  Does anyone really believe that they will put aside their disagreements and obey the international proclamations of the United Nations or the European Union?

Eighty years of “internationalism” have destroyed the most natural political order that has ever existed: the nation state.  Now entire continents are filled with immigrants whose incompatible cultures ensure future conflict.  And instead of recognizing how destructive their policies have been across the West, globalists have the audacity to ridicule nationalists as threats to peace.  

The most important lesson from WWII was not that nations are bad but that totalitarian government is evil.  

Globalists sacrificed the former and embraced the latter.  

Westerners will now have to defeat globalism, too.

The Fed Can’t Let the AI Bubble Burst by Luke Gromen (Video - 1h24)

    Usually I do not post interviews from investors. They tend to be bland market comments. But not this one.

   Here Luke Gromen makes a ruthless assessment of the current bubble without being either optimistic or catastrophic. It is a spectacular analysis of what happens when the market crash badly. "Bad" may be an understatement but it won't be armaggedon. The reality will be complex..   Brilliant!

 The Fed Can’t Let the AI Bubble Burst | Luke Gromen

 

Saturday, August 8, 2026

Alastair Crooke - Iran 's ONLY Choice: Humiliate the US (Video - 1h10mn)

    It is refreshing to listen to Alaster Crooke with his profound knowledge of the world today as well as his deeper analysis that the West has completely lost its moral compass. 

   I have found over the years that he is one of the most reliable predictor of what's coming next and how the current situation will unfold. 

   Iran: The war is not over because the current equilibrium is unstable. Israel will never accept a stronger and stronger Iran and conversely, Iran knowing that a confrontation is unavoidable cannot return to a status quo of sanctions. 

   Ukraine: The West badly miscalculated. By putting "pressure" on Russia, they are obliging Russia to finish off Ukraine by cutting the Odessa port and land-locking the country, transforming what's left of Ukraine into a bankrupt rump state.    

   There is more to his analysis below which is quite interesting:  

Alastair Crooke - Iran 's ONLY Choice: Humiliate the US

 

Friday, August 7, 2026

Bessent's 'Yentervention' Does Not Fix Japan's Underlying Structural Issues by Ed Dowd

   This is serious as once again Japan finds itself at the core of a systemic risk to the international financial system. The Yen has been crashing for the last 20 years generating immense wealth for those who could profit from the extremely lucrative "carry trade". (Borrow in Yen, swap into dollar, cash a 5% coupon every year instead of 1% in Yen, swap back into Yen to repay the principal in cheaper Yen and make money both on the higher coupons and on the weakening of the Yen.) 

   This has been welcomed by Japanese manufacturers although in the end, it is the Japanese population which has paid the price finding itself in 2026 no richer than in 1986 when the Yen started rising following the Plaza Accord signed in new York in September 1985. So 40 years going nowhere while amassing a gigantic pile of debt thanks to ever rising government deficits. What could go wrong? 

   What will go wrong is that as the Yen weakens further, both the commercial and budget deficits explode requiring "interventions" and therefore Japan selling dollars and buying Yen. Unfortunately selling dollars means selling American Treasuries and bonds in large quantities which happens to be the wrong time of the cycle as the US Government needs buyers for its own huge deficits, not sellers of its debt.   

   Someone on either side of the Pacific will soon find itself squeezed between a rock and a hard place. The choice will be between restrain and massive inflation. No prize for guessing which solution will be favored although inflation is already high on both coasts. The question will be who can sustain the more pain without the market revolting and yields exploding?    

by Ed Dowd via 'Beyond The Narrative' substack,

...a delicate meal to cook before Midterms...

My conclusions on the Bessent yen intervention:

  • The move is a temporary Band-Aid at best and sharp yen strength can historically trigger carry-trade unwinds and risk-asset volatility, but it does not fix Japan’s structural debt or rate differentials. The Fed, BOJ and Treasury are walking a tightrope.

  • Consensus is correct that the primary driver is preventing forced sales of Japan’s $1T+ UST holdings that would spike US yields.

  • Expanding the FIMA repo facility is a backdoor start to yield-curve control, letting Japan borrow dollars against Treasuries instead of dumping them.

  • Bessent is explicitly worried about contagion in his own words by citing the Asian financial crisis trigger from a weak yen and framing the intervention as “stopping an emergency” before it spreads.

  • I believe one of the motivations was to delay any major market or yield disruption until at least the midterms.

  • Interventions like this rarely stick without fundamental policy shifts and often unleash unintended consequences down the road.

Background

On Friday last week:

July 31 (Reuters) - The U.S. Treasury has informed a number of ‌banks that it may intervene in the Japanese yen market on Friday and that they should “stand ready for future action,” a source familiar with the matter told Reuters.

The notice to banks, channeled through the Federal Reserve Bank of New York, comes a day after Japanese authorities stepped in to prop up the yen, setting ​the currency up for its biggest weekly rise since February, pulling it off of four-decade lows against the dollar.

News of ​the potential intervention by the U.S. Treasury helped push the yen higher against the dollar on Friday. It last traded at ⁠159.09 to the dollar after trading as low 163.65 on Thursday.

On Sunday August 2nd Treasury Secretary Scott Bessent confirmed intervention on X:

The Trump Administration delivers for America’s trusted partners. Economic security is national security. And the U.S.-Japan alliance is built on both.

Friday’s coordinated foreign exchange actions countered disorderly yen movements.

Treasury remains attentive and in close communication with our counterparts at MOF and BOJ. We will not hesitate to participate in further joint intervention.

The FIMA Repo Facility is an important backstop. We would encourage it to be upsized in the coming months.

We strongly support Japan’s decisive market and monetary steps to correct the substantial undervaluation of the yen.

The Takaichi government is moving into an exciting new phase of Abenomics, as nearly 15 years of powerful stimulus have created durable, robust underlying economic dynamics.

Market commentary on X quickly coalesced around protecting the US Treasury market. Japan is one of the largest foreign holders of USTs. A collapsing yen raises the risk of liquidation to defend the currency, pushing US yields higher at a politically sensitive moment. Many skeptics noted the fix is temporary and that the yen’s weakness is rooted in Japan’s public-debt burden and policy divergences, not purely speculative overshoot. Without follow-through on BOJ rates and Japanese fiscal discipline, official buying merely delays the inevitable.

In a clip aired on Bannon’s War Room on August 4, Bessent laid out the contagion risk directly: “One of the things that triggered the Asian financial crisis was a very weak Japanese yen that caused a tsunami across Thailand, Indonesia, and Malaysia. Someone asked me, ‘What’s the emergency?’ The emergency is stopping an emergency. We don’t have to wait for the crisis. We can remediate it early.” Bannon’s own brief framing that day was that the effort ultimately keeps Japan financing US deficits so they neither sell nor stop buying Treasuries.

My analysis

I posted this right after the weekend announcement on X:

“Massive, coordinated Yen intervention announced this weekend. Traditionally large delta rapid strengthening of the yen has been associated with risk asset weakness especially global equities. So far this is a 5% down move in USD/JPY (yen strength). Rapid moves can sometimes cause the Yen carry trade to become more expensive and liquidations can occur. In August 2024 a 10% move provided some volatility especially in Japanese equities. The cooks are in the kitchen now and it’s a delicate meal they are preparing.”

Meaning the authorities want to halt the Yen slide but they also don’t want it to strengthen too much and cause the Yen carry trade unwind. The goal is stability. Put another way, we simultaneously don’t want Japanese selling our treasuries out of reserves to defend a weak Yen but we also don’t want to see rapid yen strength cause a cascading global margin call. We saw a milder version of margin call in 2024 when the Yen strengthened 10% very quickly. The market is currently applauding the move. However, a coordinated official bid changes the near-term price action, but it does not erase the underlying positioning or the rate differential that keeps the trade alive.

I agree with the consensus that the core motive is preventing Japanese sales of US Treasuries and that the FIMA expansion is a backdoor beginning of yield-curve control. By letting Japan post Treasuries as collateral for dollar liquidity instead of selling them into the open market, the authorities are effectively capping the upward pressure on US yields. It is a clever, low-visibility way to manage the curve without an explicit Fed QE announcement. Combined with the direct yen purchases, it buys some time. I believe one of the motivations was to delay any major market or yield disruption until at least the midterms. But it is temporary. Japan’s debt dynamics and the need for eventual BOJ normalization remain. History shows these interventions lose effectiveness once markets test the resolve and the size required grows with diminishing returns.

Officials can signal and buy for a while, but without sustained Japanese policy follow-through the yen will eventually drift weaker again, forcing larger and more frequent interventions. Each round raises the risk of the very asset volatility and liquidity events that the cooks are trying to manage. Keep watching the carry-trade heat and the pace of any further coordinated actions…that will tell us whether the meal is cooked well or burnt.

“But everyone who hears these words of mine and does not put them into practice is like a foolish man who built his house on sand. The rain came down, the streams rose, and the winds blew and beat against that house, and it fell with a great crash.” Matthew 7:26-27

What Else Are They Hiding? - The Fall of Dr Fauci

   The fall of Dr Fauci should be a great time for transparency and democracy. Unfortunately instead of the indictment of a system, it is a man who is sacrificed. His responsibility is undeniable. The damage he did was profound. But he certainly was not alone in this endeavor. 

   When Bill Gates recently said that "We were not aware that Corona Virus was kind of like the flu!" Who was he kidding? Corona Virus WAS the flu or rather a well known variant representing 15 to 20% of the cases year after year. What was different in 2020 is that many laboratories around the world (Not just in Wuhan) had been working for over a decade to weaponize the virus, nicely renamed "gain of function", thanks to its high mutability, including inserting HIV and other dangerous sequences to make it more potent.    

   All this was well known from the beginning. This is why the Chinese were furious when the W.H.O. was on the brink of denouncing "Wuhan", statement on which they quickly backtracked after visiting the laboratory and checking that "no window had been left open!". (Literally. There was no investigation whatsoever as by then the place was under military control.) This would have opened a can of worm since the Wuhan P4 laboratory was well integrated worldwide, specialized in doing what was legally not permitted in Europe and the US with minimum oversight. 

   This was the cover up. Then Dr Fauci "happened" and transformed a seemingly innocuous crisis into an opportunity to test the new mRNA vaccines knowing full well that in normal times people would have resisted this dangerous vaccine which was neither safe nor tested appropriately. The pandemic phase was the destructive one when society was locked down and confined with long term consequences still at work today. The vaccine phase was the money making opportunity when Dr Fauci and many other people made a fortune profiting from the crisis they had unleashed. 

   The fight is not over. mRNA vaccines may one day become complex solutions to fight virus against which to this day we have very fell tools. But this is still too early. Our knowledge of genetics remains at the "Sorcerer's Apprentice" level. Doctors who said that the "tune" was wrong were punished. Fauci was the "Pied Piper" who played the flute and should in turn be punished for the crime.    

by Jeffrey Tucker via The Epoch Times,

This past couples of weeks was a wild ride. Sen. Rand Paul (R-Ky.) released many thousands of pages of documentation concerning the strange world of the National Institutes of Health (NIH) while Dr. Anthony Fauci was at the height of his power as head of the National Institute of Allergy and Infectious Diseases. Fauci’s wife headed the ethics department for the entire agency.

His tenure there came to an end in December 2022, following three years in which he was celebrated by mass media as the nation’s leading voice for science and the man with all the answers for dealing with a respiratory pandemic. He was on television daily, sitting for as many as 12 interviews a day.

All this while, he kept careful logs of each day, while working with a large staff to prepare the document as the first draft of an autobiography. He believed that he would go down in history with exactly the reputation the media had cultivated for him. He lobbied for and amassed dozens of awards, some of which paid in the high six figures. He was sought after and doted on by all the elites.

All at once, it has fallen apart.

The simple reason: The agency he once occupied is now run by a man and people he had ferociously denounced in public and private.

The release was an act not of revenge but of simple transparency.

The American people deserve to know the truth about a time in which accurate information was denied to them through censorship and media propaganda.

It’s a rare treat.

We find out, for example, that the billionaire Bill Gates has special security clearances at NIH, where at every visit he was treated like royalty. Gates cleared his book on pandemics with Fauci, who recommended an editor at NIH, none other than Dr. David Morens, who has been charged with document destruction.

The revelations go on and on seemingly without limit. I started reading as soon as the diary was released. I saw that it was 1,100 pages, but that’s full pages in small type. In book form, it would be 2,400 pages. I could not stop reading. Having lived and breathed every day of this, I was fascinated to see Fauci’s own thinking in light of the world outside.

Not only was my weekend gone completely, but also, without notice, the project took up the next day and evening and then again. And again. It was late Thursday afternoon before I finished. My notes on the salient parts, the truly astounding material, alone took up 30 pages along with screenshots. I had lost so much sleep over these days and canceled every appointment. It was all too delicious to resist.

And you know why, correct?

For years we had been stuffed to the gills with the greatness myth. Then it suddenly all unraveled, slowly but furiously and all at once. The author was put in front of a Senate subcommittee and questioned in great detail about the origin of the virus, the contracts, the cover-ups, the angling for fame and fortune, and so much more.

At every question, the witness would only invoke his Fifth Amendment right to remain silent to avoid self-incrimination. But this alone was strange because the witness had already gained a full pardon for any misdeeds dating back to 2014. He could have confessed all and then some and faced no prosecution. All he had to do was tell the truth.

He was vulnerable only to the charge of perjury, but even that he could not risk. So he remained silent throughout, invoking his Fifth Amendment right 111 times. I have watched many Senate hearings in my life. I had never seen one like this. The drama was intense. I was not there, but those who were said it was even more fiery in person.

There is really no way to sum up our current moment.

In 2019, the economy was doing well and Trump was popular. There were the usual political divisions but no real emergency on the horizon. All at once in the first months of 2020, everything fell apart and a foreign regime was visited upon us, complete with new protocols that required staying home and standing apart from people and covering our faces. We could not go to church, visit the sick, or travel to other countries.

A year later came the promised relief that turned out not to hold up but instead caused more suffering. All the while, trust in the system we had never really questioned began to collapse. We were routinely instructed to trust this Dr. Fauci. Most of the dissidents, including my friends who wrote the Great Barrington Declaration, were censored. Our accounts were threatened and removed. Many were debanked.

Our world collapsed completely, and all these years we’ve cried out for answers. We’ve received only bits and pieces, enough to cobble together workable theories.

Seemingly out of nowhere, we are sitting on tens of thousands of pages of revelations. We can only read with amazement at the inner workings of government, the chaos, the pettiness, the corruption, the confusion, the deception. It’s all here, and now we see that there was a strong basis for why trust had evaporated. It seems as if every conspiracy theory was coming true.

Consider too that we have all these documents only because Fauci left so much behind on government computers. We also have men and women of conscience in charge of releasing them. Millions of hours of painstaking work are behind these releases, all done in the service of truth.

It’s really not possible to feel any joy from what we read. There is only tragedy, not only in the life of one man but also in all those who followed him and the nation that suffered so much from living under his diktat. At the very least, we are entitled to hear answers from him, point by point, but instead we get silence.

The list of institutions that have been hit hard by this is long and includes large media, academia, the scientific establishment, the world of professional medicine, and government itself. We cannot help but wonder today what is real and what is fake, what can be trusted and what is too far gone ever to be trusted again. No one ever wanted to be where we are today at the 250th anniversary of the country, to see how the dreams and ideals of our Founders have been so trounced and disrespected by so many in power. And yet that is where we are.

There is some deeply profound poetry about this moment. As sad as all of this is, and as much as it pains us today to think of all who have suffered, we should feel gratitude mainly for the truth to which we suddenly have access. For me, reading all these releases has been something of a catharsis. I hope you too will read and not merely trust media summaries or artificial intelligence reductions. It needs to be read in full to get the whole picture.

Nor can we shelve that great, great question: What else is being hidden from us, and for how long? Trust cannot return until we know the full truth. I suspect that this will take many years, and that’s fine. We can be patient.

Let there be no despair in the land today. These files have been released by men and women of enormous courage and conviction. They have taken huge risks to stand up for what is right. They have given us all a gift, the evidence that our instincts that something was not right were on target. They are evidence that redemption is not only possible; it is happening.

In those dark days of 2020 when the world seemed to be collapsing, Dr. Jay Bhattacharya of Stanford University would call me with a grave sense of moral urgency. “What can we do to stop the madness?” he would ask. He did what he could then. Now he finds himself as the head of the National Institutes of Health, working to begin the process of rebuilding. We have a very long way to go, but the essential first steps are done.

We are going to get what we seek: the truth, the whole truth, and nothing but the truth.

The Globalists Ideology Must Be Vanquished

    We have learned the hard way that Ideologies are dangerous, not because of what they say but because of what they do. The 20th century w...