Dave Collum's 2023 Year In Review: Down Some Dark Rabbit Holes, Part 2

  This is the second part of the year in review by Dave Collum. All in all it seemed that 2023 was an eventful year. But that may just be because we knew nothing yet about 2024!

  Before the 2008 crisis, we had all the warnings of the impending crash thanks to the derivative market. In 2019 if was the Repo market which preceded the Covid virus by a couple of months. Now, the omens are here but the feel is different.  

  Between the fentanil streets of Philadelphia, the closed stores of San Francisco. the human tsunami at the Mexican border and in the Mediterranean Sea, the Ukrainian tragedy, the Gaza genocide and the endless other crisis, the problems have become pervasive and the markets are levitating above reality. 

 How long this can go on is anybody's guess but the time scale must be in months, not years. So enjoy the Dave Collum's wit. In 2024 it will probably take a more sinister turn.

Dave Collum's 2023 Year In Review: Down Some Dark Rabbit Holes, Part 2

 

Dave Collum's 2023 Year In Review: Down Some Dark Rabbit Holes, Part 1

  This is the Dave Collum Year in review newsletter. Powerful and often witty comments about the world and the economy in 2023. It is a must read but unfortunately over the years it has become too long so I won't repost it here and just give a link to the full letter on Zero Hedge.  

 If you want a very short version: Here it is. Cynical but true!

We now live in a nation where doctors destroy health, lawyers destroy justice, universities destroy knowledge, governments destroy freedom, the press destroys information, religion destroys morals, and our banks destroy our economy.

~ Chris Hedges

Dave Collum's 2023 Year In Review: Down Some Dark Rabbit Holes, Part 1

The "Control System" Is Collapsing - 'The Great Taking' Looms As Globalism's Last Gasp

  In retrospect this sounds obvious, but if you can issue as much money as you want without any (short term) consequences, what will stop you from buying the world? 

  What indeed? And this is unfortunately what we have been witnessing for over 50 years now. Since 1971 exactly, when the dollar (the world money) was dissociated from gold "temporarily" by Richard Nixon.

  The theory says that issuing too much money will create inflation and destroys the economy. This is true if you are Zimbabwe but it doesn't work that way if you are the US because the money doesn't flow to the economy, it flows to assets creating bubbles enriching cronies and well connected people who have access to low interest loans. This is what we have witnessed over the last decades, slowly at first and then in an accelerated manner recently. The rich gets richer and the poor (almost everybody else) gets poorer. The last parameter of the equation is to control tightly the numbers and massively under-represent inflation. This started happening in the 1990s when governments realized they could "adjust" inflation with "hedonist" parameters and absorb the 1.5% of yearly technological progress as well as "convenience" factors to massively subtract to actual inflation. The result? Americans and Europeans are about half as rich today as they were in 1980. Good job!

 The problem with all great ideas like this one is that sooner or later you hit a wall. We had a hint of this in 2008 when the virtual economy needed re-floating urgently. Then again in 2020 but this time the money needed was 10 times larger. And so we had a pandemic to justify the trillions. You won't start counting the beans for your own health, will you? Now for the final takeover, they will need a few hundred trillions. Basically ALL the money in the world. The CBDC! Think how convenient this will be!

 Can they pull it off? I don't know. I think not but who knows.        

Authored by Mark Jeftovic via BombTh.com,

The Great Taking: The Latest “Anti-Mainstream” Conspiracy

A new book has exploded on the alternative / conspiracy / fringe landscape over the past few weeks – I don’t mean that in a derogatory sense. Zerohedge, Bombthrower Media, et al, we all occupy this space. Let’s call it, “anti-mainstream”.

The book is called “The Great Taking” and there is now a YouTube video documentary of it here. You can’t actually find it on Amazon (deliberate choice by author, I presume); I bought my copy via Lulu, but you can download the PDF for free here.

At the risk of oversimplifying it: The Great Taking puts forth a warning that a virtually unknown entity called “The Depository Trust & Clearing Corporation” (DTCC) is effectively the “owner” of all the publicly traded companies in the world, and in fact all debt-based assets of any kind:

“It is about the taking of collateral (all of it), the end game of the current globally synchronous debt accumulation super cycle. This scheme is being executed by long-planned, intelligent design, the audacity and scope of which is difficult for the mind to encompass.

Included are all financial assets and bank deposits, all stocks and bonds; and hence, all underlying property of all public corporations, including all inventories, plant and equipment; land, mineral deposits, inventions and intellectual property. Privately owned personal and real property financed with any amount of debt will likewise be taken, as will the assets of privately owned businesses which have been financed with debt.”

Over the course of the book, the author describes a 50-year process by which ownership of shares in public companies, and all debt collateral has been “dematerialized”.

In the olden days, you invested in a company – they gave you physical share certificates – and you were now part owner of the company. This is still how many value investors including me think of stock ownership.

We’re not invested in all of these companies in The Bitcoin Capitalist Portfolio simply because we’re trying to time the oscillations in the price movements. We think of ourselves as partial owners of these businesses.

Michael Saylor, Brian Armstrong, Mike Novogratz, Frank Holmes, Jamie Leverton et al, aren’t just celebrity CEOs in this space (Bitcoin)… they’re our partners. Granted, we’re the minority partners, silent ones, betting the jockeys and just along for the ride; but we don’t think of these positions as just stock charts and price gyrations – we think of them as businesses in which we are part owners.

At least I do.

According to The Great Taking, author David Rogers Webb, this is not true. We don’t own small pieces of these companies, we own claims on those pieces, because – over the course of decades, through the exigencies of ever-increasing trading volumes, combined with the machinations behind the scenes of diabolical manipulators – stock ownership has been supplanted by “security entitlements”.

Webb posits that when the debt super-cycle culminates in its ultimate blow up; the trap will be sprung, and actual ownership over all these companies and assets will be subsumed by the clearing houses. An infinitesimal cadre of elites will effectively own everything, and the masses of the world will be reduced to serfdom.

Which sounds familiar; it seems to be the common theme from The Great Taking to the WEF’s Great Reset (or Stakeholder Capitalism, or whatever they’re calling it these days).

It’s the mother of all wealth transfers, one that makes the ongoing wealth transfer of inflation and the Cantillon Effect – or the sharp shock heists that occur during every crisis from the dot-com bust through the GFC to the Covid Panic (the last of which saw an overt war on small business as those deemed “non-essential” were shut down while the megacorps were propped up by the central banks) – seem tame.

Here’s my thoughts on The Great Taking:

Modernity could be described as humanity’s accelerating pace of technological advancement. Part of that advancement is the ever increasing level of intellectual abstraction.

If you’ve been a member or following my writings long enough, you’ll have heard me talk about the W R Clement book, Quantum Jump; written in 1998, it ascribed the entire scientific revolution from the Enlightenment onwards, to the discovery of perspective (then called “God’s space”), in art:

Brunelleschi and the re-discovery of Linear Perspective circa 1400’s

That “quantum leap” began the process of rewiring all our brains for ever higher levels of intellectual abstraction. It enabled us to go from ownership of a coal mine, for example, being ascribed to whomever physically occupied the space – including militarily – to people, and even corporatized entities like pension funds or investment clubs, owning fractional pieces of that mine, from far off places, even other countries.

Initially we did this using physical pieces of paper to represent that ownership. There is a scene in an Agatha Christie “Miss Marple” mystery, “The Moving Finger”, where a man of leisure (played by William D’Arcy) takes to convalesce in a small cottage in a country town, and he visits the local barrister to register his securities with him, reaching into the inside pocket of his sport jacket and handing him the physical share certificates.

Today, he’d just handle everything from a smart phone he carries around in his jeans.

That’s increasing abstraction.

What The Great Taking is warning us about, is that this increasing level of abstraction comes with a price – that we’re no longer really fractional owners of these businesses, we’re owners of claims on these businesses.

And he may be right.

Webb is a former high level financier and an expert in the legislation and regulatory framework that governs the space. The book looks to be meticulously documented and the legalities well researched.

This is no different, I might add, from our mantra: “Not your keys, not your coins”.

In fact as I read through The Great Taking, I found myself marvelling at how closely everything Webb was describing resembled what happened during the crypto carnage of 2022-23, when hapless users who had deposited their crypto with exchanges found their assets rehypothecated, collaterized – even appropriated from under them.

It drove home the lesson, hard.

Holding shares of Amazon in your E*Trade account may, when the chips are down, be no different from keeping your stack of BTC on an exchange (please don’t).

The businesses to survive an event like The Great Taking, may end up being privately held ones. The assets you keep may be the ones with no counter-party risk – sound familiar? It’s only a core tenet of the entire Bitcoin philosophy.

It is possible that in the event of an even larger financial crisis than we’ve seen prior (and in case you haven’t noticed, each one is typically an order of magnitude larger than the previous), everybody holding publicly traded stocks on platforms gets rug-pulled – and some mysterious and shadowy entity winds up with all the marbles.

Should that occur, I would expect it to signify the end of the global financial system as we know it, and not in a way wherein the society simply continues as a world of penniless serfs, subservient to about 0.001% of the elites.

It would be more of a “last gasp of Globalism” than a final takeover of the world.

Some closing thoughts from the book’s author seems to concur:

I will make a startling assertion. This is not because the power to control is increasing. It is because this power is indeed collapsing. The “control system” has entered collapse.

Their power has been based on deception. Their two great powers of deception, money and media, have been extremely energy-efficient means of control. But these powers are now in rampant collapse.

This is why they have moved urgently to institute physical control measures. However, physical control is difficult, dangerous and energy-intensive. And so, they are risking all. They are risking being seen. Is this not a sign of desperation?

This has also been my read on it from fairy early in the pandemic, and more so since – especially after the #FreedomConvoy. Official narrative aside, that event sounded the death knell for not only Covid Tyranny, but for WEF-inspired globalism itself.

Within a year of that happening, all Covid emergency measures had ended worldwide, vaccination uptake rates went into secular decline, and the mainstream media entered into a full-on death spiral.

Webb continues:

“We have entered a time in which their nature is being recognized. Knowledge of their existence has become unavoidable. Their grasping will come to an end, because all of humanity cannot allow it to continue.

Once it is recognized, humans will bond against a common existential threat.

People from all walks of life will join in common cause. We have witnessed this already.”

It follows a theme I’ve been developing for a few years now, one that I didn’t originally conceive but came across and feel is accurate:

That theme is that the next, worldwide conflict (“World War III”, in essence) will not be a geo-political struggle of the US vs China, or West vs East, or NATO vs China/Russia: it will be populations against their own governments.

When you think about it, it almost fits the historical definition of the Marxist “class struggle”, only we – hopefully – don’t get a Communist “utopia” at the end of it.

In fact, I think that’s what everybody will be rebelling against: the imposition of a technocratic socialism that attempts to hoover up the property rights of the rest of humanity.

Those attempting to capitalize on this, the elites and the technocrats, have only really had one superpower with which to build their position over time:

“They promote the belief that they are all-powerful. They are not. 

All they have had is the power to print money. 

The rest, they have usurped from humanity.”

Of course, Bitcoin is the kryptonite to this superpower, the one thing elites had which enabled them to rig the entire system in their favour is basically finished, and they know it.

At the risk of going on too long about it here, but wanting to do the topic some justice, The Great Taking scenario isn’t incompatible with what we’ve been calling The Great Bifurcation since the onset of the pandemic, encapsulated by my glib, cynical quip:

“In the future, there will only be one occupation: managing one’s wealth. And most people, are gonna be unemployed.”

We see The Great Bifurcation happening all around us already: tent cities from Burnaby to Toronto, fentanyl zombies roving San Francisco, increasing masses behaving like savages; this isn’t because of race, politics, religion or even a far-reaching global conspiracy to impoverish humanity or depopulate the earth (although there are almost certainly cells of elites who would wish that) – it’s because we’re using debt for money, we can’t stop, and the level of intellectual abstraction that is required to operate, let alone thrive, within a hyper-financialized world, is leaving larger and larger chunks of the population behind.

Anytown of the future.

It’s Alvin Toffler’s “Future Shock” (tl;dr: the rate of technological change will accelerate and compound) released in 1971, combined with Clement’ “Quantum Jump” (intellectual abstraction will become increasingly more complex) from 1998, writ large.

These two accelerating dynamics conspire to create a veritable “Breakaway society” where those who are positioned and have the cognitive ability to front run the technology live in the future, and the rest, who can’t, fall behind into the past.

The main difference that I see is Webb’s Great Taking is a deliberate conspiracy driven by successive generations of insular elites, whereas my concept of The Great Bifurcation is, as I always say, more the result of perverse incentives and dynamics than outright conspiracy.

The reality is probably elements of both.

Having said all that, we should be clear in our motivations and strategies for what we are holding in our equities portfolios:

We hold Bitcoin, in proper self-custody, so nobody can take it from us in the event of a catastrophic collapse of the financial system.

We may hold some physical gold, silver, junk silver for the same reasons, and we may have property somewhere, farmland, anything that we can lay physical claim to – although we may find ourselves in a situation where we have to somehow enforce those claims.

Stocks, ETFs, even Bitcoin stocks or weird crypto moonshots, we don’t hold these to survive the collapse of the system. We hold these to try and garner out-sized investment returns within the system so long as it continues to function.

I don’t know about you, but I actually don’t want the financial system to collapse. I don’t want society to go off the rails, I am not an accelerationist.

I’m not hoping for a hyper-inflationary flameout of the entire global economy. That would suck, and I’d prefer to be wrong about that.

In other words, were The Great Taking scenario to play out and come true, it would be a permutation of a catastrophic collapse we’ve been positioning for anyway – and we never really considered our equities portfolio (at least we shouldn’t) as part of our toolkit for navigating the collapse of the financial system.

One way or another, should the entire system collapse, I expect our stocks to be among the first casualties, via bail-ins, capital controls, forced conversions into government debt, recapitalizing zombie banks or after all those – if we’re unfortunate enough to have been wildly correct about our positions – “windfall taxes” taking much of what’s left. (I am not alone in thinking this; any of you who also read Mark Faber’s Gloom Boom Doom report know he expects to have upwards of 25% of his wealth confiscated by technocrats during some future, exigent crisis).

That’s why I said in the November letter, on this cycle (or the next) we will have to individually make our exits from the equities based on our own financial goals. While we keep our Bitcoin stack forever and make plans for inter-generational succession – and we may do that with some of our stocks (I could see *** and *** being legacy, dynastic holdings) – for the most part we’re in these to strategically profit within the existing system and cash out to meet our financial objectives.

Everybody knows I want my lake-house in the Muskokas, and you should know what it is that you want.

CIA Officer's Shocking Confession: "UFOs Are NOT What You Think!"

  This is a clickbait video so the tittle is irrelevant and it's full of junk. And still there is enough information to keep it as the core of this subject. 

  Lately, we have been bombarded with UFO information, mostly that the (US) government actually knows far more than is told. But is this true? I am open to the suggestion although I do not believe any of it.

 Here, what we have is Edward Snowden telling us that among all the secret documents he has had access to, he never saw anything related to UFO, even less about a conspiracy on the subject so that if there is anything at all related to UFO, it must be deeply buried where most people have no access to. 

 The absence of proof is not the proof of absence. This said, I would tend to concur. There must be here and there interesting reports and documents which have not been divulged. That much is certain. But the rabbit hole probably stops there. 

 No alien craft, bodies and artifacts buried under a storehouse in Area 51 in Nevada. No nothing in fact. The government knows little more than we do. The subject is just used to flood the headlines when something of interest, or a scandal is about to erupt. Whistleblowers will come and go. UFOs will continue haunting our skies and we won't learn more about the subject. It is simply beyond our grasp.     

 Uncontacted tribes in the Amazon do not "discover" us. They know we exist. They can see our planes up in the sky and sometimes hear about gold diggers far away in the forest. But mostly their knowledge of "us" is static. As for UFOs, we are the tribes.

ALERT: A HACKERS WARNING "ITS WORSE THAN PEOPLE CAN IMAGINE" Nationwide CYBERATTACK

 Will cyber-security become THE subject of 2024? (Among others!)

 While we are playing and having fun with ChatGPT, less well intentioned people are putting it to good use and making quite a lot of money out of it. This may indeed explode although the time frame will probably be more than a single year.

  On this subject, non State actors are less dangerous since their main motivation is "money". On the other hand, the chance that the current economic war morph into a cyber war seems quite high. Then all bets are off. The electric grid may indeed be a prime target. We've been warned.

 

"This Is Off The Charts": Economist Claims 2024 Will Bring 'Biggest Crash Of Our Lifetime' In US

  Or will it? "Predictions are very difficult especially about the future!" Right? So let's dive in.

  What is certain is that the current imbalance cannot last. 2024 will bring major changes. But what king of changes? Economic tensions are rising fast. Compared to that, are interest rates so important? 30 years ago the answer would have been yes. Now with the utterly rigged markets we have, probably not so much. 

  The real question is: Will the black swan of 2024 be natural or artificial? Because the market are so well managed nowadays, a "mistake" as in 2008 cannot happen again. The Central Banks will immediately flood the markets. Knowing this, market players are speculating like there is no tomorrow, or rather no risk, which itself creates its own risk. But probably not enough of it. Just another bubble on top of existing ones. 

  What is more concerning is that the previous bubbles, real estate in America and especially in China are already popping and acting as a drag on the economy. But as the example of Japan shows, this will hinder growth in the long term, not precipitate a recession in the short term.

 To get a depression, something significant has to happen. If it cannot come from the market, then it will have to be either geostrategic or artificial.   

 As for geostrategic, Israel will do its very best to inflame the Middle East and the US will try weakly to resist being dragged in. Easy prediction since it is where we are right now. In all respects, we are already in the early stage of a third world war. It is a war by proxy for now but can quickly degenerate. The ongoing economic war will add to the pressure then the recession early next year will further increase that pressure until it becomes unbearable. (which won't be so hard in democratic societies, especially in Europe.)

 Let's not forget that ALL wars are instigated and that those who raise the tensions also tend to be the ones who benefit in the end from the immense redistribution of wealth. We are most certainly heading towards such troubled times. My best guess? April to July for the apex of the crisis but it really could come at any time as the tensions will rise steadily month after month. Prepare for a bumpy ride.

Authored by Jack Phillips via The Epoch Times (emphasis ours),

An economist who focuses on consumer spending has issued a dire warning about the U.S. economy in the coming year.

"Since 2009, this has been 100 percent artificial, unprecedented money printing and deficits: $27 trillion over 15 years, to be exact," economist Harry Dent told Fox Business on Dec. 19. "This is off the charts, 100 percent artificial, which means we're in a dangerous state.

"I think 2024 is going to be the biggest single crash year we'll see in our lifetime.

"We need to get back down to normal, and we need to send a message to central banks," he said. "This should be a lesson I don't think we'll ever revisit. I don't think we'll ever see a bubble for any of our lifetimes again."

A trader looks over his cellphone outside the New York Stock Exchange in New York on Sept. 14, 2022. (Mary Altaffer/AP Photo)

Mr. Dent, who owns the HS Dent Investment Management firm, told the outlet that U.S. markets are currently in a bubble that started in late 2021 amid the COVID-19 pandemic.

"Things are not going to come back to normal in a few years. We may never see these levels again. And this crash is not going to be a correction," he said.

"It's going to be more in the '29 to '32 level. And anybody who sat through that would have shot their stockbroker," Mr. Dent said, making references to the stock market crash in 1929 that led to the Great Depression throughout the 1930s.

"If I'm right, it is going to be the biggest crash of our lifetime, most of it happening in 2024. You're going to see it start and be more obvious by May.

"So, if you just get out for six to 12 months and stuff stays at the highest valuation history, maybe you miss a little more gains if I'm wrong. If I'm right, you're going to save massive losses and be able to reinvest a year or year-and-a-half from now at unbelievably low prices and magnify your gains beyond compare."

Mr. Dent's predictions of a market crash are nothing new. In 2009, he wrote "The Great Depression Ahead," a book that forecasted a significant market crash.

In the past few weeks, several analysts have been making similar predictions of a significant stock market crash in the near future.

"Based on prevailing market valuations, we estimate that poor total returns are likely for the S&P 500 in the coming 10–12 years, that equity market returns, relative to bonds, are likely to be among the worst in history, and that a market loss on the order of [minus] 63 percent over the completion of this cycle would be consistent with prevailing valuations and a century of market history," Hussman Investment Trust President John Hussman, who called the 2008 crash, wrote in a note in October.

Wrong Prediction?

However, in a recent note, investment banking firm Goldman Sachs raised its 2024 S&P 500 target by 8 percent, to 5,100, forecasting a tailwind for U.S. stocks from falling inflation and declining interest rates.

"Looking forward, the new regime of both improving growth and falling rates should support stocks with weaker balance sheets, particularly those that are sensitive to economic growth," the firm wrote late last week.

Federal Reserve Chairman Jerome Powell said last week that the U.S. central bank's consequential tightening of monetary policy is likely over as inflation falls faster than expected, and that a discussion of cuts in benchmark rates is coming "into view."

The shift from the Fed helped to push the S&P 500 near a record high and sent bond yields tumbling. Goldman strategists expect the Fed to cut rates by 25 basis points at each of its policy meetings in March, April, and May, followed by quarterly cuts that will bring down benchmark rates to a range of 4 percent to 4.25 percent by year-end from the current range of 5.25 percent to 5.5 percent.

The bullish outlook from Goldman Sachs comes as other firms have increased their expectations for interest rate cuts by the Federal Reserve. Bank of America Global Research, for example, now sees the Fed cutting rates by 100 basis points next year, beginning with a 25 basis-point cut in March, compared with its previous estimate of 75 basis points.

The U.S. central bank raised rates in a bid to offset decades-high inflation. Data provided by the Bureau of Labor Statistics shows that the Consumer Price Index that measures inflation rose by 0.1 percent in November 2023 on a seasonally adjusted basis and was up by 3.1 percent year over year.

Reuters contributed to this report.

Europeans Should Be Terrified of What’s Coming

   Europe has a problem. It used to be long term and nobody cared (of course) now we can hear the roar of the waterfall. It's still in the distance but it sounds like a mighty one. The strength of Europe was the Euro but because they have abused it, as any hegemon would, it is fast transforming into a weakness. A long, long time ago, 1990? Germany was a powerhouse and could manage the pressure. Now, what's left of it? Without cheap Russian gas and conversely with terrible carbon priorities, the country is de-industrializing fast. Soon the time to give lessons to Africa, India, China! will be over. Already nobody cares. They are just too polite to say so overtly. But this won't last. The time for the CBDC was last year. Not that they won't try though. It's just too late. Read on...   

From the article:

Veteran anti-Islam populist leader Geert Wilders has won a dramatic victory in the Dutch general election, with almost all votes counted.

After 25 years in parliament, his Freedom party (PVV) is set to win 37 seats, well ahead of his nearest rival, a left-wing alliance.

“The PVV can no longer be ignored,” he said. “We will govern.

Let me be clear. Our job here is to identify and navigate the political and market trends and to profit from them. Wilders (like all others) is simply another wheel in the global cog we need to factor in.

Here’s what I think is going to happen in Europe. The zeitgeist that exists is decidedly anti-establishment, and increasing numbers of people are unhappy with the authoritarian nature of the pointy shoes in Brussels. Consider the election of Meloni in Italy, the election results in Slovakia we have spoken about, and now of course the Dutch elections all point towards the same thing.

Right now both the Dutch as well as the Slovaks are celebrating, but the issue here is that these elections are not enough. The leaders of any EU country are completely and totally hamstrung by their monetary overlords at the ECB.

Consider Meloni, who — despite her clear desire to effect many changes — may as well pop on some frilly lingerie and handcuff herself to the bed for some naughty time with her man, because at least that way when she’s getting screwed she can feel good about it.

Why and how?

Because the moment she (or in fact any leader or leading party in any EU country) tries to do anything that the pointy shoes in Brussels dislike, they simply remind her that they can and will simply cut off liquidity to the Italian banking system. Meloni’s government wouldn’t last two weeks, and she knows it.

The same is going to be true of Wilders in Holland and all the others, too. Until any EU member state actually removes itself from the currency system, they’re screwed. And removal from the monetary system by default would mean sanctions and removal from the European Union and the myriad trade agreements linked to it. So you can see that as the pressure cooker gets ever more pressurised the ultimate answer is going to be a breakup of the entire union.

This is inevitable, if only because of the enormous and completely unpayable debts now accumulated.

Take for example the German 10-year bund.

Yields are rising rapidly now from the lows of 2020, but as rapidly as they’ve been rising you can see that they’ve a long way to go simply to get to 1990 levels.

Keep in mind that the debt burden on the German government back in 1990 was nowhere near as severe as it is today. And back in 1990, Germany had access to cheap reliable Russian gas. Now they don’t. And also, back in 1990, woke absurd “climate change” policies were not in full force. Now they are.

Add to this bonfire the rising inflation due to the destruction brought by the CO(N)VID lockdowns, followed swiftly by the blowing up of Nord Stream, which has cemented European industry in a spiral of higher costs (inflationary). At the same time the bureaucrats attempt to kill demand with completely moronic “climate policies.”

This is why we’re seeing the rush to implement a CBDC. It is critical for all these reasons.

To recap. They need to hold this ball of wax together because it’s all about to come splintering apart and their power base (which is in the EU) is threatening to collapse. The need to repudiate these unpayable debts before it all blows up is why they are rushing to bring on a CBDC. They know that the social upheaval of a repudiation of debt and the consequent outrage needs to be met with brute force. This can be achieved when they control individuals’ access to payment for basics like food and shelter.

Basically, they’re looking at doing to the peasants what they’ve already managed to do to the sovereign states within the EU via the banking system.

I don’t believe it’s going to work, but oh boy, are we in for some tough times. This is one reason why I can’t be bearish on the dollar. Not because the dollar is fantastic. It’s not. But it provides liquidity and a faltering euro leaves few places to quickly park scared capital. Europeans should be terrified of what’s coming.

The smart money has already begun leaving, and this trend doesn’t appear to be one that is likely to change. Sadly, most folks will be captured because capital controls are at this point a given.

When? I don’t know, but does it really matter?

If I was a European (with my assets, banking, etc. all in Europe), I’d definitely be considering having some precious metals offshore and some bitcoin.

On that last point, please, for goodness sake, if you’re going to own bitcoin, then self custody it. That is the ENTIRE point of owning it. Sticking it into your brokerage account via some ETF defeats the purpose. Don’t do that!

America, Say Hello To Your New Landlord (Russell brand Video 29')

   Russell Brand is difficult to follow as he presents his ideas as a "show" but don't get it wrong, his focus is on the right stuff. i.e. that which you won't find in the media nowadays. Here it's about big tech taking over society, nothing less. With governments in their pockets and the media as a megaphone, who is left to oppose them? The people have less and less money, big tech more and more. It doesn't matter that it's all fake money created ex-nihilo by central banks. What counts is relative power. As George Carlin would say: "They have it, you don't!" As so we rush full speed into a dystopia of our own making. Or is that a wall strait ahead?

 

Marc Crispin Miller Exposes The "Rolling Thunder Global Propaganda" Campaign

   Once you are aware of it, the nonstop propaganda of the modern medias becomes painful to hear. But most people are not "aware" and their opinion is indeed almost completely molded on demand. 

  Unfortunately there is nothing at all modern about this. Most people believe that the political system they live with is the right one, their religion the only true one, the food they eat the best one, the women in their country the prettiest... 

  It is a social mechanism which helps people integrate within the group which used to be a tribe and is now a corporation or a country. What was useful and even necessary at the tribe level has been hijacked at the country level and used for purposes which are not necessarily beneficial to the individual and may in fact go against his or her interest whence the necessary propaganda.

   In the end, the unfortunate truth of the matter is that a great majority of people are simply not intelligent or educated enough to build their own independent belief system. Religion, politics and propaganda are just the fast food of the mind. Easy explanations to help them make sense of the work and without which they would be utterly lost.  

  This is why winning an argument with an imbecile does not help him or her see the light. It just confuses the matter.... for a while. Then they comfortably return to the cocoon of their beliefs and hate you for what you have done to them.  

  Now should we talk about democracy? Or just leave the final word to H. L. Mencken? "For every complex problem there is an answer that is clear, simple and wrong!" which is why, "Democracy is the pathetic belief in the collective wisdom of individual ignorance,"

Via Greg Hunter’s USAWatchdog.com,

New York University (NYU) Professor Mark Crispin Miller (MCM) is an expert in propaganda.

Dr. Miller says from infection to injection, Covid 19 was a global "propaganda masterpiece."

Propaganda on this level has never happened before in human history. Dr. Miller explains,

“The media has been crucial to this entire operation, and I would take that a little further. I would say since the beginning of 2020, we have been subjected to a ‘Rolling Thunder of Propaganda’ drives one after another. 

First, there was the (CV19) virus panic.

Then, there was the George Floyd moment. Now, there is a new documentary that shows George Floyd was not actually murdered... It’s called ‘The Fall of Minneapolis.’...

There was the 2020 Election. There was the so-called ‘insurrection.’ That was a wave of crackpot hysteria... because it was not an insurrection...or coup attempt.

Then, there was Ukraine, and the entire back story of Russia’s invasion was completely missing from all the coverage...

This is all the result of the media doing the opposite of what it is supposed to do. The ‘Framers’ (of the Constitution) realized the absolute necessity of having a free press...

This was before the corporate media cartels, which is what we have now... The Framers knew... to offer a counterforce to federal power, we absolutely had to have a free press...

The reason why the press has First Amendment protections is it... tells truths the federal authorities does not want us to know.

To say the press has failed abysmally is actually giving them too much credit.

They have been instrumental throughout this nightmare, whose aim is radical depopulation and destruction of democracy... if you just tell the other side of the story, you are public enemy #1.”

With more than 700 million mRNA CV19 bioweapon injections in the US alone and more than 13 billion CV19 injections globally, the implications of this depopulation agenda is the biggest story ever short of a global thermal nuclear exchange.

This, too, was part of the “Rolling Thunder Global Propaganda” campaign.

Dr. Miller has dedicated his Substack to reveal mounting and massive deaths and injuries one person at a time. Many doctors are revealing data and sources proving the CV19 vax did not help a single person.

The NYU Profesor calls the CV19 so-called vaccine “the perfect crime.”

Dr. Miller explains,

“It’s the perfect crime because there is a long delay between the pulling of the trigger and the collapse due to the bullet. You see what I mean? Sometimes it can take people two years to succumb to the consequences of taking the shot. It’s the perfect crime. I also liken it to the infamous mass murders of mid-century...

This had much more sophistication than those mass murders. It’s not just the bigger numbers, but they got people to take this willingly. Hitler, Stalin and Pol Pot were all coercive...

This is the first mass murder that is the result of getting people to clamor for it. The panic over the Corona virus was so successful that people were craving vaccination—craving it.”

The good news from Dr. Miller is that it appears people are waking up at a fast pace.

He points to the low uptake of more CV19 boosters in a range of only 3%. Dr. Miller is dedicated to waking people up to the mass propaganda psyop that has led people in a disastrous direction. Dr. Miller says,

“People can subscribe to my Substack, and you can do it for free. I am doing this for the public good. I am always grateful for paid subscribers because I am on disability now as a professor at NYU, but I am not doing it for that reason.

I am doing it because something really, really evil is going on, and people have to snap out of it. People have to wake up. I do believe people can wake up, and there are indications that people are waking up.”

4th Generation Devastation: The West Has Been Targeted In A Cowardly Globalist Mind War

  The more you look into it, the more you realize that there is a lot of truth behind most of the conspiracies which is usually watered down by nonsense so that in the end people are not sure what to believe. Eventually they hang to whatever is left of a belief system which itself is pulled from under their feet. Most of it is not by accident and as explained below, this is what's behind the woke phenomenon: A systematic weakening of truths and social pillars so that society becomes easier to manipulate.

  It is hard to foresee where all this will take us although history is not kind with deviances which end up being associated with decline with much justification. The elites by definition are above the laws and social norms like pedophily do not apply. But eventually time and success breed hubris...

  The author below is optimistic that there will be a reaction as people understand what's going on. This may be very optimistic.

Authored by Brandon Smith via Alt-Market.us,

When I first encountered the concept of 4th Generation Warfare around 20 years ago I was studying the basics of propaganda and how it works. While the core issue is deeply disturbing on a number of levels I also found it fascinating – The ways in which governments and elitists have endeavored to control the masses while at the same time trying to avoid direct confrontation whenever possible.

With the advent of civilian populations armed with military grade weaponry and familiar with the training required for combat, elitist groups realized (post American Revolution) that dominating the public with military might was no longer a sure bet. They had to engage in a new kind of warfare using psychological attacks until they could weaken and disarm the populace. The new system of oppressing was about mental coercion; to make people believe that the authoritarian ideal is inevitable.

One part of this strategy involves using economic leverage for social engineering. A hundred years ago it was more about banks creating an endless series of debt mechanisms and controlling the issuance of currencies. Today, corporate elites are expanding – They want to change the very nature of money through Central Bank Digital Currencies (CBDCs). By extension, they’re also trying to influence public behavior by attaching “social justice” ideology to economic participation through ESG.

In other words, if you want to have access to credit or money and have the ability to compete in the new “inclusive” marketplace, you will have to bow to the woke religion. If you refuse, your access to trade could be shut down completely, and you and your family could starve.

A greater factor in the mind war, though, is the shift of the Overton Window by making cultural pillars into cultural villains. This is being accomplished through the creation of the deconstruction religion, or what we sometimes call the “Cult of Woke.”

Name any cultural value or principle that defines the western world, such as meritocracy, independence, self reliance, mental toughness, liberty (with responsibility), legacy through hard work and family, the protection of children from perversions, discipline over hedonism, logic and reason over fanaticism, conservation of heritage and history and for many people the tenets of Christian duty. These are all pillars of our society which the woke cult seeks to destroy. In every way I can imagine it is a psychological war on the west, all of it funded through billions of dollars in grants from globalist think tanks like the Ford Foundation, Rockefeller Foundation and the Open Society Foundation.

The globalists view public manipulation and social engineering as their birthright. They think it’s their manifest destiny, and they suggest often that humanity would somehow decay and self destruct without their influence.

As the famed propagandist Edward Bernays once stated:

“The conscious and intelligent manipulation of the organized habits and opinions of the masses is an important element in democratic society. Those who manipulate this unseen mechanism of society constitute an invisible government which is the true ruling power of our country. …We are governed, our minds are molded, our tastes formed, our ideas suggested, largely by men we have never heard of…

…In almost every act of our daily lives, whether in the sphere of politics or business, in our social conduct or our ethical thinking, we are dominated by the relatively small number of persons…who understand the mental processes and social patterns of the masses. It is they who pull the wires which control the public mind.”

For men like Bernays the purpose of psychological ops was more about maintaining a certain status quo, with the establishment power brokers firmly in charge but shielded from public view (and anger) as much as possible. The methodology of “shadow government” was constructed in the era of Bernays. However, what started as a tactic for keeping the populace in the dark has now become a strategy for waging war on them. 4th Gen Warfare was born from the mire of public perception management.

You might ask, though, how we are being attacked without soldiers, guns, bombs, tanks or drones? Doesn’t this sound a little paranoid?

In a once obscure internal US Army document titled ‘From Psyop To Mindwar’, the military value of sabotage through 4th Generation methods is described in detail. The treatise outlines the idea of causing a target population to self enslave by undermining its core structures through psychological warfare. The paper was written in 1980 by Lt. Colonel Michael Aquino, a devout satanist, and Colonel Paul Vallely, who would later become a General.

Aquino’s theory was essentially that the US Army was under-utilizing psychological operations as a background to kinetic operations. He argued that psyops could be used as the front line weapon to destroy an enemy nation (or control a domestic population) without the exploitation of standard munitions. As Aquino suggests in a 2003 preface to Mindwar:

“Essentially you overwhelm your enemy with argument. You seize control of all of the means by which his government and populace process information to make up their minds, and you adjust it so that those minds are made up as you desire. Everyone is happy, no one gets hurt or killed, and nothing is destroyed.”

The faux benevolence behind this idea is disturbing.  Believe it or not, this was Aquino’s attempt to “soften” the public’s perception of the document. He lamented the exposure of Mindwar among “conspiracy circles” and spent decades trying to downplay the role of occultism in the upper echelons of the military and the government. It was all a “big misunderstanding” according to the satanist.

Mindwar attempts to disconnect itself from the dark and dirty reputation of propaganda efforts among the Nazis or the Communists. Propaganda is commonly, and rightfully, associated with lying. Aquino admits that the new psyops will be used against Americans, not just foreign enemies, but this time he claims they will use “the truth” to manipulate the masses. And who gets to dictate what the truth is? Well, satanist fanatics like Aquino, of course.

The hypocrisy of Mindwar is evident in its underlying premise – That the establishment will always propagandize using the truth, because that which is a lie today can be made into the truth tomorrow. As Aquino notes:

“Unlike PSYOP, MindWar has nothing to do with deception or even with “selected” – and therefore misleading – truth. Rather it states a whole truth that, if it does not now exist, will be forced into existence by the will of the United States.”

Mindwar as a document is itself a piece of propaganda that can’t help but twist reality to justify the vision of men who seek power above all else. I invite you to read the paper (linked above); nearly every concept described in it is being used against the American people and the western public today. The crooked arguments made in Mindwar are the same exact arguments used by current governments to justify state propaganda and mass censorship of opposing views as essential to security and the greater good.

Not to mention, the woke movement is disturbingly similar in its ideals and goals to the narcissistic religions of satanism and luciferianism that Aquino adores.  I’m sure that’s purely coincidence…

The reason that conservatives and liberty proponents have been at such a disadvantage in the midst of this “mind war” until recently is because we have an OLD way of viewing warfare that assumes a stand-up fight. They point their guns at us and try to control us, we point our guns at them and say no thanks. But not all war is designed to destroy people directly, and some wars are fought in a cowardly fashion in order to avoid direct confrontation.

Mind war proponents would argue that the tactics are similar to guerrilla methods. I would argue they are much more closely related to terrorist methods, and yes, there is a difference.

The globalists know that once the shooting starts they lose the ability to micromanage the outcome and they might become targets. The purpose of psyops is to either terrorize a population into not fighting back at all, or, to shore up popular sentiment through lies and make any potential rebellion as fringe as possible. Hence the reason for funding woke activism and indoctrinating western youth. Given a generation or two, they think they can replace the west by demonizing it in the minds of today’s children. They might never have to fight us at all.

The conflagration goes beyond “left vs right” to be sure – The globalists and their institutions are the root of the disease our civilization faces, and until that cancer is cut out we will never know peace, regardless of which side of the political spectrum comes out on top.

That said, it’s lazy to suggest that this conflict is simply a product of the false left/right paradigm. Leftists truly are a mob army fully supported by the globalists and fully serving their interests. To get to the money elites, we will likely have to roll through the leftists. Either by forcefully removing them from positions of influence over the next generation (which is what some conservative states are finally doing), or booting them out of a state or country entirely. In war, the people trying to destroy freedom no longer deserve the benefits of freedom.

The key to grasping the situation is to accept that a war is upon us. Woke is a psychological operation devised by globalists, and it is currently battling to become the one and only system of thought – A morally relativist system of thought. It relies on a specific circumstance in order to succeed: The idea that men of the west will not take on a fighting posture in the face of psychological attack. As long as we continue to see war only as fighting with guns, we will remain docile in the face of a more advanced cultural bombardment.

For 4th Gen Warfare to prevail the target population has to follow a certain set of rules while the other side operates without rules. They have to be allowed to pursue all-out destruction against their enemy while the other side is admonished for doing anything remotely defensive, including speaking up. But what happens when patriots stop caring about being admonished? What happens when the optics are no longer relevant? What happens when the goal goes from winning in politics or in the halls of public discourse to winning the actual conflagration in front of us?

When this happens, everything in America and the western world will change. For good or ill will really depend on who is left to rebuild once the smoke clears.