“I do not say that democracy has been more pernicious on the whole, and in the long run, than monarchy or aristocracy. Democracy has never been and never can be so durable as aristocracy or monarchy; but while it lasts, it is more bloody than either. Remember, democracy never lasts long. It soon wastes, exhausts, and murders itself. There never was a democracy yet that did not commit suicide. It is in vain to say that democracy is less vain, less proud, less selfish, less ambitious, or less avaricious than aristocracy or monarchy. It is not true, in fact, and nowhere appears in history. Those passions are the same in all men, under all forms of simple government, and when unchecked, produce the same effects of fraud, violence, and cruelty.” – John Adams
Hemingway’s famous quote about going bankrupt connects with so many because it is true on a personal basis and a civilization basis. It applies to individuals and empires in decline – like the American democracy. John Adams realized two centuries ago democracy was no better than monarchy or aristocracy over the long haul. We were handed a Republic by Franklin and his fellow revolutionaries, but we failed to keep it almost from the very birth of this nation.
As we rush towards our World War 3 rendezvous with destiny, aided and abetted by politicians placed in power by globalist billionaires hellbent on the destruction of our way of life, so they own everything and you own nothing, I can’t help but ponder who is to blame and could we have avoided this dystopian outcome.
The United States has been going bankrupt gradually for the last fifty years, both financially, intellectually, and morally. Nixon closing the gold window in 1971 and opening the debt door to morally bankrupt bankers and politicians set in motion a downward spiral accelerating at hyper-speed as we speak.
The American Empire was born in the shattered global debris of World War II with the Bretton Woods agreement, which left the USD as the dominant currency in world trade, specifically as the settlement currency for all oil transactions.
The empire has been sustained by currency supremacy, military might, and until 1980, manufacturing superiority. Once the most highly educated nation on the planet, decades of lowering the bar, less than mediocre union teachers, and replacing education with indoctrination, has created generations of ignorant zombies incapable and uninterested in critical thought.
The road to bankruptcy was very gradual at the outset of empire, with the national debt topping out at $269 billion, 119% of GDP, in 1946. In 1960 it had only grown to $286 billion but had dropped to 54% of GDP. Rebuilding the world and being the dominant economic power paid huge dividends.
After a decade of guns, butter and welfare programs, the debt grew to $398 billion, but continued to drop as a percentage of GDP to 35% in 1971. After decoupling from gold, the national debt soared to $908 billion by 1980, inflation surged to 15%, and Volcker had to raise interest rates to 20% to avert disaster.
What happened over the next forty years was mind boggling in its recklessness, shortsightedness, and acquiescence to the Wall Street cabal. These decade-by-decade increases were obscene:
1980 $908B 32% of GDP
1990 $3.2T 54% of GDP
2000 $5.7T 52% of GDP
2010 $13.6T 90% of GDP
2020 $27.8T 129% of GDP
Today $30.3T 130% of GDP
Rogoff and Reinhart postulated in 2010 that once a country passes 90% of GDP, economic growth slows dramatically, and the chances of financial crisis increase exponentially. With annual GDP growth of about 2% since 2010, their theory has proven accurate. Now we approach the existential financial crisis which could initiate the “going bankrupt suddenly” phase of our empire of debt.
Larry Kotlikoff, Harvard, and Wharton educated economic professor at Boston University, estimates the unfunded welfare liabilities of the United States exceeds $210 trillion. We are a long way from when our Founders handed us a republic.
“American money was never more sound, or banking more free, than 200 years ago. Since then, it’s been a long steady decline from the gold standard and competitive banking to our Fed-run system of inflated paper currency, deposit insurance, and perpetually shaky banks on the dole.” – Lew Rockwell
There is no conceivable way this debt can ever be repaid, therefore it will not. It’s just pure math, which the average dumbed down American chooses not to question or dispute. In their own lives they need to make enough income to make their mortgage payment and car loan payment. It’s the same for the government.
The only way debt obligations can be met is for tax revenue to exceed expenses. Borrowing to make debt and interest payments is unsustainable, reckless, and an example of imperial empire arrogance. The only unknown now is whether the debt is defaulted upon, it is hyperinflated away, or some sort of debt jubilee and currency collapse makes it mute.
No matter the solution, the people will bear the brunt of the pain and drastic diminishment of their standard of living. Those in control will position themselves to benefit from whatever scheme is implemented to eliminate the debt. The current trend of running trillions in deficits per year is unsustainable and already resulting in raging inflation, declining GDP, and pushing the world towards a global depression.
There is no disputing the facts I have presented. These facts trump the willful ignorance of the masses and the false narratives of the ruling class, along with their media mouthpieces pretending all is well. Those controlling the levers of power know this shitshow can’t go on.
They have fully exhausted their propaganda tools, financial derivative schemes, and monetary machinations, leaving them nothing but crashing the system and implementing a Great Reset, which would keep them in control and the rest of us in squalor and subservience.
We’ve been on the road to perdition for a long time, but we came to a peak on that highway in 2019 and the path has been straight down since, with our chariot of fire accelerating at breakneck speed towards its final destination with catastrophe and ruin.
The rise and fall of the American Empire will be far more rapid than the rise and fall of the Roman Empire. With the inept and reckless leadership in place presently, I only hope we still have a nation after they successfully provoke World War 3.
The gradually part of going bankrupt is over. Since the end of fiscal year 2019, our fearless leaders have added $7.6 trillion to the national debt, a 33% increase in less than three years.
Meanwhile, the duplicitous Fed has added $5 trillion to their balance sheet, a 125% increase, while keeping interest rates at zero and creating a tsunami of inflation, crushing the poor and middle class.
But at least the Wall Street bankers are raking in record bonuses, while still sucking at the teat of Fed QE to infinity. The blatant disregard for the lives of average Americans, while propping up the Wall Street cabal, billionaire oligarchs, and corrupt politicians should be met with pitchforks and torches in a just world. But that is not the world we occupy.
The last time inflation was this high (15% as measured in 1980), Volker jacked the Fed Funds rate to 20%. Spineless Jerome Powell has the Fed Funds rate at .33% today. It’s almost as if they are promoting record high inflation to make the national debt load less burdensome.
Destroying the finances of hundreds of millions, creating global energy and food shortages, and instigating World War 3 as a consequence of their actions is just a minor irritation for the global elite. In fact, it appears to be part of Schwab’s Great Reset plan.
At first it seemed outrageous to think anyone would want famine, starvation, energy shortages, economic depression, and global war, but watching the insane decision making of politicians, trumpeted by the Deep State bootlickers in the media, has convinced me this is chapter 2 in their Great Reset book of horrors.
Once you wrap your head around how vile, evil, and demented those who are pulling the strings behind this Great Reset are, your eyes are open to how far they are willing to go to institute their plan. It appears they will stop at nothing, kill as many people as necessary, create maximum chaos and pain, wreck any civic cohesiveness left, and destroy all moral and legitimate norms of society, in order to increase their control, power and wealth on this earth.
They hold all the cards. They control the governments, corporations, banks, legacy media, social media, entertainment industries, military industrial complex, sickcare Big Pharma complex, and the mental processes of the masses through their mind control/propaganda technology. Their hubris and arrogance have reached peak altitude and exuberance. They believe they are invincible. That will be their fatal weakness.
The sheer cavalcade of lies, misinformation, purposely created chaos, engineered conflict, and financial market manipulation, make the daily intrigues confusing and open to misinterpretation. There are various factions competing to control the future course of history.
There is not a clear good versus evil battle underway. Sometimes it is tough to distinguish the New World Order Great Reset crowd from those opposing Schwab and his Davos billionaire satanists.
I know we would like to root for the good guys, but there are no good guys running any country on this earth. Only bad guys, willing to sell their souls, are ever elevated to positions of power. They are selected by oligarchs, not elected by the people. The western propaganda spewing media machine specializes in demonizing those they are paid to demonize (Putin, Trump, non-vaxxers), while glorifying anyone the ruling elite have chosen to use to further their agenda (Zelensky, Fauci, vaxxers).
Putin is most certainly a bad guy, ruthless in his consolidation of power, serious in enforcing his beliefs through political or military measures, and willing to use any means necessary to achieve his aims. But he is only one of many bad men leading their countries across the globe.
The Panama Papers show Zelinsky to be a corrupt puppet of Ukrainian oligarchs. He was a two-bit actor installed by the US, Soros, and NATO to play a role. As a reward, he has millions parked in offshore bank accounts and a $35 million mansion in Florida.
He’s such a democratic icon, he’s spent the last eight years bombing Russian speaking civilians in Donbass and Donetsk, and he outlawed all opposition political parties and media outlets last week. It seems our far-left media outlets have no problem supporting actual far-right Nazis in Ukraine, as long as they are paid to do so. They are nothing but faux-journalist whores.
The fact is Biden, Trudeau, Macron, Johnson, Erdogan, Xi, and the leaders of every country in the world are bad guys. Venezuela and Iran were evil, until our gas prices hit $4.25 a gallon because of Biden’s Russian sanctions. Now Biden is frantically negotiating with these “bad guys” to get their oil. Orwell nailed it seven decades ago with:
“The past was alterable. The past never had been altered. Oceania was at war with Eastasia. Oceania had always been at war with Eastasia.” – Orwell – 1984
We have always been at war with Russia, supporting the noble democracy of Ukraine, and fully supportive of those benevolent dictatorships in Saudi Arabia, Iran, Venezuela, and China when in our economic interest, no matter how many people they kill, imprison, or behead.
Of course, if you don’t toe the line of the petrodollar, you get Iraq’d, Libya’d, or Syria’d. Those in control of the message just move from villain to villain in the their never ending narrative. First Trump, then Covid, then the anti-vaxxers, and now Putin. The real villains are the media and those who manipulate the minds of the masses to achieve their insidious aims.
Hypocrisy is not a characteristic that registers with empires in their late stages. Bribing, bullying, and bombing are what the American Empire does to enforce their waning power upon other nations. The over-the-top sanctions against Russia have accelerated the American decline into bankruptcy, while ignorant Americans remain distracted by their iGadgets, NCAA tournament pools and the latest season of American Idol.
Every conflict is manufactured to benefit the global oligarchs, the military industrial complex, and those seeking to keep the masses enslaved in debt and distracted by technology, entertainment, and hatred towards whoever they are directed to hate by the government/media propaganda machine. It’s always about wealth, power, and control.
The key financial arrangement sustaining the American Empire, even as it internally crumbles from cultural rot, institutionalized corruption, and glorified ignorance of reality, is the global dominance of the U.S. dollar in trade.
This is why the empire’s bankruptcy has been gradual and to many, unnoticeable. But Dementia Joe has accidentally, or purposefully as part of the Great Reset agenda, set in motion the rapid spiral into bankruptcy and collapse of the short-lived America Empire (1946 – 2022).
By creating a global energy crisis over a border dispute 6,000 miles from our shores, with no strategic interest to our country, Biden has initiated the final countdown of the petrodollar as the global settlement currency for all energy transactions. Petrodollar warfare has been the policy of the U.S. for decades as economic imperialism has been enforced militarily against Iraq, Iran, Libya, Syria, and Venezuela.
Trying to enforce this policy against Russia will be a bridge too far. And the consequences are already being felt. Biden’s sanctions against Russian energy are backfiring and will bring an end to the petrodollar regime. Russia is demanding payment from Europe for their oil, gas, and coal in rubles, rather than USD. Any propaganda being peddled about the U.S. filling the gap is nothing but bullshit, as proven by this chart:
This article first appeared in theburningplatform.com