Tuesday, April 18, 2023

Sara Flounders: Imperialist relations are never based on 'trust'

 


Global Times Editor's Note:

The recent leak of highly classified Pentagon documents is yet another proof that the US is the world's No.1 spying empire. Washington spies not only on its perceived adversaries, but also its allies, which puts the US' foreign relations in jeopardy. How will the leak incident affect allies' "trust" toward the US? Will the US spy on its allies more wantonly?

"The US will continue to use every possible form of technology to spy on its allies, its own citizens and its opponents. Imperialist relations are never based on 'trust,'" said Sara Flounders (Flounders), a political writer and activist for 50 years in the US, in an interview with Global Times (GT) reporter Wang Wenwen. Flounders is a contributing editor of Workers World Newspaper and helps coordinate the International Action Center and the United National Antiwar Coalition.

GT: The latest US documents leak shows that the US is deeply involved in the Russia-Ukraine conflict beyond imagination. How will this wave of leaks affect the Russia-Ukraine situation?

Flounders: I would compare it to something called the Pentagon Papers, a leak that happened during the Vietnam War. The reason I say this is the amount of coverage in the corporate media. They can bury a story or give it life. But there may be sections, even in the US ruling class today, who are deeply worried about the disastrous Ukraine war that is really not going well. There might be forces far above high level who want to show this. I understand the documents also cover the "threats" and their plans on China. That's important to know also because it shows that the war plans aggressively go forward with no connection to reality.

There may be forces looking for a way of alerting the population here in the US and worldwide as to just how dangerous and aggressive US plans are becoming. I do remember the explosive impact years ago to the Pentagon Papers as being the first step that began the unraveling of the supported top levels for the war in Vietnam.

GT: With so much monitoring and infiltration into both "adversaries" deemed by the US and its allies, the world is increasingly seeing the US as the biggest spy country. Why does the US conduct mass surveillance not only on its opponents but also on its own allies?

Flounders: The US conducts surveillance on everyone. That means its own population, its own allies, and political competitors. The two political parties, Democratic and Republican, both vote for war, but they spy on each other. It's really cutthroat in every way. As we know in the past, the US spied on and they knew the personal cellphone and connections and understanding even of the French presidents or the German chancellor. They would leak it when it was to their advantage. This is the way they do business.

But surveillance doesn't stop the trends of history. The US can spy on everyone in the world. However, their problem is that China has surpassed the US in the development of its economy. It's a top trading partner of more than 120 countries. They can't change that by spying.

The US is an empire that is fading and decaying. The more it pumps into war, the more it deteriorates in terms of infrastructure and the needs at home. That is an inevitable problem. The only thing they are capable of talking about is war. The only thing that they can use to pump up their economy is military spending. Because that's cheap, quick and profitable. And that exacerbates their problems.

The US is now totally addicted to war, to military contracts, to more and more weapons, and it is having a disastrous impact. You can see what this addiction to war means for working people right here.

GT: How will the leak incident affect allies' "trust" toward the US? Will the US spy on its allies more wantonly?

Flounders: The US will continue to use every possible form of technology to spy on its allies, its own citizens and its opponents. Imperialist relations are never based on "trust." It is extortion, intimidation, and ruthless competition.

The latest leaks confirm that the US is in a state of war with Russia. They control every decision in Ukraine. There is a debate on if these leaks are real. Is it a "disinformation" tactic in hybrid war? I have no way of knowing. However, the amount of publicity in the corporate media on these leaks seems to show an opening debate within ruling class circles on the dangers of the current, reckless US policy.

GT: The highly classified leaked Pentagon documents offer a pessimistic US viewpoint about the state of the war in Ukraine. The Russia-Ukraine conflict has dragged on for more than a year. What factors hinder a ceasefire deal? What lessons can the world draw from it?

Flounders: The biggest factor that stops any kind of agreement is the US determination to continue the war and the US determination to continue the expansion of NATO, as we see just recently the admittance of Finland into NATO. Step by step, the US is determined, even though the effort has failed to lead to the collapse of Russia, which was assured to the members of the EU that if they came along on this agreement, they would richly benefit. Instead, it has been a disaster for the EU countries who had a very productive trade with Russia until this time. And then the destruction of the Nord Stream pipeline, which by agreement of everyone was really a US crime. This means that the determination to continue the war rests with the US.

Ukraine is strictly a proxy. They have no independent decision-making ability. They are totally dependent on US and NATO weapons. They have no ability to continue the war, also without the mercenaries and the outside trainers, contractors, and forces that are pouring in.

US strategy is to try to use this war to deplete Russian resources and expand the war. It's a very dangerous strategy. The force standing in the way and continuing the weapons shipments and the aggressive push comes from the US.

Monday, April 17, 2023

You have no right to know.....

 

 

 

My commentary on this recent Tucker Carlson show on FOX News. I don't care if he is the "controlled Opposition." 

He's at least telling the Truth to millions and millions of Americans, and his show is growing in popularity, far outpacing MSNBC, CNN and other mainstream stenographers for the CIA and US government.  

Watch more on the latest news about the alleged document leaker here

NATO war games: From Europe to the Indo-Pacific

 

 

By Manlio Dinucci (Italy, Grandangolo)

 The multinational military exercise Defender 23, directed by the US Army Europe, begins on April 22nd. The exercise will take place for two months in 10 European countries. 9,000 US soldiers and 17,000 others from 26 US allied countries, with Italy in the foreground, will participate. They will use 7,000 pieces of equipment (armaments and military equipment) shipped from the United States to Europe, plus another 13,000 pieces of military equipment from US Army depots in Europe. 

Finally, in June, a major air warfare exercise will take place in Europe with US and allied fighter-bombers with dual conventional and nuclear capabilities. While Europe is being transformed by the USA into a training ground for the war against Russia, the Russian strategic missile forces are enhancing their combat capability with the test launch of a new intercontinental ballistic missile that can be armed with multiple nuclear warheads.

At the same time, the USA is increasing its military forces deployed in the Indo-Pacific, the region which, in the geography of the Pentagon, extends from the west coast of the United States to the coast of India. The central objective of this escalation is China, which Washington increasingly fears for its political and economic initiatives, especially today in the Middle East. The headline of the Washington Post is emblematic: "China's new world order is taking shape". Despite the US attempt to isolate China, French and German entrepreneurs are closing big contracts in China.

 



Italy, on the other hand, is preparing to send the Cavour carrier with US F-35B fighters on board to the Indo-Pacific, de facto under US command in an anti-Chinese function. Italy also enters the Indo-Pacific with an important agreement concluded with Japan and the United Kingdom: Global Combat Air Programme, the Global Combat Air Programme, for the construction of a sixth-generation fighter. 

Since it will be a nuclear attack aircraft, the Program will allow Japan to become a de facto nuclear country, as is Italy equipped with nuclear weapons by the USA. The Global Combat Air Programme will cost tens of billions of dollars before the new fighter enters service.

Sunday, April 16, 2023

Topsham protest on Saturday huge success

 












 

 

 


 

We had 47 folks from all over Maine turn out yesterday in Topsham. 

They came from Hancock, Deer Isle, Belfast, Waterville, Dover-Foxcroft, Harpswell, Brunswick, Bath, Portland, New Sharon, Rockland, Winslow, Augusta, Camden, Guilford, Kennebunk, Freeport, Union,  Falmouth, Solon and Madison. (Likely missed a town or two.)

Very busy traffic intersection - got lots of support from the cars going by. Honks, waves, thumbs up, peace signs.

Many working class people responding in the affirmative.

Only saw one middle finger - thru the sun roof of a car.

Thirteen of us went for lunch to local restaurant afterwards for more talk. One who sat next to me is a disabled Iraq war veteran, never been at a protest before. He had lots of questions.

More new folks came out - some who heard Lisa Savage live on Jimmy Dore show on Friday night promoting the event.

Our next statewide protests will be May 6 in Portland at Woodford's Corner (busiest intersection in Maine) and then again on May 20 in Belfast on Rt 1 at Hannaford grocery.  More details soon.

Younger people are turning out because they see that our message is real - not half-stepping. We are telling the truth about US imperialism and disinvestment of all things good at home. Washington's suicidal plan for war with Russia and China must be stopped now!

We are not blaming Russia for a war they got boxed into. The US-UK-NATO has been planning this proxy war using Ukraine as a tool for many years

Build it and they will come. 

Bruce 

Zelensky's cake walk....

 


Seymour Hersh reports
Z-man (and his top cronies)
from the zillions flowing in
from the western minions. 

Call it
very organized crime.

A well paid gig
I must admit....
but how do you
live with yourself?
 
The coke,
Flake
Snow
Big C
Coca
Charlie
Blow
Bump
Wooly
Nose candy,
must help.

Z-man will win
says the TV talking heads
(well-paid they are too).
Russians will fold
once the counter-offensive
begins. 

Who is leaking
the Ukraine failure
story?
 
Biden's own CIA?
A young 
Air National Guard troop
with unlikely access
to such documents?

Look out for more
censorship
of social media.
 
The public has become
the enemy.
 
Just ask Macron
as the French
tear down the 
modern monarchy.

The walls are burning
from public rage,
the ground is shaking
in anticipation
of Biden's hand
on the kill switch.

From the ashes
Wall Street and Langley
would proclaim
glorious victory. 

I shake with sadness,
sorrow, disgust,
fear
and pure anger.
I've been duped, lied to,
had my mind washed,
Frontal lobe to the
Cerebellum. 

I want out
of this corrupt,
corporate prison
of the heart and soul.
 
Bruce 
 

Sunday song

 

 


Saturday, April 15, 2023

Hungarian Peace Forum defends the government against Washington

 


The Forum for Peace movement defends the Hungarian government's peace policy against the American war policy. In its statement published on behalf of five political and civil organizations, the Peace Forum assures the government of its full agreement not to allow our country to go to war. 

We reject with indignation the increasingly harsh interventions of the United States of America in our internal affairs. Our main NATO ally wants a pro-war government in Hungary. He would like us to deliver weapons to Kiev, to allow more NATO soldiers to be stationed in the country, and if necessary, to take up arms in defense of American interests. 

They started a poster campaign to try to dissuade the Hungarians from their pro-peace and to make them fall in love with America's war in Ukraine. While 80 percent of our energy supply comes from Russia, Ambassador David Pressman demands that we sever the Russian connection. 

The American government sanctioned the managers of the International Investment Bank legally operating in Hungary, including a Hungarian. 

The Jogállamért Egyesület (Association for a State of Rights), the Magyar Békekör (Hungarian Community for Peace), the Hajrá Magyarok egy szebb jövőért (Association Go Hungarians for a brighter future), the Magyar Antifasiszta Liga (Hungarian Anti-Fascist League), and the Munkáspárt (Workers' Party), the Forum's member organizations state in their joint statement: Hungary wants to live in peace. 

In order to protect its peace, it is essential to stand up for the government's peace policy against the war policy of the USA.

Budapest, April 15, 2023.

Protest at Australian Nuke Sub Port

 

 

Consortium News

Australians against deployment of nuclear submarines in their country protested Tuesday at the port where the AUKUS subs would be docked if Australia goes ahead with the A$368 billion plan.

Under the AUKUS plan, Australia would pay the U.S. and Britain to the build and deliver three nuclear submarines by the early 2030s to the Port of Kembla in the city of Wollongong, 85 kms south of Sydney. Opponents of the plan, including the former Prime Minister Paul Keating, say China poses no military threat to Australia, but rather that the U.S. is leading Australia into a dangerous provocation against China.

Thursday, April 13, 2023

Back on the street in Topsham, Maine (Saturday, April 15)

 

 
Stop funding U.S. proxy war in Ukraine against Russia- $113 billion so far

    
UNAC (United National Antiwar Coalition) has called for groups around the nation to build strong local and regional actions during the week of April 15 – 22.

People from many political parties and tendencies will be with us in Topsham at the corner of Routes 196 and 201 from 1:30 pm. (Lee Toyota is on one of the corners.)

Current sponsors in Maine are: 

PeaceWorks of Greater Brunswick; Maine Natural Guard; Maine Green Independent Party; Communist Party of Maine; People's Party of Maine; Global Network Against Weapons & Nuclear Power in Space; Maine Veterans For Peace

Join us to uphold our coalition demands:


  •     Peace in Ukraine - No weapons, no money for the Ukraine War
  •     Abolish NATO – End U.S. militarism & sanctions!
  •     Fund people’s needs, not the war machine!
  •     No war with China!
  •     Protect Earth's environment from the deadly insult of war!
  •     End U.S. aid to racist apartheid Israel!
  •     Fight racism & bigotry not war!
  •     U.S. hands off Haiti!
  •     End AFRICOM!

 

Call 207-844-8187 for more info. 

Space Alert interview: Albuquerque, New Mexico space activist

 

 
 
Bob Anderson begins this Space Alert interview saying he is an Eastern Tennessee Hillbilly who never finished high school due to having to work in order to help his family get by.
 
He joined the Air Force and was sent to Vietnam and Laos on top secret missions. It was this time that changed the course of his life like many other veterans.
 
After college Bob got involved with Vietnam Veterans Against the War (VVAW) and it was while working with that organization he heard about the 1973 American Indian Movement (AIM) occupation of Wounded Knee, South Dakota. Bob tells how he and other VVAW members jumped into their cars and drove to Wounded Knee and joined the occupation during a fire fight between the US government (FBI, ranchers and their hired goons) and AIM. 
 
He stayed there for 71 days.
 
In February of this year there was a 50 year reunion at Wounded Knee that Bob attended. He tells that story as well.
 
Finally Bob discusses his work with a group called Stop the War Machine where he lives today in Albuquerque, New Mexico.
 
He's long been a board member of the Global Network Against Weapons & Nuclear Power in Space and shares how Kirtland AFB in his city is a key research center for space weapons development. Kirtland specializes in space war-fighting laser weapons among other new directed-energy technologies.

African leaders standing up

 


 

Wongel Zelalem reports on South African Foreign Minister calling out the hypocrisy of the International community.

Wednesday, April 12, 2023

Solidarity with people of Philippines

 


 

Hundreds of activists gathered on Tuesday in front of the Armed Forces of the Philippines (AFP) headquarters in Quezon City, a suburb of Manila, to protest against a series of Philippines-U.S. joint military exercises launched the same day.

BAYAN USA is hosting "Shoulder to Shoulder in Solidarity: A Teach-in on US Militarism in the Philippines" to mark the start of the Balikatan Exercises, joint military exercises between the US, Australia and the Philippines.

🗓Friday, April 14
🕗 5pm PST, 7pm CST, 8pm EST (2 hours)
💌 RSVP at tinyurl.com/apr14teachin

Participants will learn about the current situation in the Philippines, the history of unequal military agreements, and the broader US military strategy in the Asia Pacific. Join us and be in solidarity with the struggle of the Filipino people!

This public webinar is part of the "No to Balikatan War Games! US Out of the Philippines” National Month of Protest. Learn more about the National Month of Protest here: https://www.bayanusa.org/balikatan-2023/  

Visiting the House of Peace

 


 The House of Peace provides physical and spiritual shelter to victims of war in a small healing community in companionship with adults with special needs, and provides education for peace and moral awakening.

 

On Sunday Mary Beth and I drove to Ipswich, Massachusetts for an overnight visit with friends John and Carrie who run the House of Peace.

John and Carrie Schuchardt co-founded The House of Peace in 1990. During these 33 years the House of Peace has welcomed more than 500 refugees from 30 countries, including Haiti, El Salvador, Vietnam, Cuba, Ethiopia, Eritrea, the former Yugoslavia, Afghanistan, Pakistan, Iraq, Somalia, Sudan, the Congo, and Syria. Also during these years war burned and maimed children have stayed at the House of Peace while they were able to receive treatment from Boston-area hospitals.

John Schuchardt was a US Marine Corps officer (1960-65), a member of Veterans for Peace, and participated in the ‘Plowshares 8’ and ‘Avco Plowshares’ actions. John was imprisoned for the attempted disarmament of Mark 12-A nuclear warheads. 

They were members of peace delegations to Israel-Palestine, Iraq, Nicaragua, Auschwitz, Vietnam, Iran, Hiroshima-Nagasaki, and Okinawa. John and Carrie visited Moscow, Crimea, and Saint Petersburg, Russia in 2019 as participants in the study tour organized by the Global Network Against Weapons & Nuclear Power in Space.

 


 

While at the House of Peace MB and I met two women from Egypt who are now receiving medical treatment. In addition two former Afghanistan translators for the Pentagon (now refugees) told us their harrowing stories of escape from the madness of their home nation as the US made a chaotic pull-out from its misbegotten war.

One of the men, and his wife, were transported out in a jam-packed Air Force cargo plane that saw people clinging to the wings as it took off. The other, clearly suffering from trauma, shared his story of leaving Afghanistan and ending up in Brazil. From there he made a 12-nation trek through Latin America barely making it to the US where he safely landed at the House of Peace just days ago.

During the visit John and Carrie took us for a beautiful spring time walk on the local beach where we talked politics and heard many stories about their remarkable work at the House of Peace.

The House of Peace website states, "John and Carrie are surrounded by the gentle wisdom and boundless warmth of an often invisible community of volunteers, donors, and supporters. With deep trust in the future and boundless gratitude for the encouragement of friends near and far, in companionship with all 'wounded healers', their hearts break in atonement for a century of violence and in hope for a great awakening to the promise of peace."

Bruce 

Tuesday, April 11, 2023

Carving up China

 

Click on image for bigger view


Artist: Henri Meyer 

The great powers of Europe, brandishing knives, competing to carve up China: Queen Victoria, Kaiser Wilhelm II, and Czar Nicolas II. Marianne of France looks on, supporting her Russian ally. Japan contemplates what move to make, while a caricature of China is dismayed but powerless.

From a scholar at the University of Michigan, I have learned that a "gateau des Rois" is a specific type of cake baked to celebrate Epiphany (both the day and the season), when the Three Kings arrived at the manger and paid their respect to baby Jesus. The gateau des rois, or galette des rois, is baked with a token inside it, and whoever finds the token is "crowned" king or queen for the day. The specific day of Epiphany is variable but falls in early to mid January, consistent with the publication date of this work on January 16, 1898. So, at a time when France is celebrating Epiphany, the  French artist depicts China as an Epiphany Cake, with all the Great Powers hoping that their piece of cake will have the token and they will be the dominant power in China.

Even today the European powers, along with the US, have not given up on this 'project'.

Source: Le Petit Journal, January 16, 1898

Monday, April 10, 2023

Protest at Holloman AFB in New Mexico

 


Holloman is the largest drone training base in the country: 700 pilots and operators graduate ANNUALLY!

Dems war against the peaceniks

 


Members of the Bronx Antiwar Coalition respond to Rep. Alexandria Ocasio-Cortez's smears. 

After hosting a job fair which featured military recruiters, AOC falsely attacked protesters – including local Bronx school teachers and workers – as outside agitators who put her life in danger.

Sunday, April 09, 2023

Basketball as foreign policy: DC über alles

 

This particular player from Japan was taken as a high pick in the annual NBA draft. A big deal was made about Washington selecting him and exhibition games were played in Tokyo. But after several years of disappointing performance he was traded for a player who was a throw-away guy and has no future in the league.

 

I was born in the state of Maryland. Because I grew up in a military family and moved all the time the sports teams in Baltimore (baseball Orioles, football Colts and basketball Bullets) became my hometown so to speak.

I gave up on pro football in 1983 when the Baltimore Colts snuck out of town one night during a snow storm and moved to Indianapolis. 

The Orioles have had some good years, won a few championships.

The Baltimore Bullets moved to Washington DC in 1974 and won their only NBA title in 1978.

In 1998 they changed their name from the Bullets to the Washington Wizards. They have mostly been losers since that time.

The Wizards have lately been drafting inferior players and made a big effort to sign or trade for players from foreign nations. Only in the last few years did I figure out what is going on with this basketball team.

Wizards became the NATO franchise

During the past 10 years the Wizards have made it their priority to secure players from NATO countries.  Some are from NATO member nations and others are from NATO 'partner' nations. Here is a current list of countries during this period where players on the Wizards hailed from. Some nations have had multiple players on the Wizards during this time.

 

  • France (2 players) NATO member
  • Germany (2) NATO member
  • Czech Republic (2) NATO member
  • Latvia (3) NATO member
  • Poland (1 player who is now assistant coach) NATO member
  • Australia (1) NATO partner
  • Israel (1) NATO partner
  • Japan (1) NATO partner
  • Ukraine (1) NATO partner
  • Brazil (1 during the time of right-wing Balsonaro government)

 

I have come to believe that the neo-cons essentially run the Washington Wizards. Their role is not to be a truly competitive pro basketball team but instead their job is to virtue signal to NATO allies. The logo at the top of this post says it all for me - Washington 'above all'. Do you notice the similarity to the WW2 Nazi slogan 'Deutschland über alles' ('Germany above all')?

Even the sports press has regularly noted something is not quite right about the Wizards. The club just doesn't seem that interested in getting any better.  

The Athletic recently reported, "The conventional wisdom throughout the league is that the Wizards are stuck in the middle, nowhere near good enough to contend and not bad enough to secure a franchise-changing player early in the draft."

It is thus my contention that the real priority of the team's ownership and management is to continually secure more players (even if they are mediocre) that help to 'sell a positive relationship' between Washington and the people of a particular NATO allied nation. 

During this time of US collapsing empire, Washington neo-cons are using every political, social and cultural tool available to promote the 'wonders of America'. It's all about image.

An example, toward the end of the current regular NBA season the Wizards signed a 27 year old (which is considered a bit old) player from the Australian pro basketball league to a multi-year contract. Now why would they do such a thing for an unproven player at the NBA level?

AUKUS is the answer. The US has created this Tripartite Pact between Australia-UK-US to deploy submarines in Australia that would assist US-NATO in controlling China's shipping lanes in the South China Sea. There has not so far been large opposition to this inside Australia but the movement is slowly building. This aggressive military pact makes Australia a certain target in a war with China - something that Washington increasingly threatens

So Washington has a huge interest in blunting any movement inside Australia (which is a NATO partner) that would oppose AUKUS. Thus this small gesture of signing a mid-level basketball talent to the Wizards is just one more card that gets played in Washington's imperial game of influence peddling.

Looking at the list above it is easy to see how the US-NATO proxy war in Ukraine could be aided domestically and across Europe with the stacking of the Wizards with players from Poland, Ukraine, France, Germany, Czech Republic, and Lativa over time. It's about building trust and support for the US war machine.

Same goes for the Israeli player on the Wiz. It shores up the US-Israel military alliance. Last year virtually every time this player scored a basket the announcer for the Wiz would yell out, 'The Israeli'!

While watching a Wizards game last week I noted with great interest a segment they aired before the game started where a former Wiz player from Poland (now serving as an assistant coach) made an effort to locate a former Wiz player from Ukraine who was playing on the opposing team. They shook hands, hugged and the Polish Wiz coach gave him the 'Slava Ukraini!' verbal salute which means 'Glory to Ukraine'. Lots of warm fuzziness for sure. Nazis in Ukraine loved it I'm sure.

In that made for TV moment Wiz fans across America and around the world were once more inundated with Washington war propaganda. Sports broadcasts are routinely used to promote the message of 'DC über alles'.

Why do I keep watching? Two reasons. First, I love basketball. Secondly, I am doing research for my blog. 

I'll keep you posted.

Bruce 

Sunday song

 


 


Saturday, April 08, 2023

The Fed's weaponization of the US Dollar: Giving big banks the ultimate safety net

 


 

By Capitalist Exploits
Chris MacIntosh


With the Fed backstopping big banks in the US, why would you hold capital in banks offshore?

Imagine you’re a multinational with global banking. What do you do? I’ll tell you what you do. You de-risk and shift your capital into these “systemically sensitive” US banks. That means banks outside of the US see capital flight.

Money pulled from Eurozone banks at record rate in February

Actually, the article linked above does a shoddy job of explaining what’s really happening. They blame the withdrawals on a host of things, few of which are actually relevant. The main cause is that described above.

This is why the crisis immediately hit European banks with Credit Suisse going tits up in a hurry. Granted, they’ve been on life support for God knows how long, but the point is that the Fed will have known all of this would take place. They’re not stupid. They knew full well what their actions would lead to. Now, take a look at European bank stocks. It’s like watching a horror film.

And those European bankers aren’t too happy. They, too, aren’t stupid and now they’re calling out the Wall Street bankers.

    European financial regulators are fuming at “incompetent” US counterparts over SVB. For 15 years they attended “long and boring meetings” where everyone promised to do exactly the opposite of what the US just did when crisis struck.

Of course they are. They know they’re being rolled by the Wall Street banks, who are now eating their lunch and laughing while they lurch about and die.

So there is an international financial war taking place. All wars are bankers’ wars. Remember that.

Outside of that, ultimately the Fed has a problem here as Ben Rickert of “Big Short” fame tweeted.


Too right. One thing I’d add to Ben’s commentary is this…

None of this “fighting inflation” BS is about doing so. It is a carefully orchestrated plan now unfolding to destroy many foreign banks and to consolidate financial power in the US banking system. From a geopolitical and certainly historical perspective, this is what happens as empires collapse. They see their dominance waning and always attempt to bolster the core while lashing out destroying those they can in order to shore up this core. As for the story the peasants get sold on inflation… pah.

This is like rubbing your tummy while patting your head. Try it, I dare you. You, or should I say, the central banks can fight inflation or bail out the banks. Not both.

So in the short to medium term, anything can happen, including a panic trade fearing demand destruction. In the long term, the elephant in the room (sovereign debt) just ate another baby elephant (US banks’ default risk).

This is the same reason that the banking crisis is not a one-off. It will shortly become a giant sovereign debt crisis, and then there is nobody to bail anybody else out.

When that day comes — and it’s closer than ever — you’ll want to be damn sure you’re far from the blast zone, because the sheer size of this is likely to bring down governments and cause mass civil unrest.

Unfortunately, this is known… which is why it becomes ever more probable they take us to war in order to deflect the blame, reset the debts, and retain control.

It’s unlikely to work, and even if it did, the results regarding bonds are the same — a wipe-out together with pension funds, which will bring down insurance companies, their annuity programs, and usher in a monetary crisis for the record books.

And yes, I know this all may sound rather radical and dramatic, but please realize this is just looking at basic maths and understanding cycles of history, thrown in with a sprinkling of a lifetime of studying the psychology of markets. I wish it wasn’t so, but hope is a shitty strategy for managing our money, so…

Surrender to the king!  

~ See economist Michael Hudson's comments on the coming economic changes here