In ‘The True Believer’, Eric Hoffer said that ‘mass movements are created not by the working class, because they are too busy working, but by the wealthy and bored who need something to pursue’. This certainly seems true with people today like Gates, Soros, Klaus Schwab, and the tech titans who are using their powerful resources to reshape society according to their own idealistic daydreams. But the statement really only pertains to those times when society is operating fairly calmly and stably. Both the working class and the powerful will organize and rise up at times when they find themselves getting backed into an ever-tightening corner. And this is why the leaders of many governments have thrown-in with Schwab’s dream vision of a one-world green utopia for the elites – which happens to rely on economically enslaving the common people under communism. They have done so because with their spending they have all boxed themselves into the ever-tightening corner of a huge pan-national sovereign debt crisis. Once the people realize that all of their promised government-‘managed’ social benefits (retirement, medical and others) have been recklessly dissipated, they will revolt. These politicians have betrayed their social contract with the people, and have no way of maintaining their power in the face of their coming uprising other than to forcefully subjugate them first.
So-far most of the architecture of oppression and control has been weaved gradually and incrementally to prevent the general public from becoming alarmed enough to turn and fight it. This has been done by means of tricks like the intentionally-created Covid health panics & their economically-destructive lockdowns and the reconstitution of our police forces. The destruction of civil order in the urban areas with the tacit acceptance of riots and steadily-rising crime serves not only to destabilize and divide, but also as a rationale for instituting a future standard of more stringent (possibly federalized) policing of everyone living in those cities. But we just saw real naked forceful subjugation come out openly. So we are now at the point where the people will either choose to rise and firmly stand-up against it, or allow the boot of tyranny to drive their faces deeper into the mud.
Two devices have been in-play to gradually gain suasion of the population towards Marxism: One is indoctrination (or programming) of the young via their K-12 through college educations. The other is mass in-migration of poor unskilled people who are coming to the US precisely for what socialism promises them: free handouts from the government. There are rumors that the Biden administration intends to take action by the end of 2022 to enable all these newcomers to vote.
The first real concerted countrywide stand made by the people against the changes being gradually foisted on them came, not surprisingly, from parents going after the school boards after learning that their kids are being taught to hate each other, themselves, their country, and to reject ‘traditions’ like binary sexuality and religion. Doing-so is the right of every one these parents: they pay for the schools, they elect the board members, and per the law they can demand that they teach their children only educational programs that they give their approval to. The government’s response to this first firm and widespread resistance to its social agenda has been to drop any mask of decency and to crack down on it unconstitutionally with force. For the attorney general to mobilize the FBI against parents who are rightly and legally objecting to the schools teaching critical race theory to their kids is beyond the pale. Labeling them as ‘domestic terrorists’ guilty of committing some unspecified and completely fictitious threatening actions against school board members is mendacious hyperbole-as-propaganda. Merrick Garland has shown himself for the thug that he is.
Working people have enough pressure just maintaining their personal responsibilities. However it’s important now to devote some energy and time to public action as well if we want to keep (at least a portion of) our freedoms and standard of living. In this case, contact your local police force and tell them that you demand that they refuse to meet with the FBI regarding the implementation of this anti-parent action. Remind them that it is their own interest to maintain control over their local policing authority rather than to allow themselves to be conscripted as toadies for the FBI and its political bullying agenda. Local policing should remain under local control and never under the control of the federal government. Tell them that you will be watching and that if they should meet, it should only be in a public forum with news reporters present. The police have been unjustly demonized by the left now, so for them to take actions that justly cause the public to distrust and resent them serves noone except the federal totalitarians continuing their power-grab. They are open about it now, in hopes that they can gain full control over us before any actions we take against it are enough to stop them.
Now that government’s abuse has become overt and open, we can expect to see it step on the gas pedal now with its power-grab, and we will soon get to see how the markets vote on all of it. Where capital moves to and from reveals the places that international market participants have greater and lesser confidence in, and these global capital flows cannot be manipulated or falsified by any actor, including governments. There is fake news but there are no fake markets. These will be difficult and unfamiliar economic waters to navigate. Confidence in government is collapsing everywhere and the markets will respond in a way that none of us has seen before. We now have both deflation and inflation at work, and a gargantuan monetary crisis in which governments can no longer fund themselves, and are playing new games to keep themselves empowered.
The dollar remains the primary harbor for capital but that may change over the next couple of years. Volatility strategies and even tail-capture strategies like those used by the Long Tail Alpha and Universa hedge funds may be well-positioned for this period. The Chinese economic crisis that people like Kyle Bass have been expecting for some time could mitigate some of the CPC’s expansionist aggression, but its behavior will likely depend to a large degree on how the Chinese people accord with their government now, which has recently become more economically restrictive in order to maintain tighter control over them. The CPC could conceivably chose to attack Taiwan sooner than later in order to drum up nationalism.
Time is running short for governments. In the UK, pension funds will run out of cash next year. There has been talk of nipping private 401k and IRA funds to help bail out public debt. There is a mandate in the $3.5 Tr reconciliation bill for small businesses to direct 10% of salaries into forced retirement accounts that, for now, go into select IRAs but will go into federal debt. This seizure of private pensions funds began in states like California and Illinois and will continue to expand. There is a motion underway to eliminate Roth conversions. Another desperate idea floated is to impose an 8-cent per mile driving tax (why not just increase the gas tax ?), and we will soon see what effect taxing unrealized capital gains will have on investment interest in the US markets. The government went from snooping on all bank transactions over $10,000 down to all those over $3,000, and now they will look at any over $600. It is interesting that bank reserve requirements are now zero. This aligns with the intel I’ve reported that government leaders intend never to bail out any brick and mortar bank again, preferring to let them fail and for the tech giants to takeover the dispensation of electronic money and banking for them.
The gradually-increasing restrictions on your money are now speeding up. Economically debilitating people is a bad plan for the future prosperity of a country, but it serves the aim of getting everyone dependent on UBI and under government’s control. Since the fed has embraced MMT, this seems the likely reason why they just don’t continue to print money and forget about predatory taxation. Things are getting very insane. Expect markets to as well. Its impossible to tell exactly how much of what the US government is doing now is coming from deep inter-state directives and how much of it from the incompetence and mental deterioration of Biden. But the former is surely the dominant driver; Biden is the perfect puppet who does what he is told – because he cant do much else. He just became the first president to have a faux office constructed just so that he can be efficiently coached and scripted on what to say from off-camera. In the 2020 election campaign, there were multiple incidents where he didn’t know what city he was speaking in, but his supporters didn’t let that bother them – then.
Although cryptos are an appreciable component of the US economy, that may change soon. An Oct. 4 article by Felix Salmon in the Wall Street Journal echos what I’ve been relaying here for over 2.5 years about federal e-money. It reports that the fed is now conducting a review on instituting a federal CBDC and outlawing existing cryptos. The article notes that this would force all money into the CBDC, enable the government to see all your transactions, and to slowly confiscate your money by imposing negative interest rates on the accounts where it remains captive. As I’ve mentioned, this also enables the feds to ‘haircut’ your account, and conceivably even turn off your money if they label you a sufficiently dangerous domestic terrorist. Anyone working in the crypto space now should be very watchful for new policy developments.
We’re at the point where they will either irretrievably tighten the noose in the next 2 years, or the people, many of whom are now awake, will stand up. In either case we are looking at some sort of monetary reset because the sovereign debt load is just too onerous. At some point the markets will reject treasuries, interest rates will rise despite all the efforts to keep them floored, and the annual servicing cost on the (presently) $23 Trillion national debt will become unserviceable. Risk management has an entirely new priority for both institutions and individuals: government risk. It is a serious risk not only to your finances, but also to your personal rights and freedoms, and there is no passive hedge for it. You either fight against it or get ready to take your beating.