Globalisation, Davosocracy and The Peoples’ Pushback

French writer and political philosopher Renaud Camus, who found fame (or notoriety perhaps,) as the first academic to propose the theory of the “Great Replacement (link goes to French language video),” aired his thoughts to news reporters about the wave of riots and civil unrest that has rocked France over the past two months, giving his opinion that the recent “Yellow Vest” protests are a grassroots reaction against the Davos elite who view working people as worthless “human Nutella.” (i.e. cheap, low grade products.)

Mr Camus warned there might be more substance to the Gilets Jaunes (Yellow Vests) movement, which organised the protests and, according to polls, is supported by 77 per cent of French people , than just dissatisfaction over a rise in fuel taxes, saying it was really about a “lack of respect by governments for the prople,  being treated by managerial politics like an object, a simple product.

“A product, a producer, and a consumer all at once, a thing, a number, not a human being,” Camus said, echoing his view that the elite do noy see the masses as people, individuals with ambitions, concerns and their own intelligent view of the world. This attitude, he claims, is how elitists justify to themselves the destruction of communities as entire industries have been relocated to low labour cost economies, leaving behind what is usually described as ‘the gig economy,’ but which some have described as the ‘waiters and bartenders economy,’ because of the low quality and often part time work available to people rendered redundant as work has migrated east and south, while low skilled, poorly educated multitudes have migrated north and west.

Excoriating the globalist elites, whom Camus refers to as the “Davocracy,” an allusion to the annual World Economic Forum meetings in the Swiss town of Davos, where the rich and powerful arrive in their private jets to meet, enjoy fine foods, rare wines and high class prostitutes and make decisions like the one that is leading to the replacement of educated, intelligent Europeans who ask difficult questions with uneducated, illiterate third world immigrants who can easily be bought with free stuff, Camus claimed the global elites were advocates of the “Great Replacement” saying they supported “the change of people and civilisation for the sake of the industry of man, the economic system which produces the Undifferentiated Human Matter, the human Nutella, spreadable at will.”

Harsh words from Camus, but they contain more than a grain of truth one suspects.

The theory of the Great Replacement, which Camus states. not only refers to mass migration but to the easy and efficient interchangeability of goods as well as peoples (aka the throwaway society,) has been referred to by several prominent French figures including the Mayor of Béziers Robert Ménard, the Archbishop of Strasbourg Luc Ravel, and conservative politician Nicolas Dupont-Aignan.

Hungarian Prime Minister Viktor Orban has also made numerous references to a replacement of European people through migration, and has been widely attacked for his views by Cultural Marxist leaders leaders such as Barack Obama, Angela Merkel and Emmanuel Macron.

More recently, the French department of Mayotte, an island off the coast of Africa, highlighted the “replacement” of their indigenous peoples due to wave upon wave of illegal migrants in recent years. The first European outpost to be totally swamped by illegal immigrants might have been the Italian island of Lampedusa, had the nationalist coalition of Lega and Five Star not dealth a crushing defeat to the neo – liberal consensus parties of the Italian establishment in last years election.

It is happening in mainland France, Germany, Britain, Sweden, Netherlands, Belgium, and Spain. Only Italy, Hungary, Austria and Poland have so far shown and will to resist.

The developed world’s political and business elite, who roll up every year to attend the annual World Economic Forum (WEF) jamboree in Davos, Switzerland, are actually beginning to admit their push for globalisation and open bordershich with the help of leaders like Angela Merkel, Barack Obama, François Holland and hs successor Emmanuel Macron, have contributed to the worldwide populist backlash and the rejection of the mass integration and multiculturalism project, the aim of which was to create a global monoculture.

Harvard professor and former chief economist of the International Monetary Fund Kenneth Rogoff told Bloomberg that following WEF 2016 he “started to grow concerned” then-candidate Donald J. Trump would be elected president of the U.S.A. because the consensus among attendees of the elite gathering Mr. Trump could not possibly win.

“A joke I’ve told 1,000 people in the months since attending that years World Economic Forum is that the conventional wisdom of Davos is always wrong,” wisecracked the former IMF chief who is scheduled to attend Davos again this year along with some 3,000 other members of the political, business, media, and academic elite, most of whom are the same people that so confidently agreed Trump could not win the 2016 Presidential election.

“No matter how improbable, the event most likely to happen is the opposite of whatever the Davos consensus is,” he added.

Davos also failed to predict the rise of populism in Europe, Italy’s rejection of constitutional change that led to the resignation of Prime Minister Mattheo Renzi, or the UK voting to leave the European Union (EU) which Forbes described as the “populist revolt against Davos Man”.

“Davos Man” was coined by political scientist Samuel P. Huntington who described “these transnationals” as “[having] little need for national loyalty, view national boundaries as obstacles that thankfully are vanishing, and see national governments as residues from the past whose only useful function is to facilitate the elite’s global operations”.

One of the eight Oxford University academics set to attend the meeting, Ngaire Woods, dean of the Blavatnik School of Government, said, “There has to be some humility. For 30 years the elite have said, ‘We’re managing globalization, and we’re making it work for everyone’.”

“They cannot just keep repeating that,” added the frequent Davos visitor.

However, WEF founder Klaus Shwab has alleged that globalisation was an “easy scapegoat” for world angst, and argued that populism wasn’t the answer, saying, “We cannot just have populist solutions”.

With populism high on the agenda at Davos, one of the sessions will include a panel of psychologists offering thoughts on “cultivating appropriate emotions in a time of nationalist populism”.

Managing Director of the IMF Christine Lagarde, who was found guilty by French courts in December 2017 of criminal negligence in a case concerning the misappropriation of funds, said she wanted to “rehabilitate the appearance of globalism”. She said she wanted a “move toward globalization that has a different face, and which is not excluding people along the way”.

Lagarde will be chairing a session at Davos entitled: “Squeezed and Angry: How to Fix the Middle Class Crisis” along with hedge fund billionaire Ray Dalio. Days before the EU referendum vote, the French lawyer belittled Brexit voters by implying they were small-minded, called for a “united Europe”, and launched a report claiming a ‘Leave’ vote would lead to half a million job losses.

Also anticipated to attend the exclusive conclave is billionaire open borders activist and founder of the Open Society Foundations George Soros, who admitted involvement in engineering Europe’s Migrant Crisis, called national borders “an obstacle”, and has financial ties to the W. K. Kellogg Foundation.

Other notable attendees include a dozen members of the European Commission including Trade Commissioner Cecilia Malmström, who responded,“I do not take my mandate from the European people” when asked a question by a poverty campaigner regarding the unpopular (and now abandoned,) Transatlantic Trade and Investment Partnership (TTIP) deal between America and the EU, which was opposed by millions of Europeans.

The World Economic Forum (or the junior Bilderberg Group as some call it) held their annual jolly conference at the exclusive Alpine resort of Davos-Klosters where it will cost you €20 (about$22) for a cup of coffee because the locals have to keep chavs out somehow. Two thousand five hundred politicians, celebrities, and business leaders from all over the world gather every year for this “Bilderberg style” meeting. The delegates include 53 people who own as much wealth as the poorest half of the world’s population and representatives of over 1,000 of the multinational corporate businesses all of which are on record as supporting global government and open borders.

One of the most significant discussions held at this year’s Davos powerfest concerned the growing disconnect between middle and working class citizens and the power elites. Everywhere in the world one looks, citizens no longer trust their governments or the legal, medical and academic professions, the science & technology community, finance and the mainstream media:

“If this growing disconnect between governments and citizens is not fixed rapidly, there can be no legitimate, accountable and trusted global cooperation, problem solving or governance.” – WEF Everybody’s Business Report.

And so what have they done? In collaboration with Google, Facebook, Microsoft, Amazon and other internet giants our governments and business elites have embraced the idea of using censorship to suppress ideas and opinions which challenge the official narrative. A UK government promotion, The Integrity Initiative has been exposed as working to ensure any item expressing support for the Assad regime in Syria, or criticising military interventions aimed at effecting ‘regime change’ are made invisible by blocking them in internet searches, ‘shadow – banning’ the content posted by certain organisations and individuals and rather than promoting the truth, which in the case of Syria is that bad as the Assad regime may be, what would replace them, as ISIS have shown, would be even worse, actively suppressing accurate reporting in the public domain and replacing it with politically convenient misinformation.

In their minds of course, we the punters are far too stupid to see through such a ruse and will accept what we are being told and allow the globalisation project to continue unchecked.

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https://edbutt.blogspot.com/2017/04/the-rise-of-populism-explainer.htmlThe Rise Of Populism: an Explainer
Macron May Trigger EU Wide Crisis With Yellow Vest Crackdown
After Triggering Mass Migration Crisis Germany Is Now Bribing Refugees To Leave

Salvini Visits Poland To Discuss “Eurosceptic Alliance”

Finding himself and other European  Union (EU) leaders opposed to political integration of the bloc into a federal superstate dominated by Germany and France under constant pressure from the increasingly authoritarian EU  commission as it tries to impose its globalist agenda on member states, the de fact leader of Italy’s democratic government, Matteo salvini, is nopt without allies.  Salvini is emerging as the Eurosceptic figurehead for EU member states  that have embraced a more conservative, populist or anti-immigration position or found themselves at loggerheads with the authoritarian, unelected, bureaucracy in Brussels, either through Article 7 threats against Hungary, a rule-of-law investigation into Poland’s ruling party or threats of an excessive debt proceeding against Italy. The leaders of these states finally appear to be banding together to try and push back against Brussels.

According to a report from Reuters,  Matteo Salvini, nominally Italy’s Deputy Prime Minister because the EU, once again showing its contempt for democracy, refused to accept the leader of the democratically elected government,  is planning to meet with the leader of Poland’s ruling party, Jaroslaw Kaczynski, on Wednesday to look at the possibility of creating a “eurosceptic alliance” to contest in the European Parliamentary elections in May, and probably replace the dominant pro – federalism alliance in the European Parliament.

Matteo Salvini

The idea is part of a broader plan by eurosceptic governments that hope to “fundamentally shift the political balance of the European Union after the Europe – wide election.” Salvini’s visit to Warsaw will take place at the invitation of Polish Interior Minister Joachim Brudzinski.

“(The election) will show whether the eurosceptic voices within Europe are on the rise or if the rise has been curtailed for the moment,” said Michal Baranowski, the head of the German Marshall Fund’s Warsaw office.

Salvini, the leader of Italy’s Eurosceptic, anti-immigrant League Party and one of the two men effectively running the country (along with Movement Five Star leader Luigi Di Maio), has repeatedly criticized the EU for meddling in the domestic politics of member states and warned that Italy’s is ready to leave the single currency system. The country was bullied into joining when tying its weak economy to Germany’s industrial powerhouse was always going to result in an economic catastrophe for Italy and both Salvini and Di Maio are on record as saying membership of the Euro has harmed Italy.

The May elections are important for creating a “reformist” bloc that supporters hope can change the EU from within, halting the push towards political union and returning the bloc to its originally stated purpose of being simply a free trade and economic cooperation organisation of sovereign states.


EU Stitch Up To Promote Euronazi Selmayr’s Is Typical Of The EU’s Contempt For Democracy

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The former Prime Minister of little Luxembourg Jean-Claude Juncker to ensure his chief of staff was installed as the new Secretary-General of the European Commission, in what one senior Eurocrat has called “an impeccably prepared and audacious power-grab” at the top of the European Union.

EU “Sounds Alarm” Over New US Sanctions On Russia; Germany Threatens Retaliation
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Germany Threatens Sanctions Against Poland Over ‘Lack of Western Values’ (for Western read German)
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Europe’s Bank Crisis Arrives In Germany: €29 Billion Bremen Landesbank On The Verge Of Failure

… yesterday we observed a surprising development involving Deutsche Bank, namely the bank’s decision to quietly liquidate some of its shipping loans. Reuters reported, “Deutsche Bank is looking to sell at least $1 billion of shipping loans [a market sector] whose lenders face closer scrutiny from the European Central Bank.

BREXIT vs. GREXIT – The Truth About The European Union And How It Treats Members
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The Hypocrisy and Snobbery Of The Remain Campaign And The Antidote

When I had to defriend a Facebook contact because she was arguing in favour of the EU, it was not simply because I support Brexit that I had become pissed of with her, it was the snobbish and condescending way she dismissed supporters of LEAVE and their case. People are entitled to their opinion on the European Union, but they should check the ‘facts’ they post in support of their arguments.

Adolf Hitler, His Part In Our Downfall

.pdf dowload
A thirty five thousand word book on the authoroitarian, undemocratic, bureaucratic dictatorship that is the European Union. Following the outburst of left wing hate politics following Boris Johnson’s reminder that the EU has its roots in Hitler’s Naziism, which as any intelligent person is aware is both true and very well documented. My blog colleagues and I decided to assemble this collection of our articles (with some long extracts quoted from public domain and creative commons sources) to help people misled by the REMAIN campaign into thinking the arguments are solely economic.

EU Vows To Use Powers To Block All Elected ‘Far Right’ Politicians From Power
… populist social conservatives are regularly topping the polls across the Europe, but have been victims of EU orchestrated stitch ups to keep them out of power and ddeny the democratic will, in France, Sweden, Holland, and now Austria – and anti-migrant populists are already in power in Hungary, Poland, and the Czech Republic. Mr. Junker’s definition of “far right” is somewhat broad, noted by him previously describing Hungary’s conservative president, Viktor Orbán, as a “fascist”.

EU Vows To Use Powers To Block All Elected ‘Far Right’ Politicians From Power
… populist social conservatives are regularly topping the polls across the Europe, but have been victims of EU orchestrated stitch ups to keep them out of power and ddeny the democratic will, in France, Sweden, Holland, and now Austria – and anti-migrant populists are already in power in Hungary, Poland, and the Czech Republic. Mr. Junker’s definition of “far right” is somewhat broad, noted by him previously describing Hungary’s conservative president, Viktor Orbán, as a “fascist”.

 

 

 

Macron May Trigger EU Wide Crisis With Yellow Vest Crackdown

With no sign of an end to their protests, the Yellow Vest movement looks to have created the perfect storm of economic, political and social problems for political novice turned national leader, President Emmanuel Macron.

He has tried to trivialise the protest movement and to patronise their leaders but his lack of understanding of the situation, his ignorance of working class life and convcerns and his obvious contempt for those who are audacious enough to oppose the man who on being elected said he would govern in the style of a Roman God have put him politically between a rock and a hard place while up shit creek without a paddle.

Ignoring the problem, as he is trying to do after negotiations with Yellow Vests leaders failed, only makes him look even more disconnected from the people he governs, while attempts at appeasement have made him look weak. All he can do to get himself out of the situation is forget his globalist handlers, put France first, resign and step aside for new elections, which his 2017 opponent Marine Le Pen will probably win. Remember, Macron, who had been a minor figure in the government of Francoise Hollande, came from nowhere as leader of a totally new party with no political track record, and was shoehorned into the presidence by an establishment stitch up to stop Le Pen, with France’s socialist and conservative parties winding down their campaigns and urging suporters to vote for the unknown quantity, Macron.

The outcome has been an all too visible (and malodorous,) disaster.

Rather than resign or trying to pretend the protestors are just a small finge of extremist nutters who just need one of his elitist cronies to talk down to them,, he has chosen a third option, and one that can only make things worse. President Macron has announced a crack down on the protesters in a futile attempt to show his strength. Authoritarians, like Pavlov’s Dogs, are always so predictable in their responses to any challenge like clockwork.

Disobedience is met with violence. More disobedience is met with more violence. Macron has already deployed France’s paramilitary state police, the Gendarmerie against protestors and one politician has even called for the use of LIVE AMMUNITION against protestors.

Before last weekend’s protests, the eighth consecutive week of anti – Macron activism, the president had one of the Yellow Vests original organizers, Éric Drouet, a truck driver, arrested and released pending a trial for “organizing an undeclared demonstration” while meeting with friends at a restaurant. Naturally that went down like the proverbial lead zeppelin with Yellow Vest supporters.

But even in choosing the worst option, that of trying to look tough, Macron has disconnected himself from the action by delegating responsibility for overseeing the crackdown to his Prime Minister Edouard Phillipe. This is only going to provoke an even more extreme reaction. However Prime Minister Philippe has made a great start at handling the bad PR duties by informing everyone that even more crackdowns are coming on these protests because National Security or something.

The French have always been bloody minded and anarchic so far from calming the situation, Macron’s chosen path will only do more to destabilize French society as over-worked (and seriously under-paid) police are asked to do more. A couple of weeks ago,  French police officers donned their own yellow vests at one point, complaining that they hadn’t been paid for the over-time they’ve put in to “control” these protests by stoking further violence.

The Yellow Vests in France have followed the path that Italians took last year, when  elections resulted in the formation of a Eurosceptic coalition of left-of-centre Five Star Movement and centre right (or far right as left wing extremists insist on describing them,) Lega (The League,) both of which oppose any further surrender of sovereignty to Brussels. Italy’s Eurosceptic double act of Di Maio and Salvini Lega are determined to end mass immigration. People who voted Lega / Five Star had come to the same conclusions as Gilets Jaunes protestors in France, that the EU is a scam and all of its policies were designed to do exactly what they have achieved — impoverish the working classes, enrich the aristocracy and enforce this new social order through a Byzantine bureaucracy that makes the world of Terry Gilliam’s Brazil look like a Toyota factory floor.

If France falls into complete political chaos it may eventually prompt the EU bureaucrats to pull their heads out of the sand and see the truth for what it is, that Europe is not the model of future stability just because Macron, Merkel and Super Mario Draghi say it is.

A call for a further crackdown against protests is the same response as the new EU laws on internet speech and dissemination of memes, Articles 11 and 13, they are attempts to stop open dissent against a distant and uninvolved leadership.

This is why Salvini and Di Maio’s support of the Yellow Vests is so important, it provides another vector of attack on the EU which they eventually cannot ignore.

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French writer Renaud Camus, famed for first proposing the theory of the “Great Replacement,” commenting to news reporters about the wave of riots and civil unrest sweeping France, said that the recent “Yellow Vest” protests are a grassroots reaction against the Davos elite who view working people as worthless “human Nutella.” (i.e. cheap, low grade products.)

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Merkel Faces Crisis As German Ruling Coalition Collapses

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Merkel Calls for Beginning of Coalition Talks With Greens, Free Democratic Party
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German Elections: Anti – EU party AfD 3rd In Polls

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More news from September 2017

The EU can go and F*** itself!’ Italian Politician’s Outburst Rallies Support In Italy
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Yellow Vests Don’t Take Christmas Vacations
For the seventh weekend in succession protestors in Yellow Vests (the Gilets Jaunes) have been out in the streets of Paris, making a public spectacle of their disillusionment with the elists government of President Emmanuel Macron. In spite of Chrstmas celebreations the yellow vests continued their bid to forece the resignation of Macron.

European sovereign debt crisis could cause Eurozone implosion – ex-BoE chief
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Cameron’s EU Package: Not A Deal But A Few Turns In The Spin Machine
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Cameron’s Hopes For EU Membership Reforms For UK Torpedoed By Tusk

David Cameron’s hopes of winning serious concessions on sovereignty, border controls, contributions, trade agreements, human rights and labour laws so he could claim to have won a better deal for Britain by the time the in / out referendum starts next year European Union suffered an early blow when European Council President Donald Tusk warned that reaching a deal would be “very tough” …

Italian Town ‘Taken Over’ By Nigerian Migrant Gangs
The former seaside resort town of Castel Volturno, to the north of Naples, has reportedly been taken over by Nigerian gangs who run drug and prostitution rings. The town has a total population of around 30,000 people, of which an estimated 20,000 are migrants, many of them in Italy illegallly, French news magazine L’Obs reports.

The EU bubble is doomed to burst in 2019, financial analyst warns

While Project Fear doom mongers among the British establishment / media cabal continue, against all evidence, that the British economy has collapsed catastrophically since the Brexit referendum result was announced in 2016, in reality it the the European union that is on the verge of collapse, Brexit or no Brexit.

As this blog has reported, France is on the brink of social and economic collapse as Emmanuel Marcon’s government demonstrates it is clueless in the face of “Yellow vest” protests against elitist policies that favour the rich and big business. The protests are now so widespread they are hitting the country’s economy while social unrest is growing every day.

In Germany, Hausfrau – Voksfuhrer Merkelo clings to power by her fingernails. Italy’s Eurosceptic double act, Matteo Salvini and Luigi di Maio are determined to be a thorn in the side of Brussels bureaucracy on every issue. The Visegrad group, let by Poland and Hungary are at loggerheads with the EU over Brussel’s efforts to impose mass immigration on them and Spain is being torn apart by regional independence movements.

Meanwhile the massive influx of unskilled migrants the ‘open doors’ immigration policy imposed by Brussels has placed an unsustainable financial burden on member states. It is any wonder financial analysts are predicting the great globalist federalisation project is about to collapse ignominiously.

from RT:

The European Union is about to implode this year, investor Mitch Feierstein has predicted in a New Year episode of the Keiser Report. He also reveals which country will become the next Greece – and the answer may surprise you.

This year will be harsh for Europe not only due to Brexit, because other member states besides the UK could also bring the bloc down, according to Feierstein. Nationwide protests in France are only the first sign of looming wider unrest, the analyst told RT’s Max Keiser.

“You are gonna see global unrest. I think you’ll it as a feature in Italy when the EU tries to bully them,” the British-American investor noted, citing infective “draconian austerity measures.”

However, not only Italy but also France could follow the fate of debt-ridden Greece, Feierstein warned, noting the low approval rating of President Emmanuel Macron, skyrocketing unemployment, and huge wealth inequality in the country.

“Italy has got four trillion in loans they said there are not going repay… France has got a similar situation but they’ve got civil unrest with the population burning down Paris. So one of them will leave,” he predicted.

Both countries have been breaking EU budget rules. After just one year of compliance in 2018, Paris announced that its budget deficit for 2019 is set to be 0.2 percent higher than the three percent threshold that the bloc’s rules allow. Brussels agreed to tolerate the breach as it had been doing so for almost a decade before Macron’s presidency.

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Google is the enemy and must be destroyed, or freedom dies forever

Google Monster
Google monster” Source: Giles Nabiney via http://www.101touches.com/

 

 

It’s the Artificial Intelligence that manipulates people through a billion tablet computers, mobile phones, email accounts, and search engine of choice, and the mangers claim their goal is to enhance our lives by knowing us better than we know ourselves, and nudging us with constant suggestions and warning to make better, wiser decisions than we could ever make for ourselves. “Don’t be evil,” the corporate motto read in the early days, although that has now been dropped because it became something of an embarrassment when people worked out it was incomplete, the full version read, “Don’t be evil, that’s our job.”

The Google empire is anything but a force for good, As we have reported the corporation enjoys an unhealthily cosy relationship with governments and security agencies, with only the European Union, China and Russia having proved capable of standing up to it and Dave Hodges of The Common Sense Show warns if it isn’t broken up soon then we can all kiss our collective future goodbye. Google plans to track every move we make through our devices, governments want to control everything we do. Naturally the two are happy to collaborate for the purpose of advancing thir agendas.

The way Google gains influence with government is through its increasingly creepy and intrusive surveillance and data gathering and analysis technologies, which are now being included in devices that are nothing to do with the internet. Soon, if Google gets its way, everyone on the planet will be monitored, tracked, and controlled by Google algorithms overseen by a technocratic elite who plan to censor all internet content and suppress all dissent throughput the liberal democracies of the developed world. Anyone who dares to challenge the establishment narrative will be identified and targeted.

Right now, more than 98 percent of mainstream media outlets the world over are controlled by just six corporations. And all of these corporations, says Hodges, are Cultural Marxists who hate the working classes, and despise everything for which, after 5000 years of civilisation, our nations have evolved to value.

Even Fox News, which presents itself as media for conservatives, is merely controlled opposition that’s funneling its viewers right into the same slaughterhouse as all of the other news outlets. Sadly, this leaves about two percent of the media, several outlets of which are now banned by Google, to tell people the truth.

“At the forefront of the propaganda that keeps America paralyzed is Google,” Hodges explains about the source of the problem. “Google has moved past Monsanto (a.k.a. Monsatan) as the most evil corporation in the world.”

Back in the summer, it was announced that Google was developing a “special” search engine for communist China that allows for only state-sanctioned “news” to show up in the results. Pretty much par for the course where the regime in China is concerned yo might think. But what mainstream media are not reporting is that Google has similar plans for the U.S.A, the European Union, Britain, Canada, Australia, Japan and anywhere else with a reasonable level of prosperity.

MORE ON CENSORSHIP

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Google Extends Its Powers, Become The Master Spy Of The Digital Age

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EU Consumer Groups Accuse Google Of Breaking Privacy Laws by Covertly Tracking Users

Google threat to democracy

The Importance Of Freedom Of Speech and Information

Free Speech Is Under Attack And Journalism Is Dead

Leaked Google Emails Reveal Internal Discussion On Burying Articles From Conservative Outlets

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Prominent Hedge Fund Manager Sees Dollar Losing Reserve Currency Status

While the liberal democracies, having allowed Cultural Marxists to infiltrate government at every level and implement socially and economically disruptive policies Ray Dalio, founder of Bridgewater, the world’s biggest Hedge Fund believes now is a good time to reflect on China’s progress towards its goal of replacing the USA as the world’s most powerful nation.

China’s growth as the size if its economy closes rapidly on that of the USA, speaks for itself, but Dalio adds:

“To have such rates of improvements in so many areas and for so many people has made it the greatest economic miracle ever.”

 

And from what Dalio has seen, he believes that the very impressive results that the Chinese leadership and the Chinese people produced came about primarily because of the powerful combination of a) China’s opening up and reforming following an extended period of isolation that led to a fast catching up (especially in the coastal regions of China) with the advanced developed world, and b) the power of the Chinese culture and it’s related ways of operating.

Crucially, Dalio points out that, if you haven’t spent time in China, you need to get any stereotypes you might have out of your mind because it’s not how it was. This is not your father’s communism. It is “socialism with Chinese characteristics” that has been significantly and very effectively reformed, which has made it much more vital, creative, and economically free.

Dalio’s ‘romantic’ view of a paternal China is definitely not the mainstream narrative:

“From my experiences and from what I am told by Chinese who should know, I believe Chinese leadership seeks to run the country the way they believe a good family should be run, from the top down, maintaining high standards of behavior, putting the collective interest ahead of any individual interest, with each member knowing their place and having filial respect for those in the hierarchy so the system works in an orderly way. One of China’s leaders who explained this concept to me told that the word “country” consists of two characters, state and family, which influences how they view their role in looking after their state/family.

One might say that the Chinese government is paternal. For example, it regulates what types of video games are watched by children and how many hours a day they play them. As a broad generalization, when the interest of the country (like the family) is at odds with the interest of the individual, the interest of the country (like the interest of the family) should be favored over the interest of the individual. Individuals are parts of a greater machine. As a result of this perspective, the system seeks to develop, promote and reward good character and good citizenship. For example it gives people a social credit score that rates the quality of their citizenship. And each person is expected to view themselves as parts of the greater whole.

This management from the top down includes visualizing what China 5, 10 and 20 years in the future should be like and then making and managing detailed multiyear plans to build out that vision, with the goal being to make China as great as it can be. China is run more like a giant company with many subsidiaries, some within the government’s direct control and some within its indirect control.

But, as the fund manager notes, while Chinese culture has been evolving, it has at its most fundamental level been operating in similar ways for many hundreds or even thousands of years and the results of operating that way are knowable in an approximate way.

I have recently been researching the rise and fall of reserve currencies, which led me to study the rises and declines of the world’s most powerful countries. That led my research team and me to put together the following indices of the relative powers of leading countries since 1500. These indices are a combination of six sub-indices that measure six different types of power:

1) innovation & competitiveness,

2) domestic output,

3) share of world trade,

4) financial-center size and power,

5) military strength, and

6) reserve-currency status.

…and they show when different countries reached their peaks relative to the rest of the world.”

And to support his position he has put together an impressive set of statistics showing how global and regional powers from Portugal in the west and China in the east, in the late medieval era, rose to economic dominance in the west, and how as Portugal declined to be replaced by Spain, then France, then The British Empire and finally the USA all rose to dominate while they had a stable culture and strong values, and all declined when political factors undermined that cultural stability and government started to medle in private affairs.

China on the other hand, dominated in the east from around 1200 to 1900 CE only being challenged by the British and the Japanese in India from the mid nineteenth century. China’s social system had stagnated through isolation, while Jaoan’s had been revitalised by contact forst with Portuguese and Dutch traders and then US government and business interests.

After the communists took over China’s still stagnant society the nation became even more isolated until the idealist Mao Tse Tung was replaced by equally totalitarian but more pragmatic leaders who opened up the country economically and allowed individualism and enterprise to flourish. The reformed communist party opened up the economy but maintained the cultural stability based on family, community and tradition.

And judging by Dalio’s take on American culture, it is clear where he thinks this is going…

“Most fundamentally, the US is a country in which individuals, individualism, and individual property rights are perceived to be of paramount importance it is directed from the bottom up (e.g., through “one man, one vote” democracies that empower people to choose their leaders), being revolutionary is considered a good thing, and conflict is valued more than harmony.

Rather than respecting top down control most American have a strong preference to keep government from interfering with their most individual choices. Character development is a personal or family issue, not a government issue (which leaves it largely neglected in areas with broken families, especially if they’re poor).

Rather than there being a long-term top down vision for the country and a plan to achieve that vision, in the capitalist and democratic system such directions are more bottom up determined based on commercial and popularity considerations.”

Thus Dalio comes to the conclusion that as the USA continues to fragment socially it’s economic decline will also continue, while the Chinese, bound by their strong and stable culture, will continue to forge ahead, with the inevitable result that the US$ will lose its reserve currency status, something which is already happening as we have reported HERE. Of course, the world’s largest hedge fund manager avoids directly slamming America’s ‘dream’ or supporting China’s central planners:

“I’m not saying which system is better. Each culture/system has its pros and cons that I’m not going to get into now.

I believe that the important thing to know are that while there will be trade wars and trade truces they aren’t the most important things. ”

So, in summary, “it’s not the economy, it’s the culture stupid!”

The Demise Of Dollar Hegemony: Russia Breaks Wall Streets’s Oil-Price Monopoly

Significant moves in the global chess game have just rendered the huffing and puffing of warmonger Obama meaningless and will break Wall Street’s monopoly in controlling oil markets. The move is part of Vladimir Putin’s long-term strategy of decoupling Russia’s economy and especially its very significant export of oil, from the US dollar, in effect …

Naked Bankers Go For Gold

… That gold sale in 2013 was a naked short. The seller had no gold to sell. COMEX reported having gold only equal to about half of the short sale in its vaults, and not all of that was available for delivery (quite a lot of it belonged to the german government) In effect the naked shorting of gold could only work because really the right hand was selling to the left hand.

The Demise Of Dollar Hegemony: Russia Breaks Wall Streets’s Oil-Price Monopoly
In a move that went almost completely unreported in mainstream media, Russia has recently opened a market for the trading of physical and ‘paper’ oil (futures) in Moscow in Roubles. This is the most blatant challenge yet to the domination of the US dollar in world trade.

China launches global yuan payment system
China’s Central Bank has started a global payment system which provides cross-border transactions in yuan. The China International Payment System (CIPS) intends to internationalize the yuan and challenge the US dollar’s dominance.

EU and US talk of war with Russia

The European People’s Party (EPP) is the largest political group in the European Parliament, and they are unerringly supportive of America’s efforts to start a war with Russia. “The time of talk and persuasion with Russia is over,” MEP and Vice-President of the EPP told a meeting on Tuesday, 21 April, “Now it’s time for a tough policy, and concentration on defence and security …”

This Is Why The US Just Lost Its Superpower Status According To Larry Summers

As more and more countries flock to join the Chinese led Asian Infrastructure Investment Bank after Britain, France Australia, India and other traditional US allies defied Washington to associate themselves with China’s initiative, conservative economic pundit Larry Summers once a contender for the chairmanship of the Federal Reserve delivered a sharp rebuke …

The True Debt Disaster America Faces – Only A Fraction Of Government Debt Is Known To The Public

Politicians and the media talk about the $17 trillion debt the US Government owes to creditors. They are lying, the $17 trillion is a fraction of what america owes. The real figure is $200 trillon. And Obama’s loonytoons economics are driving that up at an accelerating rate.

U.S. versus Russia War: Top Russian Politics Scolar Stephen Cohen Tells The Truth

We have been blogging for four years about the US drive for war, provocation of Russia in Syria, Iraq, Ukraine and elsewhere made it obvious. But I’m just a news junkie with a strong sense of curiosity and have wondered why the US seems set on this course. Good to see experts like Stephen Cohen, a prominent expert on, Russia are coming onside.

Does It matter If The Dollar Is Replaced?

“Without delving too deeply into Austrian economic and capital theory, just let me point out that money printing disrupts the structure of production by fraudulently changing the “price discovery process” of capitalism. Capital is allocated to projects that will never be profitably completed. Bubbles get created and collapse and businesses are suddenly damaged en mass, thus, destroying wealth. (Zero Hedge)”

What the BRICS plus Germany are really up to in the Currency Wars?

The move led by Russia and China to dump the Petrodollar has escalated into a currency war, not the kind of war we assciate Obama with but give him time. Some wars as in Ukraine, by proxy are not going so well. Others, like the one against Islamic State aka ISIS aka ISIL in the middle east are going worse. Disintegration of The American Economic Empire is manifesting itself in moves by wannabe global players towards creating a multipolar world …

 

Russia Just Sent out a Message NATO Should Better Listen To

The key paragraph from the latest official Russian naval doctrine is that Putin and his military advisers have sent a clear message that NATO encroachment is unacceptable. To be honest, there is nothing earth shattering in this, The Daily Stirrer and many other alternative media news and analysis sites have been warning for about two years that Obama’s foreign policy was making conflict inevitable.

De – dollarization Moves Ahead – Once Again We Told You So,

What Putin Wants

China Warns U.S. to Stop Its Ukrainian Proxy War Against Russia

The World Rejects USA Attempt To Manipulate Venezuela

India’s Ruling BJP Party Crushed In Regional Poll

Another Conspiracy Theory Becomes Fact: Oil Collapse Is All About Obama’s Proxy War With Russia.

G77 Nations vow to destroy petrodollar and America’s New World Order

American Dollar Dumped

Iran’s Oil and the US Dollar

France: Yellow Vests Rampage After Founder Arrested

Violence has erupted across France once again, days after French authorities arrested a key organizer of the Gilets Jaunes (Yellow Vest) movement.

After today’s protests began peacefully the Paris police once again used riot busting tactics, attacking the yellow vested demonstraters with teargas and batons as protesters began to get noisy during the so-called ‘Act VIII” Day of Rage.

Marches and protests also took place in several other cities across France and in London. Protesters in Paris hurled objects at riot police manning bridge barricades over the Seine river, while garbage bins were torched along the upscale Boulevard Saint Germain. In one of the London protests an EU flag was burned.

33-year-old Eric Drouet, one of the founders of the Yellow Vest movement’s and its most high-profile figure, was arrested on Wednesday night for leading an unauthorized demonstration, signaling a crackdown on the anti-government demonstrators after nearly two months of violence-filled protests. That could be the biggest mistake President Marcron has made in his short lived presidency.

Drouet, a Parisian truck driver, was arrested on Wednesday evening near the highly symbolic Champs-Élysées, location of the french presidential palace. Drouet was detained while leading a commemoration of yellow vests who have died since the movement’s inception, most of whom were hit by cars during protests at roundabouts throughout the country, according to the Wall Street Journal.

The movement, which began as a protest against a fuel tax, evolved into a general movement against the Macron administration. France has been shown by economicv researchers to be the most taxed country in the world.

 
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