Sovereign Finance
Sovereign Finance
The Escalation of Chaos
0:00
-10:39

The Escalation of Chaos

Rob and Derek discuss current affairs from a Sovereign Finance lens.

Rob’s comments are in italics.
Derek’s comments are in normal font.


Things on every front appear to be getting more chaotic. Nearly everything I am going to run over today are things I have mentioned before over the last few weeks and months, but it seems that the temperature is steadily rising.

It is like groundhog day. I think the main development, if you can call it that, over the war in Ukraine is that the latest word from Trump is that essentially they are washing their hands of trying to broker a deal. There are various things about this.

One of them is that there is a certain amount of hypocrisy in America, regardless of who was in the driving seat at the time it happened. There is a certain amount of hypocrisy in America claiming to play the role of a blameless broker because the American so-called security services obviously played a large part in stirring the situation up in Ukraine in the first place 10 years ago.

Is one of those 1984 things, is it not, where the Ministry of Defense is actually the Ministry of War. The Israeli Defense Force is actually an attack force etc.

With the Israel-Palestine situation, there is no change really apart from it gets more and more intense. As far as I can tell, the majority of the rest of the world apart from Britain, America, Australia, and a few close allies is pretty well united in sympathy for the Palestinians as well they might be. It is plainly just a wholesale slaughter of a civilian population and refusal to allow any humanitarian intervention.

I guess the main significance of this is a continual erosion of sympathy for the West amongst the world as a whole. This is reflected also in financial dealings. The rest of the world is taking serious steps to disengage from the dollar dominated world trading situation.

That is closer to some collapse than anybody could possibly imagine. Certainly anybody could have imagined, let us say, a year ago. China almost certainly is well advanced in setting up an international trading settlement system, which will really render the swift interbank transfer system redundant.

The imposition of trade sanctions on the rest of the world is something that might have worked 25 years ago, but is no longer significant in today's world when America has very little to export apart from weapons. It is looking to me as though the weapons systems that Russia is producing are rapidly pulling ahead of those. Anyway, getting back to the war in Ukraine, the attempt to have a peace conference in London last week collapsed because Zelensky said it was unacceptable to concede any part of the 1991 borders of Ukraine and to accept that the population of Crimea wished to be part of Russia. The Russian government and Crimean population are absolutely adamant that that stays.

Ukraine’s 1921 borders. Image: Tschechoslowakei, CC BY-SA 3.0, via Wikimedia Commons

With the peace talks collapsing, we are back into an utterly vicious warfare, which it appears to me Russia is making the run in. They have got enormous advances on just about every front. We are going to get to a point where Ukraine cannot continue. That seems to me to be the only possible outcome.

Other things I think are pretty significant is the uncovering of information about a whole variety of things. Trump's administration has been on the whole disastrous and erratic. However, one thing which I think is a very positive move is the increased transparency regarding several issues.

We have referred to this before. There is the J.F. Kennedy assassination, the Robert Kennedy assassination, the Martin Luther King assassination.

Possibly 9-11, potentially.

Now, revelations about 9-11. There are far more open conversations. We have had this publication on the White House website regarding an admission that the COVID virus was almost certainly developed in the Wuhan Virology Lab. There were blatant attempts to cover that up, which have now collapsed. There are also serious reservations about the safety of the mRNA vaccine platform. It is extraordinary to me.

All of this is old news to people paying attention, I guess, but it feels like the Overton window of acceptable discussion is being shifted.

I think it would be very interesting. Different people will have had different issues in which they are heavily invested in the official narrative up till now. I have been essentially agnostic about more or less everything in public life, which means literally that in the last analysis, I do not know things that I am 95% or more certain about. I still got a certain amount of elasticity if new information or new revelations or new events cause me to rethink these things. However, it seems that a lot of people take in trends, position and hang on to it with absolute grim determination. I do not know how readily they are going to deal with the cognitive dissonance of suddenly having to come to an alternative viewpoint. That is probably the biggest cause for uncertainty in the world. Also one way of looking at it would be grounds for cautious optimism.

There is an enormous sense of release in embracing the truth on any topic. There is definitely an inattention involved in trying to compartmentalise information so as to hold on to an existing narrative. Getting back to the mRNA vaccine. The information coming out week after week strengthens the reservations that one must have about that entire platform. Jay Bhattacharya, head of the NIH in the States, has just made some extremely forthright comments about the fact that these cannot possibly have been able to be authorised with any degree of confidence. I am still getting reminders from the National Health Service to get another COVID booster or get the RSV vaccination, which is also an mRNA product.

It beggars belief that medical professionals can still at this point be recommending these treatments.

They just follow protocols. It is just protocol driven and until the protocols change they just stick to saying well the protocol says this so this is what we recommend. There is no real critical thinking in it.

Our own government is pledging to support Ukraine. We cannot even maintain our own hospitals or schools or welfare systems or libraries or public services. Somehow or other, we are going to find hundreds of billions to spend on weapons, which are beyond our capacity to produce anyway in any realistic time scale. So watch this space.

Very good. If you do not like the analysis from this week, back in a week or two and we will see where we are again! It is interesting that we are in approximately the same place.

The intensity of it seems to be ramping up. I think certain truths are going to become completely unavoidable.

All right, thanks, Derek.


Thanks for reading Sovereign Finance! Subscribe for free to receive new posts.

Discussion about this episode

User's avatar