Posted by In his recent speech at the St Petersburg International Economic Forum, Russian President Vladimir Putin mockingly described the population of the industrialised West as the “golden billion”. He explained that the global financial landscape was about to change as the era of Western financial dominance is replaced by Eastern dominance.
As it happens, he is correct. The days of affluent living are about to end for this “golden billion” in the Western block of countries formed by the UK, the EU, and North America.
This block of countries is essentially bankrupt, as Government assets and revenues can never cover or repay the accumulated debt. Official debt of the USA is over $30 trillion, the UK about £2.5 trillion, and the EU over €11 trillion. When unfunded liabilities are added in, such as pension liabilities (USA $210 trillion, EU €44 trillion and UK £10 trillion) an economic collapse is inevitable now.
How has this happened? The root cause is money printing. Unrestricted money printing for years has created inflation and reduced the value of currencies. Since mid-2020, banking bail outs to avoid banking collapse, under the cover of “covid payments”, have added trillions (almost doubling the existing debts) to the already bloated debt pile. These bail outs bought a little time, via astonishing levels of money printing, but the clock has now run out. These days, money printing is on such a vast scale that taxation is irrelevant. It is a drop in the ocean. Taxation is just to ensure we are kept in poverty and enslaved.
How has the West got away with this suicidal course of money printing and unrepayable debt creation for so long?
The West looks to the USA because the dollar is currently the world’s reserve currency. But the dollar and other “hard” currencies such as the Euro and Pound Sterling are not backed by any commodity (and thus are called “fiat currencies”) and so have no intrinsic value, only the fact that they are backed by the word of the Governments.
That word is now of little value since the splitting of the world into two as a result of the Ukraine war. The days of exporting worthless digital money and getting real goods in return are over.
The Western sanctions imposed on Russia have simply put the final nail in the West’s financial coffin as Russia redirected its supplies of oil, gas and other vital products to China, India, Iran and elsewhere, essentially creating a vast Eastern trading block that the West has no access to as they have been declared ‘unfriendly’ due to suicidal Government policies.
Now, while the West freezes and endures supply shortages through its own actions of sanctioning Russia, the Russian currency and revenues are booming. Almost no one buys oil or gas in dollars anymore. The West has lost control of the world.
So, the West now has un-repayable debt levels and worthless currencies. But who owns the West’s debt?
We know more or less who they are because they meet every year at the World Economic Forum in Davos along with the western political elites who they also happen to own.
Unfortunately, the owners of this Western debt don’t own the Eastern block of countries, who long ago offloaded their reserves of Western currency (rightly so, as has been proved after Russia’s remaining $300 billion of foreign reserves were unceremoniously looted by the West when the Ukraine war started).
The Western financiers tried to enslave the East in debt and failed. They started wars, and failed. Now their world is limited to the West and is no longer global.
The Owners of the Western debt will now try and exact repayment from the Western population through a digital financial re-set that enslaves those citizens. The masses will suffer. When the crash comes, and the ATMs no longer work, the next step will be a World Economic Forum-driven monetary re-set.
This process will be painful, and many will die during the economic rearrangement. Prepare well for this time of food, cash and other shortages. Find a friend to share the end times with, and to help each other.
And above all prepare well for death. The non-physical realms are not a bad option compared with the coming physical reality.
Wherever we are, we should seek to move our state of mind so that we cease to be attached to the past, our history, what we had, those things that now no longer exist. Nothing lasts forever.
Let the past go and your soul’s onward journey will not disappoint.
22 June 2022
Piers Morris Blogspot 