by Egon von Greyerz
Phoenix rising out of the ashes
is prevalent thinking that destructive economic policies
are the result of bumbling politicians like Biden who,
"hasn't got a clue that his 'empire is crumbling
in fact, the
WEF Great Reset
ideologues know exactly what they are doing to torch the
existing global economy, making way for
GOING TO BE
A NEW WORLD
"There is gonna be a
new world order out there and we've gotta lead it!
And we gotta unite the rest of the world in doing it!"
That is what
Biden proclaimed in a recent speech.
But since Biden has a tendency to get his speeches wrong,
what he meant to say was:
"There is gonna be a
new world DIS-order out there and we've gotta lead it!"
Sadly, as the world has
heard in many speeches by the U.S. president, he hasn't got a clue
that his "empire" is collapsing around him.
But regrettably for Biden, the U.S. isn't an empire at all but,
nation without leadership...
But even worse, the U.S.
has just in a final act of desperation not just shot itself in the
foot but in the head...!
Very few, if any, of today's world leaders understand the
consequences of their actions and clearly not Biden.
As the world is experiencing the end of an economic era, we are
getting the leaders that we deserve and thus the appropriate ones to
take the world to Armageddon.
So the world is now entering the final battle, a battle with
totally incompetent heads of state which will lead to
The route to Armageddon will be disastrous for the world.
will take calamitous actions, exacerbating not only their own
country's problem, but also the rest of the world's.
And that is exactly what
we are seeing now with the worst possible concoction of debt
deficits, currency debasement and decadence.
The consequences were of
course always predictable based on history. But no leader in the
current era is a real student of history.
And that is why the world
is in such a mess...
FOLLOWED BY A DEFLATIONARY DEPRESSION
I have in many articles outlined the course of events that I see
from here - inflation, hyperinflation, debt collapse, asset
collapse, leading to economic misery and eventually to a
"All Hell Will Break
Loose for Humanity" as I
wrote in a recent article.
There will be continued
+migration, but probably to a lesser extent since there will be no
promised lands which will offer the migrants a better life.
There will be
isolationism and many countries will try to close their borders.
Sadly there will also be,
wars, cyber, civil
and even major military wars...
Mankind has never for any
longer period stayed away from wars and especially not in periods of
economic depression and high debts.
Wars are such a wonderful
excuse for poor leaders both to print more money and as a blame for
the misery that the people suffer. Western dominated media and
propaganda are naturally blaming
Putin for the war.
And many leaders
including Biden want him gone...
BUILT THE WORLD
Wars are of course terrible whoever starts them but as I just said,
the history of the world is very much based on wars and empire
building whether we talk ,
Han, Mongol, Ottoman, Spanish, Russian, or British empires....
Many of these empires
have been revered for what they achieved and still are today whilst
some like the Mongol left very little positive traces for posterity.
The British Empire for example was remarkable.
A small island created
the biggest empire in history lasting for over 300 years and
covering 26% of the world. The cultural and language influence is
Very few voices are heard today requiring that the kings or emperors
of those eras to be convicted for war crimes posthumously.
The U.S. never
created an empire but unprovoked attacked countries like
Over 300,000 civilians
have been killed in these wars led by the U.S..
Whilst virtually the whole Western world considers Putin to be a
war criminal, we have not heard similar attacks on the U.S., UK
or French leaders who were involved in the above recent wars.
Without intending to take sides,
why should we have
different rules or laws for different war criminals?
There is clearly not a
level playing field.
RUSSIAN BEAR HAS CONSEQUENCES
Coming back to consequences, any intelligent Western leader could
have predicted Russia's recent actions since the
Maidan Revolution in Ukraine in
This was when a U.S. and
Western led coup ousted the elected Ukrainian leader and government
and installed a Western friendly leadership.
This coup, combined with new NATO members surrounding Russia, was
such a clear threat to Russia that Putin's reaction was obvious.
Cornering a Russian bear
is very dangerous...
A strong Western leader and Statesman would have foreseen this and
taken up negotiations with Russia.
But Western leaders
totally ignored all the warnings from Putin and Russia and that is
why the world is not just in a mess but in a situation that is
geopolitically very dangerous.
Some observers argue that the current situation has been engineered
by U.S. Neocons in order to start a conflict/war with
The Roman Empire prospered for centuries due to free trade within
But to sanction a country
like Russia which has the world's greatest natural resources to the
extent of $75 trillion is total madness.
Even worse when this
sanctioned country supplies the energy of almost half of Europe,
this is not just shooting yourself in the foot but in the head.
See my article "A
Global Monetary Inferno of Nuclear proportions"...
This will not just lead to energy and food shortages in the West but
also a massive decline in world trade as well as GDP.
The CEO of BASF, the world's largest chemical producer, said
"Cutting off energy
from Russia will spiral Germany into its most 'catastrophic
economic crisis going back to the end of WWII!'."
But this should not come
as a surprise for students of history.
At the end of major
economic cycles, countries get the abysmal leaders they deserve and
these leaders will show a total lack of both intelligence and
statesmanship. So sadly there is not even one leader who is capable
of negotiating with Putin.
As a matter of fact, the U.S. doesn't seem to have a leader at all.
And Germany's new leader
Scholz had hardly got his feet under the table before he was
landed with the small problem that his country gets,
55% of its
natural gas from its 'enemy' Russia...
Germany clearly never learnt the expression,
"Don't bite off the
hand that feeds you".
Both Britain's Boris
"Partygate" Johnson and France's "Manu"
Macron can count themselves lucky that the war took the
attention away from their domestic problems.
FINANCIAL EMPIRE ON THE ROAD TO PERDITION
The U.S. used to be a financial empire but sadly now the country is
on the road to perdition.
As I have pointed out many times, with the following abysmal figures
the U.S. can neither be an economic nor a moral
leader of the world:
Federal debt and
deficit growing every year since 1930 (with 4 minor
Federal debt is up 60X from $500billion to $30 trillion
debt up 53X since 1971 to $90 trillion with GDP up only 22X
payment in deficit since early 1970s
It is really astounding
that the rest of the world accepts being dictated to by a country
that is way past its sell-by date and can only generate false growth
by printing endless amounts of worthless money.
Before the 1970s the U.S.
had a strong economy with a respected currency. But since Nixon
closed the gold window in 1971, the U.S. has been on a slippery
slope with debt exploding and the currency collapsing.
As the chart below shows, the dollar has lost 88% in real terms
(gold) since 1999 and 98% since 1971 (not shown).
The fall to ZERO is guaranteed since all currencies, without
exception, have become extinct throughout history.
But have we ever heard a central bank head or a president telling
their people that the currency is going to become worthless due to
their reckless actions?
No, of course not.
don't understand or study history
elected politician can ever tell the truth because if they
did, they would never be elected...
Just remember "Tricky
Clearly, Nixon had no understanding what happens to money
when debt backs the currency rather than gold.
Or did he just lie as
he had the custom of doing..?
orchestrated a dollar fall (off the Matterhorn as illustrated above)
of 98% with the remaining couple of percent loss down to a 100%
happening in the next few years.
Biden has with his current disastrous actions created the
perfect climate for achieving the final 2% fall of the dollar.
But remember that is a
100% fall from here...
ASSETS HAS CONSEQUENCES
By demonstrating to world central banks that the U.S. can freeze any
country's foreign exchange reserves held outside their country, the
world financial system and central bankers have learnt a lesson that
will permanently change the way they do business.
No sane country will ever hold their reserves in U.S. dollars or
other currencies at a bank that the U.S. government can directly or
Nor will countries trust the
Swift system which the U.S. can
The flight from the U.S. dollar will not happen overnight but it
will be more rapid than anyone can imagine.
No judicious central bank chief will ever consider handing their
FOREX reserves to the U.S., a
bankrupt nation, with a collapsing currency which at a whim can
confiscate other countries' reserves.
But not only that, who would ever put their money into U.S.
Investors would not only
lose their total investment on the falling value of the dollar but
also on the U.S. as a dodgy debtor which could easily default by
debasing the currency to ZERO or extinguish the debt.
Russia saw this coming already some
years ago and thus liquidated all their U.S. treasuries.
Instead they wisely
U.S. debt is now entering
the Pass The Parcel Game with NO investor wanting to be left
holding the parcel.
Consequences our U.S.
Do you now see that your
government has not just shot yourself in the foot but has inflicted
your country with a lethal head wound.
The collateral damage will clearly lead to a distrust not only in
the U.S. but in all governments and all currencies.
Globalism is now turning into
AND THE OBVIOUS
CONSEQUENCE OF THAT
WILL BE A FLIGHT
PHYSICAL GOLD AND SILVER
HELD IN A VERY