It seems like a lot has happened this past week, no?
The US/China trade war is over. Or at least the market is happy to think it is. The Fed-assisted melt-up is on.
The UK delivered a thundering verdict on Brexit. It was also a massive rebuke to the deceitful woke media and politicians who did everything they could to thwart the outcome of the 2016 referendum.
After that verdict, the catch cry was that the dumb people of Britain didn’t know what they were voting for. They were confused.
There should be no such response now.
Socialism versus capitalism went head to head in that election. It was the starkest contrast in a Western democratic election in decades. And the people gave their verdict by handing the conservative government a landslide.
However, this wasn’t so much a vote for capitalism as a rejection of socialism and a vote for national sovereignty. Capitalism as we know it, or as the textbooks teach it, doesn’t really exist anymore.
The Conservatives in the UK certainly didn’t campaign on a platform of ‘capitalism’. As Adam Creighton writes in The Australian:
‘Indeed, the Conservative Party, which won the biggest majority since 1987, eschewed almost entirely any mention of small government, free markets and lower taxes. Its manifesto stressed getting Brexit done, the menace of Corbyn and increased spending on public services. Privatisation didn’t get a look-in in the 64-page document. The National Health Service, by contrast, the most sacred of Labour legacies, received 45 mentions.’
Around the same time this was all happening, on the other side of the Atlantic, the US Inspector General, Michael Horowitz, released his report into how the FBI and other agencies abused their power in spying on the Trump campaign.
They lied to the courts to get warrants to spy on Trump operatives. They doctored information. They planned it all deeply, in the (false) knowledge they would never be caught.
This was all a part of the Russia hoax. It’s now morphed into the Ukraine hoax. Which is really where all the deep swampy corruption exists. Ukraine was a playground for the swamp.
In their abject stupidity, the Democrats are helping to expose it by trying to impeach Trump for looking into their own corruption. It is truly hilarious.
As is the complicity of the establishment media in trying to peddle a patently false narrative. This same media tried to peddle the Russia collusion narrative for years. Now that it’s been proven a lie…we hear nothing.
The Horowitz report is merely the softening up round. The Durham report is yet to come. And he has the power to make criminal charges.
The show just keeps getting better. Although you wouldn’t know it if you only watch and/or listen to the dopey media.
(If you’re interested in all the details, I suggest following the Dan Bongino podcast. Dan has been on this story from day one.)
One thing is very clear to me after following along for the past 18 months. The establishment media are an integral part of the swamp. It’s propaganda. Its job is to keep you distracted…to lie…to promote celebrity worship. All while they work the system to their own advantage and pick your pockets…
Which brings me back to an earlier point.
Capitalism as we know it is dead
Or maybe we never knew it.
Over the past century, capitalism has changed profoundly. The Western capitalist system has become more centralised. That is a bad thing. Centralisation concentrates power. Concentrations of power leads to abuses of power.
Nowhere has the concentration of power been more prevalent than in money and banking. The US Federal Reserve came into existence in 1913. Over the next 100 years, its grip on money became absolute.
At the same time, the global banking sector consolidated and centralised. Now, a handful of international banks, along with the Fed, rule the monetary world. And if you control a nations’ money, well, you control just about everything.
Throw in the centralisation of information via media concentration, and the rise of Federal government (at the expense of the states), and you have the beginnings of a socialist control structure growing out of a capitalist system.
Am I going too far?
Not at all. Look at China. It’s all about centralisation.
These changes occur slowly. Imperceptibly. We only notice when it’s too late because we were too busy watching the latest crap on Netflix.
It starts with education. Does anyone know of a primary school (or a secondary school for that matter) that teaches the Aussie constitution and why it was designed the way it was?
I don’t either.
That leaves us with a docile population, believing in the good of government and relying on government to ‘fix things’ when life doesn’t go our way.
It leaves us with central banks in total control of our money. With near zero interest rates (or in some cases negative) this monster we’ve helped create punishes saving and rewards profligacy.
That’s not the capitalism I thought I knew.
Yet here we are, having to deal with it.
The US economy remains strong. The trade war is over (so the market thinks). And the Fed will keep rates low to keep the party going.
Tomorrow, I’ll take a look at the markets in detail. It looks like we could be at the start of the melt-up phase. The question is, what can you do about it?
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