https://scheerpost.com/2023/05/20/patrick-lawrence-the-origin-of-the-specious/
The Origin of the Specious
“Why is our collective mood so sour? We are awash with material wealth, and technology provides us with unprecedented powers. But this veneer of well-being masks a deeper crisis. … Our institutions are crumbling, leaving us vulnerable and aimless. … How have we come to this condition?”
These questions arrived in the mail Monday morn courtesy of R.R. Reno, who edits First Things, a high-end journal of religious and public affairs that concerns itself with the intersection of the two. One way or another, in one or another set of terms, I have wondered about these things for years. Can you be an American and a sentient being—which do not always go together—and not pose these questions, silently or among others?
Lately I think about these matters daily.
I have been living abroad for some time now—south of the border, to be as precise as I intend to get. Leaving the U.S. for however long it turns out to be was mostly a cost-of-living decision, as it is for many thousands of Americans yearly at this point. Mostly but not entirely: I also looked forward to escaping not only the sour mood and the discontent and the aimlessness Reno mentions, but also a certain air of unreality that has come to permeate American life.
It is not so easy to describe this state, especially to those who are most thoroughly immersed in it or who simply don’t want to hear anything about it. It is in the way of what the philosophers tell us: There is no light without dark, no joy without sadness, and so on. If some pole of reality is so distant, so absent from daily life, a pervasive unreality becomes the reality. It is as if it is in the air we breathe and the water that flows from our faucets: So it seemed to me by the time I packed to depart from a New England village I love as I will never love any other, even if I can no longer afford it.
A little distance goes a long way when you exit the condition I describe. I find this whenever I travel abroad and have found it during this latest journey. The things that make headlines in major media—Here’s where to get the best corkscrew, who wore what at the Met Gala, and so on infinitely—suggest a nation detached, willfully, from the world as it is.
America’s political life—and I don’t want even to mention its foreign policies— proceeds in some kind of dream state. Readers of this publication know well enough that our mainstream press and broadcasters have wandered into Alice’s wonderland. Donna Brazile, the longtime Democratic Party hack, as corrupt as they come but taken seriously nonetheless, published a piece in The New York Times a few weeks back under the headline “The Excellence of Kamala Harris Is Hiding in Plain Sight.” This is not merely ridiculously unserious, the essence of our bullshit politics, if you will excuse the infelicity. It is a form of psychosis.
I come to the word I find most useful. I was talking by telephone with a friend in Maine not long after my departure and having a hard time, per usual, explaining these thoughts and impressions. He interrupted. “The national psychosis,” he said.
But precisely. If we define psychosis as a dysfunctional relationship with reality, our republic can fairly be said to suffer a collective case. I can think of no other nation on either side of any divide you want to name that suffers this affliction, at least not to the extent America does.
“How have we come to this condition?” to borrow R.R. Reno’s good question. What is the origin of our collective speciousness, our state of self-deception, our shared inauthenticity—and at this point our desperate attachment to same?
A case can be made that America the specious goes back to the 17th century, the Jamestown Settlement (1607), the Pilgrims at Plymouth Rock (1620), Winthrop’s arrival on the Arabella in 1630. These first trans–Atlantic settlers were as lost in the Bible as right-wing Israelis are today. They all set sail certain that the hand of divine Providence guided them and that they had reached some kind of Promised Land. We think of this as the root of America’s exceptionalist consciousness, and true enough. But a more clinical description is as pertinent, reminding us that America may never have been other than a nation founded on speciousness, which we can define, as Webster’s 11th edition does, as “having a false look of truth or genuineness, having a deceptive attraction or allure.”
O.K., but I am not a scholar of early American history and am more interested here in our shared unreality as it manifests today. Where did this come from?
I have long argued that the events of Sept. 11, 2001, shattered our national myths and so reshaped the American consciousness. It was then, as myth gave way to history, that the imperium, thrown onto its back foot, assumed the defensive crouch and began conducting itself with the vicious aggression of the wounded. It was then our media caved entirely to the needs of a national-security state suddenly desperate to preserve its global primacy.
But I go back a little further now to explain “the national psychosis.” Some readers will remember the prominence in the 1960s and 1970s of Rollo May, the noted practitioner of “existential psychotherapy,” as he put it. Back then you had to read Love and Will to be any kind of hip. Ditto The Courage to Create. I have lately been reading one of his later books, Freedom and Destiny, and came upon the following passage the other night. May is examining the question of destiny, which he defines as those parts of ourselves and our circumstances we can act in accord with or against but cannot change:
We can collectively cover our eyes to the results of our actions, blind ourselves to the full import of our cruelty and our responsibility for that cruelty, as we did in the Vietnam war. But this requires a numbing of our sensitivity and will sooner or later take its toll in neurotic symptoms.
Taking May’s obvious cue, isn’t April 30, 1975, when that famous helicopter rose from the roof of the American Embassy, marking the rise (not fall) of Saigon, America’s decisive date of departure from reality? I think so, having lived through it and all the flinching and pretending that followed.
Nobody has captured this interim more astutely than Chris Appy, the distinguished UMass historian, who got it down in American Reckoning: The Vietnam War and Our National Identity (Viking, 2015). It is a brilliant work of history and social psychology that traces precisely the way America transformed the Vietnam War from an act of U.S. imperial aggression into a conflict that left Americans the victims.
Here is Appy in an interview I conducted with him in Amherst after the book came out:
There was a kind of national mourning, but it was all about what came to be known as “an American tragedy.” This allowed us to stop thinking so much about what we actually did in and to Vietnam and to lick our own wounds and think about the ways that it had divided us—all those things people like Ronald Reagan said the war had hurt, if not destroyed: our natural pride, our international prestige and most of all our power.
There was a kind of reconstruction project, and much of it took place at the level of memory and public discourse about the past. It’s amazing how successful that project was. Of course, memory can’t be defeated or completely erased. There is a legacy of dissent that continues in these decades. There is certainly an incredible proliferation of literature, much of it expressing dissenting viewpoints, but at the broad level of collective or public memory, this epic event gets reduced to a tiny set of images.
Most of them focused on the American combat soldier. Some small unit of Americans walking through very menacing and dangerous jungle environments and endangered, physically and psychologically. That’s a way of worrying about what the war did to us, particularly to our own soldiers. I still have students who grew up persuaded that maybe the most shameful thing about the war was the way we treated returning veterans. That’s a classic example of how we transformed [Vietnam] into an American tragedy.
I well recall, on visits home from overseas assignments in the post–1975 years, marveling at the unfamiliar profusion of American flags all over the place, the hyper-patriotism—often ugly, as during the 1984 Olympics in Los Angeles—and altogether a turn among Americans toward some unbecoming posturing at the heart of which was an idea that America never loses even though it just did. These were the “Morning in America” years, some readers may recall.
It was a great big collective flinch, a turning from reality toward unreality. And so we must see the post–Vietnam time as the root of those neurotic symptoms Rollo May warned us about, except that these have to do not with a patient paying $100 for a 50–minute hour on a couch but with an entire people, with us, with us now.
Last week I read that the Pentagon, now committed to rechristening military bases named after Confederate officers, changed Fort Benning to Fort Moore. Henry Benning was indeed a hell of a piece of work, a radical secessionist and a vigorous defender of slavery, on the battlefield and in the councils of government. Who is Moore, then?
Moore is Lt. Gen. Harold Moore and his wife, Julia. Fort Moore is the first Army base to honor a spouse in recognition of “the important role Army spouses and families play in the success of our military,” as the camp commander put it the other day. It sounds very 21st century, doesn’t it, very 2023, except that Harold Moore is honored for leading the U.S. Army in the battle of Ia Drang, in Vietnam’s Central Highlands. Waged in 1965, Ia Drang was the Army’s first major attack on the Vietnamese, a decisive battle during which it tested assault helicopters while B–52s flew their first bombing sorties. Moore later valorized Ia Drang in We Were Soldiers Once … and Young, an example of just the sort of rubbish Chris Appy writes of in American Reckoning. We were noble, as Moore has it. We did the right thing and paid the price for doing the right thing.
Henry “Old Rock” Benning, who fought for slavery at Antietam and so dishonored Black people, must go. In comes Harold “Hal” Moore, a soldier who front-ended the most shameful of America’s many 20th century aggressions, leaving behind three million brown people as casualties.
See what I mean about April ’75 as the root of the national psychosis my friend in Maine named? See the straight line I propose to etch between our condition then and our condition now?
Last week the Center for Policy and Research at Seton Hall University Law School published a 131–page paper that gives us “the most complete—and compelling—account to date of America’s torture program,” as the authors of “American Torturers: FBI and CIA Abuses at Dark Sites and Guantánamo” write in their introduction. This is the work of Mark Denbeaux, a Seton Hall law professor; Jess Ghannam, a professor of psychiatry at University of California, San Francisco, and a number of Denbeaux’s law students. Not to be missed, it features 40 graphic—to put it mildly—drawings by Abu Zubaydah that depict scenes of torture at the Guantánamo prison over the past two decades. That is how long Zubaydah has been held there, nearly how long the U.S. has known and acknowledged he is innocent, and we are still counting the duration of this atrocity, for Zubaydah remains at Guantánamo as we speak.
Consider this report carefully, readers. We should ask ourselves what and who it is about. It is about the sadists at Guantánamo and their victims, obviously. Is it also about Ronald Reagan, who got Americans to think they were the victims of the Vietnamese? Is it also about Harold Moore and the Pentagon officials who just put his name on an Army base? Is it also about those perpetrating the post–Cold War wars and interventions in the Greater Middle East? Is it about, is it about, is it about…?
Is it about us, we who are not very good at facing ourselves and accepting our responsibilities, we who consequently get through our days as if on clouds of unreality, of speciousness, of endless, numbing distractions?
I mentioned Rollo May’s Freedom and Destiny and quoted a passage having to do with destiny. We should also think about what May meant by “freedom” and why he put these two terms side by side in the title of his 1981 book.
It is our destiny, we who are now alive, to live in a declining imperium responsible for many crimes and inhumane acts, the waging of many wars, and the propagation of many fabrications and lies intended to shield us from all these realities. We cannot change this inheritance. All that I mentioned just above cannot be undone. It all happened, and we cannot unhappen any of it.
Our freedom lies in how each of us chooses to respond to this destiny–and, not least, our determination or otherwise to shape our destiny anew. It is entirely up to us, each of us, to look squarely at our circumstances or go numb. We assume an individual responsibility as we make these choices, just as the postwar existentialists argued, and declining to make such choices, or refusing even to recognize we have them, is to make our choice—the wrong one. May calls this “the freedom of doing,” or “existential freedom.”
I am especially taken with what May has to say about the importance of rebellion, and in the circumstances I describe it should be evident why. “Is the possibility of rebellion necessary and inevitable for human freedom?” May asks. “I answer yes. … I mean the capacity for rebellion as the preservation of human dignity and spirit.”
Human dignity and spirit: I count these among the great casualties of America’s turn into speciousness since April 1975. We can blame Reagan et al. all we like for this state of affairs, but we have also been participants in our collective abdications.
Reagan went on and on about freedom, a perversely defined freedom, to the point one wanted to shout, “Enough already!” That has nothing to do with what Rollo May had to say to us. Reagan’s “freedom” is part of the unreality he helped foist upon us. May’s is the freedom each of us has to act with or against our circumstances, our destiny. It is the freedom to rebel against the state of speciousness that has overtaken us since that fateful spring 48 years ago, to advance ourselves beyond the sour aimlessness R.R. Reno finds among us.
What is there to make this advance impossible? I can think of nothing, or nothing outside of ourselves.
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http://www.informationclearinghouse.info/57557.htm
The Party’s Over, the Gloves are Off
The US and allies trying to use Ukraine as a bludgeon to subdue the world are instead hastening the demise of their own empire of shame
This whole Ukranian episode of the Forever War is more and more like a caricature every day. In the first place, it’s not a Ukranian war. We have to abandon that propaganda narrative that we’ve been aiding and abetting. It’s not a war where “the Ukranians did this, the Russians did this, the Ukranians, the Russians…” and on and on. That’s not what’s happening. It is--and has always been--a proxy war of the combined west against Russia. Absolutely every bit of that is true.
And now even the word “proxy” is getting to be a little creaky. Because all they are using is foreign investment in weapons: missiles that shoot farther, uranium depleted weapons. All those things are overseen by NATO and by the US.
You now have the President of Ukraine going to the Germans. To ask *The Germans* to be the greatest provider of weapons in his fight against Russia.
Is this 1939? Is W.H. Auden going to write about this? Is Stepan Bandera actually alive? What is this? The trouble is that this is exactly what it is-- to replay of the end of World War II. Which, let’s be honest—let’s be completely honest—didn’t quite end the way the west wanted. From that space which the Nazis share. ALL the Nazis! I don’t mean the German word “Nazi.” I mean it sounds cool, and it’s fun to say the word, Nazi! Nazi! Nazi! But Nazi isn’t a German tradition. And they certainly weren’t the only Nazis around!
In fact, they shared all that space with Bandera, with half the aristocracy of the British Empire, with all the great titans of American corporations who were building up Hitler to ruin Russia. This is what happens with exceptionalists, supremacists. It’s okay to kill the people who live on the land you want to take. And you can flip Auden either way you want from that time until now: “I and the public know./ What all schoolchildren learn,/ Those to whom evil is done/ Do evil in return.”
This is what is happening. And what is going to happen. The ending is no different. The movie is the same. The Russians (Soviets) lost 27 million people. And it might as well have happened yesterday. The same people are providing the same weapons to the same people (with the details slightly tweaked). These are the Somozas! This is the very origin of the Proxy. Older than Somoza. Older than SAVAK. Older than settlers in South Africa—well maybe not, I don’t know. But certainly Bandera is revered in this corner, in this northwest corner of Ukraine, for “making it free from 1939 to 1945.”
How? By slaughtering tens of thousands of Poles, Russians, Jews. Friends of Hitler! Friends of Hitler have never been enemies of the United States in its policy machinations. They’re the first ones they went to! And one of the first things they do is to demonize the hell out of anything that has to do with those people targeted. The attack--the slaughter—on Russian language, Russian tradition, Russian history. Is mindblowing. So much so that Americans don’t even know how brain dead they are. And they should. I mean, if so many of us come from Ireland, and we had to suffer historically what the British do. Which is sell the narrative that says Ah, the Irish are all drunks anyway. And they’re lazy. And they’re most likely terrorists. So we just march in with Cromwell and slaughter them all. And take that land!
So you always have the resonance of that war, of World War II…all the wars come back and feed into each other. What the Wolfe Tones sang in the 80’s: Cromwell’s men are here again! England’s name again is sullied in the eyes of honest men.
And it is ridiculous to think that you can change that. That history is just the long arm of a clock that if you have enough necons running things and enough capitalists on your payroll, you can stop that hand. You can move it! Guess what? You can’t.
And the Russians know it. What are you going to do? Bring in all sorts of long range missiles? Well, we’ll blow them up where they are. These go 300 or 400 kilometers? Then I guess that is how far we have to push in. None of this shit is going to be a threat to Russia. Period.
Americans? The neocons who run things? They don’t understand that. Partly because they come out of this tradition. The King of England! Was pro Nazi. He had to abdicate partly because of that. Truman said Eh, if the Russians win, we’ll help the Germans, and if the Germans win we’ll help the Russians. Today. Today, in 2023, there is a woman sitting as an advisor to President Biden, who actually said you know what? Hitler might have been controversial, but no one really sings his praises for fighting communism to the death.
What is this? Its okay to be soft on Hitler now? Then what the hell was that all for? Ah, we know. We know what it was all for. And guess what? It had very little to do with communism. I’m sorry. I don’t buy that. I know that that is the narrative. But it’s about Russia—it’s not about Lenin, Stalin, or even Marx. It’s about Mackinder! It’s about The Heartland. Abou preventing anyone from uniting that central part of—fast-forward now--Russia and China. And that is the threat! And the irony is that these people are so arrogant, and so full of themselves that they can’t see that they have made that even more inevitable than time itself. Russia and China are now joined at the hip because they know their existence depends on it.
These wars are not proxies. These are fingers of a LONG armed puppet. They are dangerous. And they are threats everywhere. So just like you do at a dinner party with friends you don’t really like or trust. You nod and smile. Find the exit. And jump and run to it—quick as you can—when it feels like you’re in danger. And—unknowingly, apparently--that is what the west is facing. They can’t help it. It is the demise of their control for the last five hundred years. It will yield incredible shortages and difficulties for the hundreds of millions of us who live under the western regime. But the party is over.
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The former will be “managed”, coordinated and supervised for faultless implementation, by the so-called Central Bank of Central Banks, the Bank for International Settlement (BIS); the latter by the 1948 Rockefeller-created, falsely called UN-agency WHO. The emerging tyrant’s budget is to 80% pharma, Gates and otherwise privately funded. Both are criminal organizations.
These are plans, not yet implemented. But the world better be aware, so We, the People, may stop this terrifying assault on humanity in its tracks.
CBDC may be upon us, humanity, rather sooner than later. Programmable CBDC is a weapon of mass destruction. The weapon has been in the planning for decades – and it fits right into the Bigger Picture of the Great Reset / Agenda 2030.
Programmable – means the money can be programmed on how it is to be spent by an individual, or blocked, or made to expire, or made to be used for certain goods or services – or it can be totally withheld, wiped out, depending on how well you behave, according to the standards of the all-commandeering death cult elite.
CBDC is a master control element, a stranglehold on the population.
Simultaneously, an all controlling health tyranny is being prepared by WHO. The plan is that the new totalitarian rules – Biden Administration initiated revised International Health Regulations (IHR), including a new Pandemic Treaty – are to be ratified by the World Health Assembly, presumably by the end of May 2023. If approved, by a two-thirds majority, the new rules will become effective in 2024.
Health Tyranny and Control by WHO
The elite who pretends to rule over humanity acts most silently from the shadows. It includes the financial giants, the largest funders of the World Economic Forum (WEF), the Davos Boys. The financial elite calls the shots on integrated and willing Klaus Schwab, WEF’s CEO.
In turn, Mr. Schwab passes on instructions to the World Health Organization (WHO), for example, to redesign and implement the revision of the IHR which now also includes a Pandemic Treaty.
First, Bill Gates, also one of the key sponsors of WHO, puts a shady Ethiopian politician, Tedros Adhanom Ghebreyesus, at the helm of WHO. Tedros, a buddy of Bill Gates, is former DG of the GAVI Vaxx-Alliance, also created and funded by the Gates Foundation. – So much for WHO being a UN Agency.
If these new IHR / Pandemic Treaty are approved by the World Health Assembly at the end of May 2023, the world (currently 194 WHO members) will be living under a “health tyranny”.
WHO would have overreaching powers over otherwise autonomous countries, being able to overrule national Constitutions and decide whether a disease must be treated as a pandemic, i.e., with massive vaccination.
For example, WHO could decide that henceforth the common flue must be treated as a pandemic. Since “covid”, any “vaccination” will be the gene-modifying mRNA type. The same viral-technology that has, with covid inoculations, caused already tens of millions of deaths around the world. Of course, not openly recognized, but over-mortality statistics, especially in the western world, alias, Global North, speak for themselves. They are congruent with the countries’ vaxx-injection rates.
People have no clue that when they next take their kid for a polio, or measles vaccination, their child will be injected with a potentially deadly mRNA-type toxic solution, producing immune-averse spike proteins. See this by Dr. Mike Yeadon, former VP and Chief Science Officer of Pfizer.
Total Obedience
To assure utmost obedience of countries, Klaus Schwab has on several occasions boasted that the, the WEF was able infiltrating scholars of the WEF “Academy” for Young Global Leaders (YGL) into governments around the world. They often are placed in Prime Minister’s or President’s positions. To name just a few of the more prominent ones – Justin Trudeau, Canada; Emmanuel Macron, France; Mark Rutte, Netherlands; former German Chancellor Angela Merkel; as well as Olaf Scholz, current Chancellor of Germany.
Central Bank Digital Currency (CBDC) – Welcome to the New Money Prison
The decision to introduce CBDC so-to-speak at warp speed was made at a Jackson Hole, WY, meeting in August 2019 by the Central Bankers of the G7 nations. They voted on a financial coup which was “Going Direct Reset”.
This was planned way ahead for at least the last 20 years, and now needed to be consolidated for the final stage of total and absolute financial control – the end game of the coming world tyranny. First applied by the Global North, where the impact will be greatest. See brief 1 min. video by Katherine Austin Fitts, it says it all.
It is weaponizing money into programmable and controllable CBDC – a Weapon of Mass Destruction.
The rest of the world will follow suit. That’s what they think. Destruction of the industrialized world is first. Germany is supposed to lead deindustrialization of Europe, prompted by artificially caused energy shortages. Then comes the absolute control of the world’s natural resources – so that reconstruction of the system, with a drastically reduced world population, may progress rather fast.
The US / NATO Ukraine proxy-war against Russia is a forerunner aiming at dominating Russia and her wealth of natural resources.
Governments and banksters are the people’s biggest, most nefarious, but least recognized enemies. How much longer does it take until a majority of people will wake up and stop this crime on humanity?
According to Katherine Austin Fitts, the introduction of CBDC, may put half a billion people out of work. That is just one part of the warfare. It is intimately connected to the plandemic. People did not die of covid, most perished from toxic vaxxes and from “covid” caused misery.
Dr. Michael Yeadon, former VP and Chief Scientist of Pfizer repeatedly said in his interviews and special addresses, the real, potentially massive dying, of the coerced vaxx-campaign – will take place after three and up to about ten years from the beginning of the vaxx-drive. Injections of mRNA material into people’s bodies began in December 2020. We are now entering year three. And hundreds of thousands, if not millions, around the world have already died due to the “vaxxes”, NOT covid.
Today, truth-seeking scientists and medical doctors warn – “don’t get vaxxed, it is dangerous for your health, the jabs may kill you.” If not, they may maim you for life, or reduce massively women’s and men’s fertility. The latter shows already up in statistics – in Europe from 20% to 40% reduced fertility in 2022. Yet, worldwide vaxx-drives go on – a bulldozer stopping from nothing.
How to weaponize money?
A threesome tyranny – a “trinity”, is at it. The WEF and it’s behind the scene giant financiers; the Governments, and the banksters, through a network of national central banks, all controlled by the Bank for International Settlement (BIS), in Basel, Switzerland. The “health industry” – Big Pharma, health- and hospital facilities and insurances are following the line with digitized health records and digitized health services.
The 2019 G7 Jackson Hole decision on massive bank failures to bring about CBDC, started in early March 2023 on a relatively light note in the United States. The opening was the apparent collapse of California’s Silicon Valley Bank (SVB), California’s Silvergate Capital and NYC’s Signature Bank. None of them really needed to go into bankruptcy. They were “bailed out” by the Biden Administration, put in control of the “Regulator”, before rumors of failure could trigger a run on the bank.
We know how “rumors” can be fabricated or enhanced and how they may mobilize people.
On the other side of the Atlantic, Credit Suisse, second largest Swiss bank, had been plagued for the last two decades by scandals and “financial irregularities” one after the other, including drug money laundering, and helping Russian oligarch escape western sanctions by “disappearing “ documents linking them to their luxury yachts which were supposed to be confiscated.
Since earlier this year, the bank’s share value plummeted, first by the week, then by the day. For a complete list of financial scandals and more, see this.
Much of the loss of confidence was, again, based on rumors – and rumors can be spread – true or false.
There was never a need to put CS into receivership. The bank, according to many analysts, also FINMA (the Swiss banking “regulator”) was solvent, especially after CS supposedly received on Friday, 17 March, a 50 billion franc “bail-out” loan from the Swiss Central Bank.
According to insiders (CS analysts)- and outsiders, this amount of cash would have been enough to restructure the bank, including quietly getting rid of undesirable skeletons – regaining trust of people and shareholders – and be functional again within less than a year.
However, there may be another agenda for the sudden change in direction, during the weekend, 18/19 March. Janet Yellen, US Secretary of Treasury, UK and German senior Ministry of Finance officials were in “consultation” with the Swiss Minister of Finance.
Outside pressure again cut into Swiss sovereignty politically and in terms of Swiss reputed private banking services.
What happened then, is the complete opposite to what the 50 billion “bail-out” should have achieved. One may ask, was the CHF 50 billion government “bail-out” just a disguise?
In an apparent sudden change of direction, the Swiss Government, without any consultation of shareholders and holders of some CHF 16 billion worth of bonds, forced UBS, the largest Swiss bank, to take over its slightly smaller sister, CS. Even stranger, this happened by applying a shady emergency decree. CS was never in an emergency of insolvency.
CS shareholders had to accept a take-over price of CHF 3 billion, about CHF 0.76 / share, less than half its last quoted share value. The bank’s infrastructure alone is worth a multiple of the take-over price.
On Sunday, March 19, the Swiss regulator FINMA announced that the so-called additional tier-one bonds (AT1) of about CHF 16 billion will be written to zero as part of the deal. Neither the shareholders or the bondholders were warned.
This precipitous coerced deal has not gone down well in Europe. A famous law Professor at the Swiss Fribourg law-specialized university, called Switzerland a “Banana Republic”.
The conservative Swiss newspaper NZZ reported on 19 March 2023 that a few months ago nobody would have believed the downfall of CS was possible. In 2007, CS had a stock value of over CHF 100 billion. It was gradually reduced to CHF 7 billion, less than a week before the decreed take-over. The paper concludes that Switzerland got rid of a Zombie-bank, but acquired instead a Monster-bank. After the merger, UBS will have about 5 trillion worth of managed assets. Compare this with about 10 trillion of BlackRock.
Instead of a 50 billion bailout credit – which would have been paid back, the new deal costs Switzerland about 230 billion – a 200 billion Central Bank line of credit, of which hundred billion are fully guaranteed by the Swiss Government (taxpayers), plus a 9 billion guarantee (taxpayer) for UBS losses, plus other guarantees in case of defaults.
As a sideline, the Swiss Central Bank, on 5 March declared one of the biggest losses in its recent history, of CHF132.5 billion. You add to this a potential loss position of another some CHF 100 to 200 billion – that makes you think – what else is planned to wipe out this debt?
The major CS shareholders may launch a massive law suit against the Swiss Government. Saudi National Bank (10%), Saudi Olayan Group (5%), plus Qatar Holding (5%), hold together about 20%. For these oil-producing countries legal fees may not be an issue, but creating a precedent will be important. BlackRock with about 4.1% CS shares stays for now on the sidelines.
Looks and smells like all of this has been planned by a long hand. Remember the G7 Central Bankers meeting at Jackson Hole, Wy in 2019?
Financial Times and Forbes report that there are about 200 small-to medium size US banks “at the brink” of collapse. The Credit Suisse collapse, one of the world’s 30 systemically most important banks, also one of the “Too Big to Fail” banks, rescued by the Swiss Government, may just set the beginning of a massive domino of bank failures in the US and Europe. See this.
BlackRock’s Vice Chairman, responsible for Investments, Philipp Hildebrand, is the former President of the Swiss National Bank (forced out in 2016, because of a personal scandal), then joined BlackRock. He knows how the wheels turn in Switzerland.
The Biden Administration’s rule of order, ignores the 2010 Dodd-Frank Act that eliminates government bail-outs and opened the door for bail-ins, allowing banks to confiscating creditors’ money and converting it into equity. If this government bail-out policy continues, a never-seen before government debt will accrue. The same may apply in Europe, amassing potentially hundreds of trillions of national debts, on both sides of the Atlantic.
This would be the ideal moment to introduce at once in the western world – US, UK, Canada, Europe, but also Japan and Australia – programmable Central Bank Digital Currency (CBDC).
These countries’ combined 2022 GDP amounts to about US$ 50 trillion equivalent, almost half of the 2022 world GDP (US$ 103.86 trillion). See this (World Bank data).
Within the shortest period of time, the western US-dollar-based economy’s debt could be wiped out with one stroke – with a new kind of money, the CBDC. With another stroke, the entire ignorant western population could be doubly straitjacketed – by WHO’s Health Tyranny, as well as by programmable CBDC.
It is high time that We, the People, around the world gain consciousness and become aware of the dictatorial measures waiting just a short stretch down road to be implemented. Then, the bulk of The Great Reset / Agenda 2030 would have been achieved. Once that happens, it will be difficult to escape.
It is time that We the People, request our governments to exit WHO – in Switzerland a referendum to this effect has already been initiated – and that we are prepared for setting up parallel governments with local money, totally delinked from existing banking and central banks.
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