No one is better positioned to understand the planned finance-mediated control grid better than Catherine Austin-Fitts, who was trained as a central banker before turning away from the ‘dark side’. The system is ready to go live in two years, so we have only that long to throw enough sand in the gears to force it to fail. We’ll be helped in that regard by the fact that the people attempting to implement it are power-hungry psycopaths who use each other for their own gain, but actually hate each other, and will eventually eat each other alive (metaphorically) in their quest for personal power.
The legal framework is in place in the US for implementing the digital gulag, and in place internationally for the Great Taking (see David Rogers Webb’s work).
The Genius Act provides a pipeline from the treasury into every issuer of stablecoins, while the Clarity Act allows for all financial assets, and later physical assets, to be placed on a distributed ledger, where they will be subject to central control. Stablecoins – a privatised version of central banks digital currencies (CBDCs) – will be ready to go this year. They’re intended to replace all bank deposits, rendering everything in the financial system programmable, and subject to strict central rules. This is meant to usher in a new era of financialisation, with digital tokens traded continuously on margin, with massive leverage, creating a financial bubble-blowing machine of unprecedented proportions. The existing financial system has reached the end of the line, so this is being implemented in order to prevent its collapse, which would otherwise be inevitable in the near future.
This is an imperial project, not confined to the US. Stablecoins are intended to suck all the liquidity out of local banks and local economies around the world and into the US treasury market, in order for the whole world to continue funding the imperial war machine. Small businesses and small farms are to be liquidated, with their assets and market share handed to transnational corporations in a forced scaling up. This is an extention of what happened during the covid practice run. Essentially, the use of stablecoins means substituting US treasury bills for existing currencies, but in a tightly controlled manner. Instead of liquidity being deployed by local banks to fund local economies, it would be used to fund ever more central control. Under the old model, central bankers controlled monetary policy while governments controlled fiscal policy (taxing and spending), but now the bankers want to control both, so the Bank for International Settlements (BIS), which is the central bankers’ central bank, is re-engineering how the entire financial system works.
This is being done by the long term (ie over hundreds of years) banking families, such as the Rothschilds and Warburgs, who own the central banks, with a few exceptions, such as Iran. The existing obligations of central banks will be discarded in favour of direct control by the wealthiest of the wealthy – those with enough capital and connections to remain hidden while pulling the string from behind the scenes. Any semblance of meritocracy will be gone, in favour of cronyism, with successful people not beholden to, or in accordance with, the elites is very likely to be taken down. Catherine Austin-Fitts calls this a channel war, where all activity must pass through controlled channels, including the people allowed to be successful. At larger scale the imperial channel is being established, and ‘leakage’ will not be permitted, especially when the factor not under control also has the means to remain independent and the ability to defend that independence. Iran represents such ‘leakage’, hence the war.
What’s underway is both a periodic financial reset, as bankers always engineer at the end of a debt cycle, and a forced scaling up of business in order to consolidate all control of business in the hands of huge corporations. This time the financial reset is not a reissuing of the currency, but the elimination of currency in favour of glorified food stamps. This is a rationing system for scarce resources, but it isn’t intended to apply to everyone. The elites will, of course, exempt themselves while effectively enslaving the rest of humanity. This will generate tremendous resentment, and likely resistance to the required digital ID system as the foundation for a world of all-digital transactions.
One indication that this will ultimately fail is that trust horizon determines effective organisational scale. This attempted centralising and scaling up is occurring as the trust horizon is collapsing, meaning it will have no perceived legitimacy. Widespread resentment at vast inequality would amplify this considerably. The elites intend to substitute control for legitimacy, but such attempts have a poor track record and tend to end in revolution. Another limiting factor is the dependency of socioeconomic complexity on the availability of energy at a sufficiently high energy returned over energy invested (EROEI). A system trying to control billions of people at the level of the individual would add enormously to the degree of socioeconomic complexity required, but gross production has already peaked, EROEI is falling rapidly, and warmongers are busy destroying energy infrastructure in the Gulf. Even the ongoing attempt by the elites to reduce the population (through disease, deprivation, famine, and converting the ‘surplus’ into cannonfodder) would probably not be enough to bring the number down to a ‘mangeable size’. For these reasons, it seems predictable that the project will fail, but an enormous mess is being made in the meantime that will never be fully restored in a low energy future.
The two current major wars are connected, and may well merge into a full-blown WW3 as additional states are drawn in. Large scale wars have a way of getting out of hand, becoming more all-encompassing, and lasting for longer than the warring parties intended. Many states are already involved, and great deal of destruction is already taking place, notably of energy production facilities, refineries, ports and pipelines. The US, which is trying to cling to empire, appears to believe that they can cause the energy infrastructure of others to be destroyed while retaining their own intact, and then controlling the remaining energy market as a monopoly able to price gouge the rest of the planet. In reality, the US is not energy self-sufficient and will be less so by the year as the fracking industry oeaks and declines. Destruction of overseas energy infrastructure in West Asia and in Russian and Ukraine, will eventually impact the American energy market as well. Such are the foolish acts of empires in decline.
This empire has seen tens of trillions of dollars siphoned off by the rich in the last three decades – 21 trillion missing from government accounts, 29 trillion in bailouts, and five trillion in quantatative easing, as Catherin Austin-Fitts details. This has naturally flowed to the top of the financial food chain. This kind of utter corruption is also characteristic of the end of empire. They may buy themselves some time if the stablecoin plan temporarily succeeds, but the writing is on the wall in any case. A unipolar world in a second American century is not going to happen, as reality catches up with empire.
