The Free Flow of Currency and Technocrat Feudalism in Globalization Era Brings Out the Disaster of Capitalism!

The Banking System all over the world is taking the route of printing money to fulfill a fantasy that economy will forever booming and going up. Since the end of WWII, United States has playing the role of helping its allies and countries all over the world to maintain peace by organizing an economic collaboration with organization like WTO, World Bank and IMF. U.S play the role of trade deficit country to absorb the exports from most other countries. But as time goes, US has outsourced most of the factories and jobs oversea. Its harrowed out economy, and with its $37+ trillion debts can no longer have the capacity to take on the role as trade deficit country. United State government has for years run of deficits, and we can see all over the world, the debt phenomenon is everywhere. Veteran Economist of many books, Michael Hudson another perspective. He explains how U.S. balance-of-payments accounting masks real money flows—military spending, “foreign aid,” transfer pricing, and rentier gains—letting America earn without paying. Alongside his host Karl Fitzgerald, they unpack dollar hegemony, GDP fictions, and what BRICS must do to break free.

So there is no such thing as free trade. It is a class war and national competition brewing! 中国犯的这个致命“原罪”，让世界开始“抛弃”中国. 中共不仅利用低人权吸引欧美投资赚了很多钱，中共还把中国工人的工资低的原因全部甩锅给欧美资本家的压榨. 而具有讽刺 意义的是中國領導人的家人，全部挾鉅款移居西方國家了。这些中國領導人的家人都不相信中国。这么多人的一个国家，居然玩的全民躺平，不愿意消费，不愿意结婚生子，这是多大一种绝望。 秦晖：中国走向宪政的压力、动力和阻力。任剑涛被封演讲：中国经济会无预警崩溃！国家已被权势集团挟持！

The paper money, or fiat money, and the banking system all over the world are creating credit out of thin air, are among some of the root cause of the chaos we observed. Globalization, and free flow of currency has tremendously heighten the imbalance, mis-allocating resource to a scale of catastrophe. Democracy in United States and the world has never been threaten to such an extent since after WWII. Populism thus arising in many countries, with Christian nationalism and Zionism misled people as Jesus believers.

The 0.01% has anticipated this upheavals for decades. They had been cooking on a pandemic plan for years. And that was how Covid-19 turmoils came into being, which so far has caused 7.1 million death worldwide (69% death in USA), and tons of side effects by vaccines. Central banks and the government that complicit with them took this opportunity to printing more monies and causing the inflation to be absorbed by the commoners. This is Robert Baron looting !

Then the Oct 7 2023 Hamas – Israel War caused the further deterioration of this situation. Printing money out of thin air and put the burden to the government and tax payer to shoulder the burden is the cause of continuing upward the gaps of inequality and class divide between the 0.1% and the rest of people all over the world. The paradox is each country has a border governed by laws and regulations that adhere to certain social contacts of its citizens. But globalization with easy money flow all over the world is cause turmoils by exploitation of the bankers and 0.1%. there are four entities of the banking system: 1) Treasury, 2) Central Bank, 3) Commercial Banks and 4) Private Non-Banks. These financial system manipulation which has created extraordinary powers that defy reality and common sense, is producing endless string of economic disasters. But it seems the mainstream economist got private money creation wrong, explained Professor Steve Keen explained the mechanism by which the central bank sets the interest rate.

Yanis Varoufakis is former Greece Prime Minister, and a economist. His analysis addresses the economic problems that arose after Donald Trump’s re-election. He emphasizes that the policies implemented after the election ignored the problems faced by the people. It takes a deep dive into how Trump’s promises clash with the contradictions within the system and what this means for society. The trouble is even more serious than even he expected.

Elon Musk had advocated about cutting government jobs. And with U.S bond crashing, Trump is considering further cutting of government agencies. But I heard the Disability Benefits actually has many fraud. it is the one most deserving to cut. The situation we are facing now is very similar to the 1930s when Austerity is bring out the Fascism in Italy and Germany.

Austerity -The History of A Dangerous Idea written by political economist, Professor Mark Blyth, in 2013, had pointed out the huge pediment going this route. The burden of financial crisis of 2008, and series of chaos afterwards had produced skyrocketing debt all over the world. and that burden now takes the form of a global turn to austerity, the policy of reducing domestic wages and prices to restore competitiveness and balance the budget. The problem, according to Professor Blyth, is that austerity is a very dangerous idea. First of all, it doesn’t work. As the past four years and countless historical examples from the last 100 years show, while it makes sense for any one state to try and cut its way to growth, it simply cannot work when all states try it simultaneously: all we do is shrink the economy. In the worst case, austerity policies worsened the Great Depression and created the conditions for seizures of power by the forces responsible for the Second World War: the Nazis and the Japanese military establishment.

As Blyth amply demonstrates, the arguments for austerity are tenuous and the evidence thin. Rather than expanding growth and opportunity, the repeated revival of this dead economic idea has almost always led to low growth along with increases in wealth and income inequality. Austerity demolishes the conventional wisdom, marshaling an army of facts to demand that we austerity for what it is, and what it costs us.

Another groundbreaking examination of austerity’s dark intellectual origins is from author, Clara E. Mattel, of New School of Social Research. Her well researched book in 2022, The Capital Order – How Economists Invented Austerity and Paved the Way to Fascism, explores the intellectual origins of austerity to uncover its originating motives: the protection of capital—and indeed capitalism—in times of social upheaval from below. 

Mattei traces modern austerity to its origins in interwar Britain and Italy, revealing how the threat of working-class power in the years after World War I animated a set of top-down economic policies that elevated owners, smothered workers, and imposed a rigid economic hierarchy across their societies. Where these policies “succeeded,” relatively speaking, was in their enrichment of certain parties, including employers and foreign-trade interests, who accumulated power and capital at the expense of labor. Here, Mattei argues, is where the true value of austerity can be observed: its insulation of entrenched privilege and its elimination of all alternatives to capitalism. 

The Death of Democracy: Hitler’s Rise to Power and the Downfall of the Weimar Republic is the reminder of the history which is not so far away. With Ukrain Russia war, the world is already hanging in the balance of drones and nuclear bomb. Now Taiwan, with its computer chip production leading the world, is selling like the armament ammunition, which can further causing the tendency of destruction. And that is why we do not see the semi-conductor productions as a positive sign for the world peace. The three poisons of Greed, Hatred, Ignorance, as pointed out the lower human nature are currently running rampant. This state affairs defy common sense and normality of a divine order. The world belong to collectives. No minority should wedge unreasonable power to exploit other people’s freedom for their self ship self enrichment. What goes around and comes aground. There is cause and effects of wrong doings! And I think majority of the people agree that we do not want the earth become a living hell again.

The worldwide destructive force since Industrial Revolution had led to the two wars with the Earth became the battle ground. Currently the technology and AI development potentially repeating those destructive trends. With resource huge disparity among the have and have-nots, the class clash is heating up. The Cryptocurrency had used enormous amount of energy in mining. Easy Money – CrytoCurrency, Casion Capitalism, and the Gloden Age of Fraud takes the reader on an journey to explore the mayhem of the cryptocurrency madness. It tell the astounding story of how actor Ben McKenzie and journalist Jacob Silverman realized long before most of the rest of us that cryptocurrency was a scam and set out to take it and all of its promoters down. A bizarre cast of swindlers and scammers persuaded millions of people to take leave of their senses and part with trillions of dollars.

Semiconductor chips also had become armament among the international competition. Its production had consume large quantity of clean water causing the depletion of nature resources, not to mention instability all over the world. Unemployment is rising everywhere with the deployment of AI. Alas the stock market continue its carnival of the looting all over the world, and thus increase the organized crimes – causing severe tensions everywhere the capital sweeping through. Maybe production on the land to grow food and return to the traditional life style can offer a alternative to this deadened fanatics. People can live in community and grow food together. Complicity in helping the big corporations and banks to cause the huge rift of society, government should not avoid its responsibility to to offer new revenue of livelihood. Please do not let Hoover’s laissez-faire approach repeat the same mistake.

This is also a time for us to question many economic policies which use mathematical model and abstract exercise of technocratic detached thinking. We need to rethink and reevaluate many economics presumptions, challenge the limit of the framework of a dominate economic system which many mainstream economist does not know how to answer the question of so many puzzles. Maybe part of the issue is economic thinking should be grounded on real life, and provide answer to people why this system is not working and how it could fix it for a future that is sustainable.

Renowned Chinese author Yu Hua’s book, We Live in a Huge Gap, offers a key observation of our times, examining the vast rift we find ourselves in through six dimensions: time, space, spirit, discourse, creation, and destiny. This isn’t about bridging the gap, but about seeing and understanding the root of the rift, and thus help finding perspective and the strength to relieve. Here is a Heart Sutra in Sanskrit song with Chinese, English and Japanese captions. Hope it help you cool down and remind us the essence of our existence.