Das Zeitenwende: Fail To “Friend-Shore” In 2023, Prepare For Gotterdammerung In 2024
“The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants.” (Thomas Jefferson)
Summary:
· Das Zeitenwende is on the New York Times 11/30 Orthodox Advent Calendar.
· Post 11/30, the US strategy has pivoted from containment of China to offensive intentions and capabilities.
· The Eurozone banking sector has manipulated itself into a pre-GFC situation.
· The German Economic Blitzkrieg that the author found in the EU’s Rumsfeld Quadrant is actually called Zeitenwende by Chancellor Scholz.
· US “Friend-Shoring” doctrine is dividing and conquering the EU.
· The EU is playing along with US “Friend-Shoring” in order to frame it as the reason for deeper economic and political union.
· The joint communication strategy, of the Franco-German central banking leadership, would appear to have assumed control of the ECB, in place of the missing Lagarde.
· The joint Franco-German Eurozone economic leadership would appear to have assumed control of the banking sector consolidation, and deeper economic integration strategies, in place of the missing Lagarde.
· The EU is talking up a banking sector crisis in order to enable the consolidation solution.
· The BIS is defining the Knowns, in the Fed’s Rumsfeld Quadrant, but has not yet identified the Eurozone as a threat.
· Wall Street is doing the same thing with CLOs that it did with Subprime Mortgages before the GFC.
· Inflation has significantly reduced profitability and tightened liquidity in the US financial sector.
· The US financial sector was in recession/rightsizing mode for more than a year before the Fed started to tighten.
· The Fed Listens to the Large Banks and ignores the decimated Community Banks and their decimated communities, at the risk of its independence.
· The Fed and the US financial sector have shrunk current, and potential, economic growth so much that any increase in aggregate demand will be immediately inflationary.
· A Federal combined fiscal and monetary policy stimulus is required to counter the headwind from the US financial sector.
· The rats are leaving the Tory ship of state.
· The new Labour Reform Act is not the Global Blair Inc. Witch Project in disguise.
· Post-War/Post-Colonial/Post-Brexit Britain, in its current hour of need, is, as befits a small nation, not only a victim of President Biden’s personal leanings but also of the partisan political dialectic and global agenda in America.
· Britain is not a nation, it is a small ad hoc “Friend-Shored” US Global Supply Chain node.
· The Special Relationship is now between master and slave.
Das Zeitenwende: 2023 Resolutions ….
It’s all getting a bit Wagnerian, at the moment.
· America has officially had a Wartime President since October 12th, 2022.
· The not independent Fed has been obliged to officially execute Patriotic Monetary Policymaking decisions taken by the Wartime President since October 12th, 2022.
(Source: the Author)
With the year coming to a close, preparations are being made for 2023, and the 2024 US Presidential election. This author has, also, observed that America has had a Wartime President since October 12th. There’s a lot of wood to chop. Some countries may get chopped up in the process. Such is the way of things when one is dealing with an Apex Superpower in the Thucydides Trap.
President Biden is wielding his terrible swift “Friend-Shoring” sword and axe. The EU appears to be being chopped up into smaller nations by the said axe.
Britain has been axed from the developed nations’ tree of liberty!
The Germans have named this fin de siècle, Das Zeitenwende. This hyperbole seems less apocalyptic than Gotterdammerung, although the material difference in the final outcome may be trivial.
No place for Old Tweeters ….
President Biden appears to be intent on youthfully reinvigorating his re-election campaign with some Kennedy pzazz. Unfortunately, his latest attempt seemed over-populated and hence diluted, with aging Rockers and aging contemporary Rat Pack members.
· FTX-gate and Biden-Kennedy Spin historically resonate with “Tweet Throat”.
(Source: the Author)
This author has previously noted that the Kennedy Clan elan is both apposite, and dangerous, for Biden. Elon Musk has also understood this dialectic and is working it to his own strategic advantage, or so he believes, through revelation from the “Twitter Files”.
The “Twitter Files” and Das Zeitenwende were synchronized, back on 11/30, by the New York Times, in what this author termed as Orthodox 11/30 Advent. This author believes that it will be possible to trace events and timelines in 2023, and 2024 back to the observed 11/30 datum.
B21B2C : From the Halls of Montezuma …. Via the Hordes of Kyiv…. To the Straights of Taiwan ….
· The potential EU-USA trade war should be viewed in the context of China’s Belt, Road, and Skin in the Ukraine/Russia proxy Taiwan wargame.
(Source: the Author)
Post 11/30, and in light of the latest Chinese move, to drive a wedge into the Western Alliance, over Ukraine, this author suggested that it would be important to look out for the US riposte. The terrible swift sword of the Republic slashed back immediately, with the unveiling of the B21B.
To mark the flashing, of the stealthy blade, Defence Secretary Austin opined that the bomber will play a key role in America’s intentions and capabilities to extend its military edge over China in the ASEAN theatre of war.
Classically speaking, Secretary Austin is saying that the Thucydides Gap will be widened. An effective widening, of the said gap, can be computed as a strategic victory in combat value terms. One hopes that this computation will be fought on paper and not in reality.
Thus, one can conclude, with some degree of certainty, that America has moved, from containment to offensive posturing toward China. China will not be contained, anymore, it will be defeated. Offense may be viewed as the best defense of Taiwan. President Xi Jinping may have other ideas.
Despite all assurances, by global leaders, to the contrary, the global threat level has risen since 11/30. Perhaps the elevated threat will be a deterrent to the bad actors. Perhaps not.
The unique behavior of Germany clearly evinces the rising global threat level and elevated risk of negative surprises.
Dial + (49) 11/30 for extension German Zeitenwende: Deutschland Unter is the New Uber Alles ….
This author previously stated that the 11/30 advent of rising global tensions began in New York and the Eurozone. On that day, the Eurozone contemporaneously had a spate of embassy bombings, in Madrid, that represented casus belli.
President Putin certainly seems to have been stirred into action by 11/30. Perhaps he had a hand an invisible hand in the events, of that day, in Madrid. His response has been to reiterate that Russia retains the prerogative for a nuclear first strike.
The rising global threat level has catalyzed the carefully constructed reasoning behind the rising German rearmament, which has now been officially recognized as a national strategic priority.
For obvious historic reasons, Germany must be seen as acting rationally towards the escalating global threat level. Germany, therefore, talks the rational talk but walks a completely different irrational walk. So, nothing has really changed, then, since Germany’s Twentieth Century performance.
The 11/30 prelude, to the latest German strategic move, involved the recognition of the Holodomor genocide, by the German parliament, in addition to an initiative to defend the Nordic supply route of Gas to Europe.
The 11/30 embassy bombings can be conceptualized as symbolic of the Reichstag Fire. The recent official policy announcement, from Chancellor Scholz, is, therefore, the contemporary democratic version of the historic Enabling Act.
Scholz, like President Biden, is now a War Chancellor but, apparently, he will not act like a dictator. He will not have to, if there is popular support, for his behavior, however grotesque it may be.
· American Democracy repelled the January 6th, 2021 attack only to surrender, quietly, to the Gang of Two, on October 12th, 2022.
· The US Gang of Two now faces the Chinese and Russian Gangs of One.
· It is not obvious if US National Security Strategy has been redrafted by global events or has prescribed them.
(Source: the Author)
This author would remind the readers that America recently also had a similar grab for power by the “Gang of Two”. So, President Biden is a Wartime President and leader of the “Gang of Two” who seized power by stealth, guile, and the US National Security Strategy documentation, on October 12th. The gang has recently enabled on 11/30.
· The French Maginot Line is extended on three fronts.
(Source: the Author)
President Macron has also reconfigured French national security positioning recently. This reconfiguring should be seen in the wider context of the reconfiguring by the Wartime US President and the Wartime German Chancellor.
The widening strategic context does not stop there.
Even pacifistic Japan is getting in on the re-armament bandwagon.
Hence, one can see that Germany is not the lone global aggressor. This may not, however, make the lone observer sleep any better.
· History is rhyming again in Germany’s Rumsfeld Quadrant of the Eurozone’s next down-round capital raising event.
· German Economic Blitzkrieg may be found in the EU’s Rumsfeld Quadrant.
(Source: the Author)
This author has watched the rational escalation, of what he terms Prussian Militarism, with a mixture of shock and awe. He has been called paranoid as a consequence. He has been called much worse things, in his time, so this paranoid criticism is taken as a complement to his imaginative vigilance.
Evidently, Chancellor Scholz does not think that the author is paranoid. Apparently, the Chancellor simply seeks to allay fears that it could all degenerate back to the usual outcome of Prussian Militarism. Germany has been very clever about allaying fears. The nation has consistently fallen behind in military spending until it has been prompted into rearmament by its allies. Thus, they asked for it.
Chancellor Scholz recently explained the rationale of the German imperative to his global audience. Germans always have a special word for something specifically German. The new word is “Zeitenwende”.
Zeitenwende is the current Zeitgeist.
Some German nut-jobs, clearly motivated by the Zeitenwende Zeitgeist, already had plans for a far-right coup d’etat at an advanced stage. These people are not street thugs, they are educated professionals. One wonders what else lurks out there awaiting its moment to pounce. This event clearly demonstrates that the capacity, and the propensity, for Germany to revert to Twentieth Century stereotype are significant.
Germany’s European neighbors are worried by what they see as a repeat of the national introspection that, historically, portended Nazism. As they worry, presumably, they will gravitate towards America, for reassurance, if history is any guide.
In this author’s opinion, Das Zeitenwende may have lofty, and sincere, intentions but it will get diverted, by the nationalists, if and when the bullets start to fly and German blood gets spilled. At this point, one usually gets what the Americans like to call “the Surge”. At this surge point, one gets peak militarism, peak body count, and also peak atrocity. Russia has just gone through the same evolution.
· Germany has queue-jumped the EU and the USA, in armistice negotiations with China which may lead to an Axis of the Resource Poor/Manufacturing Rich Two.
(Source: the Author)
This author has noted that the Germans, for historical, and geographic reasons have always been more circumspect, and less gung-ho, than the French, about the global position of Europe in relation to the USA. Having seen Chancellor Merkel duped, in the same way as President Macron, by President Putin, over Ukraine, German circumspection is well warranted. Consequently, the Germans have, tentatively, sought broader, and deeper trade and diplomatic links with both America and China.
Chancellor Scholz is, clearly, keen not to be seen as rattling his saber at President Biden.
After the recent flashing of the US stealth blade, Germany appears to have decided to stay on the blunt side, of this edge, in a position that does not directly challenge the widening US military gap, and its important manufacturing supply chain. Germany will, thus, buy US F-35s and avoid tensions from promoting a Eurozone equivalent to the recently unveiled B21B cutting edge.
Securing what it thinks is the safe side of the US global blade, Germany then conceded to allow France to control the development of the next-generation Euro-fighter, that will supposedly outfight the F-35.
Thus, Germany appears to be strategically balanced, between the USA and the EU. Germany also has its industrial base embedded in both the US and EU aerospace supply chains. Germany may, hence, feel that it is hedged geopolitically and economically. This hedge, however, also strategically compromises Germany. Sometimes it is easier to be an Apex Superpower, at the apex of the supply chains, than a “Friend-Shored” provider.
Germany is not the only Eurozone nation that is being “Friend-Shored”. The Netherlands has just signed “Friend Shoring” heads of terms, with the USA, to the detriment of its relations with China.
Just as the Europeans thought that they had achieved autonomous strategic balance, America has “Friend-Shored” and, thereby, destabilized the balance. America has, apparently, decided to tip the European balance of military power back in its favor. The method deployed is indirect by the use of proxies. Japan, Britain, and Italy have been deployed as sponsors of a rival Eurofighter project, in which America is taking a keen interest. Japan, as noted previously, has just returned to military expansion, so America is using this as leverage against the EU.
A pattern is emerging in which Europe is being divided, and conquered, by US “Friend-Shoring”, on a nation-by-nation basis, despite the EU’s attempts to negotiate collectively for all European nations involved. It is clear that, when it comes to trade and ordnance, America remains the Apex Superpower. As will be discussed later, Britain has recently found this out to its chagrin.
America is also an Apex Superpower, in economic terms. By default, therefore, “Friend-Shoring” will have a negative externality impact, on the Eurozone economy, by which Apex Superpower status will be preserved. The Eurozone is playing along, to some extent, because a catalyst for deeper economic integration, that would make the Eurozone an economic Apex Superpower, is desired by the architects of the Eurozone Project. The catalyst requires financial instability and economic weakness. US “Friend-Shoring” could then be cited as the reason for the Eurozone strategic economic weakness that necessitates deeper economic integration. The Europeans are playing a dangerous game. This is real trade war stuff, that can get out of hand if it is mishandled.
There’s no fire without some smoke and mirrors (reprise): A pattern emerges ….
When the President of the Bundesbank and the Governor of the Banque de France co-author a panegyric, to Franco-German solidarity, in each other's most famous daily newspapers, one instinctively knows that there is trouble at’Mill in the Franco-German Alliance. What the two are not saying is what they are really saying.
(Source: the Author)
This author has observed a pattern developing in which the dissonant guidance, from an ECB Governing Council at war, is being overridden by the joint communication of the Bundesbank President and the Bank of France Governor.
· Chaos and anarchy reign, over the ECB Governing Council, and there is nothing that Christine Lagarde can do about it.
(Source: the Author)
In the last report, Christine Lagarde’s absent leadership of the rabble was noted.
The joint communication strategy, of the Franco-German central banking leadership, would appear to have assumed control of the ECB, in place of the missing Lagarde.
The latest joint communication evinced the joint determination to return inflation back to target. This author believes that there are ulterior motives in addition to this general directive. The command-and-control function wishes to consolidate the Eurozone banking sector, around its joint core, and, thereby, control the process of deeper economic integration going forward.
This assumption of command and control can, thus, only mean one thing to this author.
· There’s “trouble at’Bank” in the Eurozone.
(Source: the Author)
The joint communication strategy, of the Franco-German central banking leadership, would appear to have assumed control of the Eurozone banking sector consolidation, and deeper economic integration, strategies, in place of the missing Lagarde.
The joint commanders have, in the author’s opinion, communicated the cover story for the consolidation strategy. The cover story is ensuring an inflation return to target. Getting there will involve economic pain, and misery, for those who are intended for consolidation.
The Bank of France sees inflation back at target circa 2024/25. This view means that 2023 will be the year that consolidation is attempted. This author believes that this attempt will be noisy, and will involve a financial stability crisis in the Eurozone.
The European Union is also, gently, shaking the consolidation tree. Without naming countries, and bank names, the EU recently opined that many Eurozone banks are going to struggle to repay the ECB’s emergency loans as they are clawed back. The EU suggests that the banks should address this liquidity shortfall by increasing deposits and/or raising capital provisions.
This author notes that in a potential financial crisis, depositors will not trust the banks that need the extra deposits. Aux contraire, there will be bank runs away from the banks who need the extra deposits.
Based on these observations, the author concludes that the EU is, basically, putting targets on the banks and the countries selected for consolidation. The EU is, in fact, talking up a crisis in order to enable the consolidation solution.
· If the ECB and the EU intend to trigger deeper banking sector and economic integration, with QT, Grexit proves otherwise.
(Source: the Author)
The author also notes that whenever consolidation has been attempted, in the past, it has failed. What usually happens is that the ECB ends up bailing out the consolidatees and expands its balance sheet in the process.
· Far from avoiding a Eurozone financial crisis, callable/extendable bank debt will trigger one.
(Source: the Author)
A further signal of the impending financial instability crisis has emerged from the Eurozone banking sector. Previously, the banks had been observed to be calling their bonds, in order, to extend the duration of their balance sheet liabilities.
Recently, the banks have been extending the size and duration of their assets by, effectively, bailing their underwriting business units out with a capital infusion from the proceeds of their recently extended liabilities.
Furthermore, whilst expanding their assets, and extending their durations, banks have also been buying the AAA tranches of their own CLO deals. The recession-challenged assets, hence, still remain on the banks’ books but they have been securitized.
According to Morgan Stanley, this strategy is compelling. What Morgan Stanley, probably, means is that it is doing this and, therefore, wants it to become common practice. Once it becomes common practice, there is less chance of it being labeled fraudulent manipulation, of asset prices, in order, to fraudulently misrepresent financial accounts in the banking sector.
This dubiously conflicted behavior, whilst it may be legal, reveals that there are no buyers available for the highest-rated tranches in the capital structure of Eurozone companies. The banks have to securitize these assets and then park them on another part of their balance sheets. Since they have been securitized these assets require less regulatory capital. The risk to the bank concerned remains the same, however, so in fact, the same level of capital should have been retained. If any readers are making connections to this practice and the Special Purpose Vehicles (SPVs) that hid toxic mortgage waste, before the GFC, they are correct to do so.
If there is no interest in the AAA tranche, what chance do the weaker credit-rated tranches have?
Furthermore, what chances do the equity investors, patiently, waiting at the end of the bankruptcy chain have?
The banks are manipulating the prices of the assets on their balance sheets, to feign solvency when there is, clearly, no liquidity and/or demand in the capital markets. By buying up the AAA tranches of loans, the banks hope to drag up the mark-to-market value of the rest of the rubbish, in the debt capital structure, that they cannot sell.
Wall Street is betting on the Fed pivoting. There may, however, have to be tangible failures and greater financial instability to trigger the desired response from the Fed.
Pushing on the Pivot ….
Whilst they have been massaging and manipulating, their balance sheets, the US banks have been communicating that inflation and rate hikes have peaked. They have also been communicating that China is re-opening, thereby, preventing a global recession. A Chinese re-opening should be inflationary, however, thereby, guaranteeing further interest rate hikes. Thus, it can be seen that the banks have been saying anything that talks their books, even when what they say internally conflicts. The banks are desperate for a soft economic landing, or for the Fed to stop tightening and start easing.
The banks have also telegraphed their devious intentions and capabilities, to manipulate their own share prices, by cutting compensation expenses. Evidently, it is not bankers who are creating bank shareholder value but, rather, it is bank executives who are manipulating bank share prices. Any fool can do this. Fools’ heads will roll in 2023.
Currently, the Bank for International Settlements (BIS) is directing attention, elsewhere, even away from the Eurozone. Focus is being directed towards the “blind spot” of off-balance sheet FX swaps.
· Central bankers are admitting their failures, by varying degrees, to pave the way for more failures.
· The Fed is pretending to be in Rumsfeld’s Quadrant of Financial Instability by accident.
· The Fed has deliberately understated financial instability risk because to correctly address it would mean immediately easing monetary policy.
· The Fed dreams that it can officially prorogue financial instability risk for another six months.
(Source: the Author)
Such attention and focus, clearly, circumscribes the Fed’s tightening potential. It may, however, be the Eurozone that triggers the Fed’s easing potential. This author has observed the Fed in a position that he calls the Rumsfeld Quadrant of Unknown Unknowns. The BIS is currently defining what the Known Unknowns are for the Fed.
For readers who want to look at the health, or, rather, lack, thereof, of the US financial system, the Kansas City Fed’s Q3 banking conditions survey says it all. It all ain’t good for the US economy. But it all ain’t a crisis, just yet, either.
The losses on US bank balance sheets threaten potential insolvency ahead. The Fed’s balance sheet losses also indicate the potential insolvency of the asset buyer of last resort. The Fed must, therefore, ease to bail itself out, before it can consider bailing out the financial sector in the event that a bailout is needed. Fortunately, the banks are some way away from insolvency, because they have been preparing for the current situation for some time. Whilst the banks hunker down, their lending ability has diminished. With diminished bank lending potential, there is diminished potential, for economic growth, going forward.
The asset valuation losses, in the US financial sector, are a curb on further credit creation and hence economic activity. The Fed is, therefore, incrementally tightening on thin ice. It is, thus, reasonable to conclude that inflation has been a massive headwind for the US financial sector. The banks, in effect, have been preparing for the day when the Fed takes the easy money away. This day has arrived and the banks are taking the losses that they have prepared for.
What this author finds the most interesting, about the Kansas City Fed banking conditions data, is that US financial sector profitability was on the decline, throughout 2021, when the economy was supposedly recovering. This decline in profitability was at an advanced stage, well before the Fed even started tightening.
It is not the case that the US financial sector is a financial stability problem right now. Far from it. The US financial sector has downsized and prepared for an economy with lower growth potential. The Fed is currently eroding the growth potential of the economy, further, as it allegedly brings demand lower, back into line with lower potential growth. Between them, therefore, the Fed and the financial sector have shrunk the US economy and its growth potential. Any rise in aggregate demand will, hence, immediately create inflation because the economy has no supply capacity to meet it.
Banking sector assets have stopped growing, hence, the economic stimulus has stopped. The Community Banks have been decimated, by the COVID experience, which implies the same for the communities and local economies that they serve. Thus, the Fed has exacerbated the inability of the financial sector to support the economy, especially at the community level. When the Fed Listens, it, clearly, does not hear the Community Banks and the communities that they serve.
The Fed, clearly, listens to the Largest Banks perhaps, therefore, the US central bank will respond to their plight and hence indirectly to that of the Community Banks.
The growth potential and any potential economic stimulus from the US financial sector have been scaled back. The only way out, of this mess, is a combined Federal fiscal and monetary policy stimulus. The Federal Reserve and the Federal Government are way behind the growth curve.
In particular, the Federal authorities need to reach out to and support the devastated Community Banks and the communities that they serve.
Presumably, President Biden’s “Friend-Shoring” stimulus is intended to raise the productive capacity, of the US economy, so that disinflationary economic growth can occur going forward. Clearly, something needs to be done about immigration to mitigate wage inflation. Alternatively, technology can be leveraged to create the disinflationary supply-side stimulus needed.
· The Fed Listens, and responds, to Key Signals in order to Constitutionally Comply with the 13th Amendment.
· Raphael Bostic is Constitutionally Compliant and only 75 to 100-Basis points away from pausing.
· Being Constitutionally Compliant does not mean that the Fed is employment mandate compliant, anymore, as the mass layoffs in the technology sector grow.
(Source: the Author)
This author has suggested that the Fed is going to struggle, to remain independent, going forward. The Fed’s best chance, of remaining independent, is through ticking the boxes on Constitutional Compliance, since the current Stagflation puts the two Congressional mandates at odds, with each other, in monetary policymaking terms.
The latest indications are that Congress is seeking deeper transparency from, and control over, the 12 Fed Regional Banks. The devastation of the Community Banking sector, and its communities, will no doubt give Congress greater leverage in this battle for control of the Fed.
If financial conditions are weakening in the US, and weaker in the Eurozone, then, they are weakest in the UK. The UK is also experiencing the harshest “Friend-Shoring” heads of terms from the Apex Superpower.
I’m a Tory MP, get me out of here ….
Britain was a microcosm of all that went wrong during COVID. Poor governance met kleptomania at the lowest and highest levels. The money that was not politically squandered, in the COVID response, was stolen. The squandering and stealing losses, to the economy, were exacerbated in price terms by the gouging which amplified the inflation numbers beyond levels that the weakened economy could sustain.
This author has noted that the Oligopolists were stealing, earlier this year, thereby driving up inflation and boosting their returns. It seems that they were not the only ones. In the UK, the invisible hand, of the Her Majesty’s Government was dipping.
· The rekindling of the symbiotic Special Relationship is pending the tall New World Order of the permanent sacking/resignation of the Butler, the conviction of the Oxford Apostles, the UK re-joining the EU, the closure of the VIP Lane, and India leaving the BRICs.
· The rekindling of the symbiotic Special Relationship is also pending the syncretic bicameral Anglo-Saxon political cleansing simultaneously occurring on either side of the Atlantic.
(Source: the Author)
It now seems that the HMG Dippers have finally been called out. They have still not been arrested yet, however.
A recent poll has found that the Tories are now viewed as exclusively self-serving by the British public.
’Twas ever thus, in this author’s opinion, and the British public has been exceedingly slow-witted, in coming to this conclusion, in his estimation. Currently, this author believes that the government is busy shredding documents, sabotaging what is left of the economy, and stealing, in preparation for an extended period in opposition.
In a stark, almost brutal, contrast to Dishy Rishi, Gordon Brown may still lack charisma; but he is not a thief. Neither has he lost his perspicacity over the years. So highly esteemed, is the integrity of Gordon Brown, that he is a regular feature on the global policy speech circuit. His words and his views carry great influence. In many respects, he has become the tortured soul of Britain.
It is now time for this tortured soul to do a wee bit of torturing.
Based on his relative integrity, Brown’s recent analysis that the current UK Government is “the most corrupt in at least a century” should be taken seriously. Given the corruption of Labour’s “dodgy dossier” moment, this is a bold assertion. To be fair, that dodgy moment, exclusively, belonged to Tony Blair and not the Labour Party in general. Maybe Brown was also alluding to some unfinished business of his with Blair. Brown has never publicly broken ranks with Blair, over the “dodgy dossier”, but one senses that he has never forgiven his old partner either.
Brown has also recently launched a Labour initiative to build a new social contract from scratch. It promises to be the biggest change to the UK political governance system since the Reform Act.
This author notes that it is interesting that, the Labour Party has chosen Gordon Brown, and not Tony Blair, to launch its ambitious new reform campaign. This is not surprising, since Blair and JP Morgan’s CEO Jamie Dimon have their own, alternative, ideas about what the new British social contract should look like within a global context. This author has dubbed their idea the Global Blair Inc. Witch Project.
Dimon was recently dubbed, by President Macron, so one may assume that the Global Blair Inc. Witch Project is progressing nicely. It is generally assumed that Dimon got his new French spurs, from Macron, as a reward for relocating JP Morgan’s trading hub from London to Paris. This move should be seen within the context of the Global Blair Inc. Witch Project objective to turn Brexit to its advantage. London’s loss weakens Britain and opens the door to American salvation.
American salvation recently arrived, in terms of energy security, with the signing of a huge LNG deal.
American salvation, in relation to Brexit, is a mixed blessing for Britain. Beggars, however, cannot be choosers.
A United Ireland is a dream that, like his inspiration JFK, Joe Biden holds close to his heart. This dream may soon become a waking reality. Consequently, Brexit negotiations are tinged with a hint of Biden’s innate Fenian intentions and capabilities, whenever America gets involved. America, hence Biden, has just escalated its involvement in Brexit and the Irish Question.
Biden recently advanced the Nationalist cause, and US entanglement, in the Irish Question, with the re-appointment of a US envoy in Ireland.
Biden’s Gaelic Nuncio, “Mick” Mulvaney sounds like he paints houses as they say. He didn’t paint the White House for his Mob’s Boss, at the time, President Trump though. “Mick” is a Republican, and hence, a rare bipartisan re-appointment, who allegedly resigned from the position “just before” the Capitol was stormed.
Evidently, the Irish Question is a bipartisan issue that unites Americans and can, therefore, help Biden unite the nation. Britain, in its hour of need, is, thus, not only a victim of Biden’s personal leanings but also of the partisan political dialectic in America.
Britain has become a small nation, indeed, to be sacrificed in this way. The sacrifice of Britain enjoys broad support, from either side of the House, which means that it can be enshrined, and legislated, easily, into American foreign policy.
In relation to negotiation, HMG does not have equivalent diplomatic parity with the US Federal Government. Britain is viewed as lower than a State, or a region, in the wider American sphere of influence, which must take its chances with those other supplicants at this diplomatic level. Consequently, Britain is now negotiating trade deals, ad hoc, with the US States, rather than the Federal Government. Britain has, thus, been “Friend-Shored” as part of the US supply chain.
This author would say that there is absolutely no pecuniary motivation for America to improve the terms of trade, for Britain, in its new “Friend-Shored” position. As with other satellites, Britain will be a debt and production slave of the United States. Henceforth, going forward, Britain will be kept on the cusp of failed state status to enforce the Carthaginian heads of terms of “Friend-Shored” trade. Britons ever, ever, ever shall be slaves to America. The Special Relationship is now one between master and slave.
To all intents and purposes, therefore, Ireland has been devolved, as far as America is concerned. British interest in Ireland will, therefore, get rolled up into American interests in a trade deal with the EU and Biden’s opus dei of a United Ireland. The Pope will be pleased and Biden may one day be canonized.
Nicola Sturgeon will be watching President Biden assume de facto political control, of Britain, with keen interest. She will also be looking for Clan Biden descendants, living in Scotland, who can cut a deal with POTUS for Scottish independence and EU membership.
This author is pretty sure that Clan Biden could find some Welsh roots, if it looked hard enough, on Ancestry.com, also, so he expects similar independence initiatives to, now, flourish in Wales. This is especially likely to happen after England thrashed Wales, at Footy, in the World Cup.
Readers will have noted that just as it was forced to relinquish, its colonies, as a condition of US support, during and after World War II, America is now militating for the last vestiges of the British Union to be broken up as the consideration for today’s bailout package.
In financial and economic terms, Jamie Dimon has already weakened London and Britain. Watch what he and America do next. Keep your eyes on Blair too.
This author’s thesis is that a financial crisis will befall the Eurozone soon. This crisis will then elevate the position of the US Dollar, and the American economy, globally. Weakening London, as a financial center, and then weakening the Eurozone would all seem to fit nicely with the American “Friend-Shore” agenda. In effect, Britain and the Eurozone will have been “Friend-Shored”.
New Labour’s latest new social contract deal, and the Labour Party, will, hence, also fall victim to America’s broader “Friend-Shore” policy towards Britain. Perhaps, one day, Brown and Blair will settle some old scores. This author would not bet on Brown, though, if and when they do.
Brown’s narrative implies that there will be legal consequences for the HMG thieves. At least £47 Billion Pounds has gone missing, without a proper accounting record. It may be the biggest crime in British history.
Maybe some of the thieves will be joining the same penal colony, in Rwanda, that they are so fond of sending criminals to. Evidently, some of the thieving-elite are very worried and, so, are heading for ratlines similar to those used by escaping Waffen SS criminals.
The “Right Honourable” Sajid Javid has always been a cut above his colleagues when it comes to staying ahead of scandal. Javid recently announced his intention to stand down as an MP at the next election. Things must be bleak indeed. This author also notes that convicted criminals are barred from political office. Recusing oneself does not, necessarily, remove oneself from investigation and indictment.