DAMBUSTERS – BoJo OUT - Free Speech – Lady 'R' – Hal v Mirror – Resources – GFC 2 – AI Hype – WHO Mafia – UK Gilts – Self-reliance – Woke ESG - Letter from Great Britain - [06-10-23]

Alleged "conspiracy theorists" are just people who question government narratives. (Q)What's the difference between conspiracy theory versus conspiracy facts? - (A)About 6 months.

UKRAINE - The never ending war – THE DAMBUSTERS ARE BACK on yet ANOTHER “D-DAY 2”: June 6, 2023 - does this date ring a bell?  It should do for the Brits & Yanks anyway – 79 years later:  "KHERSON, Ukraine (AP) — A major dam in southern Ukraine collapsed Tuesday, June 6, flooding villages, endangering crops, and threatening drinking water supplies as both sides in the war scrambled to evacuate residents and blamed each other for the destruction."

Exactly 80 years after the 1943 RAF raid on the Ruhr dams. “Operation Chastise”, 16th–17th May 1943 when 19 Avro Lancasters take off from RAF Scampton to smash the great hydro-electric dams of the Ruhr using an innovative new weapon. They would become known as 'The Dambusters'.

Is this coincidence?  I think not, but of course we will never know.  I have a feeling who done it, just like the Nordstream:  "Exactly one minute after the alarms went off at GAZPROM, iCloud records of Prime Minister Liz Truss iPhone, show that she used her iPhone to send a text message to Antony Blinken, US Secretary of State."  The message: "It's Done". It's worth reading the comments.

A day after Ukraine's much-heralded counter-offensive appears to have failed, almost before it had even begun, a major dam in the Russian-occupied region of Kherson is suddenly bombed, prompting mass evacuations as floods spread across the region.

The partial destruction of the Kakhovka Dam on early Tuesday morning saw Kiev and Moscow exchange accusations about who’s to blame, but a report from the Washington Post (WaPo) in late December extends credence to the Kremlin’s version of events.

Titled “Inside the Ukrainian counteroffensive that shocked Putin and reshaped the war”, its journalists quoted former commander of November’s Kherson Counteroffensive Major General Andrey Kovalchuk who shockingly admitted to planning this war crime.  The strategic reason behind partially destroying the Kakhovka Dam on Tuesday morning exactly as Kovalchuk proved late last year is possible to pull off per his own admission to WaPo.  These are some of the risks associated with this catastrophe:

• The safety of the Russian-controlled Zaporozhye Nuclear Power Plant, which relies on water from the now-rapidly-depleting Kakhovka Reservoir for cooling, is now a serious concern.

• The downstream areas of Kherson Region, which are divided between Kiev and Moscow, have now been flooded.

• Crimea might actually be expanded due to the threat that Tuesday morning’s attack could pose to the peninsula’s water supply via its eponymous canal.

• There is a PsyOp warfare component of this attack.

• The defensive situation could become even more difficult for Russia if Kiev expands the conflict by attacking Belarus and/or Moldova

Read more about the strategic adjustments likely on both sides HERE

Sources:

• https://www.theburningplatform.com/2023/06/07/how-does-this-end-well/

• https://www.zerohedge.com/geopolitical/putin-slams-kievs-barbaric-act-1st-public-comments-dam-catastrophe

• https://www.zerohedge.com/political/tuckers-back-triumphant-return-demolishes-ukraine-dam-propaganda-massacres-msm-ignoring

STOP PRESS: BoJo has resigned as MP for Uxbridge & South Ruislip with immediate effect after receiving a letter from the privileges committee about its PartyGate probe.  He released a 1,000-word resignation statement stressing he was "bewildered and appalled" by the privileges committee's drive to oust him from the House of Commons.      

Methinks he protests too much because the facts remain stark: while Brits suffered and died under the wholly unnecessary scamdemic lockdowns, he and his Whitehall mandarins partied and had a jolly time.  I have asked time and again: "What did they know that Joe Public didn't?"  After three years, now we all know the truth, Covid was a globalist’s PsyOp designed to kill economies and people around the world.  I shall never forgive our despicable rulers for their egregious pathological lies and now they pay the price – a complete loss of truth and faith:

NEWS FLASH:  A NEW HMG 'Freedom of Speech Act' went live last month but as usual the MSM and even GB News failed to report such important legislation. The Government’s Higher Education (Freedom of Speech)  Bill became law on May 11 2023 and is a huge step forward in protecting freedom of speech and academic freedom on university campuses.  Not before time but the proof of the pudding is in the eating.

FUN TIDBIT

THOUGHT FOR THE WEEK:  In South Africa you are kept in 'stitches' laughing at all their machinations surrounding the Russian connection. It seems that the Russian ship which arrived in Simons Town (my home port), The Lady 'R' six months ago not only delivered some secret materiel but also loaded up with something else?

Note: 'fokol' is the Afrikaans for our 'F**k All'. Moscow is heavily invested in ensuring that South Africa retains its Russia-friendly attitude. South Africa’s uncritical stance towards Russia in key forums such as the UN, the G20, the AU and BRICS is invaluable to Moscow in the face of the international condemnation of Russia’s ongoing war on Ukraine.

BREAKING NEWS: There is so much news coming in these days, much of it trivia, but more importantly it's clogging up the crucial issues and straining my self-imposed editorial limit of 3,000 words.

Therefore I am introducing a trusted British news consolidator where you can read the important information directly whilst I focus on HMG action, economic, global financial system, and geopolitical issues of the week.  Please follow this link from UK Column which is a truly independent multimedia news website supported by its members.

Prince Hal began his court case against the MSM Daily Mirror on Tuesday which is likely to be revealing over the next few weeks.  I shall be reporting the highlights as the case moves along.

It was reported this week that Harry had been exposed to toxic abuse during his childhood as well as during his military years.  I was not aware of Harry's suffering in his early days and it casts another colour on his behaviour – I shall reserve judgement for now.

We also have the ongoing saga of WhatsApp-Gate with a judicial review considering HMG's case for withholding the direct messages (DMs) of various key ministers during the scamdemic. We haven’t seen the parliamentary inquiry report yet, perhaps it will be buried now BoJo is gone.

BEFORE I VENTURE into the world of global finance, here is a reminder of what the global kabuki theatre is really all about: (spoiler alert: it doesn't include the ‘Not-So-Great Britain’ - NSGB) – Russia is Number 1:

SO where is the ‘NSGB’ in all this? Main points: The total asset value of natural capital in England is currently valued at a pathetic £1.4 trillion in 2020, (78% of the total UK asset value) or nearly 10% of Venezuela's 10th listing! The total annual value of ecosystem services in England was estimated to be £35.7 billion in 2020, (70% of the total UK annual value as at January 2023).  Do you think this pugnacious, dismal little island is punching above its weight?   Read the official HMG/ONS data set HERE  

This begs the question: "How the hell can they get away with it?" Look no further than the City of London and the Eurodollar market.

Thus does one square mile, isolated in the City of London, run the world?  Check out a true explanation: https://www.theburningplatform.com/2022/11/29/did-you-know-that-only-one-square-mile-dominates-the-entire-planetary-civilization/   Welcome to the Big Club!

Sources:

• The estimated $103-trillion question — where do the filthy rich stash their cash? The Maverick

• The medieval, unaccountable Corporation of London is ripe for protest: https://www.theguardian.com/commentisfree/2011/oct/31/corporation-london-city-medievalAmerican Intelligence Media - Cat Report: https://aim4truth.org/

• This is the Globalists' strategy called "The Cloward-Piven Strategy": https://www.zerohedge.com/political/cloward-piven-strategy

• The richest man in the world (and it's not Musk!): https://www.unz.com/lromanoff/the-richest-man-in-the-world/

  

   

THE GLOBAL FINANCIAL SYSTEM IS IN TROUBLE:

According to the World Bank global economic growth in 2023 will slow to the lowest level since the 2008 financial crisis, which was neither short nor shallow, and thus is predicted the beginning of Great Recession 2.0 which I forecast in Chapter 12 - The End of Growth World Bank Group chief economist and senior vice president, Indermit Gill said, “The world economy is in a precarious position. The world economy remains hobbled, besieged by high inflation, tight global financial markets, and record debt levels, many countries are simply growing poorer."

Central Banks and governments created trillions of dollars out of thin air (QE) and showered the world with stimulus, unleashing the inflation monster but now they are battling the stagflation dragon released from its lair by raising interest rates. 'Mish Talk' reports that US Gross Domestic Income (GDI) suggests America is already in recession but the financial gurus won't be acknowledging it until they have too because it's bad for business. But they can't avoid the facts:

The ECB's bi-annual 'Financial Stability Review' says no different.  Last week's release warned that, "as financial conditions normalise, this may expose fragilities and fault lines in the financial system."  The report goes on to note that, "tighter financial conditions are testing the resilience of euro area firms, households and sovereigns," particularly their ability to service debt.

Debt service is an ongoing problem for the global financial system going into 2024. The longer the Fed, BoE, and ECB needs to increase or keep interest rates at ‘high’ levels, the larger the share of debt that becomes subject to rate resets or has to be refinanced, under less favourable conditions.

 The ‘Terrible CB Triplets’ might not be the only villain: [search Ctrl F 'Japan'] "If the Bank of Japan decides to normalise its policy, this might influence the decisions of Japanese investors who have a large footprint in global financial markets, including the euro area bond market."  https://www.zerohedge.com/markets/nightmare-erm-street

And last week in the US an insider talked about the US imploding from within across multiple sectors when he observed:

“It’s not just from within. There is a run on the United States from certain nations and business interests around the world. Just like there was a run on banks after the collapse of Silicon Valley Bank, many nations are either thinking about — or actually proceeding with — transferring at least a portion of their allegiance, assets and commitments from the ‘Bank of the U.S.’ to the ‘Bank of China’ or elsewhere.”

This wasn't just some pundit talking casually about current events. He is a former, high-level US government official, now a CEO on the boards of directors for several companies. He has real-world and business experience and believes America might be in gradual economic decline and this is reflected in the stress felt by banks everywhere.

For banks the following conditions prevail:

• When yields decline, say under QE, the banks gain because bond prices rise, but this reverses under Quantative Tightening (QT)

• When interest rates increase, bond prices decline and crush the bank's balance sheets, and the banks demand a 'bailout at par' because it is assumed that USTs will 'never default' and will be 'money good' when held to maturity.

Thus it might appear that financial institutions can become ‘technically’ insolvent when in fact it is more of a sort-term liquidity deficit. This is why the Fed introduced their new 'Bank Term Funding Programme'. However, the system relies on trust and confidence, if this is tested, investors will make a run for it.  One of many measures of risk in the USA is ‘sovereign risk’ - make your own judgement:

ARTIFICIAL INTELLIGENCE – It's arrived in all its glory however I've been here before and the hype-cycle is following a similar pattern to 1999 – 2001. In the early days of the Worldwide Web (www) investors suddenly realised the hidden power of the internet and went into hyper- excitement mode driving Tech stocks to the moon.

It didn't take long for the market to reverse and the dot-com bubble burst in March 2000, with the technology heavy NASDAQ Composite index peaking at 5,048 on March 10. The efflorescent Internet created a buzz among speculators, who were quick to pump borrowed money into startup companies, and were able to raise funds for IPOs without a business plan, product, or track record of profits – sounds familiar with SPACS today.  Actually, although the NASDAQ was seriously hit by the Dot-com bubble burst, it bounced back by the end of 2002, and in 2015, the market recouped its losses.

Artificial intelligence (AI) is not new. In fiction and reality, machines’ ability to demonstrate human-like learning behaviour and decision-making has been going on for decades. It should be apparent to anyone working in technology that AI  – or more specifically large language models (LLMs) – is squarely in the “hype” phase of the hype cycle which is similar to the 'grief' cycle when suffering any form of loss.

GLOBAL DANGER AHEAD: The World Health Mafiosi (WHO) is extending its war against humanity with Digital IDs, Vaxx Passports, and a Global Health Take-over due 2024.  They are ably supported by the ranks of the ‘Bankster Battalions’ armed with their CBDCs. The WHO has said it will take up the EU's Digital COVID-19 vaccine passport framework as part of a new global network of digital health certificates.  The WHO said in a June 5 statement that it had entered into a “landmark digital health partnership” with the European Commission (EC), the EU’s unelected executive totalitarian Technocrats.

This new ‘vaccine passport framework’ has already drawn criticism from Australian senator Alex Antic saying in a statement that the move is “just another conspiracy theory coming true.”  The WHO said it will “take up the European Union (EU) system of digital COVID-19 certification to establish a global system that will help facilitate global mobility and protect citizens across the world from on-going and future health threats.” If you believe this, I have a bridge to sell you.  Read more detail HERE and Kit Knightly on TBP: HERE

As if this wasn't enough, there is another storm brewing on the horizon: the dark clouds of teetering currencies, fragile monetary unions create worrisome economic weather reports.  This isn't new: for years, various institutions have been pooling their best talents to come up with an answer, a means of weathering the coming worldwide financial turbulence with survival tools.

I shall be writing more about the Digital Global Financial System next week. In the meantime, for those with an inquiring turn of mind, may wish to check out my book, serialised in 2018-20, which explains how and why our global economy is failing. https://austrianpeter.substack.com/p/the-financial-jigsaw-part-2-the-end?s=w

INFLATION WATCH: Last week I spoke about the BoE's misplaced monetary policy of interest rate increases.  Wolf Richter has taken a close look at UK inflation and its effect on HMG economic management - aka Fiscal Policy  - defined as the use of government spending and tax policies to influence economic conditions, especially macroeconomic conditions.

Overall CPI jumped by 8.7% in April and in response the BoE raised its policy rate by 25bps, to 4.5%, over two percentage points below the April “core CPI” rate!  This is known as 'negative real interest rates' which means investors are losing money hand over fist. Central banks generally use this unusual policy tool when there are strong signs of deflation.

An interest rate is effectively the cost of borrowing. This means that lenders charge a borrower interest when they take out any type of debt, such as a loan or mortgage. Although it may seem strange, there are instances where lenders may end up paying borrowers when they take out a loan. This is called a 'negative interest rate environment'.

Now compare these two graphs and see how UK has had negative real interest rates for most of this century with little to no economic growth!  All the politicians are lying to you again. Labour's Starmer, Tory’s Sunak, and every pundit puppy dog are pretending that Britain will grow again. I call BS on this because if it hasn't happened in 20 years I see no way that GDP is going anywhere but down.

The sooner the reality of Britain's dire situation is recognised, the sooner the country will see economic and fiscal policies designed to manage decline and adapt to a 'less is more' approach for this decade.

The UK government bond yield (Gilts), after the inflation news, spiked by 17bps last week and by 30bps in two days to 4.76%, the highest since August 2008.  Gilts are now beginning to price in the higher BoE policy rates than previously imagined costing HM Treasury monthly payments of £10Bn and increasing as we move on to H2.

Sources:

• Will it be Recession or Depression? https://www.zerohedge.com/markets/lowest-vix-pandemic-started-something-deserves-attention

• On the Importance of Deflation and Depressions: https://economicprism.com/on-the-importance-of-deflation-and-depressions/

• Even RT has picked it up: https://www.rt.com/business/577646-uk-inflation-oecd-forecast/

SURVIVAL MONITOR:  In a post a couple of years ago (Is South Africa's Present America's Future?), 'Portfolio Armor' (PA) wrote about why Americans need to watch South Africa.   It's worth paying attention to a country which prizes its diversity, the Rainbow Nation of South Africa. The thread in the PA link above details the state collapse occurring in South Africa now.  Following that, PA looks at some steps Afrikaners are taking to survive, lessons that may be useful to minorities (and future minorities) elsewhere. [And maybe the Brits too!]

I guess readers are aware of the decline in working population growth going forward. It is a stark lesson, which the UN tracks, and is the strongest indicator yet of economic decline in the developed world.

Sources:

• Military Profiteering and South Africa’s Arms Dealings: https://www.globalresearch.ca/mischief-making-pretoria-moscow-washington-foreign-trade-policies/5819868

• Second Major Railway Grinds To Halt In South Africa: https://www.zerohedge.com/geopolitical/second-major-railway-grinds-halt-south-africa

• That centre-pole of the circus tent is the wobbling global economy: https://kunstler.com/clusterfuck-nation/who-can-you-trust/

THE NARRATIVE BATTLE:  When the Dylan Mulvaney Woke controversy exploded last month Bud Light’s in-store sales fell 11% in a week.  YoY sales fell even faster dropping 26% and the decline continued into May despite ad blitzes and marketing gimmicks that included $20 rebates on a $19.98 case of beer – how does this work?

The company is being singled out for doing the same thing other publicly traded companies are doing: catering to the UN Agenda 2030 ESG (environmental, social, and governance) puppeteers who are scoring them on “social responsibility.  ESG scoring is notoriously opaque, but the costs of not playing the game are quite real. ESG funds managed some $40 trillion in assets as of 2022, according to Bloomberg.

One can see why corporate executives chafe under the ESG framework. Instead of focusing on creating value and serving consumers, companies are forced to dance to the ESG piper’s tune and perform whatever social initiatives a tiny cabal of people regard as important.

There was always a danger in "Stakeholder Capitalism", being the decades-old attempt to 'nudge corporations' into serving interests other than their own shareholders and consumers. It subordinates consumers, the very people who should be in charge.  

Matthew 6:24  says, “No one can serve two masters.”  Corporations like Bud Light need to remember who their true bosses are, and it's time consumers reminded them. 

NEXT WEEK I will publish my findings on the prevailing ‘Polycrisis’

For more, read: “The Financial Jigsaw”: Scroll:   https://www.researchgate.net/publication/358117070_THE_FINANCIAL_JIGSAW_-_PART_1_-_4th_Edition_2020   including regular update.

BOOM is published at: Boomfinanceandeconomics Substack - as well as LinkedIn and at WordPress: https://boomfinanceandeconomics.wordpress.com where all previous BOOM Editorials are archived. Also: COVID NEWS Substack: CMNnews-covid-medical-network-news

AUSTRIAN'S NEWSLETTER ARCHIVE: https://www.theburningplatform.com/author/austrian-peter/