For the first time in my career, I see the international establishment, sometimes called the New World Order, facing a crisis so large that its very survival is at stake. For the first time, these people are scared.North is absolutely correct here.
There are not many of them. In his book, Superclass, author David Rothkopf estimates that there are only about 6000 people at the top of the pyramid of world power and influence. They are mostly males, and at least a third of them have attended America's most prestigious universities. Most of the others have attended comparable universities in Europe.
The crisis in Europe is clearly beyond anything that this generation of establishment leaders has ever seen.
From time to time, I talk to some of the people who are among these 6,000, one who is perhaps in the top 100. They are scared, very scared. When I talk to them about Europe, they often immediately point out that the U.S. is not far behind in terms of crisis.
Indeed, they think crisis will hit U.S. shores any time between tomorrow morning and a few years from now, but they do expect crisis to hit.
Gary North's column is just about Europe, but it is a must read, since he has it pretty much nailed as to the key elements of the crisis. You can find the column here.
When Communism collapsed, it did so on a worldwide scale for everyone to see. As Gary North pointed out in another recent article, the idea of Communism is as dead as a doornail.
ReplyDeleteI think what we're seeing is a comparable collapse with fiat money & central banking.
Obviously, it isn't enough for one country (or even several) to suffer from monetary collapse. Zimbabwe and Argentina obviously haven't made a dent in the fiat psyche.
But if there is a worldwide collapse it will be very hard (and hopefully impossible) to explain away.
May central banking and fiat money suffer the same fate as Communism.
Sound money is sitting and waiting.
It is often pointed out (correctly) that the elites think long-term.
Gold and Silver will outwait even them.
These people being scared means bad things for the rest of us.
ReplyDeleteIf you were to climb a mountain, and find a sage at the peak, it would be Gary North. Smart, historically sure, honest, insightful, brains and brawn. He's the man. Coffee and Gary are synonymous. My day maker.
ReplyDeleteNorth is the renaissance man of libertarianism. He's conquered adversity, and even worse, ridicule.
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