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.