End of Sovereignty

 The End of Sovereignty – Restoring the Ancien Régime

Just as the financial collapse was carefully managed, so was the post-collapse scenario, with its suicidal bailout programs. National budgets were already stretched; they certainly did not have reserves available to salvage the insolvent banks. Thus the bailout commitments amounted to nothing more than the taking on of astronomical new debts by governments. In order to service the bailout commitments, the money would need to be borrowed from the same financial system that was being bailed out!

It’s not that the banks were too big to fail, rather the banksters were too powerful to fail: they made politicians an offer they couldn’t refuse. In the USA, Congress was told that without bailouts there would be martial law the next morning. In Ireland, the Ministers were told there would be financial chaos and rioting in the streets. In fact, as Iceland demonstrated, the sensible way to deal with the insolvent banks was with an orderly process of receivership.

The effect of the coerced bailouts was to transfer insolvency from the banks to the national treasuries. Banking debts were transformed into sovereign debts and budget deficits. Now, quite predictably, it is the nations that are seeking bailouts, and those bailouts come with conditions attached. Instead of the banks going into receivership, the nations are going into receivership.

In his book, Confessions of an Economic Hit Man, John Perkins explains how the third world has been coerced over the past several decades – through pressure and trickery of various kinds – into perpetual debt bondage. By design, the debts can never be repaid. Instead, the debts must be periodically refinanced, and each round of refinancing buries the nation deeper in debt – and compels the nation to submit to even more drastic IMF diktats. With the orchestrated financial collapse, and the ‘too big to fail’ scam, the banksters have now crossed the Rubicon: the hit-man agenda is now operating here in the first world.

In the EU, the first round of nations to go down will be the so-called PIGS – Portugal, Ireland, Greece, and Spain. The fiction, that the PIGS can deal with the bailouts, is based on the assumption that the era of limitless growth will resume. As the banksters themselves know full well, that just isn’t going to happen. Eventually the PIGS will be forced to default, and then the rest of the EU will go down as well, all part of a controlled-demolition project.

When a nation succumbs to debt bondage, it ceases to be a sovereign nation, governed by some kind of internal political process. Instead it comes under the control of IMF diktats. As we have seen in the third world, and is happening now in Europe, these diktats are all about austerity and privatisation. Government functions are eliminated or privatised, and national assets are sold off. Little by little – again a controlled demolition – the nation state is dismantled. In the end, the primary functions left to government are police suppression of its own population, and the collection of taxes to be handed over to the banksters.

In fact, the dismantling of the nation state began long before the financial collapse of 2008. In the USA and Britain, it began in 1980, with Reagan and Thatcher. In Europe, it began in 1988, with the Maastricht Treaty. Globalisation accelerated the dismantling process, with the exporting of jobs and industry, privatisation programs, ‘free trade’ agreements, and the establishment of the regulation-busting World Trade Organisation (WTO). Events since 2008 have enabled the rapid acceleration of a process that was already well underway.

With the collapse, the bailouts, and the total failure to pursue any kind of effective recovery program, the signals are very clear: the system will be allowed to collapse totally, thus clearing the ground for a pre-architected ‘solution’. As the nation state is being dismantled, a new regime of global governance is being established to replace it. As we can see with the WTO, IMF, World Bank, and the other pieces of the embryonic world government, the new global system will make no pretensions about popular representation or democratic process. Rule will be by means of autocratic global bureaucracies, which will take their orders, directly or indirectly, from the bankster clique.

In his book, The Globalization of Poverty, Michel Chossudovsky explains how globalisation, and the actions of the IMF, created massive poverty throughout the third world over the past several decades. As we can see, with the dramatic emphasis on austerity following the collapse and bailouts, this poverty-creation project has now crossed the Rubicon. In this new world system there will be no prosperous middle class. Indeed, the new regime will very much resemble the old days of royalty and serfdom (the ancien régime). The banksters are the new royal family, with the whole world as their dominion. The technocrats who run the global bureaucracies, and the mandarins who pose as politicians in the residual nations, are the privileged upper class. The rest of us, the overwhelming majority, will find ourselves in the role of impoverished serfs – if we are lucky enough to be one of the survivors of the collapse process.

    Today Americans would be outraged if UN troops entered Los Angeles to restore order; tomorrow they will be grateful. This is especially true if they were told there was an outside threat from beyond, whether real or promulgated, that threatened our very existence. It is then that all peoples of the world will plead with world leaders to deliver them from this evil. The one thing every man fears is the unknown. When presented with this scenario, individual rights will be willingly relinquished for the guarantee of their well being granted to them by their world government. – Henry Kissinger speaking at Evian, France, May 21, 1992 Bilderbergers meeting