James Turk Blog: The Global Reset Scam

James Turk Blog: The Global Reset Scam

Increasingly, people are beginning to realise that their world is undergoing a period of rapid change, with the future of fiat money now uncertain. For most, it is too difficult to even contemplate. But growing uncertainties are driving wild speculation about what those in authority now have in store for the human race in the form of a global reset. It is a time for conspiracy theorists, aided and abetted by our politicians and central bankers who are being increasingly evasive, because events are spiralling out of their control.

Then there is America’s Deep State, or the British equivalent, the more recently christened Blob; an amorphous entity comprised of the permanent bureaucracy with its own agenda. These faceless planners have moved on from merely making ministers’ lives difficult if they deviate from the blob’s predetermined course — immortalised in “Yes Minister” and its sequel series “Yes Prime Minister”.

As we saw with Brexit, The Blob has been rigging political outcomes, even conniving in elections. Christopher Steele, an ex-MI6 officer produced a dodgy dossier on Trump to influence the American presidential election in 2016. But there is no such thing as an ex-MI6 Agent because of the Official Secrets Act, so we can only conclude that the intelligence arm of The Blob sanctioned it on a distanced basis. MI6 works with other intelligence agencies under the five-eyes agreement and is close to the CIA. Though they do not necessarily share intelligence, it is impossible to conceive of Steele’s role in influencing the outcome of a US presidential election without the CIA’s knowledge. Almost certainly, the fact that it was commissioned must have been with the CIA’s blessing.

At the time of writing, we do not know the outcome of the current presidential election, but enough doubt has been thrown on the validity of the voting process to implicate unknown parties in managing the outcome. It can never be proved, but for increasing numbers of sceptics it looks like a Deep State operation. It is therefore hardly surprising that conspiracies abound.

The World Economic Forum

The most prominent of these conspiracies has hit the headlines in recent weeks. Its ambition is to take the lead in resetting the world by dismantling the capitalist system in favour of a greater technocratic rule — a fourth industrial revolution no less, even planting microchips in humans to read their brains and control them. The leader is one Klaus Schwab, whose World Economic Forum runs the annual Davos bunfight.

As leader of the Davos forum, Schwab probably sees himself as the coordinator of world government. If so, at 82 years old he is probably getting impatient about the progress towards his personal vision of ultimate power. The covid chaos and the success of his climate change agenda must be encouraging him to think he is very close to a breakthrough. Alternatively, we might consider Schwab as a latter-day Charles Fourier (1772—1837), the utopian socialist philosopher, whose forgotten ideals were only marginally more narcissistic and bizarre than Schwab’s.

While the great and the not so good love the annual Davos party as a networking venue for the politics industry, when it comes to transferring real power to Schwab, it’s a no-no. The only time a politician transfers power is when he is deposed by his or her electorate, colleagues, or the military. And history is littered with utopians, like Schwab, grasping for power over their fellow men. In addition to Charles Fourier, we can include Georg Hegel (1770—1831) and Auguste Comte (1798—1857), as well, of course, as Karl Marx. As thinkers or philosophers, they were all influential in their day and some of their ideas persist in the naïve.

So, while increasing numbers of well-informed people are beginning to sense the end of the current world order, to assume that this will hasten the WEF’s grab for world domination by influencing events is a mistake. All our deep states, blobs and their branches, particularly central banks, will want to hold onto and enhance their executive power with the political class increasingly cast as cover. The planners at national level are not going to submit to Mr Schwab’s plans for world domination. Instead, international relations involve mutual cooperation to secure purely domestic objectives, something President Trump was in the process of destroying. From the Deep State’s point of view, perhaps that’s why he had to be deposed in favour of Biden, who is a long-serving compliant figure.

Central bank digital currencies (CBDCs)

There can be little doubt that central banks wish to increase their control over money and how it is used, cutting out the obstacle of commercial banks who produce most of the money in circulation through the expansion of bank credit. From a statist point of view, commercial banking is a dinosaur, an outdated remnant of free markets, perpetuating needless systemic risk and superseded by technology. Branch networks will disappear with cash, changing relationships between banks and the general public for ever.

By introducing direct central bank accounts for members of the public and every business, commercial banks become superfluous and can be allowed to die. And if one goes bust before commercial banking has ended, the facility to transfer all its loans and deposits onto a central bank’s books will then exist. The removal of systemic risk by the abolition of commercial banks is one of several likely long-term objectives of CBDCs. Commercial banks can be left with the role of investment banking activities in capital markets.

We can imagine the development of CBDCs going even further than just replacing cash. Stimulation by dropping money into personal accounts can be used to target increased spending by consumers, or even groups of consumers, sorted by wealth, location or other factors. Some consumers can be favoured relative to others, so in a swing state, for example, an incumbent administration might buy votes. While this would be strongly denied, as we have seen with unfettered fiat currency the state creeps incrementally towards unstated objectives, using every tool at its disposal. The election of Deep State-approved politicians then becomes possible.

Eventually, funding of all capital projects will come under the direct control of the central bank. And savings deposits, always seen to be a brake on consumption, can be banished. Capital can be made available for government schemes and favoured businesses on the say so of the central bank.

A future government statement might be issued on the following lines:

“Your Government is pleased to announce that the National Audit Office has approved a number of infrastructure projects targeted at improving communications between administrative centres. This investment over ten years will secure an estimated 500,000 jobs. The cost over the life of the project is XXX billion monetary units. The Central Bank has confirmed it will make funding for these projects available, both to your Government and approved private sector contractors.”

This would be a planners’ heaven. Furthermore, CBDC money can be withheld or frozen for anyone suspected of crimes and tax evasion, starving them into confessions of guilt. The justification is always that it is in the national interest to ensure that financial and tax crimes are eliminated — something commercial banks have singularly failed to do. Overseas payments can be routed through other CBDCs, giving the central banking network control over world trade. Just imagine foreign trade being conducted through a grander version of the Eurozone’s TARGET2 settlement system!

Worried yet? In the advanced economies Covid-19 has nearly eliminated cash, which doubtless is intended to be replaced entirely by CBDCs. The end of cash and bank deposits will allow the central bank to cap the amount of cash anyone can hold, and also ensure that everyone is paid a “living wage”. Already flagged, another intention is to eliminate the burden of interest rates and by controlling where money supply is expanded, manage the economy.

It is commonly assumed that those in charge of us know what they are doing — they don’t. They have become trapped at a socialist endpoint and are doubling down in their efforts towards greater socialism. But their dreams of future control are mere escapism. Individuals will lose yet more personal freedom, but ultimately the state cannot conquer human nature and the will of individuals to do what they want. The Soviets attempted it and failed, despite killing and starving many millions.

Central to the collapse of any state-directed reset will be the loss of faith in fiat currencies, and particularly that of the world’s reserve currency, the US dollar. This remains the case irrespective of whether circulating currency is in cash, bank deposits, or CBDCs. Indeed, the collapse could be hastened by CBDCs, because the intention is to increase the pace of injection of new money into the economy if it is required (it always is), and to impose deeper negative interest rates, which cannot be easily achieved under the current monetary system.

If these statist intentions are allowed to prevail, along with other agendas such as the elimination of cheap and effective fossil-based energy, the outlook for humanity is exceedingly grim. Like communism, the global reset into which the western world is drifting will destroy society. Those who believe in liberal values in the original sense of the term — not the modern socialist connotation — will find themselves welcoming the destruction of the current system before it is evolved any further.

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