Capitalist Eric, Not Much Time Left…

March 18, 2023 James Fetzerblog

Capitalist Eric

Truth is treason in an empire of lies.

So the question was posed to me last night:

Now that we finally have a major situation unfolding and the dominoes are officially falling. I trust your analysis of timelines. My main question is time. I’m not holding you to anything. I believe you’re all about Truth, and extremely well grounded in reality. Time my friend. How much time do we have left? And are you envisioning a rapid or a prolonged deterioration from here?

The short answer is, “nobody knows.”  I understand you’d prefer a more solid answer than that, but the problem is that nobody has any real idea..  Frankly, I’m surprised we’ve made it this far.  This shouldn’t be a surprise, as I’ve previously posted my opinions, basically saying “any day now…”

Events are moving so rapidly, now, with the failure of three banks in the past week, and the desperation moves by the Federal Reserve to keep the house of cards from collapsing, are now obvious. Cracks have been seen in the dam for quite a while; now the spider-webbing is accelerating, water is starting to escape.

I’m still of the opinion that the banks will do a “banking holiday” on a Friday, preferably before a 3-day weekend, as that’ll prevent people from having anyone to actively protest for at least 3 days, while the politicians figure out what their “story” will be…  and get their own pay-offs.  The next 3-day weekend for the USA will be April 7-9, 2023.

But if things are falling apart at a much faster rate, it’ll obviously be earlier.  I don’t believe it will be a slow grind, happening over years…  but over a period of weeks to a few months, before the crash-and-burn is over, and we’re left fighting to survive.   While the conditions and overall events will be largely the same as what has happened throughout history with all fiat currencies, the speed at which things are occurring are much faster; another byproduct of technology, information-sharing and alternatives to government-controlled MSM.

Understand, though, the Federal Reserve probably won’t be a direct trigger of the economic collapse.  They have established the conditions, so that it will happen, and cannot be avoided.  Michael Yon made a great point, using forests as an example: if you want a forest fire, you just let undergrowth be uncleared, fail to manage it, and then have a nice hot summer, and the conditions become such that a forest fire WILL start, whether due to careless campers lighting a campfire or a lightning strike from a summer storm.  Once the conditions are set, it WILL happen, regardless of what the actual spark is.

I summarized in “Crash Positions,” the results I expect to see as the financial collapse gets into high gear. Instead of me rehashing it, I would ask that you please read it in its entirety.

The conditions are ripe for dollar collapse, due to a loss of confidence in the USA:

1. The EU is fracturing, as Germany will be forced to face the fact that they’ve been sacrificed like a Bishop on a chessboard, in the Ukraine conflict.  They will be forced- sooner or later- to leave the EU and NATO, and go to Russia, hat in hand, to beg for gas.  They will do this, or they will die.  It really is that simple.
2. Once Russia pulverizes Ukraine- due to really get rolling at any time now- NATO will no longer be viable, and the European coalition will fail.  The individual leaders will be forced to face that the USA is no longer the “good guy” but very much the “baddie,” and that they’ve been used and abused.  Public opinion regarding the USA will swing negative, the dollar losing standing along with it.
3. The Afghan withdrawal debacle has eroded trust from Saudi Arabia, who is now accepting other currencies than the US dollar for oil…  This is no surprise.  What WILL be a surprise will be when Saudi Arabia (the progenitor of “Operation Sand Man”) repudiates the dollar.  This is especially likely now that China has brokered a peace deal between Saudi Arabia and Iran.
4. Given the war-footing that China is on, to retake Taiwan, prior to the start of operations, they will cease all shipments of goods to the USA, weakening the USA with supply-chain disruptions, before “festivities” start over Taiwan.  They may- at the same time- repudiate the dollar, which would (again) erode confidence in it as the worlds’ reserve currency.
5. Since all of the BRICS+ nations have been trading their US dollars for physical gold, there will come a time when pretty much all of the dollars held by the other countries will have been converted to gold (at prices artificially suppressed by the US government), at which point the international repudiation of the dollar will commence., and then it’ll be “game over.”

One economist I was watching stated the dollar will be done when people no longer have faith in it.  They may come as a results of bank-runs and financial collapse, it may come via war, as China and Russia go kinetic against the USA and all the other countries stuck in the Western financial Ponzi scheme, or it may be something which we haven’t even considered.

The full impacts of this economic collapse will be brutal, especially so on the Western countries who’ve lived under the thrall of the fiat-banking systems for the past 200 years.  The price to be paid, in my opinion, will end Western civilization as we know it.

Those people who specialized in liberal-arts degrees, enjoy arguing the merits of “democratic socialism” versus “national socialism,” are “woke,” believe a man can- through sheer willpower- transform into a woman, or vice versa…  Those people who “identify” as whatever ridiculous demographic of the day, or have an entitlement mindset and believe in “white privilege,” all of the people who take their kids to LGBTQXYZ++ “pride” events, are doomed to become worm-food, prematurely.

Life is going to be tough, and people who are demonstrably weak-willed sheep will be slaughtered pretty much out of hand.  They lack the mental fortitude to stand up for anything, and will be unable to save themselves, much less civilization.

Something to keep in mind is that the Western countries- members of the EU, NATO, Japan and the UK- all use fiat-money systems, yet they produce nothing of consequence.  All told they make up a population of ~1 billion people; the other 7 billion people are represented by the BRICS+ countries.  So it’s simply a matter of time before this happens.  Something we always assume, is that China will absolutely INSIST on being the new worlds’ reserve currency…  but that isn’t actually needed.  They just need to make sure the dollar isn’t it, and that would be enough.  Nobody will switch to the Euro or the GBP or the Yen, because they’re all worthless, too.

Some unambiguous signals that the Shit has truly Hit The Fan, are:

• The FDIC has no more funds to insure banks accounts, and the Federal Government is unable to recapitalize the FDIC (for whatever reason)
• The first “too big to fail” bank does fail, and the government cannot stop it with whatever tools they have available (this includes international banks such as Credit Suisse)
• China halts all exports to the USA.
• China, India or Saudi Arabia repudiate the use of the dollar for international trade.
• Germany leaves the EU and/or NATO.
• The US mint stops all sales of gold to private buyers.
• The US government declares “martial law” in the USA.
• The US government activates the National Emergencies executive orders where they take over everything, and the citizens are now slaves.