by Sundance at The Conservative Treehouse
When CTH outlined the ‘Destination Handbasket’ framework {Go Deep}, we had no idea Blackrock CEO Larry Fink was essentially going to confirm the premise of our prediction. Keep in mind, any digital currency can only work if there is a digital identity attributed to it – what some have called a digital passport which then creates a crypto wallet.
I have based the framework, of what appears to be over the horizon, on a set of inevitable geopolitical outcomes if the current path is continued. The letter by Blackrock CEO Larry Fink [LINK] seems to affirm the strongest likelihood of a western-inspired digital currency eventually replacing the dollar.
NEW YORK, March 24 (Reuters) – BlackRock Inc’s (BLK.N) chief executive, Larry Fink, said on Thursday that the Russia-Ukraine war could end up accelerating digital currencies as a tool to settle international transactions, as the conflict upends the globalization drive of the last three decades.
In a letter to the shareholders of the world’s largest asset manager, Fink said the war will push countries to reassess currency dependencies, and that BlackRock was studying digital currencies and stablecoins due to increased client interest.
“A global digital payment system, thoughtfully designed, can enhance the settlement of international transactions while reducing the risk of money laundering and corruption”, he said.
[…] In the letter on Thursday, the chairman and CEO of the $10 trillion asset manager said the Russia-Ukraine crisis had put an end to the globalization forces at work over the past 30 years.
[…] “While companies’ and consumers’ balance sheets are strong today, giving them more of a cushion to weather these difficulties, a large-scale reorientation of supply chains will inherently be inflationary,” said Fink.
He said central banks were dealing with a dilemma they had not faced in decades, having to choose between living with high inflation or slowing economic activity to contain price pressures. (read more)
You see that problem, that “dilemma” Fink mentions in the last paragraph above. That is what we have been talking about on these pages for more than two years. It is a dilemma western government created when they all joined together and followed the exact same financial path during the pandemic.
When western governments used the justification of the global pandemic to shut down their economies, enforce lockdowns and all of the subsequent rules, restrictions and economic pains as a direct result of those decisions, they put us on a crisis path that was always going to bring us to this “dilemma.” Quite frankly, I do not see that unity of action as accidental, nor do I see it as organic.
All of the western leaders followed the same monetary and financial policy that was being advanced by the World Economic Forum. They all spent like crazy, and provided tens-of-trillions in bailouts, subsidies and cash payments to cover the economic losses created by their COVID lockdowns. They all did exactly the same thing, and that collective action is why we have ‘global inflation.’
Perversely, while inflation crushes the working class…
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