The Battle of Teutoburg Forest Reprised
There has been a crescendo of talk in recent days about the potential of a global credit crisis due to a rapid unwinding of the long-running yen “carry trade” scheme, that has swelled to around twenty trillion dollars.
I suppose it's quite possible.
I reckon many such things are lurking in the nooks and crannies of our hyper-financialized world.
But I also think the bankers are likely to have a few more tricks up their sleeve to prolong the inevitable … at least for a while.
There's still enough havoc and ruin left to wreak on the beast of empire that it will likely stagger forward a few more furlongs, even as it trails blood and scraps of flesh along the path.
I've long believed it will take the stunning dose of a decisive military debacle to finally tip the empire's global dollar system into a severe and protracted credit crisis, where all the once-risk-free collateral turns to sand.
But to be clear, I do NOT believe Armageddon is imminent.
There are many other tribulations and much gathering of wheat and tares that must come to pass before we arrive at that point of existential extremity.
But I do believe, as I have oft repeated, there is a reprise of The Battle of Teutoburg Forest in the empire's not-so-distant future.
And whoever ends up getting sworn in as President of the United States of America on January 20, 2025, he or she will yet have cause to exclaim:
Quintili Vare, legiones redde!
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— Will Schryver
TwitterX: @imetatronink