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ECONOMIC COLLAPSE TO FOLLOW MILITARY DEFEAT

 
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Ferre
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PostPosted: Sat Apr 24, 2004 11:52 am    Post subject: ECONOMIC COLLAPSE TO FOLLOW MILITARY DEFEAT Reply with quote

Bruce Porteous wrote:

Why has the war in Iraq turned out to be such a mess? What was originally envisaged to be a short campaign, which the Iraqis would welcome the “liberators” has now developed into a political, strategic and military disaster.



The Iraq war has evolved into a quagmire that has now become impossible for the USA and Britain to extract themselves from, without suffering defeat. This article will discuss the implications of this coming defeat of the Anglo-Saxon alliance and the impact that this will have on the world and the global economy.



The defeat of America and Britain will have a far greater impact on the geo-political landscape than the defeat of the USA by North Vietnam. It will literally mean the end of the Anglo-Saxon dominance of the world, and see the re-allegiance of international power blocs.



The invasion and occupation of Iraq has stirred up worldwide hatred towards America and Britain greater than ever previously experienced. From Japan to Europe, America and Britain are being blamed for the mess in Iraq and for provoking Muslim fundamentalists into supporting terrorism. Nowhere is this hatred towards the USA greater than in the Middle East, where the invasion of Iraq has successfully unified Muslim hatred towards America.



As a consequence of invading Iraq, the survival of the some Middle East regimes are now threaten, especially that of Saudi Arabia. In Afghanistan, the Taliban and al-Qaeda remain undefeated, and are now gearing up for another offensive, which will make it difficult for the depleted American and British forces to resist. The rise of Muslim fundamentalism is spreading like a bushfire throughout the Middle East, and is threatening the existence of the American military bases around the Persian Gulf. American dominance of the Persian Gulf has given it an enormous strategic influence in securing the access and movement oil, and its effect on world commerce. Without the American military presence to protect the passage of Middle East oil through the Gulf, the lifeblood of the economies of Asia and Europe are threatened.



The cost of fighting the war in Iraq and Afghanistan is having an increasingly negative impact on the American and UK economies. This is not obvious to the average citizen so far, as consumers benefit from loose monetary policy and low interest rates. However, both the USA and UK governments are running increasingly large and unsustainable deficits, and as the costs of continuing the war rise, will have dire consequences. The war, along with the war against terrorism, is draining resources from both economies, making them less able to compete globally with other industrial nations.



The recent IMF report on the implications to the global economy of America’s reckless economic policies, and failure to correct the imbalances caused from their twin deficits makes frightening reading. http://www.imf.org/external/pubs/ft/weo/2004/01/pdf/chapter2.pdf



The continued deterioration of America’s trade and current account deficits is requiring the USA to borrow ever increasing amounts of capital from overseas. While recently this has caused a little firming in the dollar against other main trading currencies, it is only putting off the day of reckoning to when interest and capital repayments to their creditors become unsustainable. Rising interest rates in the USA and UK will have a negative impact on their economies, increasing the size of government deficits, severely depressing consumer spending (especially in the over-heated property market), and affect corporate profitability. There will follow a decline in their GNP, reducing government income, and cause government budgets to spiral out of control.



The defeat of America and Britain in Iraq will have serious economic and political implications for both countries. One of the consequences will be a switch in the payment of oil from dollars to euros by the oil producing countries. This will have a disastrous effect on the value of the $US, which will plummet in value against the Euro and other currencies. The Euro will replace the dollar as the world’s reserve currency, making the heavily indebted United States currency worthless. A worthless currency will prevent America being able to attract the continued inflow of capital to sustain its enormous deficits. Rather, there will be a massive outflow of capital, as America’s lenders try and recover their investments before they become worthless. Even worse, the total collapse of dollar will make it impossible for America to finance its massive external debts, forcing the country into bankruptcy, and total economic collapse.



The collapse of the American dollar and economy will have major implications to the global economy. It will especially cause real difficulties to the Japanese economy, and threaten to bring about the collapse of the Japanese banking system. It will make it increasingly difficult for the Japanese Government to service it massive government debt. Other Asian economies will also be badly affected, especially China, which has large and unsustainable debt levels. The entire world will be thrown into a serious global depression.



America and Britain will be blamed throughout the world for the collapse of the global economy. They will be blamed for their consumer-driven greed, debt-financing extravagances; their disregard of protecting the environment, and their arrogant foreign policies, such as defying international law by illegally invading Iraq.



The end of the dominance of the Anglo-Saxon alliance will see a turning point in history. The only global power with the economic capacity to fill the power vacuum that will follow an economic collapse of the USA will be the newly formed United States of Europe. Europe will be less affected from the collapse of the American economy than elsewhere, and will be in a better position to lead the global recovery because of the size of their domestic economy.



The United States of Europe will replace the USA as the engine economy for the world, with the euro replacing the dollar in becoming the internationally accepted reserve currency. This group of nations, under a single political head, and in partnership with the Catholic Church, will enforce many regulations upon the Western world, in an effort to protect the world’s environment from further exploitation, to regulate the right of capital to exploit the environment and people, to an even greater extent to what the EU does today in regulating the lives of Europeans.



The entire world will turn against the Anglo-Saxon people in a way few can imagine. They will be held accountable for the troubles they have bought upon the entire world. The USA and UK, along with Australia, Canada, New Zealand and Britain will be held accountable for their massive overseas borrowings – their creditors will demand their money back, or will seize control over their assets. The collapse of the dollar, and currencies linked to the dollar, will bring on incredible poverty and hardship upon our people. Many will die from starvation and disease. Most economic activity will grind to a halt. Law and order will break down. A state of anarchy will prevail.



To bring about law and order out of the chaos that will exist, the United States of Europe will take over the administration of our countries. Those who survive the economic collapse, the starvation, wide-spread disease, and break-down of law and order, will be subjected to the authority of the government of this new EU super state. Our people will become enslaved to the dictatorial rule of their administrators, similar to the people of Europe under Nazi occupation.



The Bible talks about a time of great catastrophe, called the “Great tribulation” to come our people. (Matthew 24:21-22; Daniel 11: 40-45, 12:1; Luke 21:19-36). It is also referred to a time of “Jacob’s trouble” in Jeremiah 30:3-7. Jesus Christ taught that in this time, unless these dreadful days are shorten, no flesh would be saved. (Matthew 24:22). These days are fast approaching.





Bruce Porteous

24 April, 2004

bruceport@xtra.co.nz


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