EMPIRES ALWAYS FALL LAST

On Friday evening the US 10-year closed at 5%. Everything seems to say America and its lobbies have reached the end of the line.

I think it's us who are reaching the end of the line. 😂

Until two months ago, the diabolical yen carry trade mechanism still seemed to work. And it seemed to be holding the whole shack up. Today reality says something else entirely.

No longer having this option to keep perpetuating its power over the world, the United States clumsily tried the route of buying back its own debt. A route that could only end badly. And in fact the move has already been practically wiped out by the market.

If, as I think, something happens that makes the Europeans pay for the party, in my eyes that will amount to something sadistic: as if the market hadn't accepted, at that point, that it should be those who perpetrated this power who fall first.

But history tells us this too.

When the empire is in trouble, the empire devours its colonies.

Japan was a colony and it got devoured.

Europe is a colony and it will get devoured.

We, as European people, are in the mud up to our necks. Let that be clear.

When you look at how bonds are moving and think it's over for the Americans, know that you're on the wrong track: it's over for Europe. Not yet for the US.

And who knows, the European cannibalization might still buy them another 7/8 years of prosperity.

The value of the money people hold in Europe, the fruit of decades of work and sacrifice (and above all of illusions), will be pulverized.