Greek Domino falls, China moves in to pick up the pieces.
So, it has finally happened, Greece has shut down its banks and imposed capital controls. And so the dominoes start to fall. This is only the first act in a grand opera that will continue to unfold in the coming months. To try to guess what is in store for the European Union, it is good to take a look at how the fall of the Soviet Union took place. The fall of the Soviet Union began with a widespread sense of dissatisfaction with the government among both the working class and the elites. This gave birth to strikes and demonstrations in Poland that led to the fall of the Polish government in June of 1989. In November of that year the Berlin wall came down. Then, running into 1990, the communist governments of Czechoslovakia,
Romania, Bulgaria and Hungary fell. Finally, in December of 1991 Michael Gorbachev resigned and the Soviet Union itself collapsed.
So now that Greece has failed we can expect Spain, Italy, France, Germany and finally the United States itself to follow a roughly similar trajectory to what we saw with the Soviet Union.
What most people still do not realize about the fall of the Soviet Union was that it was not caused by failed ideology but by actual financial bankruptcy. That is why the United States and the European Union, which is modelled almost exactly on the Soviet Union, are doomed to experience regime change. They are bankrupt.
Chinese and BRICS government sources explain what they are going to do next. Chinese number 2 Li Keqiang is arriving in Europe this week where he will announce
Note from Jim: For all you children of a lesser God, the full report will be posted here Thursday.