From Scotland and Catalonia to Texas and Vermont, the devolutionary forces are just getting started. The One World octopus will eventually die, for it is contrary to human nature and contrary to the laws of physics. As systems become increasingly complex and chaotic, it is the nature of bureaucratic tyrannies and centralized governments in general to attempt ever increasing levels of control in a vein attempt to maintain their power. But, this is the exact opposite of what dynamic, emergent systems require as they dance on the edge of total chaos.
In fact, increasing the rigidities of the system, through attempts to further centralize and bureaucratize power, only makes the pressures towards entropy all the more explosive and uncontrollable. The centrifugal forces, enhanced by technology, environmental and resource restraints and the laws of thermodynamics will, under increasing pressure, atomize the central command and control systems now in place. From Washington, London to Brussels and beyond the power of the centralized State, the Leviathans seeking to merge, will be not only neutered, but destroyed.
Once the real devolution revolution starts, the central systems will not roll over easily. They will impose an aggressive tyranny, backed by the full might of the police state. But no matter how bloody and destructive, the power elites defense of their accumulated wealth based upon unrestrained self-enrichment backed by the coercive powers of the Fascist State, will fail. Authority assumed but unappropriated by the people eventually dissipates. The center will not hold. Human freedom demands that it not.
Devolution—meaning the decentralization of power—is the geopolitical equivalent of the second law of thermodynamics: inexorable, universal entropy. Today’s nationalism and tribalism across Europe, Africa, and the Middle East represent the continued push for either greater autonomy within states or total independence from what some view as legacy colonial structures. Whether these movements are for devolution, federalism, or secession, they all to varying degrees advocate the same thing: greater self-rule.
In addition to the traditional forces of anti-colonialism and ethnic grievance, the newer realities of weak and over-populated states, struggles to control natural resources, accelerated economic competition, and even the rise of big data and climate change all point to more devolution in the future rather than less. Surprisingly, this could be a good thing, both for America and the world.
The vision of one unified Europe will flounder on the rocks of economic and social nationalism. The massive inefficiencies imposed on the individual sovereign nations of Europe under the iron claws of the totally unaccountable bureaucratic monstrosity in Brussels will end, but not without considerable chaos and pain.
In a striking admission that Mario Draghi’s “strategy” about the ECB’s Private QE future, aka ABS monetization plan, is nothing short of converting Europe’s central bank into a “bad bank” repository for trillions in bad and non-performing debt, the FT yesterday reported that “Mario Draghi is to push the European Central Bank to buy bundles of Greek and Cypriot bank loans with “junk” ratings, in a move that is set to exacerbate tensions between Germany and the bank.” It is expected that the former Goldmanite will unveil details of a plan to buy hundreds of billions of euros’ worth of private-sector assets at tomorrow’s ECB meeting.
Gresham’s law is an economic principle that states: “When a government overvalues one type of money and undervalues another, the undervalued money will leave the country or disappear from circulation into hoards, while the overvalued money will flood into circulation.” It is commonly stated as: “Bad money drives out good”.
This is economic insanity. In order to hold the center, the system will atomize under the pressures. Freedom will be the result.
Mario Draghi is to push the European Central Bank to buy bundles of Greek and Cypriot bank loans with “junk” ratings, in a move that is set to exacerbate tensions between Germany and the bank.
Mr Draghi, ECB president, will this week unveil details of a plan to buy hundreds of billions of euros’ worth of private-sector assets – the central bank’s latest attempt to save the eurozone from economic stagnation.
The ECB’s executive board will propose that existing requirements on the quality of assets accepted by the bank are relaxed to allow the eurozone’s monetary guardian to buy the safer slices of Greek and Cypriot asset backed securities, or ABS, say people familiar with the matter.
Mr Draghi’s proposal is designed to make the programme of buying ABS, which are bundles of packaged loans, as inclusive as possible. If it is backed by the majority of members of the ECB’s governing council, the central bank would be able to buy instruments from banks of all 18 eurozone member states.