Global banks and investment firms are bracing themselves for an “unprecedented” upsurge in civil unrest in the US, UK and Europe as energy and food price spikes are set to drive costs of living to astronomical levels.
The information comes from the head of a ‘financial institutions group’ – which provides expertise and advisory services to other banks, insurance companies, and other financial institutions – at one of the largest investment firms in the US.
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The senior investment executive, who spoke to Byline Times on condition of anonymity because the information he revealed is considered highly sensitive, said that contingency planners at top financial institutions believe “dangerous levels” of social breakdown in the West are now all but inevitable, and imminent. An outbreak of civil unrest is expected to occur anytime this year, but most likely in the coming months as the impact of the cost of living crisis begins to saturate the lives of “everyone”.
The executive works at a leading Wall Street firm which is considered a systemically important financial institution by the US Financial Stability Board. These are institutions whose functioning is considered critical to the US economy, and whose failure could trigger a financial crisis.
According to the executive, major banks all over the world including in the US, UK and Western Europe are instructing their top managers to begin actively planning how they will respond to the impact of financial disruption triggered by a prolonged episode of civil unrest. However, the banking official did not elaborate on what these planning measures involved beyond reference to stress testing to determine the impact on investment portfolios.
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While increased civil unrest in developing countries has been openly discussed by major institutions such as the UN, World Bank, IMF and other institutions, this is the first time in recent years that expectations of a coming epidemic of social breakdown in Western societies has been attributed to top banking and investment firms.
“All the major banks know that the cost of living crisis is out of control,” said the top financial advisor.
“The pandemic was bad enough and highlighted how certain groups of people were going to be worse affected, the poor, minorities and so on. But the combination of energy and food shocks are a tipping point that will push Western societies over the edge. This will impact everyone. Well-to-do middle classes will find it hard to afford staple foods and pay bills. So we are anticipating dangerous levels of civil unrest that could spiral into an unprecedented social crisis.”
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The warning comes as Bank of England governor Andrew Bailey described how “apocalyptic” food and energy price rises and a 30-year high rate of inflation would lead to a “very big income shock” driving up unemployment and slashing household spending.
But that barely scratches the surface. The senior US banking official warned Byline Times that the current crisis was about to plunge the general public, including middle classes, into deepening poverty. Worse, the conventional economic toolbox to address financial volatility had run out of stream:
“There isn’t anything left in the toolbox of the existing financial system. We’ve run out of options. I can only see the situation worsening.”
The official claimed that they had been made aware of the internal planning by various banks through conversations with senior colleagues in recent weeks.
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The official’s warnings fit into an analysis I’d put together in 2017 where I had argued that a combination of energy, food and debt crises similar to what we had seen in the run up to the 2008 financial crash were likely to reappear in the coming years in a more intense form. The global system, I’d warned, was in the midst of a protracted collapse process as the incumbent fossil fuel-dominant paradigm crumbles into a spiral of diminishing returns. Although I’d expected this global crisis convergence to happen earlier, it was delayed by the impact of the pandemic, which temporarily reduced demand and global consumption.
A major outbreak of civil unrest this year would be consistent with a rising trend in political violence over the last decade since the 2008 financial crash, as documented by the Institute for Economics and Peace’s Global Peace Index. Between 2011 and 2019, demonstrations, strikes and riots around the world increased by 244% and continued to increase in 2020 during the pandemic.
The Global Peace Index’s latest figures show that global peace has deteriorated for the ninth time in a row by 0.07%, and has overall worsened over the last 15 years. Violent demonstrations and riots have now occurred in 158 countries, over 80% of the world. This escalating trend in civil unrest fits into a pattern of ‘systemic’ social unrest, with multiple countries simultaneously expressing dissatisfaction, anger, and demanding change.
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The rising trend did not begin 15 years ago. It, too, is part of a much longer rising trend in political violence which began to especially accelerate since the 1970s, which is when the global economy first entered a stage of ecological ‘overshoot’.
The evidence of escalating instability in the global system suggests it is entering a period of rapid, dramatic change as incumbent industries and political institutions are losing control. While the prospect of intensifying instability is daunting, the weakening of the status quo is opening up a new possibility space to explore previously unthinkable alternatives.
The managers of the incumbent paradigm cannot see this opportunity. In particular, they cannot recognise that the feedback loop of accelerating energy, economic and food crises is intensifying because the dominant carbon-intensive industries in these sectors are economically obsolete, with huge geopolitical consequences as they unravel before our eyes.
Contrary to the grim fatalism of established financial institutions – which see no way out of a crisis very much of their own making – new visions and ideas for economic transformation coupled with the continued acceleration of key technology disruptions in energy, transportation and food suggest that the very collapse of the incumbent paradigm is paving the way for a breakthrough into a new system. But citizens, including those working in the financial sector, must be able to see this opportunity before they can seize it. [ByLineTimes]
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In show of muscle, Iran uncovers 100 drones at secret base in Zagros Mts
A select group of reporters was on Saturday, May 28 shown more than a hundred military drones lined up in rows, after being flown blindfold for 45 minutes to a secret base buried deep under Iran’s Zagros Mountains. Upon landing, the group was greeted by Iran’s army chief. Maj Gen Abdolrahim Mousavi, who told them: “There is no doubt that the drones of the Islamic Republic of Iran’s armed forces are the region’s most powerful.” He went on to say: “Our capability to upgrade drones is unstoppable.”
DEBKAfile’s military sources find that the secret base was uncovered as a threat by Tehran to wield its powerful UAVs in revenge for the two recent strikes on highly sensitive resources – both of which were attributed to Israel, although unacknowledged by any source. In the first, on May 23, a pair of bikers shot dead a senior Al Qods officer Col. Hassan Sayyad Khodaei outside his home in Tehran; in the second, according to unnamed Iranian and US sources, Israel was likely behind the suicide drones said to have blown up a building at the Parchin military complex where Iran develops missile, nuclear and drone technology and is kept out of bounds to international inspectors.
Both attacks were launched from inside Iran.
The reporters were told that the secret base is situated hundreds of feet under the ground. Most of the drones were seen to be armed with Qaem-9 missiles (judged to be equivalent to American Hellfire weapons).
Our sources add that Israel has long been aware of an Iranian plan to use scores of drones for a major assault – especially since its key resources were hit from inside Iran’s own borders.
Attack on Iran is Imminent……. world war 3 starts from Iran … unless they arm Iranian to topple this regime which is impossible to me…. 0 chance.. But more explosions will soon come from Iran prelude to attack on Iran?no deal with terrorist regime of Iran shame to you Jimmy Carter and Queen of London brought Khomeini to Iran free of charge by Air France!!! Also give protection by bringing over 300 INT journalists to protect him!!!! We never forget you Jimmy Carter
So, what do they plan to help mitigate the situation? Nothing. Nothing to help us, the people. They have theirs. How can they help, you say? It’s not their problem. The Globalist banksters and the investment firms (like Blackrock, State Street, and Vanguard) own most of the world’s companies. They COULD do something IF they really wanted to. When people go bankrupt, the banksters swoop in and buy what’s left for pennies on the dollar. A world recession is nothing but a BUYING opportunity for them. Their goal: 100% ownership of the world.
They have their’s because they stole it from us. Remember who these people are. Never forget their names, faces, AND WHAT THEY HAVE DONE. Be they local or Washitton, NEVER FORGET.
Thanks Strange sounds .. I did predicted this documented in your web site months before…
Thanks also for Iran room you opened…..God Bless you always ..