‘What in the world is going on’ has now become a question of real pertinence, instead of just a cliché for common bewilderment. As COVID-19 panic grips the world, ripple effects are crashing markets and effectively canceling economies across the globe, scrawling the writing on the wall for something big. Even the beloved Walt Disney World has announced it will close its doors for the time being. It stands to examine then, whether there is substance to the idea that the ‘world grinding to a halt’ could be used to implement a new financial paradigm. One that is digital, surveillance-based, and most importantly, covers the economic sins of unsustainable times past.
Also read: Gold and Bitcoin Markets Tested, While Central Banks Try to Quell Stock Market Rout
Corona: The Favored Virus of ‘the Crown’?
Recent news of Disney shutting down brings attention to another ‘magic kingdom’ — the whimsical endless credit monarchy of Keynesian recklessness. It too appears to be reaching a terminal impasse. There is speculation the COVID-19 pandemic could be the perfect opportunity for the world’s financial planners to cover their past sins of mega bubbles, unsustainable inflation and debt creation, wiping the slate clean — this time with a decided focus on digital surveillance, control, and unmitigated printing powers, using the disease outbreak as a convenient scapegoat. But is there any substance to such conspiracy talk?
In the interest of avoiding tinfoil hat, baseless assertions when looking to the future here, it’s best to understand what has already been established on the world economic scene prior to the outbreak of COVID-19. A few major facts to bear in mind:
The global economy was running out of options for dealing with recession, as major economies headed
