Previous Message

Over the past two decades, a series of crises in finance, health, energy and geopolitics have laid bare the risks of extreme global integration. But more recently, great powers have begun using economic integration as weapons, tariffs as leverage, financial infrastructure as coercion, supply chains as vulnerabilities to be exploited.

You cannot live within the lie of mutual benefit through integration, when integration becomes the source of your subordination.

And this impulse is understandable. A country that can't feed itself, fuel itself or defend itself, has few options. When the rules no longer protect you, you must protect yourself.

Hegemons cannot continually monetize their relationships.

Told you.

I didn't expect it to come from a former "independent" central banker I must admit.