At a conference held this weekend in Vienna, which was attended by economic experts, the shortcomings of the Western monetary system and the Great Reset was discussed at length. This is a neo-Marxist ideology, as Thorsten Polleit made clear in his lecture. The first two speakers, Keith Weiner and Thorsten Polleit, dealt with the monetary system and the role of central banks, which Polleit describes as “an ingredient in the Marxist witch’s brew”. He sees a severe recession coming.
The first presentation was given by economist Keith Weiner, a leading authority on gold, money and credit and President of the Gold Standard Institute USA. He is a fervent advocate of rational monetary policy and addressed the ever-worsening inflation of energy and food. Central banks are under increasing pressure to take action, i.e. raise interest rates. The Fed has already started to do this, and the ECB has at least announced an initial rate hike. Because if interest rates are not raised, the political mood could soon change, according to Weiner.
Citizens are not happy about energy prices and when people can no longer put food on the table, the situation could finally escalate.
The second speaker, Thorsten Polleit, has been an honorary professor of economics at the University of Bayreuth since 2014 and has been chief economist at Degussa since April 2012. He focuses on money and capital market theory and the Austrian School of Economics and is the author of numerous articles and books.
Central banks: An ingredient from the Marxist witches’ brew
According to Polleit, behind climate change and the lockdowns during the Corona crisis was an attempt to finally smash capitalism or what is left of it. The central banks have become more and more powerful almost unnoticed in recent years and determine which government is to be removed or not. The central banks are also able to control whether and which companies receive loans. This corresponds directly to the centralization of credit according to Karl Marx. Therefore, for the economist Polleit, central banks are the main driver of the current economic mess.
He emphasized that the representatives of the Viennese school, such as Ludwig von Mises or Friedrich von Hayek, already foresaw this. For example, Hayek wrote of the central bank monopoly on money: “There is less reason than ever to hope that states will become more trustworthy as long as the people have no choice but to use the money that the state makes available to them.”
Fiat money [money printing, ed.] is inflationary, Polleit maintained. So it loses its purchasing power because it can be increased simply by printing money. It favors the few at the expense of the many. This unequal distribution is called the Cantillon effect.
The redistribution is particularly nefarious, because the state benefits from inflationary money as it is able to pay its debts more easily. On the other hand, fiat money causes the market interest rate to fall artificially. This in turn leads to society living beyond its means and becoming over-indebted.
Fiat money thus inevitably leads to a debt economy in which debt increases faster than income. The result: global debt has grown to a total of $350 trillion by 2021, according to Polleit. The money supply has been increased by 43 percent in recent years by the US central bank, the Fed, and by 20 percent by the European Central Bank, the ECB. The euro has therefore lost around 40 percent of its purchasing power over the past five years.
A system of economic dependence: Fiat Money
Supply bottlenecks, lockdowns and the war in Ukraine have caused a shortage . The “negative price shock” now meets a money supply hangover. Because this expansion of the money supply by the central banks has been leading to extreme inflation. According to the economist Polleit, the fiat money system is a unit made up of different actors. And these actors have an interest in the economic dependence of companies and the population. The majority is made dependent on what Polleit calls “collective corruption”. This is an existential interest for banks and the financial sector. Because they are known to print new money out of thin air.
In order to prevent the system from collapsing, trade bans are imposed or interest rates are manipulated. People are now noticing the rising prices of consumer goods. Terms such as “green inflation” are intended to hide who the actual scapegoats are. Because supply chain problems, greedy entrepreneurs or “Putin’s war” are not responsible for this, but solely the central banks.
When inflation rises, confidence falls
High inflation lowers confidence, Polleit explained. Central banks are therefore raising interest rates to maintain confidence in hiding the swindle. When hyperinflation occurs, as happened in Argentina, Brazil and Ukraine, for example, fiat money is destroyed. High inflation, on the other hand, can be used for years (5-15 percent per year), which Polleit has shown using the example of Turkey since 2008. The higher money supply led to sharply increased prices for goods. Inflation has fluctuated between 10 and 24 percent over the years and is now over 70 percent.
We are facing a serious crisis
The world is currently on the way to a particularly serious crisis. The “Western redistribution democracies, as Polleit calls them, are particularly badly affected. He considers a future hyperinflation similar to that in Weimar in 1922 quite possible. As a result, the unemployment rate rose from 2,8 percent in just a few months to 19 percent and then to over 28 percent.
Today’s markets are not free due to regulations, laws and also the high taxes, according to Polleit. People are controlled centrally via central bank money. This is a kind of collectivism. That is exactly the Great Reset and the great transformation that Klaus Schwab has in mind. According to Polleit, these are neo-Marxist ideologies and the fiat money is necessary for this agenda to hide the costs of this total social restructuring. To do this, the free market must be restricted more and more, ultimately ending in a command economy. A “Chinafication” is taking place, he said.
The worst recession of the post-war period is imminent
For the time being, Polleit fears that the situation will deteriorate and, due to the anti-capitalist mood in politics, anticipates the worst recession of the post-war period. Because interest rates will not be increased massively, purchasing power has nevertheless fallen by 40 percent, which means that savings are also shrinking. For Polleit, therefore, the end of the Fiat system has begun and the euro zone will be the big loser.
State money monopoly must be overcome
Politics will not be able to solve the problem, but only a free market for money. Inflation is the result of misguided policies. A change of mindset is needed, said Polleit. The “collective corruption” must be overcome because fiat money is a “horror without end” and will not abolish itself. The state money monopoly must be actively stopped.
Reflecting on ideas that have been neglected so far could help find a solution in the future, Polleit said. Thankfully, the term “fiat money” has now become a mainstream notion, and such a positive development can no longer be stopped. If a new and well-functioning system were to be established in a country, this could lead to a chain reaction, he opined.
Image by 2211438 from Pixabay. Article cross-posted from Free West Media.
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Two Storms, One Harvest
Every food crisis in living memory has been a one-shock event. The 2008 price spike was a commodity bubble. The 2020 shortages were a logistics failure. The 2022 grain scare was a war on one exporter’s ports. Each time, the system bent, adjusted, and recovered, and each time the experts assured us afterward that global markets are simply too big and too diversified to fail.
What nobody in Washington seems eager to discuss is that 2026 is shaping up to be something the modern food system has never actually faced. Two independent shocks, one climatic and one geopolitical, are converging on the same harvest cycle at the same time. Not sequentially. Simultaneously.
Start with the weather. The Pacific Ocean is currently building toward what forecasters now openly call a record event. NOAA’s Climate Prediction Center puts the odds of at least a strong El Niño near 88 percent, with roughly two in three odds it reaches “very strong” status, the tier reserved for perhaps three or four events in the entire satellite era. Every major global model now projects a median peak in Super El Niño territory, and most of them project it exceeding the 2015-16 event, which until now held the modern record. Sea surface anomalies were already brushing the super threshold in mid-July, months before these events normally peak. The atmosphere has already shifted into El Niño mode, and the event is forecast to crest in late fall and early winter.
This is not about “climate change.” It’s about the standard cycles of weather, and the cycle we’re currently in is one that has likely devastated societies in the past. We’re better prepared as a society today, but not all Americans are equally prepared.
Serious households have started doing the quiet math on their own. Grocery bills tell part of the story, and the forecast maps tell the rest, which is why long-term food storage has moved from fringe hobby to mainstream line item in the family budget, with established suppliers like Heaven’s Harvest seeing demand from people who five years ago would have rolled their eyes at the idea. That instinct is not paranoia. It is pattern recognition, and the pattern is worth walking through carefully.
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The Fertilizer Clock Is Already Running
While the Pacific warms, the second shock has been unfolding in the Strait of Hormuz. The conflict with Iran turned the world’s most important energy chokepoint into a contested waterway, and the consequences reach far beyond the gas pump. Roughly a third of global fertilizer trade moves through Hormuz, and the disruption sent urea prices up 86 percent year over year by March, with a 53 percent jump in a single month.
The World Bank projects energy prices rising about 24 percent in 2026 and fertilizer about 31 percent. By its own accounting, fertilizer prices ran 35 percent higher in the first five months of this year than the same period last year.
Here is the mechanism the nightly news will not explain. Fertilizer is not a grocery item. It is a time-delayed input. The nitrogen a farmer in Iowa or Punjab could not afford to apply this spring does not show up as a problem this spring. It shows up as a thinner harvest six to twelve months later.
The World Bank’s own food security brief concedes that the effects of reduced applications earlier this season “are likely to become visible only later in harvest outcomes.” Translate that from institutional language into plain English and it means this. The damage is already done, it is already in the ground, and we are simply waiting for it to arrive on the shelf.
Now check the calendar. Six to twelve months from the spring planting season lands us squarely in late 2026 and early 2027. Which is precisely when the strongest El Niño in the instrumental record is forecast to peak, bringing its signature droughts to Southeast Asia, Australia, southern Africa, northern Brazil, and South Asia, the very regions that grow the world’s rice, sugar, and oilseeds.
The World Bank warns openly that a strong El Niño “could disrupt multiple crop belts simultaneously” on top of the conflict-driven input costs. Their baseline projection assumes the Middle East disruptions ease by autumn. What in the last two years of Middle East history suggests that assumption is safe?
The System Has No Slack Left
The comfortable answer is that global markets always adjust. But adjustment requires slack, and the slack is gone. Global cereal production is expected to decline from last year’s records even before El Niño does its work. The UN World Food Programme, hardly a den of right-wing preppers, is calling this the most significant disruption to its supply chains since Covid and the invasion of Ukraine, and its supply chain director put the stakes bluntly.
Today’s supply chain challenges are tomorrow’s hunger crisis.
There is also a political dimension that markets cannot price. When food gets scarce, governments do not behave like economists. They behave like politicians. Export bans, hoarding mandates, and panic buying at the national level turned the modest rice shortfall of 2008 into a global crisis, and analysts are already warning that import-dependent nations are the first dominoes.
The 2015-16 Super El Niño, a far weaker event than what is now forecast, threw tens of millions into food stress across Africa and Asia. This one is projected to be stronger, and it arrives with fertilizer already rationed by price and shipping lanes already contested by missiles.
What Joseph Knew
Scripture does not treat preparation for lean years as faithlessness. It treats it as wisdom delivered in advance to those willing to act on it.
Behold, there come seven years of great plenty throughout all the land of Egypt: And there shall arise after them seven years of famine; and all the plenty shall be forgotten in the land of Egypt.
Joseph did not respond to that warning with a hashtag or a committee. He stored grain during the years of abundance, and when the famine came, Egypt stood while its neighbors begged. The lesson is not that famine is certain. It is that the time to prepare is precisely when preparation still looks optional.
Nobody who filled a pantry in a year of plenty has ever regretted it, and nobody standing in an empty aisle has ever been glad he waited for certainty.
None of this calls for panic, and panic is the enemy of sound judgment anyway. It calls for the same unglamorous prudence our grandparents considered ordinary. Keep some cash margin, know your local growers, and put real food in deep storage while it is cheap and available, because the entire arc of this story is that cheap and available is a closing window.
Families looking for a straightforward place to start can visit Heaven’s Harvest and use promo code Patriot for 15 percent off long-term storable food. The forecasts may yet soften, the strait may yet reopen, and we should pray they do. But hope is a fine thing to hold and a foolish thing to eat.
