Remember when Liz Truss got fired as UK Prime Minister for trying to cut taxes? It wasn’t that long ago. She won a vote in September 2022 to lead Britain’s Conservative Party.
Her platform was simple: cut taxes to grow the economy. Pretty standard conservative stuff, really. But within weeks of taking office, she was forced out. The official story was that her economic plan ‘spooked the markets’ and threatened the economy.
Liz Truss made one fatal mistake: Here’s what really happened — and why it should terrify you about the state of democracy, writes Tony Broomfield at Dangerousglobe.
Liz Truss made one fatal mistake: she tried to govern without asking permission from the real powers in charge. She announced tax cuts without clearing them with the Bank of England and its friends. The reaction was swift and brutal:
Official statisticians suddenly declared Truss’s plan had triggered an economic crisis. The Office for Budget Responsibility (OBR) and Office for National Statistics (ONS) rang alarm bells that Britain’s finances were in peril.
Central bankers at the Bank of England said their data ‘proved’ her tax cuts were dangerous and irresponsible. Financial markets — tightly intertwined with those same central banking networks — went haywire. The pound’s value plummeted and government bond yields spiked, as if the economy really was collapsing overnight.
Liz Truss made one fatal mistake: Media outlets amplified the panic with breathless headlines about a coming catastrophe. Turn on the news and you’d think Britain was hours away from economic Armageddon.
In less than seven weeks, the message was clear: Truss had to go. After just 49 days in office, party insiders pushed out the democratically elected Prime Minister and replaced her with someone more ‘acceptable’ to the financial powers-that-be.
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Liz Truss made one fatal mistake: Today, well after Truss’s ouster, UK government debt is trading at even worse levels than during the so-called ‘Truss crisis’. The economic indicators that were supposedly in free-fall have deteriorated further. Yet now it’s all deemed fine — because the current government does exactly what the Bank of England tells them. In other words, the problem was never really the numbers on a spreadsheet; the problem was a leader who didn’t obey.
By now a terrifying formula should be clear. This isn’t about one Prime Minister or one pandemic. It’s a repeatable method for overriding democracy:
Create a crisis with computer models. Predict a horrifying collapse – be it economic, medical, environmental – using complex simulations that most people can’t understand but that sound authoritative.
Declare that only experts can solve it. Insist that the emergency is so dire that normal democratic debate is too slow or too ‘ignorant’. Hand power to unelected technocrats because they have the ‘data’ and ‘expertise’.
Sideline or remove any elected leaders who won’t comply. If a politician tries to go against the experts or the narrative, crank up the pressure. Crash the markets, inflate the case numbers, whatever it takes – send the signal that this leader is endangering the public.
Give the public a single approved narrative through media. Drown people in dire headlines and authoritative pronouncements. Label any alternative viewpoint as dangerous misinformation. Keep everyone afraid and suspicious.
Liz Truss made one fatal mistake: When the crisis passes, keep the new powers in place. Don’t restore the old checks and balances. Normalise the idea that unelected authorities call the shots. Then wait for the next crisis and repeat the cycle. Repeat until democracy is dead.
You might object: ‘Experts have always advised governments. Isn’t it good to listen to specialists?’ And you’d be right that experts have long played important roles. But something fundamental has changed in recent years.
In the past, experts advised and elected officials decided. A minister or president would hear from economists or scientists, weigh their input against other factors, and make a policy choice. The accountability ultimately stayed with the politician, who voters could reward or punish. Now, experts decide and politicians obediently announce the decisions; the roles have flipped.
Now we see Liz Truss’s ‘crime’ in context. She attempted to act like a genuine head of government, pursuing a policy (tax cuts) that her voters wanted. But the financial system she tried to operate in is part of a global network that doesn’t tolerate free agents. The moment she broke from the path ordained by that network, it was as if the immune system of the global financial order kicked in:
Markets didn’t tank by accident; they were the weapon aimed at her. The data and forecasts trotted out by agencies weren’t unbiased truth; they were strategic attacks, coordinated through the financial clearing system, meant to create an atmosphere of inevitable disaster around her. The media hysteria simply amplified what the network signaled was ‘the truth’.
Truss was crushed not by a flaw in her policy per se, but by the operating system of global finance reacting to an unexpected input. She was an anomaly to be eliminated, a local bank trying to defy the central clearing house and getting shut down as a result.
Read the full article here.
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