Posted originally on Dec 12, 2025 by Martin Armstrong
The latest agreement between the European Union and Canada to collaborate on mutually recognized digital IDs is simply another step in what I have been warning about for years. Whenever government confidence collapses, the political class tightens control. Digital ID is not about convenience; it is about tracking capital and controlling movement as the global sovereign-debt crisis accelerates.
The danger here is obvious. Mutual recognition means a unified framework. They’re building a foundation to establish a GLOBAL digital ID. Once these systems talk to one another, you have created the architecture for a worldwide database controlled by the political elite. This is precisely what the EU has been pushing with its Digital Services Act and the infamous “digital wallet” proposal. Now they are exporting it, just as they exported their disastrous ideas on Net Zero and financial regulation. Canada, collapsing economically and politically, is following Brussels into the abyss.
The EU and Canada will jointly test a pilot for digital identity wallets. Why do two separate continents need their systems to integrate? You cannot have a cross-border digital ID without a central authority. And once the state has the ability to monitor every transaction, every movement, every piece of identification, they will inevitably link this to taxation, travel permissions, banking access, and even political compliance. This is how governments always respond in the final stage of their fiscal life cycle. Rome imposed travel permits. The Soviet Union created the internal passport. Now the West is doing the same with better technology.
Capital will flee regions that move toward centralized digital identification. This is why we are seeing the migration of capital away from Europe and increasingly away from Canada. Both are moving toward a Marxist model where the citizen exists solely to fund the state. The push for digital ID aligns perfectly with the rising authoritarian wave into 2032 as governments fight to retain power in the face of systemic collapse.
#Bulgaria is rising again. Seven elections in four years did not lead to apathy. People across generations are demanding accountability, rule of law, and a new way of governing the country. pic.twitter.com/kEeSHnt5Ch
The entire Bulgarian government has resigned after nationwide protests following the government’s decision to join the European Union. “The government resigns today,” Rosen Zhelyazkov announced. “People of all ages, ethnic backgrounds and religions have spoken out in favour of resignation. That is why this civic energy must be supported and encouraged.”
The media portrayed the initial civil unrest as a reaction to the 2026 budget, but the root of the agitation lies with the nation relinquishing sovereignty to join the euro. The Bulgarian government resignation is symbolic; true power lies with the unelected bureaucrats in Brussels.
“The decisions of the National Assembly are meaningful when they reflect the will of the people. We want to be where society expects us to be,” Zhelyazkov said, referring to the anti-government protests. “We have no doubt that the government will receive support in the upcoming vote of no confidence. Regardless, the decisions of the National Assembly are important when they reflect the will of the sovereign,” the prime minister said.
There is massive corruption in the Bulgarian government, hence the need to hold seven snap elections after the 2020 uprising. The people will no longer have the ability to elect their representatives. Citizens have no trust in their government and do not bother with voting, as voter turnout reached only 34.4% in June 2024. Yes, they may elect who rules Bulgaria, but the EU determines the direction the nation must take. Over 6.4 million citizens must convert to the euro on January 1.
Once Bulgaria joins, it will no longer be able to devalue its currency to remain competitive. That’s how small economies adjust in a floating system. But inside the eurozone, you’re stuck. All monetary policy decisions are made by the ECB in Frankfurt, which answers to no elected body. If Bulgaria experiences a downturn, they can’t cut rates or devalue—just like Greece in 2010. They will be told to cut pensions, raise taxes, and accept IMF mandates. That’s not sovereignty.
Bulgaria now has the luxury of taking on more debt through the European Central Bank. It may now join a war on behalf of the EU against a nation with which it had diplomatic ties throughout the years. Bulgaria is the poorest member of the union; Brussels is not going to allow it to sway the course of the EU agenda in any capacity.
Posted originally on Dec 12, 2025 by Martin Armstrong |
The private debt crisis, coupled with a consumer-based economy, is a recipe for disaster. Americans followed the age-old thinking of “buy now if it will cost more tomorrow” during Black Friday and Cyber Mondy sales, leading to the strongest year of sales on record. The problem is that a large percentage of buyers opted to “pay later” through Buy Now Pay Later (BNPL) payment plans, which are contributing to nationwide household debt levels.
Over $1 billion in sales over Black Friday/Cyber Monday was charged through BNPL platforms, a 4.2% YoY increase, according to shopping data from Adobe, which predicts total BNPL spending will reach $20.2 billion by the end of the holiday season.
BNPL offers interest-free installment payment options and is listed as a payment option during most online checkouts. BNPL loans grew from 16.8 million in 2019 to 180 million in 2021 for a total of $2 billion. By 2022, popularity grew and nearly a quarter of US consumers reported using BNPL for a charge. Those with subprime credit are more likely to use this option. The younger generations who favor mobile purchases are also far more likely to use this option as they may not have a credit card. Worse, BNPL provides an illusion of stronger purchasing power.
About 41%of BNPL users were unable to make payments on time, up from 34%, and 60% of users hold multiple loans. These purchases are generally not for big ticket items. In fact, the average loan is $142 per transaction. Apparel, clothing, shoes, and accessories account for up to 45% of all BNPL orders, followed by electronics at 30%. There has been a rise in consumers using this method for essentials like grocery—a massive red flag for the economy.
Total US household debt hit a record $18.585 trillion in Q3 2025, up from $18.39 trillion in Q2. The average debt per consumer stands at around $105,000 per the New York Fed’s Household Debt and Credit Reporting. Around 70% of that debt ($13.072 trillion) is tied up in mortgages. Yet, American consumers are taking on more debt than necessary or sustainable and holiday spending using “pay later” options are a negative indication of what’s ahead.
Posted originally on CTH on December 11, 2025 | Sundance
Lyndon LaRouche (1922-2019) was a rather eclectic fellow in the world of American politics for several generations. Some of his perspectives were sound and nationalistic, and some of his perspectives slipped into the realm of geopolitical conspiracy theory finding British Imperialism under every rock and blaming Queen Elizabeth II for assassination attempts against him.
Susan Kokinda and Barbara Boyd of Promethean Action continue the LaRouche tradition while smoothing out some of the more outlandish elements the originating political movement was known for. Barbara Boyd is the spokesperson and treasurer of the LaRouche Youth Movement. Boyd’s partner, Susan Kokinda, maintains a belief that eliminating British Imperialism is the objective of President Trump’s America-First policy agenda. This is where I disagree.
While the outcome of President Trump’s policy does factually lead to the result LaRouche advocated, I strongly doubt “eliminating British imperialism” is the prism through which Donald Trump’s thought process flows. That said, in the overall picture of American politics, the Kokinda and Boyd analysis of Trump’s opposition is generally accurate.
In their most recent update, Susan Kokinda discusses how President Trump’s recent national security strategy marks a significant departure from over a century of British-influenced American foreign policy. Their review delves into the geopolitical friction between the U.S. and the UK, particularly regarding their strategies toward Russia and Ukraine.
Mrs. Kokinda underscores the broader clash of worldviews between America-First sovereignty and British-led internationalism, highlighting the latest developments including reactions from Russia and European elites. The episode also examines the opposition Trump faces from both within the U.S. political establishment and British geopolitical strategists and emphasizes the importance of maintaining political support to ensure the success of Trump’s transformative policies. WATCH:
The divergence between the worldview of the European Union and President Trump is accurately presented as above. The Ukraine/Russia war serves as a case study in how the two worldviews conflict. The core of U.K policy and national security strategy continues to view Russia as the biggest threat; the national security outlook by President Trump does not.
On the domestic side of the issue, there are several American elements in direct opposition to the geopolitical trade structure of President Trump.
The Koch PAC seems to have abandoned their use of former South Dakota Governor Kristi Noem since she became President Trump’s Secretary of DHS (Dept of Homeland Security). Instead, the Koch network is funding Thomas Massie (House) and Rand Paul (Senate) to represent their interests. MTG is likely to be a beneficiary, and other more traditional GOPe types will also likely benefit from Koch/CoC financing.
Just as the Biden/Obama agenda included the targeting of President Trump for removal (Transition Integrity Project – originating group) in early January 2017, so too did another UniParty stop Trump operation begin in January 2025. We saw the latest iteration surface in the odd (at the time), narrative surrounding Qatar -vs- Israel.
The ideologically similar GOPe elements within the Sea Island network, tech and traditional Republican party, are all aligned due to opposition to Trump policy. They continue their efforts to divide elements from the larger MAGA network.
The use of the Qatar vs Israel wedge is clear within the billionaire tech/political group, and essentially distillates to 2028 positioning, JD Vance -vs- Ron DeSantis.
As noted by Mrs Kokinda, ultimately the issue boils down to “trillions at stake.”
Posted originally on CTH on December 12, 2025 | Sundance
There was a rather disposable and brief discussion that surfaced during the Patrick David Bet podcast that helps to frame perspective on the current state of U.S. UniParty politics. Normally, this interview segment wouldn’t be of much value; however, given the specifics of the names involved and some confusion about alliances and allegiances there is something to be remembered. This interview is a good reminder.
John Morgan is the head of a massive law firm based in Florida. As a strong democrat Morgan was one of Barack Obama’s biggest bundlers in the state. Many high-profile lawyers including current Attorney General Pam Bondi and current HHS Secretary RFK Jr have worked for and with John Morgan. This is why the best advice is to stay emotionally detached from reliance on these people. At the core of everything it’s the money that matters.
In this interview John Morgan, a man of generally horrid character and disposition, highlights some of his influence in state, regional and national politics; giving details about the relationships he holds. It’s a good reminder of exactly how the UniParty operates when contrast against the forces opposed to President Trump. WATCH:
Posted originally on CTH on December 11, 2025 | Sundance
Tina Peters is a gold star mom who was a former Mesa County, Colorado, clerk during the 2020 election.
Mrs Peters, age 70, is serving a nine-year prison sentence in Colorado state prison after her politically motivated conviction for attempting to influence a public servant and criminal impersonation for aiding an unauthorized person in copying voting-machine hard-drive data during a 2021 software update.
Mrs. Peters and her lawyers have repeatedly stated she was attempting to preserve evidence of false voter data in the Colorado 2020 election. The judge who sentenced Peters stated she had white “privilege” in delivering the exceptionally harsh sentence.
Today President Trump pardoned Tina Peters, but state officials and Colorado Governor Jared Polis say the pardon is invalid because Mrs. Peters was convicted of a state crime, out of the reach of a presidential pardon.
PRESIDENT TRUMP – “For years, Democrats ignored Violent and Vicious Crime of all shapes, sizes, colors, and types. Violent Criminals who should have been locked up were allowed to attack again. Democrats were also far too happy to let in the worst from the worst countries so they could rip off American Taxpayers. Democrats only think there is one crime – Not voting for them!
Instead of protecting Americans and their Tax Dollars, Democrats chose instead to prosecute anyone they can find that wanted Safe and Secure Elections. Democrats have been relentless in their targeting of TINA PETERS, a Patriot who simply wanted to make sure that our Elections were Fair and Honest. Tina is sitting in a Colorado prison for the “crime” of demanding Honest Elections. Today I am granting Tina a full Pardon for her attempts to expose Voter Fraud in the Rigged 2020 Presidential Election!” (read more)
Unfortunately, Colorado Governor Jared Polis is extremely opposed to President Trump and anything he represents, immediately rejecting the pardon [SOURCE] and confirming that Mrs Peters will remain in state prison.
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