The word delusion is worth understanding when considering the leadership of Western Europe, the UK and the United States. Various definitions share common themes. Here is Google’s AI definition —

A delusion is a fixed, false belief held with strong conviction despite evidence to the contrary, not shared by the person’s culture …. Common types include persecutory (being harmed) and grandiose (inflated self-importance).

Other definitions —

A delusion is a false belief or judgement about external reality, held despite incontrovertible evidence to the contrary, as a symptom of serious mental illness.

Something a person believes and wants to be true, when it is actually not true.

There is a particular form of delusion that is perhaps the most harmful – Paranoid Delusions.

Paranoid delusions are persistent, fixed false beliefs that others intend to harm, deceive, or persecute you, even when presented with contrary evidence, often stemming from conditions like schizophrenia, delusional disorder, or severe stress. They can manifest as intense suspicion, interpreting innocent remarks as threats, and a constant feeling of being under attack, significantly impacting daily life and relationships.

It is easy to observe delusional thought in the leadership of Western Europe and, arguably, in the leadership of all the advanced economy Western nations. During the tyrannical Covid event of Fear and Control, they strongly (and wrongly) believed that a deadly, novel virus was spreading rapidly around the globe which would kill many, many millions of people. Then they strongly (and wrongly) believed that a new injectable technology from Big Pharma, never previously used in human beings and developed in a matter of months, would be “safe and effective”. Then they believed (again, wrongly) that it could be called a vaccine (when it clearly was not) and that it would prevent the spread of the virus (which it didn’t). They also believed that locking down small businesses while leaving large businesses open would prevent the spread. That was just plain dumb. And they believed that you could eat safely while seated in a restaurant but that you must wear a mask as soon as you stood and walked around that same restaurant. That last one falls clearly into the delusional category of mental illness.

MORE GRAND DELUSIONS – “THE RUSSIANS ARE COMING” (!)

In the political leadership of the advanced Western economies, we are now seeing evidence of other grand delusions and heightened anxieties. Almost all of the leaders in Western Europe and the UK appear to believe that the Russian Federation is seeking to somehow invade and take control of their nations. In the mid – late 19^th century, this used to be called “the Russians are coming” argument. It was designed to cause fear and panic and allowed politicians a means with which to control their opposition and the people. Nothing appears to have changed in almost 200 years.

For readers who don’t know, “The Russians are coming!” in the 19^th century actually generated a global widespread anxiety and was used as a means to “defend” the then globally dominant British Empire. This lead to real fortifications being built in far flung locations and occasional military scares. The threat was often exaggerated for political reasons rather than being reflective of any real prospect of real, imminent invasion.

Ignorant of history, the leaders of Western Europe are now again telling their citizens to “prepare for war” and have embarked on increased defence spending to the tune of 5 % of their GDP. Of course, this has been encouraged by Donald Trump, the President of the United States, in order to enrich US arms manufacturers handsomely.

These so-called “leaders” are also convinced that the war in Ukraine must continue, presumably until the entire Ukrainian army is destroyed and the economy rendered worthless and inoperable.

THE NEXT DELUSION – STEALING RUSSIAN ASSETS FROM EUROCLEAR

In this arguably deluded quest to “defend Western Europe”, they have conspired to steal Russia’s $ 240 – 300 Billion of financial assets which are held in Brussels by Euroclear. This plan has been brewing for some months in the fevered minds of the unelected Ursula Von der Leyen (President of the unelected European Commission), Friedrich Merz (the Chancellor of Germany), Mark Rutte (former Prime Minister of The Netherlands, now unelected head of NATO) and Emmanuel Macron, President of France who now commands barely 20 % support from the people of France according to the latest Ipsos Poll. They have even threatened European countries that refused to back their plan by saying those nations “would suffer dire financial consequences” which would have “a negative impact on their credit ratings”.

In response, the Hungarian Prime Minister Viktor Orban called the operation “an open declaration of war” and “an open violation of law”. Others have called it piracy, perhaps inspired by Donald Trump’s actions in the Caribbean Sea off Venezuela. The European Central Bank refused to be a party to it, quite rightly, and the IMF (International Monetary Fund) urged caution, warning of unpredictable consequences for global monetary system stability. BOOM strongly agrees.

WHY THE EUROPEAN COMMISSION’S ATTEMPT TO STEAL RUSSIA’S $ 300 BILLION ASSETS FAILED

Let’s state the obvious right at the outset – none of these so-called “leaders” bothered to do any research on where the Russian assets are being held – in Euroclear. They could have simply searched Google or the Euroclear website or read the Wikipedia entry on Euroclear to understand that it sits right at the very heart of the Western financial system. It acts as Custodian for US$ 48 Trillion of global financial assets. It oversees 330 Million cross-border financial transactions annually amounting to US $ 1,368 Trillion.

Note: 1,000 Trillion is a Quadrillion. So this translates to almost US$ 1.4 Quadrillion.

Euroclear also holds 1.7 Million securities in trust for 3,800 global financial institutions. It has over 6,000 employees comprising 80 nationalities and more than 20 offices scattered around the world.

The Euroclear Group includes – Euroclear Bank, Euroclear Belgium (ESES), Euroclear Finland, Euroclear France (ESES), Euroclear Nederland (ESES), Euroclear Sweden, Euroclear UK and Euroclear International plus Taskize (their online, web-based client service channel).

Euroclear Holding SA/NV is the top holding company which owns, directly or indirectly, the entire issued ordinary share capital of the group companies. It describes its business as a provider of Financial Market Infrastructure (FMI), offering expert transaction settlement, asset servicing and collateral management, as well as a wide range of services for issuers. All asset types are covered including bonds, equities, funds and derivatives. It is essentially a Central Securities Depository – a CSD.

Euroclear Bank, the leading International Central Securities Depository (ICSD), is the gateway to counterparties worldwide for post-trade services, covering more than 1 million securities. The Euroclear group’s national Central Securities Depositories (CSDs) for Belgium, Finland, France, Ireland, the Netherlands, Sweden and the United Kingdom also serve local clients for local transactions.

To explain in layman’s terms, it is a “bank” but not for savings deposits and loans. It is essentially a global “clearing house” (of sorts) for the secure holding and provenance of financial assets. In other words, Euroclear essentially guarantees to a prospective buyer that the assets are owned by their seller and are available for transfer in return for funds in any of the 44 accepted currencies in which they deal.

PROVENANCE OF ASSETS

What is Provenance of an asset? – Provenance is the verifiable historical record of ownership and of transfers for a specific asset, documenting its complete transactional journey from creation to its current holder. This record establishes the asset’s authenticity and legitimacy.

SHAREHOLDERS OF EUROCLEAR

The Shareholdings of Euroclear Holding SA/NV are spread over many widely diverse owners scattered around the globe.

These shareholdings are closely and tightly held. As of 31 January 2025, Euroclear Holding SA/NV’s top 10 shareholders held a combined 80.67 percent of Euroclear’s equity capital:

·       Sicovam Holding S.A. (former shareholders of Sicovam before the 2001 merger with Euroclear): 15.89 percent

·       Caisse des Dépôts et Consignations (France): 11.41 percent

·       SFPI-FPIM [fr] (Belgium): 9.85 percent

·       Consortium of Belgian shareholders (also including SFPI-FPIM, see below): 9.17 percent

·       New Zealand Superannuation Fund (via NZSF Euro Ltd): 8.67 percent

·       State Administration of Foreign Exchange (China, via Kuri Atyak Investment Ltd):[20] 7.25 percent

·       Novo Holdings A/S: 4.99 percent

·       GIC (Singapore, via Amber Red Investment Pte Ltd): 4.99 percent

·       New South Wales Treasury (Australia, via JPMorgan Chase Bank as custodian for NSW TCorp): 4.92 percent

·       Euronext Brussels SA: 3.53 percent

The Belgian consortium that holds 9.17 percent of Euroclear is formed from seven institutions: AG Insurance, Belfius Insurance, Ethias [nl], Fédérale Assurance (Association d’assurances mutuelles sur la Vie), Participatiemaatschappij Vlaanderen, the Regional Investment Company of Wallonia, and SFPI-FPIM. The latter held 3.07 percent via the consortium, in addition to its 9.85 percent direct stake.

EUROCLEAR FUNCTIONS

CONSEQUENCES OF THE PLAN – IF THE RUSSIAN ASSETS HAD BEEN STOLEN

If the Russian assets had been stolen, then every government and major financial institution with funds deposited in Europe would have asked the same question: Are our assets safe in Euroclear? Could we be next?

Beijing, Honk Kong, Riyadh, Delhi, Tokyo, Sydney, Singapore, London, Abu Dhabi, Kuala Lumpur and last, but not least, New York would have immediately seen that the line between adversary and depositor was no longer clear. Every account would have potentially been at risk if political expediency was to override financial safety.

Euroclear’s CEO, Valerie Urbain, indicated the possibility of being sued by Russia if they handed over the assets. “We are a crucial link that must remain infallible for the stability of financial markets.”

NOTE – Euroclear “must remain infallible for the stability of financial markets” globally.

And, as per usual, BOOM raises the hard questions which the “leaders” of the EU failed to ask.

To whom would Euroclear transfer the assets and how without breaking Belgian securities laws? Which financial institution would take custody of what could be then described as stolen assets?

THE PLOT WAS DOOMED

Once you know about the centrality of Euroclear to the global financial system, the attempt to steal Russia’s assets was clearly doomed to fail right from the start. But, somehow, the so-called “leaders” of the EU, Germany, France and NATO all thought they could fund their war in Ukraine by stealing Russia’s assets held in trust by Euroclear. This was a dumb, stupid, foolish and highly imaginative but deluded plan. It was Group-think gone mad. And, worse still, it revealed the severe lack of knowledge at the highest levels of the Western European leadership about how the complex financial system which is based upon trust and contractual agreements actually works in the real world.

As we all now know, the attempt failed and they had to revert to an EU Bond Issuance to fund their promised $ 90 Billion loan to Ukraine to continue their war against Russia. However, that plan also appears fraught with great uncertainty. Any prospective holders of such a Bond will know immediately that Ukraine is unlikely to repay such a loan. Thus, in such a default, they would be exposed to a worthless Bond issued by a committee of deluded politicians in Western Europe with no understanding of finance. BOOM expects that such a Bond will fail to attract investors unless the yield is highly extortionate and guaranteed (somehow) by the committee.

A FINANCIAL, ECONOMIC AND SOCIAL COLLAPSE HAS BEEN AVERTED

What would have happened to the deluded EU leadership if they had somehow succeeded in their foolish plan to steal the Russian assets held at Euroclear?

BOOM has little doubt that such a plan would have resulted in a European financial crisis and, ultimately, a collapse of trust and confidence in European financial markets. Ultimately, all global financial markets would have been infected with anxiety about the security of their securities (to put it bluntly). And that would have then led to a political, economic and social collapse with severe global consequences. Thank you Ursula Von Der Leyen (!). Thank you Mark Rutte (!) Thank you Friedrich Merz (!!) Thank you Emmanuel Macron (!!)

WE HAVE A MAJOR CRISIS OF POLITICAL LEADERSHIP – LOSS OF TRUST

Everything that BOOM has outlined here points to one conclusion. Much, if not most, of the so-called “leadership” of Western Europe is deluded, foolish, unwise, conspiratorial, lacks intelligence, lacks basic knowledge and is potentially dangerous to the well-being of the people of the European Union.

This accusation could also be made about the leadership of almost every Western nation including the UK and the United States with a few possible exceptions notably in Hungary, Slovakia and Czechia.

This raises the ultimate question – were they all carefully selected long ago as young adults, then groomed and promoted to their positions of great power?

Surely this could not have happened by accident? Surely our political institutions could not have failed us so badly in the selection of our leaders?

The People are now slowly becoming aware of how bad the situation is and are mounting strong opposition to the foreign globalist agendas that have been adopted by their governments and which are destroying social harmony, trust in financial institutions, trust in justice systems, trust in the political class and political systems, not to mention the corresponding dramatic collapse in trust in the mainstream media.

This loss of expertise at the highest levels and loss of trust is also apparent in many nations.

In the UK, a major digital identity petition, demanding the government not introduce mandatory digital IDs, has gained nearly 3 million signatures, triggering a parliamentary debate in December, highlighting public fears about privacy, surveillance, data security, and potential discrimination, despite the government’s push for a scheme to streamline identity checks.

Last week, the ex Malaysian Prime Minister, Najib Razak, was sentenced to another 15 years jail while serving a previous 6 year sentence. He was found guilty of abuse of power in the multi-billion-dollar fraud scandal related to the state fund 1MDB. Investigators say at least $ 4.5 Billion was stolen from 1Malaysia Development Berhad (1MDB), a state fund Najib co-founded in 2009 while in office. More than $1 Billion allegedly made its way into accounts linked to Najib, who has denied wrongdoing.

In Brazil, in February 2024, the Federal Police raided former government officials and ordered the ex Prime Minister, Jair Bolsonaro, to hand in his passport over accusations that he and his allies had tried to overturn the results of the 2022 election and had planned a coup d’état. On 11th September 2025, he was sentenced by the Supreme Federal Court to 27 years in prison over the coup plot.

In Australia, the current Prime Minister, Anthony Albanese, is under strong pressure to resign after the recent Bondi Beach terror attack. An online Petition has been being raised to that effect and has already accumulated almost 356,000 signatures. The petition claims that the government is increasingly out of step with community views on immigration, citing polling that suggests significant public opposition to current migration levels.

LOSS OF TRUST – AUSTRALIA AND CANADA

A report published by the Australian Menzies Leadership Foundation sums up the situation right across all spheres of politics and governance in most Western democracies —

Recent research has painted a stark and deeply concerning picture of the current state of trust in Australia’s political institutions, revealing a profound and growing sense of dissatisfaction among the public towards the very structures meant to uphold democratic governance and serve the collective good. Among these institutions, political parties, which are inherently designed to channel the voices and aspirations of the people, have emerged as the most distrusted, surpassed only by the federal government, which continues to struggle with its public image and credibility.

This erosion of trust is no longer confined to isolated incidents or partisan criticisms but has evolved into a systemic issue that reflects widespread disillusionment with governance at all levels.

The Australian Election Study reveals a striking contradiction in public attitudes towards political leaders. While 81% of Australians believe that politicians wield the greatest influence in setting national priorities—a power that, in theory, should enable them to address the most pressing challenges facing society—only 22% trust these same politicians to act in the public interest.

BOOM wrote about this loss of trust in Canada in the BOOM editorial dated December 3^rd 2023 —

In reference to a report conducted by the Central Bank of Canada —

In the category dealing with “Complete Trust”, only 4 % of Canadians have complete trust in their financial institutions, 5 % in the central Bank of Canada, 3 % in the Government and only 1 % in major Technology companies.

But the shock is contained in the category “Completely Distrust”. Here, 74 % of the respondents completely distrust the Government of Canada. 58 % completely distrust the central Bank of Canada, 46 % distrust their financial institutions and 61 % completely distrust the major Technology companies.

BOOM suspects that similar numbers could be found in many other nations.

THE ULTIMATE QUESTIONS

Again, this raises the ultimate questions –

Were our clearly incompetent “leaders”in the Western, advanced economies all carefully selected long ago as young adults, then groomed and promoted to their positions of great power?

And, if so, are they now effectively under the control of those who selected them?

Has our “Democracy” been undermined?

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