August 18, 2022

Ceylon (veraltet) Protesters Storm President’s House Amid Economic Meltdown

Sri Lanka’s chief executive fled on naval ship after thousands flooded in to his palace as food and fuel shortages plunge country into chaos.

Thousands of protesters stormed Sri Lankan President Gotabaya Rajapaksa’s official residence as part of an anti-government demonstration calling to get his resignation following the country’s  economic collapse .

Demonstrators marched to Sri Lanka’s commercial capital of Colombo early Saturday. They leaped security fences surrounding the particular residence and overran the president’s security forces. Rajapaksa was evacuated from the structure around 1000 local period, his secretary Gamini Senarath told  Bloomberg .

“ The president had been escorted to safety, ” a senior defense supply told AFP. “ He or she is still the president, he or she is being protected by a army unit. ”

Alleged video of the president fleeing on the naval ship.  

Footage uploaded to social media marketing platforms from the president’s residence shows thousands of protesters encircling the palace and then charging inside.  

Best Minister Ranil Wickremesinghe held emergency talks with party leaders before the parliament loudspeaker during the unrest to decide what was next in resolving the worsening socio-economic crisis in the nation of 22 million people.  

Lawmakers asked Rajapaksa to relinquish his power to allow a new leader with a parliament vast majority to regain control and find a swift resolution to high inflation and shortages that have angered people for years.  

The debt-laden economy of the tiny  South Asian nation  provides “ completely collapsed ” as it lacks foreign exchange reserves to transfer essential items such as food and fuel. Shortages have materialized as the government began rationing goods last month.  

Even though the federal government has held talks with all the IMF, India, China, and Japan for new credit lines as well as spoke with Russia about  purchasing heavily reduced crude , the country inserted a terminal phase where  social unrest is spiraling out of control.  

Visual Capitalist’s Avery Koop details  several reasons for this particular crisis and the  economic turmoil   has sparked unrest during the last several months.   This visible breaks down some of the elements that led to Sri Lanka’s present situation.

The Sri Lankan crisis carries the opportunity of an Arab Spring-style eruption across other countries that could quickly morph into a good “ Everywhere Spring” because people worldwide are angered by high inflation plus shortage of food and energy. This eruption in unrest could eclipse the trend seen in 2011 that spread across the Arabic-speaking world because of high food prices.

Everyone’s favorite permabear, SocGen’s Albert Edwards, first warned about the  consequences of central banks injecting   report amounts of money into the global economy in late 2020 and how it could spark soaring food prices, similar to 2011, exactly where social unrest and revolutions were seen in many Arabic countries.  

Edwards’ prediction appears to be actively playing out. It could be much worse than a decade ago as much of the world experiences economic hardships and what some believe may be the emergence of stagflation.  

Can the fall of Sri Lanka signal that will weak, heavily indebted  countries worldwide   are about to fall such as dominos?  

Infowars initial warned of Sri Lanka’s food riots signaling worldwide political turmoil in Apr:

Breaking: Sri Lanka Prime Minister Issues Statement That Could Signal Global Fall

Global Collapse Has started: Police Kill Protestors Within Sri Lanka Food Riots

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