Duty to Warn: The Coming Debt Limit Crisis

Dave Troy
9 min readOct 20, 2022


Sacha Stone, former Slovenian President Janez Drnovsek, and Jeffrey Sachs in 2007. (humanitad.org)

This article is a restatement and slight expansion of a Twitter thread (source, thread-reader) posted on October 19, 2022. This is a case where, in the process of doing research for a long-form piece, we have assembled facts that simply can’t wait to be shared; there is a duty to warn. Please read, and share.

We have assembled information that suggests there is a credible near term threat to the global financial system and economic stability. The threat is in progress; there are multiple factors in play, but the most urgent is the upcoming authorization to increase the US debt ceiling, early next year.

Recent pieces about the impending debt ceiling crisis. (Washington Post; Rampell, Scott)

Republicans are threatening not to raise it; causing the US to default on its debt, which will have catastrophic effects on the dollar and make it more expensive for the US to borrow. This threat became evident last year; Republicans threatened default last December, but caved at the last minute. The timing wasn’t right.

But it may be now — the Ukraine war is underway, it’s winter in Europe, gasoline and energy prices will be up, Putin can continue nuclear blackmail, and China may move on Taiwan — a perfect storm.

This kind of economic shock played a significant role in Putin’s rise to power. Jeffrey Sachs, a Harvard economist now at Columbia, borrowed ideas from Poland’s transition to free market principles in architecting Russia’s privatization.

Tulsi Gabbard and Jeffrey Sachs on The Tulsi Gabbard Show, October 18, 2022. (YouTube)

Jeffrey Sachs is active today, coordinating on pro-Kremlin disinformation campaigns with people such as Tulsi Gabbard. This week, he was the very first guest on her new podcast. Gabbard has been vocal in her support of Russia, and pushing anti-NATO views.

Jeffrey Sachs and Sacha Stone collaborated on the UN Millennium Development Goals (2009, Source)

Sachs has been working with questionable characters for quite some time. In early 2007, he partnered up with Sacha Stone, a failed rock musician, to help form ersatz NGO “Humanitad.” For several years, the two worked together on the UN Millennium Development Goals (goals for 2015 which preceded the current Sustainable Development Goals).

Stone has been working with a wide range of people promoting “PizzaGate”, QAnon, and related theories for years. His International Tribunal for Natural Justice is built around exposing child trafficking, QAnon themes, anti-5G, COVID denial, and the like.

Graphics promoting events for Sacha Stone. (Google Images)

His current disinformation project is called “Arise Guerrilla News” which has featured appearances by Michael Flynn, Leigh Dundas, Ann Vandersteel, and many others connected to MAGA, QAnon, the Constitutional Sheriffs and Peace Officers Association, and related groups.

This is an offshoot of his 2021 tour of the US with COVID denier and fellow conspiracist Robert David Steele. Steele died of COVID in August 2021. The tour was called ARISE USA and featured speakers such as Steele, Stone, Dundas, Richard Mack, COVID denier Dr. Sherry Tenpenny, and others.

Stone is also part of an initiative called Planet 3000, which aims to shift the world to a “Noospheric Constitution.” This idea, rooted in Russian Cosmism, is pop-science among the Russian elite, and at the core of Russian nationalism; see chapter one of this book on Russian nationalism by noted Russia expert Marlène Laruelle.

Excerpt from a presentation by Nina Goncharova at the RIO+20 summit in June 2012. (Source)

Nina Goncharova wrote a book called “Rainbow Earth: A Vision from the Future” that describes the Noosphere plan in great detail. It includes essays from Sacha Stone, Barbara Marx Hubbard, and José Argüelles, who are all connected to this — as is the Russian cult leader Vissarion. See pages 214–222 of the book for details.

Diagram of “Nooscope” from Vaino paper; Presentation by Liubov Gordina, 2000. (BBC; Facebook)

Most importantly, the Noosphere idea was adopted by Putin’s Chief of Staff Anton Vaino, and by Putin himself, who has been touting it as the basis for “sustainable development” agenda since 2000 (APEC Summit, Brunei, Nov. 2000).

Jeffrey Sachs is director of the UN Sustainable Development Solutions Network, which shares many ideas with the “Noospheric constitution” concept; he also consults with Tsinghua University’s Global Leadership Program in Beijing, directed by John Thornton. Sachs has been vocal in his support for Russia, China, and the United Arab Emirates, and in promoting anti-NATO views.

John Thornton is former president of Goldman Sachs and is now executive chairman of Barrick Gold Corporation. He is also a colleague and noted fan of Steve Bannon, who is also ex-Goldman, and familiar with China. Bannon has called Thornton (who, according to a source familiar with the matter, was deeply involved with the decision to appoint Lt. Gen. Michael Flynn as National Security Advisor) a “mentor.”

Foster Gamble at the Global Breakthrough Energy Movement Conference, 2013. (Source)

Foster Gamble, another purveyor of disinformation, outlined a strategy which sounds familiar from current reporting on Putin: form an alliance of BRICS countries to challenge the West. He says so explicitly in this video at a “free energy” conference in 2013. In the audience? Sacha Stone and QAnon promoter Lisa Clapier (Snow White) — four years before QAnon began.

Dr. David E. Martin appeared in the COVID-denial film “Plandemic II” and participated in January 6th events; he participated on a panel with Sacha Stone at the same conference in 2012.

Lisa Clapier (aka QAnon’s “Snow White” in 2013) and Dr. David E. Martin (2021).

Gamble specifically says (even then) the goal will be to challenge the dollar and introduce new currency backed by metals, stating this will be “the beginning of the end of fiat currency.” And in fact, this is Putin’s plan today: to pursue metals-backed digital currency.

Sacha Stone and Foster Gamble also collaborate with Sean Stone (son of Putin propagandist Oliver Stone). In this video, Sacha and Sean talk about the end of state sovereignty; Sacha explicitly rejects the US constitution — “I don’t venerate it” — making his tours courting US “patriots” all the more concerning.

Expect Musk, Thiel, West, Trump, Flynn, Bannon, and their network in the US and UK to light up in support of this agenda. It’s a global wrenching against central banks and perceived “communism.” They’re trying to end it globally like Sachs did in the USSR, enabling Putin.

This network cares little about institutions or politics; they aim, like Clausewitz, to achieve through economic and information warfare that which cannot be achieved through politics. This is why they defy, defile, and denigrate institutions at every opportunity. They simply do not expect consequences.

We have a serious problem on our hands, with deep roots. Russia and the GOP are the tip of the spear; China is the lever; Ukraine is a prelude to a much broader conflict. The US, UK, and each country has been engaged in navel-gazing worrying about its internal concerns instead of the bigger picture.

This is the same kind of failure to “connect dots” that preceded 9/11, and indeed this moment carries analogous themes and weight. But if we fail to address this, we will sleepwalk into a comparable disaster. Raise concern with your Congressperson; send them this article.

Media is catching on that a deliberate financial disaster is being hatched; but they don’t know why or how, exactly, or the roots of this effort with Sachs, Stone, Gamble, Flynn, Bannon, Thornton, and their network. We need to close that gap.

The debt ceiling is also being used as a cudgel to cut budget for sending more aid to Ukraine. Much of the right-libertarian-owned GOP is, of course, Putin-aligned and will be happy to pursue this strategy to eliminate government and privatize… everything.

We don’t have much time. The US election is in 19 days; the UK is in tatters; if GOP takes the house they can follow Sachs’ “shock therapy” plan in January. Even if they don’t it could be a dangerous showdown. And it will be in the context of increasing chaos.

If the whole media ecosystem takes this information and runs with it, we may have a shot at avoiding a major showdown and possible collapse. If, as usual, folks wring their hands and equivocate, we will not change course.

Fascists create a crisis so they can then “solve” it. Every student of fascism will tell you this is part of the playbook. Sachs and friends are pushing for collapse so a new “multipolar world order” can be ushered in.

It may seem counterintuitive that “capitalists” would expose themselves to such risk and losses. Think again. Fiat money is fake to them. See the above quote from the 1934 coup attempt. Also, they can plan ahead for it, and profit from it.

Excerpt from article about the “Business Plot” to overthrow FDR in 1933–1934. (Source)

Peter Thiel is securing Maltese citizenship and stocking up on gold bars, as is Russia. China has been nearly silent as this unfolds, and entered into an uneasy but seemingly durable alliance with Russia on February 4th.

Jeffrey Sachs has also collaborated with the “Dialog of Civilizations Research Institute,” a thinktank founded by Putin crony Vladimir Yakunin and Nicholas Papanicolaou — funded by Russia and sponsored by China’s CGTN. Papanicolaou also heads the Knights of Malta (Sovereign Order of St. John) and is part of the influential charismatic Christian network, the New Apostolic Reformation.

Yakunin also helped create the Russia-US Christian group, the World Congress of Families in 1995 with Allan Carlson, a professor from Hillsdale College, which is tightly connected to the DeVos family and the Council for National Policy. Yakunin’s wife, Natalia Yakunina, was instrumental in passing the first anti-abortion bills in Russia, modeled on legislation from the US.

Here is some more historical background from 1993 on Professor Sachs, and his involvement in the Russia shock in the 1990’s. Obviously we can’t prove without more research into what his intent is, but his associations and actions raise serious questions.

There are several other relevant layers beyond this, but this is the most urgent threat we face. Obviously, any nuclear provocations would only make this all worse. The people behind this movement are unlikely to turn back without being forcefully blocked, as the sunk costs in this plan are massive and go back a long time.

This is the connective tissue between many initiatives people are detecting and trying to map. I hope this helps with sense-making, and that we do something about it before it is too late. Looking back and saying “I told you so” will not be satisyfing. Let’s fix it.

We are continuing to research our long-form investigation and will publish it when it’s ready. However due to the time sensitive nature of this information we didn’t want to wait even one day to get it out to the world.

Update: I reached out to Jeffrey Sachs for comment, and someone with his office responded with this statement: “He doesn’t recall anything about this [Global Impact Forum] in 2012 or Sacha Stone.” I don’t find this to be especially credible, given that they worked together for at least 5 years.

Additional Resources:

We’re interested in the major historical trends that shape current events. Tips? Ideas? Drop us a line via email or Twitter DM.

For an even deeper dive, check out my work in The Washington Spectator, my other writing here on Medium, and my podcast series, “Dave Troy Presents,” wherever you get your podcasts. More information is available at davetroy.com.



Dave Troy

Investigative journalist addressing threats to democracy. Public speaker, writer, podcaster. @davetroy on Twitter. See davetroy.com for contact info.