It is possible to go through an entire education to PhD level in the very best schools and universities in either the American or British system without any of your teachers or professors breathing the words “Friedrich Hayek”. This is a pity.

Hayek died 25 years ago last week (March 23) at the age of 93, yet his ideas are very relevant to the 21st century. He was the person who saw most clearly that knowledge is held in the cloud, not the head, that human intelligence is a collective phenomenon.

What Hayek argued is that human collaboration is necessary for society to work; that the great feature of the market is that it enables us to work for each other, not just for ourselves; and that authoritarian, top-down rule is not the source of order or progress, but a hindrance.

This explains why free market capitalism is pro-humanity, and why opposition to it is anti-humanity.

This is about What We Know and.. What We Don't Want To Know.

Let’s start by looking at what Wikileaks revealed about the CIA in their recent “Vault 7” document dump, which you can find here.

I am taking these leaks as real. Whether you like Julian Assange and his team or not, they have a stellar record of presenting the truth.

The ruling gangs in DC and allied media look very, very bad in comparison. I believe Wikileaks far more than I do politicians and news-readers, and I think that's the only rational choice.

Also, please bear in mind that new batches of CIA leaks may appear at any time. According to Assange, the recent batch was less than 1% of what they have. Perhaps the remaining documents will be very mundane, but I rather doubt it.

With that said, there are five big revelations I think you should see:

The US shale industry has become a hydra-headed monster for Russia – and OPEC too. Before they have contained one threat, fresh dangers keeps popping up in new and expanding zones.

This war of attrition in the crude markets is lasting far longer and biting deeper than the energy exporting states ever imagined. It profoundly alters the geo-strategic contours of energy, and the global balance of power.

New technology is reviving old US fields already written off as largely exhausted, and in the latest twist the impetus is spreading to 'super-basins' in Latin America that threaten to replicate the US success story in short order.

"The tiger is out of the cage and it is going to be very hard to put it back in again," says Gerald Kepes, upstream chief for IHS Markit. "There are multiple basins that could really take off."  Yes, out of the cage and eating the Russian bear alive.

Last week, the Dutch elections of March 15 were billed around Europe and beyond as a battle royal between the forces of populist evil, as represented by Geert Wilders and his Freedom Party (PVV), and virtually everybody else in the motley crew of Dutch electoral politics.

The victory of prime minister’s Mark Rutte’s VVD party (which lost 20% of its seats) over Wilders’s PVV (which added 25%), was greeted rapturously as a monumental defeat for populism and a great triumph for Europe across the political spectrum. In fact, it was nothing of the kind.

If its coverage showed anything, it was that the European press, much like the American mainstream press, has become a one-trick pony that is good at demonstrating political bias, but rather useless in helping one understand where Europe is going.

For these elections did have some profound implications for the future not only of the Netherlands, but all of Europe, that were nearly completely missed in the tons of ink spilled on partisan post-mortems.

Most profoundly: an openly Islamist party made it into a European parliament on its very first try.  This is a paradigm change documenting the growth of political Islam in Europe.

The revelation making the rounds again about Obama, how he sneaked through $221 million to his Palestinian terrorist friends during the last hours of his presidency, makes it elaborately clear that he was always in it for himself and for his pals.

For eight years Israel was betrayed and America was duped by a charmer.

There are movies about such men -- Tony Curtis in “The Great Impostor,” or Matt Damon in “The Talented Mr. Ripley” -- about men skilled in the art of deception. Through guile, a ready smile, a quick tongue, they charm their way up the ladder from one bamboozled household to the next.

Their papers are never in order, but they manage. They manage to reach the top. Both Curtis (whose film was based on a true story) and Damon did not know a thing about medicine or airplanes but they managed to run hospitals and to fake it as pilots. They got caught. But before that they had everybody fooled.

Sound familiar? Surely not to Progressives who wanted to be fooled or didn’t really care. So long as Obama was their choice he could do no wrong.

But to the rest of America, and the world, the damage bitterly lives on.

On three separate occasions since 2013, the US Federal Reserve sent shock waves through the global financial system when it tried to tighten monetary policy, and each time it was forced into partial retreat to halt the mayhem.

Over recent months the Federal Open Market Committee has been careful to take the global pulse before acting. It now hopes the coast is clear. Yesterday's (3/15) quarter point rise in the federal funds rate to 1% has been so loudly signaled in advance that investors have already adjusted.

Emerging markets seem better prepared, so far able to shrug it off. China has restored confidence in its exchange rate regime. Capital flight appears to be under control. Europe's shift towards bond tapering reduces the risk of a rocketing dollar. "We're not overly worried about downside shocks," said Janet Yellen, the Fed chairman.

Yet nobody really knows whether the world can handle a total of six rate rises over the course of 2017 and 2018 as sketched in the Fed's 'dot plots' scenario.

The recent (3/03) attack on a BBC television crew in Hunan province, China, reveals once again the Communist Party of China’s brazen thuggery and out-of-control bullying.

To physically attack a major foreign media crew, smashing their equipment, and then to force them to sign a confession is the most public example of what has been apparent for several years: Xi Jinping’s regime behaves more like gangsters than government.

Yet just as the assault on the BBC helps highlight China’s aggressively repressive behavior toward anyone, Chinese or foreigner, deemed to dissent or threaten the regime’s interests, it is only the tip of the iceberg.

If government-backed thugs can behave that way toward the international media, imagine how much worse it is for Chinese people?

Since he became president, Xi has presided over a dramatic deterioration in human rights over the past four years: