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Old 10-23-2019, 04:16 AM
Danny B Danny B is offline
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Join Date: Oct 2012
Location: L.A. Ca.
Posts: 4,851
Chaos in every quarter

Pervasive lies. Armstrong is a trader and investor. The current regime of Central Banks is specifically tailored to enrichen the investor at the expense of the actual producer. Naturally, Armstrong is going to support the investors (gamblers) with MY money, no less.
QUESTION: You commented that the central banks had a difficult position when they were on the gold standard compared to post-1971

"ANSWER: The United States created the Federal Reserve in 1913. Prior to World War I, central banks were long-established in Europe like the Bank of England in 1694. What you have to understand is that BEFORE World War I, the central banks of Europe were faced with two duties because there was the gold standard.

1.) The first was to defend their currency’s parity with gold and thereby the entire edifice of the international gold standard. This required raising interest rates and keeping the total volume of money and credit under control, often with contractionary effects."

Back then, we had small "contractionary effects"
CNBC “If you look at the market historically, we have had, on average, a crash about every eight to 10 years"
Abandoning the gold standard has brought big crashes as opposed to small contractions.
The crashes serve to skin the small investors and allow the banks to buy up everything at fire-sale prices.

Armstrong, "2.) The second responsibility was to act as a lender of last resort for their banking system by supplying emergency liquidity. This necessitated an expansion of credit and a lowering of interest rates. "
The original charter of the FED allowed it to do OVERNIGHT loans for good collateral at punitive rates. The FED created the overnight liquidity and then, destroyed it upon repayment. It kept the interest.
Armstrong, "Post-1971, the central banks were no longer required to intervene to maintain the exchange rate relative to the gold standard"
OK, so, the presses went into overdrive to supply liquidity to ALL the speculators.

"Paul Volcker raised interest rates insanely into 1981 to stop inflation, but he ignored the consequences that would have on the value of the dollar on world markets. "
NO MENTION of where this inflation came from. "Ignoring the consequences" came first. Inflation came later.`

As a general rule, A State would go off the gold standard every time that it wanted to get a war going. The Bretton Woods agreement tied the U.S. dollar to gold. And, it tied all currencies to the dollar. The Korean war was small potatoes. Pox Americana had to destroy the Bretton Woods agreement to get the Viet Nam war rolling.
The bankers absolutely hate the idea of a gold standard because it would put most of them out of business.
Trump threatens to put the war industries out of business. The war mongers threaten to get rid of Trump for such effrontery.

China has 10 times the steel producing capacity as America. At one time, the excess steel capacity in china was equal to the total steel capacity in America and Europe.
"China, the world’s No 1 steel producer, has said it would lay off millions of workers in the coal and steel sectors in a bid to reduce industrial overcapacity. However, coal mining and steel making were among the heavy industries that contributed to about 40 per cent of the Chinese economy in 2018."
So, China is going to spend billions producing more steel for more infrastructure.
NOPE, can't have layoffs.

"In the first quarter of 2019, global debt hit $246.5 trillion.
The first-quarter spending spree brought the debt pile to 318% of global GDP,
According to the World Bank, countries whose debt-to-GDP ratios are above 77% for long periods experience significant slowdowns in economic growth. Every percentage point above 77% knocks 1.7% off GDP, according to the study, via Investopedia. The United States’ current debt-to-GDP ratio is 106.5%.
In other words, the country is accumulating about the same amount of debt – currently $22 trillion – as its annual economic output. Each year another trillion dollars gets added to the national debt."

"As the graphics below show, every couple of hundred years there has been a change in the world currency, dating all the way back to the denarius of ancient Rome.
"“Gold is... the trust anchor for the financial system. If the whole system collapses, the gold stock provides a collateral to start over. Gold gives confidence in the power of the central bank's balance sheet.”"
China has quite a large anchor. Is America producing manufacturing gold via Bedini's process?
The rest of the article is an inti0Trump tirade..

Debt per capita.

10/21 Merkel says German multiculturalism has failed – Reuters

That dirty commie 8itch did her best to destroy Germany by bring in unvetted immigrants. Switzerland has Italian cantons,,, French cantons and, German cantons. They get along fine they do NOT have any Somali cantons.
Merkel won the Kalergi prize for the damage she has done.
Wiki, "The Kalergi plan (Italian: piano Kalergi), or sometimes called the Coudenhove-Kalergi Conspiracy, is a far-right, anti-semitic, white nationalist conspiracy theory, ..."
Yes, of course it is anti-semitic and white and a conspiracy.

"a plan to destroy the indigenous nations and peoples of Europe. What Kalergi called for was not only the destruction of European nation states but also the deliberate ethnocide of the indigenous, mostly Caucasian race of the European continent. This, he proposed, should be done through enforced mass migration to create an undifferentiated homogenous mass of serfs to be dominated by a wealthy self-electing elite. These are all Kalergi's crude and racialist words, not mine:"
You can see why this appeals to the master race.
Sweden Is Sliding Into Utter Chaos...and The Media Is Applauding

10/21 Will the Democratic party exist after 2020 election? – OffGuardian
10/22 Pompeo says Trump is ‘fully prepared’ for military action against Turkey – CNBC
Uh, Turkey is a member of NATO and, has 50 nukes. I suspect that Trump is trying to sow enough dissension that NATO is dismantled.
10/22 Is democracy a dying species? – Pat Buchanan
In Catalunya, the Guardia Civil is specifically beating up members of the press.
Trump - US Military Companies Against Bringing Troops Home From Syria

50% Of World's Banks Too Weak To Survive Downturn
Omniviolence Is Coming And World Isn't Ready

Spell check doesn't recognise Omniviolence. Are they going to beat up omnivores?
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