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  • Man started out as a hunter-gatherer. He consumed what he produced. Later, man developed farming and animal-husbandry. He still consumed what he produced. As he got more efficient, he produced more than he needed. He invented barter. In a barter system, you always have something of value in hand. Barter became inconvenient because of the mismatch in needs/wants. He developed various intermediaries to direct barter. The best intermediary was something that the greatest number of people needed or wanted.
    Salt was universally needed and, enjoyed widespread acceptance as an intermediary. Hence the word "salary" Eventually, precious metals like gold became the standard intermediary. With the system of intermediaries that had intrinsic value, you ALWAYS had something of value in hand.

    With the invention of paper money, you had a claim on something of value. Since the world is full of people who have no intention of working or producing, there is always a great motivation to corrupt the paper money. Once that the production of paper money is disassociated from productivity, the effortless creation of more paper money runs amuck. In a general sense, the number of claims on the fruits of production greatly increase while the actual "fruits" remain the same. This normally causes the "fruits" to go up in value. This price inflation results when claims go up but, productivity does not.
    In the age of automation, productivity is primarily constrained by a lack of consumption.
    Wages are the connecting link between production & consumption. If wages are lacking, consumption does NOT rise, regardless of productivity.

    The bankers are the primary corrupters of paper money. They are parasites, rather than producers. At the same time, they have great control over the growth of the money supply. Since they are non-producing parasites, they have great motivation to corrupt the money supply in their favor.
    50% of Americans of working age are not in the labor force. Consumption and the velocity of money are falling drastically. This greatly threatens the credit bubble. The current offered solution is; send free money to people to get them to maintain the credit bubble by making payments.
    In the age of covid, the lockdowns have killed confidence. People are hoarding cash and, skipping loan payments. The advent of a second lockdown will make things much worse.
    106 million loans are not being serviced. The bankers are inducing the FED to make up the difference. Regardless of stimulus paid to people, they are not going to regain confidence. They are not going to pay mortgages. $1 trillion a month stimulus is now proving to be inadequate.

    The other great non-producer, the State, is having equal problems at squeezing out sustenance from the taxpayers. The great Blob State, comprised of many millions of non-producing bureaucrats, worldwide can NOT survive on a shrinking tax base. Parkinson's Law states that this blob will grow by 6% a year regardless of work load. The Western world is being heavily pushed into a world socialism scheme as a panacea for the loss of wages, employment and, the tax base.
    The great fault of socialism is that it kills off motivation. The blob State labors away at inconsequential efforts that are all designed to provide a sinecure for people who are unemployable in the private sector. These many millions of bureaucrats do NOT need any motivation other than a paycheck. Socialism looks wonderful to people who never had any motivation to begin with.
    Socialism demotivates the actual producers. As the ever-growing demands of the blob state grow, the demotivated producers cut back production. The bankers demand more. The bureaucrats demand more. The whole cadre of non-producers demand more. The whole system goes bankrupt from the imbalance.

    The Cuban government just told Cubans to grow food or, starve.
    The collapse of socialism generally results in a collapse of the food supply. Man must revert to being a hunter-gatherer.


    • Recovered after everything erased;

      I need to report more on trends and, less on specifics. There is just too much financial news to try to make sense of it all. We all know that various governments have been creating liquidity by the mega ton. One would expect this tactic to result in hyperinflation. John Williams has a good vid on hyperinflation.
      Hyperinflation can not be over-simplified. It depends on; money supply, velocity and confidence.
      For the question of money supply, there is some new news.
      Revolving credit debt drops to $996 billion—the lowest since the great recession
      Fed balance sheet below $7 trillion, repo drops to zero for first time since September

      This is definite deflation from previous extreme levels. Where will it play out,,, which markets?
      Here is an excellent article from a guy who lists his previous predictions and, how they played out. He was often very correct.

      The money supply in the lower loop has been heavily goosed by $trillions in stimulus. "They" want us to continue to make payments up the credit chain. We are NOT doing this.
      Confidence has been lost and, we just quit paying our debts. This requires more and more stimulus to the upper loop to make up the difference.
      Prices in the lower loop have even fallen some. "They" print money and hand it out. "They" can't print confidence so, we limit our spending to just essentials.

      "They" are frantic to keep the banks capitalized. If the FED, et al have cut back on the creation of liquidity, this may be a sign that they are going to throw in the towel
      when it comes to unlimited liquidity.

      America was created as a republic because all democracies fail. Slowly, over the years, democracy has infiltrated our system. The handouts have slowly increased. Our status as "reserve currency" has made it possible to support many millions of non-producers. Typical for all democracies, the GOV goes bust. FED GOV is currently treading water at survival. Armstrong said that the U.S dollar will be the last to fall. Armstrong frames all of this as a fight against socialism. This is mostly true but, it isn't the whole story.
      Galloping automation is a huge pressure on the system. Armstrong writes about how Argentina went from riches to poverty from runaway socialism.

      C.H. Smith; "The fantasy of linearity holds that a 10% decline in revenues, profits, rents collected, etc. will only cause a 10% decline in isolated parts of the economy."

      As the inverted pyramid collapses, the effects will be non-linear: a 10% decline may trigger dominoes that end up generating an 90% decline in "value" and "wealth" because the collapse of collateral to a non-fantasy valuation will implode all the phantom valuations piled on steadily more fragile and fantastic layers of phantom "capital."
      The fantasy of the Neofeudal Aristocracy is that the losses can be painlessly transferred to the debt-serfs and taxpaying peasantry.
      The Neofeudal Aristocracy overlooks one terribly inconvenient fact: the debt-serfs and peasantry own next to nothing. The non-linear collapse of phantom capital will have asymmetric consequences: all the "assets" most likely to go to zero are owned not by the peasantry but by the Neofeudal Aristocracy.

      7/11 Market heads for worst earnings season in 12 years amid slowing recovery – CNBC
      Markets have no earnings. It is only the rise in prices that keeps investors from leaving. If stimulus has stopped,,, and earnings are non-existent, what will support markets now?
      7/11 Global public debt, fiscal deficits to reach all-time high, IMF warns – LiveMint


      • But let me throw a bit of reality into the mix and it’s absolutely mind boggling.
        5 stocks have just added over half a trillion in market cap in just 6 days. Six days. Ponder that:
        5 stocks now have a combined market cap over $6.5 trillion.
        These very same stocks have added over $1.6 trillion in market cap in 2020:"
        So, the hyperinflation has invaded the upper loop. Eventually, gravity will take over.
        "It gets worse. Since 2019 these stocks have added over $3.2 trillion in market cap:"
        "We Are In Irrational Exuberance": Mike Novogratz Warns Stocks Are "Unhinged From Reality"

        7/11 Catholic church lobbied for taxpayer funds, got $1.4b – AP
        Yep, they had to pay off the pedophile lawsuits.
        7/10 House Armed Services Committee approves huge military budget – Intercept
        Injecting liquidity to preserve jobs. What happens when this comes to an end?

        "The coronavirus pandemic inflicted a “swift and massive shock” that has caused the broadest collapse of the global economy since 1870 despite unprecedented government support, the World Bank said."

        LA Teachers Union Says Schools Can't Reopen Unless Charter Schools Get Shut-Down, Police Defunded

        They also want Medicare-for-All, a wealth tax, a federal bailout...


        • Here is a good article on just how much the Dems are pushing the country towards socialism.

          Socialism always breaks the bank. Mike Adams claims that California is going to crash in 90 days.

          Europe is quite socialist and, the members can't agree on anything.

          Covid debt
          "If we add government and private debt, we are talking about 200 trillion US dollars of debt, a global increase of over 35% of GDP, well above the 20% seen after the 2008 crisis, and all in a single year."
          "This brutal increase in indebtedness is not going to prevent economies from falling rapidly. The main problem of this global stimulus chain is that it is entirely oriented to support bloated government spending, and artificially low bond yields. "
          "The balance sheet of the European Central Bank has increased by almost two trillion euros so far this year and is already more than 52% of the eurozone’s GDP, much higher than that of the Federal Reserve, which is in 32.6% of the GDP of the USA"

          The banks;
          "the S&P 500 Financials index is still down 26% since last December. Wells Fargo alone is down 55% this year"

          The next shearing;
          7/14 Tesla stock went into reverse and took the Nasdaq with it – CNBC
          7/14 Ten thousand day traders an hour are buying Tesla shares – Yahoo!

          7/14 Trump’s demand that schools fully reopen spurned by big districts – Politico
          He wants to put LOTS of distance between him and the lockdowns.
          7/14 Will the Federal Reserve cause the next riots? – GoldSeek
          There will be lots of contenders on that question.
          7/13 Cost-cutting and covid-19 could catalyze election day chaos – Zero Hedge
          There will be lots of contenders creating chaos.

          7/14 If the US was Japan, the Fed’s balance sheet would be $25 trillion – Zero Hedge
          "They" are pumping in about $1 trillion a month. Just give it a bit more time.
          7/13 Federal Reserve’s $3 trillion virus rescue inflates market bubbles – Reuters
          7/13 Wall Street reaps a bonanza on Fed’s support for corporate debt – Yahoo!
          7/13 American investors are plugging the U.S.’s record budget deficit – Yahoo!
          GOV prints money and, force-feeds it into corporate America to preserve employment. Corporate America pumps liquidity BACK into GOV. GOV must create a LOT of liquidity to make sure that some of it comes back into bond auctions. At the same time that Trump is trying to preserve employment with liquidity, the Left is trying to destroy employment.
          7/14 California to close restaurants, theaters and bars as cases rise – CNBC

          Fiscal cliffs and the self-destructing Treasury – Michael Pento

          "Also of note should be that regardless the crisis (Lost decade(s), Fukushima, 9/11, GFC, Coronavirus) the answer has been the same; cheaper debt to incentivize more debt and call it "growth" (without a concern how it would ever be repaid)."
          Now the US government has decided even the best efforts of US consumers to consume beyond their means isn't adequate...and thus official government debt to GDP is soaring (and of course, this doesn't take into account the 2x to 4x larger unfunded liabilities that did not exist prior to 1950). Like Japan, the US federal government and Federal Reserve have taken an ever increasingly "interventionist role", to great effect for asset valuations. One note on the estimated return to working age population growth by mid 2020's in the chart is entirely dependent on the unlikely return to high rates of immigration."

          This article lays out in detail the fact that we can NEVER return to economic growth while we have population shrinkage. The feces-for-brains in Europe came to the conclusion that they could bring in dirtbag, worthless immigrants and, growth would return. They imported crime & pestilence from "nations" that were famous for crime and pestilence.

          The tribes from North Africa are famous for NEVER assimilating into a new home country (host). How did the French ever think that Somalis would ever be an economic benefit?
          Just part of the plan to destroy Europe.
          Practical Idealism: The Kalergi Plan to destroy European peoples [Coudenhove-Kalergi, Richard, Dimitra Ekmektsis] on
          Last edited by Danny B; 07-14-2020, 04:29 PM. Reason: Duhhh


          • Armstrong; "We will witness the collapse after 2032 and the shift to Asia. We are looking at 2028 as the start of the major collapse which should take just 4.3 years from that target date. The collapse will most likely take place more like the demise of Yugoslavia whereby it split according to religion but this time there will also be political philosophy. As Western Society begins to buckle at the knees going into 2028, we should expect to see a draconian attempt to retain power starting in 2024."

            As far as a split goes, will this split the cities against the rural areas? Will it pit the blob-state parasites against the real producers?
            7/16 Seattle raises taxes on jobs but exempts public employees – FEE The sacred cow blob state.
            One of the failing points of communism,,,, you can't force the farmers to work for free.

            John Hussman writes a very good article that shows stocks MUST continue to rise in price, no matter the earnings or, anything else.
            Creeping fascism created the corporatocracy AND the destruction of the nuclear family. Creeping socialism helped break up the family by giving social support to everybody who didn't want to abide by any rules.
            The whole pension system depends on stock dividends. The State must pump liquidity into the equity markets or, face the destruction of the pension system.

            The FED is pumping in liquidity by the $trillions. This isn't going to work forever.
            Smith; "
            Meanwhile, the entire food chain of landlords, banks, local government, employees, etc. depends on enterprises returning to 100% of 2019 revenues. As tenants stop paying rent, landlords default on mortgages, sending banks into insolvency, leaving local government with less tax revenues and employees with fewer job prospects.

            To a degree few appreciate, the "recovery" since 2009 has been dependent on over-spending, over-borrowing and over-speculating: as spending, borrowing and speculation all pull back to what would have been "normal" levels two generations ago, the economy collapses because it's become completely dependent on over-spending, over-borrowing and over-speculating.
            As consumers and businesses retrench, borrowing declines while defaults and bankruptcies eviscerate bank profits and balance sheets."
            The lower reaches of the financial food chain are already dying, and every entity that depended on that layer is doomed: the small business die-off will bring down distributors, banks, landlords, and employment, and as the this layer collapses then the top predators will starve to death as well: Big Tech, healthcare, higher education, tourism, local tax revenues, etc.
            The clouds are spreading and thickening, and the dawn sky is tinted an ominous red. This is a financial extinction event, and the Fed's pathetic shamans can't reverse history.


            • I found a couple of good articles.
              Graphs show an enormous rise in the quantity of money.
              Late Degenerate Capitalism
              That’s when a capitalist economy is taken over by the financial markets. Economists no longer regard economic data as a measure of the health and wealth of the nation but for what impact they might have on the financial markets.

              Excellent article about how monetary velocity affects inflation.
              America long ago passed "peak cheap oil". The State pumped money to speculators that financed fracking to try to keep a low price on carbon energy. All of that is coming to an end.

              In Less Than 14 Days, The Government Will Sever Its $600 Per Week Unemployment Lifeline - Mass Civil Insurrection Will Follow...Get Ready
              7/16 Global debt hits record high of 331% of GDP in first quarter – Reuters
              7/17 The forbearance tsunami: 4.1 million mortgages are in forbearance – Dr. HB

              Canada's First 'Mask Murder'? Ontario Police Kill 73-Year-Old Man After He Refused To Comply With Local Mandate
              "It's causing chaos," she said. "If we didn't have to force him and ... tell him that he couldn't come into the store, nothing would have happened, really.
              Seattle City Council Member Suggests Firing White Officers In Massive Reduction Of Police Department
              "The Stakes Couldn't Be Higher" - European Recovery Plan Summit Begins With Leaders At An Impasse
              Armstrong told them in 1989 that this would be the eventual outcome.

              Profs Demand University Police Chief Resign After Seeing 'Blue Lives Matter' Flag At His Home
              "The only way forward is with his resignation. Why is it so difficult to comprehend?"
              The feces-for-brains Left believes that ONLY their values & beliefs have ANY merit.

              Some People Laundered Some Things? Ilhan Omar's Payments To Husband's Firm Top $1 Million
              She has routinely dismissed the inquiries as "smears" and "conspiracy theories."


              • There are 2 main power groups (of non-producers) who are vying for control of everything. They overlap in the area of control mechanisms.
                All socialist countries go bankrupt. Same for centrally planned economies. America is quite socialist in that the State supports a lot of people who are non-producers. This allows the non-producers to replicate and, increase their numbers.
                51% of Americans receive a check from GOV. 44 million receive direct assistance. This is an OLD number.

                What about China? They are a communist country with a planned economy. If any State has a huge blob State, China must be it. The rest of the world has rejected globalism because it is so destructive. China is getting hit very badly. Confidence is melting away. The Chinese version of the blob State is hard at work trying to ensure that you can't hide the money that it demands.
                Why China’s Rushing to Mint Its Own Digital Currency
                China faces bank runs as the financial system crumbles due to multi-front blows
                China's Exports Down 21.4%
                For a couple of decades, China's main export was unemployment. They moved 300+ million self-sufficient peasants to the city where they depended on State mediated paychecks.

                They have other problems also'
                "Almost all of Chinas major infrastructure is now falling apart due to shoddy workmanship, insanely rushed projects, and inferior design and materials. If this dam fails, it will destroy the homes of over three hundred million people and 1/3 of China's economy."
                Yes, the dam is failing. Cracks appeared long ago..
                7/18 China warns of ‘stronger flood’ as Three Gorges dam faces swell – Nikkei

                The blob State worldwide is the mega parasite. It is scrambling to steal everything that can, everywhere that it can find something.
                Armstrong reports that the CalPers State retirement fund is working to steal the 401k plans to make up for it's losses in the markets. Every other member of the blob state is working on tax increases.
                "They Just Take And Take" - AOC Aims To "Soak The Rich" With Proposed New York Wealth Tax

                7/18 With no end in sight, Congress confronts new virus crisis rescue – AP
                The rescues will continue until the cows come home.
                7/18 Tim Duy: Fed is considering letting inflation run – GATA
                The FED has been trying for years to get some kind of price inflation effect out of all their currency inflation gambits.
                7/18 The express train to insolvency – GoldSeek
                So, what will be the eventual outcome of all the liquidity injections?
                7/18 Bitcoin could soon replace government-backed currencies – Casey Research
                Not as long as the GOV has guns.

                7/18 Millions miss their rent payments, tens of millions could be evicted – ECB
                Buy a 12 pack and forget about tomorrow.

                Finally African leaders are catching on to mass murderer Gates.
                He most certainly has a plan for Africa.
                They will be chipped for a new payment system.

                How long can the FEDs keep pumping?

                Just how long can the printing press save the world?
                China Hit By $9 Billion In FX Outflows In June

                The June outflow was tiny in comparison to the massive capital flight observed in late 2015 and 2016, following China's surprise yuan devaluation.


                • I need to excerpt a great article from C. H. Smith.

                  "The greatest scam of the past century is unraveling before our eyes. I'm calling it finance capitalism as a general descriptor of the dominant form of what's called "capitalism" because calling it what it actually is--a fraud that's destroyed the foundations of our economy and society--is, well, a much more difficult sell than "capitalism," which still has some faint echoes of the open markets, etc. that characterized traditional capitalism, which I call naive capitalism because it is incapable of differentiating between the parasitic, predatory finance version cloaking itself as "capitalism" and actual capitalism, in which capital is put at risk, markets are transparent, etc."
                  The absence of morality allowed for regulatory capture. The lucrative money pit called the Viet-Nam war started us down the road to insolvency. Without the "golden flywheel" on the printing press, liquidity creation stole from everybody who had an actual productive job.

                  There are many labels for the distorted, corrupted "capitalism" that dominates our economy and society: I've long used state-cartel capitalism, others prefer monopoly capitalism or crony capitalism.

                  I now favor finance capitalism because the heart of the fraud is finance: printing "money" out of thin air without creating any value or any goods and services. If you can't print "money," then borrow it into existence--that's just as profitable a fraud as printing it.

                  As I explained in Our Wile E. Coyote Economy: Nothing But Financial Engineering (June 11, 2020), the fairy tale that America has a truly capitalist economy no longer aligns with the reality that the U.S. economy is now a decaying billboard of "producing goods and services" behind which the real money is made in financial engineering, a.k.a. legalized fraud.
                  I've discussed this fraudulent distortion of capitalism for years:
                  Has "Financial Innovation" Capitalism Run its Course? (June 22, 2010)"
                  When Capitalism Turns to Cannibalism (July 15, 2015)

                  What Makes You Think the Stock Market Will Even Exist in 2024? (July 6, 2020)
                  Just as Communism was a god that failed, finance capitalism is also a god that failed, an extreme version of crony-capitalism that is nothing more than a mechanism for concentrating wealth and power at the expense of everyone toiling in the real-world economy."
                  "Unfortunately for everyone invested in the scam, all the "wealth" created by financial engineering / legalized fraud is fictitious, i.e. phantom. All Ponzi schemes collapse once the supply of greed-blinded marks dries up, and so the "solution" in our finance capitalism fraud is for the central bank, the Federal Reserve, to become the mark with an infinite checkbook: the Fed is busily conjuring "money" out of thin air to buy corporate junk bonds and other "assets"
                  As Mark, Jesse and I discuss in Salon #13: The "Phase Shift" everyone is worried about has already happened, the meteor triggering the demise of finance capitalism has already hit. "

                  Follow the money to find the influence.
                  Executives Of Bankrupt Companies Made $131 Million In Bonuses This Year
                  7/19 BofE governor signals central bank digital currency is coming – SG
                  NOT going to fly. The hackers are just too good.


                  • Armstrong has a lot to say but, he won't say "Jew"
                    Henry Ford wrote pamphlets about; The International Jew: the World's Foremost Problem eBook: Ford, Henry:
                    Obviously, this denigrates mainstream Judaism.
                    “Economic Hit Man” and Jackals: The Destructive Tools of Empire!
                    In his book, Confessions of an Economic Hit Man, John Perkins detailed the pernicious and destructive economic strategies
                    Whatever, their affiliation may be, there is a group hell-bent on destroying everything for power and profit.
                    Currently, this group has turned their sights on America.

                    "In these trying times, we have to be balanced. Yes, there will be a rise in civil unrest and anarchy particularly post-September 2020. Nevertheless, these times have been orchestrated by a sinister group."
                    "These people have utterly destroyed civilization from sports to a simple buffet, that the invisible strings that bind society together and make it function has been snipped and do not appear anywhere on the horizon for a return."
                    "This entire coronavirus scam is tearing the very bonds of civilization apart."
                    "It is unimaginable that the mainstream media is that stupid. The ONLY reasonable conclusion is that what they are doing is deliberate political terrorism with the intent to distort all evidence supporting the assertion that the government reaction and media chanting about this virus has been vastly overwrought. We are dealing with such dishonesty in the media and governments around the world"
                    "This virus has been drastically manipulated for political purposes and nobody involved will ever admit that they were wrong."

                    Here is an excellent vid showing that the same thing happened to Yugoslavia that America now faces.
                    One big facet of control is the work done to corrupt the minds of the young. "George Washington University were told to read an anti-racism syllabus that said that conservatism as “incompatible” with black Americans who seek freedom. While Hillary Clinton called conservatives “deplorable,” now they are being called racists by GW University."
                    Yes, the race baiting will eventually lead to race wars.

                    Armstrong, "I have stated many times that civilization blossoms when EVERYONE benefits. When one group is given favored status, the process of the decline and fall has begun. There is no need to create laws that specifically guarantee any right to any specific group. The core of a successful civilization is the ALL GROUPS are treated equally. Ethnicity, creed, race, religion, or gender share common rights of equality. They do not share equal God-given talents, but the right to pursue whatever talent they possess."

                    Armstrong, "Anyone who ever took a class in psychology will recognize that what the media and government are doing is clear psychological terrorism, which appears to be directed at breaking the bonds of civilization right down to the core."
                    "Civilization is created by people coming together and bonding. This is the foundation of a civilization built upon a mutual benefit for all. Civilization begins its decline when the government crosses the line and sees itself as the creator of civilization in their delusional world of power. What they are doing with the aid of the left-wing press has been the deliberate instilling of fear in the air that is beyond belief."
                    "Their delusion knows no bounds for they think they can tear the foundation of civilization apart to win at all costs, and then they ASSUME it will end and they will be in power and all we’ll be good."

                    Terms from Armstrong; destroyer of civilization,,,, sinister group,,,, left wing press.. You decide


                    • Obviously, the blob State in the form of national government is hunting sustenance wherever it can steal it. Price's Law says that GOV bureaucracy grows by 6% a year, regardless of work load. The State is comprised of many millions of people looking for an income, regardless of their contribution to the economy. Carbon taxes did not bring the money that they were counting on. The next big bet is; digital currency. That way you can not hide anything from the parasites. The current problem is that people can hide in paper money. That problem is being addressed by the C/V problem where physical money is deemed "dirty" First, they came for the coins. Next it will be the paper notes.
                      Armstrong; "Governments are hunting gold and imposing all sorts of restrictions. From a true barter perspective, silver coins will be easier to use if they end up canceling the paper currency. This is highly likely in Europe first, and then it will migrate to the USA."
                      Jim Willie had lots to say on the matter;


                      • This is an excellent article examining the many facets of MMT. Among other things, it states;
                        "One of the primary characteristics of differentiation between MMT and our current monetary system is the absence of government debt. Under MMT, there is no need for the government to borrow money.
                        Rather than borrow what it needs by issuing notes and bonds, the government spends what it needs, funds its special projects, hires its contractors, and pays its bills"
                        "Acceptance of a sovereign currency in payment of existing debts and obligations is encouraged by a familiar government provocation: taxes. One is more likely to accept payment in the sovereign currency when one knows that taxes and other obligations will eventually be due and can only be paid in money of the same denomination."
                        "The taxes are due later and do not inhibit or postpone in any way the government’s capacity to spend money."
                        "In some ways, MMT is a more factual admittance of what should be an obvious reality. Regardless of any supposed limitations re: a debt ceiling, and independent of all the legerdemain associated with ‘funding’ the government; there are no restraints of material consequence on government spending."

                        The article argues that the State does not need to collect taxes to finance itself. Part of the reason that it collects taxes is; to enforce the utilization of it's in-house currency.
                        Walter Burien has long argued that the State has no need to collect taxes.

                        Armstrong, "We have reached the point of no return. Governments will find it IMPOSSIBLE to constantly roll their national debts as we enter 2021. Any attempt at paying down the public debt or moving into surplus would be catastrophic and undermine the entire world economy. Who are we kidding? The tax burden on each generation will progressively get worse until we see blood in the streets, which seems to be the only solution to corrupt governments."
                        "There are those who now advocate Modern Monetary Theory as the ONLY way out"
                        "Their view of neoliberalism supported by Keynesian Economics has collapsed. Therefore, the solution is to cancel all physical money, eliminate cryptocurrencies, and force their vision of how to create this New Green World Order/Great Reset"
                        Keep in mind that a LOT of people get rich by loaning money at interest to GOV. They aren't likely to wilfully abandon this gravy train.

                        Armstrong has long railed against career politicians. He definitely has a valid point.
                        "The best form of government I have ever encountered was that of the Italian city of Genoa from which Christopher Columbus came. The city was ruled by a Doge (president), who was a member of one of the richest families. This position rotated among the families, but its duration was that of the old Roman Dictator who would be appointed for one year. BECAUSE the position rotated, no Doge would ever impose a draconian law since he and his family would be subjected to it the next year. There was no class warfare because they ran Genoa like a corporation, competing against Florence and Venice, and thus EVERYONE benefited."

                        "My bottom-line political philosophy is that the “We the People” should be in charge directly — not career politicians, EVER!. You have your bureaucrats who run the government who are accountable to the people directly. I do not support people like Soros or Bill Gates using their money to take over huge swaths of government. The office of Inspector General is only a symbolic gesture to the old Roman Tribunus plebis, tribune of the people, who could bring charges against any government official. That power should be restored. I do not support “Republics” nor career politicians that can be bought and paid for."

                        Klaus Schwab,,,, "In other words, we MUST accept his Great Reset. He is in league with Bill Gates and others and sees no problem with destroying jobs and sharply reducing the food supply all to further his nonsense to stop global warming"

                        QUESTION: Mr. Armstrong, why is Bill Gates pushing to eliminate all physical money?


                        ANSWER: This is part of the strategy behind Microsoft. They continuously pretend to update Windows, yet they are tracking what you do to create profiles to sell that information. Eliminating physical money will further that hi-tech goal of knowing everything we do and how much we are worth to sell to the highest bidder. Gates and his wife were behind India canceling their currency, and they are pushing that agenda at the United Nations and in Europe. Only Russia is standing up against Microsoft and Gates.

                        Gates and everyone he buys, like the Clintons, joined him to further his world domination goal. We will see an unending parade of companies joining Gates and his dream. Mastercard has just joined ID2020.


                        • Collapsing Birth Rates to Cause 'Jaw-Dropping' Reduction in Global Population, Study Finds
                          7/27 The US economy is flatlining – Upfina
                          MAYBE, there is a connection.
                          The problem with socialism is; everybody wants the State to support them. What happens when this becomes too expensive?
                          Obama's Top Economist Warns Of Catastrophic Risk To Economy If Stimulus Lapses
                          7/27 Mnuchin says $1 trillion GOP coronavirus relief plan ready – CNBC
                          7/27 Kudlow says next round will include $1,200 stimulus checks – CNBC
                          7/26 Fed stimulus has created the “cobra effect” – Real Investment Advice
                          7/27 Republicans propose a means test instead of $600 weekly benefits – The Street
                          7/25 As U.S. debt rises, Biden’s spending proposals near $10 trillion – JTN

                          "In an era when machines may leave millions of people without jobs, Russia is reportedly exploring the possibility of collecting taxes from robots, making the payments equal to income taxes paid by human employees.
                          Russian companies may have to pay 13-percent tax for using robots instead of people,"

                          7/26 China is preparing for war – Ahead of the Herd
                          Yeah, maybe. The floods have wiped out their food supply.


                          • Americans have much of their wealth invested in the stock market. The Chinese have most of their wealth invested in residential real estate. Due to the one-child policy, there is a shortage of about 32 million women. You can't get a wife unless you own a home. The Chinese have gone crazy for buying houses. There are about 50 million empty apartments. The "owners" do NOT own the land. The GOV does. The apartments are built with the crabby quality that the world has come to expect in Chinese construction. They have toxic drywall and, toxic paint. All this money is invested in empty buildings that will be eventually torn down.
                            Zero hedge, "More than three years ago, we explained why "the fate of the world economy is in the hands of China's housing bubble."
                            "Furthermore, unlike the US, which is hyperfinancialized and the bulk of household net worth is in financial assets (less than 30% is in real estate), in China it is the opposite, and roughly three-quarters of all household worth is in real estate."
                            "unless China's housing bubble is growing at a steady, measured pace created a "wealth effect" illusion among several hundred million middle-class Chinese, we concluded three years ago that the global economy is just as reliant on China's housing market as it is on the global - and certainly US - stock market."

                            ""the total value of Chinese homes and developers’ inventory hit $52 trillion in 2019, according to Goldman Sachs, twice the size of the U.S. residential market and outstripping even the entire U.S. bond market."
                            "Back in late 2018 we observed that for Beijing, a "nightmare scenario" was unfolding as more than 50 million apartments were vacant, about 21% of all homes in urban China.'
                            "Since then the number was only increased, and according to the WSJ which cites recent data from China Household Finance Survey, there are now 65 million empty units'
                            Globally, China accounted for around 57% of the $11.6 trillion increase in household borrowing over the decade through 2019, according to Bank for International Settlements data, or roughly half of all global debt created since 2005!The U.S. accounted for about 19%."

                            "Average home prices across China reached 9.3 times average income in 2018, according to the Chinese Academy of Social Sciences, compared with 8.4 in San Francisco.
                            In Tianjin, a city of 15 million southeast of Beijing, apartments in upscale areas sell for around $9,000 a square meter, or about $836 a square foot, according to real-estate services company Savills PLC. That is roughly the price an average buyer would pay in some of the most expensive parts of London, even though disposable incomes are seven times as high in London as in Tianjin."


                            OK, you get the idea. The Chinese government can NOT let off the gas when it comes to growing the RE bubble.
                            At the same time, the floods are wiping out huge areas.
                            Great Depression One was set off by the failure of an Austrian bank, Credit Anstalt.
                            Will Great Depression Two be set off by a collapse of the Chinese banking system?


                            • Just the headlines
                              7/30 Almost 50% of lost jobs “may be gone permanently” – Zero Hedge
                              7/30 U.S. second-quarter GDP plunged by a record 32.9% – CNBC
                              7/30 U.S. weekly jobless claims rise for second straight week, to 1.434 million – CNBC
                              7/30 “So far apart on covid deal that we don’t really care” – The Street
                              7/30 Fed’s “whatever it takes moment” is a big flop – The Street
                              7/30 U.S. renters owe $21.5 billion in back rent; Repubs offer no relief – Reuters
                              7/30 Over 62 million people had no pay last week – Mish

                              7/30 Lebanon becomes 1st country in Middle East to enter hyperinflation – Yahoo!
                              7/30 Lawmakers, united in their ire, lash out at Big Tech’s leaders – NY Times
                              7/30 Police withdraw from agreements to guard Democratic national convention – ET
                              7/30 Apple, Amazon, Facebook, Google face claims of ‘harmful’ power – BBC
                              7/28 Facebook to break up U.S. government before it becomes too powerful – Onion

                              7/30 Oregon agrees to help quell violence in Portland – Epoch Times
                              Oregon Governor declares that federal agents are leaving Portland, gets quickly corrected by DHS and President Trump
                              Portland fining feds $500 every 15 minutes for unpermitted fence in bike lane
                              Charles Hugh Smith has an excellent article about just how we got screwed.


                              Armstrong and the battle against hydroxychloroquine
                              "Youtube Has Removed the Video of the Front Line Doctors calling it FAKE news because it challenges not just the WHO, but Bill Gates, the entire Democratic position against Trump, and the media itself which refuses to allow any contrary view."

                              Armstrong's site has been heavily attacked by the usual suspects.
                              "We have set up what we call a Trojan Horse where they think they have gotten in while we can watch what they do and it pings back. We used that unique method before which traced ultimately right back to Langly, Va."
                              So, the CIA is still very much a tool of the zionists and lefties.

                              Armstrong, "I believe we are heading more into a major confrontation and these politicians who have been eager to oppress the people may wish they never joined this madness. This is the civil unrest Socrates has been projecting. These politicians and elitists who think they can simply reorganize the world economy in their vision will risk being dragged out of their offices and hanged."
                              "Fauci has come out and admitted he is encountering serious death threats. He responded: “I’ve seen a side of society that I guess is understandable but it’s a little bit disturbing.” Fauci is a typical arrogant elitist. He thinks he can destroy the economy, wipe out tens of millions of jobs, pensions, savings, and people’s futures and they will not respond? Fauci will clearly be on a shortlist for retaliation if society is pushed to the brink with more lockdowns."
                              • The U.S. economy suffered its worst period ever in the second quarter, with GDP falling a historic 32.9%.
                              • Economists surveyed by Dow Jones were looking for a decline of 34.7%.
                              So, even with $1 trillion a month liquidity injection, that wasn' enough to stop the contraction.


                              • Make no mistake, the State is your enemy. It is a predator and a parasite. It's sustenance comes from the producer,,,, by force if needed.
                                "through the highly controversial practice known as civil asset forfeiture. Last year, according to the Institute for Justice, the Treasury and Justice departments deposited more than $5 billion into their respective asset forfeiture funds. That same year, the FBI reports that burglary losses topped out at $3.5 billion."
                                "Homeland Security Seized $2 Billion in Cash From Travelers at U.S. Airports
                                In two-thirds of those cases, there were no accompanying arrests."
                                Yep, your money is charged with a crime.

                                The credit rating of the U.S. government has just been downgraded. It is already creating about $ 1 trillion a month in new liquidity. The economy has contracted 32.9% and, GOV is trying to make up the difference with new liquidity.
                                US Printed More Money in One Month...Than in Two Centuries
                                Here is an excellent article comparing 1984 to Brave New World to current conditions.
                                Congress has an 18% approval rating. Does that mean that we no longer live in a democracy>

                                The blob State is running on fumes. It will tear the whole system apart trying to survive,,,, at the expense of the private citizen (tax donkey)
                                Jim Rickards: anarchy from above – Daily Reckoning
                                The hunt for taxes.