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  • European Gas Hits A Record 100 Euros As Russian Gas Flows Collapse By 77%
    Both the cost in Asia and in Europe are about $190 a barrel of crude oil equivalent.
    The gas storage in Europe was NOT refilled in the summer. I'll leave it to your imagination to ponder why.

    "Panic Buying" - A Rush To Hoard
    This is a potential game-changer for energy markets...

    "Pandora Papers" Leak Claims To Expose Hidden Wealth Allegedly Belonging To Putin, Other Foreign Leaders
    The trove of documents elucidating the hidden assets of world leaders seems to cover almost every country but one - the US.

    "It's A Really Dangerous Situation" - Afghanistan Faces Imminent Blackouts As Power Bills Skyrocket
    Too bad the IEA won't be able to turn to its new allies in Beijing...they're somewhat preoccupied with a power crisis of their own right now...

    Kemp: Europe's Rising Energy Prices Will Force Factory Closures

    "Running Out Of Space" - UK Farmers To Cull 120,000 Pigs Amid Labor Shortages At Slaughterhouses
    "We are within a couple of weeks of having to consider a mass cull of animals..."

    German Power Plant Halted After It Runs Out Of Coal
    Germany holds 39,802 million tons (MMst) of proven coal reserves as of 2016

    Goldman's Stagflationary Horror Chart Book
    At this rate, by December core PCE should be about 5.5% and the US will have collapsed into the stagflationary abyss.

    France Begins "Price Protection" Measures To Shield Consumers From Soaring Energy Prices

    Dutch Greenhouses Go Dark As Energy Crisis Worsens; Food Inflation Fears Mount For Europe

    Cargo ships anchored near LA & NY Face A 4 Week Delay To Dock, Raising More Fears About Global Supply Chain Shortages


    10/03 Energy crisis highlights a growing need for EV battery minerals – AHOTH
    Afghanistan and & North Korea have lots of them.

    10/03 China sends 77 warplanes into Taiwan defense zone over two days – CNN
    When you country is collapsing,,, start a war for diversion.

    10/03 Inside the CIA’s secret Kabul base, burned out and abandoned in haste – Guardian
    That sudden pullout did not give the CIA enough time to cement control of the heroin trade.

    10/03 Coffee bean prices have doubled in the past year – Phil’s Stock World

    10/03 Will China’s ‘digital yuan’ reinvent money as we know it? – Spectator
    10/03 China is combating crypto with a push for the digital yuan – Quartz
    10/02 China bans all cryptos as they increase gold ownership – LZ
    I don't see how crypto can fly. It offers too much opportunity to criminals.
    10/03 Evergrande crisis drives China gold buying higher – Birch Gold

    10/02 Indian central bank accumulating much gold almost under the radar – GATA
    Starting in early 2018 and up to the end of August 2021, over that time the RBI has added a staggering 166 tonnes to its strategic gold reserves, and now holds a claimed 724.24 tonnes of gold"
    Indian households have stocked up to 25,000 tonnes of gold: World Gold Council.

    10/03 Europe’s power crisis is moving north as water shortage worsens – Yahoo

    10/03 Clif High: Red October will be the end of world as we knew it – USA Watchdog

    10/03 UK food banks ‘prepare for the worst’ – Daily Star
    10/03 Shortages and inflation are ripping the world’s face off – Great Recession
    10/03 “Panic buying” – a rush to hoard – Zero Hedge



    Comment


    • I needed to break it up.
      China is a communist country with a command economy. No such regime has ever survived. Any system that ignores market forces is eventually doomed.

      China’s Bogus Plan

      This actual crisis management plan is the worst possible playbook. Why?
      Equity holders should be wiped out. Foreign investors in dollar-denominated debt of Evergrande will be left to fend for themselves.
      Western analysts don’t understand this dynamic because they view events through the lens of Wall Street and Washington norms.
      But the Communist Party of China does not care if Chinese oligarchs or investors in BlackRock ETFs lose money. That suits them fine. They’re communists.

      The good news is that the China myth has now been revealed to be a fraud. The globalist dream for China has crashed and burned. Good riddance.
      This is another fiasco in the making because those investors will dump that unwanted real estate, which will collapse the property market in turn. Essentially, Chinese regulators are so desperate that they are trying to pay off creditors in kind with deeds to real estate that no one wants.

      The Chinese are only looking at what’s inside the four walls of Evergrande and ignoring the fact that their entire property and financial system is on the verge of a world-historic crack-up.
      But here’s the real problem: The damage will not be confined to Evergrande. It will spread quickly to counterparties of Evergrande, including other developers and banks.

      This unprecedented combination of a financial crisis and Communist indifference could result in full-blown contagion that could emerge as a crisis in the U.S. and Europe within a few months.
      I’ve predicted this all along, but in reality, it wasn’t that hard to predict. The Chinese economy is basically a debt-driven Ponzi scheme.
      Up to half of China’s investment is a complete waste. It does produce jobs and utilize inputs like cement, steel, copper and glass. But the finished product, whether a city, train station or sports arena, is often a white elephant that will remain unused. The Chinese landscape is littered with “ghost cities” that have resulted from China’s wasted investment and flawed development model.

      China’s economy is not just about providing jobs, goods and services. It is about regime survival for a Chinese Communist Party that faces an existential crisis if it fails to deliver.

      It is an illegitimate regime that will remain in power only so long as it provides jobs and a rising living standard for the Chinese people. The overriding imperative of the Chinese leadership is to avoid societal unrest.
      China is so heavily indebted that it is now at the point where more debt does not produce growth. Adding additional debt today slows the economy and calls into question China’s ability to service its existing debt.

      Essentially, China is on the horns of a dilemma with no good way out. China has driven growth for the past eight years with excessive credit, wasted infrastructure investment and Ponzi schemes.
      The two ways to get rid of debt are deflation (which results in write-offs, bankruptcies and unemployment) and inflation (which results in theft of purchasing power, similar to a tax increase).

      Both alternatives are unacceptable to the Communists because they lack the political legitimacy to endure either unemployment or inflation. Either policy would cause social unrest and unleash revolutionary potential.

      The question is will China move aggressively against Taiwan, for example, to distract the people and attempt to unite them?
      https://dailyreckoning.com/the-next-lehman-moment/

      Comment


      • "Imagine you are in command of the state, defined as an institution that possesses a territorial monopoly of ultimate decision making in every case of conflict, including conflicts involving the state and its agents itself, and, by implication, the right to tax, i.e., to unilaterally determine the price that your subjects must pay you to perform the task of ultimate decision making.

        To act under these constraints — or rather, lack of constraints — is what constitutes politics and political action"
        https://snbchf.com/2021/08/hoppe-why...control-money/

        The State is like any other powerful parasite. It has concern ONLY for itself. The welfare of It's tax donkeys come a distant second.
        It grabs at all money until there is a revolution.
        The "Argentine gambit"
        Armstrong, PRIVATE BLOG – $3.5 Trillion Budget to Seize Private Pensions

        10/04 Look at all the millionaires in Congress – Logan the Linguist

        10/04 Currency debasement and social collapse – SNBCHF

        Deficit deniers & 40-years of economic erosion – Real Investment Advice

        944 Trillion Reasons Why The Fed Is Quietly Bailing Out Hedge Funds

        Global banks defy U.S. crackdowns by serving oligarchs, criminals and terrorists

        The FinCEN Files show trillions in tainted dollars flow freely through major banks, swamping a broken enforcement system.
        https://www.icij.org/investigations/...nd-terrorists/

        10/04 US GDP Q3 tracker slumps to 2.3% despite massive stimulus – CI

        Comment


        • Pox Americana is hard at work trying to surround Russia with NATO bases. Russia has almost unlimited natural resources, especially hydrocarbons.
          Russia can't really do much to stop this. Instead, they are working on defence.
          Their S-500 missile will reach low-orbit satellites.
          They are building Earth-based defences too.
          https://tass.com/science/1345325

          Meanwhile, the City of London continues to be a center of money laundering.
          https://soundcloud.com/rttv/going-underground-041021

          The Great Reset is an overt switch to communism.
          Marxism has always gone bust. The capitalists pull their money out of the system.
          Armstrong, "Capital is fleeing because people no longer trust government debt or instruments that could be manipulated by governments."
          https://www.armstrongeconomics.com/a...tin-armstrong/
          Good article

          10/04 Doomsday clock for U.S. debt ticks, with no Congressional plan – Yahoo
          NOT true,, they have a plan

          Lock everybody down forever and, take their money.
          https://www.wakingtimes.com/establis...aking+Times%29

          10/04 Currency debasement and social collapse – SNBCHF
          So, how do we avoid this?

          Every time that Marxists take over, capital flees. The Marxists claim that Marxism WOULD work if nobody could exit the system.
          Everything would be great if ALL capital was available to them all the time.
          Forbes, The End Of Cash And Age Of Crypto Coming By 2030?

          Agenda2030 #WEC #IMF. WEF by 2030 You'll own nothing And you'll be happy
          The State (mega parasite) intends to grow without limits.
          The problem is; the holders of capital withhold it when the State gets too greedy.
          The answer is of course; take their capital.
          Central Bank digital currencies seem to be the obvious path forward.
          You will own exactly what the Marxists say that you own.

          Comment


          • Trumps coming in Mar coming in April Coming in the August full moon Oops now coming in Oct 24 but says he will never run for pres...........You smell that unclean stench? It's the lies that are so rotten, just keep everyone waiting and keep lying to the USA has been gutted. Are you that slow? Gesara nesara was promised since 2007 folks, find your sense of reason. It's not coming, Trump is nothing more than a puppet like all Presidents are. Do good people get sucked in? Yup. Hello fools I liked the fool for awhile too.

            Global reset money + free health care coming and not in 15 years like Gesara


            Last edited by BroMikey; 10-06-2021, 08:24 AM.

            Comment


            • 10/06 Hyperinflation could send oil prices above $180 – Oil Price
              10/05 Hedge funds flock to oil as energy shortages worsen – Reuters
              Energy is the master resource. As the price of energy goes up, everything else tends to freeze up.
              Rabobank: The Surge In Commodity Prices Is Not Led By Bullishness, But By Panic

              "They" engineered the plandemic to crash the economy and, usher in a new Marxist system
              Opinion: Coronavirus has ushered in an economic ice age. When can we expect activity to heat up again?
              In the end, it took a microscopic protein molecule to knock out a $22 trillion U.S. economy and abruptly end the longest expansion in American history.

              1. The world is caught in a debt trap.
              Interest rates are sitting at zero, making credit cheaper. Cheaper credit spurs ballooning debt, even while investors around the world are desperate to find yield, thus keeping yields and interest rates low. But more debt, especially when it is taken out to fund consumption rather than productive investment, cripples the economy's ability to expand.

              I've written about this on many occasions in the past. (See, for instance, "The Monetary Death Spiral.")
              A Global Economic Ice Age Is Coming

              Futures Tumble As Nat Gas Prices Explode, Stagflation Fears Surge
              EU Politicians Panic As Natgas Prices Explode 40% Overnight

              Dominos Fall As Germany’s Largest Ammonia Producer Slashes Output Amid Energy Crisis
              "The level that has now been reached no longer enables economically sensible production..."
              So, no more fertilizer.

              Europe's Energy Crisis Presents A Real Danger
              Europe needs a balanced and non-ideological energy mix and a competitive energy transition where it is essential to have nuclear and natural gas as back-up where technology and competition drive competitiveness...
              Just wait til the weather turns freezing







              Comment



              • Why Shortages Are Permanent: Global Supply Shortages Make Fantastic Financial Sense
                The era of abundance was only a short-lived artifact of the initial boost phase of globalization and financialization...

                Ag equipment, parts shortage could impact food supply, farmer says

                Kellogg's To 'Mitigate Supply Disruptions' After Strikes Hit Cereal Plants

                US Desperate For Coal Miners To Meet Soaring Global Demand

                The Electricity Crisis Was Not Caused By A "Perfect Storm"
                While plenty of observers are willing to blame this on a ‘perfect storm’ of events, the truth is electricity providers were simply not prepared when they should have been...

                10/07 Inflation alert: expect prices to climb 25% says Wharton’s Siegel – Forbes

                10/07 House prices in Langley pass $1.4 million – Langley Advance Times
                The drug runners at the CIA have plenty of money

                10/07 DOJ announces launch of national crypto enforcement team – Zero Hedge
                Don't worry, your BTC is safe.



                Comment



                • reportThe "New Energy Economy": An Exercise in Magical Thinking
                  "So far, wind, solar, and batteries—the favored alternatives to hydrocarbons—provide about 2% of the world’s energy and 3% of America’s."
                  The WEF and, the Marxists and Greens think that they can force a conversion out of carbon energy.
                  The U.S. Energy Information Administration (EIA) reports that while 15 gigawatts of coal-fired plants were shut down in Obama’s first four years
                  China is in dire need of more coal, and it's willing to pay 'any price' to secure more of the world's dirtiest fossil fuel which drives up the price for the whole world.

                  10/07 Americans are paying the most for gas in seven years – CNBC
                  Keystone XL was halted by owner TC Energy after U.S. President Joe Biden this year revoked a key permit needed for a U.S. stretch of the pipeline.

                  ESG Shock Arrives: Oil Market Needs Half A Trillion Dollar Injection To Avoid Supply Collapse, Price Surge
                  The current Marxist administration has a scheme called ESG. It penalizes energy companies for not being green enough.

                  "ESG will trigger energy hyperinflation" we observed that the growing pressure from virtue-signaling investor groups on oil companies to reduce oil and gas exploration and adapt their business models to some ridiculously unprofitable "green" ideal has increased significantly in the past year. This, as DB showed, was reflected most clearly in crude rig counts that had lagged the recovery in oil prices and stand at 1/3rd of the 2014 peak.
                  ESG was designed to cripple the energy sector. This will then justify the usurpation of the most fundamental market in a modern economy with centrally planned brilliance.

                  Higher energy prices ahead, shortages, blackouts, gas prices going to the moon....count on it
                  In order to justify more Rigs and Drilling OIL will need to have a sustained price >$100. Debasement of the $US alone justifies $100 OIL without the supply shortage. Will probably go parabolic to >$150 with a subsequent rapidly declining economy and Depression.

                  Energy Crisis May Unleash Winter Blackouts Across US, Insider Warns
                  "That whole supply chain is stretched beyond its limits."

                  Why Trillion Dollar Coin is Reflection of Bigger Problem Haunting US Economy






                  Comment


                  • The god with no brain, nor heart, nor conscience.
                    The unworkable system


                    Socialism is incompatible with human nature. The corporatocracy seems unconcerned with mass starvation. China and Germany did VERY well with globalism,,,, until their customers were impoverished and quit buying. The same is true of the corporatocracy. They have starved us down to where we no longer have children. NOW, they can only survive with State-created liquidity keeping them afloat. 12% of companies worldwide are zombies. To the corporatocracy, it probably sounded like a great idea to wipe out living wages. OBVIOUSLY, they didn't consider the long-range effects OR, they are trying to promote mass depopulation.

                    The State is facing horrendous pension liabilities. The CB doesn't want to get stuck monetizing bonds for bazillions of dollars for pensions. The unfunded public pensions in America reportedly total $213 trillion. (Kotlikoff)

                    "Preliminary data for 2018 show that assets in pension funds amounted to USD 27.6 trillion in the OECD area, close to 4% lower than in 2017, according to OECD's Pension Funds in Figures. Calculated in national currencies, pension fund assets declined in 12 out of 34 reporting OECD countries, including some of the largest pension markets: Japan (-1.1%), the Netherlands (-1.2%), Switzerland (-0.7%), the United Kingdom (-0.3%) and the United States (-5.0%)."
                    Global pension statistics - OECD
                    Keep in mind that private pensions are NOT in good shape either.
                    S&P 500's Biggest Pension Plans Face $382 Billion Funding Gap

                    Here is an excellent article on the pension fund apocalypse.
                    https://www.zerohedge.com/news/2019-...und-apocalypse

                    "Hudson says that - in every country and throughout history - debt always grows exponentially, while the economy always grows as an S-curve."
                    https://georgewashington2.blogspot.c...nentially.html
                    In the waning days of the empire, debt is increasingly used to sustain everything.

                    Armstrong, "According to a new report by the Fraser Research Institute, taxes consume 44% of the average Canadian’s income. In contrast, basic necessities only compose 36.3% of consumption. “Taxes have grown much more rapidly than any other single expenditure "

                    Democracy is socialism-lite. Both systems eventually crash the bank. Socialism is a system whereby the non-producers have a very big influence in the maternity wards. They pump out ever-more non-producers. The actual producers are tasked with supporting the non-producers.
                    "What is fascinating about this is that Parkinson's Law, albeit having been variously formulated since its first statement in 1955, predicts that the staff within a bureaucracy will expand at a rate between 5 and 7 percent per year, “irrespective of any variation in the amount of work (if any) to be done.” Isn't it interesting that government debt falls precisely within this range? "
                    https://www.fourmilab.ch/fourmilog/a...08/001328.html

                    Globalization, corporatocracy and, the resulting downfall of everything

                    As many people have noted, globalization has not worked out well for most States. It worked very well for Germany and China UNTIL their competitive advantage impoverished their customers. There is a huge imbalance because capital can do an instant flow but, labor can NOT. Here is an excellent article that lays it all out. A corporation is a pile of money looking to grow larger. It is immortal and immune to prosecution. It has no brain, nor heart, not soul. It devours everything it can reach. It has NO PERCEPTION that it is destroying it's customer base. It now has personhood thanks to regulatory capture. This same regulatory capture has allowed it to acquire monopolistic powers that further reduce the purchasing power of it's customer base. It uses these same powers to force the State to subsidize it when it's customers can no longer support it's business model.

                    "However, one thing stands out: globalization has profoundly changed the structure of social and political power within each country by strengthening corporate power and their leaders’ influence, and by decreasing the power of workers in general and of labor organizations in particular. There are indications that it has hurt the functioning of democracy in several countries.

                    One general conclusion in terms of economic policy: in the context of economic globalization, it would appear essential that national governments retain control over their financial and banking sectors, as well as over their monetary policies, if they want to avoid, in times of crisis, that their economies behave like a ship without a captain, without direction on a rough sea.

                    More generally speaking, because of so many hazards, I am afraid that the all-out economic globalization that is currently being imposed on nations and people alike risks imploding, sooner or later. This is a model that has too many economic and political pitfalls to persist without profound reforms. That is because it de facto transfers the real power in our societies from legitimate elected officials to officers of large corporations and of mega banks, and to owners of capital in general who, in turn, can use it to corrupt the political system to their advantage. —There exists a basic economic and democratic deficit to economic globalization that will not be easily corrected."
                    Read the whole article.
                    https://www.globalresearch.ca/pitfal...zation/5458460

                    Once enough suffering had been dealt to the populace, globalists and extreme leftists would arrive on the scene to offer anti-populism as a solution; meaning the centralization and socialization of everything on a scale never before witnessed except perhaps in the darkest days of the Bolshevik Revolution."

                    Socialism is incompatible with human nature. The corporatocracy seems unconcerned with mass starvation. China and Germany did VERY well with globalism,,,, until their customers were impoverished and quit buying. The same is true of the corporatocracy. They have starved us down to where we no longer have children. NOW, they can only survive with State-created liquidity keeping them afloat. 12% of companies worldwide are zombies. To the corporatocracy, it probably sounded like a great idea to wipe out living wages. OBVIOUSLY, they didn't consider the long-range effects OR, they are trying to promote mass depopulation.

                    "Today, people think about capital in a one-dimensional way: Whether it’s the savings of private individuals, the capital reserves held by pension funds, the start-up capital of entrepreneurs, or the capital gains taxes on investments, all of these are thought of as money.

                    Yet capital is distinct from money. It is a definite structure, composed of different elements like physical goods, knowledge, and context, as well as peoples’ talents and experience. Money is only the simplifying accounting gimmick that helps us quantify the incredibly complex capital structure in a uniform manner. It serves as a basis for assessing the value of different forms of capital."
                    Banking is an extractive, parasitic industry. They neither produce not hold much capital. They hold money (that they get for free) and parley it into capital and support.

                    "Furthermore, Austrians have correctly recognized that capital does not automatically grow or perpetuate itself. Capital must be actively created and maintained through production, saving, and sensible investment."
                    "One also has to differentiate between two types of goods in the production process: consumer goods and capital goods. We consume these goods"
                    "Capital goods differ from consumer goods in that they are way-stations toward the production of consumer goods that can be used to achieve immediate ends. Capital goods, therefore, are means to achieve ends indirectly. "
                    https://www.theepochtimes.com/we-liv...3_2366623.html

                    The side effect of the corporatocracy controlling the State is; the corporatocracy has no use for non-performing assets. They must be liquidated or discarded. BUT, a corporation is both blind and stupid. It MUST grow but it continually diminishes the purchasing power of it's customers.
                    https://sputniknews.com/us/201712031...estigation-us/
                    The corporatocracy isn't focused on a major problem even though it is of primary importance; https://www.yahoo.com/news/m/9e5eee8...te-is-way.html
                    It will continue to squeeze out more profits and blindly wonder why most of the world is slip-sliding away.

                    The corporation is immortal and, unassailable but, it has neither brain, not heart, nor conscience.
                    If selling Oxycontin to kids is profitable,,, do it.
                    If poisoning the land and water is profitable,, do it.
                    If stealing all the pension money to finance wars is profitable,,, do it
                    If killing millions and stealing natural resources is profitable,,, do it
                    If creating plagues-for-profit is profitable,,, do it

                    Since the State is now run like a corporation, the State has adopted the business practices of a corporation.
                    Strangle the people with taxes to send $ billions to the already rich,
                    Send the young off to wars to keep the financiers from losing money.
                    Use GOV agencies to facilitate the drug empires.
                    Erase constitutional rights whenever they are inconvenient.

                    The State(s) have embarked on a new cost-cutting enterprise.
                    "State and local workers face retirement systems that may be short of funds by as much as $4 trillion.
                    nation’s 5,300 public pension funds, which hold $4.4 trillion in assets against what the Federal Reserve estimates to be $9 trillion in liabilities. "

                    This is true worldwide. Nations all over the globe have promised pension payments that they can't afford.
                    15 years ago, Proff Kotlicoff reported that unfunded debt in America was $213 trillion.
                    https://files.stlouisfed.org/files/h.../07/Thakor.pdf

                    For their part, China will soon have over 300 million old people who will be looking for State support. They only had one child. That child can not support his family + his parents.
                    EVIDENTLY, the solution worked out by many States is simple. Kill off anybody & everybody who might possibly harm the fiscal balance of the nation.

                    Back in 1981, The PTB decided that a virus could best bring about the death of any individual that might petition the State for support. The virus need kill off every weakened or elderly person.
                    REPORTEDLY, the development of the virus started in Chapel Hill, SC.
                    REPORTEDLY, the development work was funded by several State agencies in several Nations.

                    ALL the pension systems are insolvent and, crashing.
                    The State is flat broke which will bring a crash of sovereign debt.
                    Martin Armstrong Warns on Pension Crisis, Confiscation of 401k Plans

                    The State is going to try to survive at the expense of the individual. If the state can kill off millions of non-producers, that will go a long way to rescuing the fiscal health of GOV.
                    This makes perfect fiscal sense from a corporate point of view.

                    Comment


                    • Schwab made it very clear; in 10 years, you will own nothing.

                      CBDCs will become the rails of all manner of economic programs (like UBI and MMT) and social policy objectives which are neither possible, nor desirable under cryptos:
                      Expiry dates on “cash” in your wallet
                      Negative interest rates if you try to save any of it
                      Social credit objectives (no jab / no stimmie)
                      Instant taxation on transactions and payments
                      Social justice pricing (cup of coffee costs 10X if you’re in a higher tax bracket)
                      Built-in climate tariffs
                      Capital controls
                      Infinitely inflatable, issue on demand In other words, CBDCs will go one better than fiat currency and be intentionally designed to preclude wealth formation and economic freedom. Meanwhile cryptos, owing to their sound money characteristics, will do the opposite. However the Fed has not yet released anything about when they’ll actually do anything, or what it will look like when they do, TCC #7 Bombthrower MediaSeptember 2021

                      "Catastrophic" Property Sales Mean China's Worst Case Scenario Is Now In Play
                      No ponzi scheme can continue if the participants lose faith in a favorable outcome, and at $62 trillion, China's housing sector is the world's biggest ponzi scheme.

                      One Ring To Rule Us All: A Global Digital Fiat Currency
                      It’s bad enough that various countries are exploring ways to move toward cashlessness, but there’s an even worse scenario - a global digital currency...

                      Is The Small Business Sector Being Deliberately Targeted For Destruction?
                      Absolutely. The big-box stores want it that way.

                      Government Spending Cannot "Stimulate" The Economy
                      They print money to save everybody. The resulting price inflation makes all stocks & bonds money losers.

                      The US Is Officially A Banana Republic: The Top 1% Now Own More Wealth Than The Entire Middle Class
                      "I don't think there's been any greater engine of inequality than the Federal Reserve Bank of the United States the last 11 years." - Stan Druckenmiller
                      You can thank Greenspan for kicking this off.

                      QUESTION: Mr. Armstrong I live in Israel and today I listened to your podcast with Macrovoices. At some point you mentioned that there is more oil in Golan heights than in Saudi Arabia
                      https://www.armstrongeconomics.com/i...-saudi-arabia/

                      US 'Committed' To Open-Ended Occupation Of Syria As Countries Begin Normalization With Assad

                      Russia Pledges Military Defense Of Tajikistan In Case Of Incursion From Afghanistan
                      Now that the Taliban are VERY well armed. What a coincidence! America left weapons for the Taliban to use against Russia.

                      Financial Times Says Europeans Should "Prepare For Demographic Replenishment By Arabs And Asians"
                      ...climate change to force billions to relocate.
                      The Kalergi Plan to Destroy European Peoples by means of unlimited immigration from primitive societies.

                      10/09 “Catastrophic” property sales: China’s worst case scenario has arrived – ZH
                      10/08 Evergrande creditors fear imminent default – Reuters
                      10/08 Evergrande contagion may trigger wave of defaults for developers – Yahoo
                      Evergrande is not paying foreign creditors. Consequently, money is fleeing China.










                      Comment


                      • Comment



                        • The hunter-gatherer was the original capitalist. He produced what he needed.
                          Later came shamans and warlords. They didn't produce but relied on fear to extract what they needed.
                          They were followed by priests & kings.
                          Over time, the non-producing classes continued to grow. Those in power made sure that they stayed in power. Clergy, nobility and everyone else.

                          With an old and inefficient taxation system which saw large portions of the wealthiest parts of French society exempt from major taxes, the burden was carried by the poorest and simply didn’t provide enough cash.

                          The clergy & nobility are always going to advocate a system that supports them without any demands for any actual productive work. Those who actually produce are very happy with a system that does not steal the fruits of their labor.

                          That system is called free market capitalism. Free market capitalism supports honest producers and traders. The nobility and clergy are forced to use edicts & force to receive their daily bread.
                          Chairman Mao said that "all State power comes from the barrel of a gun."

                          Society continued to produce an ever-growing number of non-producers who wanted support.
                          The court at Versailles, just outside Paris, had between 3,000 and 10,000 courtiers living there at any one time The nobility is always looking for more money. Since the State control governance of the economy, the State was in a position to sell "legal" monopolies.
                          Thus was born "crony capitalism".

                          Douglas MacArthur, "History fails to record a single precedent in which nations subject to moral decay have not passed into political and economic decline. There has been either a spiritual awakening to overcome the moral lapse, or a progressive deterioration leading to ultimate national disaster."

                          Lord Acton, "Power corrupts and absolute power corrupts absolutely"

                          The more centralization of power we get, the more corruption we get.
                          Bill and Hillary Clinton are the shining role models for today's politicians.
                          No murder is too vile. No deed is too abhorrent. No tally of deaths is too high.





                          Twenty years ago, a newspaper headline asked the question: “What’s the difference between a politician and a psychopath?” The answer, then and now, remains the same: None.
                          Politicians are more likely than people in the general population to be sociopaths
                          That a small minority of human beings literally have no conscience was and is a bitter pill for our society to swallow

                          Psychopaths and politicians both have a tendency to be selfish, callous, remorseless users of others, irresponsible, pathological liars, glib, con artists, lacking in remorse, and shallow. Charismatic politicians, like criminal psychopaths, exhibit a failure to accept responsibility for their actions, have a high sense of self-worth, are chronically unstable,

                          "Following the collapse of socialist systems around the world at the end of the 1980s, the superiority of the market economy was clear to many. “Anti-capitalism is the most widespread and widely practiced spiritual commitment among intellectuals,” concluded American historian Alan S. Kahan. The sociologist Thomas Cushman stated: “Anti-capitalism has become, in some ways, the central pillar of the secular religion of intellectuals, the habitus of modern critical intellectuals as a status group.”
                          Many intellectuals fail to understand the nature of capitalism as an economic order that emerges and grows spontaneously. Unlike socialism, capitalism isn’t a school of thought imposed on reality: free-market capitalism largely evolves spontaneously.
                          Socialism shares some of the characteristics of a planned language in that it is a system devised by intellectuals.


                          It’s hardly surprising that Marxism was considered such an attractive proposition by 20th-century intellectuals and continues to fascinate so many, as demonstrated by the Marxist revival that coincided with the 200th birthday of Karl Marx. It was a theory developed by intellectuals, packaged into complicated systems, that then had to be communicated to the “masses” (first and foremost the workers) by way of constant revolutionary agitation and propaganda. Once the elite of those who were able to understand the theory had seized power, it would become their job to implement it in the real world by destroying existing, organically grown orders – including the market economy as well as latent traditions and social norms – and installing a ‘scientific’ and ‘rational’ system in their place.

                          Once we’ve grasped this essential difference between capitalism, as a spontaneously evolving order, and socialism, as a theoretical construct, the reasons why many intellectuals have a greater affinity for socialism – in whatever form – suddenly become obvious. After all, devising mental superstructures and using their linguistic skills to shape and communicate them, both in writing and in rousing speeches, is what intellectuals do for a living. Since their own livelihood depends on their ability to think and communicate ideas that are rational and coherent, they feel more in tune with an artificially planned and constructed economic order than to one that allows for unplanned, spontaneous development.





                          In order to understand why so many intellectuals hold anti-capitalist views, it is important to realize that they are an elite, or at any rate a community of practice that defines itself as such. Their anti-capitalism is nurtured by their resentment of and opposition to the business elite. In this sense, the rivalry between the two groups is simply that – a competition between different elites vying for status in contemporary society.

                          The intellectual nobility is demanding status & remuneration that free market capitalism does not afford them. Being non-producers, for the most part, they find socialism attractive.

                          "If a higher level of education doesn’t automatically guarantee higher incomes and more privileged positions, then the markets that allow this imbalance to happen are seen as unfair from the intellectuals’ perspective."

                          It is hardly surprising that the world seems upside down to such intellectuals. After all, they derive their own sense of superiority from being better educated, more knowledgeable and better able to express themselves."
                          “Why Do Intellectuals Oppose Capitalism?” His explanation is based on the assumption that intellectuals feel superior to other members of society. "
                          Leading intellectuals, including Feuchtwanger, Brecht, Barbusse, Sartre and Chomsky, among countless others, engage in a consistent denial of, firstly, the atrocities perpetrated in the name of communism, which in the course of the 20th century claimed an estimated 100 million casualties, as well as, secondly, of the civilizing achievements of capitalism, a system that has done more to eliminate poverty than any other economic order in human history.

                          Capitalism and human rights abuses go together like yin and yang
                          https://newint.org/blog/2015/03/10/capitalism-abuse

                          Here we see the sins of crony capitalism blamed on free market capitalism. The inherent corruption of the self-serving non-producers is doing a LOT of damage around the world. These non-producers are sociopaths who have no the smallest shred of morality. They want something,,, and always MORE of it.
                          The sins of immoral sociopaths are blamed on capitalism.

                          The Anti-Human Flaw in the Central Core of Capitalism


                          "The capitalist market has produced some good fruit for some human beings and much bad fruit for the much of the world’s population across history. There is a deeper problem than this fruit. It is the way at its center it is based on a principle that hides human responsibility in the functioning of economics. We can say it has no heart, because it has no values other than the value of the commodity."

                          The claim of "no heart and no values" can be laid right at the doorstep of the STATE and the CORPORATION. Neither the State, nor the corporation can afford to have any morality because it would limit their endless quest for power & growth.

                          https://www.columbusdsa.org/2019/06/...of-capitalism/
                          We shouldn’t blame Silicon Valley for technology’s problems—we should blame capitalism

                          "This operating system is called capitalism, and it drives the antihuman agenda in our society at least as much as any technology.
                          Commerce is not the problem. People and businesses can transact in ways that make everyone more prosperous. If anything, capitalism as it’s currently being executed is the enemy of commerce, extracting value from marketplaces and delivering it to remote shareholders."
                          "If central currency can be thought of as the operating system of our economy, corporations are the software that runs on top of it. They are the true natives of capitalism"
                          The corporation is the 8astard child of capitalism where the various nobilities have warped the system to serve themselves.
                          "corporations have been winning court cases that give them the rights of human beings—from personhood and property to free speech and religious convictions"

                          "But corporations are not people. They are abstract, and can scale up infinitely to meet the demands of the debt-based economy. People can only work so hard or consume so much before we reach our limits. We are still part of the organic world, and subject to the laws of nature. Corporations know no such bounds"

                          Adam Smith, was well aware of the abstract nature of corporations—particularly large ones—and stressed that regulations would be necessary to keep them from destroying the marketplace. He argued that there are three factors of production, which must all be recognized as equally important:
                          • the land, on which we grow the crops or extract the resources;
                          • the labor, who till the soil or manufacture the goods;
                          • and, finally, the capital—either the money invested or the tools and machines purchased.

                          But unlike land and humans, which are fixed, capital can keep growing. It has to, because a growth-based economy always requires more money.

                          We shouldn’t blame Silicon Valley for technology’s problems—we should blame capitalism















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                          • Snowden: Your Money AND Your Life
                            Central Banks Digital Currencies will ransom our future

                            The 'War On Cash' Endgame Is Here
                            A programmable digital currency would have, coded into it, the ability to control our entire society. And it looks like that’s where The New Normal is heading next...

                            One Ring To Rule Us All: A Global Digital Fiat Currency
                            It’s bad enough that various countries are exploring ways to move toward cashlessness, but there’s an even worse scenario - a global digital currency...

                            US Heating Oil Supplies Lowest In Decades Ahead Of Winter
                            "First Big Winter Storm" Of Season To Bring "Feet Of Snow" To Western US

                            Global debt will be nearly three times bigger than global GDP by year-end but there is no reason to panic – S&P

                            Ex-Bodyguard Claims He Has Evidence Former President Ghani Fled Afghanistan With 'Big Bags' of Money

                            10/11 The dollar is doomed, reset begins, few are ready (video) – Marc Faber

                            Comment


                            • “It’s a disastrous day” – all hell breaks loose in China’s bond markets – Zero Hedge

                              10/11 Global debt will be nearly three times bigger than GDP by year-end – RT
                              History shows that the limit is 80%, NOT 300%

                              10/10 Countdown to bitcoin’s end – quantum computers closer than you think – TTR

                              Stoddard: If Polls Are Right, Dems Are Doomed; If They're Wrong, It's Worse
                              ...while Democrats are bracing themselves for a wipeout at the ballot box next year, they may not know the true extent of their loss of support among voters.

                              America's Funding Challenges Ahead
                              The Fed will be faced with a bad choice: protect financial asset values and not the dollar or protect the dollar irrespective of the consequences for financial asset values...
                              The choice was made years ago. Protect the banks and, kill the dollar

                              Our Economy Is Starting To Break Down On A Very Basic Level

                              End Banking As We Know It?
                              ...an unfortunate side effect of politicians and regulators embracing politically driven policy making, and the never-ending search for interventionist panaceas...
                              There is a big movement for the FED to squeeze out the entire private banking system.


                              China On Verge Of Stagflationary Shock With 30% Wholesale Inflation On Deck
                              Beijing is now trapped: if it eases, inflation - already at nosebleed levels - will soar further crushing margins and sparking a deep stagflationary recession; if it does not ease, the property market - already imploding - will crater.
                              The Chinese gambled too, much. They are too optimistic. There is just too much corruption

                              Biden Again Begs OPEC+ To Ramp-Up Oil Production
                              White House officials say "they are using every tool to address anti-competitive practices in US and global energy markets..."
                              Every tool except Keystone








                              Comment


                              • 10/13 Fed’s Bullard says bond purchases should be tapered quickly – CNBC
                                10/13 What a taper tantrum looks like and how they start – Mish
                                10/12 BofA warns the Fed won’t rush to stock market’s rescue this time – Yahoo
                                10/12 IMF warns on inflation, says the Fed should prepare to tighten – CNBC
                                Market Sees 90% Chance Of Rate-Hike By Sept 2022, Long-Bond Screams 'Policy Error'
                                "Don't Buy The Dip": BofA Explains Why The Fed Has Lowered Its Put Strike

                                The takeaway from all this is; The FED is going to try to cut back on asset purchases.
                                The current deluge of wet-ink money is the only thing keeping markets afloat.
                                The markets scream "policy error".
                                Previous attempts to scale back asset purchases have always brought on some kind of heart attack in the markets.
                                The FED sees that price inflation is really screwing things up.
                                Will they / can they cut back?

                                Greenspan said that the FED is not independent. Will the Dems fail to influence the FED?
                                Will the FED cut back on the Dems watch?
                                The Dems have a pure socialist platform. They are pushing for the FED to replace ALL private banks.
                                This would be a perfect opportunity for the private banks to fire a broadside against the Dems.

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