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  • Danny B
    Armstrong,,, C.H. Smith

    You will notice that I cite Martin Armstrong very heavily. His program, Socrates creates 500 reports on markets every day. It monitors RSS feeds and, just about everything else. While I understand that the person writing the software can have a great deal of effect on the final conclusions, his accuracy record indicates that the program is a realistic interpretation of the real-world.
    There is also a feedback loop. The more that he proves his accuracy, the more that institutional money is going to follow his suggestions.

    "The monetary system will change. That is beyond question. It is also beyond question that the dollar will rise and the rest of the world begins to crumble from its economic mismanagement of government. That dollar rise will break the back of the monetary system and the NUMBER one thing to survive will be tangible assets"
    " So will you have something left at the end of the day to leave your grandchildren? Yes, if you listen and understand the shifts underway and realize that there is a difference between assets and cash."

    "By exposing the problems and showing what the solutions are, just maybe when the money tree comes crashing down, we can all speak up and be heard to make sure what comes thereafter will be a reset in the proper direction compared to totalitarianism. EVERY Republic and Democracy has collapsed because of corruption"
    "This is WHY I have continued to do the WEC events. We have to stay on top of what is happening globally to survive the future. If there is an urgent change in anything discussed at these events I will send an email notifying attendees of what has taken place."

    "This may sound horrible, but it is also an OPPORTUNITY to shift investment money at the right time into commodities to survive. That is aside from the fact that you should be wise and stock up on some supplies and canned food in case that event unfolds. "

    "Just stay away from bonds right now. Interest rates can soar faster than anyone can imagine. We see Italian rates rise from 0.3% to 2.5% in a single day."
    Armstrong recommends that you get into tangibles.
    "Just one major volcanic eruption can send food prices sky-high. According to our computer, we show food prices rising from 2020 into 2024. The computer is calculating everything and correlating eveny type of data we have assembled. Its forecasts are based upon that intense correlation."
    So, everybody piles into food commodities and, nobody can afford food.

    "Here is the S&P500 expressed in various currencies (click on image). This simple illustration shows how the world really functions. You will note that the S&P 500 is consolidating in US$ terms, but it is starting to breakout and make all time new highs in various currencies like the Euro. This is what I mean that each and every person will act according to their own self-interest. "
    "The crypto advocates are actually cheering a one-world currency. They cannot understand that the Euro is failing because centralized planning fails. Their distributed ledger requires taking political power away from governments and installing a one-world economy where we all use the same cryptocurrency. They are blind to the simple reality that we do not have that much time left. We will still crash and burn BEFORE any reform can take place"

    "I promised I would not leave anyone behind. That does not mean I must convert these type of people who will never listen. Nevertheless, we do not do ANY advertising and prefer to keep the individual readership small. Our bread & butter is institutions. If it was up to me, I would retire"
    Armstrong did more than 7 years of hard time for contempt of court. Apparently, this has given him a sensitivity for the little guy.
    "We move to a totalitarian state where the government will take even more power, or we move toward the light of reform and freedom. I do what I do for my posterity. That is my self-interest."

    "Institutions, on the other hand, prefer I do no interviews with mainstream media and to shun advertising. Naturally, they do not want to see millions of followers. "
    "Less than 5% of the money is really physical. The bulk is already electronic entries. Things are changing and ONLY AFTER the crash and burn is there an opportunity for reform. But make no mistake about it, if we crash, but do not burn, then the government will gladly take them up on electronic currency so they can monitor and tax everyone on everything."

    " Yes, when I say we can see a monetary reset as soon as 2021, this is no joke. There are critical points in a number of markets that I will reveal in Singapore. These are the lines in the sand. Once we cross them, there is no going back. This is a global systemic collapse. I cannot emphasize how serious this is going to be."

    Smith writes about "buffers" for the economy. It is a very good article.

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  • Danny B
    Italy goes off a cliff

    Everyone remembers when various European States voted on various eurozone treaties. Some States had to vote over and over until they finally got it right. What started out as an iron and coal pact became a prison created by oligarchs to tie every person to a post to be whipped. As the whole construct crumbles, the technocrats are getting ever-more harsh and ever-more honest.

    "The EU was set up as some kind of eternal prison, a concept most familiar to us in the way Christian churches depict Hell, or the ancient Greek mythological story of Prometheus, who, as punishment for providing man with fire, was condemned by Zeus to being tied to a rock, with an eagle feeding on his liver every day, for eternity.

    Rule number 1 for any organization: there must always be an escape, a way out. If there isn’t, that’s what will break the whole thing in the end. "

    "Italy will soon have all the characteristics of an emerging market. Which is a market from which no one can emerge in an emergency, according to one Don Cowe. I read that the six largest Italian banks together have €143 billion in Italian debt securities on their balance sheet. Systemic banks in the rest of Europe, mainly France, Spain and Germany, have €137 billion of Italian debt on their balance sheet. God only knows how much Mario Draghi holds:"
    Here is the graph of Italian bond yields, https://3r8md7174doo44lgpk3kou79-wpe...ieldsMay29.jpg

    Italian Debt Crisis: Italian Central Bank Is the Only Net Buyer of Italian Debt - The Sounding Line
    You may not care about Italian debt but, the markets do care. other European banks have €137 billion of Italian debt on their balance sheet.
    Deutsche bank is close to imploding as it is. An implosion of Italian debt would trigger a few $ trillion in interest rate swaps. The contagion WILL eventually come here.

    "But dramatic developments in Italy over the past 48 hours entitle one to say that the trouble brewing in that country is likely to dwarf anything that has happened in Greece.

    This is a full-blown crisis in the Eurozone's third largest economy, nearly ten times the size of Greece's."

    Read more: STEPHEN GLOVER: The arrogant EU elite is playing with fire | Daily Mail Online

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  • Danny B
    Henry Makow

    On Oct 12, 1915, Edith Cavell, 50, a British nurse and head of a teaching hospital in Belgium, was shot by a German firing squad. Her death inflamed anti-German feeling in the US and caused enlistment in England to double.

    She had helped some British POW's escape. Normally her crime was punished by three months imprisonment. Why was she killed?

    According to Eustace Mullins, Edith Cavell had stumbled upon some damaging information. On April 15, 1915, The Nursing Mirror in London published her letter revealing that the Allied "Belgian Relief Commission" (charged with feeding Belgium) was in fact channelling thousands of tons of supplies to Germany.

    Sir William Wiseman, head of British Intelligence and a partner in the bankers Kuhn Loeb, demanded the Germans execute Cavell as a spy. Wiseman believed that "the continuance of the war was at stake." The Germans reluctantly agreed, thus creating "one of the principal martyrs of the First World War." (The Secrets of the Federal Reserve, pp. 72-73)

    Pretty cynical you say? No more cynical than demolishing the World Trade Center, murdering over 3000 Americans to start a "War on Terror."

    This example of cooperation between belligerents was accomplished because Wiseman worked closely with the head of the US Federal Reserve, Paul Warburg . Warburg's brother Max was Chief of German Intelligence and a close friend of Kaiser Wilhelm.

    The London-based central bankers use wars to weaken nations and colonize the world (incl. UK, US Israel etc.). The difficulty executing WWI was that they had already bankrupted the European states by selling them battleships and other armaments. Europe couldn't afford a war!

    The introduction of the US Federal Reserve and the Income Tax Act in 1913 solved this problem. US government loans financed World War One. The American people were on the hook for both sides of the conflict.

    This is how it works: The banksters created money from thin air based on the credit of the US government. Every dollar they "loaned" the US government was a new dollar in their pocket.

    No nation is free if it cannot control its own credit, i.e. print its own currency at will. We are not free. The central banking cartel controls us by threatening to withdraw our credit i.e. currency causing economic turmoil.


    Another obstacle to war was Germany and her allies did not have the resources to fight for more than a year.

    As Edith Cavell's discovery suggests, the banksters solved this problem by trading with "neutral" states: Switzerland, Belgium, Holland, Denmark, Norway and Sweden. Thus, the banksters allowed essential resources from England, the US and the British Empire to reach Germany indirectly.

    The whole thing is documented in a book entitled, "The Triumph of Unarmed Forces 1914-1918" (1923) by Rear Admiral M.W.W.P. Consett, who was British Naval Attache in Scandinavia. His job was to keep track of the movement of supplies ("unarmed forces") necessary for the continuation of the conflict.

    For example, Scandinavia was completely dependent on British coal. So the Swedish iron ore that became German submarines that sank Allied shipping reached Germany on vessels powered by British coal.

    Germany needed glycerin (animal fat) for the manufacture of explosives. England had no trouble securing this substance because it controlled the seas. After the war began, the demand for these products from neutral countries "exploded." The British continued to fill these orders. They could have restricted them.

    The same applies to copper, zinc, nickel, tin, and many other essential products. Consett believes that had they been embargoed, the war would have been over by 1915.

    The trade of tea, coffee and cocoa to neutral countries also increased dramatically but these products often weren't available there. They all went to Germany for huge profit.

    Consett's protests fell on deaf ears. The Minister of Blockade was Robert Cecil, a member of the Round Table (i.e. central banker) cabal.

    Similarly, the central bankers financed the German side through their Scandinavian banks to the tune of 45 million pound sterling. (p. 146.)

    The Allied nations became the banksters' debt slaves: "Despite the huge revenues raised from taxation, the British national debt rose tenfold. The government failed to use its bargaining power as the only really massive borrower in wartime to get money at low rates of interest. The French national debt rose from 28 billion to 151 billion francs ..." (Davies, The History of Money ) The US debt soared from one billion to $25 billion.

    According to "The Merchants of Death" World War I was waged by 27 nations; it mobilized 66,103,164 men of whom 37,494,186 became casualties (about 7 million dead.) Its direct costs are estimated at $208,000,000,000, its indirect costs at $151,000,000,000. And these figures do not include the additional billions in interest payments, veterans' care and pensions, and similar expenses..."

    Can there be any doubt that mankind is in the pernicious thrall of Satan-worshippers??


    As mysteriously as it began, the war ended. In Dec. 1918, the German Empire suddenly "collapsed." You can guess what happened. The banksters had achieved their aims and shut off the spigot. (Hence, the natural sense of betrayal felt in Germany, exacerbated by the onerous reparations dictated by the banksters at Versailles.)

    What were the banksters' aims? The Old Order was destroyed. Four empires (Russian, German, Austro-Hungarian and Ottoman) lay in ruins.

    The banksters had set up their Bolshevik go-fers in Russia. (They sponsor many "revolutionary" movements as a way to eventually control all property themselves.) They ensured that Palestine would become a "Jewish" state under their control. Israel would be a perennial source of new conflict.

    But more important, thanks to bloodbaths such as Verdun (800,000 dead), the optimistic spirit of Christian Western Civilization, Faith in Man and God, were dealt a mortal blow. The flower of the new generation was slaughtered. (See "The Testament of Youth" by Vera Brittain for a moving first-hand account.)

    After a grueling economic deflation and another World War, mankind was sufficiently demoralized to accept the banker-run "world government" dictatorship. Can anyone question that the bankster philosophy is satanic?

    The broad sweep of history reveals the pattern. The murder of the Austrian heir Arch Duke Ferdinand by the Masonic "Black Hand" group (which began WWI) was a staged event, an "excuse" i.e. the equivalent of Sept. 11, 2001.

    The banksters also supported the Nazis in World War Two as Charles Higham documents in his remarkable book, "Trading with the Enemy" (1983). For example, Rockefeller's Standard Oil supplied petroleum to the Nazis.


    Modern history is the account of how the central banking cartel converts its monopoly of credit into a monopoly of power. This entails destroying our connection with nation, religion (God), race and family. It means substituting objective truth (God, nature) with their Dictat (political correctness, etc.)

    It takes courage and clarity to understand we are mice in their lab experiment. We have been sold out by our "leaders", dumbed down by our media and education and spoiled stupid by the welfare state. (Everyone can be bought.) We can't even recognize what is happening, let alone act.

    For now, we have prosperity and think we are free. As Aldous Huxley said:

    "A really effi*cient totalitarian state would be one in which the all powerful executive of political bosses and their army of managers control a population of slaves WHO DO NOT HAVE TO BE COERCED, because they love their servitude. To make them love it is the task assigned, in present day totalitarian states, to ministries of propaganda, newspaper editors and schoolteachers." [Brave New World, Bantam Books, 1967, p. xii. Caps added.]

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  • Danny B
    Eurozone melting faster and faster

    "The ECB has been intervening BECAUSE as we have warned, there is NO BID. Interest rates for Italian debt have almost doubled in a matter of days."
    "The absolute ONLY way to SURVIVE is to maintain a GLOBAL PERSPECTIVE."
    "They could not find a SINGLE analyst in Europe willing to join me. Not that they disagreed, but for political reasons, they did not want to stand up and say the Eurozone dream was coming undone. No analysts at the top banks would dare come out and say what I have said and still hold a job. The ECM would have been on the phone and that analyst would be fired. "
    "My sources there have expressed it best that they see Italy has been invaded and it is now an occupied country under the Eurozone. "
    Private Blog – Capital Fleeing to US Treasuries & UK Gilts from Europe

    Well, you can see why Armstrong's model is focused on confidence. You can also see why Central Bankers want a universal crypto-coin. They could easily control all capital flows.
    5/29 Dow is set for a triple-digit drop at the open as Italian politics rattle investors – CNBC
    Brain-dead analysts who pay no attention to global capital flows,,,, NO attention to sovereign bankruptcy. No private capital is flowing into southern European sovereign debt. German Bunds,,, yes but, nowhere else. No capital is flowing into U.S. sovereign debt either. That is why we have seen the charade of the BLICS buying it or "other" buying it. So, while stock values have hit the stratosphere, big money knows that the eventual losses would be worse in public debt.

    The Eurocrats believed that they could negate all democracy and that; the people of Europe would have no recourse, no escape. What they seem to have ignored in their simple-minded rush for control of the People and State is; they couldn't control the flow of capital. So strange as it may seem, it will be the bankers and investors who bring down that god-awful bureaucratic nightmare known as the Eurozone.

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  • Danny B
    Italy,,,safe-haven,,,blob state,,, suicide

    The Eurozone was constructed so that unelected technocrats ran everything. They were not able to completely eradicate the voting process. The Italians voted for leaders to throw out the entrenched technocrats.
    5/27 Italy president under pressure to accept euro-skeptic PM – Reuters
    5/28 Constitutional crisis in Italy as president rejects eurosceptic minister – Mish
    5/29 Former IMF official becomes Italy’s interim prime minister – GATA

    5/29 Italy bond yields soar, protests called, euro referendum possible – Mish
    5/28 Italian stocks, bonds plunge on constitutional crisis – The Street
    5/29 Italy’s populists mobilize in protest as cabinet list drawn up – Bloomberg

    The Italians have been well reamed by the flood of immigrants. The Italians asked Brussels for financial help to deal with the flood created by EU policies,,, and American bombs. Brussels refused. The economy of Italy has shrunk substantially since the blob State of EU administrators descended on it.
    "Italy bond yields soar" Not for very long, they won't.
    5/28 Sudden chaos in Spanish politics – Spain Report
    5/28 Spain struggling with escalating migration crisis – Guardian
    5/28 First Greece, now Italy; is Portugal next? – ZH

    Yeah, Portugal is probably next.

    5/28 Corporate debt soars while credit ratings fall – Harry Dent Do tell.
    King Dollar’s safe-haven surge has only just begun – Khaleej Times
    The original model for the Eurozone was a disaster at inception. Possibly, this was done on purpose to bring on a crash. The crash would be allowed to fester until everybody was ready to accept the SDR. That is what the Western PTB planned all along,,, at least according to the cover on F.T. The SDR would be a 100% continuation of the Bretton Woods credit card. The R.O.W. isn't going to have anything to do with that idea. They will lock down exports until Pox Americana is kaput.

    So, the dollar is going up. The EMs can't afford debt service. PREVIOUSLY, Pox Americana would just send in the CIA and military to trash the government and pillage everything in sight. SCALE. The world has just gotten too big and powerful for Pox Americana to give it a good thrashing. We (the neocons) have managed to unite the whole world against us. There is really nothing to keep the emerging markets from defaulting.

    When Italy really goes off a cliff, that will push the dollar that much higher.
    "Consider that the financial recoveries in the United States, Europe, the United Kingdom, and Japan (the economies that the 2008 subprime crisis damaged the most directly) would not have been possible without quantitative easing (QE) policies."
    RIGHT, recovery. m_content={6}

    Here is a rundown of our debt,
    Why America Is Heading Straight Toward The Worst Debt Crisis In History

    Many years ago, the California legislature moved the highway and gas tax funds to the general fund. Every few years, the State creates a new tax to repair the roads. They collect more tax but, don't actually spend it on the highways. So, now they are claiming once again that a new tax is needed.

    Gas tax hike has Californians paying more for less - The San Diego Union-Tribune
    This will buy more votes for the Champagne socialists. It is actually a scheme to send a lot more money to CALPers. The blob State wants to ensure their own retirement. Remember, the blob State is the writhing mass of bureaucrats who keep demanding ever-more money.

    The French State spends 57% of the GDP. VERY generous of them. They are way out of compliance with EU law on debt levels. Macaroon wants to do something about that.

    "Soon, these will be the lucky ones. A recent request from a functionary at Southern Illinois University highlights how this school will deal with the “no money for teachers because admin is taking it all” problem:
    …seeking qualified alumni to join the SIU Graduate Faculty in a zero-time (adjunct) status.
    “Zero-time” is admin-speak for volunteer. So, instead of adjuncts getting sub-minimum wage and no benefits, this school wants to get adjuncts to work for, quite literally, nothing."
    "It used to be, the entire purpose of a university was teaching and research. Today’s universities exist only to support the administrative class,"
    Keep in mind that a great number of administrative jobs have been replaced by computers. The schools (and State) are packed with well-paid zombies. Their pay level is WAY above the teachers who do the actual work. They sit in their offices writing memos to other administrators.

    The youth have had their future stolen by the bankers. They have little hope of a good job and / or family. Depression sets in.

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  • Danny B
    General Strike,,, 12 indicators,,,Italy,,, eternal money printing

    The lower loop of the economy is where all the actual work gets done.
    Have you ever heard of investment bankers calling a general strike?
    Nope, the general strike originated between the Patricians and Plebeians in Rome. It has been used many times since then.
    Wiki, "1947, General Douglas MacArthur, as Supreme Commander of the Allied Powers in Japan, banned a planned general strike of 2,400,000 government workers, stating that "so deadly a social weapon" as the general strike should not be used in the impoverished and emaciated condition of Japan "
    "the general strike as a mechanism to prevent war, which anarchists supported, but socialists refused to endorse.[32]"

    Here is a good article on worker compensation levels between workers and management.
    Brazilians have discovered that they don't need a general strike to bring everything to a stop.
    Even Uber drivers have joined in and, are blocking fuel trucks from leaving refineries.
    Truckers' strike brings Brazil's economy to a halt - News - The Ledger - Lakeland, FL

    12 Indicators,
    #12 German banking giant Deutsche Bank just announced that it will be cutting another 7,000 jobs as it “seeks to turn the page on years of losses”. Those of you that have followed my work for a long time know that I have written extensively about Deutsche Bank, and it really is amazing that it has survived for this long. If Deutsche Bank fails in 2018, it will essentially be a “Lehman Brothers moment” for the entire planet."

    #5 Mortgage interest rates just hit a 7 year high, and they have been rising at the fastest pace in nearly 50 years. This is going to be absolutely crippling for the real estate and housing industries.

    #4 U.S. Treasury bonds are having the worst start to a year since the Great Depression.
    Thank Armstrong
    12 Indications That The Next Major Global Economic Crisis Could Be Just Around The Corner

    So, just how much default can the system take before it melts down?

    5/27 Moody’s puts Italy on downgrade review, junk possible – Zero Hedge
    Doesn't matter much. Nobody is buying Italian debt besides Draghi.
    5/27 Italy’s new government is bad news for the euro – Spiegel,,, say the Germans.
    5/27 ECB preventing Italian rerun of the euro crisis — for now – MW Yeah, Draghi has his finger in the Italian dike.
    5/27 “I accidentally threw away $60 million worth of bitcoin” – NY Post
    5/27 Bitcoin backlash as ‘miners’ stress power grids in Central Washington – Seattle Times
    Bonneville is going to melt down

    5/27 Spain’s Ciudadanos party open to alternative candidate to oust PM Rajoy – Reuters
    Rajoy attacked the Catalonians. This did NOT go down well with the rest of Spain.
    5/27 How the media helped legitimize extremism – Wired
    The word is CREATE, not legitimize.

    "They conceal public borrowing, while providing long-term state guarantees for profits to private companies.” They also divert public money away from the neediest infrastructure projects, which may not deliver sizable returns, in favor of those big-ticket items that will deliver hefty profits to investors." WARS

    "Central Banks are giving up any pretense of being able to end their monetary stimulus.

    The ECB can’t even hit a TWICE extended deadline without having to panic and extend it a third time. "
    Putin is warning about the dire effects of protectionist measures. The Smoot-Hawley act in the 30s reduced world trade by 50%.

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  • Danny B
    Euro,,,stimulus to the moon,,,Jubilee

    Keep in mind that everything is speeding up. When a person buys a bond, they are going "long" the currency. When a person buys stocks, they are going "short" a currency. Armstrong.
    The CBs tried to print up so much currency that much of it would flow into bonds. Traders are blowing up RE prices and stock prices to avoid bonds.
    5/26 Bay Area home prices blast through new records – Mercury News
    5/26 San Jose home prices are rising 3 times faster than national rate – SVB
    5/26 San Diego home prices spike in April – Fox 5
    5/26 Home values are skyrocketing at the fastest pace since 2006 – MarketWatch

    Sovereign bonds will collapse and go to?zero?. Real estate won't ever go to zero. So, RE is blown up beyond norms but, not beyond reason.
    Various European States regularly devalued their bonds or, defaulted. The technocrats were going to force them to end that practice by locking them into the Euro currency. They never changed any of the fundamentals. They just took away the pressure-relief valve. Armstrong told them in 1997 that no currency union had ever been successful without a debt union.
    Today is the tomorrow that they didn't worry about yesterday. Don't forget about speed.

    " If you want to define the main fault of the Euro, it is that: it creates problems that would not have existed if the common currency itself didn’t. This was inevitable from the get-go. The fatal flaw was baked into the cake. "
    "Europe is not ready to call for the end of the experiment. Because so much reputation and ego has been invested in it, and because the richer nations and their banks still benefit -hugely- from the problems the poorer face. The one country that got it right was Britain, when it decided to stay out of the eurozone. "
    "The Euro was devised and introduced, ostensibly, to solve problems. Problems with cross border trade between European nations, with exchange rates. But instead it has created a whole new set of problems that turn out to be much worse than the ones it was supposed to solve. "

    "The Euro has entirely outlived its purpose, and then some. But it exists, and it will be incredibly painful to unravel. The new game for the north will be to unload as much of that pain as possible on the south.

    Europe would have been much better off of it had never had the euro. But it does. The politicians and bankers will make sure they’re fine. But the people won’t be."
    "Technology has eradicated the reason why the euro was introduced in the first place, and made it completely unnecessary. But the euro is here, and it is going to cause a lot more pain and mayhem"

    As if Europe isn't screwed up enough all ready, "They" are working to flood it with 100 million mostly useless immigrants.
    Soros and like-minded a-holes are going to flood Europe with millions of non-producers,,,, and, Europe has very generous welfare programs that will quickly break the bank. So, what do all the immigrants do when the welfare stops?

    "Very early one morning in February of 2016 everything U-turned and rocketed higher. Suddenly and magically, the panic was over. This wasn’t the invisible hand of the market at work; it was the very-visible hand of central bank intervention. "
    "After many years of force-feeding stimulus into the global economy to create a "recovery", the central banks have become increasingly concerned that asset prices have become too dependent on said stimulus. So in late 2015, the banks took their feet off of their monetary gas pedals for a bit to see what might happen.

    They were hoping that the markets could be gradually weaned off of their stimulus dependence with few ill effects. They wanted to engineer a "soft landing", where if priced declined, they'd come down gradually and not too much.
    That didn't happen.
    Instead, the cheap-money-addicted markets instantly started expressing massive withdrawal complications."
    "We are still paying the price from 2008, when the central banks committed a massive error by not allowing the markets and their bad debts to actually clear. Yes, it would have been acutely painful; but we would have been through the worst within a year or two and in the process restored the system to a much healthier and sustainable state."
    Minus most of the banks. NOT on Obummers watch.

    "If we've been in "recovery" for years now, as the central banks have been touting, then why has 2016-2108 seen the most stimulus ever injected into the system?"
    What do you think paid for the recovery?
    "The pain of the 2008 crash will seem like a mere flesh wound compared to the devastation the next deflationary wave will wreak. "

    "The currencies and bonds of five countries are now in the danger zone, and many more teeter on the edge. My analysis is that the central banks will resort to their usual money printing to resolve the issue, but for reasons I explain in Part 2, these efforts will fail at some point in the next year -- and spectacularly so."

    "When today's Everything Bubble bursts, the effect will be nothing short of catastrophic as 50 years of excessive debt accumulation suddenly deflates.

    Given the dangers involved, you should expect the central banks to 'go nuclear' in their deflation-fighting efforts by sending “money to main street” -- likely in the form of a universal basic income, or a check from the Treasury refunding your last 3 years of tax payments, or maybe even an electronic deposit directly from the Federal Reserve into your bank account."
    Hooray, I can quit my job and spend the money on hookers and blow.

    Good technical article.
    "The better the market the greater the demand for credit. Thus an increase in the supply of credit itself stimulates the demand for credit…" (Hawtrey, "Currency and Credit").
    " The equilibrium line is like a razor's edge. The slightest deviation involves the risk of further movement away from equilibrium…the expansion could go on indefinitely, if there were no limits to the increase in the quantity of money" (Gottfried Haberler, "Prosperity and Depression")."
    " Eventually, the monetary expansion comes to an end and a painful downside to the cycle becomes unavoidable. At least that's the way it used to work.

    Hawtrey would find today's financial architecture unrecognizable: unfettered finance on a global basis; near zero and even negative interest rates; open-ended QE and ballooning central bank balance sheets; central bank manipulation of bond yields and asset prices; highly leveraged securities holdings and a derivatives marketplace to the tune of hundreds of Trillions."

    "The crisis will create a domino effect and trigger global financial contagion, which I usually refer to as "The Great Reset."
    The collapse of high-yield bonds will hit stocks and bonds."
    Side note 5/26 Moody’s warns of ‘particularly large’ wave of junk (high yield) bond defaults ahead – CNBC

    "As always, a U.S. recession will spark higher federal spending and reduce tax revenue. So I expect the on-budget deficit to quickly reach $2 trillion or more. "
    Who is going to buy all this dirty paper?
    "Meanwhile, job automation will intensify, with businesses desperate to cut costs. The effect we already see on labor markets will double or triple."
    Side note.
    "The world simply has too much debt, much of it (perhaps most) unpayable. At some point, the major central banks of the world and their governments will do the unthinkable and agree to “reset” the debt.


    It doesn’t matter how, they just will. They’ll make the debt disappear via something like an Old Testament Jubilee."

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  • Danny B
    EM, Deutsche bank,,,Italy,,, Armstrong

    Armstrong has a short vid on understanding the difference between money and assets.
    Central banks want to know who owns what,
    Armstrong on BTC and money laundering,
    5/25 About $1.2 billion in cryptocurrency stolen since 2017 – Reuters

    The corporatocracy and the Eurocrats were not able to completely erase democracy.
    5/25 Italy’s deplorables unite against Europe’s elites – Weekly Standard
    5/25 Italy’s belligerent new coalition is bad news for the EU – Guardian

    The real cost of living index,
    Chapwood Index - The Real Cost of Living Increase Index Vs Consumer Price Index - Founded by Ed Butowsky

    Here is a graph of emerging market currencies,
    As the dollar goes up, THEY crash down. Soon, it is far too expensive to service their debt. Not enough dollars in circulation and, they cost too much.
    "As everyone knows, Deutsche Bank has resumed the collapse that started in 2008 before the Fed, ECB and Bundesbank combined to keep DB from collapsing. Why was DB saved? Because DB’s balance sheet likely represents the largest systemic risk to the global financial system. It has been burning furniture for years and now the bank is unloading more than 10% of its workforce as well as dismantling its North American and Investment Banking operation. 25% of the equity sales and trading personnel are being eliminated."
    So, is Deutsche bank going to collapse before Italy Collapses?

    5/25 Germany accuses Italy of “debt blackmail” – Mish
    Better get used to it.
    The U.K. military needs LOTS more money to prevent a Russian invasion.
    Last edited by Danny B; 05-26-2018, 02:46 AM. Reason: Duh

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  • Danny B
    Hegel's dream,,,less law, more profit,,, chinese lock up more markets

    Armstrong said that interest rates are going to go up faster then people realize is possible. We get a 2fer.
    "The energy output of the sun peaked in 2015 and has been crashing faster than anyone thought possible."
    Social Security is on the ropes,

    A bunch of pensions are on the ropes,
    "A few smart Democrats, including Bernie Sanders and Cory Booker, have figured this out. Their alternative to Trump’s policies is a government guaranteed job for every American who wants one. The jobs will be low or negative productivity government jobs requiring few or no skills and offering no advancement."
    Armstrong said that 33% of those employed worked for GOV of some sort. I thought it was much lower. Just imagine, everybody working for the government. Dunno if it includes private contractors who sub out GOV work.
    Communitarianism - Final Synthesis In Hegelian Dialectic

    Just as the banks killed Glass-Stegal, they are now killing off more of the Dodd-Frank bill.
    We don't need no stinkin regulations.
    You Brits have a big divorce bill waiting for you.
    Evidently, the military-industrial complex is getting stressed out after 20 years of constant war.
    Not sure what to make of that.

    "When China bought the LME the usual suspects in the contrarian investing community talked about the coming apocalypse for the bullion banks. It never happened. In fact, China was in a position to help them cap the price of gold and extend the gold bear market for the past six years while it and its strategic partners, namely Russia, accumulated vast quantities of the world’s most important metal."
    Yep, it makes sense for the Chinese to hold down the price of gold at the same time that they wanted to load up.

    "We’ve all been breathlessly focused on how strong the so-called ‘petroyuan’ oil futures contract has been for the Shanghai Exchange. It has captured more than 12% of the total oil futures market in just under two months. That’s incredible."
    China is taking over all the metals markets which will put even more pressure on the dollar that the Petro-Yuan does.
    If the U.S. military is already short of strategic materials, just imagine what it will be like when China starts locking down more metals than just rare-earths.
    This is one more reason why China will blow Taiwan out of the water before they will let Pox Americana get the the North Korean bonanza of rare-earths.

    China can cause a huge spike in the price of gold any time that they want. They know that the crash is coming. They helped it along. Gold will be re-priced and, they have the gold. This gold will buy confidence from the R.O.W. Uncle Sam has empty vaults.
    Here is a good article on understanding the difference between the Federal Funds rate and the LIBOR rate. It is worth understanding.

    Leave a comment:

  • Danny B
    Asymetric effects

    Other news;
    Central bank digital currencies,,, control to the nth degree.
    Charles Hugh Smith and a must-read article.
    " But the effects of the next recession won't be linear--they will be non-linear, and far more devastating than whatever modest GDP decline is registered. To paraphrase William Gibson's insightful observation that "The future is already here — it's just not very evenly distributed": the recession is already here, it's just not evenly distributed-- and its effects will be enormously asymmetric."
    oftwominds-Charles Hugh Smith: The Next Recession Will Be Devastatingly Non-Linear
    Most of the people that I know are working overtime and buried in work. The people of lesser abilities are living in a tent under a bridge. Life is competitive.

    5/23 Emerging market stress just beginning as record debt wall looms – Bloomberg
    This is a new phenomenon that was recently demonstrated by Argentina. They went form selling 100 year bonds to ,,,, needing an IMF bailout in a matter of 2 weeks. capital flows at the speed of information AND confidence.
    5/23 “A sense of panic in the air” as Italian bond carnage returns – Zero Hedge Once again, SPEED.
    5/23 Italian crisis is far from over – Zero Hedge It hasn't even gotten to a good start.
    5/23 Italian 2-Year yield still near 0%, as new government proposes creditor haircut – WS
    That "haircut" will be done with a machete or a chainsaw.
    5/23 French unemployment rises to 9.2% – MarketWatch

    5/23 Trump, Moon try to keep North Korea summit on track amid doubts – CBS 12 NO summit, period
    5/23 Lawsuit claims Monsanto hid cancer risk of RoundUp for decades – Guardian I'm SHOCKED !
    Silicon Valley and, over-stuffed unicorns.

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  • Danny B
    The shale industry

    I have to focus on oil and, it isn't looking good. This is going to take some reading. The recent glut of oil is winding down.

    "Few Americans realize that the U.S. economy is being propped up by the Shale Oil Industry. However, the shale oil industry is nothing more than a Ponzi Scheme, so when it collapses, it will take down the U.S. economy with it. Unfortunately, the reason few Americans understand how lousy the economics are in producing shale oil and gas is due to the misinformation and propaganda being put out by the industry and energy analysts."
    "I provide some interesting charts that explain how the huge decline rates and massive debt are going to bring down the industry, much quicker than the market realizes."

    "The Permian, the largest shale basin in the United States, decline rate was a stunning 60% in just two years. Thus, the companies producing oil in the Permian are forced to spend boatloads of Captial Expenditures"
    "Furthermore, I explain how many of these shale oil companies are using debt to fund operations. However, lousy shale economics are not allowing these companies to pay back debt, so they must borrow new debt to pay back existing debt. "

    The comments are more interesting than the article.
    "Isn't it the last hours of empire when most or all of her financial acumen is only scams and hustles for the rich to get as much money out of the dead carcass before it dies and then run off.
    "Oil going to $30? I doubt it because we are doing the exact opposite of over investing in future production as we did back in 2008, $30 means a glut is on the way - Or is demand going to slump that hard?

    "we have been saying for the last 6 years. Jean Leharrere has been saying it for the last 10. To add insult to injury to keep production even for Shale (because of their horrible decline rate) over the next 5 years will require the drilling of an additional 1.5 million new wells. Which will have a $7.3 trillion price tag attached. That also assumes that they can find places to drill 1.5 million new wells. The sweat spots have long been exhausted. Now it is down to just harder than a brick source rock."

    "Today, companies producing shale had to go public because it takes the BAMBOOZLING of faceless investors to produce uneconomic oil and gas.
    However, at some point, very soon, thermodynamics of oil depletion will take the printing press away from the Fed & Central Banks.
    e wheels of energy production MUST keep turning, otherwise the engine of the global economy dies and takes down civilization with it. The Shale Revolution was a great JOBS program. It kept the oil production industry and all the industries that service oil production in business for a few years longer. It kept people working.
    It kept the illusion of "all is well" alive. They had to bamboozle investors -- and print trillion$ in new money -- and keep rates artificially suppressed, etc. What it "took" to keep civilization creeping forward another ten years, from 2008 until today, looks insane at first glance, but when we realize that everything done since 2008 had one and only one goal -- to keep civilization from crashing and burning -- then it all starts to make sense. Short term measures though. It seems like the gig is just about up.

    "He said these wells lose 50 percent in under 12 months. They must keep drilling new wells to keep the product flowing. There are ads on the radio for investment products paying 10 11 12 percent for paper on these projects to satisfy the demand for yield on retirement plans. There are people selling and people buying this paper which generates cash to fund these operations. They probably wont pay the first or second coupon because the wells stop hitting the mark so fast before the first coupon is due."
    "The problem with rising oil prices is that it impacts costs. Which is why the Shale Oil Industry didn't make any money at $100+ oil either. As oil prices increase, it thunders through the shale industry as rising costs. However, the rising price of oil from the low of $30 was beneficial in the short-term as drilling equipment rental prices were slashed just to keep the lights on.

    But, now that more drilling is taking place, drilling equipment costs are increasing once again. Also, the massive 30-50 stage fracks in the Permian are sucking down 15-20 million pounds of sand, trucked all the way from Michigan, and 500,000 barrels of water per well. The EROI of shale oil today must be closer to 2/1.

    So, even though the oil price is rising currently, costs will continue to increase as well. "
    "Did you explain to Art that they may come in at 15:1 and be 5:1 in 6 months. In five years you have, at best, a rich gas well. They are still producing a few dollars, but at $2.63 MM not many. That is when you go to some stupid banker, tell them about the great oil well that you have, show then five year old books, and borrow some more money. It wasn't technology that made shale, that was all invented 50 years ago, it was dumber than a rock investors. "

    "Meanwhile the EROI of all these wars for control of dwindling oil reserves is encapsulated in US and EU debt levels overall … never mind just the small portion involved in fracking. She's all gonna blow and quite soon.
    "Fully Agree - looking at first quarter of the large 10 or 15 (producers) only a few are in the black most are in deep RED and can't service their DEBT. Decline % after the first year for a well is around 63%."

    The US politicians, government, and banks are working against the US citizen.
    Specifically they are all extracting as much wealth as they can, as fast as they can, because they can.
    This will go on until there is no more wealth, or future wealth, to extract, or "we the people" put and end to it."
    Here are the numbers:

    Just in the past few years, the average frac has gone from needing about 4 million gallons of water (100,000 barrels) to needing 20 million gallons (500,000 barrels) or more – sometimes much more.
    "follow da money...

    why is the USA and now trump and his merry bunch of war mongers, so obsessed with the Middle East resources, routes to market, and trying to upturn the tables on Iran, Russia and China? Iran and Russia have 60% of world energy, a combined one hundred trillion $ of assets, which they’d rather sell to Europe and China for yuan and euros. Game over man, the USA needs to spend its military budget on renewables in its vast country, if not then inside twenty years it’ll look like a scene from mad max. "

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  • Danny B
    Sovereign default will be a NECESSITY

    It's not just Hawaii. There are rumblings everywhere.
    5/23 Silicon Valley tech bubble is larger than it was in 2000, and the end is coming – CNBC
    5/23 Wishful thinking is no way to address public pension shortfalls – CEI
    RIGHT, so, use the printing press to fix the problem.
    5/23 Santa Monica requires painful changes due to unfunded liabilities – Surf Santa Monica
    Yep, but don't worry. No politician will lose her job or feel the pain.

    5/23 Fed study asks: Are Millennials a lost generation? – Mish The FED and SEC stole their future. It wasn’t lost.
    5/23 Unexpected warning from Goldman Sachs: “Something is not quite right” – ZH
    The pyromaniac has noticed the fire.
    5/23 41% of Americans have less than $400 of cash on hand – Zero Hedge
    So, what is the cost of a pitchfork and torch?
    5/23 Will Italy spell the end of the euro? – Globalist
    The inception of the Euro was a stupid action guaranteed to fail.

    5/23 Pompeo’s Iran plan: Tell them to give up – New York Times
    Yep, by 'them", he means Russia, Iran, China, Syria, Iraq and most of Central Asia and parts of Western Europe. The world has grown up and can't be threatened any more.
    5/23 With fears of full-scale cyberwar, questions of attribution arise – CIO Dive
    5/23 Banks are going full bunker mode to fight cybercrime – Hustle

    We're going back to tally sticks.
    5/22 Humans just 0.01% of all life but have destroyed 83% of wild mammals – Guardian
    The bacteria and virus will be the ultimate conquerors.

    The Russian stock market and, sovereign debt is the best in the world.
    "One of the most pervasive myths about the United States is that the federal government has never defaulted on its debts. Every time the debt ceiling is debated in Congress, politicians and journalists dust off a common trope: the US doesn’t stiff its creditors.
    There’s just one problem: it’s not true."

    "But this would not be as easy as FDR calculated. Most debt contracts at the time included a “gold clause,” which stated that the debtor must pay in “gold coin” or “gold equivalent.” These clauses were introduced during the Civil War as a way to protect investors against a possible inflationary surge.

    For FDR, however, the gold clause was an obstacle to devaluation. If the currency were devalued without addressing the contractual issue, the dollar value of debts would automatically increase to offset the weaker exchange rate, resulting in massive bankruptcies and huge increases in public debt."
    "To solve this problem, Congress passed a joint resolution on June 5, 1933, annulling all gold clauses in past and future contracts. "
    "On January 30, 1934, the dollar was officially devalued. The price of gold went from $20.67 an ounce – a price in effect since 1834 – to $35 an ounce. Not surprisingly, those holding securities protected by the gold clause claimed that the abrogation was unconstitutional."

    "The underlying question in each case was essentially the same: did Congress have the authority to alter contracts retroactively?

    On February 18, 1935, the Supreme Court announced its decisions. In each case, justices ruled 5-4 in favor of the government – and against investors seeking compensation. According to the majority opinion, the Roosevelt administration could invoke “necessity” as a justification for annulling contracts "
    "Justice James Clark McReynolds, a southern lawyer who was US Attorney General during President Woodrow Wilson’s first term, wrote the dissenting opinion – one for all four cases. In a brief speech, he talked about the sanctity of contracts, government obligations, and repudiation under the guise of law. "
    "A key question, then, is whether governments seeking to adjust contracts retroactively may once again invoke the legal argument of “necessity.”

    Ronald Bernard has more to say,
    EXCELLENT article from Armstrong covering; the supremacy clause,,,, crypto currency,,,State seizure of assets whenever it is deemed necessary.

    " the French. They would sell their shares to a Brit who would be exempt from the tax and then the following day buys them back splitting the tax savings. Not the Germans are licking their lips at how much money they can now fine banks for helping these type of transactions while they are threatening the traders with ten years imprisonment."
    "This attempt to use the criminal proceedings in Germany is by no means a solid case. There is such a thing as Ex Post Facto, which means you cannot declare something to be a crime after the fact. It appears that ten years in prison is the favorite means to extort money from people against the law over controversial share transactions, that are retroactively applied when they were not before. "

    Yep, the State is on a hunt for taxes, fines and fees.
    "the Roosevelt administration could invoke “necessity” as a justification..."

    That is the siren song of progs. When they don't have an appealing reason for something they want then they pull out the "necessity" statement. It is always a bald-faced lie.

    Roosevelt and his kind CAUSED the depression. And then they kept it going as long as possible, in order to grant themselves more and more and more POWER. If they had stayed out of the way the depression would have resolved itself quickly, and fairly.

    One guarantee in life - progs are always liars. Their only interest is in themselves."

    FDR doubled down on the interventionist economic polices already started by Hoover. The charge was that Hoover hadn't done enough whereas he had done far too much.

    FDR really hit a high note when he enacted a policy of destroying crops and livestock in order to drive food price inflation while millions were going hungry."

    "Necessity is the plea for every infringement of human freedom. It is the argument of tyrants; it is the creed of slaves."

    -- William Pitt the Younger

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  • Danny B
    Printing to hold off the defaults,,, the U.S. corporation

    The corporatocracy, especially the parasitic sector thought that it would be a good idea to have war on labor. They also thought that it would be a good idea to shred the safety net. Then, all the money would flow upwards to them. This money is debt money. When wages are destroyed, there is no money circulating in the economy. The CBs created an "extra" $200 trillion of debt to tide them over until the lower loop could once again carry the load. The banks did a thorough job of regulatory capture.
    26 Goldman Sachs Alumni Who Run the World (GS) | Investopedia
    Apr 18, 2017 - How Goldman Sachs alumni run the the world. .

    Draghi, from GS is FORCED to print the money needed to service the debt that the people can no longer service. All the CBs are printing $trillions waiting for the consumer to return to her old ways of consumption. As consumption fell, capital drove wages down further to maintain margin.
    Evidently, the corporatocracy is focused on earnings alone.
    The State takes on $bazillions in new debt to keep the banks afloat. State debt has gone to the stratosphere and the private sector doesn't want to buy any more. We are just passing the time waiting for the defaults to smother the banks.

    5/22 Consumer debt is set to reach $4 trillion by the end of 2018 – CNBC
    5/22 Japan government advisers lay groundwork for more welfare spending – Reuters

    There will be enough money in the lower loop as long as the state continues to print more.
    5/17 Housing ATM is back (but it won’t work any better this time) – Mish
    5/22 Share buyback boom continued apace during recent earnings season – MW

    Buybacks diminish the number of outstanding shares and, increase earnings and bonuses. Beware the hangover.
    Everybody is nervous about the new government in Italy;
    5/22 Italy a ‘submerging market’ as borrowing costs exceed Indonesia’s – Bloomberg
    5/22 Italy on verge of introducing fresh European crisis – Zero Hedge
    5/22 Italy’s new puppet Prime Minister. Time ringfence the country? – Mis

    Yeah right, ringfence.

    The money supply is all debt. The banks are waking up to the fact that they hold notes of negative value. The poor aren't going to pay off 200 or 300 $trillion.

    This is the kind of stuff that got Trafficant killed;
    "What is the meaning of Fascism? Corporate power in control of government. Socialism is the government in control of corporations and everything else. Both are known as Collectivism as both create a form of centralized authoritarian dictatorship. What is America? A private foreign owned off-shore corporation subjugated and being destroyed by a witch’s brew of techno-feudal marxist/fascist Collectivism."

    Fascism ruins the economy faster than socialism. Democracy always morphs into socialism. It usually takes about 150 years. Democracy is a temporary situation. BUT, if you compare the economies of North & South Korea, you can see that democracy works well while it works. The same is true for East & West Germany.
    There are claims that this was planned all along.
    Last edited by Danny B; 05-23-2018, 03:52 AM. Reason: Misteake

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  • Danny B
    Dollar shortage, China,,, Italy

    Everything that Armstrong wrote about a rising dollar exploding the emerging markets seems to be coming to pass.
    "Brent (oil) rising above $80 this week for the first time since 2014 - a move which is counterintuitive in the context of the sharply stronger dollar, and which has resulted in even tighter financial conditions across the globe, but especially for emerging market importers of oil."
    "private sector QT", further exacerbating tighter monetary conditions and the growing dollar shortage (resulting in an even higher dollar)."
    "In other words, the last thing the Fed wants right now as it accelerates its balance sheet normalization, is a sharp spike in the dollar. And yet, that's precisely what is happening. "
    What did the FED think would happen when they reduced the quantity of dollars in circulation?

    "For Kocic, the relative strength of the dollar is the exogenous event that could awake markets from their peaceful slumber, resulting in a violent reassessment of monetary conditions as the Fed quietly undoes the biggest monetary experiment in history,"
    "The punchline: the dollar surge, catalyzed by the April 17 PBOC RRR cut, has launched a feedback loop which, very much like the Chinese 2015 devaluation, culminates in one of two possible unpleasant - for the Fed - outcomes: a collapse in EMs should dollar strength not be arrested, which then morphs into a broad-based liquidation of all risk assets "
    Broad based liquidation IF you can find a buyer.

    Armstrong writes that the financial capital of the world will shift to China. I suppose that this will happen AFTER the global meltdown.

    Europe; The technocrats worked hard to force the eurozone pact down the throats of the various States. As is usual for politicians and tech people, they made not the slightest consideration for differences between different cultures. The forced neoliberal economics on everybody.
    "The downfall of the political establishment—and the rise of the “populist” parties—can only be understood against the backdrop of the “the longest and deepest recession in Italy’s history,” as the governor of the Italian central bank, Ignazio Visco, described it. Since the financial crisis of 2007–9, Italy’s GDP has shrunk by a massive 10 percent, "

    "As a result, around 20 percent of Italy’s industrial capacity has been destroyed, and 30 percent of the country’s firms have defaulted. "
    "effective unemployment rate of 30 percent, which is the highest in all of Europe. Poverty has also risen dramatically in recent years, with 23 percent of the population, about one in four Italians, now at risk of poverty—"
    The Eurozone "works" for the bankers,,,, just not for the people. It was forced austerity across the board.
    "which concludes that the measures of fiscal consolidation (budget cuts and tax hikes) pursued over the 2012–15 period reduced Italian GPD by almost 5 percent (about €75 billion a year, for a staggering total of around €300 billion), consumption by 4 percent, and investment by 10 percent,"
    Maybe, that wasn't such a good plan after all.

    "Throughout the 1970s and 1980s, growing wage pressure, rising costs, and increased international competition caused a squeeze on profits, provoking the ire of large capital holders. "
    "The Trilateral Commission’s oft-cited Crisis of Democracy report of 1975 argued, from the establishment’s perspective, that a multilevel response was required. It argued not only for reducing the bargaining power of labor,"
    How could so many people be so STUPID? If you reduce wages, you reduce consumption and the economy. The money may all float to the top but, it is worthless there.
    (Trilaterals) " greater disengagement (or “non-involvement”) of civil society from the operations of the political system, to be achieved by spreading “apathy.”
    "depoliticizing economic policy, that is, of removing macroeconomic policies from democratic and parliamentary control through a self-imposed reduction of national sovereignty."
    THAT is called communism and, it has always been a financial bust.

    "Their aim was not simply to insulate economic policies from popular-democratic challenges, but also to reduce the political costs of the neoliberal transition,"
    "taly was seen as requiring far-reaching “reforms,” even though no popular consensus supported such policies. "
    Nope, they didn't want to be serfs.
    "From the establishment’s perspective, the fact that EMU also entailed the deindustrialization and “mezzogiornification” of the country—to the benefit of German and French firms, which have taken over a great number of businesses (or acquired significant stakes in them) in Italy and other periphery countries—and its demotion to a subordinated role within the European hierarchy of power, was a small price to pay for winning the war against labor at home. "
    This wasn't just a war against labor. The technocrats, under the banner of WONDERFUL neoliberalism wanted to destroy the entire social safety net. For being such advanced thinkers, they certainly are STUPID. Did it never occur to them what the effects of poverty would be?
    the population of Greece was estimated at 10,783,748 persons, down 0.68 percent year on year from a year earlier
    The neoliberals are as stupid as the socialists when it comes to starving the goose that lays the golden eggs.

    "the so-called sovereign debt crisis of 2010–11 was not a “natural” response of markets to Italy’s “excessive” public debt, but was largely “engineered” by the European Central Bank (ECB) to force countries to implement austerity."
    "It was a form of economic waterboarding that has left the Italian economy devastated"
    "led to apoplectic calls from the media to rein in the deficit through emergency austerity measures and ushered in Mario Monti’s “technocratic” government." The media, huh?

    "This gives an enormous amount of power to the unelected and unaccountable ECB, which can (and does) use its currency-issuing powers to impose its own policies on recalcitrant governments (as it did in Greece in 2015, when it cut off its emergency liquidity to Greek banks in order to bring the syriza government to heel and force it to accept the third bailout memorandum) or even to force governments to resign, as it did in Italy in 2011. As the Financial Times recently acknowledged, the ECB effectively “forced Silvio Berlusconi to leave office in favor of unelected Mario Monti,” From Goldman Sachs)

    As more and more people start to acknowledge the anti-democratic and neocolonial nature of the European Union, " The corporatocracy.

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  • Danny B
    Willie and Fulford,,,, gold and nukes

    Jim Willie is at the fringes because he writes about stuff that isn't widely perceived. Of course, he has more "misses" than most writers but, at least you get a preview of possibilities.
    " As central banks across the globe discharge (dump) a sizeable portion of their USTreasury Bond holdings, they will seek alternatives. They will choose Gold bullion and Chinese Govt Bonds more often"
    "Indirect Exchange. The latter is a practice of using USTBonds for instance in large projects as cash payment from two parties, like with China and Russia in building an oil pipeline."

    "USDollar will no longer have sole trade payment status. It is losing its monopoly, led by oil shipments, the sole status lost to the Chinese RMB. The Petro-Yuan contract out of Shanghai is a major game changer. Many observers believe this is a minor issue, but it is not. As more nations purchase oil with RMB, the banking systems will see the RMB Bonds push out the USTBonds in their reserves management. As the Jackass has stated consistently, gold will be introduced first in trade payment, then in bank reserves, and finally in currencies."

    "Hidden important aspects in banking structures and debt structures are in the making, some difficult to fully discern. They relate to the Uniform Commercial Code (UCC) filings against all private money systems. "
    I can find no other reference to a UCC filing like this.
    "Nations must resolve trade imbalances. Since the abrogated 1971 Bretton Woods Accord, which had set the Gold Standard, the imbalances have grown without bound. The worst offender nation is clearly the United States, which exchanges fraudulent debt securities for finished products and commodity supply. The USGovt debt will never be repaid, a fact gaining awareness. Thus the payment for ample imports in the form of USTBills and USTBonds is spurious at best, and fraudulent at worst."

    "Multi-polar global financial system will continue to emerge. Since the end of World War II, the United States decided to gradually impose a quasi-democratic dictatorship, which has morphed into a global cabal fascist dictatorship since September 2001. The unipolar rule has resulted in profound chronic abuse of power, tremendous development of corrupt systems, hyper monetary inflation as standard policy, a push toward confrontation with the anti-Rothschild East"

    "Nations must demonstrate gold reserves in order to participate in global trade. They must produce gold and post the gold as reserves, subject to independent audits. Expect the United States to continue in its astounding gold accounting fraud, but the rogue nation will be revealed and unmasked as massive fraud kings."
    "The United States cannot go to war with the Eastern superpowers, along with their entire armada of nations aligned in favor of the Gold Standard and aligned against the continued USDollar usage. "
    "The Dollar Sphere will rely upon USGovt pressure and even USMilitary coercion."
    It always has.
    "When the gold-backing for the Chinese RMB is announced and launched, the Dollar Sphere will lose ground in a magnificent manner with a potential collapse episode, culminating in a USGovt debt default event."
    What a surprise.

    "Emphasis on infra-structure toward economic development will be given by the Eastern coalition of nations which have formed the Eurasian Trade Zone. The Belt & Road Initiative has tremendous momentum, an impressive list of participating nations, and an enormous $8 trillion in projects, many of which have begun. Few economists comprehend the basic economic fact, that economic development, business growth, job creation, and wealth generation begin with business investment. And business investment begins with infra-structure development. Without roads, highways, railways, bridges, tunnels, port facilities, broadband internet, fiber optic lines, high voltage lines, and other means of flow, economies like the neglected USEconomy will continue to rot. "

    This is a very important aspect. The U.S. infrastructure is rotten. All the money and productivity was poured into war industries. It is simple, war industries give a higher rate of return than domestic infrastructure. Not to mention that Tel Aviv / New York bought congress to press for world domination.
    "The USGovt has spent over $25 trillion since 1975 on military, while earning global resentment and broadbased enmity. The US has neglected its infra-structure and finally resembles a Third World nation more then ever in over 200 years."
    "Nations which do not embark on significant infra-structure projects will fall by the wayside."

    "Sanctions led by the USGovt, far beyond its jurisdiction and rule, have resulted in a nearly universal anti-USD policy, even among many US allies. The FATCA rules sealed the deal in angry global reaction. The British have joined the AIIBank, much to the ire of the Washington Fascist lunatics. "
    Global RESET Challenge: Ultimate Twist

    Along with Jim Willie, there is Benjamin Fulford. His stuff can be pretty hard to digest but, it gives you an idea if which way the winds blow.
    Trump Iran sanctions aimed at forcing Middle East peace, Pentagon sources say
    By Benjamin Fulford Weekly Reports 252 Comments

    The battle for the planet Earth has heated up again with major movements in the Middle East, Malaysia, Indonesia, Europe, the U.S., and elsewhere as a final showdown approaches between the Zionist fanatics who want World War 3 and the rest of humanity who want world peace and friendship."
    "On this front, the renunciation by U.S. President Donald Trump of the Iran nuclear accord is, on the surface, a major victory for the Zionists. However, Pentagon sources say, “The endgame is to force both Iran and Israel to de-nuke after North Korea, and then have permanent peace in the Middle East.”

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