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  #2791  
Old 05-25-2018, 04:35 AM
Danny B Danny B is offline
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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."
https://www.armstrongeconomics.com/w...43-year-cycle/
Social Security is on the ropes,
https://www.nationalreview.com/2018/...ership-needed/

A bunch of pensions are on the ropes,
https://www.benefitnews.com/news/mul...ical-condition
"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."
https://dailyreckoning.com/welfare-another-name/
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.
https://splinternews.com/congress-ju...tre-1826245874
We don't need no stinkin regulations.
You Brits have a big divorce bill waiting for you.
https://www.independent.co.uk/news/u...-a8364841.html
Evidently, the military-industrial complex is getting stressed out after 20 years of constant war.
https://www.rt.com/usa/427593-pentag...nitions-bombs/
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.
https://tomluongo.me/2018/05/24/petr...metals-market/
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.
https://www.businessinsider.com.au/r...bt-bomb-2018-5
Here is a good article on understanding the difference between the Federal Funds rate and the LIBOR rate. It is worth understanding.
https://seekingalpha.com/article/417...-interest-rate
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  #2792  
Old 05-26-2018, 02:42 AM
Danny B Danny B is offline
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EM, Deutsche bank,,,Italy,,, Armstrong

Armstrong has a short vid on understanding the difference between money and assets.
https://www.youtube.com/watch?v=Zz_SjyNAkBE
Central banks want to know who owns what,
https://www.youtube.com/watch?v=tFmof_wq1xw
https://www.youtube.com/watch?v=lrHfd0hsBhY&t=118s
Armstrong on BTC and money laundering,
https://www.youtube.com/watch?v=FDY7OuIwHGA
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,
https://www.activistpost.com/wp-cont...Untitled-8.png
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."
https://www.activistpost.com/2018/05...lack-swan.html
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.https://www.rt.com/uk/427759-mod-fun...uclear-russia/
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Last edited by Danny B; 05-26-2018 at 02:46 AM. Reason: Duh
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  #2793  
Old 05-26-2018, 10:05 PM
Danny B Danny B is offline
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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"
https://www.theautomaticearth.com/20...d-of-the-euro/

As if Europe isn't screwed up enough all ready, "They" are working to flood it with 100 million mostly useless immigrants. https://refugeesmigrants.un.org/inte...onference-2018
https://www.youtube.com/watch?v=3Z4woNYMyz8
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.
https://www.peakprosperity.com/blog/...nd-start-crash

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."
https://creditbubblebulletin.blogspo...stability.html

"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. https://www.axios.com/cities-act-to-...9ccceabe3.html
"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.

How?

It doesn’t matter how, they just will. They’ll make the debt disappear via something like an Old Testament Jubilee."
https://www.zerohedge.com/news/2018-...ade-us-history
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  #2794  
Old 05-27-2018, 07:42 PM
Danny B Danny B is offline
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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.
https://www.dollarcollapse.com/next-...issue-ceo-pay/
Brazilians have discovered that they don't need a general strike to bring everything to a stop.
https://www.reuters.com/article/us-b...-idUSKCN1IQ1N7
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?
https://www.dollarcollapse.com/debt-...student-loans/

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
https://ellenbrown.com/2018/05/26/bl...funds-to-work/

"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. "
https://www.zerohedge.com/news/2018-...nsibility-pt-2
Putin is warning about the dire effects of protectionist measures. The Smoot-Hawley act in the 30s reduced world trade by 50%.
https://www.rt.com/business/427767-p...ld-trade-peace
/
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  #2795  
Old 05-29-2018, 04:46 AM
Danny B Danny B is offline
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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

Technocrat.
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.
https://www.zerohedge.com/news/2018-...t-dollar-surge
"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.
https://www.lombardiletter.com/the-signs-of-the-next-financial-crisis-are-getting-louder/28418/?utm_source=categorypage&utm_medium=articlelist&ut 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.
https://www.zerohedge.com/news/2018-...repeal-gas-tax

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.
https://www.rt.com/news/427866-franc...cron-protests/

"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,"
http://professorconfess.blogspot.com...ty-pay-to.html
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.
http://thesoundingline.com/overdose/
https://www.zerohedge.com/news/2018-...across-america
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  #2796  
Old 05-29-2018, 02:50 PM
Danny B Danny B is offline
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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."
https://www.armstrongeconomics.com/i...g-on-schedule/
"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. "
https://www.armstrongeconomics.com/i...upied-country/
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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  #2797  
Old 05-29-2018, 07:32 PM
Danny B Danny B is offline
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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.



HOW THEY PROPPED UP GERMANY

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??

MISSION ACCOMPLISHED

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.

CONCLUSION

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.]
https://www.henrymakow.com/001583.html
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Old 05-30-2018, 04:23 AM
Danny B Danny B is offline
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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.
https://www.zerohedge.com/news/2018-...-them-not-vote

"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
https://www.theautomaticearth.com/2018/05/hotel-europa/

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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Old 05-30-2018, 02:58 PM
Danny B Danny B is offline
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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. "
https://www.armstrongeconomics.com/a...grandchildren/

"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."
https://www.armstrongeconomics.com/a...l-the-trigger/
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.
https://www.armstrongeconomics.com/w...ittle-ice-age/

"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."
https://www.armstrongeconomics.com/m...gn-currencies/

" 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."
https://www.armstrongeconomics.com/w...ortunity-risk/

Smith writes about "buffers" for the economy. It is a very good article.
http://charleshughsmith.blogspot.com...-collapse.html
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Old 05-31-2018, 03:26 AM
Danny B Danny B is offline
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borrow like there's no tomorrow,,, housing,, gold & silver

5/30 Italian banks under scrutiny, face downgrades – Bloomberg
5/30 Italy’s eurozone crisis: no easy fixes for the European Central Bank – Guardian

NO fixes at all.
5/30 Stock market borrowing at all-time highs, increasing risks – Naked Capitalism
The US Alone Borrows $3 Billion Per Day - That's 80 % of world's savings- SGT Report
US Treasury says Q1 borrowing set record of $488 billion - USA Today
The US needs to borrow almost $300 billion this week - CNN Money
Rand Paul: U.S. borrows $1 million a minute | PolitiFact


OK, what did we do with all this "money"?
5/30 First-quarter US GDP revised to 2.2%, vs 2.3% growth expected – CNBC
OK, so, all the money was pumped into the upper loop but, don't forget the offence contractors. What about the lower loop?
https://www.zerohedge.com/news/2018-...e-20-has-begun
5/30 Run-up in home prices is ‘not sustainable’: Realtors’ chief economist – CNBC
5/30 Housing bubble pathologies start to bite – the cycle has peaked – DC


5/28 Charles Schwab CEO recommends gold – Scott Carter
"The month of May is a "delivery month" for COMEX silver, and the total amount of "deliveries" has reached a level not seen since 2007. As you can see below, the total amount of "deliveries" for May has reached 7,157 contracts. This is the highest one-month total since December of 2007, and it represents a total "delivery" of nearly 36,000,000 ounces of "silver""
https://www.zerohedge.com/news/2018-...ver-deliveries

The developed markets are not buying gold. The R.O.W. is buying LOTS of gold.
https://news.goldcore.com/ie/wp-cont...ore.gif?x78236
There is almost no available gold at the COMEX.
https://www.youtube.com/watch?v=N_9vIkeIr8w
Here are the details on the long-running crash of the EU.
https://thistimeitisdifferent.com/eu...-decade-charts

"Those outside of Europe may be surprised to learn that Germany's exports are roughly equal to those of China ($1.2 trillion), even though Germany's population of 82 million is a mere 6% of China's 1.3 billion. Germany and China are the world's top exporters,"
https://www.zerohedge.com/news/2018-...re-both-doomed
Turkey is suddenly in deep do-do.
https://www.armstrongeconomics.com/i...tary-collapse/
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Old 05-31-2018, 02:38 PM
Danny B Danny B is offline
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Italy in the fast lane

The EU will blow and, it appears that Italy is the detonator. I've already mentioned that; centralized control brings centralized contagion. Here is a short article on contagion.
https://capitalistexploits.at/2018/0...ord-contagion/
The technocrats figured that they had the European tribes roped and bound, with no escape. Humans have a way of creating work-arounds. Here is one that is particularly terrifying,,, to the CBs
https://www.telegraph.co.uk/business...ndation-widget

Here is a good, short article about how, the technocrats have framed this as a battle. A battle against the Italians?? Is that the framework of the eurozone? NO WONDER the EU wanted to build an EU army. NOT for Russia. Nope, they wanted an army to thrash their own people into line.
https://www.telegraph.co.uk/business...ndation-widget

C.H. Smith wrote that all plans must have an escape valve. JFK wrote that "Those who make peaceful revolution impossible will make violent revolution inevitable."
The Technocrats designed the EU with no plan "B",,, NO way out.

5/31 Italy could be the next Greece — only much worse – CNBC
Yeah right,, 20-20 hindsight. The bankers loaned to Greece knowing that it was a deadbeat-borrower. They also knew that the EU did not have a common debt market. They had to have known that their loans would go bad. Did they loan to Greece hoping to take Greek land and assets in return for failed loans? Of course.

5/31 Brazil economy slammed as nationwide strike intensifies – ZH More capital flight.
5/31 For-sale signs vanish and March home prices jump 6.8 percent – MSN
5/31 Portland metro home prices up 6.7% in March – Oregon Live
5/31 Why are 1 in 4 Millennials still living with mom? Lack of affordable housing – CBS

Just wait until the hot money flows into food commodities too and, we can't afford food along with housing.
Great Britain imports many thousands of criminals, and, they commit crimes. The solution; get rid of pointy knives.
https://www.telegraph.co.uk/news/201...me-judge-says/
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Old 06-01-2018, 04:34 AM
Danny B Danny B is offline
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$7 trillion algos,,,Today, Spain,,,sovereign debt building up pressure

Cross post; Trump has been outmaneuvred by the swamp.
https://www.globalresearch.ca/who-ru...rica-2/5608802
Armstrong is very convincing in his claim that U.S. sovereign debt will collapse. We already know that private investors shun it. So, when the train wreck hits the U.S. Treasury, will the israel-firsters work to save America?

" In total, index funds represent $7 trillion of U.S. stock funds that have no active manager. All buying and selling are done automatically. Active management has gone out of fashion, Puplava noted, and as this sea change occurs, the market’s ability to price companies diminishes.

Ownership of stocks in the S&P 500 is concentrated with three companies; Vanguard, BlackRock, and State Street. They represent about 88 percent of the S&P 500, and if we include Schwab and Fidelity, over 90 percent of the S&P 500 is basically now in the hands of five companies. "
Liquidity Crisis Coming: Here, There, Everywhere « Financial Survival Network
So, what will the algos do when there is a big hiccup?

I have to emphasize SPEED. Yesterday, Italy was ready to blow. Today;
https://www.independent.co.uk/news/w...-a8377331.html
Rajoy was going to be Mr. tough guy,,, suck up to Brussels and, slap down Catalunia. Buena Suerte

"Seattle is in the list even before they impose this new outrageous tax of $275 per employee for companies that do more than $20 million in business annually. They claim it is for the homeless people"
"Once a government gets its hand on a tax, it is used wherever they need money and they never let it go. Like tolls on bridges and tunnels that were said to be there just to pay for the construction. The tunnels into NYC made so much money, the Port Authority then used it to build the World Trade Center. "
And MOSSAD knocked it down.
https://www.armstrongeconomics.com/w...-homeless-tax/

"I really understand that debt is money that pays interest. That is the real money supply which is leveraged. It is the interest that keeps expanding the debt and forcing taxes higher and higher until it can’t expand anymore. Is this the end game?"
Take a look at this graph and, find 1913
https://d33wjekvz3zs1a.cloudfront.ne...IntAsTotal.jpg
"Can you imagine that the debt of all nations is about to explode with the slightest uptick in interest rates?"
"The Quantitative Easing in Europe and Japan have destroyed their bond markets. The central banks buy everything. The Bank of Japan bragged how they bought 97% of the new debt. Hello! That means there is no market!"
https://www.armstrongeconomics.com/a...pays-interest/

Armstrong, " really do not know who makes up this nonsense. They clearly do not look at history nor do they understand human nature. We WILL crash and I hope the BURN then becomes possible where we get reasonable reform without the totalitarianism that is so common."
https://www.armstrongeconomics.com/w...ing-the-world/
Keep in mind that Armstrong himself is completely convinced of the crash. He mentions that the big funds don't want him well publicised. He mentions that you might want to pick up some canned goods,,, just in case that it does crash.

Interest rates go UP;
6/01 Loan repricings lead to market fatigue as deals pulled – Reuters
6/01 The bond market just figured out that central banks CANNOT exit – Market Oracle
6/01 “Shocked” Deutsche Bank sees its stock hit all-time low – Zero Hedge

Hey, this is the information age,,, word get around.
6/01 Italy shows why the euro has to be abandoned if Europe is to be saved – Lars P Syll
EFF Europe,,, viva, France, England, Scotland, Ireland, Espana, Portugal, Greece, Poland, Sweden, Danmark, Norway, Netherlands,,, and all the rest.
Germany and Belgium can get stuffed.

5/31 Global growth too dependent on cheap borrowing — OECD – Guardian
They should have figured that out $200 trillion in the past.

5/31 Italy’s Cottarelli opens door to possible eurosceptic government – Reuters
6/01 Socialist chief Pedro Sanchez set to become Spain’s Prime Minister – Reuters

Don't forget the new tariffs.
5/31 Trump slaps steel, aluminum tariffs on Canada, Mexico, EU – CNBC
5/31 Canada announces retaliatory tariffs – CNBC
6/01 Abe slams U.S. vehicle tariff hikes as ‘unacceptable’ – Japan Times
Trump wants to ban German cars from America - Roadshow - CNET

SPEED!
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Old 06-01-2018, 02:10 PM
Danny B Danny B is offline
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Deutsche bank,,, unemployment

Armstrong has all the info and details but, goes along with the party line that unemployment is 3.8%. Even the BLS admits that MANY millions are not in the labor force. I think that he is just playing it safe in public announcements.
https://www.armstrongeconomics.com/a...-up-the-world/
Here are the numbers from John Wiliams, Alternate Unemployment Charts

"Deutsche Bank has now been classified as a problem bank by FDIC "
"A merger of BNP with Deutsche Bank would mean Germany is subservient to France. That is not “politically” acceptable. "
"rom the very beginning when the committee in charge of creating the Euro came to our WEC in London, I warned that (1) there would be no single interest rate, and (2) without a debt-consolidation, the Euro would NEVER compete with the dollar and ultimately fail. "
"In the EU, because the debts were never consolidated, then the failure of one brings down the whole because each member state is RESERVE status."
https://www.armstrongeconomics.com/m...-problem-bank/
The Eurocrats engaged in wishful thinking and dismissed the warnings from Armstrong.
Here is an interesting article about; how much currency is in circulation AND, how much gold is needed to back currency in circulation.
https://www.goldmoney.com/research/g...efcode=dollarc
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Old 06-02-2018, 06:00 PM
Danny B Danny B is offline
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Oil, Italy & Turkey

The big institutional investors can not afford to engage in wishful thinking and wilful blindness. There is plenty of that to go around.
6/01 US payrolls rise 223,000, jobless rate matches historic low – Bloomberg
6/01 Record 95.9 million Americans no longer in labor force – ZH
6/01 US 10-year yield jumps back above 2.9% after better-than-expected jobs data – CNBC

6/02 The US economy suddenly looks like it’s unstoppable – CNBC
6/02 Japan’s fiscal discipline wavers as ageing pressure mounts – Bloomberg
Japan never had one iota of fiscal discipline.
6/02 Fed rate hikes always create ‘a meaningful crisis somewhere’ – MW
Yes, and contagion follows.

6/02 Deutsche Bank downgraded by S&P over restructuring plans – MarketWatch They can't possibly restructure without fresh money. Word gets around.
6/02 “Bank of Mum and Dad,” huge prop under UK housing bubble, is out of liquidity – WS
6/02 ‘Something has to give’: Italians back euro but rail against EU’s rules – Guardian
6/02 Juncker: Italians need to work harder and be less corrupt – Guardian

Last week, a technocrat threatened to teach Italy not to ever elect a populist GOV in the future. Junker is trying to up the ante.

OIL;
“the depletion that has to be replaced is about 8% of total supply, which comes out to approximately 8 million barrels a day per year. Most of this has been made up by pre-2014 drilling but in the next four years will fall short very considerably as drilling has collapsed 50%.”
"To add to this, Societe Generale has forecast that US sanctions might remove as much as 500,000 barrels a day of Iranian crude from the global market."
"The US is in a relatively comfortable position. US oil production has reached 10.7 million barrels per day – enough for domestic needs. And shale oil production is expected to rise to a record 7.18 million barrels a day next month, according to the US Energy Information Administration."
YES, all pumped at a loss financed by hot money from the junk-bond market,,,, that investors are abandoning.

"The EU – at least rhetorically – now wants to pay for Iranian oil in euros. Add to it the Trump administration’s ultimatum to Chancellor Merkel: give up the Nord Stream II gas pipeline from Russia or we will slap you with extra tariffs on steel and aluminum "
Yep, strangle Russia or, we will slap you down.
"Meanwhile, in the Persian Gulf, it’s no secret among traders that sooner or later it must be factored in that Iran, in the eventuality of a US attack, “has the power to bring down Western economies by destroying 20% of the oil production in the Middle East. And Russia has that power too. Russia is largely self-sufficient for its needs. It can win this as an economic battle rather than a military one”."

"The US seems to be extending the proverbial “offer you can’t refuse” to the EU; an elusive, assured delivery of LNG in the (unlikely) event of a cutoff of Russian natural gas to the European Union.

First of all, Gazprom has no intention to ditch its extremely lucrative European market. Moreover, this supposed American LNG capacity “does not exist as yet in the United States"
"In Brussels, there’s increased recognition that US pressure on Iran, Russia and China is out of geopolitical fear the entire Eurasian land mass, organized as a super-trading bloc via the Belt and Road Initiative (BRI), the Eurasia Economic Union (EAEU), the Shanghai Cooperation Organization (SCO), the Asia Infrastructure Investment Bank (AIIB), is slipping away from Washington’s influence."

"It’s also no secret among Persian Gulf traders that in the – hopefully unlikely – event of a US-Saudi-Israeli war in Southwest Asia against Iran, a real scenario war-gamed by the Pentagon would be “the destruction of oil wells in the GCC [Gulf Cooperation Council]. The Strait of Hormuz does not have to be blocked as destroying the oil wells would be far more effective.”

And what the potential loss of over 20% of the world’s oil supply would mean is terrifying; the implosion, with unforeseen consequences, of the quadrillion derivatives pyramid, and consequentially of the entire Western financial casino superstructure."
Bibi isn't worried.
Oil and gas geopolitics: no shelter from the storm | Asia Times
Pox Americana is great at stealing and destroying. It isn't good at building and trading.
"The US Supreme Court Chief Justice Warren E. Burger once said: “We may well be on our way to a society overrun by hordes of lawyers, hungry as locusts, and brigades of judges in numbers never before contemplated.” These words seem to be very much on point in Europe."
Good article.
https://www.armstrongeconomics.com/i...rman-internet/

(Erdogan) He has reportedly already claimed that the US and Israel are waging an economic war on Turkey. And for once he may be right. A few weeks ago Erdogan called on all member states of the Organisation of Islamic Cooperation to boycott all Israeli products.
"On May 1, Standard & Poor’s downgraded the Turkish economy to double-B-minus. Economic war? Feels a bit more like a political war."

"Italy, like an increasing number of Eurozone nations, is looking for a way to get its head out of the Brussels/Berlin noose that’s threatening to suffocate it. If the EU doesn’t react to this, and soon, and in a positive manner it will blow itself up. Yes, if Italy started to let its debt balloon, the European Commission could reprimand it and issue fines. But the Commission wouldn’t dare do that. This is Italy. This is not Sparta."
https://www.theautomaticearth.com/20...is-not-sparta/
6/02 Turkish stocks, lira tumble on capital control rumors – Zero Hedge
Yep, how to destroy an economy without spending a dime.

" Argentina spent the last 3 years borrowing an enormous amount of money; it has defaulted on its international debt 7 times since its independence in 1816; and spent most of the last decade in investment purgatory"
"Like Bangladesh and Zimbabwe, Argentina lies at the outer edge of this known universe, far from other EM countries like China, Peru, Indonesia and Mexico and Vietnam, and lightyears away from the developed world. Only in a world of financial repression by central banks could a country like this issue an oversubscribed 100-year bond."
https://www.zerohedge.com/news/2018-...jpmorgan-chart
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Old 06-04-2018, 03:12 AM
Danny B Danny B is offline
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Conundrums,,,tariffs,,,Deutsche bank flameout,,,, EMs

Conundrums;
The upper loop people must keep the lower loop people working and, in debt. This is easily accomplished by manipulation of the currency and credit. If we stopped working, everything would come to a stop. At the same time, millions of workers are being squeezed out by automation and outsourcing. It is easy for the PTB to keep us poor but, it is very difficult to keep us working. It is even more difficult to keep us consuming. The banks have extended $trillions in credit that they know we can't pay back.

There is no possibility of getting off the credit merry-go-round. Since the public cut back on the use of credit, the State has to take up the slack.
We have a falling population and a falling energy consumption. There is no possibility that the public sector is going to revive the economy by increased spending. Here is a good comment.

The way I see it, the US has a "double edged sword" kind of problem.

1.) We need higher prices (inflation) to pay the debt monster and continue growing the debt monster (expansion).

2.) The consumer cannot survive higher prices on anything important like food and energy....where they have no choice.

They are trying to thread the needle between inflation and debt expansion. They need debt to ever grow but that will require higher prices. Until the greedy basterds start paying people some decent money, they can't afford higher prices. If you aren't making $20 an hour, then you are in survival mode. Even then you need someone paying a large portion of your healthcare insurance cost.

I live in oil country and $85-$100 a barrel would be great for us, but it would kill the rest of the country. Look at what is going on in Brazil right now. A clear example of reaching a breaking point. It is going to kill them.

Making up job numbers or creative earnings reports aren't going to cut it forever. It has lasted way longer than I thought it would and may go on a while longer, but it is growing clearer and clearer to more and more people that this can't go on forever......yet no one is changing anything.

Oil may be the tip of the spear. The problem is not supply but COST. Every year we not only use 34.7 billion barrels of oil but we need to keep the cost down to a level that the "consumer" can afford it. Getting that much oil and keeping the price low is getting harder and harder. The rest of the world wants some of that "cheap" oil too.

The dollar's lead pipe cinch on the oil market is being challenged. That will lead to higher prices for Americans. That is going to lead to economic "adjustments" for the US. The problem is the religion of MOAR. Everyone has to have MOAR. Moar money, moar interest, moar benefits, moar stuff.......moar, moar, moar,.....every quarter, every year. That is simply not sustainable.


Africa, "Bear in mind that we began to warn of China's growing 'colonization' of Africa back in 2010, noted China's increasing militarization of Africa in 2015, and recent warnings from US Generals that China and US are "on a collision course in Africa,"
Africa wants to drop the dollar in favor of the Yuan.
https://www.zerohedge.com/news/2018-...e-chinese-yuan

China says that tariffs will make them abandon all trade treaties.
China warns all trade deals are 'void' if US imposes tariffs, other trade measures - ABC News (Australian Broadcasting Corporation)
India abolished 500 and 1,000 Rupee notes in an effort to get more control and more taxes. It is apparently not working.
Cashless society in India: Demonetisation gives way to chaos

Deutsches Bank is following the same financial path as Lehman Bros. and Bear Stearns. Worth a read.
Weekend Reading: Just A Pause That Refreshes? | RIA
The specter of a bail-in will send investors running pretty soon.

Here is a long comprehensive pdf that lays out a LOT of information.
https://ftalphaville-cdn.ft.com/wp-c...t-Storm-LR.pdf
It is in 5 parts.
"The economy is a surplus energy equation, not a monetary one, and growth in output(and in the global population) since the Industrial Revolution has resulted from the harnessing of ever-greater quantities of energy. But the critical relationship between energy production and the energy cost of extraction is now deteriorating so rapidly that
the economy as we have known it for more than two centuries is beginning to unravel"

Emerging Markets Index
https://i0.wp.com/www.dollarcollapse...00%2C490&ssl=1

EM bond index,
https://i2.wp.com/www.dollarcollapse...00%2C504&ssl=1
The EM currencies are falling and, this makes it much more difficult to service dollar-denominated debt.
https://i2.wp.com/www.dollarcollapse...00%2C579&ssl=1
https://www.dollarcollapse.com/emerg...et-chaos-four/
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Old 06-04-2018, 03:06 PM
Danny B Danny B is offline
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Spain, N.J. ,Merkel,,, Dis-solution of Europe

Armstrong can be "thick" when he wants to be. In this article, he claims that capital flows are holding up the world, NOT Central banks. Who does he think created all the hot money capital flows? Who is buying up all the bonds and some of the stocks? The BOJ admits to owning 70% of ETFs.
https://www.armstrongeconomics.com/w...up-us-economy/
The European technocrats created a fascist control structure. The backlash has violently pushed socialists to the forefront. Spain is a perfect example where Sanchez has blown everybody else out of the water. Rajoy is getting his just rewards for attacking Catalunia.
https://www.thespainreport.com/artic...ez-stuns-spain

Merkel shoved her stupid programs down the throats of the German people. The backlash there is hopefully going to crush her AND her insane programs.
https://www.armstrongeconomics.com/i...risis-in-2019/
Yanis Varoufakis predicted that the actions of the ECB would precipitate a crisis that would bring right-wing parties to power.
Additionally, ;
"The Communist Manifesto foresaw the predatory and polarised global capitalism of the 21st century. But Marx and Engels also showed us that we have the power to create a better world. By Yanis Varoufakis"
https://www.theguardian.com/news/201...nist-manifesto

6/04 Anti-immigrant party wins Slovenia as populist wave washes over Europe – ZH
This is the backlash to the Kalergi Plan.
The Coudenhove-Kalergi plan - The genocide of the Peoples of Europe | Western Spring
The revolt against the destruction of the European tribes is shifting into high gear.
https://www.express.co.uk/news/world...usz-Morawiecki

New Jersey is famous for it's corruption. BUT, corruption costs LOTS of money.
https://www.zerohedge.com/news/2018-...ncial-disaster
6/04 In Vancouver, a housing bubble even owners want to end – NYT
Hot Chinese money
6/01 Housing bubble pathologies start to bite – the cycle has peaked – DC

6/04 JP Morgan stunner: Italian exit may be Rome’s best option – ZH
6/04 Italy’s euroskeptics and their currency ideas take center-stage – Reuters

Keep in mind that new ideas are taking hold in record time. Any kind of currency change-over must be done SLOWLY.
6/04 Germany’s Angela Merkel rules out debt relief for Italy – CNBC
Yeah, right. Deutsche bank is going to need a rescue long before Italy goes critical.
When Italy goes critical, the Bundesbank will be a giant crater.

6/03 Europe is on the verge of a big new crisis, just six years after the last one – CNN
6/03 Falling Deutsche Bank shares reignite ‘black swan’ worries – MarketWatch

Buy more popcorn.
6/04 Trade talks with China end in impasse and threats – Mish
6/04 U.S. weighs more South China Sea patrols to confront ‘new reality’ of China – Reuters
6/04 As US confronts China on trade, Taiwan tensions quietly build – Bloomberg

Taiwan is just a pawn, not even a knight.
6/04 Clapper: US meddled in foreign elections and conducted regime change – ZH
I'm shocked, I tell you,,, shocked.
ALL of this will create capital flight.
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Old 06-05-2018, 03:47 AM
Danny B Danny B is offline
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Yanis, European banks,,,eternal chckbook,,EROEI

Yanis Varoufakis, " warned my interlocutors at a Eurogroup meeting of eurozone finance ministers:

“If you insist on policies that condemn whole populations to a combination of permanent stagnation and humiliation, you will soon have to deal not with Europeanist leftists like us but, instead, with anti-Europeanist xenophobes who see it as their vocation to disintegrate the European Union.”
"That is precisely what is happening now. Having vetoed much-needed EU reforms, Merkel’s successive governments guaranteed Europe’s fragmentation. Germany’s establishment media are now referring to the Italian economist whose appointment as finance minister was vetoed by the president as “Italy’s Varoufakis.”
This room full of finance ministers bristled and said that; they would not be lectured like ignorant school children. They refused to even further listen to him.

"Europe’s inability to get its own house in order has engendered a new Italian majority that is planning to expel a half-million migrants, blowing fresh winds into the sails of militant racists in Hungary, Poland, France, Britain, the Netherlands, and, of course, Germany itself."
Racists, my a$$. They are trying to survive an invasion by garbage.

The population pressures in Africa are a result of COMPLETELY unrestrained reproduction.
Side note; An Irishman's Insight On Africa - Important Read

Moving on, “My philosophy is that all foreigners are out to screw us, and it’s our job to screw them first.” Thus argued John Connally, then-US Secretary of the Treasury, in 1971"
"That was Paul Volcker, then the president of the New York Federal Reserve, referring to Nixon’s decision in a speech seven years later. The future Chair of the US Federal Reserve further declared that a “controlled disintegration in the world economy …[was] a legitimate objective for the 1980s.”
"What distinguishes today’s situation from the one Europe faced in the 1970s is the Weimar-like implosion of Europe’s political center."
"The US announcement of tariffs on steel and aluminum imports, while ostensibly aimed at China, was also the latest signal to Europe that the Trump administration’s “America First” rhetoric must be taken seriously."
"Just as it is Trump’s aim to overturn the global system from which Germany has benefited for decades, Salvini and di Maio see the disintegration of the euro as a welcome development and a boon to their anti-immigration campaign. "
The Euro Zone construct is a scheme to employ as many paper-pushers as possible. This is a socialist device to employ as many people as possible working for the government. At the same time, the overlay of the all-powerful unelected technocrats is a fascist control structure
https://www.project-syndicate.org/co...ufakis-2018-05
Varoufakis is BRILLIANT. I heartily disagree with him on just a few topics.

The deep State seems to have misplaced $21 trillion. You (we) can only do that by kiting checks. Since all money is electronic, it's all stored in a bank somewhere. EVERYBODY can just keep writing checks and it will always end up in a bank. Nobody really knows how much of what is in a given bank.
The U.S. GOV spends 24% of the gdp. Armstrong claims 36%. How would one ever know? Nobody is buying U.S. sovereign debt. How does it all keep going?
Years ago, the U.S. comptroller-general, David Walker refused to certify the U.S. GOV books. They have never been certified for a long time. U.S. GOV claims that the BLICS and "other" are buying U.S. debt. I believe that this is just for show. GOV just keeps writing checks and, nobody is the wiser.

"Fully 75% of federal spending is economically non-productive including military, debt service, social security. Unlike during the 1930s Great Depression when levels of Federal debt were almost nil, today the debt is 105% of GDP and rising. Spending on national economic infrastructure including the Tennessee Valley Authority and a network of federally-build dams and other infrastructure resulted in the great economic boom of the 1950s. Spending $1.5 trillion on a dysfunctional F-35 all-purpose fighter jet program won’t do it."
"The Moody’s report goes on to state some alarming numbers: since 2009, the level of global non-financial junk-rated companies has soared by 58%, representing $3.7 trillion in outstanding debt, the highest ever. Some 40%, or $2 trillion, are rated B1 or lower. "
https://www.globalresearch.ca/americ...spiral/5642744

Vid titles;

Hundreds Of European Banks Are In Trouble, This Is Going To Be A Disaster - Episode 1434a

Is Deutsche Bank About To CRASH? - Bank Lays Off 10,000 Employees!

White House Knows this" The next EU Crisis – is the Italian Banks"

European Banks Are In Trouble, It Will Spread Like A Disease - Episode 1574a

MARTIN ARMSTRONG - The Next Great Economic Collapse Will Begin by the Collapse of European Banks

CRISIS IN TURKEY AFFECTS EUROPEAN BANKS

Eurocrash! - Investors Flee European Banks
-------------------------------------------------------------------------------
My advice to anyone in Europe is; look what happened to Greece and Cyprus. If you don't have much saved, keep it in Euro cash or U.S. dollars. If you have a lot of money, the dollar will crash last but, the Russian stock market has very good returns. If the R.O.W. is going back to a gold standard for bonds, it would be smart to hold gold. It is expected to go down under $1,000 U.S. and, shake out the weak hands.
-------------------------------------------------------------------------------
"Moody’s Credit Rating has just issued a warning that, barring some sort of miracle, as US interest rates rise, and they are, as much as 22% of US corporations that are being kept alive borrowing at historically low interest, not only in shale oil",,,,,
Corn ethanol is a losing proposition from an energy standpoint.
Shale oil is a losing proposition from a financial viewpoint.
Both are losers based on EROEI.
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Old 06-05-2018, 02:47 PM
Danny B Danny B is offline
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Jim Willie,,, Italian fallout and contagion

Jim Willie has written for quite a while about a global currency reset. He has written that Pox Americana has vigorously resisted that reset. Making a guess about that, I reckon that New York and London bankers have underwritten U.S. debt to keep the Pox Americana war machine operating until it ultimately slaps down "This is a memo that describes how we're going to take out seven countries in five years, starting with Iraq, and then Syria, Lebanon, Libya, Somalia, Sudan and, finishing off, Iran." Wesley Clark
Pox Americana is still a few countries short of the list. The Pentagon reports that it can't account for $21 trillion. It would appear that Pox Americana is kiting checks and the big banking centers are covering for it. Israel expects to eventually go to war with it's neighbors.
That would be; Gaza, Lebanon / Hezbollah and, Iran. It does NOT want to fight a war on 3 fronts. The plan WAS to weaken Iran and Hezbollah.
The opposite has happened. Israel may weaken Gaza but, that only strengthens Hezbollah.
How much longer will the banking centers honor $trillions in U.S. unfunded spending waiting for Lebanon and Iran to be destroyed?

Jim Willie and notes on European banks.
"GET READY FOR THE SIMULTANEOUS BANKING CRISIS IN THE THREE BIGGEST EUROPEAN ECONOMIES: GERMANY, FRANCE, ITALY. The United States and the London Centre will not be able to avoid the crisis.
The largest bank in Europe is Deutsche Bank. Its credit default swap is rising in cost, while its stock price has entered single digits in a powerful decline. The great D-Bank, site of the European office in management of the multi-$trillion derivatives, is on the verge of financial failure. It is the largest bank in all of Europe. All of its business segments are impaired and losing money in a hemorrhage. Furthermore, it is a big bond holder for Italian Govt Bonds. The Italian banking system is in the death throes, which has finally been recognized.

However, the bigger bond holder for Italian debt is France. Expect a massive bank crisis to emerge very soon that wrecks Societe General and BNP Paribas, its two largest banks.
Back in 2016, the Hat Trick Letter warned of very high Non-Performing Loans among the Italian banks.
Jim is always early and people tend to ignore a warning for a situation that they just can not perceive.
It was this CDSwap rising rate which warned at least three months in advance of the Lehman Brothers failure (killjob by JPM and GSax). But the contagion for the Italian banking failure is the main point. Notice that back two years ago, the French big banks had triple the size of exposure to Italian debt, versus the German banks. The Spanish and US banks will also suffer from the impact.
The inside people know what is going on. You see the results in the cost of CDSwap. A bit later, you see LIBOR get blown out.

"The Global Currency RESET has begun, hardly with fanfare and parades, or even formal public statements by the main players. Many are the events and steps toward the planning and execution of the RESET, which will be very disruptive, and make the Lehman failure seem rather minor by comparison.
The Jackass has been preaching for several years that the QE monetary policy has saved the big banks, or at least through bolstered official liquidity having bought them some time. But the consequence has been to render severe damage to the tangible economies. QE has essentially killed the economies. The feedback loop has struck the banks

"Therefore, the true inflation adjusted GDP has been minus 2% to minus 4% every year since before the Lehman failure.
The entire Belt & Road Initiative forms a massive $6 to $8 trillion conference table of projects, mostly construction, all in the Eastern Hemisphere,
WAIT,,, what about money for wars?
"My suspicion is that Turkey might soon play a role with it, in conversion of sovereign subprime (toxic) bonds like the USTreasurys and EuroBonds. Keep in mind that Italian Govt Bonds deserve a 10% yield, like the Greek Govt Bonds, except that the Euro Central Bank has been subsidizing these toxic (in)securities."
Turkey is going to need to pull a HUGE rabbit out of a hat pretty soon.
"During the Systemic Lehman Event, otherwise called the bust of the Everything Bond Bubble (from QE squared), some sovereign bonds will be defaulted upon, with painful consequences from the failures. During the upcoming bust, certain entire national banking systems will collapse."
Armstrong broadly hints at this but, doesn't want to be accused of starting contagion.

"Bear in mind the gigantic Egyptian gold investor, where something like 50% of his wealth was invested in gold bullion metal. The shrewd investors expect only PM to survive the big burn that comes, and not much else"
The source is not certain how much longer the suppression of price and news can be maintained. It surely will not last another year, more like at most several months. Events are picking up in accelerated speed
NO kidding
Upon further reflection, the Jackass believes a widespread shutdown of principal globalist cabal banks might occur, which would alter the entire global financial framework, and unleash the gold demand.
Two Key Events Will Unleash Gold

Jim, "topics covered include the growing US isolation from failed foreign policy, the defiant disobedient reaction by European Union with respect to Russian sanctions and renewed Iran sanctions"

So, the banking detonator seems to be Italian debt. Here is a good article for understanding that particular problem.
https://www.project-syndicate.org/co...inhart-2018-05
Once again, you may not care one bit about Italian debt. BUT, it is the contagion that you should care about.
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Old 06-06-2018, 03:34 AM
Danny B Danny B is offline
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Flashmob, European capital flight,,, dollar attack

Armstrong, "As the low-interest rates have undermined pensions throughout Europe, the governments will have to step up and bail them out.
The low-interest rate policy for nearly 10 years has not merely destroyed the bond market in Europe, it has undermined the pension system both privately and publicly. Indeed, adding to this crisis is the mandate that all pension funds hold some or the majority of their investments into government debt.
Furthermore, as this pension crisis matures, we will have the same problem of transfer payments. This is how and why the EU will break apart because there is no actual resolution to consolidate the debts.
https://www.armstrongeconomics.com/i...reakup-the-eu/

"Our models based upon reliable source flow data is currently showing that the Eurozone is the NUMBER ONE place in the world with the greatest amount of capital fleeing than any other region worldwide. "
"The internal flight is to the British pound which is starting to shift from even Germany. "
https://www.armstrongeconomics.com/i...world-economy/

"Just to Clarify, we are also picking up Capital Inflows from the EU moving into Scandinavia – Denmark, Sweeden & Norway. We also see money moving into Poland and Hungary "
Poland and Hungary are rejecting the immigrant invasion.
"What has become increasingly apparent is the mere fact that confidence among SERIOUS money is starting to realize the EU is a failure."
The Norwegian wealth fund has over US$1 trillion in assets, including 1.3% of global stocks and shares.
What happens when a fund like that starts to move money?
"Centralized control was the downfall of Russia and China under a communist state system."
https://www.armstrongeconomics.com/i...oland-hungary/

Add to that; the Euro is under attack by the dollar hegemon.
"don't blame the Fed's rate hike cycle. Instead blame the "double whammy" of the Fed's shrinking balance sheet coupled with the dollar draining surge in debt issuance by the US Treasury."
Treasury debt can only be bought with dollars. The more debt that is issued, the more dollars go OUT of circulation.
"this episode cannot be attributed to the US Federal Reserve’s moves on interest rates, which have been rising steadily since December 2016 in a calibrated manner." But does that mean that the Fed is not to blame for what increasingly looks like another budding EM crisis? Not at all: according to Patel, the dollar funding shortage "upheaval" stems from what he sees as the confluence of two significant events of which the Fed’s balance sheet reduction is one, while the second is the dramatic increase in US Treasury issuance to pay for Trump's tax cuts; what is notable is that both events are drastically soaking up dollar liquidity."

"As a result, Patel blames a lack a coordination between the Fed and Treasury on the adverse flow through across global funding markets"
Yeah right. This is fully coordinated..
"given the rapid rise in the size of the US deficit, the Fed must respond by slowing plans to shrink its balance sheet. If it does not, Treasuries will absorb such a large share of dollar liquidity that a crisis in the rest of the dollar bond markets is inevitable."
"And in a curious coincidence, the withdrawal of dollar funding by the Fed in monthly terms, as it reduces its reinvestment of income received, is proceeding at roughly the same pace as that of net issuance of debt by the US government."
Keep in mind that the R.O.W. is trying to break away from the dollar. As America cuts off dollar funding, this crashes all other markets. This is a battle of attrition, nothing less.
"Both are terrible news for Emerging Markets, which are in desperate need of reversing the ongoing dollar outflows;"

"As Patel further explains, this unintended coincidence has proved to be a “double whammy” for global markets, and especially emerging markets, largely as a consequence of one key event: the evaporation of dollar funding, not only from sovereign debt markets but in short-term funding markets as well"
Right, coincidence.
"This has manifested in a sharp reversal of foreign capital flows out of Emerging Markets over the past six weeks, often exceeding $5bn a week, resulting in a sharp drop in emerging market bonds, stocks and currencies."
"And here, for the first time this tightening cycle, a prominent foreign central banker has accused the Fed of stirring trouble for emerging markets"
"but in that case Powell risks a broader contagion, first in EMs and then everywhere else. "
Yup, the plan is for the dollar to be the last man standing.
"already reputable foreign central bankers are demanding the Fed stop the pain. "
"One can only imagine the chaos and turmoil in EMs (and then DMs) in four months time,"
https://www.zerohedge.com/news/2018-...global-turmoil

The crash is coming and, the East plans to anchor the bond market to gold. Pox Americana is trying to suck up all the capital to try to survive. NOBODY wants the SDR. Armstrong assures us that all sovereign debt will collapse. The Achilles heel is OIL. America will attract a lot of fleeing capital but, it isn't going to the junk bond markets. That market was the only thing that kept fracking oil flowing. Also, it isn't going to the sovereign bond market.
Pox Americana rattles sabers all along Russia's western front. Also, in the South China Sea and North Korea. Putin is showing a LOT of restraint. America has killed quite a few Russian soldiers. Bolton is a blithering idiot, along with being a war hawk. The Wolfowitz doctrine calls for the destruction of Lebanon and Iran. Has he actually given any thought of what would happen if 20% of the oil supply were cut off?
Europe is pulling away from the American war hawks. There is a segment that wants the collapse as soon as possible.
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Old 06-06-2018, 03:58 AM
Danny B Danny B is offline
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Headlines

Carmen Reinhart is as smart as they come. Here, she writes about Italian debt.
https://www.project-syndicate.org/co...inhart-2018-05

6/05 Job openings reach record high in April – MarketWatch Probably true. The skills-gap is getting worse and worse.
6/05 The next wreck in junk bonds will be bigger, longer and uglier – MarketWatch
Ugly won't be the word for it,,, especially when it takes out the oil industry.
6/05 Yield curve’s return to flattest levels in decade raises questions – MW
It has always been a crash predictor.
6/05 US firms to pour $2.5 triln into buybacks, dividends and M&A this year – CNBC
Yep, not a penny to go into R&D nor wage increases, nor CAPEX.

6/05 30,000 six-figure Illinois educators cost taxpayers $3.7 billion – Forbes
Educators, my a$$. I bet that not one of them is a teacher,,,, administrators, ALL.
6/05 Shock moves engulf all-or-nothing markets – Bloomberg
There is going to be a lot of NOTHING in the future.
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Old 06-07-2018, 06:09 PM
Danny B Danny B is offline
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Italian conflagration,,, headlines

Armstrong; Liquidity has collapsed and, the banks are trying to change the rules to squeeze out a few more bucks.
https://www.armstrongeconomics.com/w...trading-again/
"Civilization expands when the climate warms, and it contracts when it gets cold. This is also why Kim Jong-Un of North Korea used missiles to force the West to accept his country back into the world fold. Why? North Korea lost more than 2 million people when the crops failed in 1995/1996. The summer of 2017 saw a dramatic decline in crop production in North Korea, down by some 30%. They are headed to another cycle of cold and starvation. His father’s policies of feeding the army first has created a 1 million man army with nothing to do. People joined the army just to eat."

"We are looking at a sharp rise in food prices in the years ahead."
"So stockpile food as we enter this period of rising prices. There will be shortages in the years ahead."
https://www.armstrongeconomics.com/m...for-the-cycle/
He is getting a bit more strident in his warnings about food.

"There is much hope buzzing around in Europe that Draghi is planning on ending Quantitative Easing. This is giving the Euro a bit of a lift in hopes that higher interest rates will stem to drastic capital outflows from Europe that resemble rats fleeing a sinking ship. "
The ONLY thing that keeps the European bond market for blowing to smithereens is,; the fresh capital injections.

"The new Italian Prime Minister Giuseppe Conte said Wednesday that he wanted to organize the cooperative banking sector differently than the previous governments. His plan will most likely meet with considerable resistance from the financial sector and most likely Brussels. He seems to be toying with the idea that he wants to separate the banks as Glass-Steagall did during the aftermath of the Great Depression. He wants the future investment banks to be separated from retail banks."
Good idea but, too late.
https://www.armstrongeconomics.com/i...for-qe-to-end/


6/07 The ECB is about to take a key step toward an easy-money exit – CNBC
Not in your lifetime.
6/07 Italy’s PM takes aim at migrants and austerity in maiden speech – Guardian
6/07 Betting on crisis, hedge funds short Italian bonds – NYT
6/07 The next economic crisis begins in the European Union – Lombardi
No kidding!!
6/07 Trump sticks with hard line on trade as showdown looms at G7 – Reuters
6/07 EU plans to hit U.S. imports with duties from July – Reuters

This is the new "take no prisoners" economic plan.
6/07 India’s surprise rate hike may lead to next emerging market crisis – Zero Hedge
Every little bit helps.

6/07 Czech PM rejects Merkel’s “flexible” EU immigration plan – ZH
A bullet in the head would have more direct results. How many millions of lives has she destroyed?
6/07 What the ‘doomsday Brexit Plan’ document says should frighten us all – TruePublica
6/07 UK houses prices have soared 100-fold since 1966 – City AM
6/06
U.S. house prices to rise at twice the speed of inflation and pay – Reuters

Yep, the bankers have priced most people out of housing.

6/07 Swiss govt pension fund to buy gold bars worth €600 million – Goldcore
"Why Are the US's "Enemies" Buying Up All the World's Gold?
Page not found – Casey Research
It's virtually impossible to get physical gold in London - BullionStar
Comex Leverage Now 300 Times Greater Than Available Physical Gold!
Switzerland is the gold hub of the world but, I doubt that they can just buy €600 million.
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  #2812  
Old 06-09-2018, 02:34 AM
Danny B Danny B is offline
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Full on attack at all dollar competitors

Nobody really wants U.S. sovereign debt. A few years ago, the Treasury claimed that; Belgium, Luxembourg, Iceland, Cayman Islands Were buying it. Never mind that Belgium had no dollars to buy Treasury bonds any way. We haven't heard much from the BLICs lately. More recently, Treasury claims that American households are buying Treasury notes. NOT banks or investment funds. This is highly unlikely. The current admin is borrowing about $1.5 billion a day. Reportedly All this borrowing is sucking dollar liquidity out of the economy.
The FED is shrinking it's balance sheet which causes a shrinkage of funds in the upper loop of the economy.

The BOJ does not allow just anybody to create Yen-loans. The FED allows banks, States and all manner of entities to create dollar-denominated debt. Since the dollar had the highest rate of saturation and confidence, everybody created dollar denominated debt.
Since the dollar was the most stable currency, it generated the lowest interest rate and, everybody tied everything to the dollar.

Now, the FED and Treasury are reportedly sucking up all dollar liquidity. They claim that the bid-to-cover ratio is very high. I find that hard to believe if American households are supposedly doing most of the buying. We are CURRENTLY in a liquidity crisis. I suspect that the ESF is doing all the buying from the primary dealers. There is no way to tell.

We are in a liquidity crisis for whatever reason. There is a huge shortage of dollars that is leaving dollar-denominated debt in a very bad position.
6/08 Indonesia joins India in begging Fed to stop shrinking balance sheet – ZH
Make no mistake. The currency war has gone up a notch,, MAYBE TWO.
We used to have a G-8. Somebody kicked out Russia in an obvious effort to isolate them. Trump is kicking the war on the Euro into high gear.
6/08 G-7 may not survive as Macron, Trudeau attack Trump – MarketWatch
Can't forget Latin America.
6/06 US fingerprints all over Nicaragua’s bloody civil unrest – SHTFPlan

Populism is anathema to bankers. It cuts down on the pillage. Greece is a good example of a nation that was badly pillaged by Wolfgang Schäuble and Merkel. Schäuble is a member of the Christian Democrats. Merkel is a Marxist who attended Karl Marx university and, joined the young communists. Can't let religion or ideology get in the way of profits.
There have been huge demonstrations against the FED by Germans. The Bundesbank REALLY hates populism. This is a take-no-prisoners war and America is working to promote populism in Germany.
The Germans are understandably quite pissed off.
https://theintercept.com/2018/06/04/...ts-take-power/

Raise the dollar by attacking the Euro.
Deutshe bank has about $45 trillion in derivatives. If all counter-parties paid up, they would net out to just $3--4 trillion. Credit-default swaps at Deutsche bank are about the same price as CDS for Italian banks.
https://www.bloomberg.com/news/artic...l-month-begins
Yanis Varoufakis was the economic minister in Greece when Germany attacked. He told EVERYBODY that; if the ECB went on attack in Europe, the far-right would rise up everywhere.
"Welcome to Euro Disney. The result is that Old Glue Factory, the US dark horse, is back in the race to the top of the heap, thanks to Italy. The gradual move in the US toward a bond bust got a quick reprieve when euro trash became US treasuries. So, Old Glue Factory bolts ahead in the backstretch."

Italy is too big to ignore. They want the ECB to write down 250 Euro of Italian debt. The ECB has bought €340bn-worth of Italian bonds. Those damn Italian populists have also told NATO to shove it
https://www.rt.com/news/429060-italy...sia-sanctions/
"The euro crashed BECAUSE there is no such prevention of a contagion. That is totally FALSE and a made up excuse. Fears of the new Italian government of the five-star movement and the right-wing populist Lega came into the markets and sent the euro crashing. A risk of contagion sparked by Italy infecting the entire Eurozone "
"I’ve enclosed an article regarding Irish pension money in Italian bonds. This is very very scary if true and we really are heading for a disaster from which a little country like ours won’t recover "
https://www.armstrongeconomics.com/w...italian-bonds/

I can't leave out France. Societe Generale is the biggest bank in France. Pox Americana is fining them for something that has nothing to do with America.
https://www.courthousenews.com/frenc...ibes-in-libya/
The U.N says that migration is both good and normal.
https://www.zerohedge.com/news/2018-...ions-un-secgen
The EU forced a lot of bad policy on the Europeans figuring that there was nothing that they could do about it. Varoufakis warned them about the rise in populism. The center figured that they could always maintain control. In Italy, the Left joined with the Right because they valued nationalism and survival above ideology.

China is trying to unify the East into an economic bloc to resist the control of Pox Americana. Naturally, Pox Americana is attacking China and the East to stop this union. Keep in mind that; if China defaults, the West can't expect to make collections with the military.
For now, the East has growing debt and currency problems.
https://sputniknews.com/asia/2018060...ength-economy/
6/08 U.S. unilateralism invites world to seek alternative to dollar – GATA

6/08 Fed to raise rates regardless of emerging market woes – Bloomberg
The FED will crash domestic markets by lifting rates. At the same time, it will attract foreign capital inflows with it's better interest rates. It appears that the FED prefers to crash Europe and the Emerging markets even if it brings down domestic markets. China probably has the liquidity to carry along the East. Russia is doubling their gold production. Between them, the can probably keep commerce going.

6/08 Beijing is the real junkie in the high-yield debt muddle – WaPo
6/08 Fear the China debt crisis nobody is talking about – Bloomberg


Yeah, right,,, WAPO and Bloomberg.
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Old 06-09-2018, 09:32 PM
Danny B Danny B is offline
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Austrian deja vu

Here is a graph of the stock market from 1925 to 1955. The financial system allowed TOO MUCH margin debt. You can see the spike at 1929. If you take out that spike, the market was not all that bad.
https://images.duckduckgo.com/iu/?u=...age018.jpg&f=1
It was the excess margin debt that made the market vulnerable to a crash.

The '29 crash did not cause the Great Depression I. It is claimed that the Great Depression I was precipitated by a banking failure,, specifically, Credit Anstalt.
The Creditanstalt Crisis of 1931 and the Failure of the Austro-German Customs Union Project
"European bank runs and failure of Credit-Anstalt in 1931 - Business ...
Page Not Found - Business Insider...
May 21, 2012 - At the time, it was the biggest bank of Austria. Its failure triggered a European banking crisis"
Biggest bank,,, why does that sound familiar?
Lessons from the Credit-Anstalt Collapse - Bloomberg
https://www.bloomberg.com/news/artic...stalt-collapse

"Seven years on from the bailout of Austrian Hypo Alpe Aldria Bank, private investors and politicians are still at loggerheads over who should foot the bill. While Hypo Group itself is no more, Heta, the "bad bank" designed to wind down the business over time, is now the problem: it disclosed a 7 billion-euro ($8 billion) capital hole last year."

Banking Crisis Reemerges in Austria – “Bail-In Is Now the Rule” as Noonan Warned
3, March

– Auditors find €7.6 billion hole in Austria’s “bad bank”, Heta Asset Resolution AG

– Austria’s government says it will not give Heta “a single euro”

– Emergency legislation passed last month means bondholders to be bailed in

– Risk of contagion high as other banks may hold Heta bonds

– “Bail-in is now the rule” – EU Finance Minister Noonan

– Austrian bondholders today … international depositors tomorrow …
"for the first time after the Austrian government said it would pour no more money into its ‘bad bank’, triggering a fall of nearly 30 per cent in the value of some bonds."
" The profitability of Europe's banks is in crisis rather than the system itself, the finance minister of Austria told CNBC"
The breakdown of the Swiss Franc peg has made it far worse for Austria.
https://www.armstrongeconomics.com/w...t-do-so-again/

Edit; Here is the current though on gold in Austria;
https://www.zerohedge.com/news/2018-...h-ecb-governor
So Austrian and European bondholders have been warned that bail-in is the new program. Is it any wonder that there is huge capital flight to America?
Armstrong said that the stock market is no longer affected by price or earnings.
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Last edited by Danny B; 06-10-2018 at 12:07 AM. Reason: Cause I felt like it... one more link
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  #2814  
Old 06-09-2018, 10:58 PM
Danny B Danny B is offline
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credit crisis and illiquidity

Armstrong made it clear that U.S. GOV would collapse going into 2020.
Not wanting to be left out of the doom porn, Ray Dalio says that he expects the whole system to collapse going into 2020. Now, we have a celebrity who is claiming that we will collapse going into 2020.
Big, Bad, Bald Benjamin Shalom Bernanke.
Remember, Bernanke said that HE could have headed off Great Depression One. He said that the FED did not inject enough liquidity to save the day.

Bernanke 2008;
"As you know, financial systems in the United States and in much of the rest of the world are under extraordinary stress, particularly the credit and money markets. ......resulting in further declines in asset prices and a drying up of liquidity in a number of funding markets."
He injected something like $18--20 trillion. It did NOT fix anything, except temporarily.

" it also means that the more supercharged the economy gets thanks to the fiscal stimulus, the greater the fall will be when the hangover hits. "
"Stealing further from the Bridgewater note, Bernanke said that while the stimulus "is going to hit the economy in a big way this year and next year and then in 2020 Wile E. Coyote is going to go off the cliff, and it's going to look down"
"The irony here is delightful: after all it was Ben Bernanke who consistently blamed Congress for not doing enough to jumpstart the economy during his time in office - a core topic of his 2015 memoir "The Courage to Act: A Memoir of a Crisis and Its Aftermath"; it is the same Bernanke who three years later is now blaming the President and Congress for doing too much."
"Congress is largely responsible for the incomplete recovery from the 2008 financial crisis, Ben S. Bernanke,"
"And now that Congress has more than done its part, Bernanke predicts collapse in under 2 years."
"The even bigger irony of course is that the real reason for the upcoming collapse has little to do with Trump whose $1 trillion stimulus is a drop in the bucket compared to the doubling of the US debt under the previous administration and the $20 trillion liquidity injection by Mr. Bernanke"
"But, with a convenient scapegoat currently in the White House, the Fed - and certainly the one person who assured that the bursting of the current asset bubble will be nothing short of spectacular, Ben "subprime is contained" Bernanke, will be more than happy to place all the blame for the upcoming economic crash on who else, Donald Trump."

"When POTUS was on the campaign trail he said the U.S. economy was all a big bubble being propped up by the Fed's low interest rates, and now of course the Fed is saying it's all a big bubble being propped up by the POTUS tax cuts"

Comments;

"The inevitable collapse from attempting unlimited growth on our finite planet is a surprise? Really? The 1972 MIT "limits to growth" detailed this a long time ago.
Limits to Growth: Dennis Meadows (#116 Encore) - Conversation Earth
According to this graph from BofA ML, the Fed is going to create a crisis next year by raising rates.

https://glitchtraders.com/2018/05/24...ates-a-crisis/

Which was done (((Fed Chairman))) By (((Fed Chairman ))) over the last 30 years... Wow...


Now that we are AT the brink i think it is BRILLIANT that you have a token Goy in Place as Fed Chairman... Jerome H. Powell... For The Inevitable Destruction of the US Economic System... as you so well predict Ben ?
https://www.zerohedge.com/comment/11802089

About that liquidity and those credit markets,,,
6/09 Nomi Prins: “major credit squeeze” could trigger next crisis – Zero Hedge
6/09 Goldman urges “de-risking” strategies in stocks as credit tumbles – Zero Hedge
6/09 “It’s just like 1998” — haunted by visions of a bursting tech bubble – Zero Hedge
6/08 Goldman: Credit markets ringing alarm bell on stocks – Bloomberg


6/09 SNB’s Jordan says too early to raise interest rates – Reuters
6/09 Fed, ECB to tighten policy in tandem – Reuters
6/08 Fed to raise rates regardless of emerging market woes – Bloomberg

NOT true, they want to precipitate a crash from dollar illiquidity.
6/09 Trump vows to ‘straighten out’ G7 trade ahead of meeting – Reuters
Buy more popcorn.
6/09 Emerging market outflows likely to continue – Financial Sense THAT is what the FED is betting on.
6/09 Trump to leave G7 early, tensions high after ‘rant’ over trade – Reuters
Trump pulled the wheel off the apple cart.

6/09 Fed, ECB to tighten policy in tandem – Reuters
The ECB would like to raise rates to stop capital outflow. They can raise rates but, they can NOT buy confidence. Raise rates,,,,, collapse much sooner.

OK, we're told over and over that liquidity has dried up. Who Knows?
"Total System (non-financial, financial and foreign) Credit expanded at a (record) seasonally-adjusted and annualized rate (SAAR) of $3.513 TN during 2018's first quarter, compared to Q4's SAAR $1.411 TN and Q1 '17's SAAR $860 billion. This booming Credit expansion was fueled by an SAAR $2.519 TN increase of federal borrowings. Granted, this was partially a makeup from Q4's slight contraction in federal debt growth.

In nominal dollars, Total U.S. System Credit expanded a blazing $962 billion during Q1 to a record $69.717 TN (349% of GDP). Non-financial Debt (NFD) expanded a record (nominal) $874 billion, with one-year growth of $2.413 TN. One must return to booming 2007 for a larger ($2.508 TN) four quarter-period of Credit expansion. NFD ended Q1 at a record $49.831 TN, matching a record 250% of GDP. NFD expanded $4.086 TN over the past two years, the strongest expansion since '07/'08."

"Outstanding Treasury Securities ended Q1 at a record $17.046 TN, increasing a nominal $615 billion during the quarter."
"Treasury debt-to-GDP ended Q1 at 85%, more than double 2007's 41%. It's worth adding that total Treasury and Agency Securities ended Q1 at a record $25.920 TN, or 130% of GDP."
" Total Debt Securities (TDS) expanded $789 billion during the quarter to a record $43.868 TN. TDS began 2000 at $15.606 TN and closed 2007 at $28.828 TN. TDS ended Q1 at a near-record 220% of GDP, up from 2007's 200%. "
"Household Liabilities increased $44 billion for the quarter ($538bn y-o-y) to $15.574 TN. "
https://creditbubblebulletin.blogspo...1-flow-of.html
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Old 06-10-2018, 05:19 PM
Danny B Danny B is offline
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Buying time in the confidence battle

Armstrong has an AI program that now runs over 30,000 variables. You can well imagine that I am having a hard time trying to paint a coherent picture. Good thing that I am not writing a subscription newsletter.

A. The feds claim that unemployment is 3.1%
B. Shadowstats shows very clearly that it is about 23%
C. The State admits that 95 million are not in the workforce.
Investors focus on "A" because it sounds the best.

"Total System (non-financial, financial and foreign) Credit expanded at a (record) seasonally-adjusted and annualized rate (SAAR) of $3.513 TN during 2018's first quarter,"
So, credit has expanded by a rate that is a new record. At the same time, we are told that there is an extreme liquidity crisis. Nobody is buying new treasury debt issuance. Uncle Sam reports that (formerly) BRICs were buyers. Now, they claim that American households are the buyers. I suspect that all this new liquidity is being channelled to support the State. The world capital is flowing to US GOV regardless of how many stock certificates you hold.

Investors focus on total Treasury sales and the Bid-to-cover ration and, don't look any deeper. I expect that the big funds are not fooled.

Nobody is shorting Japanese sovereign bonds because the BOJ just prints more and more to support everything.
Nobody shorts U.S. treasuries because they assume that all the foreign capital flight is holding up all markets.
Europe is a different story. It is painfully obvious that nobody is buying sovereign bonds from southern Europe. Europe has become Marxist with a fascist overlay of control.
https://www.goldmoney.com/research/g...efcode=dollarc

OK, so the world is in a full-on battle to attract funds to home Central banks. The French State spends 57% of the GDP. Remember that money spent on consumption can not be paid back,,, as opposed to money spent on investment. The more socialist a State is, the harder it is to attract funds and repay debt. What if those State funds are encumbered or endangered?
"Deutsche Bank and Italian banking system failures with all the extreme consequences like the contagion to the French banks which hold three times as much Italian debt exposure versus German banks,,, the systemic Lehman event which has begun with extreme risks for both sovereign bond defaults and entire banking system failures"
GOLDEN JACKASS.COM - The Golden Jackass Knows Gold, Currencies & Bonds"

America has gambled that raising rates will attract enough capital to float all boats. They know that a lot of business will fail from the higher rates but, they believe that the gamble is both necessary and worthwhile.
America is buying time to hold back a sovereign bond collapse. Uncle Sam is pocketing the capital inflows that are supposedly going into the stock market.
At the same time, Uncle Sam is attacking all rivals. Somebody is shorting Deutsch bank, the largest in Europe. Could that somebody be Uncle Sam?
6/10 Italian political crisis is a black swan testing European banks – MSN
Did Uncle Sam help out Lega Nord and 5Star? That election certainly helped to destroy ECB credibility.
Trump Taps Bannon's Producer For US Propaganda Czar
America is working very hard in the war to attract capital AND trash other CBs. No wonder that the G-6 are mad as hell at him. The Italian banks will blow the minute that Draghi lets off the gas pedal. Deutsche bank will blow the next day

Donald Trump at G7: 'US is not a piggy bank to be robbed'
Ah yes
When America reneged on the Bretton Woods agreement, the dollar became a de facto reserve currency. The only way that the R.O.W. could save money was to buy dollars. We had to print more and more AND still run a trade deficit. Unfortunately, this arrangement resulted in; the R.O.W financing their own destruction by way of the deep state.

America is trying to buy time in the confidence game and, at the same time, destroy the confidence in other States / currencies..
6/09 Upcoming elections could wreak havoc on the financial markets – CNBC
The Central Bankers are trying to preserve their little domain.
6/10 Beware former central bankers telling you to work more – Liberty Blitzkrieg

China;
"Chinese money not only inflates a property bubble domestically but also around the globe (e.g. in Sydney and Vancouver) The IMF has forecast a further doubling of total Chinese debt outstanding from USD 27,000bn in 2016 to USD 54,000bn in 2022."
https://mises.org/wire/china-trouble
The result, 6/09 Cities struggle to fend off ‘unstoppable juggernaut’ of Chinese home buyers – ZH
I really have no idea how this will work out.
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Old 06-10-2018, 05:48 PM
Danny B Danny B is offline
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Peak cheap oil, Trump and the FUSOR

America reached peak cheap oil Several years ago. The shale-oil-miracle was all pumped out at a loss. The junk-bond market is melting and, shale needs 1.5 million new wells at a cost of $5.4 trillion. The Wolfowitz doctrine called for Pox Americana to control Central Asia and, all the resources there. The Sino-Soviet bloc is just NOT going to let that happen. Trump and Co. are trying to buy a little more time and, a little more confidence. There is a general agreement that America will collapse going into 2020. This would be at election time for the President.
50% of our oil is used on the road. We're importing about 4 million BPD.
Trump is trying to create raproachment with Russia. Several factions are trying to block that.

Iffy, "According to secret space program whistleblower, Corey Goode, President Donald Trump issued a highly classified Memorandum soon after his January 20th inauguration ordering the release of group of classified patents concerning anti-aging and health, along with free energy technologies."
https://www.exopolitics.org/secret-p...g-free-energy/

". Dr Thomas Valone estimated that patent applications for FREE ENERGY related technology have been "secretized" over 3,000 times over the years."
Patent Office
OK, it is obvious that a crash in oil supplies would bring a crash in EVERYTHING. Will Trump try to pull a rabbit out of a hat? There is a positive indication.
Lockheed Martin Now Has a Patent For Its Potentially World Changing Fusion Reactor - The Drive
Hot fusion was discovered decades ago. It was buried to protect the petroleum industry. Standard Oil had to borrow money from the credit markets to pay dividends. I suspect that the FUSOR will be brought to market to take pressure of oil production.

The West is going in to a complete crash. Cheap fusion would make a huge difference in the outcome. As the price of energy goes up, consumption goes down.
Housing; https://www.theautomaticearth.com/20...re-overvalued/

Kunstler, The Summer of Discontent - Kunstler
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Old 06-13-2018, 02:39 PM
Danny B Danny B is offline
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C.H. Smith,,, Buffet,,,bank closure,,,Trump & peace

Some writers are just WAY above all the others. Charles Hugh Smith is one of them. And, what does it cost you to hear his wisdom?
If you found value in this content, please join me in seeking solutions by becoming a $1/month patron of my work via patreon.com.
Moving on, Smith has written an EXCELLENT summary of where we are. It is a great over-view.
https://www.oftwominds.com/blogjun18...wrong6-18.html

A couple of years ago, Venezuela pulled home all it's gold to support it's currency. The currency is failing anyway.
Most recently, Turkey is pulling home it's gold.
Countries Around the World Have Begun Pulling Their Gold from U.S Vaults
The problem isn't necessarily the currency. The problem is the sovereign bond market. Theoretically, the currency is commensurate with economic activity. The health of the bond market is commensurate with confidence.

"Buffett’s $116 billion mountain of cash was enough to literally buy any of the 450 largest companies in the United States.

But he didn’t buy a single one. Why? Because they’re all too expensive. Asset prices are far too high.

So… here is the most successful investor in modern history who:

1) Didn’t buy anything in 2017;

2) Is stockpiling a mountain of cash;

3) Is now selling an asset that he would typically hold forever because another company made an absurdly high offer for the business"
(He holds) "a massive stockpile of $116 BILLION in cash at the end of 2017… most of it in short-term Treasury Bills."
https://www.thedailybell.com/all-art...means-for-you/
P/E ratios are astronomical because of all the hot money floating around looking for a safe-haven in something tangible.
Armstrong has said to have a weeks worth of food. Armstrong normally does not talk about specifics like that. Armstrong has been VERY vocal warning about the difference between assets and currency. Buffet has his money in Treasuries.
Put this all together; you can see that Armstrong is avoiding forecasting a bank closure. Why else would he endorse having a simple one-week food supply?
Deutsche bank laid off 10,000 more employees. How long can a bank operate after losing so many people? When the Italian banks and Deutsche bank collapse, all banks will be closed for reorganization. Buy LOTS of popcorn.

The cost of an education has gone up at 3 times the rate of general inflation.
"The number of students enrolled in higher education had dropped by a little over 450,000 after years of booming growth"
Those who actually teach are not getting the money. It ALL goes to the blob state. The millions of paper-shufflers who add nothing to the industry.
https://www.theatlantic.com/educatio...n-dies/561995/

Apparently, the global financial safety net is breaking down, https://www.philstockworld.com/2018/...ly-inadequate/

Larry Kudlow, National Economic Council director, hospitalized after suffering heart attack, Trump says
Poor guy took a look at the budget deficit.
Armstrong is not openly predicting a bank collapse. Economic Prism is predicting a collapse of the dollar. I suspect that this will happen after the EMs and Euro collapse.
https://goldsilver.com/blog/the-us-g...y-option-left/

It is obvious that the West is in a downward spiral. Israel is hoping to avoid becoming collateral damage. Their plan is ;take the oil in the Golan Heights of Syria AND, the gas off of Lebanon and Gaza. Russia and Putin stand in their way. As we get closer to our date with bankruptcy, Netanayahooo gets ever-more strident condemning Russia. Israel is a pariah in the world community. THAT is why NATO made a point in telling israel that it would not defend them in the case of an attack on Iran.
Trump and NATO are OK with rattling sabres all around Russia. The NATO command has NO intention of becoming a flambé at a Russian BBQ.
Trump refused to sign a G-7 paper condemning Russia. That right there is an indication that any kind of kinetic attack on Russia just isn't going to happen.
The Deep State is gnashing their teeth about peace on the Korean peninsula. North Korea was supposed to get a quick fry job. This would create a bridgehead to go into Russia. Trump is ruining that plan also.
Predictably, the NYTimes is going ballistic at the thought of peace.
Kunstler, http://kunstler.com/cluster****-nati...ing-diplomacy/
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Old 06-14-2018, 01:44 AM
Danny B Danny B is offline
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Fiscal policy & FED policy,,,borrowing $trillions to support non-producers

The Central Bank was created to finance wars when the State didn't have enough gold to finance a protracted war. (G-30 bulletin) Before WW II, the FED was forced to buy GOV bonds to make sure that the war could be long and lucrative. Both Japan and Germany tried in vain to surrender early. Both were rebuffed. After WW II, U.S. GOV demanded that the FED continue to buy GOV bonds. This set the CB on the road to finance State debt.
The State is the firewall between Darwinian pressures and, non-producers. As time goes by, more and more non-producers are drawn to a State paycheck. The bankers are more than willing to make GOV "service" very lucrative to public officials with power. The second tier hangers-on don't get remuneration from the bribe train. They have to settle for a GOV job that pays them far more that the private sector,,,, that is, if they even have any abilities needed in the private sector.

Central Bank monetary policy is slowly subjugated to service an ever-increasing State debt. This isn't just about the welfare State. The warfare State is a huge drain also. The welfare state buys us a bit of domestic tranquillity. The warfare state does just the opposite.
https://www.zerohedge.com/news/2017-...hem-killing-us
17. Read, On Killing: The Psychological Cost of Learning to Kill in War and Society, by Lt. Col. Dave Grossman.

We would need a completely different fiscal policy if we wanted FED policy to be more responsible. The public debt has doubled under every administration. The politicians grow ever-more rapacious. The blob State grows ever-larger. The war industries consume ever-more wealth.
Armstrong,"That said, the conspiracy theorists blame the central banks for absolutely everything and assign no blame to the politicians for the fiscal side."
"The difference is, I really had some $3 trillion under contract which was about 50% of the US National Debt at the time. "
"When our model called the 1987 Crash to the day that was one thing. But the very day of the low it confirmed that was it and the low would hold and off we would go to new highs by 1989.95. I was called in by the White House that day and asked to confirm this low would be it"
"Then the Tokyo Crash took place perfectly with the top of the ECM 1989.95 and again I had two central banks on the phone at the same time. The question was did the computer say they needed to intervene? I said no. It was confined to Japan."
"The stock market again peaked on the very day of the ECM July 20th, 1998. That was followed by the collapse of Russia and the Long-Term Capital Management Crisis. That is when the CIA called and wanted the model "

"Yellen pleaded with Drahi to stop his insane negative interest rate policy. He would NOT listen. She hesitated in raising US interest rates back in 2014 hoping that Draghi would see the huge mistake he was making in creating the next crisis – the destruction of the European bond market and the pending Pension Crisis."
"We try to contribute to society in hopes of one day perhaps AFTER the Crash & Burn, just maybe we can avoid a fall into totalitarianism. "
https://www.armstrongeconomics.com/a...central-bamks/

"You have to understand that the entire budget and social programs were indexed to the CPI. So, the NUMBER ONE way to reduce deficits was to reduce the CPI index so politicians did not have to vote to cut programs and suffer the arrows launched by the public."
"The biggest cost of labor is NOT the actual wage paid to an employee. It is the benefits, taxes, and regulatory costs." Feeding the blob State
"They wanted to lay-off 25% of the workforce and the Germany government finally agreed. At the last minute, they instructed the company that they COULD NOT pick and choose who to lay-off. They had to offer 100,000 to give up their job “willing” no less. Everyone who knew they could get another job took the 100k and left. The very people they wanted to get rid of stayed. That was how regulators screwed up companies. "

"The higher the tax burden, the lower the standard of living" "The tithe was an obligatory offering from the law of Moses requiring 10 percent of an Israelite’s firstfruits. We are so far beyond that it is destroying our civilization. As you can see we take the total consumption of government as a percent of GDP. There is just no end in sight. The USA economy is doing far better than Europe as a whole simply because we are at 37.6% of GDP compared to the insanity of France where Communism began – 56.7%. "
"The development of robots is to simply eliminate the benefits and regulatory costs. The worker sees this as just his hourly wage. But the real costs in far too often 50% of the wage or higher from the company’s perspective. "
https://www.armstrongeconomics.com/w...ove-to-robots/

"This is the battle between Demand v Supply-side Economics. This age of “New Economics” that was ushered in by Marx and Keynes, justified that government had the power to manipulate society to achieve their goals. The idea of raising and lowering interest rates to influence demand has utterly failed. The 800-pound gorilla in the room is the $200 trillion+ of sovereign debt around the world. Demand-Side Economics cannot possibly work when the biggest debtor is government and the raising of interest rates only increases their deficits that come back as tax increases reducing the net wealth of the people and lowering economic growth."

"This is why we are headed into a Crash & Burn. There is no other outcome possible. Government is crowding out the private sector so the annual rate of economic growth has steadily declined. The transfer of wealth is not between the RICH v the POOR. It is between Government v the People."
"But states like Illinois and California have net migrations outward because of the tax burden – not because some CEOs make too much."
https://www.armstrongeconomics.com/a...ver-discussed/
Gavin Newsom will double the state income tax: John Cox - MSN.com
https://www.msn.com/.../gavin-newsom...ax.../vp-AAypl...


Armstrong will invariably take the side of the private bankers. It is NOT that simple.
"The Communist Manifesto foresaw the predatory and polarised global capitalism of the 21st century. But Marx and Engels also showed us that we have the power to create a better world. "
https://www.theguardian.com/news/201...nist-manifesto
At the same time,we must consider, "A democracy cannot exist as a permanent form of government. It can only exist until the majority discovers it can vote itself largess out of the public treasury. After that, the majority always votes for the candidate promising the most benefits with the result the democracy collapses because of the loose fiscal policy ensuing, always to be followed by a dictatorship"

This is where we now find ourselves. Too many non-producers trying to live off of renting their money. Too many non-producers in GOV trying ti live off of the taxes of the producers. 50% of the cost of everything that you buy, goes to finance. The banks front-run everything that you buy,,, using your savings that pay no interest to you.
Americans Must Work Jan. 1 Through April 24 Just to Pay Taxes
The debt has doubled under every administration.
6/13 Congratulations workers — you make a penny more per hour than last month – Mish
Armstrong is correct about the burden of debt caused by the State. He ignores the burden caused by the bankers. That is, price inflation caused by currency inflation.
https://internationalman.com/article...as-a-milk-cow/
The reproductive rate and the demographic crash is where the rubber meets the road.
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Old 06-14-2018, 03:10 PM
Danny B Danny B is offline
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Taper, SS,,, notes on Trump

Headlines;
6/14 Emerging markets “under pressure” after Fed rate hike – Bloomberg No accident there.
6/14 ECB gets ready to pull the plug on stimulus scheme – Reuters Armstrong claims that Yellen told Draghi NOT to continue with ZIRP. He also claims that Draghi has destroyed the European bond market. Draghi can pull the plug on stimulus but, the Italian banks will look like Vesuvius,,,, on a bad day.
6/14 Capital flight to Germany in full swing – Mish The Germans hold lots of exposure to Italian banks. When Deutsche bank blows, this will crater the Bundesbank.
6/14 Bank of Japan cuts bond-buying by 30bn yen – biggest taper yet – Zero Hedge
So, the CBs are going to cut back printing. There is way too much hot money in the system for it to stabilize. Everybody is hunting for yield.
6/13 Junky loans surpass junk bond market as investors chase yield – The Street

Shadowstats is correct but, nobody wants to listen to them.
The Real Economic Numbers: 21.5 Percent Unemployment, 10 Percent Inflation And Negative Economic Growth
6/14 Fed will give $37 billion of free money to the banks – Mish Why stop now?
6/13 Fed hikes rates, points to two more increases by year’s end – CNBC https://www.youtube.com/watch?v=j2pGBv9Ly6A

6/14 The Social Security deficit will be monetized – GATA Armstrong tried to convince FED GOV to privatize SS and put the money into stocks instead of GOV bonds. The democrats blocked this. ALL the money needed to be available for wars. If it were in stocks, it couldn't be raided to the last penny.
6/14 Bitcoin notches two-month low in the wake of cryptocurrency exchange hack – CNBC
6/14 The real opportunities in cryptocurrencies — aren’t in cryptocurrencies – Daily Bell

I don't see a future for crypto-currencies. They are used for tax avoidance and money laundering. That pits them against the State. They are constantly hacked and stolen.
6/13 Rents are still growing much faster than wages, even as growth cools slightly – MW The hot money flows into residential RE. The speculators demand higher rent. It is all part of the hunt for yield. ALL of this contributes to a falling birth rate.

6/14 Chris Packham warns of ‘ecological apocalypse’ in Britain – Guardian It is looking kind of grim. I haven't been there lately.
Last Exit to the Road Less Traveled - New Economic PerspectivesNew Economic Perspectives
Here is an article on the shadow rate at the FED. The article is interesting but, investors must turn a blind eye to the true rate on price inflation. The price inflation rate must be subtracted from the bond yield to get a true picture.
https://dailyreckoning.com/the-shado...-flashing-red/

Notes on Trump;
Military-Industrial Stocks Crash After Summit
6/13 Trump’s tariffs on China coming soon – Politico The globalists gave China most favored nation trading status. Looks like Trump is going to un-friend them.
6/14 Donald Trump was right. The rest of the G7 were wrong – Guardian
6/14 Eurozone immigration crisis 2.0 may wreck Merkel’s coalition – Mish Lets hope so.
5/06 Nobel Peace Prize committee says “no f**king way” to Trump – Extra News
6/12 Trump Is Nominated For The Nobel Peace Prize
Fulfilling The Visions That Dance In His Head

Trump has MUCH bigger plans than any SERIOUSLY devalued Nobel prize.
6/14 US-backed Kurds agree to “unconditional talks” with Syria after US-Turkey deal – ZH How to piss off Netanyahooo
6/14 Centrists concerned that DONALD TRUMP isn’t hawkish enough – Medium He is cutting into their profits. Centrists, my A$$.
Mueller indicted a bunch of Russians in his witchhunt to bring down Trump. He knew that they would NEVER show up to testify.
6/14 Russians Mueller indicted actually show up in court – ZH

The Shanghi cooperative Organization includes a LOT of States. They have pledged to avoid war at all costs to settle their differences.
North and South Korea pledge to end war, seek denuclearization ...
https://www.reuters

Trump showed up in N.K. with visions of wealth for Kim's PEOPLE. America says that it is going to get quite rich developing the country. Russia and China have said that they will develop N.K.
NOPE, we can't have peace in Korea until the contracts are signed AND a Rothschild bank installed.
Hot war has just gotten too dangerous. The war-mongers seem happy enough to settle for a cold war. Trump and Putin are conspiring to bring an end to even that. The war hawks are doing (almost) everything that they can to continue a lucrative business.
Much of this centers in Tel Aviv.
The hawks continually provoke Russia by chipping away at it's interests. If Russia finally responds, they can say, SEE, we told you that Russia was a dangerous aggressor. Putin has to absorb damage in the cause of bringing world peace. Obviously, there are several factions that do NOT want world peace.
https://www.zerohedge.com/news/2018-...ide-deep-state
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Old 06-15-2018, 02:57 PM
Danny B Danny B is offline
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Location: L.A. Ca.
Posts: 4,145
Automation,,people shortage,,, capital flows

Zero Hedge has an excellent article on automation taking all the jobs. I'm going to start with a couple of the comments.

"We do jobs so we can buy specialized human labor in the form of goods and services. Money is a claim on human labor. The more automation goes into a product, the less labor it takes to buy it. For example, in the Victorian Era, a man might work a half a day in the field in order to afford a single loaf of bread. Today, a minimum wage moron can buy that same loaf with just a few minutes of labor.

Goods that go beyond a certain threshold of automation become free. For example, content is served almost entirely automatically on the internet, hence, almost all content is free. Those things that are paid for generally go by the freemium model, where a few people buying special services pay for the entire service."

"Anyone who knows anything about economics knows that if machines replace humans in ten key industries that the value of those products in the economy falls and therefore more lucrative opportunities open up elsewhere. In the early 1900s the tractor and fractional horsepower electric motor replaced 80% of all jobs. Was it a catastrophe or did the economy adapt."
Quote, "In fact, automation could destroy as many as 73 million U.S. low skilled, low wage laborers by 2030, a recent report by McKinsey Global Institute stated.

The dire prediction that robots could take a bulk of the middle-class jobs — has led many of macro strategists to believe that significant economic disruptions are coming to America."
You should read the entire article, https://www.zerohedge.com/comment/11827708

I do not see a single mention that, AS AUTOMATION RISES, THE BIRTH RATE FALLS. People see no particular need to have children to support society. People see no future job niches for their possible offspring. Since a living wage is available to so few, the majority can't afford to have children.

Here is a good article on credit and the cost of renting money. The article goes on and on about the falling FED funds rate. Reportedly, we are 1% away from setting off a credit crisis. Japan PROVES that there is no escape from a credit crash if the population is falling. Does this article make mention of this? Not on you life.
https://www.goldmoney.com/research/g...efcode=dollarc

The foundation of the entire economic system is based on growth. More and more wealth must be stolen from the producers to keep the parasites growing numbers well supported. This is completely contrary to the needs of the family and society. Several States are importing millions of immigrants in the hopes of increasing population growth. The fallacy is; most of these people left their home countries because they had no skills or job opportunities there. This has been well proven in that most of the immigrants remain on the dole for the rest of their lives.
Instead of being an economic stimulus, the majority of these immigrants are an economic drain.

Some States turn a blind eye to this. Others do not.
6/15 Diplomatic meltdown: Italy-France relations collapse over immigration – ZH
6/14 Merkel struggles to avert German coalition crisis on migrants – Reuters

Consumption by the State can never be repaid. Only so much can be siphoned off before it affects the overall fiscal health.
6/14 Euro tumbles as ECB vows to keep rate down – Reuters
The EU can NOT service it's debt at any rate higher than ZIRP. Draghi knows that he is causing ENORMOUS capital flight. The fallout...
6/15 Emerging markets massacred as dovish Draghi sends dollar soaring – ZH

These feces-for-brains never seem to consider globall capital flows. Did it never occur to Draghi that continued ZIRP would wipe out the banks AND the entire EU bond market?
6/15 The ECB, not the Fed, is the match that will spark bond market volatility – MW
Not entirely true. Due to the saturation of the U.S. dollar AND the lower cost of the U.S. safety net, the FED was able to raise rates and attract capital. I suspect that these capital inflows have been diverted to support the State rather than actually flowing into stock portfolios. Stock indices have gone way up from investors trying to preserve their capital. They don't care about P/E.
All this capital that was attracted had to come from somewhere. The FED took in all the bad loans and made the U.S. banks appear stronger. The ECB did NOT take in the bad loans. Forget that Freddie, Fannie and Sally are bankrupt and bleeding $billions. As long as these black marks do not show up on the balance sheets of the private banks.

China created more new credit than the FED, ECB and BOJ combined. That has led to about $1 trillion a year of capital flight from China. Capital inflows beget confidence and, more capital inflows. Draghi holds rates down and, causes more capital outflows.

6/15 China holds fire on rates, posts ‘shockingly weak’ activity growth – Reuters
Shockingly weak, huh? Their workforce is shrinking by ONE MILLION a year.
6/15 Junk bonds blow off the Fed, face sudden reckoning – Wolf Street
6/15 Cryptocurrencies lose more than $42B following hack, regulatory crackdown – Fox No big surprise.
6/15 Italy never should have joined the euro, and the ECB can’t rescue it – MW Time will tell the details.
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