I agree with this as GHW Bush the One Wold Government guy who sign the Kyoto accords and set in motion UN Agenda 21 which was then funding by his predecessor William “Bubba” Clinton. UN Agenda 21 is now in the implementation phase and is to be completed by 2040. At that time North America and the EU will be one and Bush’s One world Government (NWO) will be complete. Trumps election would stop this program and destroy decades of work to create a ruling class or a new monarchy. THIS CAN NOT BE ALLOWED TO HAPPEN
Monthly Archives: September 2016
Just As Flint Threatens Lawsuit, The State of Michigan Removed Their Power to Sue
It’s about protecting the politicians — they don’t give a rats ass about the people or this would have been solved already!!
Hillary on How to get Transparency
ENOUGH IS ENOUGH! Texas Says “NO” To More Syrian Refugees
All imagration must be stopped it is out of control. But the worse of them are who the government is bring in to create havoc in the population along with the BLM movement. The progressives under the leadership of Soros would like an excuse to suspend the election because its clear to them the Hillary can not win! They only have two options left to them take out Trump or suspend the election.
US federal debt Soars At Fatest Pace Since Financial Crisis
People or countries that are addicted spanking, like gambling, never stop until they are stopped by either losing everything or being stopped by someone i.e. have your legs broken by the mob collector.
Trump opposes plan for USA to cede internet oversight…
We will see if congress has any guts! It would be the first time in almost 8 years so don’t hold your breath!
Day #4 – The “stonetear” Investigation – Chairman Jason Chaffetz Sends Preservation Notice To Reddit…
I would not be surprised if the investigation is being set up to find a scapegoat e.g. Combetta” who will be the one that did all this without the knowledge of Hillary. If they can set this up now Hillary can then claim she was telling the truth. Obviously this is not true but if someone goes to jail she is covered — unless he can prove he was told and if he can he will disappear!
Congress Commits Treason Against the People
Armstrong Economics Blog
Re-Posted Sep 22, 2016 by Martin Armstrong
The arrogance of Congress & NSA knows no bounds. A U.S. congressional intelligence committee issued a critical report accusing Edward Snowden of treason, claiming, without knowledge or proof, that his leak of information “caused tremendous damage” to U.S. national security. They rejected him as a “whistleblower” and totally ignore the civil rights of the American people as if we are just cattle. They place their secrecy above all else.
They claim, without proof, that the majority of material he stole from the NSA was not limited to privacy of citizens, but concerned intelligence and defense programs of great interest to America’s foreign adversaries. Of course, they do not mention that their staff wrote programs to collect nude pictures that girls sent to their boyfriends, illustrating that these people can play and intrude into the private lives of everyone.
They openly admitted that they did not even know the “full scope” of damage caused by Snowden. Nonetheless, they have no problem calling him a traitor when in fact they committed treason by violating the Constitution, which was intended to be a NEGATIVE restraint upon government. These are real traitors for they have flipped the Constitution on its head so they get to do whatever they desire. It is up to the people to challenge them instead of making our civil liberties entirely dependent upon someone like Snowden who is sacrificing his entire life to expose these very evil people who see themselves as justified.
There is a simple solution — STOP the national building policies. Neither Russia nor China has any desire to invade the United States and occupy the nation. Communism is dead, and the Cold War should be too.
Fed Seeks to Prohibit Companies from Merchant Banking to Promote Lending
Armstrong Economics Blog
Re-Posted Sep 22, 2016 by Martin Armstrong
The Federal Reserve wants to take away the ability of Goldman Sachs and other banks to invest in companies rather than acting as bankers and lending. The U.S. banking regulators are urging Congress to prohibit merchant banking where firms buy stakes in companies rather than lend them money. They are pushing for limits on Wall Street’s ownership of physical commodities after lawmakers accused Goldman Sachs and other banks of seizing unfair advantages in metal and energy markets in recent years.
Merchant banking has generally become the business of making private equity investments in non-financial firms, in particular, equity investments that have a venture capital character. Based upon a report on a multi-agency study of banks’ investment activities required by the Dodd-Frank Act, they highlighted ways to fix potential risks that regulators didn’t think were handled by the Volcker rule ban on certain trading and investments. However, Congress needs to pass legislation and they are subject to bribes that we call lobbying, which presents the greatest hurdle to actually changing anything. The Fed’s recommendations on merchant banking would end the ability to operate mines, warehouse metals, and engage in shipping oil.
Indeed, there was a 2014 Senate investigation into banks’ commodities businesses. That revealed Goldman Sachs had almost $15 billion in merchant banking investments, not loans. Goldman Sachs’ most recent filings illustrated that it booked $1.2 billion in revenue through the first six months of this year in its division that takes equity investments under its merchant banking division.
This has been a wide-ranging agency investigation. The Office of the Comptroller of the Currency (OCC), said it must restrict lenders’ holdings of the hard-to-value securities. Indeed, such activity cannot be marked-to-market and becomes fertile territory to hide major losses. The OCC’s proposed a rule would curtail banks’ investments in certain industrial metals including copper and aluminum. They fear not merely price fixing, but the scandals of market manipulation.
The Fed has also called for the repeal of exemptions for industrial loan companies. These are generally lenders owned by non-financial firms, which allows them to operate outside of rules that effect banks. The Fed is seeking a fair and level the playing field among financial firms to separate banking and commerce, which was effectively the foundation of Glass-Steagall repealed by the Clinton Administration at the urging of Goldman Sachs’ Robert Rubin.
The bankers’ biggest savior is, of course, congressional gridlock. During the DOT.COM bubble crash back in 2001, the Fed and the U.S. Treasury Department adopted a merchant banking rule following the 1999 Gramm-Leach-Bliley Act, which actually gave the banks the right to make these very investments. Every crisis creates the solution that becomes the crisis for the next cycle. They allowed the bankers to get into these investments to support the banks. That led to the manipulation of markets and a host of scandals ever since.
Actually altering merchant banking and other industry laws requires Congressional intervention and they are only in this for whoever pays them the most. Therefore, the likelihood of any immediate impact is minimal. No one in Congress is willing to go after the bankers in times when they need their donations.
Let us make no mistake about this issue. Indeed, Goldman Sachs, Morgan Stanley, and JPMorgan were the very targets of public criticism that led to the 2014 Senate review of their commodities businesses. The bottom line was that they used their ownership of metals and other physical commodities to dominate markets and gain unfair trading advantages. The physical commodities businesses at Goldman Sachs and Morgan Stanley were protected by grandfathering that allowed them wider abilities than most banks. This is the very unfair advantage that the Fed is trying to attack under Yellen.
Morgan Stanley did sell-off its oil business last year and backed away from industrial metal trading. JPMorgan has also greatly reduced its physical commodities business in 2014. Even Goldman Sachs dumped its coal-mining operation in 2015, but that was because of the market shift toward cleaner fuels and anticipating that their support for Hillary would lead to a reduction in coal mines.
So that is perhaps some perspective on insider trading, but selling off before Hillary crosses the threshold makes it only a good guess. Nonetheless, Goldman Sachs has confirmed that trading commodities is a “core” part of the firm’s business and they have no intention of getting out of that business.
Greenspan Sees Inflation or Stagflation? There is a Difference!
Armstrong Economics Blog
Re-Posted Sep 22, 2016 by Martin Armstrong
QUESTION #1: Marty, Greenspan reads you without a doubt. You warned back in 2012 that we have to be concerned about the USA moving into stagflation with deflation in Europe and Japan. He said the same on Bloomberg. He also said the crisis is the aging population, lower birthrate, and that will result in higher costs without economic expansion. That is everything you said two years ago.
QUESTION #2: Marty,
Deflation is gripping Europe but Greenspan warns of inflation in the USA.
Is he right? What are your thoughts?
ANSWER: Inflation, like deflation, is multifaceted. There is no single dimension for it is not black and white. Most of the debate concerning inflation is fixated upon this basic expectation assuming that increasing money supply must be inflationary. That is just flat outright WRONG! There are times we have Currency Inflation since everything has a true international value. If a currency declines, assets will generally rise in proportion to the decline as long as there is no political risk as to the collapse of government or military invasion.
It is astonishing to me how people who claim they are analysts, economists, or political scientists, were all seriously wrong about BREXIT. Not that it won at the polls, but the aftermath. Goldman Sachs, Morgan Stanley and Credit Suisse are just the top three banks who were all WRONG on their forecasts predicting of a post-referendum recession as trade deficit narrows. None of them understand capital flows. They have never spent a dime to even do historical research. They are only interested is a quick buck and nothing more. To them, the economy is control by the state so bribe them to get what you want to see is generally their motto.
Note that the day of BREXIT, yes the currency collapsed because of their forecasts. But the stock market rose that day. It did not collapse. This is CURRENCY INFLATION and these people are clueless when it comes to understanding real international capital flows. I have told the story before that I bought a 328 Ferrari in London for about £30,000 when the pound fell to $1.03. The same car in dollars was selling for about $50,000. The pound had been over $2 when Ferrari priced what they would sell that car for to Brits. Since the pound fell so hard, the Italians raised the price to £45,000. Then the pound rallied back to almost $2. I drove the car in London for about two years and then sold it used for about $50,000. This created the false assumption that a Ferrari was a great investment and people began buying and storing them. It was just the currency — not the car. The same thing took place with property in London. Americans rushed in buying everything.
I also ran to British Airways and asked how many open tickets they would sell me for the Concorde. They looked at me like some sort of dodgy person and could figure out why I would do such a thing. They came back and said 25. I said great. A round trip was £2,000. Back when the Concorde began, it was about a $5,000 ticket when a first class ticket was about $3,000. So the Concorde was overpriced and mostly empty. With the drop in the pound to par, it was now cheaper than a first class ticket. I bought as many as they would sell me. I got on the Concorde and suddenly it was full with Americans all saying what a deal.
CURRENCY INFLATION is not created by normal supply and demand conditions they teach you in school. Perhaps if you were not an international traveler as I have been, you would never experience it. I use to have an American Express card from every office we had around the world. I would pay in the currency of my choice depending upon the market. Today, American Express will only issue you a credit card where you are domiciled.
ASSET INFLATION is different again. This unfolds much like negative interest rates and it is the same mechanism that is creating it. This is when money fears government, banks, or whatever, and it seeks to get off the grid. It will run into property, stocks, gold, art, collectibles, or antique cars. People are buying bonds at negative yields because they are parking money. In Europe, they have been rushing into Germany assuming if the euro breaks, they will get Deutsche marks. However, what is Deutsche Bank fails and the government has to blink and back-off of this insanity of bail-ins? They will suddenly find their conservative bet on Germany will turn into a blood-bath.
The traditional view of inflation is DEMAND INFLATION where a shortage in supply will result in hire prices. But this assumes demand will not change. The whole theory of creating a monopoly is confined solely to this aspect. A Monopoly is actually impossible for if the assumption is prices can just be raised and people will have not choice.
Yes in “Debt is Destroying Everything. Where is Common Sense When We Need it the Most?” published August 19th, 2012 I wrote:
So we have to be concerned about STAGFLATION, rising costs with collapsing economic growth. We are living so far beyond our income that we are completely unconnected to any productive capacity. The debt can no longer be paid off. It is beyond several generations. Charles Dickens wrote in Little Dorrit that “[Credit is a system whereby] a person who can’t pay, gets another person who can’t pay, to guarantee that he can pay.”
Even the demographics are changing. As the older generation exceeds the working population, the Ponzi Scheme government established to pretend they would be there to take care of everyone are collapsing. This is why Obamacare is also collapsing. The youth are not joining the crowd. As the greater proportion of society is no longer productive, GDP declines while costs rise. This is the core of STAGFLATION. So we are not looking at inflation as we know in pre-1981.
Centinel2012 