QUESTION: Mr. Armstrong, I am 82 years old and ask the question which is much on my mind—- Where is the best place to park cash in this very difficult time. Right now almost all of my cash is in money market funds with the returns very low, yet there is still risk of loss. I simply do not know what to do—I am too old to take big losses, not enough time to recover.
ANSWER: Right now stay in cash. We will most likely see a change come May.
I hope he can actually do what he wants.
The Horn News
Jeff Sessions has big plans for these Obama pals
March 10, 2017
After eight years of scandal and lawlessness, it looks like the beginning of the end may finally be coming for former President Barack Obama’s cronies.
Appearing on Hugh Hewitt’s radio show Thursday, Attorney General Jeff Sessions told the conservative talk show host that a special prosecutor may be appropriate — and soon be needed — to investigate Obama-loyalists Eric Holder and Loretta Lynch.
Sessions was asked about the IRS targeting scandal, the “Fast and Furious” case, former Secretary of State Hillary Clinton’s email servers, and other Obama-era scandals that were swept under the rug by the former administration, and Hewitt suggested some kind of outside counsel could be appropriate because they’d have the “authority to bring charges if underlying crimes were uncovered.”
Sessions seemed open to the idea, promising he was “going to do everything…
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Term Limits are required if we are going to straighten out this mess.
March 11, 2017
TIME FOR CHANGE:
Help Trump drain the swamp with term limits.
From the Senate Conservatives Fund
Career politicians in Washington are destroying our country. The longer they are in office, the more they lose touch with the voters who elected them and the more they serve special interests.
And sadly, the longer they are in office, the higher they climb in leadership and the more control they have over our lives.
We must demand term limits now!!
Americans support term limits by wide margins and now we have President Donald Trump on our side.
We have a once-in-a-lifetime opportunity to pass a constitutional amendment limiting the number of terms politicians can serve in the House and Senate, but we must take action.
Please help us drain the swamp by signing the national petition to demand term limits.
The power of incumbency must be broken.
Over the last…
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Seems like a good deal… lol
The diplomatic scandal between Turkey and the Netherlands deteriorated overnight, when Prime Minister Binali Yildirim warned on Sunday that Turkey would retaliate in the “harshest ways” after Turkish ministers were barred from speaking in Rotterdam, leading to a major protest in front of the Turkish consulate in Rotterdam, while the Dutch embassy in Istanbul was closed off due to “safety concerns.”
“This situation has been protested in the strongest manner by our side, and it has been conveyed to Dutch authorities that there will be retaliation in the harshest ways … We will respond in kind to this unacceptable behavior,” Yildirim said in a statement.
Turkey’s Prime Minister Binali Yildirim
At the same time, continuing his ongoing tirade in which he has compared virtually all of his political foes to Hitler or Nazis, president Tayyip Erdogan said “Nazism is still widespread in the West” after the Netherlands joined other European countries worried about political tensions inside Turkey spilling beyond its borders that have prevented Turkish politicians from holding rallies.
As reported on Saturday, the Dutch government first barred Turkish Foreign Minister Mevlut Cavusoglu from flying to Rotterdam and later stopped Family Minister Fatma Betul Sayan Kaya from entering the Turkish consulate in the port city, before escorting her out of the country to Germany.
Dutch police used dogs and water cannon early on Sunday to disperse hundreds of protesters waving Turkish flags outside the consulate in Rotterdam. Some threw bottles and stones and several demonstrators were beaten by police with batons, a Reuters witness said. Meanwhile, Dutch officers carried out charges on horseback.
Protesters also gathered outside the Dutch embassy in Ankara and consulate in Istanbul, throwing eggs and stones at the buildings.
The Dutch government, which is set to lose about half its seats in elections this week as the anti-Islam party of Geert Wilders makes strong gains, said the ministers’ visits were undesirable and it would not cooperate in their political campaigning in the Netherlands.
Erdogan warned the Netherlands that “if you can sacrifice Turkish-Dutch relations for an election on Wednesday, you will pay the price,” during an awards ceremony in Istanbul. “I thought Nazism was dead, but I was wrong. Nazism is still widespread in the West,” he said. “The West has shown its true face.” Speaking to reporters before a public appearance in the northeastern French city of Metz, Cavusoglu said Turkey would continue to act against the Netherlands until it apologizes.
Meanwhile, Dutch Prime Minister Mark Rutte said he would do everything to “de-escalate” the confrontation, which he described as the worst the Netherlands had experienced in years. But he said the idea of apologizing was “bizarre”.
“This is a man who yesterday made us out for fascists and a country of Nazis. I’m going to de-escalate, but not by offering apologies. Are you nuts?” he told a morning talk show.
Supporting Rutte’s decision to ban the visits, the Dutch government said there was a risk of Turkish political divisions flowing over into its own Turkish minority, which has both pro- and anti-Erdogan camps. It cited public order and security worries in withdrawing landing rights for Cavusoglu’s flight.
Turkey fired back saying the Dutch ambassador to Ankara should not return from leave “for some time”. Erdogan is looking to the large number of Turks living in Europe, especially in Germany and the Netherlands, to help secure victory next month in a referendum that would give the presidency sweeping new powers.
Concerns about Turkey’s erratic diplomacy spread to Germany where Chancellor Angela Merkel said she will do all she can to prevent Turkey’s domestic tensions spreading onto German territory. Austria and Switzerland have also canceled Turkish rallies due to the escalating dispute. A senior member of her conservative bloc in parliament, Hans Michelbach, demanded on Sunday that the EU stop aid to Turkey and ruled out any hopes that it would join the EU. “There is no prospect of entry in the long run. Turkey is getting further and further away from the European Union. Support programs (that it gets as an EU candidate) are therefore a waste of taxpayers’ money,” he said in a statement.
In what may have been the harshest recent diplomatic takedown of Turkey, Michelbach said that “it is time that the EU stops performing like a diplomatic paper tiger towards Ankara. Europe must not be led by the nose round the Turkish election arena.” Needless to say, such a move would delight Putin as the Kremlin has been aggressively courting Erdogan and Turkey as Russia seeks to make headway with its new middle-eastern Axis which also includes Syria and hopes to add Iran.
In the near-term, however, the outstanding question is how will Saturday’s events impact Wednesday’s Dutch general election, and whether the diplomatic clash will boost votes for Geert Wilders. As Reuters notes, “the diplomatic row comes in the run-up to the coming week’s Dutch election in which the mainstream parties are under strong pressure from the far-right party of Geert Wilders.”
After Kaya, the Turkish family minister, was escorted out of the country, Wilders told her on Twitter “go away and never come back”.
Erdogan’s spokesman responded by saying the Netherlands had bowed to anti-Islam sentiment.
“Shame on the Dutch government for succumbing to anti-Islam racists and fascists, and damaging long-standing Turkey-NL relations,” presidential spokesman Ibrahim Kalin wrote on Twitter.
In a sign the row could spread further, the owner of a venue in Sweden where a senior official from Turkey’s ruling party had been due to hold a rally on Sunday canceled the rental contract, Turkey’s private Dogan news agency reported. The news agency said the owner had not given a reason for their decision. Cavusoglu also decided against traveling to Zurich, Switzerland, for an event on Sunday after failing to find a suitable venue. Zurich’s security authorities had unsuccessfully lobbied the federal government in Bern to ban Cavusoglu’s appearance.
Authored by Michael Snyder via The Economic Collapse blog,
Iran just conducted another provocative missile test, more U.S. troops are being sent to the Middle East, it was just announced that the U.S. military will be sending B-1 and B-52 bombers to South Korea in response to North Korea firing four missiles into the seas near Japan, and China is absolutely livid that a U.S. carrier group just sailed through contested waters in the South China Sea. We have entered a season where leaders all over the globe feel a need to rattle their sabers, and many fear that this could be leading us to war. In particular, Donald Trump is going to be under the microscope in the days ahead as other world leaders test his resolve. Will Trump be able to show that he is tough without going over the edge and starting an actual conflict?
The Iranians made global headlines on Thursday when they conducted yet another ballistic missile test despite being warned by Trump on numerous occasions…
As tensions between the U.S. and Iran continue to mount, the semi-official news agency Tasnim is reporting that Iran’s Revolutionary Guard has successfully conducted yet another ballistic missile test, this time from a navy vessel. Called the Hormuz 2, these latest missiles are designed to destroy moving targets at sea at ranges up to 300 km (180 miles).
Reports on the latest test quotes Amir Ali Hajizadeh, commander of the IRGC’s Aerospace Force, who confirmed that “the naval ballistic missile called Hormuz 2 successfully destroyed a target which was 250 km away.”
The missile test is the latest event in a long-running rivalry between Iran and the United States in and around the Strait of Hormuz, which guards the entrance to the Gulf. About 20% of the world’s oil passes through the waterway, which is less than 40 km wide at its narrowest point.
So how will Trump respond to this provocation?
Will he escalate the situation? If he does nothing he will look weak, but if he goes too far he could risk open conflict.
Elsewhere in the Middle East, things are already escalating. It is being reported that “several hundred Marines” are on the ground in Syria to support an assault on the city of Raqqa, and another 1,000 troops could be sent to Kuwait to join the fight against ISIS any day now. The following comes from Zero Hedge…
While the Trump administration waits to decide if it will send 1,000 troops to Kuwait to fight ISIS, overnight the Washington Post reported that the US has sent several hundred Marines to Syria to support an allied local force aiming to capture the Islamic State stronghold of Raqqa. Defence officials said they would establish an outpost from which they could fire artillery at IS positions some 32km (20 miles) away. US special forces are already on the ground, “advising” the Kurdish-led Syrian Democratic Forces (SDF) alliance according to the BBC.
The defence officials told the Washington Post that the Marines were from the San Diego-based 11th Marine Expeditionary Unit, and that they had flown to northern Syria via Djibouti and Kuwait. They are to set up an artillery battery that could fire powerful 155mm shells from M777 howitzers, the officials said. Another marine expeditionary unit carried out a similar mission at the start of the Iraqi government’s operation to recapture the city of Mosul from IS last year.
Meanwhile, China is spitting mad for several reasons. For one, the Chinese are absolutely furious that South Korea has allowed the U.S. to deploy the THAAD missile defense system on their soil…
China is lashing out at South Korea and Washington for the deployment of a powerful missile defense system known as the Terminal High Altitude Area Defense system, or THAAD, deposited at the Osan Air Base in South Korea on Monday evening.
The deployment of THAAD follows several ballistic missile tests by North Korea in recent months, including the launch of four missiles on Monday, three of which landed in the sea off the coast of Japan. Though THAAD would help South Korea protect itself from a North Korean missile attack, China is vocally protesting the deployment of the system, claiming it upsets the “strategic equilibrium” in the region because its radar will allow the United States to detect and track missiles launched from China.
Of course the U.S. needed to do something, because the North Koreans keep rattling their sabers by firing off more ballistic missiles toward Japan.
But it is one thing to deploy a missile defense system, and it is another thing entirely to fly strategic nuclear bombers into the region.
So if the Chinese were upset when THAAD was deployed, how will they feel when B-1 and B-52 bombers start showing up in South Korea?…
Earlier this week, trigger-happy Kim pushed his luck once more when he fired off four ballistic missiles into the seas near Japan.
Now US military chiefs are reportedly planning to fly in B-1 and B-52 bombers – built to carry nuclear bombs – to show America has had enough.
South Korea and the US have also started their annual Foal Eagle military exercise sending a strong warning to North Korea over its actions.
A military official said 300,000 South Korean troops and 15,000 US personnel are taking part in the operation.
The Trump administration has openly stated that all options “are on the table” when it comes to North Korea, and that includes a military strike.
It has been more than 60 years since the Korean War ended, but many are concerned that we may be closer to a new Korean War than we have been at any point since that time.
And of course our relationship with China is tumbling precariously downhill as well. Another reason why the Chinese are extremely upset with the Trump administration is because a U.S. Navy carrier battle group led by the USS Carl Vinson sailed past islands that China claims in the South China Sea just a few weeks ago.
In China, the media openly talks about the possibility of war with the United States over the South China Sea. Most Americans are not even aware that the South China Sea is a very serious international issue, but over in China this is a major focus.
And the U.S. military has recently made several other moves in the region that have angered the Chinese…
Also in February, the U.S. sent a dozen F-22 Raptor stealth fighters to Tindal AB in northern Australia, the closest Australian military airbase to China, for coalition training and exercises. It’s the first deployment of that many F-22s in the Pacific.
And if that didn’t get the attention of the Chinese government, the U.S. just tested four Trident II submarine-launched ballistic missiles during a nuclear war exercise, sending the simulated weapons 4,200 miles from the coast of California into the mid-Pacific. It’s the first time in three years the U.S. has conducted tests in the Pacific, and the first four-missile salvo since the end of the Cold War.
I can understand the need to look tough, but eventually somebody is going to go too far.
If you are familiar with my work, then you know that I believe that war is coming. Things in the Middle East continue to escalate, and it is only a matter of time before a great war erupts between Israel and her neighbors. Meanwhile, U.S. relations with both Russia and China continue to deteriorate, and this is something that I have been warning about for a very long time.
We should hope for peace, but we should also not be blind to the signs of war that are starting to emerge all over the planet. Relatively few people anticipated the outbreak of World War I and World War II in advance, and I have a feeling that the same thing will be true for World War III.
QUESTION: Why couldn’t Trump turn the Budget crisis into an opportunity and simply tell the American people that we have a budget cap and we will live within it and scrap temporarily his grandiose plans for big tax cuts and job creation. This would also put a lid on wild spending by politicians.
ANSWER: Trump should hold an address to the people like his news conference, but he has to realize the press is out to destroy him. Holding anything during the day only allows the press to pick it apart and show soundbites. As far as lowering the corporate tax to 10% one time to bring the money home, will create a boom and jobs. Boosting tariffs to support noncompetitive jobs at home will not work.
The healthcare crisis is tearing the country apart and this is the greatest depressant upon the economy. Obama shifted the costs to the youth to fund effectively illegal aliens. As far as people who cannot get insurance for some disability, I have a personal friend who was a Vet and was injured in a car accident. He has a pump inside him for pain management just to be able to walk. They say if he earns even $1, he will lose all benefits. The system is so screwed up, it is hard to fix something that really should be scrapped entirely and start fresh. The Democrats will defend Obamacare as will the press even though this is what is raising the costs of labor. Small businesses can’t keep up with the constant rise in healthcare costs and then Obamacare wanted to tax any benefit you get as income.
I became friends with Maggie Thatcher because I was restructuring Japanese companies to get into Europe. If they needed skilled labor for manufacture I was placing them in Britain. She wanted to meet the guy who was creating all these jobs in Britain. When she asked me why, I explained the the cost per employee was 40% less in Britain compared to Germany and it was the regulations and benefits that were the burden, not the wages. Employees never see those costs to an employer.
Those in Washington are just so far gone it will take a crash & burn to set things right. The mainstream media simply support the Democrats for that is what their boss directs them to do. There is no honest review or anything but propaganda. I am pessimistic that Trump will rise to the occasion for his policy on bringing home manufacturing jobs just does not make any sense.
Then you have the extreme left-wing Democrats who send me such hate mail you wonder if you need to hire a bodyguard. There is no possible way these people will ever be reasonable. They will blame Trump for every evil of the postwar era. I really do not see how we can prevent a disaster. That is why I gave up. The best thing we can do is understand the crisis, let history repeat, survive the chaos, and then try to put our two-cents in when the dust settles. There are just too many greedy hands all grabbing for the same piece of the pie. Only a sublime fool believes that if they can just get rid of Trump everything will be fine. I just hope he is not another casualty of history as was Herbert Hoover who was elected on November 6, 1928 and was blamed for the Great Depression that began 9 month after taking office. The incumbent President Calvin Coolidge chose not to run for a second full term.
QUESTION: Dear Mr. Armstrong, as a daily reader of your blog I noticed the recent comment on the norweigian real estate market. You wrote that it was capital flight from the eurozone that made the prices go higher. Parking, not speculation, It seemed, in the light of everything, as a very natural development. As the Euro has been rising against the Krone, it would give Euro buyers some extra space to buy too. My question though is if the swedish real estate market is similar? Here in Sweden we have the common people buying too, with wages still pretty strong, fairly low unemployment and low interest rates on mortgages. This has resulted in highly leveraged households. Domestically “everyone” believes in rising real estate prices. Is this a bubble (with the majority preaching new highs), or is it similar to the norweigian situation?
Btw, I will, with excitement, attend your conference in Hong Kong this year.
Kind regards
PM
ANSWER: There are two distinct faces of real estate buyers. First, we have the capital flight as in Norway. They are using the property market as a place to park money. This is why they do not even both to rent them out. This trend has also engulfed most of the major cities such as New York and Miami where the IRS in the States demands that the true owner be revealed. In Australia, they made a criminal act for a foreigner not to disclose he owns property. We see the same in Toronto and Vancouver. The rural areas have not recovered from the crash in 2007-2009. In the States, this tends to be a bit steeper because it was the focus of huge leverage sold by the banks.
The other side of the market are the people who also are starting to buy property as a hedge using the low interest rates. The pessimism in Europe is reaching epic proportions. It is quickly becoming that the majority fear the breakup of the EU and the collapse of the Euro. This is also manifesting in the sharp rise in demand for physical paper dollars. First it was the fall of Communism 1989-1991. Then it expanded and has extended into Europe in general. Europe does not have the over-leveraged property that USA ended up with as a general rule. This is also reflected in the shorter mortgage duration in places like Canada and Europe. So at this point, any real gains in purchasing power may not really materialize in Europe, but it may appear to gain in nominal terms. Then there was the speculation that housing prices would rise because of the influx of refugees.
All of this said, the continued rise in demand for paper dollars outside the USA has actually surged after Trump was elected. The pattern clearly shows the trend has changed at the high is not isolated by a triple top. This warns from a pattern recognition perspective, that the monetary base will rise to new record highs.
Consequently, it is reasonably estimated that more than 40% of US paper currency now resides outside the USA. There are more than 300 million people traveling through the US border and there is no means to track the currency outflow in actual paper dollars. When communism fell, dollars became the number one circulating medium of exchange in Russia and China. The Federal Reserve Bank of New York, in collaboration with Citibank and Republic National Bank of New York of Edmond Safra, shipped out of the USA physical dollar bills worth $348 billion. The called it the Money Plane. There were even Congressional hearings on the exportation of dollars to foreign lands. History repeats because the passions driving mankind never change. We have witnessed the dollarization of the world economy.
The Federal Reserve in the States is well aware that the dollar has become a global currency and its demand outside the USA has been increasing sharply since 2007-2009. This we see this trend reaching a peak as early as 2020. The Fed itself states: “U.S. currency has long been a desirable store of value and medium of exchange in times and places where local currency or bank deposits are inferior in one or more respects. Indeed, as noted in earlier work, a substantial share of U.S. currency circulates outside the United States. Although precise measurements of stocks and flows of U.S. currency outside the United States are not available, a variety of data sources and methods have been developed to provide estimates.”
This also warns that the confidence in the euro among the average person in Europe has declined with the political turmoil.
I have created this site to help people have fun in the kitchen. I write about enjoying life both in and out of my kitchen. Life is short! Make the most of it and enjoy!
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