Armstrong Economics Blog/Ancient History
Re-Posted May 15, 2019 by Martin Armstrong
QUESTION: Martin, Compared to Roman timeline, what year would you say we are in 2019?
ANSWER: It is hard to say. My concern is what comes after Trump. We seem to be between the peak, which was during 180 AD and the dawn of Maximinus I (235-238 AD) who declared that all wealth simply belonged to the emperor in a communistic fashion. What took place, however, was the complete breakdown of society. Wealth was driven underground and money was hoarded causing VELOCITY to collapse as cash flow in circulation vanished and hoarding prevailed. We certainly have this post-2007 in the FATCA age where the money is the target and governments declare any money outside their borders is to be confiscated as money laundering. Hitler did the same thing which inspired the Swiss secrecy laws.
Maximinus’ confiscation of wealth caused the economy to implode as commerce ceased fostering an economic depression, which naturally reduced tax revenues. The same thing has taken place for economic growth, even with massive QE for the past 10 years, remains 20% at best below pre-FATCA levels. Maximinus did not stop with simply private wealth. Maximinus ordered the wealth of all temples to be confiscated as well. We have states arguing for the confiscation of 401Ks led by California. This is why the smart money is leaving California in a mass migration to the non-taxes states such as Texas and Florida.
Maximinus confiscated the ornaments of temples. Both Napoleon and Henry VIII followed that same path as did Hitler. Countless died in defense of their religious beliefs. Not even the gods were respected by Maximinus whose view was they never answered prayers because they did not exist. This is not something which is even off the table. The IMF threatened the Vatican to deny it access to the SWIFT system shutting down unless it also agreed to report the origin and destination of all movements of money.
We can see that the Democrats are demanding Trump’s tax returns. For what purpose? This is simply for personal use for the 2020 presidential election. What would this even have to do with Russia? There is no hope of returning back to the days when government functioned. It seems that we are cascading toward complete collapse. The danger after Trump is that we may move toward an authoritarian form of government.