Armstrong Economics Blog/Politics Re-Posted Nov 16, 2020 by Martin Armstrong
The problem we will face if Biden wins is that the Democrats are hell-bent on not just raising taxes, but demonetizing the dollar to end hoarding of cash, which is what other countries are demanding behind closed doors. Wall Street backed Biden, not Trump, as they did with Hillary. This was the most expensive election in history costs $6.6 billion compared to $2.4 billion in 2016. Black Rock’s Flint is tipped to be Biden’s Secretary of Treasury – but he has no idea what he is stepping into.
My biggest concern is the move to end democracy and what Buttigieg is suggesting is the very structure of Europe where the head of states DOES NOT stand for election but is selected by political leaders. We are the great unwashed, and the real driving force is to strip us of our freedom and our right to even vote. I have been warning that Socrates has been pointing to the end of elections. This is becoming a very serious trend. We are just too stupid to be trusted with any right to vote.
This begs the question, how will capital flows deal with this nightmare? Normally, we have witnessed a capital flight from one region to another. World Wars I and II sent capital fleeing to the dollar, thrusting it up to the reserve currency of the world at Bretton Woods since the USA then held 76% of the official world gold reserves. This time, we face a problem. If the Democrats join this Schwab-Gates-Soros conspiracy of the Great Reset, as Trudeau has on behalf of Canada, the dollar itself may simply be replaced by dollar-based assets. It may also begin to flee to Asia.
Digitizing the dollar and canceling the paper currency around the world is indeed going to change everything. But Schwab says you will own nothing and be happy by 2030. That is his and Thomas Piketty’s dream — Communism 3.0. In that case, they simply confiscate everything. But canceling the dollar which is the only hedge many have against hoarding their own currencies which are routinely canceled will severely disrupt the world economy. This single act will send capital to private assets, then we need to be worried about Schwab’s 2030 agenda. Wall Street’s greed just may find they funded their own demise.
This reminds me of more of the Roman Emperor Maximinus (235-238 AD) who simply declared that all private wealth belonged to the state. That did not end well for him. His own troops eventually turned against him, beheaded him, and sent his head to the Senate of Rome to show their new loyalty. A lot of people died in the process as always whenever we have these attempts at
It is highly questionable what is going to unfold. It is probably up to the Supreme Court once again, but will they uphold the fake election or do what is right and call a fraud a fraud. Those who just voted for Biden because they did not like Trump are about to see what “representative” government is all about – tyranny! They run pretending to stand for something and when they are in, they waive all your rights. Nobody has dared to put Schwab’s 2030 agenda on the ballot. We are never allowed to vote on such matters. Our representative decided usually based on who pays them the most. No matter what they decide, we are headed toward extreme violence.
The question will become: Where to put assets?