Armstrong Economics Blog/ECM Re-Posted Jan 6, 2021 by Martin Armstrong
We are losing everything. New York State has proposed Assembly Bill A416, which allows the governor to lock you up. They may also lock-up any person in your family with whom you have had any contact on the mere SUSPICION that you have been infected with any disease the governor, in his sole capacity, determines may pose a threat to society. At this point, if you are a Republican, you are already a threat to the new world order they are planning.
Meanwhile, the IMF has bluntly come out and explained that banks with branches are no longer necessary and this is why BigTech has been blocking Republicans because they have been promised worldwide banking rights. On top of that, your credit standing will no longer be based solely upon your income and how fast you pay your bills. They are now saying that they will also incorporate what type of person you are by looking at whatever you have posted on social media. If you are a subservient sheep, no problem. If you have an independent mind, you are not worthy of credit. The IMF states:
“New types of information
The most transformative information innovation is the increase in use of new types of data coming from the digital footprint of customers’ various online activities—mainly for credit-worthiness analysis.
Credit scoring using so-called hard information (income, employment time, assets and debts) is nothing new. Typically, the more data is available, the more accurate is the assessment. But this method has two problems. First, hard information tends to be “procyclical”: it boosts credit expansion in good times but exacerbates contraction during downturns.
The second and most complex problem is that certain kinds of people, like new entrepreneurs, innovators and many informal workers might not have enough hard data available. Even a well-paid expatriate moving to the United States can be caught in the conundrum of not getting a credit card for lack of credit record, and not having a credit record for lack of credit cards.
Fintech resolves the dilemma by tapping various nonfinancial data: the type of browser and hardware used to access the internet, the history of online searches and purchases. Recent research documents that, once powered by artificial intelligence and machine learning, these alternative data sources are often superior than traditional credit assessment methods, and can advance financial inclusion, by, for example, enabling more credit to informal workers and households and firms in rural areas.
New communication channels
Communication innovation is driven by the variety of digital platforms in social media, mobile communication, and online shopping that have penetrated much of consumers’ everyday lives, thus increasing their digital footprint and the available data. Platforms like Amazon, Facebook or Alibaba incorporate more and more financial services into their ecosystems, enabling the rise of new specialized providers that compete with banks in payments, asset management, and financial information provision.
Technology again boosts an existing trend. The shift from in-person bank branch visits to remote, online communication generally improves customer convenience and makes financial intermediation more cost-efficient. It also boosts geographic competition among banks, which can now service more distant customers.
The effects of digital transformation are powerful for the financial sector, already the industry most heavily reliant on computers. That is compounded by the doubling in use of online banking having in the past two decades in the European Union’s 15 largest economies. And with usage at 50 percent on average, it still has significant room to grow.”
I STRONGLY advise if you can, get the hell out of New York while you can. I have written before I opened an account at Bank of America because it was the closest bank to me. That branch never reopened. The people who voted for Biden have surrendered ALL their rights, privileges, and immunities for themselves, their families, and their posterity. I have been warning that our model did not merely project that Trump would win in 2016 and the 2020 election would be the most corrupt election in history, but we would enter a new period of authoritarianism from 2020 into 2032.
I know a lot of people who voted for Biden read this bog. I have tried to make it clear that this was NEVER a match between Trump and Biden. This has been between Trump and a Global Cabal. I get to check out of this world soon. What I fear is what I leave behind for my family. This election was STOLEN and I do not say that as a Republican. This was a strategic play they needed to pull off because they have already conquered Europe and Canada. They needed the USA for military power.
I have also explained many times that I use to vet people who wanted to run for president up until 1999. I was asked to fly to Texas to meet with George Bush Jr but I was told this was “different” because he was “stupid!” Indeed, you never see him running around giving lectures like Obama. When I asked why they would make someone “stupid” president, I was told he had the name. Biden is the same thing. I seriously doubt he is even aware of their plans and they got the perfect guy for the job.
They are deliberately trying to end small businesses because they are independent thinkers and employ 70% of the civil workforce. They need the people to be on Guarantee Basic Income to control the population because the socialist system is collapsing. They can no long prop-up the system so they need a new one. The new founding father will be Bill Gates funding this new age of authoritarianism. He was the funder of Imperial College which began with the recommendation to lock down the world economy by Neil Ferguson. He has usurped every median organization from the WHO to FDC, CDC, and Fauci. Locking down the world economy was supposed to reduce CO2.
Despite the destruction of the world economy, CO2 did not decline. What is the next solution? Kill our pets, animals, and everyone who does not fit Gate’s eugenic goals?
How much longer will it take for the sheep to wake up? The noose is already around their neck. They seem too stupid to open their eyes.