Armstrong Economics Blog/Banking Crisis Re-Posted Mar 18, 2023 by Martin Armstrong
We are in the middle of a convergence of so many crises it is hard to keep track. The SWAMP in Washington has always been out of control. There is even a bill being introduced to make it illegal for congressmen and their spouses or family members to be trading on inside information. It is titled: The Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act. We go to prison for 20 years for what they do routinely. The Biden money payments from China will be the foundation of an impeachment proceeding. With all the Democrats did against Trump and are still at it, they have opened the door to what goes around comes around. Trump has announced the New York Democratic prosecutors are desperate to indict him in hopes of preventing him from running for President and that they will arrest him perhaps this coming week. Now the theory, since the taxes did not work, paying “hush” money to Stormy Daniels the porn star. When you have Biden taking money from China and Ukraine and everyone turns a blind eye, paying hush money to a porn star is far more important to the country?
The political nonsense that dominates a lot of boards of directors should be outlawed as fraud. The people on the board of SVB had ZERO experience in finance no less economic trends. All they do is pay mountains of cash to the Democrats and get put on boards for their political contacts. So many boards are stacked with political people, lawyers, or accountants, who have no experience in the financial markets or economic trends. If these people have ZERO experience in running a company, then they should be liable for their decisions.
We were called in by a major public company in Australia on a project to hedge their foreign exchange exposure. The quote we gave them was somewhere between $1 and $2 million back in the 1980s. They rejected it and said they would not pay more than the CEO was paid. They were clueless. I explained that we had dealing desks in Asia, the USA, and Europe and their book would have to be passed around the world 24 hours a day. They did not understand anything. They hired a 23-year-old kid to hedge their risk, he bought a Porsche and got into an accident, and while in the hospital they lost $80 million. Regulators then realized that directors should be held responsible for making decisions in things they had no experience.
We are headed into such COMPLEXITY it is off the charts. We have a convergence of so much going into April, it’s hard to say which fundamental will be the top dog. Between arresting Trump, and the revelations coming out about the Biden Crime Family, all of this contributes to the collapse in confidence in the government. Then Biden’s failure to understand the serious nature of this banking crisis and that it is the Biden Administration that is directly responsible for the crisis as it continues into April just added to the COMPLEXITY. Biden’s handling of SVB will now be seen as political since the phones were melting down from all the Democrats in California who stood to lose. Even Ophrah Winfrey had a ton of money in SVB. NBow the failure to stand behind all deposits everywhere will only make this look like a Democratic bailout.
Add to all of this, the ICC has shown that it too is politically corrupt and has been usurped by the Neocons. The ICC issued the bullshit criminal indictment of Putin orchestrated by the Neocons when in fact they have no such jurisdiction. The ICC has lost all credibility. ICC has jurisdiction ONLY over member states and that does not include the USA, China, or Russia. I reported that my sources on October 14th, 2022, were warning that the ICC was being politically manipulated not much different than the SWIFT monetary system. A team of lawyers in the UK filed a complaint with the Prosecutor of the International Criminal Court on behalf of the people. The report alleges that government officials, and pharmaceutical executives, have conspired with COVID. They did nothing.
The ICC can ONLY prosecute member states. The United States refused to join the ICC so no American can ever be tried for a war crime. The same applies to Russia, yet the ICC is trying to politically indict Putin to create World War III. The ICC has lost all integrity no different than the New York Prosecutors going after Trump for anything they can possibly find. Next will be his parking tickets.
I had dinner with people from the ICC and they acknowledged that the United States used its legal system for political purposes. They were stunning in my case. They also said they would love to bring charges against the United States for they routinely violate international law and engage in torturing people – remember waterboarding and Abu Ghraib.
In my case, I believe the banks told the CFTC to shut down our forecasting because they thought removing us would then allow them to manipulate markets. But they still blew up the world economy in 2007 and traders on the floor were calling it Armstrong’s Revenge. They never learn. They can bribe all the politicians, but that does not guarantee their trade. The CFTC refused to allow the forecasts to continue and insisted that all staff was to be fired worldwide. They rejected others offering to rent the Institute to keep it going. This was a FIRST AMENDMENT violation to shut down our forecasting to aid the corrupt banks.
The ICC told me at dinner that they would have loved to take my case, but since the US was not a member they could not bring charges against the US courts. That proves beyond a shadow of a doubt that this indictment of Putin is political and they have sold their soul to the Neocons. This was announced in hopes of threatening China with respect to their meeting with Russia to try to stop them from joining forces. The Neocons have now full control of the ICC and that prevents any peace negotiations going forward.
Then last November, the United Nations also surrendered its independence to the Neocons ensuring that we have no choice but to enter World War III. This is the agenda. The United Nations General Assembly has now adopted a resolution calling for Russia to pay war reparations for its invasion of Ukraine. This is to include the billions of dollars in damage and destruction, as well as reparations for the loss of life. The US refuses to provide any independent investigation into blowing up Nord Stream which was an act of international war. Instead, they attack the messenger. The UN simply wants to wash its hands in the blood of millions if not billions negative what it was entirely supposed to have been created for – world peace.
The world is now officially in control of the Neocons. Never in all my years did I ever expect looking at their long-range forecasts calling for a war that we would be the evil aggressors. We need the model to do its job here for we cannot even figure out on an opinion basis which fundamental will come out on top. We really desperately need members of Congress to recognize the real threat is within.