Posted originally on Jan 12, 2026 by Martin Armstrong |
COMMENT:
We had a similar referendum past November initiated by the young extreme leftists for a 50% (!) inheritance tax for wealthy above $50m – despite the fact that we pay already a wealth tax every year!
Well Swiss people realised that the billionaires have feets and can walk away similar to what you write in the California case:
Some 84.1% of Swiss voters said no to the civic duty proposal, while 78.3% rejected the inheritance tax initiative.
REPLY:
Switzerland became wealthy precisely because it respected property rights, capital mobility, and legal stability. The moment you threaten those pillars, the entire foundation collapses. The nation caved to the European Union in 2015 and abolished banking secrecy, the primary reason that people chose to keep capital in Switzerland. Switzerland abandoned its neutrality stance on war for the European Union, but internally, politicians are looking to shake down citizens for money as their own policies have caused capital to flee.
In November, radical leftist groups pushed not one but two initiatives that reflected the same ideological fantasy now sweeping California, New York, and Brussels. One proposal demanded a 50% inheritance tax on fortunes above CHF 50 million, while Switzerland already imposes a wealth tax every single year. The other initiative framed redistribution as a so-called “civic duty,” attempting to dress up confiscation as morality. More than 84% of Swiss voters rejected the civic duty proposal, and over 78% rejected the inheritance tax.
Wealth taxes merely shrink the tax base, reduce reinvestment, and push entrepreneurs offshore. Inheritance taxes punish saving or building something intended to last beyond a lifetime. Switzerland currently has a decentralized inheritance tax system that attracts the wealthy. The nation has already lost its destination for capital by handing over all banking information to centralized governments. Adolf Hitler deemed it illegal for Germans to store money outside the country, leading the way to Swiss banking. Decades later, centralized governments deem it illegal to store money anywhere that they cannot track and tax it. Christine Lagarde began the SWIFT confiscation when she was the head of the IMF. Lagarde threatened all tax havens to turn over accounts or be removed from SWIFT. Not even Hitler violated the sovereignty of Switzerland where those in government today are far more ruthless and threaten other nations with ultimatums.
Why would the government be entitled to half of someone’s fortune? The government collects its share when you earn your wealth. They tax the assets you hold, tax capital once realized, levy your property annually, and then, even in death, the government demands more. Family businesses cannot operate long-term under these conditions, and to the government’s advantage, families cannot grow in power. Inheritance taxes are not designed to fund the government; rather, they are intended to prevent intergenerational wealth transfer and keep citizens dependent on the state.
Switzerland has begun phasing in the global minimum tax rate of 15% for multinational enterprises with revenues exceeding 750 million euros. A vote will be held this year to determine whether married couples should be taxed independently. VAT tax will be expanded to online digital services such as streaming platforms. Governments are assessing every possible angle to steal from citizens. The world will witness higher tax rates and excessive authoritarian controls on capital as we move toward the end of the current cycle.
Great Britain has caved to Islamist radicals to such an extreme extent that the United Arab Emirates (UAE) announced it must limit its funding for universities in the United Kingdom. The Muslim Brotherhood is active in the UK as the government refuses to ban the radical group. The UAE is legitimately concerned that young men will go abroad to the UK and return with radicalized, jihadist values.
The Under the Terrorism Act (2000) states that organizations can be banned if they are “concerned in terrorism.” A 2015 review found that the Muslim Brotherhood has an “ambiguous relationship with violent extremism,” meaning that the group as a whole cannot be disbanded. “The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism,” former PM David Cameron stated, with “possible” being the keyword. The UK decided to merely monitor the group despite known ties to terrorism. “Certain factions of the Muslim Brotherhood maintain a notably unclear relationship with violent extremism. Both as a doctrine and as a network, it has served as a pathway for some individuals and groups that have subsequently participated in violence and terrorism,” Cameron later said.
The joke Vance made about Britain being the first Islamist country to have a nuclear weapon was close to the truth. The sophisticated Muslim countries have long criticised the form of Islam we allow. Now they won’t send their kids to uni here in case they come back as terrorists. https://t.co/AQisFoxuLapic.twitter.com/sQMur8EvMV
The UAE, Egypt, Jordan, and Saudi Arabia banned the Muslim Brotherhood due to its threat to regional stability. Osama bin Laden, Ayman al-Zawahiri, and other well-known terrorists were radicalized in their youth by the Brotherhood. The group has openly funded Al-Qaeda, ISIS, and Hamas. Its sole purpose is to provide a bridge for young Islamists to integrate into jihadist groups.
Between 2023-2024, 70 students at UK universities were reported to the Prevent Deradicalisation Programme due to ties to “Islamist radicalization.” As such, the UAE will no longer recognize degrees from unapproved universities, limiting the list of potential schools for Emiratis. Abu Dhabi determined British universities needed to be completely excluded from state scholarships.
How could this happen in the UK? The global caliphate is seemingly opening headquarters in London where the government permits a “moral collapse,” as Nigel Farage has stated. “If you want to destroy the Muslim Brotherhood, you have to start in London,” Farage declared.Posted Jan 12, 2026 by Martin Armstrong
Posted originally on Jan 12, 2026 by Martin Armstrong |
The Department of Justice has opened a CRIMINAL investigation against Chairman Powell of the Federal Reserve. I have totally disagreed with trump on interest rates and he assumes that the Fed can just lower rates counter-trend to the world economy. I understand he is acting on what was taught in school under Keynesian Economics. But that has totally failed and even Keynes admitted before he died that he was wrong.
Using the Department of Just as the Biden Administration did against him is one thing when we are looking at the attempt by the Neocons to prevent him from office with the outrageous Russia Gate that they totally manufactured. But to allow the Department of Justice to use the criminal law to get interest rates lower is a new low. Powell stated:
“Those are pretexts,” Powell said. “The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the president.”
It was 75 years ago when President Truman sought to intimidate the Fed to cap interest rates because he wanted to wage war in Korea. It did not work. If Trump thinks he can replace Powell with a chimpanzee who does whatever he says, we are in for a real crisis post-2027. Jerome Powell’s current term as Chair of the Board of Governors of the Federal Reserve System ends on May 15th, 2026. The computer has been showing a sharp rise in volatility post May 2026. Trump will be confronted with the free market which he cannot control.
Posted originally on Jan 9, 2026 by Martin Armstrong |
The Russian Foreign Ministry on Thursday rejected the latest US-backed offering to end the Russia-Ukraine war, issuing a damming rebuff that illustrates that Putin would have to be insane to accept any peace deal at this stage in the game with Ukraine because it would NEVER resolve this conflict. Moscow’s Ministry of Foreign Affairs slammed the US-European proposal for security assurances for Ukraine, saying the protection plan amounts to “a true axis of war.” This is what I warned about on the Private Blog.
I warned that with the UK and France sending in troops as soon as a ceasefire is agreed was a guarantee that no such ceasefire would take place for this would be effectively sending in NATO troops into Ukraine. Europe has ZERO intension of EVER seeking peace or a normal relationship with Russia returning to the world economy. This is a guarantee of PERMANENT war. Russia’s comment was clear:
“The document turned out to be extremely far from a peace settlement. The declaration is not aimed at achieving a lasting peace and security but rather at continuing the militarization, escalation and further conflict aggravation.” “Its core element is the deployment of ‘a multinational force’ on Ukrainian territory that the coalition will have to form to contribute to the ‘rebuilding’ of the Ukrainian armed forces and ‘support deterrence’ following the cessation of the hostilities.”
The Ukrainian long-range strike campaign has continued hitting Russian oil, military and infrastructure targets. Importantly, for a 48-hour period this week, the Ukrainians were able to shut down all of the airports in the Moscow region and force the Russians to shut down their mobile phone networks across the same area. Given the massive population of the Russian capital, this will be noticed by the populace. Ukraine is is claiming it is defeating Russia shutting down Moscow’s airports and mobile networks for two days. That’s the action of a country with operational capability striking deep into enemy territory with impunity using targeting from the United States and UK. Clearly, this is like hiring a contract killer to eliminate someone and then claiming you did not pull the trigger. Ukraine has no long-range targeting capability without eyes in the sky.
The Venezuela Invasion:
The Monroe Doctrine was a cornerstone U.S. foreign policy statement, proclaimed by President James Monroe in his annual address to Congress on December 2nd, 1823. It declared the Western Hemisphere closed to future European colonization and interference, while pledging that the United States would not interfere in existing European colonies or in the internal affairs of Europe. Donald Trump has essentially asserted the same doctrine targeting both China and Russia to expel them from this hemisphere.
Ironically, to be objective, that justifies Russia taking all of Ukraine and it also justifies China taking Taiwan. We can’t have it both ways. But the Neocons see the US as dominating the world whereas Trump’s Chief of Staff Miller recognized that the world is divided among three empires – US, Russia, and China.
China’s Foreign Ministry has responded to U.S. President Donald Trump’s statement that he’d be “very unhappy” if Beijing attacked Taiwan.
“Taiwan is an inalienable part of China’s territory. How to resolve the Taiwan question is a matter for the Chinese ourselves. … This is China’s internal affair that brooks no external interference.”
What China will do now is most likely, if I were them, would impose a total embargo preventing anything from leaving or entering. I would suspect that it would take about 90 days. I would suspect that China has just been given the Green Light thanks to Donald’s Doctrine. They could act as soon as April.
The Tanker Seizure:
American Coast Guard and military forces (assisted by the UK) undertook a boarding operation to seize one of Russia’s shadow fleet tankers, the Bella 1, in the north Atlantic. This vessel was sanctioned by the U.S. under its counter-Iran sanctions, aimed at stopping Iran from fueling instability in the Middle East through the profits of illegal oil sales and was linked to international terrorism and crime including Hezbollah. Yet this is debatable. The ship went through the Suez Canal and a ship of this size could only do so if it was empty.
The United States with the aid of the UK just boarded and seized a Russian-flagged vessel on the high seas. Russia did nothing but the US agreed to send the two Russian crew members to Russia. This was clearly a strong-arm tactic against Russia. John Healey made the dumbest bullshit excuse I have ever heard in 50 years. How does an empty tanker on its way to Russia threaten Britain and the British people? This is the most absurd excuse I have ever heard. Then any empty tanker on its way to to or from Russia on the high seas threatens the British people?
The Strategic Message: Weakness Disguised as Strength
NATO is now claiming that Putin fired an Oreshnik at Lviv—a city less than 70 kilometers from the Polish border and NATO territory. The message was supposed to be: “We have hypersonic nuclear-capable missiles and we’re willing to use them close to NATO borders. Be afraid.” They are spinning this as Russia needed to demonstrate military capability because its credibility had collapsed across multiple theaters simultaneously. Venezuela, Syria, Iran—every Russian client is falling or under severe pressure. The shadow fleet is being seized. Ukrainian drones are shutting down Moscow. NATO insists that their military analysts are skeptical of Oreshnik’s actual battlefield value. While Putin keeps warning about nuclear war, they insist that this is all hype and pay no attention because they can take Russia with one hand tied behind their back.
The Oreshnik strike is the military equivalent of shouting “I’m still relevant!” while everyone watches Putin lose influence globally. NATO wasn’t impressed. EU foreign policy chief Kaja Kallas said the strike shows that “Putin doesn’t want peace” and called it “meant as a warning to Europe and to the U.S.” Kallas is as ruthless as Zelensky. She represents why there can NEVER be any peace with Russia.
Kallas has openly called for the destruction of Russia. She has stated that Russia is too big and needs to be broken up. She personally hates Russians not much different from Zelensky. This remains as a major obstacle to peace.
The U.S.-led efforts to end the war in Ukraine have entered a pivotal stage and is exposing that there will NEVER be peace between the EU abd Russia. This is critical. Peace negotiations are at this point pointless for the EU is seeking to install NATO troops into Ukraine under the pretense of peace-keeping when in fact it was Kiev that started this war 0 not Putin nor Russia.
John McCain, the godfather of Neocons, was there advocating the revolution in 2014 and lied to the people telling them this was about them and nobody else and it was about the peace that they deserved. There was peace with Russia. I believe McCain hated Russians because he was captured in Vietnam and was broken reading propaganda for the Vietnamese.
Robert McNamara admitted before he died that they assumed Russia was behind Vietnam but they were wrong. This has infected the Neocons who have grown up hating Russians all on a false assumption. This is what colored the Cold War and it is to this day warning that the European Union is seeking World War III because of people like Kallas who are wrapped up in personal hatred that she cannot see that she is condemning Europe and this EU experiment to its final destruction.
The Larger Pattern: The Cycle of Escalation
Russia used the Oreshnik missile on Lviv overnight January 8-9, 2026, hitting an underground gas storage facility in the first ballistic missile strike on Ukraine’s western region. This marks only the second use of Russia’s newest intermediate-range weapon system.Lviv is significant because it’s Ukraine’s westernmost major city—less than 70 kilometers from the border with the European Union. Hitting it with a nuclear-capable missile sends an unmistakable message to Poland, Slovakia, Hungary, and Romania: You’re within range despite NATO saying don’t worry.
But don’t be distracted by the technical capabilities or the psychological warfare. Focus on the strategic context: Russia deployed this weapon after suffering humiliating failures in Venezuela, Syria, and even Moscow itself. The strike represents Russia responding to the Donald Doctrine. NATO wants to claim this is an act of desperation or weakness. But this is boasting their strength and desire to invade Russia as soon as they can.
NATO insists that the mathematics show that Russia’s global position is weakening across multiple theaters simultaneously. Its client states are falling. Its deterrence is failing. Its economic warfare through shadow fleets is being countered. And its response is to fire expensive, irreplaceable missiles at gas storage facilities to prove it’s still dangerous.
However, if we assume that Russia is now weakened dramatically, then the behavior of a declining power trying to convince everyone—including itself—that it still matters is far worse. Like a wounded animal, it will fight to the death and is most dangerous when cornered. There are two sides to that coin.
The cycle suggests further escalation is coming. NATO likes to project Russia is just a injured fly to be swatted. When Kallas tried to threaten China to abandon Russia, Wang Yi respectfully stated that China had no intention of standing idly by and watching Russia lose. He stated that China believes that if Russia were defeated, the EU and NATO would turn on China next. This idea that the EU and NATO can destroy and break up Russia with no other impact is the linear thinking of madmen.
The NEOCONS have won. They used Ukraine to revive the Cold War that they want to make RED HOT. This has all been forecast by our computer and it is certainly nothing I would like to see. This is not my OPINION. I have long hoped that if I scream loud enough then perhaps I could prevent it. That has been a fool’s dream. I have never been able to defeat the computer yet.
Watch the next days carefully into February and then April followed by June/July. If peace talks are more likely to break down, and I would expect more Oreshnik strikes or similar escalatory moves. I just find it curious that NATO keeps claiming Russia is weak and there is no threat. They seem to be talking out of both sides of their mouth.
Posted originally on Jan 9, 2026 by Martin Armstrong |
California imposed an exit tax for those wishing to flee the state, but with insufficient funding and desperation to maintain tax revenue, the state is considering legislation that would steal a portion of one’s net worth and redistribute it to social programs.
The Billionaire Tax Act would impose a 5% tax on the total wealth of state residents with a net worth over $1 billion. There are around 250 billionaires currently living in California. The law will apply to anyone who resided in California as of January 1, 2026, which means it is too late to get out.
Net worth includes unrealized gains—stocks, businesses, real estate, collectibles, etc. California is treating paper valuations as if they were cash sitting in a vault, but net worth is merely an estimate when the valuation has not been realized or set. These items are subject to drastic fluctuations and now residents will be penalized for holding onto appreciating assets. Taxing a temporary illusion of worth assumes permanence when that is simply not the case.
Economies grow through investment, risk, and innovation. When you impose a levy on wealth, you force entrepreneurs to sell assets, slow investment, or exit entirely. The tech boom created 50 new billionaires in the state in 2025 alone. Why would aspiring entrepreneurs remain in a state that continually penalizes success? This class has the ability to mobilize at whim, but others do not, and it a guarantee that the state will soon come for those with less.
The wealthy generate wealth when they deploy capital into productive ventures. These are the people creating jobs and propping up local economies. You can never leave California without paying the exit tax, and now, you cannot amass wealth in the state without being subject to a large penalty. California has become extremely hostile to capital, hence the mass exodus of private wealth and businesses in recent years.
Legislators claim they can take in $100 billion in revenue from the tax that will allegedly go toward California’s imploding healthcare budget. California is a welfare state that operates outside of the federal capitalistic system. There are simply too many social programs to maintain and too many ignorant politicians who believe others should redistribute their wealth to float failing policies.
Posted originally on Jan 9, 2026 by Martin Armstrong |
President Trump signed a Presidential Memorandum directing the withdrawal of the United States from 66 international organizations, including 35 non-United Nations (UN) organizations and 31 UN entities, “that operate contrary to U.S. national interests, security, economic prosperity, or sovereignty.” America’s sovereignty was at risk under the past administration that partook in the Build Back Better globalist agenda. Taxpayers will no longer be forced to pay to prop up globalist causes that do not benefit them in any form.
The international community has used America as its piggybank, top financier since the end of World War II. Billions are sent overseas every year to organizations claiming to promote world peace and health through global governance. We have nothing to show for the money funneled out of the nation. World peace is certainly not a reality. There is no cohesive “international community” as every nation unbound to a centralized government is operating in a way that serves its best interests. These globalist organizations assess what each nation must pay them, with the US always on the hook for the highest contributions.
The American people voted for nationalism and domestic prioritization. These globalist agencies override democracy and do not coincide with traditional American values or interests. We saw the extent of their reach during the pandemic with regulations shifted society. Unelected officials created rules for everyone to abide by, and member nations, their pawns who pay for the privilege of being overridden, are gaining control.
Part of Agenda 2030 clearly dictates that America can no longer be a superpower; in fact, no one nation can be a superpower, as all power will be held by the elite few. These non-government, unelected entities are openly attempting to remove all human rights. The United Nations openly discusses how it will take sovereignty from all member nations. They believe that nations should give up sovereignty for anything they deem an emergency to push out their goal for the New World Order.
According to our models, the United Nations, as we know it, will come to an end by 2031, following the old League of Nations. Agenda 2030 and the Great Reset will fail. Individual nations are struggling to remain united; centralized government powerhouses cannot last. Civilization works only when we all benefit.
With every day that passes, we are edging closer and closer to 2032, where our computer is forecasting the collapse of our present form of Republican government, and the light at the end of the tunnel is that we get to hold another Constitutional Convention. This time, we get to correct all the mistakes of our Founding Fathers.
Tim Walz openly called for an insurrection and threatened to use the state National Guard to contest federal agents. “We do not need any further help from the federal government. To Donald Trump and Kristi Noem, you’ve done enough. I’ve issued a warning order to prepare the Minnesota National Guard,” Walz said in a press event. “We have soldiers in training and prepared to be deployed if necessary. I remind you, a warning order is a heads-up for folks,” Walz said. “Minnesota will not allow our community to be used as a prop in a national political fight.”
Walz mistakenly believes those “soldiers in training” are there to protect his own self-interests. State authority cannot override federal authority. The Minnesota National Guard would not openly start a Civil War by listening to Tim Walz over the Commander-in-Chief.
The governor announced he would not seek re-election amid the $9 billion and counting Somali-led scheme to defraud taxpayers under the guise of social programs. The recent ICE shooting in Minneapolis occurred less than a mile from where George Floyd overdosed during an arrest, and had there not been video evidence, the city would have burnt down once more. Guard units are currently on standby, while the Minnesota State Patrol has already mobilized members of its Mobile Response Team in anticipation of civil unrest. Walz asked residents to display “peaceful resistance” before threatening an actual civil war.
Tim Walz seemingly wants to go full scorched Earth before he exits politics. “Game’s over for [Republicans], now. It was all me, I was the bad guy or whatever, well, put up or shut up now and tell us what you’re going to do to make this state better,” Walz told reporters.
Walz is merely one example of a governor boldly defying federal law, inciting civil unrest, and displaying precisely why the United States cannot remain united. Other state leaders have barked back at Washington. The Democrats are losing favor with voters and becoming unhinged. These cracks will ultimately result in a full division of the United States as we move toward 2032.
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