QUESTION: Mr. Armstrong; Nobody knows history better than you. Will QE continue if we end up in war? It seems there would be no choice.
Thank you for your very enlightening blog.
PG
ANSWER: Yes. The Fed was “directed” by the White House to carry out QE during World War II. They were to prevent interest rates from rising and the debt rose. That finally led to the Federal Reserve breaking with the White House after the war when they expected it to continue for the Korean War. That is when the Fed asserted its independence.
This time, we may have a different problem. As the war unfolds in Europe, the capital will flee as usual to the States. But the money supply will have to increase because the dollar will become the only viable currency still standing. That is why you are witnessing the pound and the euro collapse. Things will unfold differently this time. The Fed has been raising rates to fight inflation that will fail because this has to do with shortages – not speculation.
The October 3, 2022 Emergency Meeting was closed to public observation by Order of the Board of Governors because the matters fell under exemption(s) 9(A)(i) of the Government in the Sunshine Act (5 U.S.C. Section 552b(c)), and it was determined that the public interest did not require opening the meeting. That said, the Fed is faced with a triple crisis – liquidity, banking stability, and an inevitable Sovereign Debt Crisis. As interest rates have risen based on domestic inflation rates, simultaneously, the higher rates have undermined both European banks as well as Emerging Markets. The Federal Reserve has become the DEFACTO central bank of the world.
This is a crisis similar in part to 1927 when the European central banks lobbied the Fed to lower rates because of their debt crisis. They lowered rates to accommodate Europe and that was then blamed on the Fed for creating the 1929 boom. This is also why FDR then seized control of the Federal Reserve and move the head to Washington and made the Chairman subservient to the President.
I know so many blame the Fed for everything. They are actually facilitating Congress. The Fed has no control over fiscal spending or the debt level. In the end, it is really the debt that has become the money supply that simply pays interest.
There was no US paper money before the Civil War. The first issues of paper money were actually a hybrid bond – they paid interest. The term “greenback” developed for “demand notes” that came later as the cost of the war rose. They no longer paid interest so what was on the back was just green ink – no interest rate table to show what the note was worth.
I will be doing a full report on this subject for the WEC. It is complex, yet exceptionally interesting for what we face.
QUESTION #1: I live in the US. When the sovereign debt explodes, and I will “own nothing “, does that mean that any car, house or property that has a loan on it will become the property of the bank and or government? Does it mean property that is paid off and I hold the title or deed will be taken from me and I will have to pay “rent” to hold on to it? Please answer by my email or on one of your blogs.
Thanks for all you do.
MH
QUESTION #2: Would you ever consider running for politics? Your experience towers over everyone out there.
BB
ANSWER: No, I am not interested in getting into politics. I have always preferred to be standing behind the curtain. If I ever stepped in front, they would quickly figure out a way I could commit suicide with a remote rifle 100 yards away and you can bet the media will say absolutely!
Now insofar as the sovereign debt default, we are looking at governments collapsing which will take down banks that must retain reserves in government bonds. Klaud Schwab is an academic. He has ZERO real-world experience. His ideas will collapse just like Marx for the one element both ignore is human nature. It cost over 200 million lives for Marx to get his theory in place. Communism collapsed because without curiosity and freedom to explore, talk, and think, all advancement of society comes to an end.
Schwab’s idea will fail because the setup is different this time. Marxism succeeded because in Russia serfdom ended only during the 1860s. Therefore, the common people DID NOT own anything and it made sense to raid the rich. This time, people own houses and cars, and they save with pensions and to help their children. This time the common people would have to surrender all their assets so Schwab’s Marxist theories can be implemented.
It is a whole different board game this time around. Our computer has NEVER been beaten by anyone, even me. It sees the future because it is monitoring everything. So while people argue over what they “think” will happen, Socrates just plugs away and lacks that human emotion that interferes with objectivity.
The Internal Revenue Service (IRS) continually makes multi-billion-dollar mistakes. The agency “accidentally” sent $1.1 billion in advanced child tax credits to the wrong families. If a private citizen were to make a mistake on their personal taxes, they’d feel the repercussions – especially with Biden’s 87,000 newly appointed and armed agents.
Now 1.5 million families who received the money “accidentally” will be on the hook to pay it back. As if that were not bad enough, the IRS failed to deliver $3.7 billion in tax credits to 4.1 million households! The tax credit was intended as part of the reckless American Rescue Plan to pay families earning under $150,000 annually and single parents earning under $112,500. This was the largest child tax credit in America’s history – basically, people received “free” money at the expense of the taxpayers simply for having children.
This is the same agency that sent countless stimulus checks to people who did not qualify. Even multi-billionaire George Soros received a stimulus check. They even sent out checks totaling over $267 billion to deceased individuals. The IRS also “accidentally” leaked 120,000 personal online files earlier in the month. The agency continually makes major mistakes. Knowing that there will be 87,000 additional agents, armed, working for this failed agency does not put one at ease.
Posted originally on the conservative tree house on October 1, 2022 | stella
Macomb County Community College Sports & Expo Center 14500 Twelve Mile Road Warren, MI 48088
Timeline of Events:
8:00AM – Parking Lots, Vendor Row, and Registration Open 2:00PM – Doors Open 4:00PM – Special Guest Speakers Deliver Remarks 7:00PM – 45th President of the United States Donald J. Trump Delivers Remarks
COMMENT From Europe: Message: have any connections with either Russia or Ukraine and do not care if Donbas and Crimea belong to Russia or any other nation. Europeans just want to go on with their lives in peace but now have to pay a high price for the sanctions. People are starting to question the sanctions and want the gas to flow again. So the anger is turned against our own political leaders over the sanctions.
By destroying the pipelines people no longer can complain. So that also points to the climate zealots in the west being responsible for the sabotage and not Russia. How it was presented in the media also points to the west. It was a ready media package with the Danish air force taking pictures of the leak and Swedish seismologic data to show it was an explosion. The information was intended for us in the west. Look they have blown up the pipelines. And Germany was fast to say that the pipelines were destroyed forever and can not be fixed. Without any facts. Then the day after a spokesperson from the Nordstream company said they would investigate the damages after the gas has run out. Regards MS
REPLY: This is why being a student of history, I am not supporting Putin, or being a Republican against Democrats, or whatever other explanation some may try to apply. I am warning that we are being manipulated into war for ulterior purposes. Hermann Goring was asked at the Nuremberg trials WHY DID THE PEOPLE FOLLOW HITLER? His response was perfectly correct, despite the fact that many just preferred that the German people were inherently evil and different from the rest of the world. As he said, the very best outcome is you get to return home unharmed. He stated the truth “it is the leaders of the country who determine the policy and it is always a simple matter to drag the people along.”
This is simply the way it is. The leaders create all wars, NEVER the people. War is merely a continuation of politics that moves to violence. Like two guys arguing in a bar. Many times, one becomes so infuriated unable to win the argument verbally, so they begin to throw punches. What do we have to gain from war? Absolutely NOTHING other than hoping to return in one piece and we still have a home and family to return to.
The Prince of Savoy was one of the greatest generals who fought for many kings. He was the inspiration behind our Second Amendment – the right to bear arms. Why? He concluded that kings maintained standing armies at great expense. He argued that kings waged war simply to use their armies. Hence, he proposed that we all have the right to bear arms and that we have a militia military, not a standing army for that would lead to endless wars. He is correct. How many times has the US invaded some country under some honorable pretense? From the Weapons of Mass Destruction that never existed in Iraq to defeat Communism in Vietnam, where as many as 2 million civilians on both sides and some 1.1 million North Vietnamese and Viet Cong fighters died for an economic system that was collapsing all by itself.
Indeed, the French King Louis XIV’s last words on his death bed – “I have been too fond of war.”
We are plagued by world leaders who played too much with their toy soldiers. These are the real-life consequences of their games. They welcome war and have no desire for peace. There is not a single leader willing to even say – Hey, wait a minute!
Our computer has been pointing to 2023 as an absolute MAJOR crisis point in global geopolitics. The risk of international war is very real. These climate zealots are destroying our way of life the very same way that Karl Marx did which led to the death of over 200 million people between Russia and China. This time, it will be in the billions. The destruction of these pipelines may be cheered in private gatherings celebrating their victory over destroying the energy lifeline for Germany ahead of winter. They are counting on the people to pick up a gun and invade Russia. It most certainly looks to be civil unrest is coming and make no mistake about it, this was NOT Putin but intended to defund his ability to wage war.
Our models are definitive. I am merely the messenger – not the author. This gives me no pleasure whatsoever. This was the 2011 World Economic Conference held in Philadelphia that was filmed as part of the movie – The Forecaster. We were projecting it would all begin in 2014, which marked the Ukrainian Revolution and the US installation of the “temporary” UNELECTED government, which started the civil war invading the Donbas. So the people did not vote to even start that civil war. The West set that all in motion. Our computer had even targeted Ukrain would be where WWIII would begin. That was published back in 2013.
It is impossible for ANY individual to forecast such events CONSISTENTLY for decades. We are all human and just because someone was correct on one forecast based upon an “opinion” does not mean that they can forecast the future consistently. They have done everything they can to shut these forecasts out. The mainstream press will NEVER cover this because they how do they keep the line of talking heads? They have been told – do not report on this model – thank you! They never will. The governments must win. They exist to manipulate us stupid slobs to accomplish their goals.
As Goring said:“the people can always be brought to the bidding of the leaders. That is easy. All you have to do is tell them they are being attacked, and denounce the peacemakers for lack of patriotism.” There are no peacemakers left anymore!
The sabotage of the Nord Stream Pipelines was most likely accomplished with US intelligence. Not only is the Biden Administration intent on ending fossil fuels, but this was a strategic maneuver on how to wage war. Just as adversaries would counterfeit each other’s currencies in a desperate measure to undermine their economy to strip them of the ability to fund the war, blowing up these pipelines was a deliberate blow to inflict a death blow to the Russian economy they believe they have Putin on the ropes. Ending Russia’s #1 income, energy, they believe will undermine Putin and lead to a domestic revolution. The problem for the Russian people is that the West will NEVER accept Russia as an equal member. They indeed want to kill the bear completely.
Naturally, there are those claiming Russia blew up the pipelines. Just before this sabotage, Putin said to lift the sanctions and he will return the gas flow as reported on September 7th, 2022. There was NO POSSIBLE WAY that Putin sabotages those pipelines for that was his bargaining chip. That is now gone. He cannot now say lift the sanctions and I will turn on the gas. This was done by the climate zealots who have control of most Western governments. To even blame Russia is in reality proof that they know that this was a strategic play by the West most likely carried out with US intelligence.
The Minsk Agreement brokered by Germany and France was to allow the Donbas to vote on their separation from Ukraine. The West has totally renigged on all of that and this is intentional for the objective here is this Great Reset and the end of fossil fuels. Khruschev grew up there in the Donbas and was in charge of Kiev rebuilding it after World War II before he rose to the leadership of Russia. His successor was Brezhnev who was also born there in the Donbas. This has been occupied by the Russian people since the days of the Tsars. The border of Ukraine was NEVER Ukraine as a nation state. It was Drawn solely by Khruschev for administrative purposes. The Donbas and Crimea were always predominantly Russian
The West simply refuses to recognize that the people in that region are Russian and would naturally vote to join Russia for they are hated by the Ukrainians. In 2014, it was the West that installed a “temporary” government in Ukraine which was UNELECTED and they immediately upon orders from the USA, launched a civil war and attacked the Donbas.
This is so unnecessary and I cannot imagine any world leader before Biden would have DELIBERATELY set the stage for war with Russia. The problem is, Biden is not mentally competent. The climate zealots are running the White House. All they care about is destroying the world’s capacity to produce and utilize fossil fuels.
Unfortunately, our computer has NEVER been wrong on these major trends. It is the ONLY unbiased means of seeing the future for it is not based upon any human opinion for that is all any analyst has at his disposal right now. There is no question that these climate change zealots are out of control. They will kill more people than Marx could ever have imagined. World War III is materializing if we like it or not. We so desperately need a political revolution and vote these people out of their offices to overthrow all of these climate zealots controlling world leaders from behind the teleprompters to even hope to reduce the amplitude of what is on the horizon.
I have met and advised many world leaders. NEVER in my 40-year career have I EVER witnessed such an absurd group of world leaders who are just hurling the world into a major global war all over fossil fuels. There are no peacemakers. Like Biden, all they are doing is reading the word written by someone else. Biden is incompetent and will lead the world into disaster and the real sad part about it, he is clueless as to the risks he is putting the entire population of the world in over fossil fuels.
Posted originally on the conservative tree house on September 30, 2022 | Sundance
Hopefully this hotspot holds up. First things first, we are surrounded by the grace of a loving God, and we are thankful.
To begin updating day #2 on the ground in Southwest Florida (SWFL) allow me to please remind everyone to take these storms seriously and take all the advanced preparations needed to protect yourself and your family. You can never overprepare. Additionally, if you did evacuate from the area, stay where you are. There’s no need to come back into the recovery zone and there are virtually no utilities (electricity, water) operating in most areas.
Working today with a search and recovery team from Fort Walton Beach, Florida, there are multiple agencies from around the Southeast sending resources. We are incredibly grateful, and every resource is a blessing.
Day 2, while efforts continue, there are parts of the barrier islands (Sanibel, Pine Island, Matlacha and Fort Myers Beach) that are still inaccessible by anything other than air. There is an evacuation ferry operation running every 90 minutes from Sanibel (West side of where causeway used to be) to pull people from the island. 10am – 5pm
Matlacha (North end of Pine Island) is also a boat rescue operation after the bridge failed.
Incredibly, the historic Sanibel Lighthouse did survive the storm albeit with damage. The lightkeepers house is gone as are all the buildings around the Southern tip of the Island, but the Lighthouse is standing. There’s a metaphor and a message in that outcome.
Unfortunately, there are many people missing, and frantic out of state families looking for their loved ones. Hopefully, those missing were just last-minute evacuees that don’t know people are looking for them, and/or people with no way to communicate their status. Local radio stations are broadcasting names and addresses of missing persons in the hope that people can call in with information. This is why a communication plan is so critical for anyone in an extreme weather impact zone.
Search and rescue units are still working throughout Southwest Florida by air, boat and house-to-house searches. Some power and some water services have returned to the Eastern side of the impact zone, but as you go west (toward the coast) the power and water services are in much worse shape. [Tip: This is why garbage cans full of water are a part of the proactive planning. You can hydrate with bottled water, but you cannot clean without a stored potable water supply.]
The origination and transfer stations for electricity have been hit hard. There is no reason for linemen and pole diggers to be in the western zones because there is no infrastructure to trigger the origination of electricity. That’s why power will return in a systematic way from East (inland) to West (coastal). The thousands of power company employees are working on eastern impact areas where their efforts can restore power, while the longer engineering work of rebuilding transfer stations is happening in the west. Power will likely be out for several weeks in multiple areas.
Debris removal is about 50% throughout the zone. By ‘removal‘ I mean temporarily moved, shoved, pulled, cut or sawed out of the way. Again, the further West the more debris remains. Main roads are cleared, but local roads are blocked throughout. Stay close to home if you don’t need to travel or secure critical supplies.
Some food retailers have begun limited operation to open for the community. This will continue improving each day. Publix Supermarkets have generators running primary store functions.
There are nighttime curfews in affect throughout the Southwest Florida impact zone.
Fuel is a major problem, in part driven by the absence of power. A gas station without power is just a big underground gas tank. Most recovery teams are traveling with their own fuel supply.
Unfortunately, the heavy rains from north Florida are still flowing downstream into rivers and the flooding inland continues. The Peace River is expected to rise to a historic 24 ft above flood level; the previous record was just over 20 ft. Additionally, the current Myakka River flood has caused I-75 to close from North Port to Englewood.
Evacuations along the increasingly flooded inland waterways continue. Ian will be known as a storm carrying the deadly combination of wind and water as a storm event. Wind damage extreme, storm surge extreme, and river flooding (rain) extreme.
Janet, a 40-year-old single mom in a wheelchair, who just moved to SWFL a week ago, stranded on the second floor of her apartment building without power and without a community of friends to call for assistance. Her story is typical. Delivering food and supplies to people like Janet is a relief service anyone can handle. Radio networks are doing a great job using their format to organize local person to person assistance. Listeners are responding to each request; it is inspiring to see/hear the community pulling together. Fellowship lives here.
Alice, a 75-year-old woman without cash, and the only gas station she can find will only accept cash. Within seconds she is in line at the station with cash in her hand. This is what people do. Define living and you will find the light left by these comfortably invisible community stars. These are ordinary angels that defeat the looters by orders of magnitude.
There are many Janet’s and Alice’s right now, and fortunately there are overwhelming numbers of people responding to each call.
Yes, this is the fellowship part. Sweaty, perhaps a little scruffy, often accompanied by the smell of fuel-oil mix in the hug, but when you remove all class distinctions the remarkable human spirit that surfaces makes the back pain and callouses insignificant.
Electricity is nice, potable water even better, but perhaps fellowship is the most important part of the restoration process. At least, I think it is.
The desperation and worry on that unknown face tell me that you need my spot in line; here, take it.
I am not alone.
Every person reading this knows exactly what I am talking about without me even writing another word.
Life.
The best part.
Many people ponder the great universal questions of “why” these disaster events happen. I don’t have any idea.
Perhaps it’s just the way I’m wired, but I can only look at the immediate task at hand. Usually, I’m too busy focused on making the next the two feet of my immediate surroundings better, because looking at the hundreds of miles scares me. If I can make these next two feet in front of me better, then I will have accomplished something; and then – another two – and another two. Perhaps that’s my goofy way to deal with it.
However, when I think about fellowship and my community – perhaps we shouldn’t wait for hurricanes.
Posted originally on the conservative tree house on September 30, 2022 | Menagerie
For all our South Carolina Treepers, our prayers are with you. We hope all in the path of Ian are able to weather the storm well and safely. As you are able, check in and let us all know you guys are okay.
According to ABC news, Ian made landfall just after 2 p.m. today as a Cat 1 hurricane with winds at 85 mph.
I have created this site to help people have fun in the kitchen. I write about enjoying life both in and out of my kitchen. Life is short! Make the most of it and enjoy!
This is a library of News Events not reported by the Main Stream Media documenting & connecting the dots on How the Obama Marxist Liberal agenda is destroying America
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