Category Corruption Codel

Mar 9 2022

Yelen’s Comments of Biden’s Order to Regulate Cryptocurrency


Armstrong Economics Blog/Cryptocurrency Re-Posted Mar 8, 2022 by Martin Armstrong

WASHINGTON –  U.S. Secretary of the Treasury Janet L. Yellen released the following statement on President Biden’s executive order on digital assets.

“President Biden’s historic executive order calls for a coordinated and comprehensive approach to digital asset policy.  This approach will support responsible innovation that could result in substantial benefits for the nation, consumers, and businesses.  It will also address risks related to illicit finance, protecting consumers and investors, and preventing threats to the financial system and broader economy.

Under the executive order, Treasury will partner with interagency colleagues to produce a report on the future of money and payment systems. We’ll also convene the Financial Stability Oversight Council to evaluate the potential financial stability risks of digital assets and assess whether appropriate safeguards are in place. And, because the questions raised by digital assets often have important cross-border dimensions, we’ll work with our international partners to promote robust standards and a level playing field.

This work will complement ongoing efforts by Treasury. Already, the Department has worked with the President’s Working Group on Financial Markets, the FDIC, and OCC to study one particular kind of digital asset – stablecoins– and to make recommendations. Under the executive order, Treasury and interagency partners will build upon the recently published National Risk Assessments, which identify key illicit financing risks associated with digital assets.

As we take on this important work, we’ll be guided by consumer and investor protection groups, market participants, and other leading experts.  Treasury will work to promote a fairer, more inclusive, and more efficient financial system, while building on our ongoing work to counter illicit finance, and prevent risks to financial stability and national security.”

Mar 9 2022

Farage Warned Everyone We Were Moving to War with Russia in 2014


Armstrong Economics Blog/War Re-Posted Mar 8, 2022 by Martin Armstrong

Mar 9 2022

Just Try to Listen to Both Sides


Armstrong Economics Blog/War Re-Posted Mar 8, 2022 by Martin Armstrong

COMMENT: Nothing Putin ever says is true. You are on the wrong side.

SF

ANSWER: I understand you are all caught up in the heat of the moment. But just stop. Think clearly and stop making presumptions. Putin’s speech at Davos was excellent but nobody will listen. He was correct. We MUST stop judging countries by problems of previous governments. Otherwise, we should still look at Britain as an enemy.  He actually hit the nail on the head. NATO would not exist unless they retain Russia as an enemy. Putin even proposed to join NATO with the Clintons and they said no way.

He has said the US was developing biological weapons in Ukraine on its borders and Nuland has indeed confirmed that. China has made the same allegation that the US has been developing biological weapons on its border. The West does not always tell the truth either. You need to keep an open mind, stop being psychologically manipulated, and look at the issues face value without a predetermined outcome.

If we do not do this, the hotheads will bring rain down upon us all with nuclear weapons for someone will push the button if they are about to lose. We need a peace maker – not a warmonger.

Mar 9 2022

Leaders of Saudi Arabia and the United Arab Emirates Refuse To Take Biden Phone Calls, Both Spoke to Vladimir Putin


Posted originally on the conservative tree house on March 8, 2022 | Sundance

Remember when Joe Biden tried to claim, because of his election, the U.S. was respected again?  Yeah, well, not so much.

Apparently, the Biden administration planned to go hat in hand to the Middle East for help with oil production.  However, Saudi Arabia and the UAE refused to even take Joe Biden’s calls.

(Wall Street Journal) […] Saudi Crown Prince Mohammed bin Salman and the U.A.E.’s Sheikh Mohammed bin Zayed al Nahyan both declined U.S. requests to speak to Mr. Biden in recent weeks, the officials said, as Saudi and Emirati officials have become more vocal in recent weeks in their criticism of American policy in the Gulf.

“There was some expectation of a phone call, but it didn’t happen,” said a U.S. official of the planned discussion between the Saudi Prince Mohammed and Mr. Biden. “It was part of turning on the spigot [of Saudi oil].”

[…] One U.S. official said the Biden administration has worked diligently to strengthen Saudi and Emirati missile defenses, and that America would be doing more in the coming months to help the two Gulf nations protect themselves. It may not be all the two countries want, the official said, but the U.S. is trying to address their security concerns.

But the Saudis and Emiratis have declined to pump more oil, saying they are sticking to a production plan approved between their group, the Organization of the Petroleum Exporting Countries, and a group of other producers led by Russia. The energy alliance with Russia, one of the world’s top oil producers, has enhanced OPEC’s power while also bringing the Saudis and Emiratis closer to Moscow.

Both Prince Mohammed and Sheikh Mohammed took phone calls from Russian President Vladimir Putin last week, after declining to speak with Mr. Biden. (read more)

MBS and Sheikh Mohammed are not blind.  They know the Obama-Biden teams support the Muslim Brotherhood who are the political wing of the Islamic extremist figures creating unrest in the Middle East.

Mar 9 2022

Blinken and Biden Fold, Pentagon Rejects Poland Offer for United States to Start World War III


Posted originally on the conservative tree house on March 8, 2022 | Sundance

Ha-Ha-Ha… Oh, the Biden administration is not happy with Poland. Not happy at all.

Earlier this afternoon, Poland called Secretary of State Anthony Blinken’s bluff, over the U.S. claims that Poland was going to send fighter jets into Ukraine.  This followed Sunday’s announcement where Poland said the U.S. State Dept was lying.

Earlier today, Poland said they would give the U.S. the planes if Blinken and Biden wanted to start World War III, but Poland wasn’t going to help the U.S. create a war with Russia.  This put the U.S. in a ‘put up or shut up’ position.  Well, Blinken and Biden just folded, per the Pentagon:

Pentagon – We are now in contact with the Polish government following the statement issued today.  As we have said, the decision about whether to transfer Polish-owned planes to Ukraine is ultimately one for the Polish government.  We will continue consulting with our Allies and partners about our ongoing security assistance to Ukraine, because, in fact, Poland’s proposal shows just some of the complexities this issue presents.

The prospect of fighter jets “at the disposal of the Government of the United States of America” departing from a U.S./NATO base in Germany to fly into airspace that is contested with Russia over Ukraine raises serious concerns for the entire NATO alliance.  It is simply not clear to us that there is a substantive rationale for it.  We will continue to consult with Poland and our other NATO allies about this issue and the difficult logistical challenges it presents, but we do not believe Poland’s proposal is a tenable one.  (read more)

Well played Team Poland, well played!

Mar 9 2022

Under Secretary Victoria Nuland Admits U.S. Funded Biological Research Labs Exist in Ukraine


Posted originally on the conservative tree house on March 8, 2022 | Sundance

Earlier today, Under Secretary of State for Political Affairs, Victoria Nuland, was testifying before the Senate Foreign Relations Committee (SFRC) on Russia’s invasion of Ukraine.  The Senate Foreign Relations Committee is the legislative branch body who works with the executive branch State Dept to launder money through foreign nations.  The Senate is the bank, the State Dept is the collection agency.

One of the members of the SFRC is Marco Rubio, also the vice-chairman of the Senate Select Committee on Intelligence (SSCI).  Keep this point at the front of your reference.  Senator Rubio has a specific intent when he asks Ms Nuland publicly about biological weapons labs in Ukraine.

Don’t get so caught up with the nervous admission by Under Secretary Nuland, that you miss the purposeful intent of Rubio in getting out in front of a story that could be more troublesome for the Fourth Branch (intelligence apparatus).  Rubio would not make this public remark, if he wasn’t ¹intending to dilute a bigger issue.  WATCH: 03:35 prompted

48 hours ago, this was a conspiracy theory.

Funny how that happens.

¹Marco Rubio was previously the Senator who defended Mark Warner against damning text messages during the SSCI Spygate effort.

Mar 9 2022

McConnell Says House Will Send $14 Billion Ukraine Aid Package to Senate in Massive Omnibus Spending Bill


Posted originally on the conservative tree house on March 8, 2022 

This is beyond ridiculous.   Senate Minority Leader Mitch McConnell announces a $14 billion Ukraine aid package will come over from the House of Representatives inside a massive Joe Biden Ominbus spending bill, because there is no budget process being followed.

The Democrats know the Senate Republicans want to send Ukraine a bunch of money to continue funding the graft, kickback and payment schemes used by the Senate in order to enrich their donors and families.  So, Nancy Pelosi takes the massive Omnibus spending bill to fund the Biden agenda and inserts the $14 billion Ukraine package she knows the Republican Senators will vote for.  WATCH:

It’s a typical UniParty manuever.  The Republicans cannot be seen on record funding Biden’s agenda, so wink-wink, nod-nod, adding the Ukraine aid gives the Republicans political cover.  Mitch, and the DeceptiCons,will now say they had to vote for Biden’s massive spending Omnibus because it’s the only way they could get the money to support the babies in Ukraine.

A vote against the Joe Biden massive Omnibus spending package is a vote to kill the Ukrainian people by not sending them $14 billion.

House Democrats shut down the government over President Trump’s buget request for $10 billion to build the southern border wall, but House Democrats can prioritize $14 billion in deficit spending to protect the borders of Ukraine.   See the agenda?

There has not been a budget passed in regular order since fiscal year 2008.  The funding of government has been shifted to a never-ending series of Omnibus spending packages and continuing resolutions for the past 15 years.  This is why our deficit has exploded.  FUBAR.

Mar 9 2022

Biden Announces Ban on Russian Oil Imports, Simultaneous With US Gasoline Prices Hitting Record High


Posted originally on the conservative tree house on March 8, 2022 | Sundance 

line hit $4.173, according to the American Automobile Association, with many regions now far exceeding that price.  It is not uncommon to see $5/gal gasoline in many areas.

Against this backdrop, Joe Biden announced today that his administration is banning the import of oil, liquified natural gas (LNG) and coal from Russia.  [We do not import LNG or coal from Russia, so that political point is moot.]  You can read the executive order HERE.

The executive order also bans any U.S. entity from investing or facilitating the investment of Russian energy development.  That section explains why there were earlier reports of Oil companies withdrawing from Russia.  They were obviously given a heads up.

The way the order is currently written, and a lot of it has to do with extremely generous interpretations by the U.S. Treasury Dept., it would appear that any energy company currently operating in the U.S. cannot simultaneously be operating in Russia (or be part of the subsidizing and insurance network that supports energy development in Russia).  The Treasury interpretations here are fraught with complexity.

The part that matters is boiled down in this section:

(i)    the importation into the United States of the following products of Russian Federation origin:  crude oil; petroleum; petroleum fuels, oils, and products of their distillation; liquefied natural gas; coal; and coal products;

(ii)   new investment in the energy sector in the Russian Federation by a United States person, wherever located; and

(iii)  any approval, financing, facilitation, or guarantee by a United States person, wherever located, of a transaction by a foreign person where the transaction by that foreign person would be prohibited by this section if performed by a United States person or within the United States.

     (b)  The prohibitions in subsection (a) of this section apply except to the extent provided by statutes, or in regulations, orders, directives, or licenses that may be issued pursuant to this order, and notwithstanding any contract entered into or license or permit granted prior to the date of this order.  (LINK)

The European Union cannot cut themselves off from Russian oil and natural gas.  Europe relies on imports for 90% of its gas and 97% of its oil products. Russia supplies 40% of Europe’s gas and a quarter of its oil. {source}  Essentially, China and the EU will continue to be the largest purchasers of Russian energy.

The White House is looking to replace Russian oil by purchasing from Venezuela, Iran and, to a lesser extent, Saudi Arabia.   In some ways, you can look at this oil purchase shift as a continuation of President Obama’s intent to exfiltrate American wealth.  Iran and Venezuela become the favored nations again, as they were in the Obama-Biden administration 2009-2017.

Ideologues who have always operated in the background of Biden are working on the same program to consign the U.S. economy as a permanent “service driven economy.”  The difference now is the rapid speed of their policy outcomes, because Biden is disposable.

Biden-Obama, and all that come with them, are working through an ideological plan.  All of these consequences and outcomes are features, not flaws.

$7/gal gas is likely this summer (if not sooner), that’s around $180 to $200 barrel oil price.

$10/gal gas appears to be their ‘Build Back Better‘ target price with oil around $250/barrel.

The Russia-Ukraine ‘crisis’ just helps them justify and speed up the process they already had underway.   I would argue the speed of their action is driven by their concern of a mid-term election outcome that might impede the bigger objective.

White House Press Release HERE –  Executive Order HERE

Mar 8 2022

The Model on War & Food Shortages


Armstrong Economics Blog/Agriculture Re-Posted Mar 8, 2022 by Martin Armstrong

During a war, food production collapses because tanks have a tendency to plow down crops. Here is a food ratio book from World War II in the United States where tanks were not plowing down fields. So even during WWII War, there were Ration Stamp Books issued by the United States government for citizens to purchase goods. Even Britain issued a ratio book, for in both cases, they needed to supply food to Europe which could not grow food. This is what will develop with Ukraine and Russia, combined with Ukrain you are looking at 30% of world grain production. Most of their exports go to Africa and Southeast Asia.

Perhaps now you will understand why our model has forecast focused on food both war post-2020, as well as a commodity boom into 2024. Even back in 2020, we warned that there would be a crisis in agriculture. The yearly array we posted back then showed a rally with a target in 2023.

A number of people have written in saying that others are copying our forecasts and pretend this is their personal analysis. There are always going to be people who want to pretend and take others’ work. The danger is that nobody can do this on a personal opinion, and even claiming they have looked at cycles back 500 years is the same BS you get from climate change analysts that stopped at 1850. Going back to the 16th century is by no means enough data to look forward. You are still dealing with the same monetary system and theories that are falling apart in front of our eyes.

You can go back to our 2011 World Economic Conference in Philadelphia where I stood up and warned the war cycle would turn up in 2014. What happened that year? Ukraine overthrew Yanucovof and that began the separatist movement in Donbas and this was the start of the Minsk Agreement. McCain and Graham traveled to Ukraine in 2016 to undermine that separatist movement simply because Donbas were Russians. The war we have today is directly the result of the behind-the-scenes proxy war against Russia that they began in 2014. Both McCain and Graham both opposed Trump in 2016, and it was John McCain who handed the fake dossier funded by the Clintons to claim Russia was interfering in the 2016 US election.

The model has beaten EVERYONE who pretends they foresaw this. My personal attempts at interpreting the arrays are by no means perfect. We provide the computer arrays so you can look at its forecasts yourself. In that manner, the model can continue to provide guidance long after I am gone.

Mar 8 2022

The Coming WWIII


Armstrong Economics Blog/War re-Posted Mar 7, 2022 by Martin Armstrong

While people rush to kiss the feet of Zelensky, even some Ukrainians are now concerned that he is a puppet dragging their country to destruction all over Donbas. I have warned that this is going to turn into WWIII. China has now come out and warned the USA against trying to build what it called a Pacific version of NATO while declaring that security disputes over Taiwan and Ukraine were “not comparable at all.” They too are logging the same complaints against the US as Putin for creating biological weapons labs on their borders as well.

There are serious allegations that this is all being carried out to try to force Russia and China into the Great Reset and to comply with the United Nations’ mandates for climate change. It is hard to say whether these allegations are true or false. As always, time reveals the truth. But the WEF, which had claimed that Putin was a Young Global Leader, rejected that and shifted to supporting Zelensky also pushing for a continued war that Ukraine cannot win unless it gets so bad that they use this to justify NATO entering Ukraine.

My concern is that their mistake is they think they can take down Russia and then turn to China. Our model warns that that will be a fatal mistake, and China will join Russia.