Klaus Schwab has shown his true colors of authoritarianism. He is against democracy, freedom, and basic God-given human rights. With his Davos group next month, the World Economic Forum (WEF), Schwab who is a control freak by nature, has endorsed the cancel culture banning Twitter, and listing the various Chinese state-controlled social media apps to “follow along” with Davos Man. Schwab follows Marx and believes that he can create the perfect world and that he is far superior to anyone else and this can shape and design how society should function.
That was the very same attitude of Marx and Lenin. Those ideas resulted in over 200 million people dying. That’s OK. We are just collateral damage on his yellow-brick road to perfection. Schwab looks down upon society as the dirt beneath his feat. He fails to understand why communism even failed because it suppressed human nature and in so doing, it eliminated curiosity and imagination. Children under communism could not imagine their future. They were told by the state what they will be according to the needs of the state.
We are far too stupid to know what is best for us. Only the elite understand how to shape the future. We are to surrender all say in our own lives. This is Schwab’s dream to control society 150%. We are to surrender our very beliefs and our aspirations to the state. These ideas have been tried throughout history so many times. They have always ended in stagnation and total collapse.
There is an onslaught of misinformation about the Federal Reserve from everything that it can go bankrupt, and the Treasury will become a second central bank, and of course, the Fed is really the cause of inflation and its balance sheet. The proposal by Janey Yellen to buy in long-term debt and swap it with short-term is not “creating” money for the Treasury has no such power. It was a proposal for a debt swap to shorten the yield curve. The first proposition that the Fed can go bankrupt only suggests that people do not comprehend that the Fed is different entirely from the European Central Bank.
The Fed has the authority to create elastic money for it followed the very idea of J.P. Morgan and how he saved the economy during the Panic of 1907. The Fed can create money when there is a shortage due to economic contractions, and it can then reduce its balance sheet reducing the money supply. When the Fed was created, it was established with branches around the country because the Panic of 1907 exposed that there were regional capital flow problems. The 1906 San Francisco Earthquake drained the cash from the East where all the insurance companies were.
As we can see from this clip of rates in 1927, each branch was independent. There was an excess case in Kansas City so they lowered the interest rates there in hopes that capital would migrate to the other districts to earn more interest. All of that was eliminated by Franklin D. Roosevelt who wanted (1) to stack the Supreme Court to approve his Marxist agenda, which failed, and then he usurped all the power of the Federal Reserve and created the Washington headquarters and the President then was to appoint the head of the Federal Reserve and to illegally lobby him to ensure that his presidential agenda was to be the policy at the Federal Reserve. There was no more independence of the branches.
When Biden was running in 2020, he actually proposed requiring the Federal Reserve to regularly report on what they are doing to close economic gaps that exist along racial lines in the United States. Biden has viewed the Fed as a social tool and he has been making efforts to manipulate the Federal Reserve which will be extremely dangerous if they are carried out. Now, the Biden Administration is talking about closing branches of the Federal Reserve and replacing those board members with his hand-picked political cronies. In January 2022, he was pushing for black economists to be appointed to the Federal Reserve Board. My concern is that academics have ZERO experience and do not really understand the global economy trapped by domestic Keynesian Economics.
It was Paul Volcker who Chaired the Fed into the high in the interest rates back in 1981 who concluded in his Rediscovery of the Business Cycle that “it was not until the events of 1974 and 1975, when a recession sprung on an unsuspecting world with an intensity unmatched in the post-World War II period, that the lessons of the ‘New Economics’ were seriously challenged.” However, former Fed Chair Ben Bernanke has suggested that the Fed’s failure to contain inflation during the 1970s traced back to the political forces that shaped the Fed chairs in charge that he expressed in his book “21st Century Monetary Policy.” He wrote that the inflation of the ’70s puzzled economists relying on the 1958-ventage Phillips Curve, which would have predicted high inflation only in combination with extremely low unemployment rates. Bernanke admitted that the Phillips curve had “broken down” during the 1970s.
The critical problem with the entire way we view inflation rests on the QTM (Quantity Theory of Money) and the assumption that a mere increase in supply must produce inflation. There is absolutely nothing in the economic data that supports these old theories that were based upon (1) fixed exchange rates, and (2) the supply & demand theory dates back to the days of coinage. It was John Law who came up with the supply/demand theory that everyone else plagiarized, including Adam Smith. John Law’s writings influenced many, although they would never admit it. He was clearly the FIRST to use the term DEMAND and he was certainly the FIRST to join it with the word SUPPLY, for only a trader could have seen this connection in the price movements of anything.
The greatest fallacy of Keynesian Economics, Supply v Demand, and the Phillips Curve is that they have ALL failed because the US dollar is the reserve currency of the world and by default, the Federal Reserve has become the central bank of the world. With Biden desperate to get his hands around the neck of the Federal Reserve and force it to yield to his political agenda, threatens more than merely the US economy – but the entire world. Bernanke acknowledges in his book:
“Martin, my boys are dying in Vietnam, and you won’t print the money I need,” President Lyndon B. Johnson reportedly told then-Fed Chair William McChesney Martin Jr. at his Texas ranch after the central bank announced a half-point increase to its key discount rate over inflation fears, Bernanke writes. White House tapes, meanwhile, reveal President Richard Nixon frequently appealing to Fed Chair Arthur Burns’ Republican-party ties to clear the runway for more easy-money policies, with one call going as far as urging the Fed chair not to make any policy decisions that could “hurt us” in the November 1972 election.
I warned the Fed back then that buying in 30-year bonds during the 2007-2009 Financial Crisis, would NOT stimulate the domestic economy for one simple reason and this is why both the goldbugs and central bankers have been wrong. The domestic money supply DID NOT increase to stimulate when China was saying thank you very much and swapping their 30-year holdings for 10-year or less. The assumption that any central bank can control the domestic economy is absurd. The holdings of debt are global. Therefore, buying in 30-year bonds to reduce the supply in hopes of reducing the mortgage rates failed because the money did not stay in the USA. That is why the Fed then began to buy the mortgaged-backed securities because that was a more direct impact domestically.
As the money supply increased and the national debt rose consistently, gold declined from 1980 into 1999 for 19 years. All the theories of inflation driving gold higher were simply wrong just as the central bankers relied on the very same theories.
It was World War I and II that drove the gold to flee to the United States so by 1950, there was no choice but to make the dollar the reserve currency. Yet more significant was the realization that the factor which produced that result was ENTIRELY external to the domestic economy. Therefore, all the economic theories were bogus because they were all focused on domestic policy thanks to Karl Marx whose central theory was the government possessed the power to eliminate the business cycle by confiscating all private assets. That altered human nature and created economic stagnation. Nevertheless, Keynes and everyone else have sought to accomplish the very same authority that Marx maintained existed.
This focus on GDP (Gross Domestic Product) has reversed the GNP (Gross National Product), which was more global in its scope. If we attributed world trade to the flag the company flies rather than where it sets up a plant, then you would see that the United States has a trade surplus and not a trade deficit. This is also a backdrop to the reserve status of the dollar. Perhaps the greatest of all the wild proposals is that somehow Bitcoin will rise from the ashes and become the new Reserve Currency of the world. So all governments will issue debt in Bitcoin? Politicians will never be able to run for office and Socialism must collapse.
Rather than betting on the power grid to survive if governments collapse, I think we will see the pre-1965 silver coins return for a medium of exchange and gold for larger transactions. I have said plenty of times, GOLD will NOT rise as a hedge against inflation, it is a hedge against the collapse in confidence of the government.
As I have written before, when the Japanese government lost the confidence of the people, they lost the ability to produce any money for 600 years. The people used the coins of China and bags of rice – no Japanese coins were ever acceptable for 600 years which was the same time interval it took to reestablish gold in Europe following the fall of the Roman Empire.
COMMENT: Mr. Armstrong, I just wanted to inform you as a loyal reader of your blog, it is snowing here in Kuwait for the first time in history. Your computer is the only non-passionate forecaster I have ever encountered. It relays just the facts without an agenda.
Thank you so much. You have a large group of supporters here in the Middle East.
SBB
REPLY: This entire climate change agenda is a hoax. They are not interested in the truth. This is about using climate to restructure society into the one-world order which is why they are supporting Ukrainian Nazis that follow the same beliefs as Adolf Hitler. We have turned 180 degrees from our basic fundamental values.
I am deeply concerned that by calling this global warming and now they are experimenting with shooting particlesinto the atmosphere to “cool” the planet, we may be pushing ourselves into an ice age much faster than anyone suspects. Napoleon was defeated by a Volcanic Winter. These people are risking the entire planet for several volcanoes erupting, and we may not survive by deliberately shooting particles into the atmosphere. All of this is because our current debt system cannot be sustained.
As we’ve been saying for seven months, keep watching how the globalists respond to Mexico. AMLO doesn’t want to join the economic suicide pact known as Build Back Better, or the North American version “Green New Deal.” This puts him in a precarious place.
This sentence from a recent financial analysis article in Reuters is telling, “concerns about a U.S. recession and a trade spat Mexico is embroiled in with the United States and Canada over Lopez Obrador’s energy policy, which critics call nationalist, muddy the outlook for the peso.” A “nationalist energy policy”?
What exactly is a “nationalist energy policy,” and why would international financial people be having fits about it?
In the past year the Mexican peso has outperformed the U.S. dollar, in part because Mexico is not following the economic roadmap, a World Economic Forum inspired united inflationary malaise as an outcome of unified energy policy. [Side Note: The Brazilian currency was also outperforming the western bloc and dollar; but that situation has been rectified now, Bolsonaro removed, and the central bank will start contracting the economy.]
The global financial control mechanisms now start to look at the Mexican non-compliance:
(Reuters) – Mexico’s peso, which is ending 2022 with one of its strongest performances in a decade, could have its gains wiped out in 2023 after an expected end to the Bank of Mexico’s rate hikes cycle and a possible recession in top trade partner the United States.
The peso last month clawed its way back to pre-pandemic levels and has appreciated over 5% versus the U.S. dollar in 2022, making it one of the best-performing global currencies alongside Brazil’s real.
But the peso’s impressive run may be ending as markets expect the large capital flows to Mexico in recent months, attracted by the Bank of Mexico’s restrictive monetary policy stance, could soon start to slow.
[…] Banxico, as the central bank is known, has been increasing its benchmark interest rate since June 2021 to stem inflation, and hiked it to a record 10.5% at its last policy meeting.
In the coming months, Banxico is expected to end its rate hiking cycle and likely decouple from the U.S. Federal Reserve, which is seen continuing to increase rates. That would narrow the rate differential and could spark an outflow of capital.
Concerns about a U.S. recession and a trade spat Mexico is embroiled in with the United States and Canada over Lopez Obrador’s energy policy, which critics call nationalist, muddy the outlook for the peso.
“The perception of risk could rise due to the consultations in the framework of the USMCA (trade deal), which could lead to the imposition of measures against Mexico,” said Banco Base.
Traders at the Chicago Mercantile Exchange, considered a bellwether of market sentiment, have started to bet the peso will begin depreciating. (read more)
There is no upper limit to the amount of pressure the Western Alliance will put upon Mexico.
We accept the named legislation “Inflation Reduction Act” (IRA) is a legislative misnomer intended to obfuscate the true construct of the bill. The IRA was factually the ‘green new deal’ program packaged under the guise of an ‘inflation reduction’ premise. However, in order to discuss the outcome of the content we have to play the game of pretending around the purpose of the legislation.
Within the IRA there was a $7,500 tax credit for American made Electric Vehicles. The intent of the legislation was to provide incentives for U.S. consumers to purchase ‘sustainable’ and environmentally friendly electric cars, trucks, SUV’s etc made in America.
The Congressional Budget Office (CBO) scored the bill with this legislative intent in mind. However, the Treasury Department is now taking apart the granular details of the legislation in order to qualify foreign made vehicles for the $7,500 credit. The rules interpretation from the Treasury Dept essentially negates the CBO score, and the outcome is going to be much more expensive than initially stated.
Because the $7,500 comes in the form of a tax credit, the IRS (Treasury) is the institution making the determinations for qualification. Treasury is changing the qualifications to permit basically any EV to qualify, by parsing a difference between a leased vehicle and a purchased vehicle. Additionally, Treasury is changing the battery sourcing aspect by qualifying essentially any trade agreement as a Free Trade Agreement (FTA), saying the term Free Trade Agreement was undefined in the legislation.
As an outcome & simply cutting to the chase, EV batteries from just about anywhere, inside EV vehicles from basically anywhere, that are purchased as leases from just about any auto manufacturer, will qualify for the $7,500 credit. It’s all a shell game, with the Biden administration determining where the pea is located.
Dec 29 (Reuters) – The U.S. Treasury Department said Thursday that electric vehicles leased by consumers starting Jan. 1 can qualify for up to $7,500 in commercial clean vehicle tax credits, a decision that makes those assembled outside North America eligible.
The announcement is a win for South Korea and some automakers that earlier this month sought approval to use the commercial electric vehicle tax credit to boost consumer EV access. Automakers said the credit could be used to reduce leasing prices.
The $430 billion U.S. Inflation Reduction Act (IRA) passed in August ended $7,500 consumer tax credits for purchases of electric vehicles assembled outside North America, angering South Korea, the European Union, Japan and others. The new Treasury guidance does not change the definition of what constitutes North American assembly to make more vehicles eligible for EV purchases.
Treasury said it was using “longstanding tax principles” to determine consumer leasing could qualify for the EV tax credit.
The IRA also imposes significant battery minerals and component sourcing restrictions, sets income and price caps for qualifying vehicles and seeks to phase out Chinese battery minerals or components. The commercial credit does not, however, have the sourcing restrictions of the consumer credit.
Senator Joe Manchin, a Democrat who chairs the chamber’s energy panel, urged Treasury to pause implementation of both commercial and new consumer EV tax credits and said they had bent “to the desires of the companies looking for loopholes” and would seek new legislation that “prevents this dangerous interpretation from Treasury from moving forward.” (read more)
From the Wall Street Journal, “One of the documents released Thursday pointed out that because the legislation doesn’t define what a free-trade agreement is, the Treasury Department might consider other types of trade agreements to expand the eligibility. The department didn’t provide examples of such agreements, but trade lawyers have suggested that the 2019 bilateral trade agreement with Japan and the World Trade Organization’s government procurement agreement could be candidates.” (link)
I am reminded of the words from Democrat Congressman Alcee Hastings during the construction of the ObamaCare legislation. WATCH (10 secs):
The Rubin Report Published posted originally on Rumbal on December 26, 2022
Dave Rubin of “The Rubin Report” talks to candidate for RNC Chair Harmeet Dhillon about why the RNC suffered major losses in the 2022 midterm elections under the failed leadership of RNC chairwoman Ronna McDaniel; how she would change the political strategy of the Republican National Committee; why Republicans don’t seem to know how to win an election; and the free speech litigation she has done on the behalf of the Daily Wire and Project Veritas.
The Rubin Report Published originally on Rumble on December 28, 2022
Dave Rubin of “The Rubin Report” talks to candidate for RNC Chair Harmeet Dhillon about how the Twitter files have confirmed the suspicions of the Center for American Liberty’s lawsuit against Twitter; how she exposed the state of California’s secret enemies list; why she is representing Rogan O’Handley (aka DC Draino) in his fight against big tech censorship; how Republicans dropped the ball in dealing with big tech regulation; how section 230 of the communications decency act needs to be reformed; and why we need a social media bill of rights.
COMMENT: Thoughts regarding your “Trump and 2024” comments. I’ve been following your blog for well over 10 years and signed up on your basic Socrates program months ago. I’m 67 and voted Democrat most of my life until 2016. I voted for Trump. No way I was voting for Hillary Clinton and considering the political DNC and Deep State gamesmanship following Trump’s victory I’ll likely never vote blue again. It was and is disgusting. I’m also a Floridian and voted for DeSantis. I think he’s a great governor for Florida. But there is absolutely no way I’ll vote for him for POTUS. If DeSantis is the GOP candidate I’ll stay home on voting day. In my mind, deep down, he’s just another RINO and will just return us to the status quo. He also has a few ghosts in his closet. I’m personally peeved that he held one of his first cabinet meetings in Israel. And his time at GITMO, if true, is likely to come back to haunt him.
To me Trump is the only one that would, shall we say, have the motivation to get done what really needs to get done inside the beltway and beyond. One would only hope he learned the necessary lessons and could surround himself with the right support staff. Of course, that’s the mystical, magical question. He obviously listened to McConnell too much last go around. I would never profess to have more insight than you and certainly not Socrates. I am simply expressing a personal belief that Trump is our best hope to navigate what’s coming our way. I’m not ready to give up on him yet…and if I do I’ll just throw in the towel and hope for the best. From a Loyal Follower of your Blog!
DH
REPLY: I think a lot of people just have a false impression of politics these days. They take what politicians say seriously. I also think that was Trump’s problem. He did try to actually keep his promises, which politicians routinely do not do. Biden said he would make abortion a constitutional right. He knew that was total BS. To create a Constitutional Amendment you first have to get it through Congress and then every state legislator must agree. It would take years even if you tried. which was total nonsense. But if it gets votes, no problem.
Trump thought being President actually meant you got to run the country like a corporation. They stuffed his cabinet and the Deep State always runs the game. He had to find that out the hard way.
As I said before, I could run for office promise whatever you want to hear. Then when you get there, the Party boss has a gathering and you are told how to vote and when. Just look at the votes in Congress. They are Party Line. Personally, I would prefer DeSantis to stay here in Florida. I think he has done a great job. However, Washington is nothing but a conflict of interest on steroids. Just look at how they poured money into Ukraine, Zelensky then fed it to FTX and FTX became the 2d largest donor to the Democrats. It was money laundering that will never be allowed to get to trial.
People do not understand that running the nation is far different than an individual state. Look at California and New Jersey v Florida and Texas. They do not even blend together to form a united country. In New Jersey, stores are not allowed to give you a bag. The governor is constructing windmills in the ocean and it’s only a matter of time before he outlaws gas cars and gas stations. The United States is rapidly becoming ungovernable as a united nation. The political difference is so great, it no longer makes sense to have a single nation. The Roman Empire split into three, a civil war was fought to bring it back together.
Then Diocletian divided the Empire in two and this created the Tetrarchy. That lasted just 23 years before Constantine I (307-337AD) reestablished one emperor. But then the West fell and the East survived as the Byzantine Empire after about 180 years. The official Byzantine Empire began in 498AD with the Monetary Reform of Anastasius I (491-518AD). The Byzantine Empire lasted until 1453. The likelihood of the separation of the United States begins to increase post-2024. The United States as we have known it may no longer exist post-2036.
Posted originally on the CTH onDecember 27, 2022 | Sundance
Cobalt is a mined mineral needed for all rechargeable batteries including phones, pads, laptops and Electric Vehicles (EV’s). According to Siddharth Kara, an author and expert on modern-day slavery, human trafficking and child labor, approximately 72% of all the cobalt mined globally comes from the Congo.
Within his new book “Cobalt Red: How the Blood of the Congo Powers Our Lives,” Kara outlines how slave labor and child labor work these cobalt mines. Kara appeared on the Joe Rogan podcast {Direct Rumble Link to segment} to discuss his research and findings after visiting these Congolese mines. Contrasting the “Green Movement” claims that their efforts are to “save the planet” by switching everyone to EV’s, the issues Kara outlines are remarkable. WATCH:
What is absolutely astonishing, is that this entire global warming propaganda that they then changed it to climate change because it was not just getting warmer – but colder. The entire premise is that the climate is changing all because of the Industrial Revolution and they REFUSE to address the fact that there are natural cycles to weather since the Earth was born.
I had to go to New Jersey for the Holiday. OMG – it was 10 degrees. It reminded me why I moved to Florida to get closer to real Global Warming. There us a cycle to absolutely everything. Only a complete idiot would argue against that.
During the 1970s, scientists were all predicting a new ice age. That was the popular view. Then there was a totally theoretical proposition laid out in the book Under a Green Sky that has become the bible for the total destruction of our modern society and just maybe they know that and are looking to deprive energy to reduce the population.
If we take the graph from the paleontologist Peter D. Ward’s book, “Under a Green Sky” published in 2007, this is what has inspired this whole climate debate and there is no evidence that it was CO2 that created an extinction of hundreds of millions of years ago. This has been a theoretical model that appears to be as reliable as the one funded by Bill Gates to justify locking down the entire world economy for a man-made virus – COVID19.
I find it really hypocritical that they want to imprison Trump, but not people pushing to reduce the world population and mandating a vaccine that FAILED to prevent the virus and more people who died of COVID who were vaccinated than not.
When the head of Pfizer seems to be way too close to heads of state and he has ABSOLUTE IMMUNITY that not even the International Criminal Court wants to charge Putin but not Pfizer, is just another example of the political cesspool we live in today.
The rise and fall of civilizations have been tied to climate. They ignore history and refuse to comprehend that there are simply cycles to everything. When Rome was the dominant power, there was pollution and CO2 which was created by burning wood. The first clean air act was put into law in 535 AD. These people act like we will all become extinct unless we reduce CO2 to zero. They have no science to back them up, just a book that put the theory about CO2 creating one of the extinctions without any evidence — just an assumption.
There is ABSOLUTELY no statistical evidence whatsoever that there has been any Global Warming. Here are the monthly maximum temperatures for New York City since 1869.
Here is the Computer cyclical forecast for 12 years. This year 2022 was a Double Directional Change and it was on target. The big targets for the climate crisis will be 2025 followed by 2029 – and it will not be warming.
The real question remains unanswered. Are these people claiming Climate Change to deliberately reduce the population?
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
Centinel2012 