Category End of the Petrodollar

Jun 10 2023

Strategic Lawfare at Work, They Didn’t Resign – Jack Smith Takes Down Two Trump Lawyers Using Compelled Testimony, Creating Witnesses Within Indictment


Posted originally on the CTH on June 9, 2023 | Sundance 

Good news, bad news and granular news..

First, the good news. The judge assigned to the Trump documents case is U.S. District Court Judge Aileen Cannon.  She is the same judge who handled the lawsuit last year after the FBI raided Trump’s Mar-a-Lago estate.   Judge Cannon was the judge who appointed the “special master” to review the documents the DOJ was claiming were classified, but Team Trump was contending that definition.

Now the bad news. The DOJ is no longer legally arguing that Donald Trump held any classified documents at Mar-a-Lago.  The DOJ is arguing that President Trump held documents vital to U.S. defense security.  It’s a farce but that’s their position.  The classification status of documents is moot, nonexistent, except to create the predicate for the proverbial FBI nose under the tent.

The DOJ-NSD (that’s Lisa Monaco) got a warrant to look for classified documents, but never intended to use classified documents as a case cornerstone because President Trump had full declassification authority.  The DOJ got a search warrant by convincing a judge they were looking for something that wasn’t even a violation of law. That’s why the DOJ would not reveal the probable cause affidavit.  The search was built upon a fraudulent pretense.  “Classified” is a snipe hunt.

You will notice Jack Smith never discussed “classified documents” in his remarks, and the issue of classified documents appears nowhere except in the indictment as a purposeful lawfare description of documents.  The DOJ is not legally charging anything relating to the classification status of the documents.  That’s the Lawfare and media banter to create a talking point.  The term “classified” is all over the indictment, but as a lawfare adjective only; it’s like using the word “stash”.

The special counsel legal framework is centered around documents the DOJ define as vital to “the defense security” of the United States.  EVERYTHING is predicated on 31 counts of an 18 U.S. Code § 793(e) violation.  The DOJ defines what is considered a defense document, and that intentionally has nothing to do with classification.

The granular news.  You might have heard that two of Trump’s lawyers, Jim Trusty and John Rowley, quit today.  The media wants to use their exit as a point to indicate Trump is in legal jeopardy; however, that’s not the case.

As soon as Trusty and Rowley saw their forced testimony was used in the indictment, they had no option except to exit the case.  Despite the lawyers providing no damaging information against Trump, the DOJ used language in the indictment to turn Trump’s lawyers into material witnesses. Weissmann’s Lawfare tactic create a conflict, forcing the two Trump lawyers to depart.

WASHINGTON DC – Two of Donald Trump’s top lawyers abruptly resigned from his defense team on Friday, just hours after news broke that he and a close aide were indicted on charges related to their handling of classified documents.

Jim Trusty and John Rowley, who helmed Trump’s Washington, D.C.-based legal team for months and were seen frequently at the federal courthouse, indicated they would no longer represent Trump in matters being investigated and prosecuted by special counsel Jack Smith, who is probing both the documents matter and efforts by Trump to subvert the 2020 election.

The resignations were shortly followed by an announcement from Trump himself confirming that a close aide, Walt Nauta, had also been indicted by federal prosecutors. Nauta, a Navy veteran, had served as the former president’s personal aide and was a ubiquitous presence during his post White House days.

In their place, Trump indicated that Todd Blanche — an attorney he recently retained to help fight unrelated felony charges brought by Manhattan district attorney Alvin Bragg in April — would lead his legal team, along with a firm to be named later. Trump and his team have liked Blanche, who is expected to play a more elevated, central role. (more)

Weissmann, Eisen and Smith are using lawfare in the indictment to put the interests of Trump and his aide Walt Nauta against each other.   Obviously, Nauta would not turn on Trump, so the prosecution made Nauta a target for a federal 1001 charge of lying to investigators and will pressure him throughout the case to take a plea in exchange for testimony against Trump.   Nauta is the baseline of the “Conspiracy Elements” which require two or more people.  Again, pure Lawfare.

Obviously, Jim Trusty was unaware last night that his forced testimony would be used in the indictment. WATCH:

https://youtube.com/watch?v=VGPmbWq0g48%3Ffeature%3Doembed
Jun 9 2023

Canadian Wildfires – CLIMATE LOCKDOWNS BEGIN


Armstrong Economics Blog/Conspiracy Re-Posted Jun 9, 2023 by Martin Armstrong

https://youtube.com/watch?v=LWCoGOG6-qQ%3Ffeature%3Doembed

There is something strange in the air. Are we to believe that what is occurring is simply the result of wildfires in Canada all occurring simultaneously? Official reports claim that droughts caused the conditions for the fires. Quebec said that the fires were ignited by lightning, Alberta admitted the cause of their fires is still unknown. Other provinces also blame lightning and dry conditions, but no one seems to have a clear answer for why over 9.4 million acres in Canada have burned.

Trudeau seemed unemotional and unsurprised during his press conference. He was utterly tone-deaf for a leader of a country where millions of people were just displaced from their homes. This will certainly fuel his desire to implement harsher carbon taxes. The people of Canada were not properly warned, as you can see in the video above. I share videos from the TikTok platform because it is one of the only peer-to-peer sites available where users can share their uncensored experiences. The man speaking learned that his home was burning down through posts shared on Facebook, not the Canadian government.

And the claims of lightning storms? The weather trackers did not seem to pick up on any extreme storms:

Some may say they are strategically burning areas to prevent the fire from spreading. What’s really happening here?

President Joe Biden is already blaming “the climate crisis” for these unexplainable events. The smoke spread to the US in 18 states from South Carolina to New Hampshire. The New York skyline turned a vibrant shade of apocalyptic orange. The smoke contains fine particulate matter, or PM2.5, the tiniest yet most dangerous pollutant. The Air Quality Index (AQI) is safe at levels around 50. New York and New Jersey experienced levels of over 400 this week. New York topped global charts and had the worst AQI in the world.

Experts say breathing in the air is equivalent to smoking half a pack of cigarettes. “There is no safe aspect of wildfire smoke,” explained Kari Nadeua, Naddisy Foundation Professor of Pediatric Food Allergy, Immunology and Asthma at Stanford University, in an October 2020 Stanford Woods Institute for the Environment wildfire research report. “Exposure to wildfire smoke over 5 to 7 days can cause damage to the lungs, blood, and heart and cause strokes. There is no safe distance from smoke.”

https://youtube.com/watch?v=CbpWWH743xA%3Ffeature%3Doembed

New York Governor Kathy Hochul has urged residents to wear masks and stay indoors. We’re entering a lockdown once again. New York even provided over 1 million N95 masks, and this time around, people may want to put them on. Schools and sporting events across New Jersey and New York have closed along with some businesses. The governments are testing an ECONOMIC LOCKDOWN.

Conspiracy theories are spreading faster than the fires. Some believe that the missing 30 tons of ammonium nitrate were used for this attack, and are calling it economic terrorism. Others believe that Canada deliberately started the fires. With countless areas covered in smoke, the people cannot see. This would be a great way to test a potential attack in broad daylight. Some are concerned that there are chemicals in the air that they intend to use to start the next pandemic, as numerous agencies have said they are preparing for a second one. I won’t even go down the rabbit hole of the conspiracy theories regarding the sun or the Chinese balloons. No one trusts the government or the mass media anymore.

One thing is for sure – the governments will blame this on climate change when they allegedly do not have a clear answer. We are experiencing our first economic lockdown, unofficially.

Jun 8 2023

Gold & the Future


Armstrong Economics Blog/Gold Re-Posted Jun 7, 2023 by Martin Armstrong

QUESTION: Mr. Armstrong, first I want to thank you for your independent analysis. In gold, all they ever say is buy – buy – buy. It seems if you ever say anything else, they ridicule you. Gold to them is a religion, not an investment.

My question is that you have always said that the fourth challenge to a high is when it breaks out. Do you expect that this year?

Thank you ever so much

WK

PS: Was that you at the Premier of Pandemic3?

ANSWER: We still have a barrier of overhead resistance at the 2160-2180 level and some at 2200. After that, the next resistance is around 2600. Keep in mind that Ukraine is the MOST untrustworthy country on the planet. Already arms provided to Ukraine have been used in the attacks inside Russia. The F16s will be used to attack Crimea. All they will do is spread their hatred and they are deliberately trying to create World War III. They will create a false flag to attack a NATO country and claim it was Russia. They have been desperately trying to capture a Russian missile so they can fire it at Poland.

Our computer shows NOTHING but war ahead, especially from 2025 onward. But for now, expect the volatility to begin to rise again from June into next January. INFLATION will NOT subside. It cannot when we are at war. Biden will spend whatever he is instructed by the Neocons.

Yes, I was at the Premier in Austin, Texas. That is me in the background.

Apr 27 2023

REMINDER: Inflation was at 1.4% When Biden Took Office


Armstrong Economics Blog/Inflation Re-Posted Apr 27, 2023 by Martin Armstrong

Inflation was only 1.4% when Biden took office. He began implementing policies on his first day that directly created the energy crisis in the US. He refused to reopen the economy under the pretense of COVID for as long as possible, disrupting the supply chain and damaging small businesses. Biden has created multi-trillion dollar spending programs that saddled the nation with more debt and increased price volatility. His team has been working to divide the people and create civil unrest. I could go on about his failures, but his worst move was involving America in the Russia-Ukraine war. Inflation has steadily risen to unsustainable levels nearly every month since Biden took office.

Biden’s team toys with the numbers to tout that inflation has gone down, but they are comparing the high and low both created under Biden. Wages cannot support the increase in costs and absolutely no one is better off under Biden. Considering the dire situation, it is infuriating that the US had a 1.4% inflation rate not long ago.

Inflation has soared by over 15% since Biden’s inauguration in January 2021. The “Presidential Inflation Rate,” (PIR) developed by the Winston Group, measures a president’s progress in handling inflation over time, from their inauguration month to the month of the most recent CPI report. As of March, inflation under Biden is 15%, which makes him the most inflationary president since Carter. Biden’s 24% “Presidential Inflation Rate” for rising electricity costs is higher than any of the previous seven presidents as it is now up 37.2%. The cost of food rose 18.3% under Biden, and eggs alone have soared by nearly 80%. Shelter costs are now at a 42-year high, and Biden’s PIR for rent has surpassed 13.5%.

Joe Biden takes no responsibility for the inflation caused by his policies and failures as a president. Inflation will continue to increase under Biden. He has absolutely no plans to address the issue, and the legislation he creates to address the problem only exacerbates it. Biden is a corrupt politician who lines his pockets with money from Ukraine and China. The investigation into his crime family that the media is sweeping under the rug reveals the truth. This man needs to be removed from office immediately, but the people alone must decide when they’ve had enough.

Apr 27 2023

Biden’s Let’s Finish the Job


Armstrong Economics Blog/Politics Re-Posted Apr 27, 2023 by Martin Armstrong

Biden’s announcement that he is running was crafted like a Twitter post – not live and posted at 6AM. His message is highly questionable for all he is saying is that the Republicans are radicals and therefore vote for him and he will maintain the status quo. There is a void of any new proposal and there is undoubtedly no message about the economy or inflation that is running away and reducing the livelihood of the average American. Quite frankly, this is the most controversial campaign that naturally the media will never even discuss. How do you “finish the job” without knowing what has been accomplished and what remains “finished” in a second term? The total absence of any claim that he accomplished anything from COVID to having 7 aids that are LGBTQ leaves a huge void.

The Republicans, on the other hand, are simply rolling out the same agenda of restraining the debt ceiling which will only work to undermine the entire socialist agenda and that is way too late. The warmongers in the Republican Party would rather spend money throwing it into the Ukrainian Black Hole where we are paying the entire salaries and pensions of Ukrainian government officials with no restraint on their salaries whatsoever. So we are to cut the benefits of Americans but keep funding Ukraine? Sorry, that is not an agenda I would be voting for.

Then there is the Abortion issue so they are fighting well-organized propaganda where even Supreme Court Justice Ruth Bader Ginsberg said when she got to the Supreme for Roe v Wade, that it was all about population control and eugenics – not women’s rights.

The defense of Roe v Wade is actually hypocritical for the Democrats. The main support comes from Gates and Rockefeller Foundations and it is covertly supported by the United Nations. This is all about the Planned Parenthood agenda to provide abortions to minorities to reduce their population. Now you may think I am being a conspiracy theorist. However, back in 2009, Justice Ruth Bader Ginsberg bluntly told the truth, when she was for equal rights for women.

The Democrats successfully won the abortion argument and the Republicans never understood the issue. It is like asking a witness when was the last time you beat your wife. He will then try to defend himself saying never, and even say ask his wife if he ever beat her. She will say no, and then you argue of course she will deny being beaten out of fear you will beat her again when you get home. You created a no-win argument and changed the entire agenda and nobody understands how you manipulated the entire argument.

Ginsberg made it clear: “Frankly, I had thought that at the time Roe was decided, there was concern about population growth and particularly growth in populations that we don’t want to have too many of.” She spoke bluntly in an interview published in the New York Times Magazine which was an article on women on the court. So it was not simply a woman’s rights agenda. That was the cover story to hide the real agenda which has always existed – eugenics and to reduce the population of minorities.

The Republicans have been diverted to argue over religion and never noticed that the Democrats flipped Eugenics into Women’s Rights. This claim it is my body so it is my choice, was entirely ignored by the Biden Administration when it came to COVID Vaccines. Suddenly nobody cared if it was your body, you were being told to take the vaccine or lose your job.

The Republicans are too caught up in their old rhetoric to notice that they have been played like a fiddle and they are the monkey dancing to the organ-grinder’s tune. I fail to see any Republican charging in on a white horse to save the day. They are too distracted to even understand what day it is.

So when Biden says let’s finish the job, he refuses to even say what the job is.

Apr 26 2023

New FHFA Rule- Middle Class to Subsidize High-Risk Borrowers


Armstrong Economics Blog/Real Estate Re-Posted Apr 26, 2023 by Martin Armstrong

Biden is ushering in new socialistic policies and there are no checks and balances. I mentioned a few weeks ago how Fannie Mae and Freddie Mac are changing Loan Level Price Adjustments (LLPAs) on conventional loans. To ensure “fairness,” the agencies are helping “underserved” home buyers by reducing costs for those with lower credit scores and less money for down payments. Borrowers with a credit score under 680 will be rewarded, while those who spent years maintaining a high level of creditworthiness will see higher rates. So those with good credit and savings will be subsidizing mortgages for others who are less financially responsible.

The Federal Housing Finance Agency (FHFA) is using the race card and claiming this will help people of color secure loans. “In the short term, this may increase homeownership among the targeted group, but I’m afraid it could decrease homeownership among the middle class,” said Jerry Howard, CEO of the National Association of Home Builders. “I’m not sure that we’re not robbing Peter to pay Paul here.” People of color can also have good credit and savings for a downpayment, and it is an insult to say otherwise. As of now, lenders are solely looking at the colorblind numbers and race is not a factor. This is merely a ploy to see how this administration can slowly replace our republic with socialism.

This is completely unconstitutional and it’s telling how this measure passed with little backlash. Do not trash your credit because the rules of this rigged game always change. There will be backlash once people see the additional fees that the Biden Administration calls “minimum.” An extra $40 per month on a $400K loan amounts to over $14,400 over the course of a 30-year mortgage. Moreover, already stressed banks will be forced to provide loans at a lower rate to people who should not qualify. The law goes into effect on May 1, right in time for the busy spring season. Biden is forcing people to redistribute their wealth, and we are not talking about real wealth. Those with real wealth are buying in cash right now. This directly hurts the middle class who believed that working hard could afford them the now imaginary American dream.

Apr 25 2023

The Great De-Dollarization Fraud of a Lifetime


Armstrong Economics Blog/USD $ Re-Posted Apr 24, 2023 by Martin Armstrong

COMMENT: Marty; I was in a board meeting and I just wanted to let you know one guy who is there simply because his family had a stake in the company with zero worldly experience, started ranting about the end of the dollar he probably read on that biased _____________________. I asked this fool, should we then move all our company funds to Russia or China since Brazil is too small of an economy? Should we stop dealing with Americans? He had no response.

Separating a fool from his money seems to be a never-ending fact about humanity.

Cheers

You are the only sane one out there these days

PY

REPLY: I know what you mean. The people promoting this BRICS nonsense have no understanding of the real world. Institutions cannot park billions in Brazil, China, or Russia. Especially in the face of war. The reason the Euro has failed as a serious reserve currency is that there is NO NATIONAL EURO DEBT! Institutions have to still jockey between the various risks of each country and all the Euro did was transfer the foreign exchange risk to the bond market. Sorry, I just do not see where the dollar is in some state of collapse.

When they came to me to create the Euro, I warned them that there would be no single interest rate without the consolidation of the debt. But Kohl never allowed the German people to vote on joining the Euro, so he would not allow the consolidation of the debt. I was told then that they just had to get the Euro started and they would worry about consolidating the debts later. Of course, that never came. Hence, the volatility in FX simply moved to the debt market. The bottom line – the US dollar is still the ONLY place for major institutions to park money – PERIOD! They are not buying Brazil, China, or Russia.

World Trade as a percent of total world GDP PEAKED in 2008 at 61%. It has been in a bear market that will not bottom before 31.4 years taking us into 2040. The sanctions on Russia have divided the world economy and killed SWIFT but it has also ended globalization. To think that the BRICS can replace the dollar with ZERO capacity for international capital to park in such markets is the delusion of absolute fools. China will surpass the USA, but only after 2032.

So here we go again. This nonsense is leading unsuspecting people to follow the piper to divest of dollars and move into what exactly? Most of this is propagated by the gold bugs who will NEVER listen. They hate the dollar because they think gold will rise then. What kind of a world will exist if their doom and gloom were a reality? You might not have any place to spend your wealth. I own gold NOT as an investment, but because of its neutrality.

There is such a major fraud going on with digital currencies with people reporting that the latest scam is using social media to tell people to transfer all their cash to a digital wallet, and BTW – here is the link! If you believe that one, perhaps you would like to buy the Brooklyn Bridge. NYC has a deficit and they will sell it for all the money in your savings. Wake up!

These people remind me of the famous drawing of a fool and his cat.