Posted originally on Jun 9, 2024 By Martin Armstrong
COMMENT: Mr. Armstrong, you were right again, or your computer was, that the June elections would be a major upset. The far right has gained in France, Germany, and the Netherlands. You said in London that Le Pen should win in the 30% range. It looks like she has 31.5%.
Well done!
HH
REPLY: This should come as no surprise; I am more astonished that politicians are so ignorant of the trend that they appear once in power; they become drunk and assume they can do as they like, and their own people cheer. Turn the economy down as our ECM has done as of May 7th, 2024, and the politics will ALWAYS change. I do not even need Socrates to make that forecast. It is a simple historical fact. Even Herbert Hoover was elected at the top in 1928 and since the ECM peaked in 1929.75, they were naming shanty towns – Hooverville. Of course it was not his policies, but that does not matter. Turn the economy down, and you will ALWAYS get political change or civil unrest.
Macron has called a Snap Election June 30th with the second round July 7th. Mcron was the peacemaker at first, but he has flipped and become the leader of the warmongers. I have warned that was likely because his popularity had crashed and as such they think that they can retain power by going to war for typically in war people do not change horses. However, when we look at the dates, we have a Directional Change for the week of June 3rd, and that has panned out as expected, with serious political gains for the far right. Now look at the target of July 8th, when the second round will take place. Note the sharp right in volatility leading into a Panic Cycle by the end of July.
Even when we look at the timing array from last April, May was the target, and then look at the trend from June into August with a Panic Cycle in September. So far, these European politicians have created inflation, attacked farmers without just cause, threatened war with Russia, and ignored citizens’ concerns, yielding to extreme movements such as the Climate Change nutjobs without ANY scientific evidence whatsoever. They have stood by silently while the American Neocons blew up Nord Stream, singing fuel prices higher and undermining the German economy. But, hey – we have to get Putin! Is it any wonder why the LEFT has lost? Even the Greens in Germany lost big time. Philippe Lamberts of Germany’s Greens/EFA had to admit that the exit poll was “not a victory” for their movement.
After initial projections, the far-right in France with the National Rally (RN) party of Le Pen came out on top with 31.5% of the vote, more than double the share of Macron’s Renaissance Party, which barely made it to second place with 15.2% of the vote, just ahead of the Socialists in third with 14.3% of the vote.
In Portugal, it was their center-left Socialist Party (PS) that appeared to be heading for a marginal victory as they positioned less than 1% ahead of the center-right Democratic Alliance (AD), according to an exit poll from the European Parliament.
Manfred Weber, the chair of the European People’s Party (EPP), one of the war-mongering establishments, said he would try to shut far-right parties out of any governing coalition. This is how arrogance prevails over democracy. He effectively declared business as usual. He was turning more to the left, urging them to be more mainstream and join the EPP’s “pro-European, pro-democratic alliance.”
Even when we turned to the Euro, this coming week was a Directional Change once again confirmed a political upset on the June 9th elections.
Europe’s migrant crisis has been multiplying since 2015 when former German Chancellor Angela Merkelopened the gates to Syrian refugees. Everyone and anyone is now descending upon Europe, and with the backing of a centralized government in the form of the European Union, no agency can curb the unsustainable migration crisis because the invasion is deliberate.
Lionel Shriver, head of Frontex and the EU’s border and coastguard coalition, has said that there is nothing that can be done to control migration. “To put it bluntly,” the Dutchman Hans Leijtens told an interviewer from Germany’s Die Welt, “nothing can stop people from crossing a border, no wall, no fence, no sea, no river. Sometimes it’s pretended that you can just put a lid on top of the bottle, and then the migration stops. But that’s a misconception.”
Frontex’s budget increased from €143 million for 2015 when the crisis began to €543 million for 2021. The budget is expected to reach €10,000 by 2027. Now, what is the point of enforcing the border when the politicians are openly welcoming illegal migrants? The corrupt European Commission transformed Frontex into the European Border and Coast Guard Agency in 2015. At the same time, Merkle and others were urging refugees to head to Europe where they would receive a state-funded life.
“Who am I to condemn migrants?” Hans, the man responsible for controlling migration, said. “This talk of ‘stopping people’ and ‘closing borders’ can’t be our narrative all the time. My job is to strike a balance between effective border management and respect for fundamental rights.” Basically, he must appease Brussels and has no authority to act in a way that goes against their narrative.
Similar to the US, the people in charge refuse to recognize that there is a massive migration crisis happening. The house is burning but they will not call the fire department because they refuse to see the flames. Europe’s migrant crisis started before America’s because an anti-establishment candidate who did not obey the globalist agenda secured the vote. All of the World Economic Forum, BUILD BACK BETTER, nations are aligning on a policy of open borders despite the social and economic consequences.
Posted originally on Dec 29, 2023 By Martin Armstrong
Europe has laid the groundwork for World War III and the destruction of Europe as a whole, all to save its failed fiscal management of the economy. Using the Ukrainian war that the West instigated by promising democratic elections to the Donbas in BAD FAITH just for being Russian, the European Union Council adopted a 12th sanctions package against Russia. This time, they sealed the fate of the world and Europe by also announcing that the end of this contrived Ukrainian war would not be lifted after the conflict ended. From the very beginning, Europe negotiated in BAD FAITH with the intent of creating war. They promised to allow the Donbas the dignity and respect every human society deserves – the right to determine their own fate by a free election.
The Donbas was to be allowed to vote on their independence all because Nikita S. Khrushchev had merely redrawn borders for administrative purposes, designating that they would be governed from Kiev. The New York Times has put out real propaganda just as they once hailed Stalin as the economic model for the United States back during the Great Depression. When Gareth Jones (1905-1935) in March of 1933 exposed the New York Times reporting as propaganda, the truth finally began to appear. However, it still took the New York Times until 1990 to admit they engaged in fake news pushing communism on America. The NYT wrote that their reporting on the Russian Revolution constituted “some of the worst reporting to appear in this newspaper.” Their journalist Duranty even supported Roosevelt’s New Deal. He helped install drastic progressiveness in taxation. This time, the New York Times outright lied:
“Mr. Putin is repeating his longstanding argument that Ukraine’s borders are an artificial creation of Soviet planners who unjustly cordoned rightful Russian land within the Ukrainian Soviet Socialist Republic.”
Is the New York Times just cheering on World War III in hopes of resurrecting a totalitarian state in the aftermath?
Anyone with any sense of history knows that there was NEVER a Ukraine, and the border of Russia under the Tsars was the Dnieper River. The very name “Ukraine” means borderland. They joined with Hitler, who promised them their own country upon his victory. Kiev was the birthplace of the Rus (Russians), whose city was destroyed by the Mongol invasion of 1240AD. They were dispersed, and eventually, Moscow began to rise as a city.
This is why, to this very day, much of Eastern Ukraine is still the homeland of Russians who were promised to be able to hold their own election to separate from Ukraine to rejoin their own ethnic people. It was Khrushchev who redrew the borders, as Putin stated during the Soviet Union period.
Not only did Khrushchev rise through the ranks to head Russia after being in charge of rebuilding Kiew after World War II, but his successor, Brezhnev, was born in the Donbas, which the West wanted to now claim was Ukraine to provoke war.
There are NO Ukrainian coins. The earliest coins of Kiev are that of the Rus or Russians. After the fall of Kiev to the Mongols in 1240, there were no coins. Money became foreign Byzantine coins or silver ingots known as hryvnias. During World War I, there was a brief attempt West of the D River, creating the Ukrainian Revolution of 1917 to 1921. This involved some paper money that was briefly issued. The first coinage of Ukraine as a nation was in 1992. Because the Rus displayed a trident on their coinage, today, the Ukrainians try to claim they were their coins, but this was just not true.
The war for the territory that was NEVER the borderland and thus NEVER occupied by Ukrainians amounts to a territorial grab. It would be as if Mexico seized Texas and then outlawed English as a language. Over 500,000 Ukrainians have died in these proxy war games waged by the West. Merkel has so much blood on her hands that it will NEVER be washed off. She will go to her grave with the stain of so many people who have died for her treachery. Is it truly worth the destruction of Europe all for this nonsense of personal hatred of Russians because they were once communists? Or is this really just a cover-up for the economic collapse of a failed Western economy that borrows every year with no intention of ever paying off any such debt?
The Ukrainians hate Russians so profoundly that they have outlawed their religion, and now Ukraine has even abandoned Eastern Orthodox Christianity. They have now announced that Christmas will be that of Western Christianity – December 25th. Whatever they can do to offend every Russian living in what they claim is Ukraine, they are doing, and the West supports this abuse, even denying the freedom of religion. All of this is because the West needs war as the excuse for the collapse of the monetary system.
The people of Russia never wanted to return to the days of the Soviet Union. Once they tasted freedom, all the propaganda that Putin wanted to resurrect the old Soviet Union was just nonsense. Rome was the greatest empire ever to exist, with decades of peace because everyone benefited from the common market. Europe has chosen hatred rather than prosperity driven by the Neocons, who now also control NATO. The future is being determined right now. Europe has just condemned its own people to war. For what? To deny the people of the Donbas what the West had promised under the Minsk Agreement? Or are they, too, just pawns in this game to retain power?
The new sanctions package they recently announced includes a ban on the import, purchase, or transfer of diamonds from Russia beginning on January 1, 2024, and tightens enforcing a Western price cap on Russian oil at $60 a barrel. Worse still, they have violated international law and set a highly dangerous precedent whereby some 61 people and 86 Russian companies were also sanctioned, according to a list published by the European Commission. They have even sanctioned Putin’s cousin, Anna Tsivileva, and the son of former Russian President Dmitry Medvedev, Ilya Medvedev. If there is a dispute between countries, this precedent destroys the rule of law and the world economy. So if a war between the US and China unfolds, then each side can confiscate the assets of private citizen based entirely on their race and ethnic background.
The world economy has been torn to shreds. It will NEVER return before 2032. We are looking at the economic decline our Model warns will unfold between May 7th, 2024, and 2028 as we head into 2032. The leaders of the West are NOT interested in peace. They are brainwashed by the Neocons and NATO, which has been scared to death that peace with Russia makes them irrelevant. So, to retain all the jobs in NATO, their self-interest is always to talk up war. Peace means they are no longer relevant or necessary.
This is NOT my personal opinion. If I could stop it, I certainly would. Our leaders are playing with more than fire; they are playing with the destruction of Western Society as we have known it since the end of World War II. These stupid sanctions have ensured that globalization has come to an end. It was that economic interconnection that created the countless years of peace under the Roman Empire – Pax Romana. The cornerstone of civilization is free trade. When everyone benefits by joining together, the economy expands, and peace flourishes.
What our illustrious leaders are doing is following the Neocon recipe for war. Impose sanctions, wage economic war, and the people will overthrow their governments. The Russians and Chinese are NOT stupid. They know who is waging this economic war, and it is the West. The West has undergone a coup like Rome many times. The Neocons are in complete control of the White House and the EU, not to mention the NATO – The North American Terrorist Organization. These people are trying to conquer the world, not much different than the ambitions that drove Alexander the Great (336–323BC), Hannibal (221–202 BC), Julius Caesar (58-44BC), Attila the Hun (434-453), and Genghis Khan (1206-1227), Napoleon (1799-1815), Adolf Hitler (1934-1945), Josef Stalin (1924-1953).
Cyclically, 2024 is right on schedule with Russia’s 72-year revolutionary cycle. Many have dreamed of the conquest of Russia, for it is one of the wealthiest nations in natural resources, which include gold, platinum, and diamonds. Russia produced platinum coins between 1828 and 1845. No Western Nation was ever able to produce Platinum coinage.
Indeed, just before the Communist Revolution of 1917, Russia had the largest gold reserves of any nation on earth. For nearly 100 years, people have been searching for those gold reserves, which weigh nearly 500 tons (a ton equals 32,150.7 troy ounces of gold). That is 16,075,350 ounces or $32.150 billion at $2,000 an ounce. The Russian Empire’s gold reserve fell into the hands of Alexander V. Kolchak in November of 1918 when he overthrew the government in Siberia supported by the Triple Entente allies. Kolchak was the leader of the White Anti-Bolshevik movement in Siberia during the years of the Russian Civil War. The gold was transported from the capital, Petrograd, during WWI because of the German threat of invasion of the city.
Kolchak’s gold, as it has been called, has been looked for on the Yamal Peninsula. Others suggest carts with Kolchak’s gold might have been found in the Altai Region. Still, others have said that Kolchak’s gold was dropped into Lake Baikal. These headlines have been following the search for the Russian Empire’s gold.
For the first time since World War II, German troops have crossed Poland, moving to Lithuania to defend the border with Belarus/Russia being stationed there until 2027. NATO cannot admit Ukraine as long as it is at war. Therefore, NATO is seeking to create the same situation in the Baltics, and the people of Estonia, Latvia, and Lithuania are now to be sacrificed on the altar of the Neocons along with the more than 500,000 dead troops of Ukraine and the 8 to 10 million Ukrainian refugees who have fled to Europe with no intention of returning home.
Estonia has passed the same law as Ukraine, outlawing the Russian language to discriminate against the Russian population that lives there. Can you imagine if the US outlawed Spanish or Canada outlawed speaking French? This is a deliberate act to invoke a response from Russia as they did to the people in the Donbas. NATO wants war, and they are determined to create World War III. Nobody is interested in peace whatsoever.
Lithuania is now considering imposing a “WAR TAX” on its people, as reported by the local press- BNS. Yet, BNS interviewed 16 economists, who agreed that increasing defense funding is necessary. However, they disagree on whether it needs a separate tax, with only five supporting that. This tax they seemed to foolishly tell the people they are seeking to boost their deterrence capabilities, insisting that it will not be possible to rely on borrowed funds alone.
News agency BNS asked sixteen economists and experts to evaluate the defense tax idea this year. Five would tend to support it; eight believe that a separate tax is not necessary. BNS also noted that the tax can be debated, but would the taxes collected be used transparently and according to the intended purpose? Another emphasized the priority is to have not only resources but also robust and efficient government institutions.
The design of the Euro was unsustainable in the long term. The ONLY way the Euro could have competed with the dollar was to consolidate the debts. However, Chancellor Kohl knew he would have lost 7:1 had he allowed the German people to vote on joining the Euro. So, he admitted he denied any democratic principle, took Germany into the Euro, denying the people a right to vote, so the compromise was that there would be no debt consolidation. I know since the commission came to our 1998 London Conference, and I warned then there would NEVER be a single interest rate in Europe for the member would be no different from the states in the USA – each pays a rate based upon their credit score.
Unfortunately, now, with debt crumbling beneath the surface, they need to escape responsibility for the coming sovereign debt crisis. The way to do that is W A R! They are pushing hard to get Sweden into NATIO.
This is the unspoken agenda. Sadly, these people in power do not care about the people. There are too many of us anyway, according to Bill Gates. They are deliberately seeking to use the Baltics to try to get Russia to take the bait to justify World War III. NATO is also expanding its authority to Asia, knowing that this will be a war between the West, Russia, China, North Korea, and Iran, just for starters.
The small nation of Estonia is also desperately trying to sacrifice its people for NATO and the Neocons. Prime Minister Kallas is using Estonia’s strategic position to further this proxy war with Russia. She has outright stated that negotiating a peace deal with Putin is off the table. She is willing to sacrifice her own people for personal safety before she gets a free flight to the USA.
She deliberately fails to mention the Minsk Agreement and how the West negotiated peace in bad faith because this has been the intention from the very start – to create World War III to end democracy and move to a totalitarian state proposed by Klaus Schwab and the end of the United States as all power is then usurped into the United Nations.
While the hubris is a little stark, it’s worth contemplating that Facebook, META, Insta, Google, etc are likely involved in current behind-the-scenes activity that will keep compliance with the EU dictates.
The Dis, Mis, and Mal, information police are likely in full deployment. Not only in the EU and Canada, but also to a quieter extent in the U.S. systems.
Funny, how they are not worried about Ukraine misinformation. However, Israel -vs- Hamas misinformation… bad mojo.
Posted originally on the CTH on July 31, 2023 | Sundance
Italian Prime Minister Georgia Meloni sounds slightly less nationalist and slightly more globalist in this interview as she discusses the current challenges for Italy within the European Union. With a large focus on the African continent, mostly driven by root cause illegal immigration, Prime Minister Meloni outlines how supporting the African economic needs are a pragmatic solution to the outflow of migrants. {Direct Rumble Link} – WATCH:
We have been getting readings in France keeping us up to date in this huge Pension Protest and many see this as rising tension toward Revolution. While politicians dump money into Ukraine with no accountability whatsoever, they turn on their own cities and tighten the economic screws.
There is no question that Socrates has correctly forecast the rise in civil unrest. But this is just the first quarter. Things are going to get much worse. From April on, we are looking at rising volatility in many areas. The mega protest in Paris over the Pension Crisis has not even touched on the war that these people are planning as a distraction from the fiscal mismanagement.
The government will always paint protesters are violent. In the USA, the Democrats called the January 6th protest an “insurrection” when there were no guns. The prosecutors who are always against the people, want to imprison anyone in the building for 5 years just for being there. In Canada, the government called the truckers terrorists, and again they had no weapons. In Paris the government instructed the police that they ate there “to destroy, to injure and to kill” to make sure the police do not switch sides. When the police join the protester, as in Ukraine in 2014, the government falls. The same took place in Moscow during the coup and the military refused to shoot the people so the coup collapsed.
There is always a pattern where the government at the end of the day will always view the people as the ultimate enemy. As long as we remain quiet, pay our taxes, and go off to war when they order us to die on foreign soil, then they are happy. When people rise up, then there is a problem. Revolution is ONLY successful when the police/military support the people.
Posted originally on the CTH on January 1, 2023 | Sundance
This is an interesting interview in that International Monetary Fund Globalist Director Kristalina Georgieva seems to be laying the landscape for some truthful economic news to surface on the geopolitical level; albeit keeping up the globalist pretenses around western collective energy policy.
One of the more important points Mrs. Georgieva hits on is the reopening of China, from district level COVID bubbles as a containment feature, and the likely impact it will have on global supply chains. Mrs. Georgieva is correct on this issue.
China continued operating their industrial manufacturing base (despite COVID) because they built strict covid isolation bubbles around their industrial sectors geographically. However, with China lifting those isolation bubbles, there is a great potential for the manufacturing sectors to be hit hard by short to medium term virus outbreaks. This could/will have the potential ripple effect of global supply disruptions.
In an ironic twist, ‘deglobalization’ is now a 2023 catchphrase as various nations realize having their supply chains both dependent and interconnected is not good when there are interruptions. A new discussion centering around being dependent on China is the specific issue now being raised. However, the globalists are isolating their viewpoints only to raw material resourcing and development. WATCH:
[Transcript] -MARGARET BRENNAN: I want you to take us around the world and kind of us give us that global view. Let’s start in China. China has been this hub of cheap manufacturing for the world, we are all so dependent on it but right now it looks like COVID cases are exploding as they start pulling back those zero COVID restrictions. What will that mean for the global economy Longterm and short-term?
GEORGIEVA: In the short term, bad news. China has slowed down dramatically in 2022 because of this tight zero COVID policy. For the first time in 40 years China’s growth in 2022 is likely to be at or below global growth. That has never happened before. And looking into next year for three, four, five, six months the relaxation of COVID restrictions will mean bush fire COVID cases throughout China. I was in China last week, in a bubble in the city where there is zero COVID. But that is not going to last once the Chinese people start traveling.
MARGARET BRENNAN: Because they also- they don’t have an effective vaccine right now.
GEORGIEVA: The- the vaccinations fall behind. They have not worked on anti-viral treatments and how that can be offered to people, and so they will go through this tough time. If they stay the course, and this is our advice, stay the course, over time they would be able to catch up with the rest of the world, both in terms of focusing their vaccinations, bringing mRNA vaccines into China, expanding antiviral treatment, and the economy would function. But for the next couple of months, it would be tough for China, and the impact on Chinese growth would be negative. The impact on the region would- would be negative. The impact on global growth would be negative.
MARGARET BRENNAN: Because this is the second-largest economy in the world, and we’ve learned how dependent the world is on the Chinese supply chain. So do you expect then, a domino effect? Will inflation get worse, because all of a sudden there aren’t workers healthy enough to go to factories in China?
GEORGIEVA: We expect that there would be counterweight from the sheer opening of the economy, because up to now, the biggest impact on global value chains came from restrictions due to COVID. When you close down a big city or a big port, the repercussions for the economy is- are significant. Now, we would have the impact of people getting sick, not going to work, but the economy would be open. So the expectations we have for China is to gradually move to a higher level of economic performance, and finish the year better off than it is going to start the year. But you’re absolutely right, the world has relied on China’s growth for a long, long, long time. Before COVID, China would deliver 34, 35, 40% of global growth. It is not doing it anymore. It is actually quite a stressful for the- for the Asian economies. When I talk to Asian leaders, all of them start with this question, what is going to happen with China? Is China going to return to a higher level of growth?
MARGARET BRENNAN: You’ve said that you fear that we are sleepwalking into a world that is poorer and less secure because of a split in the global economy between the US and China. What do you mean by that? Do you see efforts here in Washington to stop it?
GEORGIEVA: It is very easy to reflect on the benefits of the world being more integrated. When we look back over the last three decades, the world economy tripled because of this reliance on an integrated world economy. Who benefited the most? Emerging markets and developing economies, they quadrupled. But rich countries also benefited, they doubled in size of the economy. So we have to be careful not to throw the baby out with the bath water. Yes, the way we have operated created excessive dependency in global chains. We were too focused on costs, how can we make products cheaper. And COVID and then the senseless war Russia started against Ukraine has shown that this is not enough. We cannot just concentrate on what is cheaper. We have to think of the security of supplies and that means diversify the sources of products that make the economy function well, lifting up the level of cost. That economic logic is not only appropriate, it is a must to follow. But we shouldn’t go beyond. We shouldn’t say, okay, we break the world into blocks, one works here, the other one works there because the costs are very, very high. We calculated that just trade, limiting trade into two blocks, would chop $1.5 trillion from the global GDP year after year after year.
MARGARET BRENNAN: If you tried to separate the US and China?
GEORGIEVA: You separate- you separate them, there is an excessive cost. So the logic should be where for security reasons there has to be careful recalibration of supply chains, do it, but don’t go beyond- don’t go into benign areas of products that have no strategic significance but they benefit the US consumer, they benefit the world economy. And this is what we are arguing for, don’t go in a direction in which this separation would make everybody poorer and the world less secure.
MARGARET BRENNAN: So you’re telling Beijing and Washington, figure it out. You can’t be in conflict.
GEORGIEVA: What we have seen in Bali is an indication that this rationale–
MARGARET BRENNAN: You’re talking about the G20 meeting–
GEORGIEVA: The G20 meeting in Bali, when the two presidents, President Biden and President Xi Jinping, met, they spent three and a half hours discussing exactly that. Where is the point of contact that makes both countries better off? And where is that- that there are differences that cannot be bridged and therefore we have to keep them–
MARGARET BRENNAN: The US is trying to block some Chinese technology companies from doing business here. They’re taking measures that are drawing some pretty bright lines between the US and China. Is that tolerable?
GEORGIEVA: We always prefer countries to seek their common interest in economic integration. And when you start breaking the interactions that are based on fair trade, you harm your own people, you not only harm the- the Chinese and therefore it has to be thought through very carefully. Again, I want to be very clear, some diversification of supplies for the security of supply chains is necessary. COVID taught us this lesson, the war taught us this lesson. So the U.S. is right to look into some areas where strategically they need to guarantee the functioning of the U.S. economy without interruptions. But do that keeping in mind the interests of the American people that would like to still have prices moderating, and actually, when we think about prices, one good news we have for 2023 is that towards the end of the year, we do expect inflation to trim down. So don’t take actions that may be contrary to that trend.
MARGARET BRENNAN: But you are predicting inflation to slow to six and a half percent from about 7%. Is that right?
GEORGIEVA: Well, towards the end of the year, we- we project it would go even further down towards the end of 2023, provided central banks stayed the course. Our big worry is that with the economy slowing down globally, we are projecting global growth to go down to 2.7%, maybe even lower next year. Remember, 2021, it was 6%. It dropped to 3.2 this year, 2022. And it will continue to drop down if central banks get the cold foot and say, ‘oh, my god, growth is slowing down, let’s slow down the fight against inflation.’ We risk then inflation to be more persistent. So our message is to central banks, you have to see credible decline in inflation and only then you can think about re-calibrating rate policy.
MARGARET BRENNAN: One of your IMF researchers gave a pretty dire prediction. Overall this year, shocks will reopen economic wounds that were only partially healed post-pandemic. In short, the worst is yet to come and for many people, 2023 will feel like a recession. What do you need to brace for?
GEORGIEVA: The- this is- this is what we see in 2023. For most of the world economy, this is going to be a tough year, tougher than the year we leave behind. Why? Because the three big economies, U.S., E.U., China, are all slowing down simultaneously. The US is most resilient. The U.S. may avoid recession. We see the labor market remaining quite strong. This is, however, mixed blessing because if the labor market is very strong, the Fed may have to keep interest rates tighter for- for longer to bring inflation down. The E.U. very severely hit by the war in Ukraine. Half of the European Union will be in recession next year. China is going to slow down this year further. Next year will be a tough year for China. And that translates into negative trends globally. When we look at the emerging markets in developing economies, there, the picture is even direr. Why? Because on top of everything else, they get hit by high interest rates and by the appreciation of the dollar. For those economies that have high level of that, this is a devastation.
MARGARET BRENNAN: And I want to- I want to come back to you on that. And just to explain that for some of our listeners, a stronger dollar, it’s good for Americans when they go shopping abroad. It’s not good for poor countries who have taken out loans, for example, and borrowed money in dollars. And according to the IMF, 60% of low income countries are in distress because of this- this debt. So what does that look like? Do you- do you see governments collapsing with defaults? Does that bleed into the global financial system? I mean, how much of a contagion does this become?
GEORGIEVA: So far the countries that are in that distress are not systemically significant to trigger a debt crisis. Let’s just look at the map, which are these countries? Chad, Ethiopia, Zambia, Ghana, Lebanon, Surinam, Sri Lanka, very important for their people that we find the resolution to the debt problem, but the risk of contagion is not as high. However, if that list continues to grow, and let’s remember, 25% of emerging markets are trading in distressed territory, then the world economy may be for a bad surprise. And this is why at the IMF, we are working very hard to press for debt resolution for these countries and we have engaged the traditional creditors, the Paris Club, the non-traditional creditors, China, India, Saudi Arabia. I would call this very simple: urgency, we have to act. When I look at the- the debt of the world. Yes, we have to be concerned. During COVID, what did we do? Everywhere governments borrowed, rightly so, to help their people.
MARGARET BRENNAN: Money was cheap.
GEORGIEVA: Money was cheap, and we prevented a collapse of the world economy. That was the right thing to do. But once Russia invaded Ukraine and that added impetus to inflation, money is not- not cheap anymore. So what is the advice we give to governments? Focus on your budgets, make sure that you have sufficient revenues to collect and that you spend very wisely.
MARGARET BRENNAN: That’s good advice, but it’s not always easy politics to follow that advice, as you know–
GEORGIEVA: Of course it is not.
MARGARET BRENNAN: And so that’s why I want to- if- if you can explain for our viewers. You know, we spoke to the CEO of JPMorgan Chase, Jamie Dimon, recently, and he said he sees the global risk as explosive right now. He was saying things like migration, energy, national security, liquidity in the banking system, war, these are all the knock on effects of a government not being able to pay its bills and not being able to deliver for its people. Is that what you are seeing too?
GEORGIEVA: Well, what we’re seeing is the world has changed dramatically. It is a more shock prone world. The lessons we learned from the last couple of years are that no more we operate with relative predictability of what the future would bring. And these shocks COVID, the war, costs of living crisis, they compound their impact. What does that mean for governments? First and foremost, it means that we need to change our mindset towards more resilience, more precautionary actions. And at the IMF, this is what we tell our members. Act early, don’t wait until the problems deepen. And for those who need help, this is why we exist for the developing countries. The fund is a source of resilience and I am- I am very pleased that many of our members are coming to us. Just since the war started we got 16 countries coming for programs to the IMF, $90 billion in support for these countries. And right now we have 36 requests. So that acting early, when you see trouble, look for ways to strengthen your fundamentals, to have buffers to protect you and your people. This is the advice we give to governments. For those who don’t know the IMF, we were created from the ashes of the Second World War to stabilize the world economy. And at a moment like this, we come strong to help our members. My message, don’t think that we are going to go back to pre-COVID predictability. More uncertainty, more overlap of crises wait for us. Rather than crying for the time we had, we have to buckle up and act in that more agile, precautionary manner I described.
MARGARET BRENNAN: I want to make sure I get to Ukraine because I know we’re running out of time. You’ve said- excuse me- you’ve said the single most negative factor in the global economy is the war in Ukraine. And Vladimir Putin says this is going to go on for some time. President Zelensky said they need $55 billion in foreign support next year. He expects $20 billion from the IMF, is he going to get it?
GEORGIEVA: We are working on providing support for Ukraine. So far, out to the international financial institutions, we have provided the largest amount of financing for Ukraine, $2.7 billion in emergency financing, and we are working for 2023 to be a significant part of the support for Ukraine. I expect that sometime early in the year we will go to our board with the request. We have assessed the needs of Ukraine to range somewhere between three and five billion dollars a month. What Putin did with destroying critical infrastructure in Ukraine, this is horrific, and it means that in the next months the country would be more on the high end of this range because it is put in an awful position to have to restore access to electricity, to heat, to water. I have relatives in Ukraine. What I- what I know from them is it is cold, it is dark, and it is scary. Bombardments of civilian areas continue. What I also want to say is that Ukraine has proven to be remarkably resilient. Ukrainian economy is functioning. Pensions are being paid. When there is bombardment, restoration of energy, water, heat is done very quickly and we see revenues collected in Ukraine in a very disciplined manner to support the functioning of the country.
MARGARET BRENNAN: So the government’s not going to collapse?
GEORGIEVA: The government is very well functioning under incredibly difficult circumstances. No, they’re not going to collapse. And then the other thing that is so remarkable is actually the world has proven to be more resilient than we feared, a year in the beginning of the year. We look at the response to the energy shock in Europe, and Europe is moving towards independence from Russia decisively. Yes, there will be a tough winter, maybe the next one would be even tougher, but freedom from dependence on Russia is coming. It is going to be there.
MARGARET BRENNAN: I want to ask you two questions before we go. How do you describe the state of U.S. economics and politics?
GEORGIEVA: The US economy is remarkably resilient. Decision making in the US because of the way the political set is at the moment, it is more difficult. But nonetheless the US has taken some very important steps that are helping to the US economy. Like the child tax-
MARGARET BRENNAN: The tax credit. It expired.
GEORGIEVA: The credit that is it. It is contributing so significantly to reducing poverty in the US, like the infrastructure bill, like the Inflation Reduction Act. These are things that are bringing more dynamism in the US. Good for the US, good for the world. And of course staying on that course is going to be more challenging. But I do hope that the US is not going to slip into recession despite all these risks. We expect one third of the world economy to be in recession. And yes, as you said, even countries that are not in recession, it would feel like recession for hundreds of millions of people. But if that resilience of the labor market in the US holds, the US would help the world to get through a very difficult year.
MARGARET BRENNAN: And as I let you go, my final question is what leaves you hopeful in 2023?
GEORGIEVA: What leaves me hopeful is that I know when we work together, we can overcome the most dramatic challenges. In 2020, the world came together in the face of tremendous threat and was able to overcome this threat. In 2023 we have to do the same. And in this world of ours, of more frequent and devastating shocks, we have to hold hands, we have to work together. And my institution is there to bring together economic policymakers so we can be wise and persistent in the face of truly dramatic challenges we face.
MARGARET BRENNAN: Madam managing Director, thank you for your time this morning.
The revelations coming from Elon Musk gaining access to Twitter demonstrate that the LEFT is the greatest danger we face to civilization and there is absolutely no reason still stand for the United States to remain as one nation. The hatred of the LEFT is so pervasive it is off the charts – but then again, the LEFT historically always seeks to oppress all opposition.
The LEFT has been the source of countless wars to dominate society. The 1848 Revolutions devastated most of Europe. The American Revolution which lasted 8.37 years and the French Revolutions were against Monarchy – not a LEFTIST philosophy, which rose again during the mid-19th century. What most people have no idea about is that this philosophy of suppressing human nature has been around for a very long time. The 1848 Revolution was precisely on time and our model on LEFTIST Revolutions begins with the birth of Sparta around 889 BC.
The very word “SPARTA” means self-restraint. As I have written before, Sparta NEVER issued any coinage. They lived under a rigid oligarchic constitution and this is when they hayed Athens and waged the Peloponnesian War against them for their capitalistic freedom despite the fact that it was Athens that defeated the Persians in 480BC. It was Sparta’s constant LEFTIST philosophy that led to the invasion of Rome in 146 BC and their conquest of the Peloponnese at the Battle of Corinth: The Romans under Lucius Mummius defeated the Achaean League near Corinth. Corinth was destroyed, and the Achaean League dissolved.
Just as the LEFT claimed that Putin interfered in the 2016 election and 70% of Democrats ended up believing that story, even the exposure of RussiaGate as a total fraud has not changed the minds of the LEFT – they just ignore the fact. Ironically, CNN went after Trump to remove him from office in 2020 because they were actually manipulating the news back in 2016 always giving Trump more time over 17 other Republicans because they thought he would be the weakest candidate and Hillary would win.
Now we have Musk dumping the Twitter files that reveal once again the LEFT interfered in the election. The latest release of Twitter files reveals that their employees did not believe former President Trump had violated Twitter’s policies. Nonetheless, they yield to the LEFT to ban Trump from Twitter to manipulate the election. This release shows:
“I think we’d have a hard time saying this is incitement.”
They added: “It’s pretty clear he’s saying the ‘American Patriots’ are the ones who voted for him and not the terrorists (we can call them that, right?)…”
Another staffer agreed, writing: “Don’t see the incitement angle here.”
“I also am not seeing clear or coded incitement in the DJT tweet,”was the comment written by Anika Navaroli, the Twitter policy official.
“I’ll respond in the elections channel and say that our team has assessed and found no vios for the DJT one.”
In fact, the LEFT rose up again in Paris for another Revolution. They created the Commune Movement in Paris where there was to be no property and everyone would be happy – i.e. Klaus Schwab & the WEF. Indeed, the very term “Communist” was coined there in Paris. Karl Marx was initially a socialist. It was the French who convinced him that all private property should be owned by the state creating a Commune.
Ironically, the last turning point of or Leftist Revolution Model was in 2009. It was at the WEF in 2019 that they release the Build Back Better slogan for all governments to use. The next one is actually in 2032 but it will start to accelerate from 2024. We can clearly see how polarized society has become. This is also the Sixt Wave so we are looking at a major attempt to suppress society under the same philosophy pf the Oligarchy that seized control of Sparta. The elites are behind this own and they always make it sound like they are doing this for us. But in truth, this is all about their power and total control.
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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 