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.
Everything he says I have confirmed from other sources. French soldiers who volunteered said the same thing, Ukrainians kill Russian prisoners sometimes ruthlessly. It is a total disgrace that we are supporting these Neonazis – the very people still practicing ethnic cleansing.
All of this anti-Russian warmongering that the West needs desperately to create a war to hide the total collapse of our Marxist-based Socialist Economy where politicians only know how to run by promising free programs for everything.
Blowing up the gas pipeline from Russia to Germany to economically undermine Russia has undermined the German economy as well – the heart of Europe. Pollution levels in the country have indeed at times reached those of the worst polluting countries.
The energy shortages that have been deliberately created have resulted in surging power prices. Germany has been compelled to turn to cut down trees for wood and to boost coal use. All of this has taken place while they are supposed to be committed to fighting climate change and the Greens object to any nuclear power.
To keep the factories operating and just the lights on, Germany is now burning coal at the fastest pace in at least six years. Europe’s largest economy is in serious danger of an economic crisis despite the EU’s drive to phase out all fossil fuel.
Many have asked why our computer has been so bearish on the Euro. Just look at German Real Estate. The high was in 1999 in both nominal and real terms. Then look at 2007. That was the real estate boom in the USA with the Mortage-Backed disaster. It never exceeded 1999 high. Now, look at the 2021 high. Once again, we see a lower high. Here we are 23 years from the 1999 high and still making corrections. Add to all of this the deliberate energy crisis and the rising costs just to stay warm are very serious.
Germany is the heart of the EU. Without a solid economic performance from Germany, the Euro is doomed.
When this hit upper midwest I was in middle school in San Diego. I was in the library every morning before school following this, Voyager and Viking.
I watched another rendition of this video on youtube and it cut out the portion where the chief scientist at Lamont-Doherty (Columbia) stated ice-age conditions can return inside of 10-20 years time at any time (or something like that).
Regards
RD, San Marcos Ca
REPLY: With Ice Ages, we find a similar pattern of cyclical pattern formations as we do in markets. About 2.6 million years ago, that is when the Earth entered the Pleistocene period. This was marked by an interesting cyclical pattern whereby there were these deep ice ages that came at regular 43,000-year intervals. Then about 1 million years ago, the Earth entered what is known as the Mid-Pleistocene transition period. It was here where these ice age cycles suddenly expanded from 43,000-year intervals to nearly 100,000-year cycles. The last one was about 11,000 years ago. This is not referring to the Mini-Ice Age of the 1600s.
What we do know is that there were tiny changes in Earth’s orbit. These events are known as Milankovitch cycles. They are believed to have driven the planet in and out of these ice ages. However, it is also now assumed that these Milankovitch cycles have not correlated to the sudden jump in nearly doubling the Ice Age cycle length.
Preliminary data from Antarctic Ice Core saw a transition from glacial to interglacial conditions about 430,000 years ago which is known as (Termination V). This transition into the present interglacial period needs to be looked at from intensity using our Energy Models. Scientists look at the magnitude of change in temperatures and greenhouse gases. What seems to be overlooked is the cycle of these warming periods. The interglacial stage following Termination V was quite long running the course of about 28,000 years compared to the 12,000 years period so far in the present interglacial period.
What this is warning is that an Ice Age is not entirely out of the question post-2032. I am awaiting access to the data from the 2.7 million-year core and then run it through Socrates to see if we are indeed going to see a 12,000-year interval or a doubling effect. What does appear to be likely, which explains the frozen animals in Siberia, is that we can see an Ice Age hit within less than 10 years.
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