“The President thanked them for saving lives and asked for a report on the work that continues to rescue Floridians. He also asked if they needed any additional support that he can provide to accelerate successful rescues; they indicated they have gotten what they need to execute their vital mission.” Biden failed to even work with DeSantis for hurricane relief efforts. He doesn’t care about Floridians because he knows we are not voting for him.
There is one major thing Biden could do for Zach Loesch and countless others – end the vaccine mandate. Loesch had his religious exemption request denied and will be discharged from the service in 30 to 60 days. I cannot imagine a more disrespectful phone call than hearing the president congratulate you for your heroic work before firing you. Unbelievable.
QUESTION: Mr. Armstrong; Nobody knows history better than you. Will QE continue if we end up in war? It seems there would be no choice.
Thank you for your very enlightening blog.
PG
ANSWER: Yes. The Fed was “directed” by the White House to carry out QE during World War II. They were to prevent interest rates from rising and the debt rose. That finally led to the Federal Reserve breaking with the White House after the war when they expected it to continue for the Korean War. That is when the Fed asserted its independence.
This time, we may have a different problem. As the war unfolds in Europe, the capital will flee as usual to the States. But the money supply will have to increase because the dollar will become the only viable currency still standing. That is why you are witnessing the pound and the euro collapse. Things will unfold differently this time. The Fed has been raising rates to fight inflation that will fail because this has to do with shortages – not speculation.
The October 3, 2022 Emergency Meeting was closed to public observation by Order of the Board of Governors because the matters fell under exemption(s) 9(A)(i) of the Government in the Sunshine Act (5 U.S.C. Section 552b(c)), and it was determined that the public interest did not require opening the meeting. That said, the Fed is faced with a triple crisis – liquidity, banking stability, and an inevitable Sovereign Debt Crisis. As interest rates have risen based on domestic inflation rates, simultaneously, the higher rates have undermined both European banks as well as Emerging Markets. The Federal Reserve has become the DEFACTO central bank of the world.
This is a crisis similar in part to 1927 when the European central banks lobbied the Fed to lower rates because of their debt crisis. They lowered rates to accommodate Europe and that was then blamed on the Fed for creating the 1929 boom. This is also why FDR then seized control of the Federal Reserve and move the head to Washington and made the Chairman subservient to the President.
I know so many blame the Fed for everything. They are actually facilitating Congress. The Fed has no control over fiscal spending or the debt level. In the end, it is really the debt that has become the money supply that simply pays interest.
There was no US paper money before the Civil War. The first issues of paper money were actually a hybrid bond – they paid interest. The term “greenback” developed for “demand notes” that came later as the cost of the war rose. They no longer paid interest so what was on the back was just green ink – no interest rate table to show what the note was worth.
I will be doing a full report on this subject for the WEC. It is complex, yet exceptionally interesting for what we face.
QUESTION #1: I live in the US. When the sovereign debt explodes, and I will “own nothing “, does that mean that any car, house or property that has a loan on it will become the property of the bank and or government? Does it mean property that is paid off and I hold the title or deed will be taken from me and I will have to pay “rent” to hold on to it? Please answer by my email or on one of your blogs.
Thanks for all you do.
MH
QUESTION #2: Would you ever consider running for politics? Your experience towers over everyone out there.
BB
ANSWER: No, I am not interested in getting into politics. I have always preferred to be standing behind the curtain. If I ever stepped in front, they would quickly figure out a way I could commit suicide with a remote rifle 100 yards away and you can bet the media will say absolutely!
Now insofar as the sovereign debt default, we are looking at governments collapsing which will take down banks that must retain reserves in government bonds. Klaud Schwab is an academic. He has ZERO real-world experience. His ideas will collapse just like Marx for the one element both ignore is human nature. It cost over 200 million lives for Marx to get his theory in place. Communism collapsed because without curiosity and freedom to explore, talk, and think, all advancement of society comes to an end.
Schwab’s idea will fail because the setup is different this time. Marxism succeeded because in Russia serfdom ended only during the 1860s. Therefore, the common people DID NOT own anything and it made sense to raid the rich. This time, people own houses and cars, and they save with pensions and to help their children. This time the common people would have to surrender all their assets so Schwab’s Marxist theories can be implemented.
It is a whole different board game this time around. Our computer has NEVER been beaten by anyone, even me. It sees the future because it is monitoring everything. So while people argue over what they “think” will happen, Socrates just plugs away and lacks that human emotion that interferes with objectivity.
The 30-year bond elected a major long-term Quarter Bearish Reversal on target. This confirms the long-term outlook that we had warned back at the high that we were establishing a 5,000-year low in rates (high in bond prices). The sell signals on bonds at the end of September are very profound. This is also why you have witnessed Klaus Schwab telling everyone you will own nothing and be happy because what he is really saying is that all debt will be wiped out trying to make it sound like they are doing this for you when it is the next sovereign debt default in history.
The last Sovereign Debt Default was 1931 when Europe, South America, and Asia defaulted. Even Britain went into a moratorium on debt payments. Our models turned up on this level in March 2021 and the next Sovereign Debt Default on a grand scale is likely to unfold by 2025.
The Quarterly closing was a confirmation that we are looking at both a liquidity crisis in addition to a banking crisis that is most likely with an epic center in Europe.
Here is the Yearly Chart from 1798 to 2015 that we published back in 2016. The peak came precisely during the 1st Quarter of 2020 with the major turning point on the ECM 2020.05 reaching 191.69 on the 30-year bond. We will be focusing on this triple crisis of liquidity, banking, and Sovereign Debt Crisis at the WEC on November 11-13th, 2022.
As I have said many times, what bottoms or peaks with the ECM major turning points is typically very profound. That has been vindicated once against by the bond market peaking the first quarter of 2020 with the turning point. We have entered the STAGFLATION mode since March 14th as we head into April 2023.
The title speaks for itself. The Fed is going to continue raising rates until inflation shows notable improvement. Some still question whether the Fed will ease on its hawkish policies, but there is absolutely every indication to believe they will continue at full speed. Core PCE rose 4.9% in August from the year prior and increased 0.6% for the month.
Before the aforementioned data was released, Chicago Federal Reserve President Charles Evans said he was “cautiously optimistic” that the US could avoid a recession. “There are lags in monetary policy and we have moved expeditiously. We have done three 75 basis point increases in a row and there is a talk of more to get to that 4.25% to 4.5% by the end of the year, you’re not leaving much time to sort of look at each monthly release,” Evans, who is set to retire next year, said.
The truth of the matter is that the White House simply changed the definition of a recession. The majority is hurting financially right now, and I don’t think we need the talking heads to tell us that we are already in a recession. The typical analysis looks only at domestic conditions, but internationally, most central banks are in the process of raising rates and backtracking on failed QE policies.
Every month there are reports of the market being “spooked” by rate hikes. People come on TV and act surprised that the Fed has the audacity to raise rates yet again. Why? Powell stated in every possible way that the FOMC will raise rates for “some time.” In Powell language, that means rates will continue to rise for a while. The computer foresees havoc going into 2023. Things must get worse before they become better. Unemployment must rise, rates must go higher, and you must adjust your strategy accordingly.
The Internal Revenue Service (IRS) continually makes multi-billion-dollar mistakes. The agency “accidentally” sent $1.1 billion in advanced child tax credits to the wrong families. If a private citizen were to make a mistake on their personal taxes, they’d feel the repercussions – especially with Biden’s 87,000 newly appointed and armed agents.
Now 1.5 million families who received the money “accidentally” will be on the hook to pay it back. As if that were not bad enough, the IRS failed to deliver $3.7 billion in tax credits to 4.1 million households! The tax credit was intended as part of the reckless American Rescue Plan to pay families earning under $150,000 annually and single parents earning under $112,500. This was the largest child tax credit in America’s history – basically, people received “free” money at the expense of the taxpayers simply for having children.
This is the same agency that sent countless stimulus checks to people who did not qualify. Even multi-billionaire George Soros received a stimulus check. They even sent out checks totaling over $267 billion to deceased individuals. The IRS also “accidentally” leaked 120,000 personal online files earlier in the month. The agency continually makes major mistakes. Knowing that there will be 87,000 additional agents, armed, working for this failed agency does not put one at ease.
QUESTION: Do you think this will turn into a nuclear war?
VR
ANSWER: The people never benefit from war. We are the instruments of those in power no matter what the government. There are people who are brainwashed and hate Russia and are demonizing Putin because that is propaganda needed to create war. They are incapable of critical independent thought. There are people trolling social media pretending to be people who are really just the Deep State pushing hatred of all Russians to justify the objective of war. The attack on the Nord Stream Pipeline came interestingly as a key target week.
If the intelligent people bothered to verify all facts before making rash decisions, they would see that the Neocons who spread this hatred have been anti-Russia and praying for war ever since the USSR fell in 1991. ANYONE who claims Russia is evil and America wears the white hat is simply either stupid or a promoter of war for the Deep State. Anyone with 10% of a brain knows well that ALL GOVERNMENTS engage in propaganda – it is NEVER one-sided.
Politico published back in 2008 a record showing that John McCain was always anti-Russian long before Putin ever came to power. It does not matter who is the head of Russia – it never has. Now they pretend Russia would be OK if Putin is removed. That is the typical propaganda always changing to support the same objective. These people are playing a very dangerous game for the hardliners are still there behind Putin and blowing up the pipelines has now shown Russia that this is a war intended to defang and declaw the bear assuming they would even allow it to still breathe. That means that pushed up against the wall, Russia will have no choice but to use at least tactical nuclear weapons.
It was the assassination of the Archduke that launched World War I. That entire region is stained with hatred that goes back centuries. This hatred of the Russian people is merely an extension not so different from the hatred of Catholics in England that resulted in the civil war and the beheading of King Charles I. We are once again looking at drawing the entire world into a conflict that will stain the entire globe with the blood of soldiers and civilians for centuries to come, China will end up siding with Russia as will North Korea, and parts of the Middle East. Just as World War I was over an assassination, the hatred in Ukraine will draw in the world over a patch of land occupied by Russians for centuries. Everyone’s lifestyle will be irrevocably altered by the cheers and the drums beating for war.
I have all the declassified documents and history is entirely different than the propaganda we are led to believe. NATO offered to absorb Russia in 1991. That is what sparked the coup against Gorbachev on August 18th, 1991. The hardliners saw that as the surrender of Russia to the USA – total defeat. That is when Yeltsin stood up on the tank and pleaded with the troops not to support the coup. The military then backed down and support for the coup collapsed.
My sources have always been incredible. I do not make shit up and I do not rely on my opinion. I even have the documents that show Robert Maxwell, the father of Ghislaine the girlfriend of Jeffrey Epstein, supported the coup by cutting a deal backed by Israel if the generals agreed to release all the Jews so they could migrate to Israel. He amazingly fell off his yacht and didn’t know how to swim. Bet you didn’t know that one either. Robert Maxwell was at least a double agent and possibly a triple agent. He met with Russian leaders often. Jeffrey Epstein committed suicide when the guards fell asleep and the video cameras didn’t work that time. Endless coincidences no doubt.
Russia must die in the minds of the Neocons. They will not be satisfied by anything else. The Neocons funded the Taliban in Afghanistan, which was a proxy war against Russia. They then used the weapons against Americans.
The Neocons funded the Chechen terrorists and I have the declassified documents of Yeltsin telling Obama this had to stop. Obama tried to invade Syria because Assad refused to allow Qatar to build a pipeline to Europe. McCain was there at Maidan to support the Ukrainian Revolution and promised support for the Neo-Nazis to attack the Donbas.
Anyone who is pushing the narrative that it’s all Putin and we must wage war against him is preaching the agenda for the Deep State. They have their fake people on social media and direct the mainstream media to push their agenda. As I have said, war is just an extension of politics. The people have NOTHING to gain from war. The best we can achieve is to come home unharmed to a family that is still there.
As Henry Kissinger warned, the Donbas should have been let go. Why fight for land occupied by Russians anyhow? This makes no practical sense unless we look at this as war is just an extension of politics and this is not about the Donbas or even Ukraine. This is simply a thirst for war and it is always the leaders who create war – not the common people on both sides. This is simply a grudge match and we are in the middle.
So the answer is simple. There is no other outcome but war and it will unleash at the least tactical nuclear weapons. The Ukrainian people should understand that they are the cannon fodder and nobody gives a damn about them or their country. This is all about the USA v Russia. You can ignore the facts. As Hermann Goring said: “the people can always be brought to the bidding of the leaders. That is easy. All you have to do is tell them they are being attacked, and denounce the peacemakers for lack of patriotism.” There are no peacemakers left anymore! This is not about supporting the USA or Russia. This is about supporting the people who are always the victims.
The sabotage of the Nord Stream Pipelines was most likely accomplished with US intelligence. Not only is the Biden Administration intent on ending fossil fuels, but this was a strategic maneuver on how to wage war. Just as adversaries would counterfeit each other’s currencies in a desperate measure to undermine their economy to strip them of the ability to fund the war, blowing up these pipelines was a deliberate blow to inflict a death blow to the Russian economy they believe they have Putin on the ropes. Ending Russia’s #1 income, energy, they believe will undermine Putin and lead to a domestic revolution. The problem for the Russian people is that the West will NEVER accept Russia as an equal member. They indeed want to kill the bear completely.
Naturally, there are those claiming Russia blew up the pipelines. Just before this sabotage, Putin said to lift the sanctions and he will return the gas flow as reported on September 7th, 2022. There was NO POSSIBLE WAY that Putin sabotages those pipelines for that was his bargaining chip. That is now gone. He cannot now say lift the sanctions and I will turn on the gas. This was done by the climate zealots who have control of most Western governments. To even blame Russia is in reality proof that they know that this was a strategic play by the West most likely carried out with US intelligence.
The Minsk Agreement brokered by Germany and France was to allow the Donbas to vote on their separation from Ukraine. The West has totally renigged on all of that and this is intentional for the objective here is this Great Reset and the end of fossil fuels. Khruschev grew up there in the Donbas and was in charge of Kiev rebuilding it after World War II before he rose to the leadership of Russia. His successor was Brezhnev who was also born there in the Donbas. This has been occupied by the Russian people since the days of the Tsars. The border of Ukraine was NEVER Ukraine as a nation state. It was Drawn solely by Khruschev for administrative purposes. The Donbas and Crimea were always predominantly Russian
The West simply refuses to recognize that the people in that region are Russian and would naturally vote to join Russia for they are hated by the Ukrainians. In 2014, it was the West that installed a “temporary” government in Ukraine which was UNELECTED and they immediately upon orders from the USA, launched a civil war and attacked the Donbas.
This is so unnecessary and I cannot imagine any world leader before Biden would have DELIBERATELY set the stage for war with Russia. The problem is, Biden is not mentally competent. The climate zealots are running the White House. All they care about is destroying the world’s capacity to produce and utilize fossil fuels.
Unfortunately, our computer has NEVER been wrong on these major trends. It is the ONLY unbiased means of seeing the future for it is not based upon any human opinion for that is all any analyst has at his disposal right now. There is no question that these climate change zealots are out of control. They will kill more people than Marx could ever have imagined. World War III is materializing if we like it or not. We so desperately need a political revolution and vote these people out of their offices to overthrow all of these climate zealots controlling world leaders from behind the teleprompters to even hope to reduce the amplitude of what is on the horizon.
I have met and advised many world leaders. NEVER in my 40-year career have I EVER witnessed such an absurd group of world leaders who are just hurling the world into a major global war all over fossil fuels. There are no peacemakers. Like Biden, all they are doing is reading the word written by someone else. Biden is incompetent and will lead the world into disaster and the real sad part about it, he is clueless as to the risks he is putting the entire population of the world in over fossil fuels.
I know for a fact that the US military is deploying some reservists to Romania to train European soldiers. The reservists have been told that the war will escalate, and as a soldier told me, “things are getting really bad over there.” They will be training the Europeans to fight against Russians for at least six months. NATO is constructing a battlefield in Romania for this extensive training. The Cincu military training facility already exists but is undergoing a massive expansion.
This is precisely what Russia feared long before entering Ukraine. I reported that Russia knows it is fighting the West and not simply Ukraine. NATO has increased its presence around Eastern Europe this year and has no plans to de-escalate the situation. There are over 40,000 troops on the ground across Eastern Europe, and more are set to arrive. In fact, NATO will establish four additional “multinational battle groups” in Hungary, Romania, Slovakia, and Bulgaria.
Colonel Vincent Minguet, the commander of the NATO Combat Group in Romania, said the plan is for “the creation of a permanent, stronger battalion, with more heavy weapons, to prevent any aggression or any destabilization in Romania.” Alarmingly, Minguet believes that training will last for four or five years. They are planning for a long-term ongoing battle fought among numerous nations, aka a world war.
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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
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