QUESTION: Hi AE…so gov’t “money” (fiat currency) will become just some abstract floating measurement of value, an electronic entry in an electronic account in the cybersphere. As these various so-called gov’ts become less reliable, even between themselves, do you see the possibility of them simply skipping their phony currencies, & trading directly in gold. Russia could ship a specific quantity of crude to China, for a specific amount of gold bars. Your argument about the impracticality of a gold-backed currency makes sense, but what about large transactions being settled in gold?
HS
ANSWER: The entire problem that people do not grasp with regard to any return to a gold standard is that if the money supply is FIXED in any way, that necessitates the collapse of SOCIALISM. The two are directly linked. Politicians only know how to run with deficits. Vote for me and I will give you this or that!
The Bretton Woods gold standard collapsed because they FIXED the price of gold at $35, but they continued to print money far beyond the supply of gold at that fixed price. In addition, you have a business cycle. There will be times when no matter what the money might be, there will be boom times when the value of money declines and the asset values rise.
This argument over gold v fiat is absolutely just nonsense. The wealth of any nation is the productive capacity of its people. For centuries, the business cycle has existed and that is the entire cause for the “inflation” in assets when money declines in value, and then the “deflation” in assets with the value of money rises. Arguing over what we use for money will NEVER stop the business cycle.
The cycle is also in part driven by all governments. It becomes a drug of power that is abused. It would not matter what we use for money right now, they want to create World War III so they can default, and escape from the abuse of this Marxism that they have turned into a system of borrowing every year with no intention of paying anything back. But we have reached the confrontation between Keynesianism where central banks are expected to prevent inflation by rising interest rates, but that has no impact on the government which has become the biggest borrower in the system.
We are going BUST not because of the money we use, but because of the abuse of power in government which has always existed since ancient times.
Trust me. Forget gold standards. They will never work because all governments act only in their own self-interest. You should have learned that with COVID. They will never admit any mistake EVER! It is far better to keep gold on our side of the table and we can then use it as a hedge against governments. They are seeking to move to digital currencies ONLY so they can track when you hired the 16-year-old girl next door to babysit for you so they can go after her for the government’s 50% share.
Even Bitcoin is fiat. There is no backing. People have dived headfirst into cryptocurrency on the entire proposition that they are limited. All they have done is proven my point. Money, historically, has been everything from seashells and cattle to bronze, silver, and gold. Of all the various forms of money, only bronze and cattle had any real commodity value based on utility.
The Egyptians really invented paper money for the farmers would deposit their grain and receive a receipt which was a bearer instrument used in trade. They also used raw metal, not coins, and traded based on weight, as it stated in the Bible. Here is a piece of pottery from Egypt recording a complaint about taxes written in Greek. It stated the sum amounted to a total of 90 talents of silver with 15 talents of tax on the transfer of land – 16.6%.
For thousands of years, Egypt had no coins until it was conquered by Alexander the Great, and upon his death, his general Ptolemy I (305/304 – 282 BC) took the throne and it was his Greek line from which Cleopatra VIII came – not Egyptian.
Our system is starting to implode. Never in the history of human civilization have governments demanded taxes on income requiring reporting every year. This was the gift of Karl Marx. Just as this Egyptian tax on the transfer of land, we see that property taxes and a form of sales tax were the norms.
The American Constitution was intended to give thenational government greater power to raise revenue because the previous Articles of Confederation had been a fiscal disaster. Nevertheless, most people remained fearful of taxation by governments. Indirect taxes were to be the way to secure our liberty from tyrannical governments. It was generally understood that indirect taxes meant taxes on consumption like a retail sales tax and/or excise taxes on imports. It was believed that indirect taxes did not lend themselves to abuse by tyrannical governments. Consequently, the general belief was that “direct taxes” has to be taken off the table. Incomes taxes, throwing out the window of all the wisdom of the ages, were imposed by the new age of Marxism in 1913.
Our computer warns that 2025 will be the turning point in Marxism.
The Federal Reserve raised the benchmark by 25 bps, as expected. The Fed fully understands that the manipulation of the CPI is a necessary aspect both for containing government benefits and understating inflation also results in high tax revenues. The market loves hope, and as a result, they focused on the warning that we’ll be in restrictive territory for just a bit longer. Most still believe that there will be a slowdown in inflation just ahead.
The Fed’s cautionary commentary saying that the “disinflation process” has started triggered shares to jump ending up 1%. This shows how insane the analysis had become that they cheer a recession and think that lower interest rates are bullish for the stock market. Obviously, they just listen to the talking heads on TV and have never bothered to look at reality. When interest rates decline, so has the stock market. Interest rates rose for the entire Trump Rally, and they crashed during the Great Recession of 2007-2009. For the life of me, I just shake my head when the talking heads cheer lower rates and spread doom and gloom with higher rates.
Fox Business is reporting that economic conditions are much worse than you are being told. Unfortunately, this is the conclusion when you have ZERO understanding of the historical trends and economic conditions. It is true that the shortages of COVID have caused prices to rise faster than economic growth and most incomes. Therefore, they conclude that our standard of living has been rapidly declining. The number reveals that more than one-third of all U.S. young adults are being supported in part by their parents. Thanks to COVID, this disrupted society far greater than anyone is reporting. In addition to the shortages because of the lockdowns, by the end of 2020, more than half of young adults in America were living with one or both parents. That statistic actually exceeded the record high of the Great Depression.
Here is the worst part of this analysis. Many are jumping on the bandwagon claiming that the decline in real disposable income has been the largest since 1932 and therefore, this is a warning sign of a Great Depression is coming. They seem to be focused on the fact that the GDP report showed a significant decline in real disposable income, which fell over $1 trillion in 2022. Now let’s look closer!
First of all, the entire reason why unemployment rise to 25% during the latter part of the Great Depression was the Dust Bowl. Why? At that time, about 40% of the civil workforce was still agrarian. The Dust Bowl meant job loss. If you could not even plant crops, there was no need for people to pick crops.
Service during the Great Depression accounted for 17% of the workforce compared to 44%+ today. Government, federal, state, and local, was 22% of the civil workforce during the Great Depression compared to 33% by 1980. Things have continued to evolve and by 2019, services represent 79.41%. Agriculture is now a tiny fraction of what it once was – 1.41%.
In the USA, at the state level, their share of the civil workforce varies greatly. Florida is at about 11.3% compared to New Mexico which is 22.5% – a government employee’s paradise. The lowest is Michigan at 10.1%.
During the Great Depression, the entire reason for the collapse in disposable income was the collapse in agriculture which created a collapse in income due to massive unemployment. That is totally different from the crisis we have today.
Here we have rising prices due to shortages and then central banks raising interest rates in a fool’s quest to stop inflation when it is not based on speculation. Moreover, the biggest borrower is the government, and rising interest rates will only increase their exposure to keep rolling over the debt. Therefore, governments have been borrowing year after year. What happens when the public no longer buys their debt? Real disposable income has been collapsing for completely different reasons since 1932. Here we have the costs of everything rising and then these people want war with Russia and China. Every war since the start of recorded history has resulted in inflation. Add to this, the total insanity of trying to end climate change by outlawing fossil fuels at a time when the climate is prone to getting colder.
We are already witnessing riots around the world BECAUSE of inflation. During the Great Depression, people were suffering from DEFLATION. So comparing just that statistic of a decline in personal income and projecting we now face a Great Depression, does not even qualify to be classified as analysis. That is no different from someone warning that carrots must be lethal because everyone who has ever eaten a carrot has obviously died.
The people who are pushing for World War III attack anyone who tells the truth about Ukraine is suddenly a “Putin Supporter” when in fact they are the new merchants of death who have no regard for human civilization or history. I have dealt with every country surrounding Ukraine including Ukraine. ALL OF THERE NEIGHBORS say the same thing – beware of Ukrainians.
Austria and Hungary have come out and refused to send weapons to Ukraine. Hopefully, when this turns really ugly, their countries may be spared. Ukraine is filled with Nazis and their hatred for Russians knows no limit. NATO troops are already there without a formal declaration of war. If they die in battle, Ukrainians are choppy off their heads and hands so they cannot be identified which would expose NATO’s involvement.
I have warned that the West is the aggressor and have once again lied to the people. Zelensky stood up on February 23rd, and stated to the world that Ukraine would arm itself with nuclear weapons. Putin made a speech to the Russian people that night and launched the invasion the next day. VP Harris at the Munich Security Counsel bluntly told Ukraine to join NATO. Then Merkel admitted that the Minsk Agreement which was to allow the Donbas to vote on their own independence was a sham only to buy time for Ukraine to build an army to start World War III.
I reported that Ukraine had lost nearly 50% of its army. That was classified information from the Ukrainian side. I got emails saying, of course, that was Russian propaganda. The head of the EU stated that same figure at first and then had to take it out because Zelensky did not want his people to know the death toll.
Zelensky stood before Congress and bragged that his propaganda machine defeated Russia and had won the minds of the West, which only proved this is really a war to destroy Russia. Zelensky was an actor with no experience in anything else. He was put in place for this role. He has been doing everything to create World War III – that’s his real job.
Any world leader who gives 10 cents to Ukraine should be thrown out of office forthwith!
Pfizer has agreed to pay $2.3 billion, which is the largest healthcare fraud settlement in the history of the Department of Justice. Like the bankers, they are just giving the Justice Department their share of the cut and nobody goes to jail. Pfizer has the GET-OUT-OF-JAIL card and the Justice Department has been bribed to resolve criminal and civil liability arising from the illegal promotion of certain pharmaceutical products.
No doubt, they are immune from civil liability even if they killed a member of your family because they have bribed Congress for that privilege to kill people with total immunity. The Italian Mafia should have just bought a drug company to take care of business and they would have been immune!
As to those who have asked if we have ever advised Pfizer. The answer is NO. I am not Pontius Pilate pretending to wash the blood from my hands after dealing with a company I have ZERO respect for!
Posted originally on the CTH on January 31, 2023 | Sundance
According to a Reuters article, Joe Biden is going to send a massive $2 billion plus aid package to Ukraine with the $1.75 billion in direct purchase weapons from defense contractors. Included in the $1.75 billion package will be longer range rockets, with another $400 million in weapons coming directly from U.S. strategic military stockpiles.
This announcement from the White House is coming on the heels of several reports that Ukraine was having difficulty matching the Russian forward advanced rockets and munitions that were capable of hitting Ukraine targets from outside of Ukraine’s ability to return fire.
This weapons delivery is also coming on top of the U.S. paying for the Ukraine government to meet its financial obligations, payrolls and government worker pensions.
(Reuters) – WASHINGTON, Jan 31 – The United States is readying more than $2 billion worth of military aid for Ukraine that is expected to include longer-range rockets for the first time as well as other munitions and weapons, two U.S. officials briefed on the matter told Reuters on Tuesday.
The weapons aid is expected to be announced as soon as this week, the officials said. It is also expected to include support equipment for Patriot air defense systems, precision guided munitions and Javelin anti-tank weapons, they added.
One of the officials said a portion of the package, expected to be $1.725 billion, would come from a fund known as the Ukraine Security Assistance Initiative (USAI), which allows President Joe Biden’s administration to get weapons from industry rather than from existing U.S. weapons stocks.
The USAI funds would go toward the purchase of a new weapon, the Ground Launched Small Diameter Bomb (GLSDB) made by Boeing Co (BA.N), which have a range of 94 miles (150 km). The United States has rebuffed Ukraine’s requests for the 185-mile (297-km) range ATACMS missile.
[…] GLSDB is made jointly by SAAB AB (SAABb.ST) and Boeing. It combines the GBU-39 Small Diameter Bomb (SDB) with the M26 rocket motor, both of which are common in U.S. inventories.
[…] GLSDB is GPS-guided, can defeat some electronic jamming, is usable in all weather conditions, and can be used against armored vehicles, according to SAAB’s website. The GBU-39 – which would function as the GLSDB’s warhead – has small, folding wings that allow it to glide more than 100km if dropped from an aircraft and hit targets as small as 3 feet (1 meter) in diameter.
The USAI funds would also be used to pay for more components of HAWK air defenses, counter drone systems, counter artillery and air surveillance radars, communications equipment, PUMA drones, and spare parts for major systems like Patriot and Bradley, one of the officials said. (read more)
Posted originally on the CTH on January 31, 2023 | Sundance
In his own words, Mark Houck appears with Steve Bannon to describe the events that led to him being arrested by the FBI and fighting a legal battle with the DOJ. An incredible story of valiance against evil enterprise. {Direct Rumble Link} WATCH:
Posted originally on the CTH on January 31, 2023 | Sundance
On the literal eve of a House vote to end the COVID emergency through legislation, the White House announced they would end the COVID-19 Emergency Declaration on May 11th. [pdf here]
The managers of Biden knew they would face a bipartisan vote to end the power of the dictatorial fiat known as the COVID emergency, so they quickly rushed to give Democrats in congress cover for voting against the legislative end.
In the end this is all a matter of pure politics and posturing for narrative control, because the Democrat controlled Senate is not going to take up the House bills.
WASHINGTON DC – […] The two bills – the Pandemic is Over Act and the Freedom for Health Care Workers Act – were planned by Republicans last week; and late Monday, the White House announced that it will terminate the national COVID emergency on May 11. The White House also announced its opposition to the two bills up for a vote today.
But Republicans pressed ahead anyway and easily passed both measures despite the GOP’s narrow majority in the House.
The Pandemic is Over Act, which would end the public health emergency, passed 220-210 in a vote that saw every Republican vote for it and every Democrat vote against it. But the Freedom for Health Care Workers Act, which would end the vaccination requirement for federal health care workers, passed 227-203 with help from seven Democrats.
Those Democrat votes came even though Democrat leaders on the House floor argued against both bills. Rep. Frank Pallone, D-N.J., said he opposes the Pandemic is Over Act because it would “abruptly and irresponsibly end the COVID-19 public health emergency virtually overnight,” and Democrats on the floor similarly argued against the bill to end the vaccine requirement. (read more)
Predictably the White House is claiming that if the COVID-19 emergency is over, then Title-42 immigration restrictions -which are based on the emergency- should end. This means even more illegal aliens crossing the U.S. southern border, an outcome the Biden team embrace.
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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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