As I’m watching President Trump doing the familiar targeting of the GOPe roadmap, in this instance hitting the Club for Growth (CfG), my spidey senses are telling me their modified 2024 path will involve increased emphasis on the Republican Governors Association (RGA).
In the 2020 midterms, the RGA headed by Arizona Governor Doug Ducey was positioning: specifically positioning Ron DeSantis. If the modified establishment roadmap rolls out as it looks right now, I suspect the RGA will play a key role in it.
President Trump hit back against the always insufferable Club for Growth yesterday. The CfG together with the Business Roundtable and U.S. Chamber of Commerce are the political nexus for all things multinational, Wall Street and globalist. Republican candidates endorsed by either of these assembled corporate advocacy groups can always be counted on to sell-out the American worker. This is the insider club activity within the larger Republican network, all aligned with Mitch McConnell and the DeceptiCon crew.
Whenever you see President Trump hit the power dynamic, he generally hits the shadow network, the true motive for the attack, that align with it. In this case CfG has a long history of paid support for Florida Governor Ron DeSantis.
It is true that Club for Growth represent the “globalist,” which is to say, ‘America Last’, perspective. DeSantis long political alignment with CfG to include his support for Fast Track Trade Promotion Authority (TPA), the tool for the Transpacific Partnership trade deal (TPP), is a part of his legislative record that Ron DeSantis cannot avoid.
However, beyond the corporate alignment, Wall Street banks and hedge fund billionaires, the people managing RdS are trying to avoid confrontation with President Trump on the key issues. Corporatism and Ukraine are the two biggest Achilles heels of the Florida governor.
The RdS managers have so far kept their principal from the foray. Preferring to let their recruited surrogates and conservative ‘influencers’ do the wagon-circling on behalf of DeSantis. This looks to have been a key part of the strategy within the RdS centric roadmap and explains why Christina Pushaw began those recruitment efforts in December 2021, culminating in the first meeting on January 6, 2022.
The second prong of the establishment approach to 2024 (DeSantis) that looks slightly different from 2016 (Jeb!) is the focus on South Carolina as a fulcrum primary race. As a result, we are seeing South Carolina Nikki Haley and South Carolina Tim Scott now positioning to enter the contest. Scott will be heading to Iowa later in February [LINK].
President Trump is doing something familiar by hitting DeSantis as the Club for Growth becomes confrontational. It’s one of the key differences between President Trump as a politician and all others. Trump remains focused on the non-pretending true beneficiary of the overall roadmap. Trump did the same thing with Jeb! in 2016.
In addition to Tim Scott and Nikki Haley, it is likely we will see Mike Pompeo, Chris Sununu, Mike Pence and Larry Hogan enter the 2024 contest for the GOP nomination. However, each of them will simply be forming a common line of attack against Godzilla Trump, permitting Ron DeSantis extra time before he needs to stop pretending and actually announce his intent.
If the roadmap holds up, DeSantis will be the last one to enter.
This is where the RGA looks to have been recruited for a larger role in 2024 than was deployed in 2016. Keep an eye on Republican governors and how they position their advocacy and endorsements.
While the online social media Pushaw group will be trying to attack MAGA voices and create the illusion of overwhelming support for the principal, DeSantis, the mainstream RGA voices will talk high-brow about the need for change and a brand of strategic politics they will claim only Ron DeSantis can provide. This forms the multiple fronts against the MAGA coalition that we will face later this year.
Trump’s strength in this contest is that he doesn’t need to pretend. The DeSantis weakness in this contest is that he must pretend he is not running as long as possible. Thus, in that very specific dynamic you will find the source motive for Pushaw’s early efforts with the “influencers”. However, on national economic matters as well as Ukraine corruption issues, you will note a comprehensive silence from RdS directly.
President Trump is exceptional at using the literal truth as a weapon against all of the shadowy aligned elements. Fox News, Paul Ryan, Karl Rove, CfG, the Murdoch clan, as well as the larger multinational billionaires and globalists are following a very transparent program, if you know what to look for.
Enhancing this strategy is where the RGA will come into play. All of them took a strategic loss when Harmeet Dhillon did not win the RNC chair position, which was particularly noteworthy due to the RdS endorsement. Once DeSantis enters the race it will be six or seven against one, with each of the individual partipants aligning to drop out in sequence and endorse the principal.
Keep watching… and keep all of the above in mind as you review this discussion about the GOPe dynamic.
Posted originally on the CTH on January 29, 2023 | Sundance
With talking points in hand CBS’s Margaret Brennan drops all pretenses and goes straight into her role as defender of the Biden regime in the White House.
House Speaker Kevin McCarthy appears on Face the Nation for a dueling narrative contest with Ms. Brennan. WATCH (transcript below):
REPRESENTATIVE KEVIN MCCARTHY (R-California): Good morning. Thanks for having me back in studio.
MARGARET BRENNAN: It must be sobering to hear that reminder.
REPRESENTATIVE KEVIN MCCARTHY: Well, it took me a little while to get there, but it feels good.
(LAUGHTER)
MARGARET BRENNAN: Well, you are here now at this key moment in time. And I want to get to some of the top agenda items.
You have accepted an invitation to meet with President Biden. When will that happen, and what offer will you put on the table?
REPRESENTATIVE KEVIN MCCARTHY: Well, we’re going to meet this Wednesday.
I know the president said he didn’t want to have any discussions, but I think it’s very important that our whole government is designed to find compromise. I want to find a reasonable and a responsible way that we can lift the debt ceiling, but take control of this runaway spending.
I mean, if you look at the last four years, the Democrats have increased spending by 30 percent, $400 billion. We’re at a 120 percent of GDP. We haven’t been in this place to debt since World War 2. So we can’t continue down this path.
And I don’t think there’s anyone in America who doesn’t agree that there’s some wasteful Washington spending that we can eliminate.
MARGARET BRENNAN: Mm-hmm.
REPRESENTATIVE KEVIN MCCARTHY: So, I want to sit down together, work out an agreement that we can move forward to put us on a path to balance, at the same time, not put any — any of our debt in jeopardy at the same time.
MARGARET BRENNAN: But avoid a default, in other words?
REPRESENTATIVE KEVIN MCCARTHY: Yes.
MARGARET BRENNAN: But do you have any indication that the president is willing to discuss both lifting the debt ceiling and the issue of future spending?
REPRESENTATIVE KEVIN MCCARTHY: Well, if he’s changed his mind from his whole time in the Senate and vice president before — I mean, he literally led the talks in 2011 and he praised having those talks. This is what he’s always done in the past.
And if he listens to the American public, more than 74 percent believe we need to sit down and find ways to eliminate this wasteful spending in Washington. So, I don’t believe he would change his behavior from before, and I know there’s a willingness on our side to find a way that we can find a reasonable and responsible way to get this done.
MARGARET BRENNAN: But, right, I mean, you know why I’m asking that…
REPRESENTATIVE KEVIN MCCARTHY: Yes.
MARGARET BRENNAN: … in terms of not linking one as leverage for the other.
REPRESENTATIVE KEVIN MCCARTHY: Yes.
Well, in my first conversation — and, to be fair, the president, when he called me to congratulate winning speaker, this is one of the first things I brought up to him. And he said we’d sit down together.
Now, I know his staff tries to say something different, but I think the president is going to be willing to make an agreement together.
MARGARET BRENNAN: Well, we’ll watch for that on Wednesday.
REPRESENTATIVE KEVIN MCCARTHY: I’m hopeful, yes.
MARGARET BRENNAN: I want to dig into what you are willing to put on the table because Republicans campaigned on fiscal responsibility.
You promised you won’t spend more next year than you did last year. Are you willing to consider any reductions to Social Security and Medicare?
REPRESENTATIVE KEVIN MCCARTHY: No. Let’s take those off the table. We want to…
MARGARET BRENNAN: Completely?
REPRESENTATIVE KEVIN MCCARTHY: Yes.
I mean, if you read our commitment to America, all we talk about is strengthening Medicare and Social Security. So — and I know the president says he doesn’t want to look at it, but we’ve got to make sure we strengthen those. I think…
MARGARET BRENNAN: What do you mean by strengthen them? You mean lift the retirement age, for example?
REPRESENTATIVE KEVIN MCCARTHY: No, no, no.
What I’m talking about, Social Security and Medicare, you keep that to the side. What I want to look at is, they’ve increased spending by 30 percent, $400 billion, in four years. When you look at what they have done, adding $10 trillion of debt for the next 10 years in the short time period, if you just look a month ago, they went through and they never even passed a bill through appropriations in the Senate.
While Mr. Schumer has been leader, he’s never passed a budget. He’s never passed the appropriation bill. He simply waits to the — to the end of the year and allowed two senators who are no longer here to write a $1.7 trillion omnibus bill. I think we…
MARGARET BRENNAN: You want to work with Democrats to come to agreement on a budget?
REPRESENTATIVE KEVIN MCCARTHY: Yes.
MARGARET BRENNAN: Is that what you’re saying?
REPRESENTATIVE KEVIN MCCARTHY: Yes, I — I first think our very first responsibility, we both should have to pass a budget. We both should have to pass the appropriations bill, so the country can see the direction we’re going.
But you cannot continue the spending that has brought this inflation, that has brought our economic problems. We’ve got to get our spending under control.
MARGARET BRENNAN: OK, just fact-check, though, 25 percent of the debt was incurred during the last four years of the Trump presidency. I mean, this is cumulative debt over many, many years.
REPRESENTATIVE KEVIN MCCARTHY: Yes, well, over the short — this time period.
MARGARET BRENNAN: Yes.
REPRESENTATIVE KEVIN MCCARTHY: But you’ve also found that you had a pandemic.
MARGARET BRENNAN: Right.
REPRESENTATIVE KEVIN MCCARTHY: And, as that pandemic comes down, those programs leave. I have watched the president say he cut it.
No, it is spending $500 billion more than what was projected. They have spent more. And we’ve got to stop the waste.
MARGARET BRENNAN: Is defense spending on the table?
REPRESENTATIVE KEVIN MCCARTHY: Well, look, I — I want to make sure we’re protected in our defense spending, but I want to make sure it’s effective and efficient.
I want to look at every single dollar we’re spending, no matter where it’s being spent. I want to eliminate waste wherever it is.
MARGARET BRENNAN: But when you became speaker, you did come to that agreement I have referenced of capping ’24 spending at ’22 levels.
REPRESENTATIVE KEVIN MCCARTHY: Well, look, listen…
MARGARET BRENNAN: So that would call for reductions.
REPRESENTATIVE KEVIN MCCARTHY: Well, I mean, look, you’re going to tell me, inside defense, there’s no waste? Others? I mean…
(CROSSTALK)
MARGARET BRENNAN: So defense spending is up for negotiation?
REPRESENTATIVE KEVIN MCCARTHY: They spend a lot of — I think everything, when you look at discretionary, is sitting there.
It’s like every single household. It’s like every single state. We shouldn’t just print more money. We should balance our budget. So I want to look at every single department. Where can we become more efficient, more effective, and more accountable? That should be…
MARGARET BRENNAN: So, more efficiencies in Social Security and Medicare as well?
REPRESENTATIVE KEVIN MCCARTHY: The one thing I want to say, we take Social Security…
MARGARET BRENNAN: Completely?
REPRESENTATIVE KEVIN MCCARTHY: … and Medicare off the table.
MARGARET BRENNAN: Would you support a short-term debt limit extension until September, buy more time for talks?
REPRESENTATIVE KEVIN MCCARTHY: Look, I don’t want to sit and negotiate here.
I would rather sit down with the president, and let’s have those discussions. The one thing I do know is, we cannot continue the waste that is happening. We cannot continue just to spend more money and leverage the debt of the future of America.
MARGARET BRENNAN: Right.
REPRESENTATIVE KEVIN MCCARTHY: We’ve got to get to a balanced budget.
MARGARET BRENNAN: Well, and I think many people would agree with you on the issue of fiscal responsibility, but there’s that deadline on the calendar in terms of facing potential default.
Are you saying…
REPRESENTATIVE KEVIN MCCARTHY: Well, wait. Wait a minute…
MARGARET BRENNAN: … you will guarantee the United States will not do that?
REPRESENTATIVE KEVIN MCCARTHY: Listen, we’re not going to default.
But let me be very honest with you right now. So we hit the statutory date. But let’s take a pause. We have hundreds of billions of dollars. This won’t come to fruition until sometime in June. So the responsible thing to do is sit down like two adults and start having that discussion.
MARGARET BRENNAN: Mm-hmm.
REPRESENTATIVE KEVIN MCCARTHY: Unfortunately, the White House was saying before, like, they wouldn’t even talk.
MARGARET BRENNAN: Right.
REPRESENTATIVE KEVIN MCCARTHY: I’m — I’m thankful that we’re meeting on Wednesday, but that’s exactly what we should be doing.
And we should be coming to a responsible solution. Every family does this. What is — what has happened with the debt limit is, you reached your credit card limit. Should we just continue to raise the limit? Or should we look at what we’re spending?
MARGARET BRENNAN: Well, it’s paying past commitments.
REPRESENTATIVE KEVIN MCCARTHY: If Chuck Schumer — yes, but if — no, no.
Chuck Schumer never passed a budget since he’s been leading. He’s never passed an appropriation bill. Those are the most basic things that Congress should do. And what — if you’re going to show to the American public where you want to spend your money, and if you’re going to ask the hardworking taxpayer for more of their money, you first should lay out how you’re going to spend it, and you should eliminate any waste, so you don’t have to raise more taxes.
MARGARET BRENNAN: But just to put a fine point on it, because it matters a lot to the markets in particular, you will avoid a default? You will not let that happen on your watch?
REPRESENTATIVE KEVIN MCCARTHY: Look, there will not be a default.
But what is really irresponsible is what the Democrats are doing right now, saying you should just raise the limit.
MARGARET BRENNAN: But would you…
REPRESENTATIVE KEVIN MCCARTHY: I think…
MARGARET BRENNAN: Would you get in the way — if 15 Republicans came to you and said they would be willing to raise the debt limit…
REPRESENTATIVE KEVIN MCCARTHY: The only person — but let me be very clear.
MARGARET BRENNAN: … would you allow them to do so with Democrats?
REPRESENTATIVE KEVIN MCCARTHY: The person — the only person who is getting in the way right now is the president and Schumer. They won’t even pass a budget. They won’t even negotiate. We have now until June.
I want to make sure we have something responsible, something that we can move forward on and something that we can balance our debt with. So I’m looking for sitting down. That’s exactly what I have been asking for. The only one who’s playing with the markets right now is the president to have the idea that he wouldn’t talk.
Does the president really believe and, really, all your viewers, do you believe there’s no waste in government? Do you believe there was no waste in that $1.7 trillion? That’s what we were spending just four weeks ago. So, I think the rational position here is, sit down, eliminate the waste and put us on a path to balance.
MARGARET BRENNAN: We’ll watch for that meeting on Wednesday.
I want to ask you about your vision of leadership. You made a number of deals within your party to win the speakership. Senator Mitch McConnell, your Republican colleague, said: “Hopefully McCarthy was not so weakened by all this that he can’t be an effective speaker.”
How can you effectively govern with a very narrow majority and when your conference is so divided?
REPRESENTATIVE KEVIN MCCARTHY: Well, that may be somebody else’s opinion. So let’s just see what my father always said. It’s not how you start. It’s how you finish.
So, let’s — you see what happened in the first week. So, in the very first week, we have passed what? We repealed the 87,000 IRS agents. We bipartisanly created a new Select Committee on China, where 146 Democrats joined with us.
We bipartisanly passed to stop the Strategic Petroleum Reserve being sold to China, where 113 Democrats joined with us. We have just now, for the first time on the House — it hasn’t happened in seven years, the entire time the Democrats were in the majority, where you had an open rule.
And let me explain what that is. An open rule allows every single member of the House to offer an amendment on a bill. So what I’m trying to do here is let every voice in America have their ability inside the House. We opened the House back up so the public could actually join.
MARGARET BRENNAN: So you’re arguing you haven’t been weakened? But…
REPRESENTATIVE KEVIN MCCARTHY: I — no, it’s only been strengthened.
Maybe people didn’t like what they saw that we didn’t win on the very first vote, but that was democracy. And what you found at the end of the day, we’re actually stronger.
MARGARET BRENNAN: Well, I would…
REPRESENTATIVE KEVIN MCCARTHY: You know what else?
MARGARET BRENNAN: Yes.
REPRESENTATIVE KEVIN MCCARTHY: We changed it where members of Congress now have to show up for work. I know, in the Senate, they don’t come very often.
But if you look what we’ve been able to do, we’re transforming Congress. We’re looking for solutions.
MARGARET BRENNAN: But you also allowed one — just one member now can force a vote to oust you as speaker.
REPRESENTATIVE KEVIN MCCARTHY: OK.
MARGARET BRENNAN: How can you expect to serve in the next two years in this role?
REPRESENTATIVE KEVIN MCCARTHY: Exactly how every other speaker has served with that.
MARGARET BRENNAN: Without those rules like that right now.
REPRESENTATIVE KEVIN MCCARTHY: No.
MARGARET BRENNAN: That’s a risk.
REPRESENTATIVE KEVIN MCCARTHY: OK.
MARGARET BRENNAN: I mean, do you really think you can control the Freedom Caucus and some of those more conservative members who gave you such a hard time?
REPRESENTATIVE KEVIN MCCARTHY: Everybody has a voice.
But let me — let me explain that. That one vote to vacate, that’s not new. That’s been around for 100 years. The only person who took it away when they got a small majority was Nancy Pelosi. So, Nancy felt she did not have the power to stay in office if that was there. I’m very comfortable in where we are.
MARGARET BRENNAN: OK.
REPRESENTATIVE KEVIN MCCARTHY: So I don’t have any fear in that.
MARGARET BRENNAN: You don’t regret any of the concessions you made?
REPRESENTATIVE KEVIN MCCARTHY: The only concession I made was taking it from five to one, where it’s been around for 100 years.
MARGARET BRENNAN: I want to ask you about some of the makeup of your caucus.
REPRESENTATIVE KEVIN MCCARTHY: Yes.
MARGARET BRENNAN: According to CBS records, 70 percent of the House GOP members denied the results of the 2020 election.
You’ve put many of them on very key committees, Intelligence, Homeland Security, Oversight. Why are you elevating people who are denying reality like that?
REPRESENTATIVE KEVIN MCCARTHY: Well, if you look to the Democrats, their ranking member, Raskin, had the same thing, denied Trump when Bush was in there. Bennie Thompson, who was the…
(CROSSTALK)
MARGARET BRENNAN: Did you see those numbers we just put up there?
REPRESENTATIVE KEVIN MCCARTHY: Did you see the — yes.
MARGARET BRENNAN: Seventy percent.
REPRESENTATIVE KEVIN MCCARTHY: Did you also be fair and equal and where you looked at Raskin did the same thing. Bennie Thompson, who’s a ranking member and was the chair?
These individuals were chair in the Democratic Party.
MARGARET BRENNAN: I’m asking you, as leader of Kevin McCarthy’s House…
REPRESENTATIVE KEVIN MCCARTHY: But I’m also — I’m also…
MARGARET BRENNAN: … why you made these choices. These were your choices.
REPRESENTATIVE KEVIN MCCARTHY: Yes, They’re my choices, but they’re the conference choices.
But I’m also asking you, when you look to see just Republicans, Democrats have done the same thing. So maybe it’s not denying. Maybe it’s the only opportunity they have to have a question about what went on during the election.
So, if you want to hold Republicans to that equation, why don’t you also hold Democrats? Why don’t you hold Jamie Raskin? Why don’t you hold Bennie Thompson, when Democrats had appointed them to be chair? I never once heard you ask Nancy Pelosi or any Democrat that question when they were in power in the majority, when they questioned…
MARGARET BRENNAN: You’re talking about things going back to 2000, which was a time…
REPRESENTATIVE KEVIN MCCARTHY: Well, you’re talking about…
MARGARET BRENNAN: … when I didn’t have this show back then…
REPRESENTATIVE KEVIN MCCARTHY: Yes.
MARGARET BRENNAN: … which is why I’m asking you now about your leadership.
REPRESENTATIVE KEVIN MCCARTHY: No, on, but they were — they were in power last Congress. So, why — why…
MARGARET BRENNAN: But you’re talking about questions from 2000 election.
REPRESENTATIVE KEVIN MCCARTHY: But you’re asking me about that happened to another Congress.
MARGARET BRENNAN: About these choices you just made, you just made.
REPRESENTATIVE KEVIN MCCARTHY: You’re asking about questions for another Congress.
So, the only thing I’m simply…
MARGARET BRENNAN: This is your Congress.
REPRESENTATIVE KEVIN MCCARTHY: These — these are members who just got elected by their constituents, and we put them into committees, and I’m proud to do it.
MARGARET BRENNAN: Let me ask you about some specifics then. Marjorie Taylor Greene, you put her on a new subcommittee to investigate the origins of COVID.
REPRESENTATIVE KEVIN MCCARTHY: Yes.
MARGARET BRENNAN: She compared mask requirements to the type of abuse Jews were subjected to during the Holocaust. She called for Fauci to be arrested and imprisoned, and she spread conspiracy theories.
How is anyone supposed to take that work seriously and find that work credible?
REPRESENTATIVE KEVIN MCCARTHY: Very well. You look at all of it, so you have all the questions out there. I think what the American public…
MARGARET BRENNAN: You think these are legitimate questions?
REPRESENTATIVE KEVIN MCCARTHY: I think what the American public wants to see is an open dialogue in the process. This is a select committee where people can have all the questions they want, and you’ll see the outcome.
MARGARET BRENNAN: You know that there is a lot of doubt about institutions and faith in institutions in this country.
REPRESENTATIVE KEVIN MCCARTHY: Oh, yes, when you saw what happened in Congress where they had proxy voting, where bills didn’t go through committees, and you…
(CROSSTALK)
MARGARET BRENNAN: I don’t think most people know what proxy voting is.
REPRESENTATIVE KEVIN MCCARTHY: Well, let — well let — Well, let’s explain what proxy…
MARGARET BRENNAN: But — but approval…
(CROSSTALK)
REPRESENTATIVE KEVIN MCCARTHY: But I think it would be fair to your viewers…
MARGARET BRENNAN: Approval level, according to Gallup, of Congress is at 22 percent. Approval level of journalists is also not very high, I will give you that.
But doesn’t it further wear down credibility when you put someone who is under state, local, federal, and international investigation as a representative of your party on committees?
REPRESENTATIVE KEVIN MCCARTHY: Are you talking about Swalwell?
MARGARET BRENNAN: I’m talking about George Santos…
REPRESENTATIVE KEVIN MCCARTHY: No, I…
MARGARET BRENNAN: … representative from New York.
REPRESENTATIVE KEVIN MCCARTHY: Well, we should have that discussion. So let’s have that discussion.
You want to bring up Santos, and let’s talk about the institution itself, because I agree wholeheartedly that Congress is broken. And I think your — I think your listeners or viewers should understand what proxy voting was, because it never took place in Congress before.
MARGARET BRENNAN: But I’m asking you about George Santos.
REPRESENTATIVE KEVIN MCCARTHY: I know you asked me a question. Let me ask you.
MARGARET BRENNAN: Because you could put it to a vote to try to oust him.
REPRESENTATIVE KEVIN MCCARTHY: You asked me a question. I would appreciate if you let me answer.
So let’s go through this, because it’s not one simple answer. Congress is broken, based upon what has transpired in the last Congress. The American public wasn’t able to come in to see us. People voted by proxy, meaning you didn’t have to show up for work, Bills didn’t go — have to go through committee.
So what I’m trying to do is open the people’s house back for the people so their voice is there, so people are held accountable.
So, now, as I just had in the last week, for the first time in seven years…
MARGARET BRENNAN: Yes.
REPRESENTATIVE KEVIN MCCARTHY: … every member got to vote.
MARGARET BRENNAN: If you got a third of your caucus to vote to oust him, you could do so.
(CROSSTALK)
MARGARET BRENNAN: Do you — you don’t think you could get your Republicans to do that?
REPRESENTATIVE KEVIN MCCARTHY: I wasn’t finished answering the question.
So, if every single new person brought into Congress was elected by their constituents, what their constituents have done is lend their voice to the American public. So those members can all serve on committee.
Now, what I’m trying to do is change some of these committees as well, like the Intel Committee is different than any other committee.
MARGARET BRENNAN: So, you’re just not going to answer the question I asked?
REPRESENTATIVE KEVIN MCCARTHY: Well, no, I — no, you don’t get a question whether I answer it. You asked a question. I’m trying to get you through that.
MARGARET BRENNAN: I don’t think you’ve said the name George Santos, like, once.
(LAUGHTER)
MARGARET BRENNAN: I have asked you a few times.
REPRESENTATIVE KEVIN MCCARTHY: But you know what? I just — but — but…
MARGARET BRENNAN: You’re talking about proxy voting and other things.
REPRESENTATIVE KEVIN MCCARTHY: No, no, no, but — no, you started the question with Congress was broken, and I agreed with you.
MARGARET BRENNAN: No. Congress…
REPRESENTATIVE KEVIN MCCARTHY: But I was answering the question of how Congress is broken and how we’re changing it.
So, if I can finish the question that you asked me, how Congress is broken, I equated every single member…
MARGARET BRENNAN: Yes.
REPRESENTATIVE KEVIN MCCARTHY: … that just got elected by their — by their constituents. They have a right to serve.
MARGARET BRENNAN: OK.
REPRESENTATIVE KEVIN MCCARTHY: So that means that Santos can serve on a committee…
MARGARET BRENNAN: OK.
REPRESENTATIVE KEVIN MCCARTHY: … the same way Swalwell, who had a relationship with a Chinese spy.
MARGARET BRENNAN: Speaker…
REPRESENTATIVE KEVIN MCCARTHY: But they will not serve on Intel, because I think…
(CROSSTALK)
MARGARET BRENNAN: They’re wrapping me in the control room, because we have a break.
REPRESENTATIVE KEVIN MCCARTHY: Well that’s unfortunate. I wish I could answer the question.
MARGARET BRENNAN: I have to leave it there. I would love to have you back.
REPRESENTATIVE KEVIN MCCARTHY: I would love to be able to come back and have time to answer the questions.
MARGARET BRENNAN: OK. We’ve spent a lot of time here, and I have more questions for you.
There are some who are claiming that the revision of the CPI is to help the Federal Reserve stop fighting inflation. This is typical for Americans who only watch the Fed and nothing else. The formula for the CPI has been routinely altered. Real Estate used to be included but when that was rising too much, they replaced that with rents. When rents started rising, they replaced them with controlled rents.
This is NOT about helping the Fed to lower rates or stop raising rates as the majority seem to be touting. Powell is not that stupid and this will have ZERO impact on Fed decisions going forward. This is all about government spending which is a far greater problem than worrying about the pressure on the Fed. Virtually EVERY government program is automatically INDEXED to CPI. Thus, agencies’ budgets are automatically increased each year based on the CPI. Your taxes are indexed to the CPI. By reducing the CPI, they collect more taxes! There is NOBODY in Congress or at the Bureau of Labor Statistics that gives the Fed a second thought.
Even if we look at inflation using the pre-1980 formulas, the CPI is approaching 10%! When we calculate inflation by eliminating everything that is really irrelevant and focusing on food, energy, transportation, and taxation, which they do not consider at all, the reality of our number came in at 32% for 2022. That is a far cry from the official number. This is simply calculated by Socrates from an unbiased perspective.
What a new wonderful world the Biden Administration has created. Thank you, COVID & the Russian Sanctions. The largest increase we found was obvious fuel between gasoline and diesel used in trucking and homes averaging 65%+ Turning to basic food, eggs were up nearly 50%, flour rose by 25%, cooking oil 23%, butter was up 35%, Chicken by 14%, and Rice by 18%. If we throw in toothpicks, paperclips, etc, then the more we can include the lower the inflation rate. We do not include rent or real estate. Our number is far more accurate to the daily living expenses than the near 10% level of the government. They also do not include sales taxes. The national average rise in rental rates was 7.8%, in Florida it was 8.5%, and in NYC 1.5% when controlled.
When I would buy a desktop IBM XT during the 1980s, it was always about $7,000 for a top-of-the-line. Today, that cost has come down significantly. Obviously, we do not buy computers every week. Should that really be part of a formula? The BLS has made so many revisions to the CPI over the decades it is really a political tool these days.
Back in the ’90s, our staff was dissecting every statistic. We discovered that they were overstating economic growth because they counted government employees twice. The total all personal income, and then government spending. I called the head of the BLS and asked surely this had to be backed out somewhere for hiring government employees to increase GDP rather than the private sector. They reviewed it and finally just said – no comment.
The idea that this latest revision of using one year as a weight instead of two will allow the Fed to stop tightening is really the rantings of people who only look at the Fed for everything as their guidance. There is a lot more incentive behind this revision and the Fed was not a consideration.
QUESTION: Is it true that J.P. Morgan was also an ancient coin collector?
DV
ANSWER: Absolutely. He collected both Greek and Roman coins. This was a Syracuse Dekadrachm of Dionysios I (405-367BC). The difference between the Greeks and the Romans is quite plain. The Greeks were into art. As you can see, their coinage was often of spectacular artistic value. The coin firm Stacks of New York had auctioned off part of the collection in September 1983 which you can download that catalogue.
The Romans were more practical. They used their coinage to announce events, great accomplishments, or some military victory. Here is a coin announcing the opening of the Colosseum.
Here is a silver antoninianus issued by Philip I (The Arab) in 248AD announcing great games for the 1,000th year anniversary of the founding of Rome.
Because the Roman Emperors pretended to be elected, each year noting their titles. Because one coin was discovered in Pompeii, it rewrote history. It was then possible to actually date the event from a coin.
Likewise, the discovery of this coin in Egypt with the inscription of an emperor Saturninus, clearly proved that the academics were all wrong and that the book Historia Augusta was in fact correct – not some story written for children.
We know that Julius Caesar was in fact assassinated on the Ides of March (15th) in 44BC because Brutus bragged about killing Caesar on his coinage. The statement “EID MAR” meant that he killed him on the Ides of March.
The entire theory of the Petrodollar dares back to the collapse of Bretton Woods and the subsequent oil embargo protesting US support for Israel and the price shock of raising prices. Those were the days when everyone was obsessed with gold and the whole idea of a floating currency that was popular to say will crash and burn for money had to be backed but some commodity. Those were indeed the days when that theory was very popular and it dominated the thinking process of the 1970s.
Here is an advertisement from my past days as a market maker in gold during 1970s to about 1983. I too believed in all those theories until the crash came in 1975. I too had bought into all that nonsense. Gold was going to be legalized in the United States in 1975 for the first time since 1934. Being a very large dealer domestically and internationally, all my European clients were talking up the scenario that gold was going to $500 if not $1000 once Americans could buy.
Because Teddy Roosevelt was an ancient coin collector, when Franklin Roosevelt, who was a stamp collector, recognized that gold coins existed from ancient times thanks to Teddy, he confiscated gold on deposit at the banks but exempted collector coins. That was the reason why we have rolls of $20 gold coins trading to this day.
As a result, those who were really believers in gold would buy common date American $20 gold coins by the roll in those days. So when the Europeans were talking themselves into gold was going to explode in 1975 as soon as it was legalized in the United States, as a dealer, I never got a single call about buying gold from anyone other than those who already owned it. The gold crowd was only looking at gold and had no idea that any American who wanted gold bought it in coin form. They were cheering gold without understanding the reality of the marketplace.
I went short gold in January 1975 not using even technical analysis. The hype was so much and I knew that there was no line standing at the door to buy gold. My gut feeling was that gold was going to decline – not rally. I saw that in 1970 when the two-tier gold market they created in 1968 saw gold drop below the official price of $35 in 1970 – something that was not supposed to happen.
Even the Senate of New Jersey came to me and I wrote the law on sales tax regarding gold in 1974. Gold peaked in December 1974 at $197.50. It fell to $97.70 while inflation continued but economic growth declined and they called it STAGFLATION. I learned back then that all the scenarios and theories that gold rises with inflation and the dollar would not survive without some backing. I was confronted by the reality that exposes all these theories to be a throwback to times long since passed. This all only inspired me, even more, to investigate everything in detail. By 1979, I published what I called the WHY REPORT. I later republished this in 1981 and again in 1983.
To explain the survivability of the dollar since it rose between 1972 and 1976 against the British pound, with the collapse of Bretton Woods, the rise in gold, and the entire oil embargo, that is when they came up with this idea that the dollar was backed by oil. They had to explain why their theories were wrong just as they changed global warming to climate change to explain away global cooling.
All the theories were wrong. The dollar rose, and inflation soared, as did gold. None of this made sense under their theories. Something had to be done. It became obvious that it was impossible to make investment decisions based upon these theories that people just made up to sell gold which are still being used today. I also remembered that in January 1970, gold fell in the London market to $34.70. Gold was not supposed to sell below the Bretton Woods fixed exchange rate of dollars to gold. It was like being smacked in the face and told to wake up!
Without question, the dealers could not sell gold if it did not rise with inflation and against the dollar since it was no longer backed by anything. They had to invent something new. That is when the sophistry specialists stepped in and boy did they succeed in bullshitting everyone.
The explanation was ah ha – the dollar is really backed by oil because it is priced in dollars. That’s it. It is really the Petrodollar! Suddenly the dollar became de facto-backed by oil. They needed an explanation to explain why all the old theories were wrong. They sold this theory and it made the front cover of Newsweek. Everyone said YES! That must be the reason. OPEC priced oil in dollars! Naturally, everything was priced in dollars because, under the fixed exchange rate of Bretton Woods, everything from wheat and corn to copper and gold was all priced in dollars.
Many people are now calling for the collapse of the dollar all because Saudi Arabia has confirmed that they will be selling oil in various currencies. Hence, relying on this old fictitious their of the Petrodolarr from the ’70s, they are telling everyone the dollar will collapse and gold will soar. They never get tired of kicking the same theories down the road without EVER just once being honest and looking if they have any validity whatsoever.
The value of any currency is NOT some commodity. It is the people. You can have all the gold in the world, but if the people do not produce, it means nothing. Indeed, Russia had the largest gold reserve of any nation ahead of the Communist Revolution. They took the gold reserves and hid them so the communists would never find them. They are still missing to this very day. Likewise, Germany and Japan has no gold reserves post-WWII yet they rose to the strongest economies in their respective regions. How is that possible? It is very simple. The true backing of a currency is the total productive capacity of its people. The US became the largest economy in the world NOT because of gold, but because the US had a consumer-based economy built of freedom rather than Marxism as the problem with Europe. China, Japan, and Germany, all focused on the old-world mercantile economic model. Produce to sell to someone else. They failed to follow the strength of the United States in building a consumer economy.
China understands the difference and has shifted to develop that type of economy whereas Germany oppresses its people with high taxes on its citizens to sell manufactured goods to everyone else. That is why they wanted the Euro to expand their European economic marketplace. Germany’s high taxes have put it near the bottom insofar as the German people have less net worth than Italians. The more Marxist the country, the lower the economic standard of living.
COMMENT: I know you saved Mercedes making back their $1 billion lost all because they listened to the fake news about how the pound and the dollar would crumble in the face of the euro. I read the 2011 Barron’s article on your forecast. It was OK to publish that when they thought you would be wrong. Where is the follow-up when you proved to be the only one who was correct? The same can be said of the New York Times and especially Bloomberg. It is obvious that they will not report on the success of your forecasts because they are leading society at the direction of the Deep State.
Keep up the good work. We need someone independent in this time of darkening clouds.
JWN
REPLY: Let me explain something. All the hype about Bernie Madoff is also FAKE NEWS. On December 10th, 2008, Madoff’s sons Mark and Andrew covered themselves most likely at their father’s direction, and told authorities that their father had confessed to them that the asset management unit of his firm was a massive Ponzi scheme. They even supposedly told them it was “one big lie”. The next day, agents from the FBI arrested Madoff and charged him with one count of securities fraud. There was no possible way the FBI would arrest someone like that without an independent investigation.
The Securities and Exchange Commission had previously conducted numerous investigations into his business practices. Vere did ANY audit uncover such a massive fraud. It was then on March 12th, 2009, when Bernie Madoff simply pleaded guilty to 11 federal felonies and admitted to turning his wealth management business into a massive Ponzi scheme. He was not even indicted. He pled simply to what is known as an “information” so nothing was even presented to a grand jury. That is UNPRECEDENTED!
The banks all claimed that they had “no idea.” Before he died, Madoff did an interview where the headline was that the Banks had to have known. There is ABSOLUTELY no way that the banks were NOT involved or had no idea. That is legally impossible. As a client of a bank of that size especially, the bank must fill its files with KNOWN YOUR CLIENT rules.
In my case, we had companies set up for each note in Turks & Caicos. The bank actually sent someone down there to audit the legal structure behind every account. There is simply no way a bank can even claim it had no idea. That was a serious RED FLAG that the Madoff case was not what it appeared.
Everyone just skipped over the fact that the SEC conducted multiple audits and found nothing. That included looking at bank accounts and positions on hand. That did NOT add up to a PONZI scheme where you are taking money from one person to pay another which is the actual structure of Social Security. The current generation’s contributions are tasked to pay the previous generation.
Add to that, HSBC, which has been itself indicted for money laundering more than once, stood out as the largest “victim” of Madoff’s scheme – $1.5 billion. HSBC pays countless fines for every scandal they seem to be in the middle of.
In my case, the Bank said they had no idea where the money was after they stole it. How does $1 billion leave a bank without a withdrawal of some sort? Had it not been for my clients standing with me and doing what I told them to do and then sued HSBC, they would have gotten nothing, the government would have claimed I lost it all and the ban was not responsible. The government then put a gag order on me to stop me from helping my clients against the bank! If the bank was not trying to take my client’s money to cover their losses in Russia, then why put a gag order on me if the bank did not do anything wrong?
Then to hide my profits, the receiver handed the notes we issued to HSBC for them to redeem for $606 million pocketing $400 million profit stolen from my company. A former employee bumped into a former HSBC official and he asked what the hell went on. The bankers bluntly told him, the deal offered by the government was too good to pass up. When I asked a NY lawyer why no banker ever is charged or goes to jail, he laughed and said: “You don’t shit where you eat!”
Remember the 1995 collapse of the British Barings Bank because of a “rogue” trader? Nicholas William Leeson was an English former derivatives trader whose claimed fraudulent, “unauthorized and speculative trades” resulted in the 1995 collapse of Barings Bank, the United Kingdom’s oldest merchant bank. Leeson was convicted of financial crime in Singapore court and served over four years in Changi Prison. At the time, I owned a Brokerage House I was asked to bail out by the Japanese government. At our Hong Kong office, Barings wanted to open an account to trade with Leeson in charge.
I knew the corruption of the banks and if the trade went wrong, they would claim he was not authorized. That was the standard operational procedure. Knowing the inside of the industry out, I insisted on a letter from the Board of Directions expressly laying out the credit line for Leeson they requested from my company. I got the letter. So when Leeson supposedly went belly up, guess what. I was quietly paid when everyone else it was said Leeson was a rogue trader.
The New York Post journalist Isabel Vincent who wrote Gilded Lilly, the wife of Edmond Safra, had called me and asked that since I had said that Republic National Bank, Edmond Safra’s, had been illegally trading in my accounts, did I think they were laundering money for the Russian mafia “as they were doing in Madoff’s?” I said I did not know. All I could tell was there were countless errors constantly being put into my accounts and then backed out. At first, I assumed they were “parking trades” in my accounts to use my cash for their margin. Of course, if the “error” was backed out to a different account, they indeed, they were engaging in money laundering.
The court-appointed forensic accountant even wrote to the court about the unprecedented errors in the accounts. The government refused to provide account information to allow them to audit what was going on. The court-appointed counsel, David Cooper, I believe was doing everything he could to help the government cover everything up. The forensic accountant then sent letters to the Judge, and he took no action.
You now have the FTX scandal. You will see that there will NEVER be a trial that would expose all the money laundering where the Democrats had Zelensky, which supposedly needed money to defend his country and fee starving Ukrainians, hand the money to FTX who then happened to be the #2 donor to the Democrats for the midterms. Guess what! Sam Bankman-Fried was charged in the most corrupt court in the nation – the Southern District of New York. The Court of Appeals admitted on page 97 of US v Ziccehtello, that judges are altering transcripts and changing the very words spoken in court. That is 20 years in prison if you or I alter court documents. They do it all the time. When I confronted Judge Richard Owen about this practice, so many people showed up in court to see what would happen. The lawyers said you can’t accuse a federal judge of committing a crime. I said you all say they do it. They responded. Yes, but you cannot accuse them of doing it. The judge got scared and admitted it in public but claim it wasn’t material.
All the press was there AP, New York Times, Bloomberg, NT Post, you name it. NOT a single member of the press reported what took place that day. OMG! Exposing the federal courts corruption? Impossible!
If a case is a high profile, you will NEVER see the truth in the media.
Those who make peaceful revolution impossible will make violent revolution inevitable – John F. Kennedy Is violent or peaceful revolution on the horizon? The United States of America as the ‘Great Experiment’ in self-government is failing. While people slept, elites have been allowed to take over, not in governing, but in ruling. Elections are awash in fraud. Government institutions are seemingly impotent in applying checks and balances…corruption is overflowing. Our culture has been pushed to decline by a godless social ideology. The elite have taken an active part. They know the world is about to collapse or be changed, but they are prepared, lifeboats at the ready, while the common folk stare at the cold water nearing their feet. People are now talking about the Uniparty. Who are they? What are they?
The Uniparty is a resurrected buzzword for the joining of the Democrat and Republican establishment to obfuscate the will of the American people and push forward The Great Reset for their own interests. The perfect marriage. They’re a veritable fifth column working to destroy America as founded, sometimes competing with each other for lead turncoat. It includes bureaucrats, members of the media, big business, and academia. The Republicans involved (RINOS) are closer to Democrats than members of their own party, but many are so far up in seniority they dare not leave the party. They have become an unrecognized third party, more recently, a party dedicated to stopping the outsider, Donald Trump.
Make no mistake, Mitch McConnell would rather be Minority Leader in the Senate than just a senator in a majority Senate. Why else would he withdraw millions in support of 2022 Senate candidates? He’s responsible for trillions in spending under Biden and the inflation we are all feeling. He is a RINO in the first degree, a failure and a disgrace. Polled Democrats and Republicans say they are not well represented in government (PRRI). Except for a brief respite during the Trump presidency, the GOP hasn’t truly represented their voters for many years.
The term Uniparty has been applied loosely from time to time from at least FDR, but Ralph Nader gave it proper context in 2000 meaning the Washington establishment. People have used ‘Uniparty’ for various purposes, neo-liberalism, green causes and the like. But, it is now used primarily by conservatives to attack the linking of mainstream Republicans and Democrats against America First or conservatism. The Uniparty is not on our side. They are essentially socialist and globalist or just lowlifes looking for opportunity. They are a government within a facade of a government. They have an agenda, and you are not part of it. Even though George Washington abhorred the thought of political parties, the human trait of forming tribes was always too great. And now the tribe mentality has crossed party lines.
Why does it seem like America is on a fast track to a destination no one voted for? No matter how we vote, no matter what we say, no matter what we reject in the market place, the country seems headed over a cliff, and we have no control over it. How is it that Trump was able to turn our country around a full 180 degrees in just a few short years? We were being held back by past administrations. The Uniparty has put our country on autopilot and programmed that autopilot with no input from the people.
With only 15% of Americans saying our country is going in the right direction (AP), did we really vote for increased crime, inflation, higher taxes, open borders, more drug trafficking, censorship, the elimination of any morality? Do Americans want 4,000 page bills smelling of pig, made into law in the middle of the night that no one has read? Do Americans want legislation written in the shadows? Why can’t we win an election that reflects the voter’s sentiment?
Even Democrats are getting nervous (80%). Why do Disney and Hollywood keep releasing movies that shock our moral conscience, even when they fail at the box office? Hollywood complains that their earnings have fallen, yet they continue to give us junk. Why is it more profitable to stay home rather than work? Why do politicians seem to ignore their constituents? Why do the Biden, Clinton and Pelosi families get to break any law they want? Why does Congress name bills that don’t reflect content. Over a year and a half ago, Congress approved Biden’s $2.5 trillion infrastructure bill. Where’s the infrastructure? Now we find out that only 25% of the bill had anything to do with infrastructure. We did get a $20 million heated sidewalk.
Americans were lied to with regularity during the Bush and Obama administrations and now with Biden. We were not allowed to get what we wanted during the Trump administration… nor were we allowed to get what we voted for in 2020 and in 2022. Not allowed? By whom? The Globalist Uniparty. Since Tucker Carlson reported that the CIA had a hand in the JFK assassination, one can imagine Uniparty implication. Representative Constitutional Democracy is dead in America! It is dead because the Uniparty has willed it so. Their power is more important than your freedom and liberty. It is considered ultra-conservative today to preserve our nation as founded. There is, however, a cadre of Republicans like Andy Biggs (AZ), Bob Good (VA), Andy Harris (MD), Lauren Boebert (CO), Matt Gaetz (FL), Matt Rosendale (MT), Eli Crane (AZ), Chip Roy (TX), and Byron Donalds (FL) that are determined to fix Washington, and they will not be deterred. They refuse to compromise with a political cartel that is destroying America, or Kevin McCarthy who has a Conservative Review score of 54% (F). They are our last refuge in this government…true courage! These Representatives are doing their job. They are representing their constituents who put them there and standing for the principles for which this country was founded. What a concept.
Maybe McCarthy will lower his head a bit in remorse for his past political transgressions. We are no longer the same country. It’s in the hands of the globalist establishment and they are not about to let go. Oh, they may have allowed us to win a thin margin in the House because the number of votes couldn’t be overcome, or they just want us to think everything is normal, but who is the Speaker of the House?… an establishment shill? Trump was sold as the anti-establishment president, yet many of his appointments were head scratchers. It was a swinging door. It was no surprise that he couldn’t get the wall built or the swamp drained. Paul Ryan was Uniparty. Trump constantly criticized Bush’s WMD/Iraq war and then he appointed Bolton as National Security Advisor. Go figure. I am not an anti-Trumper, but during the Trump administration, it became apparent that it was going to take more than a president to fix this country. Trump was checked at every turn until his checkmate in 2020. In times of emergency, some react quickly, some slowly, needing time to process, in many cases to their detriment. Now that agents from Hell are working to undermine our nation, removing the foundation holding it up, people are still trying to process what is happening in spite of all the evidence.
Time is running out. My great fear is that the Uniparty is going to continue destroying our country for their purposes without opposition. Elections now seem futile. The judicial system has been neutered. Congress and the judiciary does not act even when they have legal precedent. Partisanship has taken the place of patriotism. Too many of our patriot politicians are mealymouthed, instead of expressing outrage. Profiles in courage seems relegated to a remote past. The new Congress must take the lead in fixing our country. If the people take the lead, it is not going to be pretty. If enough people feel they no longer have a say in our government, my fear is that they will push back, and push back hard. Americans will put up with just so much.
Admiral Yamamoto recognized this after Pearl Harbor and said with regret, “I fear all we have done is awaken a sleeping giant and fill him with a terrible resolve.” Will the Uniparty relent, give power back to the people and bring us peace and stability or hold on to their power with a jealous obsession and inevitably bring about violence? What does history say?
Sometimes you need to look behind the curtain before you understand the real trend. It is true that Federal Reserve officials are committed to fighting inflation and expect higher interest rates to remain in place until more progress is made, according to minutes released from the central bank’s December meeting. Also what has been reported is that at that meeting, policymakers expressed the importance of keeping the restrictive policy in place while inflation holds unacceptably high.
Now let’s look behind the curtail for just a peek. War ALWAYS impacts interest rates and they traditionally rise in periods of such conflict. After Europe kept rates NEGATIVE from 2014, that means every bond they sold for 8 years is now losing money. This was the bond crisis in London and then you had Janet Yellen come out and revealed the real silent worry.
Yellen came out and proposed that the Treasury buy in long-term debt and swap it for short-term. Some were out there claiming the Treasury was competing with the Fed as a second central bank. That just illustrated how much they do not understand what is going on or even how the monetary system works. The proposal was NOT another QE. The Treasury cannot create money as can the Fed. She was talking about a SWAP because the long-term debt is in crisis mode with the coming war. Smart players want to swap long-term for the short-term.
China has been dumping bonds since late 2021 as Biden has been claiming the US will defend Taiwan. I can confirm that under EVERY possible military play, the US will lose. I have reported this before. The US cannot defeat China – PERIOD! With China now selling off US debt and shifting to gold, they are seeking to insulate themselves from any Western currency since Biden violated every international law to impose sanctions on Russia. China elected Xi Jinping because Pelosi when to Taiwan just before the election confirming that we are headed to war.
Against this backdrop, the Fed CANNOT lower interest rates. This is NOT 100% about inflation anymore. The Fed realizes that the Biden Administration is determined to create World War III. As we are heading into a war they must adopt a war posture as well. Hence, interest rates will remain firm because not just inflation driven by shortages, but by the fact that the long-term liquidation continues, and lowering interest rates would now cause a capital crisis when staring war in the eyes.
The goldbugs are cheering that there has been a central bank buying of gold. They think somehow that this is because they are bullish on gold. What seems to be going over their heads is what I warned before – when China starts to sell US debt, war is coming. I have made it very clear that the precursor to war is always capital flows. That will be on steroids this year.
My clients taught me how capital and war move. At conferences, I stated that we were advising the Universal Bank of Lebanon. They found a ledger in the basement where someone wrote down the price of the Lebanese pound every day into the 19th century. They asked if we could build a model. I said sure! Here is a chart from back then. Our model warned that their currency would drop dramatically in 8 days. I thought there was something wrong with the data. Needless to say, I formed the client what the computer said and I commented that something had to be wrong. Very calmly, they asked what currency would be best. I said the Swiss franc. 8 days later the civil war began. The computer was correct. Then the same thing happened with the Iraq-Iran war.
By 1998, I understood the model’s ability to forecast war. I have never created a model to do that. It figured it out all on its lonesome. I stood up in June 1998 in our London WEC and warned that Russia would collapse in about 30 days. The London Financial Times reported that forecast and that became the collapse of the Russian debt market and Long-Term Capital Management debacle.
I have warned that if China was preparing to invade Taiwan, then they would start to sell off all US government debt. They would not risk owning US government bonds and watch Biden freeze it all and then claim it will be used to rebuild Taiwan as they are doing to Russia. So China began selling off US debt at the end of 2021. They have been buying gold because they cannot hold US or EU debt in time of war. It is as simple as that. The gold is simply neutrality, for it also does not pay interest. – So much for the inflation nonsense.
I have created this site to help people have fun in the kitchen. I write about enjoying life both in and out of my kitchen. Life is short! Make the most of it and enjoy!
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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