Armstrong Economics Blog/Gold Re-Posted Feb 2, 2023 by Martin Armstrong
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?
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.
Armstrong Economics Blog/Interest Rates Re-Posted Feb 2, 2023 by Martin Armstrong
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.
Posted originally on the CTH on January 29, 2023 | Sundance
There is something quite hypocritical about Harmeet Dhillon criticizing the RNC over not winning elections yet taking millions in legal fees from the RNC and never winning an election related case.
Harmeet is as successful a lawyer for the RNC as the private corporation is at winning elections; yet for some reason, people choose not to see it.
Harmeet Dhillon is successful at collecting legal fees from the RNC club, and the RNC club is successful at collecting donor contributions from Wall Street, Hedge fund managers, corporations and billionaires. No one in this process has been successful at collecting ballots, because the club priorities have always been on the money gathering operations, Dhillon’s disingenuous claims notwithstanding.
In this interview segment, Dhillon talks about losing her bid for the RNC chair position, while also talking about the need for structural reform to the way the RNC operates. The fundamental change needed is accurately pointed out; however, you cannot change a system simply by retooling the same people who have been inside the system when the broken operations were created. Ronna McDaniel and Harmeet Dhillon are cut from the same cloth. WATCH:
Posted originally on the conservative tree house on January 25, 2023 | Sundance
Project Veritas goes undercover and finds another top-level Pfizer Research and Development executive admitting the company is mutating COVID viruses to create vaccines. Instead of calling it “gain of function” research, which is illegal, they are calling it “directed evolution.” This is very disturbing.
[NEW YORK – Jan. 25, 2023] Project Veritas released a new video today exposing a Pfizer executive, Jordon Trishton Walker, who claims that his company is exploring a way to “mutate” COVID via “Directed Evolution” to preempt the development of future vaccines.
Walker says that Directed Evolution is different than Gain-of-Function, which is defined as “a mutation that confers new or enhanced activity on a protein.” In other words, it means that a virus such as COVID can become more potent depending on the mutation / scientific experiment performed on it. (read more)
Posted originally on the CTH on January 22, 2023 | Sundance
CTH has predicted the most significant political revelation in 2023 will be the exposure of the Washington DC UniParty, and one of the largest moments for this sunlight is going to come with the “debt ceiling” extension.
The background to understand this level of sunlight, comes specifically because 20 House Republicans have taken a stand with bold contrast. Whenever there is a bold contrast situation, the UniParty is exposed because the lavender hues where red and blue overlay is not possible. The House20 have created a situation where Speaker Kevin McCarthy cannot hide, and there are enough MAGA Republicans to expose how the conniving UniParty apparatus really works.
Within the CBS political discussion, Robert Costa puts the upcoming ‘debt ceiling’ discussion into context while revealing how the White House is approaching the issue. Costa is a vested weasel, but what he says in this segment is accurate. Joe Biden will work with Mitch McConnell in the Senate to subvert the House of Representatives, because the House -as structured by the MAGA coalition- is now viewed as the enemy to both the White House and Senate republicans.
OMG, guys, like how lucky are we right now?
You don’t have to guess if Costa is correct on this, because the evidence is already in place. What Costa is describing is exactly how and why the 2023 Omnibus spending bill was put together by the White House, Mitch McConnell and Chuck Schumer before the Republican control of the House took place. Senate Republicans, led by Mitch McConnell, are structurally aligned with Democrats against the House Republicans.
The CBS panel is essentially having a conversation saying, ‘How lucky are we’ that Mitch McConnell is a Democrat right now? And this is the truest nature of the UniParty in action.
[Transcript, video at 02:21] – MARGARET BRENNAN: Well, I’m glad you bring that up, because the other thing that the departure of the chief of staff raises questions about is this looming policy and political conversation about the debt ceiling.
Who runs point on that? Obviously, the Treasury secretary has a huge role. But in terms of talking to the Hill and the negotiations, who’s doing that if the chief of staff is leaving?
ROBERT COSTA: What I’m told from people inside the West Wing is that President Biden himself has a relationship with Mitch McConnell, the Senate Republican leader, of course, with Chuck Schumer, the Senate Democratic leader.
They are in some ways going to try to cut out Speaker Kevin McCarthy and the House Republicans. There’s not an appetite among Democrats to put spending cuts on the table at all. They would like to see a clean debt limit extension. And Jim Clyburn, one of the top Democrats in the House, recently told me he could see a scenario where centrist House Republicans band together with House Democrats for a clean debt limit extension.
[…] ROBERT COSTA: Privately, I’m told President Biden and Senator McConnell have chuckled behind the scenes with longtime friends about how at this stage in divided government, it’s these two men who have long been friends who are being counted upon to perhaps cut a deal.
I remember, when I first started covering Congress a decade ago, I would remember Vice President Biden was the one…
MARGARET BRENNAN: Yes.
ROBERT COSTA: … who came to the Capitol to meet with Senator McConnell to cut a deal on that so-called fiscal cliff way back then.
So, they have that history, and they were recently in Kentucky together, showing at least, not political solidarity, but in terms of a personal relationship, there’s a real rapport.” Video Prompted:
Armstrong Economics Blog/Press Re-Posted Jan 17, 2023 by Martin Armstrong
COMMENT: I think fake news is global and it definitely appears to be some sort of international manipulation of society. Here in Germany, it might be worse than there across the pond. We have fake news over COVID, now hiding the vaccine injury crisis. The press has its agenda. I guess they are like the North Korean military. They get free food so they lie and oppress everyone else.
I don’t see this is going to ever change. You are right. We simply have to crash and burn for these people will never report the truth. It always comes down to them against us. You are the legend and you have paid the price for that title.
Best wishes, always.
PS Dubai may be the only place we can all get together again. Think about it!
As pointed out by Norman Fenton and Martin Neil, The LANCET appears to have lost its reputation for independence and joined the crowd over COVID and fake news. As they pointed out in this article, on May 6th, 2021 “The Lancet published a blatantly flawed study of the effectiveness of the Pfizer covid vaccine on the population of Israel, claiming it was 95% effective.” Then on May 17th, 2021, Fenton and Neil submitted a rapid response 250-word letter explaining why the study was flawed. The LANCET refused to even publish their letter to the editor.
I did not get vaccinated BECAUSE I have worked with governments around the world. I have been called into just about every crisis since 1985 BECAUSE I understand the game, which is all wordsmithing. Once the government began pushing the COVID vaccines and locked down the world, knowing how politics works, I decided to hunker down and refused to get vaccinated for ONE MAJOR REASON! Once the government crossed that line and became authoritarian using COVID, I knew that there would NEVER be any accountability whatsoever. Now that people have been seriously injured by these vaccines, the government will continue to call it a conspiracy theory for they will NEVER admit a mistake or that they were bribed.
I was NEVER anti-Vax. My children got all the normal vaccines. Once in a while, I would take the flu shot. I know someone who thought he was getting a flu shot and they gave him the COVID vaccine and he became seriously ill. A lawyer I know took the vaccine so he could travel, got the blood clots, and now cannot fly. Now as the elite fly to DAVOS, they want only pilots who were NOT vaccinated.
The major medical industry has failed society. My doctor retired and a new younger doctor took over his practice. He asked me if I was vaccinated. I responded resoundingly – NO! He responded GOOD!. I suggest if your doctor just follows the crowd and the government, get someone else.
Posted originally on the CTH on January 16, 2023 | sundance
Another great albeit lengthy interview for consideration. U.K. political pundit Neil Oliver interviews Dr. John Campbell amid a “knowing what you know now”.. type outlook and discussion over the current status of the COVID-19 vaccination protocol.
In the arc of his pandemic discussion and evaluation, Dr Campbell is now in facing considerable discomfort as he outlines the “lost trust” in the healthcare industry, as an outcome of manipulated science. This has been a painful journey for John Campbell as he outlines in the interview. Dr. Campbell himself took two doses of the mRNA vaccine, based on the professional advice of the industry. However, as he states in the interview, he can no longer assert his belief in the science that led him to his original decision, and given what he knows now, he would not have taken the vaccine. WATCH (prompted):
A conversation following the journey of a pragmatic believer down the path to uncomfortable cynicism.
Posted originally on the CTH on January 14, 2023 | Sundance
This article is intended toward a specific set of interests.
♦First, the larger media apparatus needs to comprehend the scale of the current situation.
♦Second, the medical establishment need to come to grips with the situation they pretend doesn’t exist.
♦Lastly, to the alternative media forums writ large, with my challenge to you to open up every format you control, ask simple questions and then just shut up and listen to readers and viewers.
I can well imagine a Rush Limbaugh show (the man had instincts) that would last for a week where he just lets listeners explain why they did not take the COVID-19 vaccine. Tens of millions of unregulated and unthrottled voices tuned-in to listen and nod their affirming heads. God, we miss Rush.
What is overwhelmingly clear right now [SEE BACKGROUND] is the need to have an honest national conversation about the entire dynamic that surrounded the COVID-19 vaccination push. Indeed, if anyone in the media, government or medical system are wondering why only one-in-five people are taking the current COVID-19 booster shots, then just READ HERE.
One aspect, now brutally obvious and anger inducing, is connected to the Twitter File revelations about how various government interests and the medical establishment were intentionally censoring anyone who questioned the early vaccine narrative.
There was never an open debate, a public conversation about the vaccine itself, where the public and counter voices in the medical field could discuss the various vaccine protocols.
Instead, there was the opposite; an intentional effort to shut down any conversation, shut out any person in opposition to the narrative, and destroy any professional voice who might raise concerns.
Throughout 2020, 2021 and deep into 2022, all of the major social media and public forum discussion platforms followed the same censorship, moderation and control protocol. With great deliberateness I am saying that issue is percolating in the background right now – like a powder keg in search of a spark.
I suspect the people in power do not want this conversation even today because there is a deep tremoring sense recognized underneath the issue, and no one in power wants to be anywhere near the eruption if the conversation were suddenly to break out.
At the end of that eruption; and with a new and fulsome recognition about the scale of our assembly; I sense we would see a demand for a deep reckoning; and that is exactly what those in power are desperate to avoid.
I would like to conclude the foreboding with an optimistic note. I believe if you were to look at what we call the “western nations”, you would discover that the uptake rate for the vaccine itself amid the U.S. population is the lowest of the entire group. There’s a reason for that.
The same strain of distrust in government that was embedded in the DNA of every American from our nation’s founding, is likely to be the inherent immunity that saves us.