QUESTION: Dear Martin,
Merry Christmas to you, your family, and the Armstrong Economic team. All of you have worked tirelessly to help humanity.
A question about the UK: you have discussed saving the USA and that your proposal would always work in the EU. What about the UK? You say Trump is married to old theories. What about Nigel Farage?
Thank you for everything you do.
Ash
ANSWER: Starmer’s approval rating has crashed. Now, 61% of Britain disapprove of his policies. Even though Labour has an overwhelming majority and can pass anything they want, the reality is that our computer does not show Starmer will survive until the next election in 2029. This is a special report with the proposal to save Britain, and it can be done if Nigel Farage dares to lead the entire world to a new economic freedom. Once one nation rejects the old theories that not even central banks can use anymore, the rest will follow. I would say the two countries that could show the way forward for the future are Britain and Argentina.
QUESTION: Regarding CBDC, will they convert all the savings/cash in your bank account, will they convert everything in your brokerage accounts (all stocks etc.) will they go after gold and silver you have in storage (Brinks, for example)?
KS
ANSWER: Everything will be converted to the new CBDC. The money in your bank account is already just an electronic book entry. This is why banks are closing branches everywhere in the USA as well as Europe. They are preparing for CBDCs, which means without physical paper money, bank branches are no longer needed. You can deposit a check on your phone. The only thing left for a branch is safe deposit boxes, and the government assumes you are hiding cash there anyway. So kiss your local branch goodbye. The local bank I used because it was the closest has closed, and it is now a 30-minute ride to the closest one still open.
The monetary system will still function as normal. The exchange will probably be one-for-one. The main purpose of this is to destroy the underground economy to be able to tax everything – even the 16-year-old girl next door you hire to babysit while you go out to dinner and that $100 bill you found in the parking lot that you cheated the government out of their 50% gift tax. We are all looked down upon as scum. They presume we are all guilty and the whole debt crisis is never their fault – it is you – we the people.
This is the natural progression of direct taxation – the complete loss of all liberty. This is why the Founding Fathers prohibited direct taxation. But the socialists seized the government and followed Marx to get the evil rich. It was introduced with the promise that only the rich would have to pay. They lied about that as well, for as soon as the income tax took place, simultaneously in the same bill, there was the payroll tax demanding employers withhold income from their workers.
The federal income tax of 1913 was accompanied by the fact that the law also attempted to withhold the brand-new income tax because the people were never to be trusted. Initial estimates were that the withholding provisions would yield two-thirds of income tax revenue, but in 1916, less than 5% came from withholding. Furthermore, employers’ simple lack of compliance led to a massive groundswell of opposition to the new withholding system.
The people realized that the government lied to get the 16th Amendment passed, and the state politicians voted for it because it allowed them to also allowed them to impose income taxes at the state level. Even cities joined the money grab, imposing city income taxes. Every layer of government now had the right to extort money from the people based on their income, requiring disclosure of their personal lives. You gave your children money, which was circumventing income tax, so they rolled out the gift tax. , which fueled the corruption on a massive scale. The Revenue Act of 1862 included an inheritance tax and gift tax, which applied to transfers of personal assets. In 1864, Congress amended the Revenue Act, added a tax on transfers of real estate, and increased the rates for inheritance taxes. They have always used war to justify raising taxes, but they always remain in place thereafter. The War Revenue Act of 1898 implemented an inheritance tax of .74 % to 15%, which was used to fund the Spanish-American War. This is why the government loves to wage wars.
Stratospheric aerosol injection is the latest proposed method to save civilization from human-induced climate change. I jokingly say that the climate change agenda believes they can simply throw money at the sky to change the weather, and I suppose there is a little truth in every “just kidding” as this method is precisely that.
Volcanoes produce clouds of sulfur dioxide, naturally injecting converted gas into the stratosphere, forming sulfate aerosols that reflect sunlight back to space. Scientists believe that this naturally occurring phenomenon can be replicated. Simply sending sulfur dioxide into the air would not work as it produces solar and terrestrial heat and would actually create a warming effect. Scientists proposed an alternative that involves diamond dust.
As explained in Life Science: “The team compared the cooling efficiency of diamond particles with that of aluminum and calcite particles using an Earth system model that simulates the full climate response of an intervention. They found that the quantity of diamond dust needed to cool the planet by 1.8 F — 5.5 million tons per year — was about one-third the amount of other materials needed to achieve the same cooling effect.”
Therefore, high-altitude aircrafts would need to fly around Earth’s orbit to sprinkle diamond dust constantly. The costs would be outrageous and scientists say this method would merely “buy us time” as no amount is enough to change mother nature. A 2020 study drastically underestimated the cost of this ridiculous idea, stating it would cost $175 trillion over a 65-year period. They could use SAI with sulfur dioxide as an alternative for a mere $18 billion per year.
No amount of funding will allow governments to play God with the universe. The climate is changing on target, as weather has always and will always be a naturally occurring phenomenon. It is downright shameful that these “scientists” are imagining outrageous scenarios fueled by fear-mongering to alter the planet at our expense.
To a large extent, there is still much confusion regarding the creation of MONEY. Some people still think the government actually creates money as if it were in ancient times. When I say MONEY is no longer TANGIBLE, but it is VIRTUAL, many seem to fail to grasp just how much the world has changed. In ancient times, the state minted the coins AFTER 600 BC attempting to certify the weight to facilitate commerce. However, the government quickly learned that there was profit to be made, which is known as the “seigniorage,” referring to the difference between the intrinsic value of the metal and the declared value. In such a world, the state predominantly created money supply, discounting leverage from banking and counterfeiting.
Today that is about as far removed from how the economy functions as the next inhabitable planet. In the example I used that if a foreign investor buys domestic real estate, he is increasing the domestic money supply. The conversion of his local currency to the domestic currency is NOT dictated by some FIXED quantity created by the central bank. It is just electronic. Nobody actually prints anything , and the central bank does NOT even create electronic currency. It is just a book entry. Because the foreign investor is bringing in cash and buys a TANGIBLE object (real estate), the net amount of cash in the domestic supply of money increases the same when the Fed bought US bonds under QE2. Banking also LEVERAGES the economy by creating MONEY. If you have $1,000 on deposit and I borrow $1,000, we both now have accounts reflecting $1,000 each. Again, the state did NOT create that money.
It is once more a book entry. This is how a BANK PANIC will take place. You go to the bank trying to get your $1,000, but the bank actually lent it to me. As long as you do not try to take out that $1,000, everything is fine and dandy. Therefore, MONEY is not TANGIBLE, and it is purely VIRTUAL! The idea that MONEY is supposed to be some TANGIBLE object actually ended in 600 BC once government got involved and began to manufacture a profit from creating money. As long as the economy is free, then you are free to keep your wealth in whatever object you desire, be it gold or real estate. MONEY is NOT a store of value, for it has always fluctuated, rising in purchasing power in recessions (NOW) and declining in booms.
America, we have a problem. The chatter being whispered in DC is that now some Democrats are saying that Pence was wrong and he should not have certified the 2020 election. This reversal is self-serving because some now argue that Kamala should NOT certify the count because Trump is disqualified under the 14th Amendment. Then, we have RINOs in Congress seeking to create a battle over the speaker. If there is a protracted fight where Congress can’t elect a speaker, if that takes place and nobody is sworn in, they can’t certify the election. If Trump can’t be certified on January 6th, then if he can’t take office on January 20th. Without a speaker, they cannot complete this process.
Part of the problem stems from the Supreme Court’s decision on whether Colorado could exclude former President Donald Trump from its ballot as an insurrectionist. The Supreme Court sidestepped the question of the 14th Amendment. The Court ruled that they didn’t like allowing a single state to kick Trump out of the presidential race, and they didn’t appear comfortable with the Court doing so either. In oral argument, the attorney representing Colorado warned the justices that if they didn’t resolve the question of Trump’s eligibility under the 14th Amendment, “it could come back with a vengeance”—after the election. This leaves the door open for the Democrats to defy the national vote.
Here is what I do not like. The computer has projected a Panic Cycle for January 6th. Volatility will start to rise mid-week. We even have a Directional Change on Friday. At the very least, we may have a constitutional crisis unfolding on January 6th.
The last time there was a brawl on the floor of Congress was February 15th, 1798. Well, if that unfolds, CSpan viewership will probably exceed all the mainstream news combined.
Something very interesting and openly obvious is happening amid the backlash that Elon Musk and the Silicon Valley network are facing to their H1B position.
Elon Musk has changed the Twitter algorithm to dimmish the voices of those who would openly confront his network of supporters within Silicon Valley and beyond. If large follower Twitter accounts, like those of Musk himself, David Sacks, Vivek Ramaswamy and Musks’ promoted network of influencers, begin blocking accounts on the platform, then the voices of those accounts get purposefully diminished by the algorithm.
Much like having a VIP section that can remove people from the audience, Musk is pushing opposing viewpoints to the acceptable narrative into the background of the public square.
[SOURCE]
The timing of this is not accidental. The allies of Musk have been getting blasted by some rather large MAGA accounts over the H1B visa position of the Silicon Valley team. In response, Musk is pushing those opposition voices out of the conversation. This is another way for the newly aligned tech group to maintain influence over the policy of President-elect Donald Trump. In fact, I have been informed this is exactly the purpose.
President Trump announced that David Sacks would lead the tech, crypto and AI policy group. This team being assembled by Sacks are all-in support of H1B visa use to bring in foreign workers. They do not want publicly visible opposition to impede their agenda.
To be fair, it makes sense for the tech network to do this because it is akin to President Trump’s incoming chief of staff, Susie Wiles, saying she would not let what she defines as “clown car people” influence President Trump. It’s an issue of controlling a very directed policy initiative. However, the issues around immigration in general, and H1B visas specifically are critically important to many of the long-term Trump supporters.
Elon Musk is building a bubble around Donald Trump to diminish opposition to the technocratic influence of the new allies.
Mr Musk is shutting out, or at least making quiet, the core MAGA base while elevating a new group of arrivals that support Donald Trump. The new group of influential technocrats, billionaires in the tech industry and platform control operators, do not hold the same ideological interests as the core MAGA base. This is the larger reason for the conflict that has been happening over the past week, on the subject of H1B workers.
Musk’s decision to essentially put a friendly super moderator system in place that can control and silence the microphone on Twitter, is a specific move that represents what I personally have been warning about. This group of influence agents do not have the same priorities on much of the MAGA policy the voters expressed.
This is the same basic policy justification behind the “shadowbanning” and platform manipulation previously instituted by Twitter to silence opposition to the COVID-19 vaccination. Only this time it is Elon Musk instituting the algorithmic manipulation, to silence opposition to David Sacks, Vivek Ramaswamy, Sriram Krishnan, Peter Thiel, Chamath Palihapitiya, Jacob Helberg and eventually JD Vance.
If the technocrats control the visible public conversation, that’s not supporting free speech; instead, that’s manipulation and selective censorship of the audience. This is exactly how social media was being controlled in the era of COVID. The new boss motives are the same as the old boss motives, the policy is the only thing different.
LEE SMITH – “Don’t be lulled by fake MAGA truce: H1B issue is indeed consequential. When Dems & GOP offshored mfg (NAFTA, WTO), rationale was that Americans would get great “tech service” jobs—but H1B showed they wouldn’t get those jobs either.
And there’s nothing you can do about it, said Dems and GOP alike. You want those jobs back? Where’s your magic wand? And besides, you deserve the pain, clinging to your guns and God — you’re racist, homophobic, etc. you’re deplorables.
This is what Trump was elected to fight, but according to Vivek: In fact, the things that have caused you pain are your fault. Your culture prizes mediocrity, your parents raised you poorly. Then Elon: Fight me on a thing that has hurt you, and I will crush you.
Vivek continues to double down: instead of walking back or even just modifying his public rebuke of American families, he characterizes it as one of his “hard truths” — as other MAGA influencers have jumped to his defense:
‘In fact, nothing bad happened, it was simply a conversation, and it’s the left who is trying to divide us!’ But to tell people long targeted by an elite demoralization campaign that they shouldn’t believe what they heard with their own ears and blame it on others is predatory.
So, yes H1B matters because it’s an effect of the core issue — indeed the reason DJT is POTUS — a political and corporate establishment that has waged a half-century long campaign to destroy the American middle class. (LINK)
Predictably, there was always going to be uncomfortable moments in this tenuous MAGA alignment with the billionaire technocrats; however, this is not that. This is far beyond uncomfortable. This is a core issue for millions of Americans, and the Silicon Valley response to controlling the conversation is not good.
Ultimately, as we are all witnessing, many of these people do not have our best interests at heart.
Keep watching closely.
Treasury Secretary Janet Yellen has announced the U.S. debt ceiling is likely to be reached mid-January, while Joe Biden is still in office. President Trump tells congress to deal with the issue now.
First, here’s Secretary Yellen:
WASHINGTON, Dec 27 (Reuters) – The U.S. Treasury Department may need to take “extraordinary measures” by as early as Jan. 14 to prevent the United States from defaulting on its debt, Treasury Secretary Janet Yellen told lawmakers in a letter on Friday.
Yellen urged lawmakers in the U.S. Congress to act “to protect the full faith and credit of the United States.”
U.S. debt is expected to decrease by about $54 billion on Jan. 2 “due to a scheduled redemption of nonmarketable securities held by a federal trust fund associated with Medicare payments,” she added.
She said: “Treasury currently expects to reach the new limit between January 14 and January 23, at which time it will be necessary for Treasury to start taking extraordinary measures.”
Under a 2023 budget deal, Congress suspended the debt ceiling until Jan. 1, 2025. The U.S. Treasury will be able to pay its bills for several more months, but Congress will have to address the issue at some point next year. (more)
The Biden spending is already baked into the proverbial cake. Congress will have to raise the debt ceiling limit and President Trump is urging them to do it now, before he takes office.
[SOURCE]
Specifically, because 38 republicans voted against the 2nd continuing resolution earlier this month, President Trump will face this debt ceiling mess on day one if it is not addressed before. They republicans knew this reality when they voted no.
Now President Trump is trying to avoid a potential mess early in his administration. No amount of spending cuts are going to stop the previously authorized spending. We are still going to hit the debt ceiling regardless of action from within the House to downsize government. Congress can freeze all spending, and we will still hit the debt ceiling.
It certainly looks like a crew of House republicans knew this would hamstring President Trump, and measures to avoid default are going to be needed.
Former President Jimmy Carter is dead following almost two-years of hospice care. He was 100 years old. The Carter Center confirmed his death, saying he died peacefully at his home in Plains, surrounded by his family. He was the longest-lived president in U.S. history.
President Trump said, “President Jimmy Carter is dead at 100 years of age. While I strongly disagreed with him philosophically and politically, I also realized that he truly loved and respected our Country, and all it stands for. He worked hard to make America a better place, and for that I give him my highest respect. He was a truly good man and, of course, will be greatly missed. He was also very consequential, far more than most Presidents, after he left the Oval Office. Warmest condolences from Melania and I to his wonderful family!” [LINK]
Joe Biden Said, “Today, America and the world lost an extraordinary leader, statesman and humanitarian. Over six decades, we had the honor of calling Jimmy Carter a dear friend. But, what’s extraordinary about Jimmy Carter, though, is that millions of people throughout America and the world who never met him thought of him as a dear friend as well. [LINK]
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