Tag Archives: 15 minute cities

Jan 9 2024

Big Oil v. California


Posted originally on Jan 8, 2024 By Martin Armstrong 

Crude Oil Production

Chevron can no longer remain profitable in California, where politicians fail to understand the impact of reducing fossil fuels without a reliable alternative. The company has already pulled back hundreds of millions in spending in California over the past two years. Chevron’s Q4 filings proclaimed it needed non-cash write-downs and is expected to report non-cash charges of up to $4 billion.

At this point one must wonder if Governor Gavin Newsom wakes up each day to plot the destruction of California. Newsom announced he was taking over “Big Oil” last year by implementing legislation aimed at price gouging.

Andy Walz, Chevron’s Americas products president, explained that California’s regulations have made it difficult to remain profitable. “A margin penalty can only serve to further deter investment in the state’s energy market,” Walz wrote. “This is not hyperbole, nor is it merely hypothetical. California’s policies have made Chevron’s investments in its home state riskier than investing in other states, with projects being lower in quality and higher in cost.”

Exxon

Adding to the issue, Exxon Mobil also announced it may need to write down its California assets by up to $2.6 billion. “While the Corporation is progressing efforts to enable a restart of production, continuing challenges in the state regulatory environment have impeded progress in restoring operations,” said Exxon. The company expects Q4 earnings to decline by ~$800 million compared to Q3, along with a $1.7 billion drop in industry margins.

Companies as large as Chevron or Exxon Mobil cannot simply pack up and move to another state. Instead, companies are downsizing operations in California and rejecting new projects. California is operating at a $68 billion deficit and cannot afford to lose more business. This will impact gas prices throughout the nation, not just in California. It is not the oil companies but the GOVERNMENT that is price gouging the people through regulations and taxation.

Jan 9 2024

The Next Supply Chain Crisis?


Posted originally on Jan 8, 2024 By Martin Armstrong 

yemen houthi 770x385@2x

The kids Obama attempted to bomb in Yemen all those years ago grew up fast. They’ve now formed surprisingly efficient militias who hate the West and have become powerful enough to impact global trade. Yemeni Houthi rebels are blocking carriers from passing through the Suez Canal and have created near pandemic-level disruptions to the supply chain.

The militia is currently in route to the Suez Canal via the Red Sea. There has been a 25% drop in commercial traffic through the Suez Canal since November. They were initially targeted shipping liners linked to Israel, but began targeting everyone by December. International shipping liners are doing everything to avoid passing through the Gulf of Aden and South Africa. This has completely altered trade between Europe and Asia as the trip is significantly longer.

cargoshipsportofloasangeles

Longer trips equate to higher shipping costs. The cost to move a 40-foot container from Asia to Northern Europe now costs $4,000 – a 173% increase. The route from Asia to the US have risen by about 55% since December at around $3,900. The Shanghai Containerized Freight Index (SCFI), a different calculation for the cost of goods shipped from China, believes costs have skyrocketed 161% since December 15, 2023.

So far, 18 companies have rerouted their orders to avoid the conflict. Shipping rates are now DOUBLE 2019 pre-pandemic levels. The IMF believes 3.1% of ALL world trade is fleeing the Red Sea.

The price of goods will rise, and that will be passed onto consumers; inflation will rise. Governments will be forced to step in to prevent the Houthis from further disrupting world trade. Lives will be lost. And now the West has a valid reason to begin the Israeli canal that they’ve been envisioning for years. This is only the beginning of what will be a violently expensive situation that will send ripple effects throughout the global economy.

Jan 9 2024

WEF: Gen Z Will Accept CBDC


Posted originally on Jan 8, 2024 By Martin Armstrong 

WEF Schwab You Will Own Nothing

The World Economic Forum recently published an article explaining how banks can attract the youngest members of the global workforce. Gen Z (born between 1997-2012) is the first generation to grow up with the internet. Younger Millennials had access, but not to the extent of Gen Z who does not recall life before smartphones. The WEF is looking for ways to profit on their trust in digital products.

The article notes a survey by Oliver Wyman Forum that found that Gen Z has confidence in traditional brick-and-mortar branch banks, with 43% indicating the physical locations give them “peace of mind.” Around 72% of adults in that demographic use “neobanks” which are online-only but various apps and updated features that actually do simplify banking for young individuals. The WEF believes merging the two will benefit the generation who will own nothing and be happy.

They speak of how Gen X is more likely than Millennials to begin investing in equities at a young age, but they fail to note that is because no one trusts government investments. As for young investors, bonds and traditional vehicles are simply boring. Their risk tolerance is much higher. We saw the Gamestop phenomenon and the countless people who lost it all while shouting “DIAMOND HANDS” and “HODL” (yes, I have heard the lingo against my will) as they were misled into believing that they had the power to manipulate the markets.

The WEF also discusses how Bitcoin and cryptocurrencies appeal to the younger investor, but that it “does not imply any rejection of traditional sources of money.” Wrong!

“To build lasting relationships with Gen Zers, however, banks need to combine their physical presence with a competitive, exciting digital offering – including in the metaverse, where many members of this generation spend time. Banks must also provide services that satisfy Gen Z’s demand for convenience, choice, value, sustainability and hyper-personalization.”

Do you see where this is going? The WEF believes that Gen Z will be more willing to accept the idea of digital currency. They will market it as “exciting,” using their own word, and simply another modern technological advancement. They know that the next generation does not have the life experience to understand the full scope of what is happening. It would come as no surprise if the globalists began marketing digital currency to a younger audience first, especially before it becomes mandatory.

Jan 9 2024

German Farmers Begin 8 Day Massive Protest Against Increased Government Taxation and Alarmist Climate Agenda


Posted originally on the CTH on January 8, 2024 | Sundance 

You will likely hear the term “farm subsidies” as Western media claim the German farmers are protesting the decisions by government. However, what they are protesting is not a hand-out of government funds, but rather the addition/increase of taxes for diesel fuel and farming equipment.

The planned eight-day countrywide protests by agricultural workers began today. The actions include motorway blockades and are described by the head of the farmers’ association as “the like of which the country has never experienced before.” The government is planning to increase taxes on Diesel fuel and farm equipment as part of the German “Build Back Better” climate agenda.

Additionally, you might remember the Canadian “trucker protests,” when Prime Minister Justin Trudeau and his left-wing government tried to deflect attention from the justified motive of the truckers by claiming they were Nazis and part of the right-wing extremist conspiracy to destroy government. Well, that same approach is taking place in Germany with government officials claiming the German farmers are backed by right-wing Nazis.

BERLIN, Jan 8 (Reuters) – German farmers kicked off a week of nationwide protests against subsidy cuts on Monday, blocking roads with tractors and piling misery on Chancellor Olaf Scholz’s coalition as it struggles to fix a budget mess and contain rising far-right forces.

Convoys of tractors and trucks gathered on roads in sub-zero temperatures in nearly all 16 federal states, while protesters clashed with police and leading politicians warned that the unrest could be co-opted by extremists.

The protests have forced Scholz’s unpopular government into a tricky balancing act, trying to keep a lid on the unrest while sticking to fiscal discipline after a constitutional court ruling in November threw its spending plans into disarray.

“No beer without farmers,” read one protest banner, while another tractor had a poster from the far-right Alternative for Germany (AfD) party that read “Our farmers come first.”

Vice Chancellor Robert Habeck, whose return from holiday last week was disrupted by furious farmers trying to storm the ferry he was on, warned in a video message on Monday that farmers’ right to protest could be exploited by fringe groups.

“Calls are circulating with coup fantasies, extremist groups are forming and ethnic-nationalist symbols are being openly displayed,” said Habeck. (read more)

According to the German government, the farmers are revolting…

Jan 8 2024

Something Familiar – A Rather Unusual JPMorgan 2024 Prediction?


Posted originally on the CTH on January 7, 2024 | Sundance

Considering that CEO Jamie Dimon would review this type of document and give direct approval, and considering the recent statements of political strategic advocacy by the CEO of JPMorgan {SEE HERE and SEE HERE}, this -albeit familiar sounding- prediction, is, well, rather curious:

[SOURCE, pdf – page 39]

Subtle… like a brick through a window. 

.

Wait….

What was that we were saying about big bankers and finance agents controlling ‘western’ politics?

I digress.

Jan 8 2024

Key Point – Western Govt Pushback Finance Focused


Posted originally on the CTH on January 7, 2024 | Sundance 

Given the increased awareness to the control mechanisms of Western government, it is perhaps beneficial to review one of the key points that can be overlooked. [The Tweet was from December 2018]

In parts of Europe, we see grassroots pushback against the larger globalist agenda as carried out by various EU entities.

In Holland and Germany, we note significant pushback against the Build Back Batter (WEF) agenda by farmers, citizens who support them, and broadly middle class industrial workers. In France the ‘yellow vest’ movement was similarly organized at a grassroots level amid similar concerns.

Now, remember back to the “Canadian truckers protest” and the approach taken by the Canadian government.  Notice how the government of Canada approached the issue of opposition to the COVID mandates by targeting the banking and finance system of the protest group.

Then, overlay how the U.S. banking system was the tip of the spear against gun sales, and the second amendment advocates along with retail gun sellers were targeted through the use of the financial system.  Additionally, the Tea Party organizations were previously targeted through the use of the IRS, again financial targeting.

As you keep this in mind, overlay how resistant voices are targeted by the Big Tech systems through the process of demonetization.  Further, all of the activist efforts, including DEI advocacy and including the organized Anti-Defamation League/Media Matters effort, involves financial targeting – in those examples through advertising.  Again, financial targeting.  The key point is that revenue in general, and banking/finance sectors specifically, are the preferred ‘Western’ attack vector.

♦ BIG PICTURE – CTH has outlined how the “Western government” sanctions against Russia were not really about shutting Russia out of the Western finance and banking system, but rather were targeted to build a financial wall to keep those inside the West controlled through the financial system.

It might seem like a small and yet obvious point, but as you get geographically closest to the epicenter of the Dollar-based financial system, it is the banking and finance sector that becomes the immediate preferred weapon.  Similar ideological social pushback happening further away from U.S. dollar finance control (EU), does not illicit such an immediate jump to the financial weapon.

If you stand back and look at this dynamic, it becomes easier to see the motives and intentions of those who are building the financial wall around us.

No one in the grey zone is really getting locked out of anything; WE ARE GETTING LOCKED IN!

As you head back up to the wall, here’s the elevator question to plant the seed:

…Did you ever wonder why the Canadian Trucker protests were targeted through the banks, but the Dutch farmer protests were not?

Jan 7 2024

Mark Pittman & the Bankers


Posted originally on Jan 6, 2024 By Martin Armstrong 

The late Mark Pittman was a journalist for Bloomberg when, once upon a time, there were still a few actual investigative reporters. Mark did a piece on my operation in Japan. He knew what we were doing, that the accounts were mine, not clients, and that I was buying distressed portfolios. Not one client ever signed a complaint, and there was NO DEFAULT. When they charged me. I met Mark at the Hyatt in NYC across from the Train Station. He knew it was a setup and said: “Marty, we are not going to allow them to do this to you.”

Trenton no Defaults 9 13 1999
HSBC Gag Cover

The law says that if you commit fraud, you MUST help the victims get their money back. Further proof of how New York City is a cesspool of corruption: when they realized I was helping my clients go after the bankers, they put a gag order on me to stop me from helping my clients against HSBC/Republic. They have been doing the same to Trump. The Special Prosecutor went as far as to demand a gag order on Trump so that he could not even criticize Biden while campaigning. You cannot make up this stuff. If you wrote a fiction novel with these maneuvers, they would say it is too far-fetched.

I think it is absolutely critical as Trump is put on trial in New York City. I was granted bail in New Jersey. Not a single NY journalist ever reported the Truth no less the courts. I was interviewed by a journalist who asked about the bank illegally trading in my accounts. She asked if they were using my accounts to “launder money for the Russian Mafia as they were doing in Madof?” The banks claimed in Madoff’s case not to have known. That is absolutely IMPOSSIBLE, for you have to know your client rules. They verified every account and the corporate documents behind each one. Madoff pled guilty to an information quickly. He was not indicted and could have defended for a few years. The only reason he did so was clearly to protect his family. Just as in my case, the bank claimed it had no idea where the money was. It is impossible to get $1 billion out of a bank, and nobody knows where it went. There is NO SUCH thing as a fair trial in New York City. Trump is doomed there, and this is all about interfering in the 2024 election.

Pittman Mark

Mark understood the bankers very well. Bloomberg removed Mark from covering my case and replaced him with David Glovin, who could never praise the government more. It was Mark at Bloomberg who battled in court for years to get the details of those bailouts released to the public. Mark was probably the most professional journalist I ever met. I was told after my case began that Bloomberg purged all the reports Mark had previously written about our firm from their terminals and certainly Japan. It was as if Bloomberg was in on the whole scam.

Mark’s wife, Laura, wrote to me about Mark’s death. It was a sad day, for there was NEVER anyone at Bloomberg I ever met who had the integrity of Mark Pittman.

Pittman lAURA lETTER
Jan 6 2024

The Truth About Bitcoin and Cryptocurrencies – An Unpopular Analysis


Posted originally on Jan 5, 2024 By Martin Armstrong 

Bitcoin and Gold

“Could governments seize bitcoin?” That is a common question, and much to the dismay of many, my opinion does not match the typical analysis. I have lost clients due to my honesty regarding crypto. I understand many firmly believe that Bitcoin will one day become the alternative to the USD, but it is unwise to believe that it is a safe haven to park money. I will not sugar-coat the truth, as feelings must be removed from trading. The answer is an astounding YES – governments can seize Bitcoin and all other cryptocurrencies.

To begin, there is much speculation around the founder(s) — Satoshi Nakamoto – who created Bitcoin (BTC) on  June 3, 2009. The mystery person or group (or government agency) has been MIA since 2011. Yet 1 million Bitcoins remain in their original account, untouched. His wallet is estimated to be up to $73 billion, and if this is indeed an individual, he or she is one of the top 15 richest people in the world. They have never moved a fraction of a BTC from their account. So, one wallet contains 5% of all mined bitcoin. Will this person or entity perpetually hold?

Only 2.3% of Bitcoin owners own a full Bitcoin, while 74% own less than 0.01 BTC. Bitcoin was initially a way to remain under the government’s radar, with people using cash to fund their anonymous accounts. The majority no longer use this method and favor platforms that are required by governments to collect and verify all user data.

Bitcoin’s price is akin to the problem that existed when the bubble burst in 1966 with mutual funds because they were listed back then. The value can change at a volatility rate of 10x that of the dollar, making it a highly dangerous instrument as a store of wealth. It is solely a trading vehicle until they weigh it and the value is changed.

1966Crash D

In 1966, investors bid the mutual funds up beyond net asset value so during the crash, people lost everything when they thought it was a secure investment. The net underlying assets may have dropped 20%, but they paid 20% over the net asset value and then sold at 50% of the net asset value. Many mutual funds crashed 70-90%, whereas the Dow drop was 26.5%. Ever since, mutual funds have no longer been allowed to be listed. You go in and out at net asset value. Bitcoin must change its structure, or it will never become a valid currency with a stable store of value, which is supposed to be the whole point. It is just an asset class of high volatility.

Countries with strong currencies do not want bitcoin in existence. There are numerous ongoing efforts to regulate all cryptocurrencies, as politicians claim people are using it to either bypass taxes or commit crimes. Governments have reached the end of their rope and are actively on the hunt for additional taxes. They will default on all their debts, and the new monetary system they are planning will give them total control.

Governments in Europe and the Middle East prohibited my company from selling their clients REPORTS on bitcoin. We spoke with the regulators and explained we were merely selling a report and not currency, but they threw it all in the same bin. The same exact thing happens when we ship ancient coins as governments consider them currency despite them not being in circulation for numerous lifetimes.

1933 FDR exec order gold

Those who call Bitcoin “digital gold” are onto something, as governments have seized gold in recent history. Herbert Hoover admitted in his “Memoirs” that the investigation that led to the creation of the SEC was on the back of a phone call where he was told it was a conspiracy against his administration to create the stock market crash.

Governments will impose capital controls as they always do. That will mean that they will have no intention of allowing people to buy and sell cryptocurrencies. They will most likely do that as well when it comes to gold and silver. A black market in precious metals may exist with a supply that cannot be increased. They might even seize gold mines.

Governments are allowing cryptos like Bitcoin to exist because they can trace the transactions far better than paper currency. Bitcoin is a trading vehicle and nothing more. Just follow Socrates. That gives at least an unbiased viewpoint. What goes up comes down, and what goes down eventually goes up. That is just the law of the market.

Every major central bank has said they plan to move to CBDC. The entire purpose of the CBDC is to impose COMPLETE capital controls. So, how will you buy and sell anything that they deem to be a threat to their totalitarian world?

Jan 4 2024

What Will the Fed do in 2024?


Posted originally on Jan 3, 2024 By Martin Armstrong 

Powell_Unsustainable_12 1 23

Everyone wants to know what the Federal Reserve will do in 2024. Of course, people want to believe that the Fed will slash interest rates in the New Year. The pundits cling to every word except when, at the start of the month of December, Powell boldly criticized the Biden Administration, saying that his outrageous spending is “unsustainable” and central banks do not criticize their governments. They certainly do not criticize each other. I have met with the boards of central banks worldwide because I understand their predicament. Unless you have been behind those closed doors, you will never comprehend the intricacies that are taking place.

Federal Reserve Bank

The Federal Open Market Committee (FOMC) held rates at the 5.25% to 5.5% range at their last meeting in December 2023. Additionally, the committee indicated the possibility of at least three rate cuts in 2024, as their favored gauges for inflation appear to be easing. The “dot plot,” which reflects individual members’ expectations, suggests the potential for four rate cuts in 2025 and three more in 2026, bringing the rate down to between 2% and 2.25%. Now, that is simply what the public has been led to believe.

The Fed’s last decision reflects a cautious approach to policy tightening, considering multiple factors unknown to the public before any further adjustments. The committee’s PUBLIC decision and future outlook are based on the evolving economic conditions in relation to inflation and the labor market.

The Federal Open Market Committee will meet in 2024 as follows:

  • Jan. 30-31
  • Mar. 19-20
  • Apr. 30 – May 1
  • Jun. 11-12
  • Jul. 30-31
  • Sept. 17-18
  • Nov. 6-7
  •  Dec.  17-18
2023 Year End Report

There are simply things I cannot publish on the public blog. I have posted articles on the Socrates private blog that explain the Fed’s direction for 2024 in further detail. Now, consider the dates above and consider what events align with them. Further details will be provided in the Year-End Report, which should be out by the end of this week.

Federal Reserve 1951 Accord

The Federal Reserve cannot criticize the federal government. The most significant issues facing our economy are simply out of the Fed’s hands: war, taxation, and government spending. Chairman Jerome Powell surprised everyone when he called current government spending “unsustainable.” While not a direct criticism, Powell issued a stark warning that aligns with our Revolution Cycle of 72 years. In 1951, the central bank defied the US government by refusing to purchase debt to prevent rate hikes amid the Korean War.

So, there is bad news for the perpetual bulls who insist rates must decline. There is a HUGE divergence unfolding between short and long-term rates. Institutions are buying up government debt without considering the potential that rates may not fall. Absolutely no one is factoring in the largest driver of inflation – WAR – nor are they factoring in the three main pillars of government debauchery (war, taxation, government spending) that the Fed cannot control.

Jan 4 2024

Tucker Carlson Outlines Nikki Haley as Favored UniParty Operative – Vivek Ramaswamy Agrees


Posted originally on the CTH on January 3, 2024 | Sundance

The gist of the Tucker Carlson outlook is: You thought Democrats were going to dump Biden for Gavin Newsom, but they’re not. They’re backing Nikki Haley instead.

In this discussion segment Tucker Carlson and Vivek Ramaswamy outline how Nikki Haley is the perfect candidate for the administrative state in Washington DC. WATCH:

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