California Governor Gavin Newsom is deliberately worsening the supply chain crisis by implementing additional power-grab COVID restrictions. Workers in California now must stay home and quarantine for two weeks if they are exposed to COVID. It does not matter if they are vaccinated. It does not matter if they are vaccinated AND test negative. Some workplaces will allow “exposed” employees to return to work earlier, but they must wear a mask and remain six feet away from their coworkers and customers to let the public know they are potentially one of the diseased.
Around 40% of the nation’s imports arrive at California ports. If one worker is exposed to someone who contracted coronavirus, entire businesses could shut down. Social distancing in a warehouse or shipping yard would be nearly impossible, and this law will affect the entire economy by diminishing the ability to import/export. Governor Newsom’s anti-business policies have earned his state the title of having the highest unemployment rate in the country at 7.3%. How many businesses will need to flee the state of California before people stop voting for Newsom?
QUESTION: I found your comment on Pope Francis not being the “Peter the Roman” who is supposed to be the last Pope before the destruction of Rome. As you know, the text of Malachy came to light in 1595, in a book by Benedictine monk Arnold de Wyon. Malachy is said to have experienced a vision of future popes during a trip to Rome in 1139. He wrote down a series of 112 cryptic phrases that described each pope in turn. The text was said to have lain unnoticed in Rome’s archives until Wyon published it.
Pope John Paul II has been attributed to No. 110, “From the labor of the sun,” because he was born on the day of a solar eclipse and was entombed on the day of a solar eclipse as well. Then came Benedict XVI, No. 111, who is supposedly “glory of the olive” because some members of a branch of the monastic order founded by St. Benedict are known as Olivetans.
So that brings us to No. 112: “In the extreme persecution of the Holy Roman Church, there will sit … Peter the Roman, who will nourish the sheep in many tribulations; when they are finished, the city of seven hills will be destroyed, and the dreadful judge will judge his people. The end.” Can Socrates confirm or deny that Pope Francis will be the last Pope? Has it changed it mind given thsat Pope France is clearly in bed with Schwab and the WEF?
Curious
REPLY: I did not factor in prophecies into Socrates, for they are subjective and cannot be definitively used as scientific input. They fall into the category of BELIEF, which I cannot program. That said, many look at the forecasts of Socrates as being independent, and if they happen to line up with religious prophecies or even astrology, they are often used as interesting correlations by some. What is part of the economic cycle is that changes in religions indeed unfold with the model, for they are typically driven by the underlying economic conditions. For example, the persecution of the Christians took place BECAUSE Rome was collapsing and people blamed the Christians for making their gods angry by refusing to worship them.
Nevertheless, the Christians typically misrepresented other religions as paganism, whereas their view of their gods was never the same. They did not see them as their “creator” of the world or humans but more as mischievous super-beings who would torment humankind. For example, you would bring a gift and pray to Poseidon because you were about to sail someplace, and you were asking him for safe passage. He was never seen as anything more than being in charge of the ocean. So you brought him gifts hoping for calm seas.
The closest thing to the idea of one god was Sol Invictus which was a cult promoted from the East by Emperor Aurelian (270-275 AD) because this was when Rome was under siege by the barbarians. It was Aurelian who built the wall around Rome, which still stands today.
The name “Invictus” meant invincible, and it was his feast day, December 25, which eventually became the Christian Christmas. The promotion of Sol was the sun god, and he was invincible because he returned to the sky every day. This was intended to inspire hope and confidence that Rome would survive. Even the statue of Liberty has the same sun rays protruding from her head as was the case of picturing Sol.
Hence, changes in religion have always been linked to economics. There was this cult of Sol combined with Hercules, who was the son of Zeus and defender of humanity against evil. These concepts allowed many to convert to Christianity since it was not so radically different.
In this respect, religion has changed over time with the turning points in the model. Interestingly enough, most religions seem to have this idea of a battle between good and evil, which predates everything back to the Zoroasters, who were the three wise men to visit Jesus at birth. This is really why the visit of the three wise men was so significant, for it was an endorsement from antiquity. Yet most religions also had this idea of the last judgment and some even resurrection like the Egyptians. Among the Greeks, when you died, Zeus did not judge you, but he made a recommendation to the Three Fates who delivered the last judgment, and this is also why a panel in a court of appeals also has three judges.
There has been this common theme with variations throughout most religions. What is clear is that when the economy turns down hard and the end seems inevitable, you find major upheavals in religion throughout history, right down to the schism in both Christianity as well as Islam. To whatever extent our model may align with religion or even astrology, rest assured that neither are input into Socrates to make forecasts. Many have seen correlations, but I believe the driving force is always economic.
What we must understand is that Pope Francis is a Communist at heart. He was influenced by Archbishop Hélder Pessoa Câmara (1909–1999) of the Brazilian Catholic Church, who was a self-proclaimed Marxist. He was the Archbishop of Olinda and Recife between 1964 to 1985. He is not to be confused with Cardinal Jaime de Barros Câmara (1894–1971), who was elevated to the cardinalate in 1946 by Pope Pius XII. From 1962 to 1965, it was Cardinal Câmara attended the Second Vatican Council who was anti-communist and assisted Leo Joseph Suenens in delivering one of the closing messages of the Council delivered on December 8, 1965.
Archbishop Câmara disagreed with the church’s conclusion. He attended all four sessions of the Second Vatican Council and even played a very important role in drafting Gaudium et Spes. However, on November 16, 1965, Archbishop Câmara led 40 bishops who met at night secretly in the Catacombs of Domitilla outside Rome on the Via Appia Antica, which are spread over 17 kilometers underground. They signed a secret document under the title of the Pact of the Catacombs with 13 points that were inspired by Karl Marx. This small group of Marxist priests meeting in secret has been the beginning of an existential threat to our very future. Because South America has been unable to rise above Marxism, it has been part of the Catholic Church in that region to adopt the doctrine of the Pact of the Catacombs despite the fact it was never sanctioned by the Vatican until Pope Francis, who has practiced this distorted doctrine his whole life, for it focuses on material wealth rather than on the spiritual concerns for the soul. Section #10 of that Catacomb Pact reads:
“We will do our utmost so that those responsible for our government and for our public services make, and put into practice, laws, structures and social institutions required by justice and charity, equality and harmonic and holistic development of all men and women, and by this means bring about the advent of another social order, worthy of the sons and daughters of mankind and of God.” Paragraph 10 of the Catacombs Pact
The reason this obscure meeting was so important is that it was, according to Klaus Schwab, this doctrine that changed his life as he says in this next clip.
Indeed, Archbishop Câmara spoke at Davos in 1974. From that time onward, Schwab has been trying to influence world leaders and convince them it is time to adopt Marxism. Note, when Archbishop Câmara addressed the Davos meeting of capitalists, there was a time of economic crisis as well. This was the first major recession which exposed that the idea of Keynesianism proved incorrect. It was Paul Volcker who delivered his famous Rediscovery of the Business Cycle in 1979 stating.
“The Rediscovery of the Business Cycle – is a sign of the times. Not much more than a decade ago, in what now seems a more innocent age, the ‘New Economics’ had become orthodoxy. Its basic tenet, repeated in similar words in speech after speech, in article after article, was described by one of its leaders as ‘the conviction that business cycles were not inevitable, that government policy could and should keep the economy close to a path of steady real growth at a constant target rate of unemployment.”
Câmara, who was apparently the most influential person in Schwab’s life, was an advocate of liberation theology, which is a theory that emphasizing the liberation of the oppressed must be the objective. The foundation is Marxism engaging socio-economic analyses, rather than theology, pushing economic materialism rather than spiritual objectives. It argues for the social concern for the poor and political liberation for oppressed peoples whereby its core is “inequality” materially claimed to be driven by race or caste rather than ability. Câmara admittedly is famous for saying: “When I give food to the poor, they call me a saint. When I ask why they are poor, they call me a communist.”
I do not see Pope Francis making it to 2032. I am not sure if Pope Francis is “Peter the Roman.” Still, there is a serious risk that he may bring the Catholic Church to a major tribulation, as they say, because he is really abandoning religion and advocating communism. Interestingly, Jorge Mario Bergoglio became Pope Francis on March 13, 2013, when he was named the 266th pope of the Roman Catholic Church. He did not take the name of Peter, and he is not from Italy. His papal title was taken after St. Francis of Assisi of Italy. Becoming Pope on March 13, 2013, was spot on for a 51.6 years wave, beginning with the signing of that secret Pact of the Catacombs.
Therefore, if I look at this from a purely mathematical perspective, 266 divided by 8.6 is 30.9. Consequently, my concern would be for the next pope which would be a derivative of pi. Since the model projects that Schwab will fail, for Marxism is against human nature and even the Ten Commandments, it would not surprise me if there is an upheaval in the church and that the next Pope will be a reaction to the material doctrines of Pope Francis who is fully cooperating with Schwab. I do not see how Pope Francis’ support for the Pact of the Catacombs does not violate everything the church has stood for through the past 265 popes. Ironically, there were 148 emperors/caesars until the fall of Rome, which was 17.2 x 8.6.
Schwab also says in this clip that he was the first to develop stakeholder economics. That is simply not true. That was an idea that surfaced during the Great Depression, which became obsolete when Roosevelt came to office with the New Deal. This idea was that corporations had a duty to society during a period when there were NO social programs whatsoever. From what I can tell, both stakeholder economics and this Great Reset, where you will own nothing and be happy, come from the Pact of the Catacombs. Indeed, Schwab invited Pope Francis to speak at Davos in January 2014, just after he was made pope, displaying he knew they shared the same economic philosophy. The pope talks more about the economy and “inequality” than he does about salvation.
Armstrong Economics Blog/Great Reset Re-Posted Dec 19, 2021 by Martin Armstrong
Sen. Joe Manchin has announced that he won’t support President Joe Biden’s Build Back Better package. The West Virginia Democrat, who has tried negotiating with the White House on the massive social spending bill, has said that he is a no vote on the legislation.
“I cannot vote to continue with this piece of legislation. I just can’t. I’ve tried everything humanly possible. I can’t get there,” Manchin said. “This is a no.”
The Build Back Better Act is far more than the president’s signature domestic policy bill or the wish-list of the AOC progressives/communists. While his bill narrowly passed the House last month over the unanimous opposition of Republicans, this near $2 trillion spending spree which is totally uncalled for as some stimulus plan for the economy, includes a number of progressive priorities, such as free preschool, major climate change initiatives and extending the child tax credit. But with that money for free preschool comes federal strings attached as to the theories that will be taught to children too young to understand they are being brainwashed which was precisely the objective of Communism behind the Berlin Wall.
The amount of spending with the combined Infrastructure Bill and this Build Back Better agenda which is fashioned by the World Economic Forum to further Marxism which may yet be called Schwabism is so irresponsible when the economy is NOT in a Great Depression. Not even John Maynard Keynes ever advocated such a spending spree when the economy was not in a Depression. It has been this type of fiscal mismanagement that is bringing down Western Civilization for the AOC progressives hate anyone who creates jobs and thinks the government is the source of all radiance – not the private sector nor the sun as the source of any global warming.
This Build Back Better agenda was floated at Davos in January 2019. It was an agenda sold to world leaders because of the sovereign debt crisis and this spending spree is in preparation of simply defaulting on all government debt. They have the perfect president who is clueless that he is the knife being used to assist the United States to commit suicide with its own Constitution.
Part of this agenda that is being pitched by Schwab that you will own nothing and be happy is a clever ploy to make you think they are wiping out all debt and this is really for you. This agenda is driven by the fact that governments can no longer continue to borrow year after year with no intention of ever repaying. The entire Keynesian Model is collapsing before our eyes.
Thank God for Joe Manchin for he is the only Democrat rejecting this directive coming from Klaus Schwab. The Democrats look at the progressive promises and think that this will buy their votes for 2022. But then what? Do they then create Build Back Better 2.0 for 2024 and increase the spending by $5 trillion? These politicians cannot look past the immediate moment and the personal self-interest. What are they doing to the nation and the future? To hell with the nation!
What about the agenda of indoctrination attached to preschool? Even the Critical Race Theory teaching that white are inherently racists is undermining civilization which is the result of everyone coming together for their mutual benefit. Dividing society by race and religion is to ensure the people will never ban together against the government. This is how tyranny flourishes. They know how to do it for the only history they refer to is how to suppress the people for their own self-interest.
There is nothing they do not twist around for personal agendas. Slavery in the United States began with whites from England being sentenced to indentured servitude for even shoplifting an apple. The Constitution expressly forbids indentured servitude. The English Crown sold you to the highest bidder. Law became profitable to punish people they could then sell for labor to Plantations in America. Ben Franklin objected and said how you England like it if they bagged all the rattlesnakes and shipped them to England? Only when the American Revolution began did England then send their criminal to Australia. Many people who also wanted to get a new life, intentionally committed a minor offense to get free passage to the New World.
The abuse of this WOKE movement is the lack of any historical research. They simply said Jefferson owned slaves to justify removing his statue. But he inherited the slaves and he was the one against slavery and created the political storm by inserting in the Declaration of Independence that “all” men were created equal. They fail to understand that one could not just free his slaves at that point in time for there was no employment or a local Starbucks and they would own no property to even grow their own food. Jefferson was the inspiration behind the whole anti-Slavery movement. When in 1861 Russia abolished serfdom, the people owned nothing. That is what led to the Russian Revolution which first began in 1905.
Thomas Jefferson’s words: “We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.” Jefferson’s views on black Americans and slavery were very clear that he undoubtedly hated slavery and believed that the self-evident truths he had set forth in 1776 ought eventually to doom the institution in the United States.
The majority of states, including New York, were slave states. It was NOT a North v South issue at that time. But the slavery had begun as indentured servitude. To now fault Jefferson simply because he owned slaves in a system that was slave-based to diminish the shortage of labor in a new world, is to ignore the history and a man who was bucking the establishment of his time. Tearing down his statue because of slavery or that of Christopher Columbus who did not create slavery 300 years later only shows the ignorance behind this agenda. Columbus believed he landed in India.
It was Amerigo Vespucci (1451-1512) who America is named after for he is the one who figured out it was a new continent. Yet they tear down statues of Columbus and the day named in his honor October 12, 1492, Biden declared Oct. 11 as Indigenous Peoples’ Day when no Indigenous people were made slaves. European settlers invaded their lands. So to rectify that, all whites should just be deported to where their families came from?
Also ignored was the legal justification for slavery that not merely extended into ancient times, but also explains why the Dutch imported black slaves from Africa when there was an ample supply of Indians in America who could have been less expensive to turn into slaves. A slave was legal as the spoils of war. Rome sold all the inhabitants of Carthage into slavery finally to end their Punic wars with Carthage. The “Slavic” ethnicity of the Balkans means “slave” for they were often the source for slaves from war. Since the American Indians were not the spoils of war, it was legally and religiously forbidden to take them as slaves.
The Dutch were buying the Africans from other Africans who told the Dutch they were the spoils of war to satisfy the legal and religious distinction for a slave. Thus, the Africans were imported as slaves to replace the white trade in criminal labor from England.
In Ancient Times, Africans trained elephants and participated in battles as mercenaries. They would ride the elephants they trained during the Punic Wars. They were not slaves for they were not the spoils of war.
The problem with Critical Race Theory is simply that it ignores history and implies that it is white against all people of color without ever explaining what the American Indians were excluded from slavery. This has set off a serious crisis where they have sought to even teach Critical Race Theory in Britain where the same issues of slavery did not exist. The Critical Race Theory has even emerged on the floor of Parliament.
This entire agenda of Critical Race Theory is dividing the country, which is precisely opposite of what is needed to reduce civil unrest. This is all about retribution for previous generations when history is even distorted. It certainly appears that this is intended to divide the people to prevent a unified uprising against the government as it moves down this path of the Great Reset and Sovereign Debt Default.
Senator Manchin is the ONLY Democrat willing to defend his country against this foreign invasion to transform the world into the dream of Klaus Schwab, who is very much a control freak the very same type of character as Bill Gates.
Posted originally on the conservative tree house on December 19, 2021 | Sundance | 336 Comments
Immediately following the statements by West Virginia Senator Joe Manchin, earlier today, which effectively ends the Senate Build Back Better bill, the White House releases a lengthy statement [READ HERE] blasting Senator Manchin and releasing the leftist hounds from Hell upon him.
This reaction from the White House is exactly what the communist Democrats do whenever they are rebuked. We should anticipate the extremely angry Biden administration will retaliate with even stronger economic punishment against all Americans this Tuesday.
WHITE HOUSE – “Senator Manchin’s comments this morning on FOX are at odds with his discussions this week with the President, with White House staff, and with his own public utterances. Weeks ago, Senator Manchin committed to the President, at his home in Wilmington, to support the Build Back Better framework that the President then subsequently announced. Senator Manchin pledged repeatedly to negotiate on finalizing that framework “in good faith.”
On Tuesday of this week, Senator Manchin came to the White House and submitted—to the President, in person, directly—a written outline for a Build Back Better bill that was the same size and scope as the President’s framework, and covered many of the same priorities. While that framework was missing key priorities, we believed it could lead to a compromise acceptable to all. Senator Manchin promised to continue conversations in the days ahead, and to work with us to reach that common ground. If his comments on FOX and written statement indicate an end to that effort, they represent a sudden and inexplicable reversal in his position, and a breach of his commitments to the President and the Senator’s colleagues in the House and Senate.
Senator Manchin claims that this change of position is related to inflation, but the think tank he often cites on Build Back Better—the Penn Wharton Budget Institute—issued a report less than 48 hours ago that noted the Build Back Better Act will have virtually no impact on inflation in the short term, and, in the long run, the policies it includes will ease inflationary pressures. Many leading economists with whom Senator Manchin frequently consults also support Build Back Better.
Build Back Better lowers costs that families pay. It will reduce what families pay for child care. It will reduce what they pay for prescription drugs. It will lower health care premiums. And it puts a tax cut in the pockets of families with kids. If someone is concerned about the impact that higher prices are having on families, this bill gives them a break.
Senator Manchin cited deficit concerns in his statement. But the plan is fully paid for, is the most fiscally responsible major bill that Congress has considered in years, and reduces the deficit in the long run. The Congressional Budget Office report that the Senator cites analyzed an unfunded extension of Build Back Better. That’s not what the President has proposed, not the bill the Senate would vote on, and not what the President would support. Senator Manchin knows that: The President has told him that repeatedly, including this week, face to face.
Likewise, Senator Manchin’s statement about the climate provisions in Build Back Better are wrong. Build Back Better will produce a job-creating clean energy future for this country—including West Virginia.
Just as Senator Manchin reversed his position on Build Back Better this morning, we will continue to press him to see if he will reverse his position yet again, to honor his prior commitments and be true to his word. (read more)
Posted originally on the conservative tree house on December 19, 2021 | Sundance | 172 Comments
Interesting choice of media outlets for his final nail delivery. Senator Joe Manchin (D-WV) appears on Fox News to confirm the Build Back Better negotiations are done, and he’s done, and the $4.5 trillion legislation is dead. During the expanded explanation by Senator Manchin, he points to two primary issues with the bill.
First, it is a massive takeover of the U.S. economy, and the basic outline of the bill details never changed. The ‘negotiations‘ that were taking place amounted to the White House putting an ever shorter end date on the legislation. The Senate was giving the appearance of a lower cost by shifting the sunset clause; however, from beginning to end the scope of the legislation never changed.
Second, the issue of inflation has been created by Joe Biden policy. Regulations, energy policy, monetary policy, reckless fiscal policy and massive spending have led to massive inflation. Manchin explains how inflation is not sustainable for his constituents in West Virginia.
In my opinion, Manchin is positioning himself for a Democrat presidential race.
It is not coincidental that Manchin makes this statement today, on Fox News, as polling shows massive drops in support for Joe Biden. Manchin knows he is sitting in a spotlight of an inflection point. Manchin is politically astute and cunning to the ways of politics. Manchin comes across as meek and mild-tempered, a man of reasonable disposition… but that doesn’t accurately portray his cunning. This is his chance to make a big move.
Senator Joe Manchin also knows that Democrats are going to implode, as the Obama allied communist puppet masters behind Biden have a one term agenda to exploit their control over the dementia patient currently occupying the White House. Manchin knows the collapse of the Democrat Party is his opportunity. He also knows THE REALITY behind the released Marist Poll [data here] showing a majority of non-communist Democrats want nothing to do with the senile occupant of the White House.
Manchin is again making a BIG club move by positioning himself as reasonable right now.
Manchin is testing his strength.
Manchin will likely be the #1 contender in 2024, and he knows it.
Manchin is cunning.
Manchin is not only reaching out to ‘moderate’ registered Democrats….
Manchin is reaching the minds of registered Republicans.
Armstrong Economics Blog/Civil Unrest Re-Posted Dec 19, 2021 by Martin Armstrong
The Iranian government is threatening to impose sanctions on the United States due to its mistreatment of black Americans. “Human rights experts confirmed that police brutality in the US against people of color especially, African-Americans, should be considered systemic racism,” Secretary-General of Iran’s Human Rights Office Kazem Gharibabadi. Gharibabadi cited the ever-growing Black Lives Matter Movement and the death of George Floyd for their reasoning. The news comes just days after Secretary of State Antony Blinken stated that the US would place sanctions on over a dozen Iranian and Syrian officials for their own human rights abuses.
Other countries are looking (and laughing) at America for our woke movements that have led to no significant changes in policy – at least not for the better. Some cities defunded the police, and now they are experiencing a swift increase in violent crimes, including murder. Certain woke cities told police to turn a blind eye to petty theft, and now countless stores have been robbed blind. The head of the Los Angeles Police Department recently told tourists not to visit, “We can’t guarantee your safety.”
Race-baiting to divide the country has been successful to the point that it has reached the international stage. They know that America is crumbling from within, vulnerable to international threats. Divided we fall.
QUESTION: Marty; would you comment on David Stockman’s assistance that the fundamental consequence of 30 years of Fed-fueled financial asset inflation is that the prices of stocks and bonds have way overshot the mark.
Thank you
HW
ANSWER: David Stockman was the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan. He is very old-school and such a statement in economics is like pretending we are still in the world of horse & buggies and you must pull your new-fangled car off the road if it frightens the horses.
The statement presumes everything in the economy is driven exclusively by domestic events. It’s not his fault. They still teach these theories in universities. It is all based upon the old world of Austrian Economics which dates back to when the exchange rate among nations was based solely on the metal content of their coinage. At this point in economic history, no single nation truly provided the dominant monetary system. There were coins that emerged such as the Anglo-Saxon sceats. But they did not carry a premium because of their economic power.
It wasn’t until the 8th century that the French developed the silver denier copying the Roman silver denarius. This became the main coinage of Europe. But once again, it did not carry a premium because of its economic power.
We find that the English King Offa copied the French and created what became known as the English silver penny. This really established forex exchange rates based entirely upon the metal content.
By the 13th century, this is where we begin to see the dominant gold florin of Florence become the more recognized high-value denomination that became a recognized monetary unit of Europe. Other nations then began to issue imitations of the gold florin.
The German bankers, the Fuggers, emerged as the leading Augsburg merchant-banker, who then provided loans to local rulers secured with the produce of their mines. Eventually, by 1525, the Joachimsthaler of the Kingdom of Bohemia was the first thaler ideally with a weight of 31 grams or one troy ounce.
We can see that 600 years later, England issued a silver Florin which represented 24 pence. Florence achieved its independence in 1250 and began to issue the first gold coin for Europe post-Dark Age. The gold Florin was worth 20 silver Grosso. So we can see the gradual inflation whereby the 19th century an English Florin was 24 pence. Equivalent in value of the English Florin was 10 Florins equaled a pound. Even the Hungarian Forint was a reference to the gold Florin of Florence, home of the Medici bank.
The wealth of Spain was consumed by Europe but it did not become the dominant currency. In America, the Spanish coinage became dominant and the one-ounce silver coin modeled on the Thaler (8 reales) became the model for the US dollar which was a rejection of the British monetary system.
The Austrian School was based upon Gresham’s Law whereby the debasement of the coinage of Henry VIII drove the higher silver content coinage out of circulation. These ideas were entrenched in a period where there was no dominant financial capital of the world. What is missing from this view of money is that of the economic power of the state.
There are “imitations” of ancient Greek and Roman coins where the metal content is on par and sometimes even heavier. This proves that gold in the form of a Roman coin carried a premium to simply raw gold or had that peripheral state-issued gold or silver coinage in its own name.
Here we have an Athenian Silver Tetradrachm which became a world currency imitated by Egypt for external trade when Egypt did not issue their own coinage until they were conquered by Alexander the Great.
It was the British pound that emerged as the dominant world currency because of its economic power and imperialism. We then find bonds issued by even China in British pounds just as today nations issue debt in US dollars denominations.
Even the Celts of Europe imitated the coinage of Macedonia. What is missing from the entire Austrian School is that a currency can emerge to be worth more than its metal content based upon its economic power.
Today, in the realm of paper money, fiat is no longer a viable theory. Japan, Germany, and China, all rose from the ashes to become major world economies without gold or tangible resources. What has emerged is the value of a currency is based upon the economic productivity of a nation. That is what backs a currency – nothing else. This Keynesian view of interest rates and money supply are no longer key factors when the dollar is used around the world and even 70% of the paper dollars circulate outside the USA.
The rise in the stock market has NOTHING to do with this nonsense of the Fed. This statement entirely ignores the fiscal spending that the Fed cannot control. Capital rushes around the world and concentrates at times in a country for a profit. When it does, it increases the domestic money supply when a foreigner buys stocks, bonds, or property in your country.
The Roaring Twenties took place BECAUSE of World War I. The capital fled Europe seeking safe harbor in the USA. That increased the dollar and dollar investments. The inflows peak with the peak in real estate in 1927.
So sorry! This idea that the market is up solely because of the creation of money is just absurd. The propaganda of the socialists that capitalism was evil following the Great Depression, which they did not understand, led to investment concentrating on bonds and the Take-Over Boom of the 1980s which I was blamed for advising takeover buyers based on these charts that showed the low in the book value in 1977. Yes, I was advising several takeover tycoons. If you could buy a company, sell its assets, and triple your money, obviously the market was way undervalued following the end of the Public Wave in 1985.
We have to look at the entire world – not just isolated domestic policy.
Posted originally on the conservative tree house on December 18, 2021 | Sundance | 142 Comments
Interesting short segment from Sky News interviewing the smiling U.K. Health Minister Gillian Keegan about the intense U.K. response to the Omicron variant and the new restrictions announced by government officials. Great Britain is preparing for hundreds-of-thousands of Omicron cases.
Video prompted to 05:42 just watch for around 45 seconds. No commentary from me needed. WATCH:
We really have desperate need of independent investigation of both government and Facebook. But the likelihood of an honest investigation is up there with admitting that climate always changes and there is no global warming. The Office of Inspector General is really the ONLY hope of ever having anyone investigate the government. People ask all the time what can we do? The Biden Administration is as corrupt as it can possibly be and I am not talking about Biden and his family. I believe they use that to ensure that they get to do whatever they want and Biden will look the other way or find himself and id son the first criminally charged President in history.
The Office of Inspector General should be inundated with demand to investigate the connection between BigPharma, the government, and the fact-checkers of Facebook who are costing people’s lives. One of the more respected medical journals that called into question Pfizer’s questionable trial data had their articles black-listed by Facebook. Anything that questions this agenda is black-listed. There is something seriously wrong here and the corruption runs very deep. Without overthrowing the Biden Administration, there is ZERO chance of the Department of Justice doing anything to protect the people against this corruption.
The head of the LA Police Protective League, Jamie McBride, has issued a strong warning to tourists — do not visit Los Angeles. After successfully defunding the police, the city has become rampant with crime. “We can’t guarantee your safety. It is really, really out of control. I said it to people before, it’s like that movie ‘Purge,’ you know, instead of 24 hours to commit your crime, these people have 365 days to commit whatever they want,” McBride said.
In October, homicides in the city had increased by 17%. “They’re compounding,” Moore said of city killings. “Homicides are up 17%, and people will say, ‘Well, many other cities are actually higher.’ But when we look over a two-year period, they’re up 49%.” During the same period, there had been 1,202 shooting victims, marking a 20% increase from the same period a year prior, and a 50% increase from 2019.
Los Angeles is one of many US cities facing a surge in crime. The politicians who feel it is unnecessary to fund police departments drive around with heavily armed security guards in bulletproof cars. Resources need to be allocated to stop this rise in VIOLENT crimes across the nation.
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
Centinel2012 