Posted originally on Dec 19, 2024 by Martin Armstrong
No government agency will willingly surrender power once it is in their grasp. Every other nation has ONE REGULATORY body, yet the USA has the CFTC and the SEC, plus the Federal Reserve over banks. If you obey the laws of one, you go to jail with the other. This hurts American citizens, for they cannot avail themselves of a hedge fund, and they must decide what sector to invest in, which is why I provide Socrates covering everything.
I warned the government that we need to have one regulatory agency. The SEC and CFTC have different laws that contradict one another. This hurts investment greatly. Take the domestic investor who must choose between stocks, real estate, gold, etc. They make those decisions but that is what a hedge fund manager is supposed to do. Domestically, you cannot merge that, so you have the guy who says gold is the best, the guy who says stocks are the best, and so on. They’re akin to used car salesman.
The bond guys will say they are the best, and so will the commodity guy, the stock guy, and the gold seller. They will all swear they are the best. So now hedge funds are often forced offshore where the hedge fund manager makes those decisions on what is the best investment.
I turned down the opportunity to manage $60 billion because, by law, if I thought a stock would crash, I could hedge a max of 17%, so I said no, I won’t get involved and risk my reputation. You cannot hedge a portfolio when you know it is going to go down because of the nonsense in regulation. Gut those two agencies.
Any agency, once you create it, will always fight for its own survival like an animal. This situation simply does not provide the average American with the best fund management available.
Posted originally on the CTH on December 19, 2024 | Sundance
The 1,547 page “continuing resolution bill” is available for review HERE. They are calling this a “CR” (continuing resolution) bill to fund government. However, only approximately 10 pages (15 to 25) are the funding mechanism; the rest is a regulatory construct, an attempt to circumvent the Trump administration, and position the federal government to defend against structural changes President Trump is intending to initiate.
Within THE BILL, in an effort to force Republicans to support it, there is a section approximately 500 pages, that spends and directs $100 billion for disaster relief in Florida, Georgia, Tennessee and North Carolina following the devasting late season hurricanes. The disaster relief portion should be a stand-alone bill but is included in the massive omnibus spending package because it creates votes to support.
President Trump is well aware of the mechanics inside the Omnibus (CR) package and, together with Elon Musk, has announced his opposition to it.
President Trump is urging congress to pass only the portion of the bill that would tie up loose ends and keep government funded before he takes office next month. His direction is to raise the government’s borrowing authority –debt ceiling– and extending government funding.
Doing a short-term funding CR means lawmakers must strip out all the non-funding elements backed by Democrats. This would allow only Republicans to pass the bill. The stuff Democrats want would be removed. Currently the Democrats are aligned to support the bill and vote for it because the majority of the bill is toxic regulatory changes.
REUTERS – […] Democrats currently hold a majority in the Senate, and Democratic President Joe Biden remains in power until Trump takes office on Jan. 20.
The current bill would fund government agencies at current levels and provide $100 billion for disaster relief and $10 billion in farm aid. It also includes a wide range of unrelated provisions, such as a pay raise for lawmakers and a crackdown on hidden hotel fees.
Trump said Congress should limit the bill to temporary spending and disaster relief and also raise the national debt ceiling now before it comes to a head next year.
“Unless the Democrats terminate or substantially extend the Debt Ceiling now, I will fight ’till the end,” Trump said on his Truth Social (read more)
If the spending package is not complete the non-essential elements of the government will “shut down” a non-technical term that really means little in the grand scheme of things because congress has defined everything as ‘essential.’
The most foolish and inept thing ever done by Congressional Republicans was allowing our country to hit the debt ceiling in 2025. It was a mistake and is now something that must be addressed.
Meanwhile, Congress is considering a spending bill that would give sweetheart provisions for government censors and for Liz Cheney. The bill would make it easier to hide the records of the corrupt January 6 committee—which accomplished nothing for the American people and hid security failures that happened that day. This bill would also give Congress a pay increase while many Americans are struggling this Christmas.
Increasing the debt ceiling is not great but we’d rather do it on Biden’s watch. If Democrats won’t cooperate on the debt ceiling now, what makes anyone think they would do it in June during our administration? Let’s have this debate now. And we should pass a streamlined spending bill that doesn’t give Chuck Schumer and the Democrats everything they want.
Republicans want to support our farmers, pay for disaster relief, and set our country up for success in 2025. The only way to do that is with a temporary funding bill WITHOUT DEMOCRAT GIVEAWAYS combined with an increase in the debt ceiling. Anything else is a betrayal of our country.
Republicans must GET SMART and TOUGH. If Democrats threaten to shut down the government unless we give them everything they want, then CALL THEIR BLUFF. It is Schumer and Biden who are holding up aid to our farmers and disaster relief.
THIS CHAOS WOULD NOT BE HAPPENING IF WE HAD A REAL PRESIDENT. WE WILL IN 32 DAYS! (SOURCE)
Posted originally on Dec 18, 2024 by Martin Armstrong
A lot of people are fixed on what money is and presume somehow that a return to precious metals will solve the problem. Precious metals are for personal use. They have never prevented any society from systemic economic collapse. Do not confuse hoarding gold to preserve wealth with a gold standard. We had one with Bretton Woods. Governments printed and never adjusted the conversion ratio because they had to admit what they had done. The problem is not WHAT is money, the problem is regardless what money might be, politicians always spend more than what they have. The only practical solution is to eliminate the ability to borrow.
Debt has destroyed every empire, state, and city since the dawn of time. Hammurabi’s Legal Code created legal limits on interest, so borrowing was a problem from the dawn of civilization. The only solution to be realistic must address the outstanding debt while eliminating the capacity to borrow. Changing to a gold standard means the outstanding debt would be due then in gold. The bankers will love that. If we default, all pension funds will go to waste, and we will be looking at massive civil unrest.
We have to be practical. If we are going to follow dogma, you better dig a hole and don’t come out until the mushroom cloud subsides. This is real shit we are talking about! This is not an idealized theory. Every act will have an equal and opposite reaction.
I have stated many times that unemployment hit 25% during the Great Depression because of the Dust Bowl, and 40% of the civil workforce was employed in agriculture. We are at a similar risk today, but the 40% is in government, producing nothing toward national wealth, and are public servants because we pay them to produce nothing.
It is the implosion of state and local government, their inability to print into oblivion, that is the check against hyperinflation as they raise taxes and try desperately to hold on to their chiefdoms. Gold is for personal survival. Switching to gold does not address the debt, growing employment in government, the pensions, and our long-term survival.
So gold may help you survive personally as the economy switches to underground, but it will not address the decades of abuse suffered under Marxism. The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn (just being a little pregnant with Marxism).
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!
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