Posted originally on Aug 6, 2024 By Martin Armstrong
Massive riots have erupted across the UK following the tragic fatal stabbings of three young girls in Southport. The girls were attending a Taylor Swift-themed dance class when a cowardly 17-year-old male, born to Rwandan parents, attacked the innocent children. The law protects the murderer over the three innocent young girls, and this preventable attack may have been the final straw for the people of the UK. Tensions between citizens and migrants were already at a boiling point. Now, the UK government is calling protests against migrants “far-right thuggery” and looking to silence dissent.
I utterly condemn the far-right thuggery we have seen this weekend.
Be in no doubt: those who have participated in this violence will face the full force of the law. pic.twitter.com/uNeJtD8pCQ
Prime Minister Keir Starmer, a World Economic Forum favorite, believes the UK should revert to “COVID-style” restrictions to prevent rioting. “Back in Covid, they were prepared to back measures that were needed in that situation and I think they would take a similar approach to keeping rioters off the streets now given the scale of damage that has been done to communities,” Starmer said while adding that the government must take “whatever measures they feel is necessary to get this situation under control.”
The people are livid and the government is willing to do anything necessary to quiet them, other than addressing the real problem. Starmer’s government has sent dogs after protestors. He has allowed authorities to punish them in ways that they never punished those protesting against Israel or other far-left causes. Every headline calls the protestors “far-right extremists” and “anti-immigration Islamaphobes.” The international press would like the would to believe that the outrage is unjustified.
What about migrant reform and preventing illegals or those with no loyalty to the nation in which they reside from continually committing crimes? Why were these three little girls unsafe in the classroom? The people want answers but Starmer won’t provide them. These riots are rampant and passion-fueled. It is estimated that rioters have already caused between £200m and £500m in damages. Over 400 people have been arrested at the time of this writing.
It is unfortunate when the masses resort to violence to be heard, but the people of the UK have finally snapped after years of begging their elected officials to close the borders. Around 672,000 illegals entered the UK in 2023 alone, with 84,000 claiming asylum. The foreign-born population reached 14.5% by 2021, and has doubled since the beginning of the decade. The open border policy never faltered when Britain left the EU.
Nigel Farage is one of the only politicians in the UK to question what is happening in his country. “I just wonder whether the truth is being withheld from us. I don’t know the answer to that, but I think it is a fair and legitimate question,” Farage stated when the riots first began. He has condemned the riots but has at least acknowledged why the people are enraged. “The majority of our population can see the fracturing of our communities as a result of mass, uncontrolled immigration, whether legal or illegal,” Farage said. “Yet to attempt to debate this in the public arena leads to immediate howls of condemnation. A population explosion without integration was always going to end badly. I have said this for many years. We must have a more honest debate about these vital issues and give people the confidence that there are political solutions that are relevant to them. A recall of Parliament would be an appropriate start to this.”
England is hardly a Christian nation as the migrant crisis has permanently changed the landscape. In the United Kingdom, for example, Islam is the second-largest religion. In fact, Muhammad was the most popular name for baby boys born in the UK in 2023. The 2021 England and Wales Census marked the first time that less than half of the population (46.2%; 27.5 million people) identified as Christian. Christianity has fallen by 13.1% since the last census in 2011. The number of people abandoning religion entirely has continued to rise as well, with 37.2% (22.2 million people) declaring they do not believe in a God in 2021 compared to 25.2% (14.1 million people) ten years prior.
Pew Research Center believes that Muslim women will have more children than Christian women by 2035, and Islam could become the most followed religion in the world. There is nothing inherently wrong with the religion of course, but it is understandable that people want to maintain their own nation’s traditions, religion, and morals.
Home Office minister Lord Hanson has warned “far-right” rioters that they will be met with the full force of the law. Yet, no politician bothers to ask WHY the people are rioting. The headlines stating that these protests are a result of islamophobia are simply wrong. People no longer feel safe walking in major cities among the Build Back Better nations. Violent crimes, especially violent crimes against girls and women, are through the roof, and none of the politicians are protecting these innocent people. The Davos crowd now rules the UK, and they have every intention of keeping the borders open.
Posted originally on Aug 6, 2024 By Martin Armstrong
Americans are preparing for a prolonged inflationary period, based on new data from the New York Fed. The New York Federal Reserve’s Survey of Consumer Expectations found that Americans are still pessimistic about inflation waning, with no one now believing it is transitory. The median expectation is that inflation will remain at the 3% level in 2025.
The public does not anticipate inflation tapering off in a meaningful way in the years to come. The Federal Reserve is still honing in on that 2% target but the people have lost confidence in its ability to do so. Most Americans see inflation sitting at 2.9% in three years from now, up from the 2.4% estimate in January 2024. Even in five year’s time, the average consumer believes inflation will be above target at 2.6%.
The central bank believes they can meet that 2% target. Policymakers believe inflation will fall to 2.1% by 2025 before finally reaching 2% in 2026. Amid the sell off this week, Chicago Fed President Goolsbee came out and said that the central bank will simply “fix it” if the economy continues to deteriorate.
“The Fed’s job is very straightforward, maximize employment, stabilize prices and maintain financial stability. That’s what we’re going to do,” Goolsbee told CNBC. “We’re forward-looking about it. So if the conditions collectively start coming in like that on the through line, there’s deterioration on any of those parts, we’re going to fix it.”
Unfortunately, there is not much that the central bank can do to offset government’s suicidal fiscal policy. Remember, inflation was only 1.4% when Joe Biden took office – far beneath the Fed’s target. Inflation has risen as a direct result of fiscal policies under Bidenomics.
The Fed was unable to prevent policies that ended America’s energy independence. They were unable to stop the supply chain issues exacerbated by the pandemic. They cannot alter the weak jobs reports that are propped up by multiplying the public sector, which only detracts from overall GDP. The Federal Reserve cannot maintain diplomatic relations with America’s trade partners or prevent the likes of Japan and China from selling off US government debt. The millions of immigrants now subsidized by the taxpayers cannot be curtailed by Jerome Powell or the FOMC. Worst of all, war is the most powerful driver of inflation. The Federal Reserve can do absolutely nothing to prevent America from steering NATO into three potential battles. Our Treasury Secretary says we can afford numerous wars. The $35 trillion in government debt rises every day and those in the central bank simply KNOW that the government has no intention on paying it off – how could they?
Americans are rightfully pessimistic about the future of the economy. All the talking heads insist that the economy is thriving under Bidenomics, but we the people are living in a different reality. This is what happens when people lose trust in the government entirely.
US Treasury Secretary and establishment puppet Janet Yellen has denied the advice of her own advisors to encourage debanking practices. Twenty Republican Attorney Generals have reached out to Yellen to remind her that she is not permitted to impede with state laws to weaponize her department against the Democrat’s political opponents.
Florida Attorney General Ashley Moody declared US Treasury has “forsaken its statutory role and instead chosen to intervene on behalf of activists seeking to hijack the financial system for their political ends.”
This has been happening across the world, and instances of debanking for political purposes have reached new heights in 2024. In April, 15 AGs attempted to reach out to Bank of America over a “troubling financial pattern” of debanking Christian organizations. “Bank of America has a track record of de-banking religious organizations,”the letter states, followed by examples of banks suddenly freezing funds of Christians and churches without warning. Why? National security, of course.
Banks were instructed by government to search transactions for keywords such as “Trump” and “MAGA” to look for “domestic terrorists.” They asked banks to look for people who had purchased certain books such as religious texts. Purchased a gun? You’re a potential terrorist and threat to the government.
“The Treasury Department has once again forsaken its statutory role and instead chosen to intervene on behalf of activists seeking to hijack the financial system for their political ends. It is even more disappointing that the Treasury Department would use “national security” as cover for large banks’ abuse of power to achieve those ends,” the most recent letter claims.
All of our freedoms are revoked under the premise of “national security.” This would be akin to permitting the government to rob your house to protect you from intruders. There are state laws in place to protect the people but the federal government believes they can deny these protections in the name of national security. Florida’s HB 989, for example, is intended to protect consumers from discrimination. That law aims to protect gun manufacturers, the fossil fuel sector, religious organizations, and others who do not adhere with the BUILD BACK BETTER agenda from being denied the right to operate in America’s financial system. “No consumer or business should be denied services based on political beliefs or religious views or because of some arbitrary social credit score derived from ideological agendas,” the AGs added in their latest letter.
Again, this is a worldwide phenomenon of governments weaponizing banking institutions. The UN-backed Net-Zero Banking Alliance aims to jeopardize anyone not adhering to the climate change agenda financially. Over 144 banks have signed on board. I reported last year that abullion dealer I personally know suddenly had his credit lines revoked. Governments genuinely believe the people are underpaying taxes by at least 35%. They want to eliminate all financial hedges against government and financially cripple those who do not abide by the agenda.
Yet another reason why all governments must go digital. CBDCs will permit governments not only to track every sale and purchase, but it will give them the POWER to prevent purchases instantaneously.
Russia has announced that it will implement a digital ruble by next July. Moscow will begin using cryptocurrency for some foreign transactions to bypass sanctions and SWIFT. As of November 2024, Russia will permit crypto mining, so long as it is carried out under the watchful eye of the government.
The Bank of Russia will oversee crypto mining and overriding capabilities. The Russian government, alongside the central bank, will select mining pool participants and protocols. Gone are the days when anyone could seemingly anonymously mine crypto, as Russia is one of many nations that will begin to require complete government oversight.
Beginning on September 1, Moscow will attempt to use crypto for foreign settlements while creating a new electronic platform through the National Payment System (NPS) within the EPR framework. The central bank is already stating that it must monitor activities to “identify risks” relating to national security and terrorism. This is precisely why other nations will also begin closely examining crypto transactions to ensure that the government has the upper hand.
As for the digital ruble, all operations will go through the Russian central bank. All of the CBDC will be stored through the central bank, which they ensure is for citizens’ safety. Each digital ruble will carry a unique code, similar to a banknote, and people may transfer rubles from one digital wallet to another – all under the watchful eye of government. The decree for the digital ruble was signed into law last August, but authorities believe the average person will begin using it by 2025.
Bank of Russia head, Elvira Nabiullina, claims the digital ruble will be optional. “If they want – they’ll use it, if they don’t – they won’t. No one is forcing anybody to use the digital ruble,” Nabiullina said. Yet, what happens when the seller or buyer is only accepting digital rubles? There is some vague language about digital rubles having codes for specific usage to deter crime. Governments want control and there is no better way to control the people than usurping the money supply and what can be considered “money.”
Removing Russia from SWIFT prompted these actions. “Over 30 regulators are currently working on national digital currencies,” Olga Skorobogatova, the first deputy chairwoman of the Bank of Russia, reported. “I think that this speed, with which the regulators have delved into this field, speaks volumes about the fact that, in 5-7 years, several countries surely will step forward with their own national digital currencies. Then, we can discuss the questions of direct integration. In that case, we no longer need SWIFT, since these are different technological interactions.”
The move to CBDC was an inevitable next step. The International Monetary Fund developed a coin long ago and other nations have been working alongside their central banks for years. It will be easy for Moscow to force its citizens and businesses to make the switch as they’ve already been removed from SWIFT and have had their foreign assets frozen for simply residing in the wrong nation. There is a reasonable fear that their money is not safe.
The year 2025, one year away, will bring about the rise of countless CBDC. The ultimate goal is to create one centralized currency. We saw that it epically failed in Europe as those nations are now under the control of the One World European government, the unelected officials in Brussels who silence their own member states from dissenting. Yet to begin, nations will begin pushing for the use of digital currency before outright canceling “hard money” under the premise that they are protecting their citizens. In all actuality, the elite believes all the money in circulation belongs to them, and the only way to guarantee maximum taxation is to transition the people to a controllable, non-tangible monetary system.
Posted orriginally on Aug 1, 2024 By Martin Armstrong
Serving debt is the largest cost of Washington’s debt crisis; America currently spends $2.4 billion in daily interest fees alone. The debt and spending simply cannot keep up with what America is bringing in. The federal govt spent $658 billion on interest fees in 2023, a 38% jump from the $476 billion in servicing debt in 2022. That’s 2.4% of the entire national GDP spent on interest expenditures alone.
The Congressional Budget Office believes the US defense expenditures will reach $870 billion this year to put into perspective how wasteful these interest payments have become. The CBO also believes interest costs will spike to $892 billion by year-end, rising to $12.9 trillion by 2034. The previous high came in during 1996 at $468 billion.
The Peter G. Peterson Foundation broke the projected cost post 2032 to be $38,600 per American citizen. Not only is the US unable to pay this debt but those in government continue to spend TRILLIONS of dollars on programs that have not benefitted the people. This is one of the reasons that the US government is looking at a complete overhaul by the time we reach 2032 for it can not leave it for the next generation without consequences.
Posted originally on Aug 1, 2024 By Martin Armstrong
There has been so much disinformation and sensationalizing of Quantitative Easing that this has led to academic economists who lack any trading experience to propose Modern Monetary Theory for its seems nobody actually comprehends what the hell is really going on. Much of the problem stems from this ancient theory that if you increase the quantity of money, then inflation will follow. This all predates massive government debt.
Much of this Quantity Theory of Money has its origins in Sir Thomas Gresham (1518-1579), who represented the English Crown on the Amsterdam exchange. People would not lend money to England because Henry VIII was debasing the currency to be able to repay his loans. He confiscated the Catholic Church and started the Church of England all because he was broke and confiscated wealth from the Catholic Church in England. Gresham became an adviser to Henry VIII’s successor – Elizabeth I. Thus, Gresham’s Law became bad money drives out good money, or the undebased currency.
These theories, which even gave rise to Austrian Economics, were all pre-collateralized debt of governments. There was no such market for posting sovereign debt as collateral to borrow or trade in markets. The economic models all changed, but academics have never understood traders. Lacking that experience, you will never see the actual trends.
Where Gresham observes from trading that debasing the money caused higher quality money to be hoarded when the foreign exchange value between currencies was ENTIRELY based upon the metal content, John Law (1671-1729) was also a trader on the same floor of the Amsterdam Bourse. He observed what has become the theory of Supply and Demand. It took two traders to witness how the market moved to develop these ideas. Both men were self-taught since the field of Economics did not begin until 1902. Not even John Maynard Keynes nor Adam Smith held decrees in economics.
The other self-taught economist who was also a trader was none other than David Ricardo. At the tender age of just fourteen, David entered his father’s business, but in 1793, he set up his own operation and made a fortune as a trader on the London Stock Exchange. Ricardo’s most important work was Principles of Political Economy and Taxation (1817). This book deals with all the controversial questions of political economy at the time: value theory, economic growth, rent, etc.
His other works include The High Price of Bullion (1810), which was the origin of understanding deflation; David’s Essay on the Influence of a Low Price of Corn on the Profits of Stock (1815); Proposals for an Economical and Secure Currency (1816); and the Plan for a National Bank (1824).
Ricardo is most famous for his ‘Theory of Comparative Advantage’ and ‘Rent’, which effectively argued that, for example, Saudi Arabia could grow lettuce in a desert with tones of water that might cost $10 to grow when it can buy it for 50 cents elsewhere. Thus, a nation should exploit what it possesses with a Comparative Advantage rather than squander its resources and restrict free trade.
Quantitative Easing (QE) does not increase the Supply of Money—it is only a maturity swap. Today’s total money supply includes debt, unlike during the pre-19th century. This has erroneously given rise to Modern Monetary Theory, for they pointed to QE and said there was no inflation, so we could just print without repercussions. It was merely a swap of maturities when you finally realize that debt is now money that pays interest as paper money began during the Civil War.
When paper money stopped paying interest, the term “Greenback” emerged, meaning there was no interest payment schedule on the reverse, just green ink. Paper money began as essentially debt or bonds that circulated as cash.
If your Definition of Money is Wrong – So is Everything Else that Follows
Posted originally on Jul 31, 2024 By Martin Armstrong
The Fraser Institute conducted a study that found Canadians are experiencing the worst standard of living in the past 40 years. Conditions are beneath what was experienced during the 89 recession, the Great Recession, and even the early stages of the post-pandemic. What is going on in Canada?
Justin Trudeau uprooted Canada’s fiscal landscape and his policies have only further sunk Canada into a decline. I reported that household debt in Canada exceeds 100% of GDP. Government spending toppled $1 trillion in 2020 in response to the pandemic, decreasing only 7.8% to $969.5 billion the following year. Government spending toppled C$520.17 billion during Q1 of 2024 alone. Justin Trudeau is aiming to turn Canada into a “BUILD BACK BETTER” nation that operates not like a true capitalist society but like the unelected government-driven economy we see in the European Union.
Canada’s immigration policy has become a free-for-all, with its population reaching an all-time high this year after surpassing 41 million. Nearly all population growth (99.3%; 240,955 people) was solely attributed to migrants arriving in Canada. The taxpayers are expected to subsidize the lives of migrants and turn a blind eye to the drastic uptick in crime. Canada was once a safe nation with a high-trust society. Crime has risen by over 40% and the entire landscape of Canadian society is changing. These people are often living in squalor and there are not enough housing units or jobs for all migrants, let alone all Canadians.
Similar to the US, Justin Trudeau is boosting job postings by ramping up hiring in the public sector, which has grown by over 17% since 2019. For comparison, the private sector only grew by 4% during that same timeframe. The public sector simply does not add to the economy in any meaningful way. These tax-funded agencies simply multiply and deduct from overall GDP.
Similar to other Build Back Better nations, Canada has lost its edge in trade. The countless green initiatives have crippled entire sectors, and rising taxes have made it a less desirable place to conduct business. Canada experienced a 51.2% reduction in mining, oil, gas, and quarrying from 2014 to 2022, as one example. Business investments have decreased by a third under Trudeau, yet he continues to spend.
‘“Building back better” represents a shared vision for a sustainable and inclusive economic recovery that strengthens the middle class, creates more opportunities for hard working people to join it, and ensures people have good jobs and careers on both sides of the border. Our leaders also recognized the opportunity for clean growth driven by workers, communities, businesses, and innovation.”
These government leaders are utter failures who are incapable of implementing meaningful policies. They destroyed the world economy under COVID and then sought to BUILD BACK BETTER. Instead, they’ve driven away smart money and business, fostered an environment for rising crime, and decreased everyone’s quality of life with inflationary policies. It is time for the voters to wake up and realize that the people they put into office are directly responsible for their deteriorating economic situations.
COMMENT: It’s akin to a multi-billion marketing campaign
I have family in
UK, Sydney, and Galway, Ireland
All are getting “diversity” pushed. It’s like a weapon now to prevent unity, common heritage against govt
I made these for friends. The end game of diversity?
There will be OLYMPIC teams in 30 years!
RL
REPLY: The real purpose of this Diversity Equality Inclusion global marketing plan has NOTHING to do with caring about people. I think the racist label has greatly died down, for in our own company, we have every religion and race working together. Even this LGBQT movement disrespects everyone else and demands we change our pronouns, and it is offensive to them if we call our mother – “mother.” This excessive abuse creates discrimination when one group demands everyone else must change their actions that have no direct physical impact on them.
What made the United States the great melting pot and the largest economy in the world was DISCRIMINATION. It was fair, for whoever was the last off the boat was discriminated against until they learned English to get a job. There were violent incidences, like when the Irish came in during the Hard Times of the 1840s, that resurrected the old hatred of Catholics in Philadelphia by the English Protestants. However, the second generation all intermarried once they spoke the same language. Ask an American what they are; the typical response will be half Irish, half German – or whatever the combination might be.
This is George Soros’ Open Society agenda that neither respects human culture nor anything that makes us individuals. Like Garland, Blinkin, and Nuland, Soros immediately attacks any critic, calling them antisemitic rather than addressing the criticism. As the Atlanticwrote: “George Soros’s name has been used as an anti-Semitic, nationalist dog whistle.”
Soro’s mentor is Karl Popper (1902-1994), who wrote several books, including “The Poverty of Historicism,” which Popper wrote in New Zealand during World War II. Popper became fixated with this notion of destiny pushed by Hitler and others throughout history. In his “The Open Society and its Enemies,” he writes: “Historicism, which I have so far characterized only in a rather abstract way, can be well illustrated by one of the simplest and oldest of its forms, the doctrine of the chosen people.” Poper describes this “historicism” as follows:
It is widely believed that a truly scientific or philosophical attitude towards politics, and a deeper understanding of social life in general, must be based upon a contemplation and interpretation of human history. While the ordinary man takes the setting of his life and the importance of his personal experiences and petty struggles for granted, it is said that the social scientist or philosopher has to survey things from a higher plane. He sees the individual as a pawn, as a somewhat insignificant instrument in the general development of mankind. And he finds that the really important actors on the Stage of History are either the Great Nations and their Great Leaders, or perhaps the Great Classes, or the Great Ideas. However this may be, he will try to understand the meaning of the play which is performed on the Historical Stage; he will try to understand the laws of historical development. If he succeeds in this, he will, of course, be able to predict future developments. He might then put politics upon a solid basis, and give us practical advice by telling us which political actions are likely to succeed or likely to fail.
Popper became caught up in these claims of destiny, which blinded him to the actual driving forces behind society throughout the centuries and why kingdoms, empires, nations, and city-states always rise from nothing, reach a climax, and then disintegrate to dust, only to be buried in a common grave dug by history. In Edward Gibbon’s (1737-1794) Decline and Fall of the Roman Empire (1776), his final chapter tells us about two attendants to Pope Eugenius IV (1431-1447) who are sitting on top of the Capitoline Hill in Rome overlooking the Roman Forum. Poggius then comments upon the vicissitudes of fortune, which spares nothing and nobody while it buries empires, nations, and city-states in a common grave.
“Her primeval state, such as she -might–appear in a remote age, when Evander entertained the stranger of Troy, has been delineated by the fancy of Virgil. This Tarpeian rock was then a savage and solitary thicket; in the time of the poet, it was crowned with the golden roofs of a temple, the temple is overthrown, the gold has been pillaged, the wheel of Fortune has accomplished her revolution, and the sacred ground is again disfigured with thorns and brambles. The hill of the Capitol, on which we sit, was formerly the head of the Roman Empire, the citadel of the earth, the terror of kings; illustrated by the footsteps of so many triumphs, enriched with the spoils and tributes of so many nations. This spectacle of the world, how is it fallen! how changed! how defaced! The path of victory is obliterated by vines, and the benches of the senators are concealed by a dunghill. Cast your eyes on the Palatine hill, and seek among the shapeless and enormous fragments the marble theatre, the obelisks, the colossal statues, the porticos of Nero’s palace: survey the other hills of the city, the vacant space is interrupted only by ruins and gardens. The forum of the Roman people where they assembled to enact their laws and elect their magistrates, is now enclosed for the cultivation of pot-herbs, or thrown open for the reception of swine and buffaloes. The public and private edifices that were founded for eternity lie prostrate, naked, and broken, like the limbs of a mighty giant, and the ruin is the more visible from the stupendous relics that have survived the injuries of time and fortune.”
Popper rejected cycles because he was focused on these claims of destiny. That may have been the rhetoric of Hitler, but you do not focus your entire theory on trying to disprove such a claim. In the process, Popper never sought actually to identify why; no matter what form of government emerges, they are all buried in a common grave. Chancellor Merkel of Germany pushed economic theories based on the German false assumption that the hyperinflation took place BECAUSE of the printing of money when, in fact, it was the printing of money that was the response to the collapse in confidence of the Weimar Republic.
The Weimar Republic was born of the 1918 German Communist Revolution, during which the German communists even invited Russia to take Germany as part of their Communist Revolution in 1917. These Germans wanted to be part of this Marxist dream. Anyone in the right mind moves whatever wealth they have to other currencies. Then, in December 1922, the Weimar Government confiscated 10% of whatever assets you had in the bank to pay the reparation payments for losing the war.
This German distortion of historical events has poisoned the German economy ever since. It was the very reason why Hitler rose to power for the oppressive of the reparation payments that even Hohn Maynard Keynes warned was detrimental. However, the French had made reparation payments to Germany back in the 19th century, so they wanted retribution in the 20th century.
Even The Lyviathan by Thomas Hobbes (1588-1679) was deeply influenced by the English Civil War and the beheading of the King. In his Decline and Fall of the Roman Empire, Edward Gibbon (1737-1794) was also deeply influenced by the English Civil War between Protestants and Catholics. Consequently, he includes chapters on the rise of Islam and Christianity and attributes much of the cause behind the fall to religion and discord only because he saw that in Britain.
I find it very damaging when someone seeks to critique history based on current trends applied to different times. I have written before how William Penn named his city of Philadelphia based on the translation of the word “Philadelphos,” meaning “brotherly love.” That was not in a Christian sense; it referred to incest, where one married their sister, typically to keep the family wealth contained in the family. This was common in Egypt as well as Syria. This is my point. When looking at history, we MUST review it within the context of that period and NEVER apply our current experiences to their lack of understanding of their thinking and motives.
This was Popper’s great mistake in focusing on this claim of destiny, which was really a great sales slogan rather than a true economic trend. Popper may have wanted to improve the methods of the social sciences to promote peace, freedom, and prosperity, emulating the function of the natural sciences and technology to increase the earth’s productive capacity. However, his book’s central theme is his critique of the myth of historical destiny and historical determinism, that is, the idea that history is beyond human control.
There have been those who have recognized that the individual plays a key role, and this idea of government possessing the power to manipulate society, championed by Marx and Keynes, remains the very core of understanding the true nature of the economy. Carl Menger (1840-1921) is the founding father of the Austrian School of Economics, with his landmark “Principles of Economics,” published in 1871. There, Menger laid the intellectual framework for the subsequent Austrian scholars who followed him.
One of the book’s main themes is that the value of a good is not determined by factors that can be objectively determined (e.g., labor or material costs) but by subjective valuations of the object in question by individuals. As I explained to China when I was invited to help them transition to Capitalism, they were monitoring 249 varieties of tea. The question was, why is this one tea selling for about $5 in one place but $1 in another? I asked where its origin was, and that is where it happened to be $1. I elaborated that there were transportation costs first and secondly that someone would pay more for one tea than another because of personal preference.
In this sense, Carl Menger, Leon Walras, and William Stanley Jevonssaw that economics has a human element that goes beyond supply and demand. ‘Marginalist Revolution’ with Menger and Jevons was added to with elements by Walras, who proposed that the commodities’ relative marginal utilities determined relative prices of commodities and thus explained the discrepancy in the value of goods and services by reference to their secondary, or marginal, utility.
It was John Law (1671-1729), who was the father of the Supply and Demand theory he observed as a trader on the floor of the Amsterdam Bourse. However, Popper grossly overlooked the individual and that we are raised in a particular culture that forms our fundamental beliefs. You cannot have open borders and assume that everyone will assimilate into some homogenous society. Such a transition period of forced assimilation is highly violent and destructive.
Emperor Valens (364-378AD) allowed the Goths to cross the border, assuming that he could exploit them to build his army. They were trained in Roman tactics and then turned on the Emperor from inside the Roman Empire. Valens met his death on August 9th, 378 AD, in one of the greatest military catastrophes ever suffered by the Roman Legions – the Battle of Aadrianopolis. In this fateful battle to the death with the Goths, the legions of Rome were totally annihilated. The devastation and carnage was so vast that the body of the Emperor Valens was never recovered. This battle was one of the worst defeats Rome had ever suffered. Before, No one had ever destroyed the mighty legions of the Roman army while under the command of an Emperor himself.
So much for Soros & Popper’s Theory of an Open Society
Posted originally on the CTH on July 28, 2024 | Sundance
After a vile, degenerate and blasphemous opening ceremony to the Olympics in Paris France, on the first day of competition the region suffered a total power failure.
Well, almost a total power failure.
You see, in the top of the picture showing the blackout, you might notice one area completely unaffected. That is the Sacre Coeur Church, the Basilica of the Sacred Heart of Jesus.
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A loving God will not be mocked. The light of Jesus Christ can’t be overcome by the darkness of man.
Our faith is steadfast. God is in control.
🚨🇫🇷BREAKING: Power Outage Hits Paris 24h After Olympics Ceremony!
Parts of Paris are experiencing total blackouts tonight, the reason is still unknown. The first clip below shows the moment of the outage.
Power outage in Paris a day after France staged a degenerate opening ceremony of evil and mocked the Last Supper. Hallelujah. pic.twitter.com/vzgp9WQffN
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 