FBI Agent Peter Strzok Appears Before Congress for Deposition…


FBI Agent Peter Strzok appears before a joint house committee today for a closed hearing deposition.  Mr. Strzok will appear before an open congressional hearing to be scheduled later.  Today’s deposition is an opportunity to ask questions and get an “official record” of specific answers to multiple lines of inquiry.

Peter Strzok is at the center of four specifically known corrupt DOJ and FBI operations. 1) The Clinton exoneration operation. 2) The Trump investigation “Crossfire Hurricane”. 3) “Spygate”, and the abuse of the FISA court; and 4) The origin of the Mueller probe.

The deposition questioning is being directed from a hand-picked group of lawmakers.  Judiciary Committee Chairman Bob Goodlatte determined who will ask the questions.  One of the lawmakers selected was Jim Jordan.

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Cryptocurrencies Vulnerable to Hackers?


QUESTION: It certainly seems that the cryptocurrency world has its flaws and may even be worse than traditional bank accounts and credit cards. They keep getting hacked. So they are trying to defeat central banks but may be running into the arms of scammers and thieves. I read one guy even claimed Bitcoin would be the new reserve currency. I really do not understand these fools. How can Bitcoin become the reserve currency? Where does this really end?

EP

ANSWER: I really do not know. The dollar is the reserve currency BECAUSE it has a $20 trillion debt that is used globally to park money. Europe never created a single debt market and that is why the euro never managed to compete with the dollar. There is just no way Bitcoin can become the reserve currency. That is really la-la-land. Where does this end? The technology may be absorbed by governments and perhaps you end up with a single electronic currency for each country. As far as circumventing central banks and governments, they can shut it down whenever they want by simply declaring cryptocurrency is for criminals as Australia is trying to do with cash.

With respect to the hacking, well easy come easy go. For the second time in just a few days, hackers launched a raid on a South Korean cryptocurrency exchange. The hackers had captured in one night about €27 million euros, the trading platform Bithumb had to admit. This is number six worldwide in terms of trading volume for cryptocurrencies. Bithumb announced that it would compensate its users.

The prices of most cryptocurrencies fell after the second South Korean incident within a few weeks. Bitcoin, the largest cryptocurrency, fell 2% that day. These attacks are starting to wear down the cryptocurrency market, and we may yet see a decline further into July.

Italy will No Longer Recuse Migrant Ships from Libya


Italy will no longer rescue immigrants sailing from Libya. They have withdrawn their Italian Coast Guard and instructed captains of vessels that from now on, ships in the area off Libya should apply for help to the Libyan Coast Guard. Up to now, the Italian Coast Guard has played an important role in coordinating refugee rescue operations outside its own waters. According to Maritime Law, the coordinator of a rescue operation must provide the refugees with a safe haven. Italy will no longer provide that status off the coast of a foreign country. Ital began recusing ships back in 2015. Under Maritime Law, once they did that, they were obligated to give them shelter. Here back in 2015, they recused 1,000 but most of these are just men, not families with women and children.

Italy & Refugee Crisis


The Refugee Crisis in Europe is tearing it apart and all of this began with a unilateral decision by Merkel when her polls declined because of her tough policy on Greece. The refusal to compensate Italy and to demand they take in refugees but denies them the right to send them north proves the very point that I have been getting from Italy behind the curtain – they feel they are an occupied country.

Italy said it will seize two migrant rescue ships in the Mediterranean, as this refugee policy of the EU continues to worsen. We are up against politicians in Brussels and Germany who simply refuse to admit that they made serious mistakes. They fear that admitting that will ruin their personal careers so the entire European Union must suffer. Now the two German NGO ships carrying refugees who are really economic migrants looking for a free lunch “will be seized” to determine their legal status according to Italy.

The response from Italy comes on the heels of the insensitive remarks of French President Emmanuel Macron who called this the “leprosy” of anti-EU feeling, which is only angering the Italian populist government and the people. This is where this feeling that is related to me is building that they have NO SAY in the fate of their own country and they have simply become an occupied country as if they lost the war and Germany won.

Italy sparked the fresh round of discontent earlier this month when it refused to take in the Aquarius refugee ship, which was carrying 630 migrants rescued off the coast of North Africa. Malta also refused to accept the ship and so it went off to Spain. If Spain refuses, Greece, and Portugal, then perhaps the ships will go beyond the Pillars of Hercules and sail to France and Belgium so Brussels can be inundated itself. Perhaps then the policy will change.

2032 – How Hard Do We Fall?


 

QUESTION: Hi Martin,

First, I’d like to offer my condolences on your mother’s passing. It feels to me that you must take great satisfaction in the fact that she must have been very proud of your accomplishments, and what you are trying to do for the average person. To me, that is the ultimate goal of a child; in thanking their parents for everything they have done.

Concerning the blog entry of “Crash & Burn & The Sixth Wave”, you write that it all depends upon if we begin the process in 2021. My interpretation – having followed you for years now – is that the people must rise up and push back against higher taxation, and demand reform and/or it could hinge on the Euro breaking apart, which provides the path to follow for the rest of us.

I believe you meant that if the people just acquiesce and do nothing – like in 2008, then those in power continue to run the economy for their benefit, causing the social fabric to continue to be torn apart between 2021-2032, (which means continued record low birth rates, low productivity, record low levels of capex, record suicide rates, etc) until it finally crumbles by 2032, leading to civil unrest. Have I got this right?

Thanks again for everything that you do.

Danny

ANSWER: We have to understand that this will be the third such sequence of the Sixth Wave. At the end of the first sequence, we have civilization going into a Dark Age. That also coincided with the energy output of the sun declining and the massive volcanic eruption of Thera (Santorini), which ended the Minoan culture. That is when Mycenae invaded as well as the conquest of Troy. The last wave peaked in 175.35 AD, and after that we have the political unrest and collapse into 268 AD. I for one have a personal hope that we can avoid that outcome. In both cases, this is when the energy output of the sun dropped into a cold period where the Greeks became the sea people and migrated back to Africa. The second sequence saw the invasion of the barbarians as they moved south and overthrew the Roman Empire. The wall around Rome was not built until 270 AD. If we keep sticking our finger in a light socket and getting zapped, are we unable to learn from experience? The question in my mind is how hard will we land?

This is the cycle, it is NOT my “opinion” and I would prefer to point it out and say we can change the outcome if we understand the causes. There is no stopping the cycle. All I believe we are capable of doing is changing the degree of volatility. This is clearly the end of the West as a world economic power. The financial capital of the world will be shifting to China and Asia after 2032.

Even if we look at the hatred poured on Trump, this is indicative of how civilization collapses. It does not matter if you agree or disagree with Trump. This sort of hatred and the personal attacks, especially led by CNN, is so destructive I fear what comes AFTER Trump. There is absolutely NO POSSIBLE WAY that anyone who would really try to help the situation will come to power. CNN has guaranteed that nobody in the right mind would dare to be president. The only person will be a career politician who will NEVER look at the cycle. Instead, they will fill their pockets before they leave office. CNN loved Hillary. The Clintons stole a couch when they left the White House and had to return it. When you go to a hotel you might take all the soaps, but you do not leave with the bed.

If we do not realize what is happening, then yes, our own complacency will be our doom

Coming Crisis: Emerging Market Debt


QUESTION: Mr. Armstrong; Just to clarify, a continued rate hike in dollars will send Emerging Market debt into chaos and possibly default. Is this both public and private?

Thank you.

You are a voice in the wilderness

PK

ANSWER: Oh yes. Both public and private emerging market debt raised money in dollars. A 2% increase in interest rates could spark a sharp rise in the proportion of emerging market corporate debt issues at risk of default. This is true especially in Brazil, Turkey, and Indi

Merkel Extracted €2.9 billion in Interest from Greece


Angela Merkel promised the German people that she would not just hand Greeks money as she does with the refugee, no, she would make them pay dearly for allowing Goldman Sachs to structure deals to get them in the Eurozone. Indeed, she has kept her word. In response to a parliamentary question from the Green Party, the German government had to release figures which revealed that Merkel has acted more like a loan shark making €2.9 billion in interest payments on Greek bonds since 2010 despite the ECB moving rates negative. Merkel bought Greek government bonds as part of an EU deal to prop up the struggling Greek economy since 2010. The bonds were bought by the Bundesbank and then transferred to the federal treasury.

This certainly gives new meaning to the pictures of Greek citizens paying dearly for the shenanigans of politicians. The Protestant Reformation is where we draw the line with the birth of Capitalism. The reason we draw the line there is because previously, the Catholic Church had forbidden what Merkel has just done – exploit someone when they are down and out. It was called the Sin of Usury. You were supposed to “help” a fellow in his time of need. The Catholics would have been excommunicated if they engaged in banking. The Protestant Reformation was funded by wealthy Catholic merchants who wanted to compete with the Jews and enter the banking field. The Protestant Reformation thus did not adopt the Sin of Usury so Christians became bankers and could borrow as well as lend. That is where the economy began to be leveraged and this Capitalism was born.