Tag Archives: David Pristash

Dec 18 2019

One climate change scientist takes on a roomful of sceptics.


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Can one climate change scientist change the minds of a roomful of climate change sceptics? Insight: Tuesdays at 8:30pm on SBS ONE http://www.sbs.com.au/news/insight
Dec 18 2019

Global Cooling Warning to the President


Armstrong Economics Blog/Climate

Re-Posted Dec 18, 2019 by Martin Armstrong

On December 3, 1972, Brown University wrote to the president concerning the climate changing back to a potential Ice Age. Because our models have been divided by time, it is much easier to distinguish short-term changes in trend from the long-term.

What is fascinating is that even a decade of rising temperatures leads people to proclaim global warming. When you have five years of declining temperatures, they live in denial and proclaim the rising volatility is indicative of global warming. They offer no evidence of that because there is none. What we show is that climate has always changed and the next solar cycle points to the lowest in hundreds of years. The major broader trend is toward global cooling, which is far more dangerous for this is when crops fail and disease rises.

Certainly, we must be concerned that the rising level of activity in volcanic eruptions could lead to a volcanic winter and that would be very bad in the years ahead. If we see a major eruption on the level of 6+, you better start buying canned goods for the future for two of these events, even a year apart, would seriously cool the planet.

We have to look at climate data not just on a year to year basis. That is like looking at the Dow Jones Industrials for 10 days and then trying to forecast the long-term trend.

The major trend on a broader basis is moving toward a steep cooling trend. The few years that saw rising temperatures were nothing more than a three-day reaction in market terms on a daily chart.

The major concern remains the broader long-term trend. The activists are trying to use the climate to force socialism down the throats of society to take over the global economy. That agenda has been sold so well that they have distracted society from the real climate threat that is unfolding before our eyes. They keep pretending that this is part of CO2 and global warming entirely caused by humans. The planet has been going through these changes long before humans ever existed

Dec 17 2019

Italian Bank Still in Trouble


Armstrong Economics Blog/Banking Crisis

Posted Dec 17, 2019 by Martin Armstrong

Italy is again helping a troubled bank. The government approved an emergency ordinance to support the Volksbank Popolare di Bari on Sunday and provided grants of up to 900 million euros. Volksbank Popolare di Bari was founded in 1960 as a cooperative bank. However, funds from the Ministry of Finance will not go directly to the bank because of the no-bailout policy in Europe. Instead, the capital of the state development bank Banca del Mezzogiorno-Mediocredito Centrale (MCC) is to be increased and this combined with the deposit guarantee fund FITD. This new scheme is indirectly restructuring of the Volksbank Popolare di Bari.

In recent years, the Italian state has repeatedly had to bailout banks, including the Monte dei Paschi di Siena (MPS), which is the oldest bank in the world. Because of the long-standing economic downturn, the banks in Italy still have bad loans on the books because Europe refused to engage in a bailout as was the case in the United States. Instead, the ECB kept lowering rates in the hope that the banks would make up the losses. But the economy has never recovered beyond just superficial images. The bank’s losses have reached one billion euros. Prime Minister Giuseppe Conte reiterated on Sunday that everything will be done to protect savers and hold those responsible accountable, but those responsible are running the ECB.

Within the European Union, bank deposits up to 100,000 euros per customer are legally protected. In the case of Bari, however, according to press reports, there are around 70,000 small savers who have not invested their money in savings accounts but have invested in share certificates in the bank. These small shareholders could face total loss if the bank collapsed. This would also have serious social impacts in the Mezzogiorno region.

Obviously, our European readers should NOT own ANY bank stocks in Europe. Get out before you lose 100% in these bail-in actions.

Dec 17 2019

Central Banks Buying More Equities than Gold? Why?


Armstrong Economics Blog/Gold

Re-Posted Dec 17, 2019 by Martin Armstrong

QUESTION: Marty; It seems when Goldman Sachs makes a recommendation, it tends to be the kiss of death. They came out and said the stock market was going to crash at the end of 2017 just before it broke out. Now they are pitching gold but they have been the ones who controlled the warehouses. They are claiming the central banks are the buyers so that is an indication of a bull market. Any comments on Goldman’s analysis?

HC

ANSWER: Yes, it often seems to be the old trick that was played by the Salomon Brothers. Their analysts would be quoted widely touting to buy some bond and they were inevitably the sellers. Goldman said cash was king in November 2018, not stocks. Five of the top investors in 2018 all said the stock market would crash as reported in Money Magazine. Goldman was bearish if Trump won, as reported by the New York Times on October 31, 2016. Even Goldman Sachs told everyone to sell in 2019. This is the problem when you put out forecasts based upon fundamentals. They are just sophistry, for you can spin them any way you like. How many times have we heard a stock declines on positive news and the excuse is that the street was looking for better numbers.

Goldman Sachs’ new claim saying “gold’s strategic case still strong” pointing to central bank buying is highly questionable. It is a statement that seems to be a half-truth. Because the euro is paying a negative interest rate, the only way for central banks to diversify has been to buy gold and equities. Otherwise, all they have are dollars. There are people on the board at the European Central Bank proposing that they too begin to buy equities in Europe.

The amount of gold added to central bank portfolios was tiny in comparison to equities. They bought more than $1 trillion of equities in 2018. The central banks bought only about $57 billion of gold in the past 3 years. This story is very misleading. It makes it sound like gold is being bought because the banks know the dollar will crash. The truth is so far from the implications.

If you are going to pretend to make a forecast based upon fundamentals, then tell the FULL story and do not leave out the other parts

Dec 15 2019

The Glaring Engineering Mistake That Made Wind Turbines Inefficient | Massive Engineering Mistakes


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Scientists and engineers detail the glaring mistake that rendered wind farms inefficient and costly. Subscribe to Discovery UK for more great clips: http://www.youtube.com/subscription_c… Follow Discovery UK on Twitter: http://www.twitter.com/DiscoveryUK
Dec 15 2019

Ian Plimer GWPF Interview: The Climate Change Delusion and the Great Electricity Ripoff


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Benny Peiser talks to Ian Plimer about his new book, The Climate Change Delusion and the Great Electricity Ripoff’.
Dec 15 2019

Polar Bear Scare Unmasked: The Saga of a Toppled Global Warming Icon


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In spite of claims that polar bear populations are facing pressure from loss of Arctic summer sea ice, their numbers have in fact grown. In this short video, Dr. Susan Crockford summarises the evidence that polar bears are far more resiliant than has been assumed by those who have turned the animal into an icon of global warming.
Dec 15 2019

Earth is ‘not in a period of extinction’


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Geologist and earth scientist Ian Plimer says the globe is not facing a climate emergency, telling Sky News that “we are actually still living in an ice age.