Posted originally on Feb 14, 2025 by Martin Armstrong
QUESTION: Why are you not at Dubai’s annual World Governments Summit? I have seen you walking out of the central bank in Abu Dabi. Are they just another Davos? If they do not invite you, something is wrong.
JFG
ANSWER: I am not part of that crowd. Yes, they are more of the establishment Davos-like gathering. They are not interested in reality. They certainly do not want to hear me talk about capital flows and the sovereign debt crisis on stage for the world to listen to. What we discuss in private meetings is not for general mass publication. As I have said, this is a confidence game. What they put on is just a dog-and-pony show. You do not air out your dirty laundry in public. It takes a crisis for that to happen. What Musk is doing is that, and perhaps what he accomplishes is far more than merely closing down agencies. He is exposing the corruption, which is what 2032 is all about. These gatherings are pretending nothing is wrong, and they are in control
Posted originally on Feb 14, 2025 by Martin Armstrong
An economist has made headlines for suggesting that Canada unite with the European Union bloc. Could Canada become the 28th member state? Absolutely not.
The very idea that Canada would consider joining the European Union and abandoning the Canadian dollar for the euro is sheer economic insanity. To throw away its sovereignty and monetary independence in favor of the European Union—an entity in economic decline—would be a move that history would mark as an outright betrayal of the nation’s future.
The Maastricht Treaty of 1992 prohibits non-European nations from joining. Article 49 known as the Treaty of the European Union or the Treaty of Lisbon states that EU membership is for EU nations. Canada, geographically and economically, is tied to the United States and North America. Morocco put this treaty to the test in 1987 when it requested membership. The European Council ruled that Morocco was simply not a European country. Canada, like Morocco, cannot point to French ties as a reason to be considered European, nor would most Canadians want to.
For decades, I have warned that the European Union is nothing more than an authoritarian construct designed to strip nations of their sovereignty under the false pretense of economic unity. The reality is the opposite—nations that have joined the EU have lost control over their economies, their tax policies, and even their ability to govern in their own national interests.
If Canada were to abandon the Canadian dollar and adopt the euro, it would hand over control of its economic fate to unelected bureaucrats in Brussels who have already driven Europe into negative growth with failed policies.
The inability of these nations to control their own currency has led to permanent economic stagnation. The European Central Bank (ECB) dictates monetary policy for the entire eurozone, and it does so based on Germany and France’s needs, not the broader interests of individual member states. Canada would absorb the debt of other nations in addition to its own debt that has been rising C$878 per second.
Unlike the Canadian dollar, which is backed by Canada’s ability to print money and manage its own monetary policy, the euro is a debt-backed currency. The entire EU system is built upon the forced cooperation of nations with vastly different economic structures, which is why it has failed to produce real economic growth.
Capital would flee Canada as investors would see even the mere request of membership as a sign that the government had no long-term strategy. Canada is already struggling with high taxation, an ousted prime minister, and has become deeply involved in every globalist alliance from NATO to the United Nations. By tying itself to Europe, Canada would not only lose investment but would push corporations and wealth holders to relocate to the US where monetary policy is more predictable.
Posted originally on Feb 3, 2025 by Martin Armstrong
Conservative Leader Pierre Poilievre, who is widely considered one of the Globalists, proposed deporting illegal migrants who commit crimes. Why this is controversial is beyond me. Poilievre declared “woke ideology” a dangerous mindset that leads to crimes, such as antisemitism against Jews on behalf of Palestine. “We must not just condemn these things. We must take action against them. We must deport from our country any temporary resident that is here on a permit or a visa that is carrying out violence or hate crimes on our soil,” Poilievre said.
I reported last month that Canada’s migrant crisis is costing the nation $16 billion annually. Taxpayers are paying around $224 daily to fund newcomers, as it costs around $81,760 per year to fund each asylum seeker who enters Canada.
Home inventory has shrunk to unseen levels as millions of migrants and foreign workers have caused a massive uptick in demand. Jobs are sparse, especially entry-level jobs, and over 1 million Canadians are out of work. More importantly, Canada’s population surpassed 41 million citizens, marking an all-time UNSUSTAINABLE high. Disgraced former PM Justin Trudeau insisted that Canada needed foreign workers and handed out visas to temporary foreign workers like candy on Halloween.
There are countless reasons for Canada to implement a mass deportation program. Deporting criminals who are not legal residents should be a welcomed start. We saw Toronto police ask residents to allow criminals to steal their cars to prevent home invasions after 26 neighborhoods in Toronto reported a 50% increase in major crimes over a one-year span.
Yet, Canada already has legislation in place to remove illegals who commit crimes. In fact, around 14,000 people were reported last year. The larger question becomes, what will Canada do to curb migration and remove the countless asylum seekers living off of Canadian taxes? Then we have the issue of removing woke rhetoric from Canadian society. Nearly all Build Back Better nations are seeing a sudden reversal as governments pushed the people so far left that they fled to the right.
Posted originally on Jan 31, 2025 by Martin Armstrong
COMMENT: Mr. Armstrong, thank you because you are the lone voice calling to us in Europe, where free speech is dying quickly. Others are afraid to say what you point out, even if they see it themselves. Some try to dismiss you but never address what you say, only who you are.
Many of us in Europe greatly respect your courage and independence. You will be remembered by history when this all comes to an end.
RVH
REPLY: Thank you. I learned back in 1985 when I went to lunch with one of the heads of a major bank in Geneva. He explained to me back then why everyone was using my firm. He said you do not care if the dollar goes up or down. He explained there were no European FX analysts because it was a political issue in Europe since politicians used the rise in the currency to validate their performance. Saying the currency would decline became a political statement.
Today, if an analyst at a major bank said the euro would crash, the ECB would be on the phone instructing that institution to fire them. That was explained to me back in 1985. It has only progressed since then, and now it is becoming criminal to simply oppose the government under the label of far-right or hate speech. An AfD victory will help to push the euro over the edge and threaten the WOKE agenda of the EU leadership.
Estonia’s economy was booming, but after several years of GDP growth at or close to 10%, the expansion rate collapsed and caused a negative contraction. The 2007-2010 economic recession was not such a soft landing. The sharp slowdown in the Estonian economy that began in 2007 is now undeniable. They jailed an economist for saying it would turn down. If I went to London today, Starmer would probably throw me in prison for something I said 10 years ago.
This is merely a reflection that the economy is turning down, and the Sovereign Debt Crisis is starting to come to a head. Trump at least understands debt. He may be called many names, but the issue will come to light, and he at least comprehends a debt crisis, whereas our politicians assume this is how they run the government, and someone will always buy their debt. When they can’t sell the new debt to pay off the old, everything will come crashing down. This is starting to come to a head this year, going into 2026. They will impose capital controls in Europe. They are trying speech controls first.
Olaf Scholz assumed office in December 2021. Just look at the German bond market. It went into a panic decline in 2022. Europe is going to have a debt crisis really beginning to surface next year. But more and more people are going to take notice this year.
The polls still show that the Union (CDU/CSU) is leading with an average of 30%, while the second strongest is the AfD, running about 21%. The next election will be on February 23rd, 2025.
We can see that we do have a Panic Cycle the week leading into the election that weekend. Then, there is choppiness for the following 3 weeks with a string of Directional Changes.
Alice Weidel of the AFD delivered a speech that hit home in Germany, exposing Scholz and his left-green authoritarian seizure of Germany. She explained that while migrants were attacking our people, Scholz had tried to silence the opposition and had even attempted to ban the AfD. She said: “Someone who thinks so authoritarian should not be the Chancellor of Germany.”
We show a Directional Change and a Panic Cycle due in February that lines up with the German election. An AfD victory can send the dollar higher and start to unwind the Euro. It is now 26 years since the birth of the euro. Cyclically, this is just time for the stress to emerge since it is unlikely that the euro will still exist by 2030 – 31 years from its creation.
Posted originally on Jan 30, 2025 by Martin Armstrong
Supreme Court Justice Oliver Wendell Holmes, Jr. made it clear what Free Speech was in Schenk v. U.S., 249 U.S. 47 (1919) (1919), ruling that a restriction is legitimate only if the speech in question poses a “clear and present danger”—i.e., a risk or threat to safety or to other public interests that is serious and imminent. Yelling fire in a crowded movie theatre is not free speech. There have been many cases involving freedom of speech and of the press over the years, and what is taking place in Europe is a rejection of free speech. In Britain, they sentenced a man to 20 months in prison for saying he was tired of paying taxes to support migrants who then raped their children. They are defining much that simply disagrees with government policy as “hate speech,” which is expressing a political opinion.
In Everson v. Board of Education, 330 U.S. 1 (1947), Justice Hugo L. Black on the Supreme Court traced the origins of the First Amendment to a bill establishing religious freedom that Jefferson drafted and introduced in the Virginia General Assembly in 1779, but was finally passed only in 1786 demanded by James Madison. This had three main sections prohibiting compulsory religion requirements of any kind, maintaining that men were free to express their opinions on religion and choose how or if to worship. That was a fundamental right as citizens and it was the foundation as a natural right of mankind. Justice Black wrote:
“Yet we are free to declare, and do declare, that the rights hereby asserted are of the natural rights of mankind, and that, if any act shall be hereafter passed to repeal the present or to narrow its operation, such act will be an infringement of natural right.”
Justice John Marshall Harlan, whose grandfather had been on the Supreme Court from 1877 to 1911, delivered the decision in Cohen v. California, 403 U.S. 15 (1971) where the state criminalized the word “f–k” being used in political protests against the government. He made it clear that the State may not, consistently with the First and Fourteenth Amendments, make the simple public display of this single four-letter expletive a criminal offense. Starmer in Britain imprisoning people for merely saying migrants raped their children was a criminal offense and sentenced a man to 20 months in prison.
Freedom of speech includes the rights to:
Not to speak (specifically, the right not to salute the flag). West Virginia Board of Education v. Barnette, 319 U.S. 624 (1943).
Of students to wear black armbands to school to protest a war (“Students do not shed their constitutional rights at the schoolhouse gate.”). Tinker v. Des Moines, 393 U.S. 503 (1969).
To contribute money (under certain circumstances) to political campaigns. Buckley v. Valeo, 424 U.S. 1 (1976).
To engage in symbolic speech (e.g., burning the flag in protest). Texas v. Johnson, 491 U.S. 397 (1989); United States v. Eichman, 496 U.S. 310 (1990).
What you MUST understand is that the EU is collapsing. The failure to ever consolidate the debts has led to (1) disparity among members, and (2) the Euro has never been able to replace the dollar, lacking a unified debt market to attract capital. The more desperate the financial crisis unfolds in Europe between war and debt, the more authoritarian the government will become. This is why Scholtz has the audacity to claim Germany has free speech as long as you are not their opposition. You cannot have free speech and ban the political speech of your opposition.
With all the talk of war in Europe, we are starting to see a massive exodus of European investment by foreigners. The Japanese dumped a record $53 billion worth of Euro investments, and we see the same from European investors trying to get out before capital controls coincide with the first bullet fired. The European leaders are braindead. They cannot grasp that the harder they beat their war drums, the more smart money will get out of the EU before it is too late. The Euro has been in an overall bear market decline since 2008.
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