Posted originally on the CTH on August 2, 2023 | Sundance
Collapse is never a sudden occurrence; it is an outcome of gradual erosion over time. A weakening that takes place almost invisible to those who pass through the construct, until eventually, at an uneventful time in the mechanics of history, the process gives way.
Fitch has joined with the prior position of Standard & Poors to downgrade the USA credit rating. The weight of debt, in combination with reverberations from the continued hammering deep inside the political fundamental change operation, has triggered another flare.
In the bigger picture, this is a self-fulfilling prophecy driven by the latest focus on unsustainable economic policy, aka The Green New Deal. The efforts of the fiscal, monetary and economic policy are all aligned to shrink the U.S. economy, thereby creating the era of “sustainable energy” a possibility. Unfortunately, this is akin to a household intentionally shrinking their income while at the same time taking on credit card debt. The process itself is not sustainable.
(Reuters) – Rating agency Fitch on Tuesday downgraded the U.S. government’s top credit rating, a move that drew an angry response from the White House and surprised investors, coming despite the resolution of the debt ceiling crisis two months ago.
Traders’ immediate response was to embark on a safe-haven push out of stocks and into government bonds and the dollar.
Fitch downgraded the United States to AA+ from AAA, citing fiscal deterioration over the next three years and repeated down-the-wire debt ceiling negotiations that threaten the government’s ability to pay its bills.
[…] “In Fitch’s view, there has been a steady deterioration in standards of governance over the last 20 years, including on fiscal and debt matters, notwithstanding the June bipartisan agreement to suspend the debt limit until January 2025,” the rating agency said in a statement.
U.S. Treasury Secretary Janet Yellen disagreed with Fitch’s downgrade, in a statement that called it “arbitrary and based on outdated data.”
[…] In a previous debt ceiling crisis in 2011, Standard & Poor’s cut the top “AAA” rating by one notch a few days after a debt ceiling deal, citing political polarization and insufficient steps to right the nation’s fiscal outlook. Its rating is still “AA-plus” – its second highest.
After that downgrade, U.S. stocks tumbled and the impact of the rating cut was felt across global stock markets, which were in the throes of the euro zone financial meltdown.
In May, Fitch had placed its “AAA” rating of U.S. sovereign debt on watch for a possible downgrade, citing downside risks, including political brinkmanship and a growing debt burden. (read More)
What do Barack Obama and Joe Biden have in common? They were both in office, executing an identical economic, fiscal and monetary policy, when the USA credit was downgraded.
A man attempted to purchase strawberries with cash at an Aldi grocery store in the UK, possibly leading to his arrest. They want us to adjust to the cashless society that will implement globally by the World Economic Forum under its Digital Currency Governance Consortium. Some call cash “hard currency” to further differentiate it from the coming digital world of finance. Piers Corbyn, who happens to be the brother of British Labour Party leader Piers Corbyn, has gone viral for what many are calling an act of rebellion against the globalists.
The Aldi in Greenwich only accepts payments through the Aldi App. Aldi implemented this measure during COVID and never repealed it. Stores are commonly banning all cash transactions, and it is legal for them to deny cash. These stores may not realize that the WEF will soon implement one “globally coordinated approach to [digital currency] regulation” and their individual apps will be obsolete.
As for Corbyn, he placed his cash on the counter and left the store with his strawberries. People cheered as he left the store. Aldi employees called the authorities. “I’m offering exactly the right amount of money here,” he announced, “I’ve paid my legal tender.”
“Legal tender” is merely any form of payment accepted by law. So while the “hard currency” produced by the Royal Mint may be considered legal tender to some, the grey area here is that sellers do not need to accept it as a form of payment. So what was once a commonly accepted legal tender is now fiat, containing no intrinsic value without the backing of CONFIDENCE.
When the gold coin was money during the 19th century, it rose and fell in purchasing power no different than any paper currency. You cannot walk into a grocery today and pay in gold. People only accepted paper money because they knew others would accept it as a form of payment. Fiat is simply an arbitrary decree.
Governments are telling the people loud and clear that cash will be phased out. They are making us accustomed to the idea, gaslighting us into thinking digital is more convenient. The truth of the matter is that the day will come when they ask us all to turn in our “hard currencies” in exchange for CBDC. I applaud this man for his act of bravery and hope he was not arrested over a pint of strawberries.
The victor gets to write history, and that is precisely what the LEFT did with FDR and the New Deal. You will never be an accurate analyst unless you accept that you are duty-bound to investigate the truth no matter where it may lead. The myth of the New Deal and its success in dragging the United States out of the Great Depression still prevails. This myth was the LEFT rewriting history, which truly became the propaganda that the Democrats had clung to right up to now, the Green New Deal.
This country had a massive Red Scare following World War I from 1918 to 1923. They were targeting Russians and assuming they were all just Communists when many fled here from Communism. The Department of Justice (DOJ) exploited it just as they did terrorists. When we were going to hold a conference at the Convention Center in Philadelphia owned by the government, they demanded that we purchase Terrorist Insurance covering the entire city and the state. They did not disclose that in advance and stole our deposit when I refused to comply – typical government. The DOJ gained more power, and we suddenly had to take off our shoes to board a plane – the only country to do such a thing.
The paranoia created was used to launch Congressional hearings, censorship, and new sedition legislation used today by the Biden administration against Trump and his supporters, all because of this manufactured Red Scare. They ignored the fact that the vast majority of people who were Russians had fled Communism. Even the story of Saint Petersburg, Florida, got its name on a coin toss, as legend would have it. In 1875 John Constantine Williams of Detroit, Michigan, moved to Tampa and bought 2,500 acres of warm waterfront land that would eventually become St. Petersburg. Many years later, Peter Demens, who was an exiled Russian aristocrat fleeing Communism, financed the Orange Belt Railroad to Williams’s settlement. Williams and Demens flipped a coin to see who would name the city. Demens won the coin toss and named it after Saint Petersburg, Russia. Williams named the city’s first hotel after his birthplace, Detroit.
Then as now, they turned against anyone who was Russian. This was whipped up by the press and the Department of Justice as they did to the Japanese during World War II. It just seemed that they had to target someone, and this time it appeared to be Trump supporters. The interesting fact is that the Red Scare was exposed as FAKE. By 1923, the Red Scare was exposed as being manufactured to generate business. They were also targeting unions. The first victim of the Red Scare was the union of mine workers.
Nevertheless, it was during the New Deal that the real communists infiltrated Roosevelt’s Administration. The New York Times celebrated Joesph Stalin and communism as the future and cure for the Great Depression. Their top journalist Walter Duranty (1884-1957) even convinced Roosevelt to recognize Russia. Duranty met with Roosevelt to convince him that Communism was working and to encourage his New Deal. The mainstream press in the 1930s was very much touting the Communists. They wanted to hear of Utopia and so reported only what they wanted to believe, as they are doing once again.
The New York Times (NYT) journalist Walter Duranty on March 31, 1933, denounced reports of famine to cover up the fact that Stalin stole all the food from Ukraine. The NYT was so pro-Communism that this was the natural infiltration of Reds, but nobody did anything about that. They wanted to hear of Utopia and so reported only what they wanted to believe, as they are doing once again. The New York Times even promoted Duranty to be awarded the Pulitzer Prize for that reporting fake news. When Gareth Jones (1905-1935) in March of 1933 said this was all a lie, the truth finally began to appear. It took the New York Times until 1990 to admit they engaged in fake news pushing communism, covering up the famine in Ukraine to suggest that Stalinism was the Utopia they wanted to impose in the United States. The NYT wrote that their reporting on the Russian Revolution constituted “some of the worst reporting to appear in this newspaper.” Duranty was doing this also to support Roosevelt’s New Deal. He helped install drastic progressiveness in taxation.
Roosevelt’s New Deal was based on Marxism. His first Brain Trust consisted of a group of Columbia Law School professor Adolf Berle, Jr. (1895-1971) and an economist Raymond Moley (1886-1975). In mid-1933, Moley began his break with Roosevelt when he saw that he was becoming increasingly Marxist. He abandoned Roosevelt entirely by 1936 when it became clear that the New Deal had failed. Roosevelt replaced Moley with a decisively leftist economist named Rexford Tugwell (12891-1979). Moley became highly critical of Roosevelt and Tugwell’s policies to such an extent he switched parties and became a Republican.
Tugwell, an academic economist, embraced the Utopian ideas of Stalinism. It was Stalin who Lenin warned should not follow him. Lenin wanted Communism, but each state retained its sovereignty, whereas Stalin was authoritarian and imposed central planning and carried out his Great Purge of 1937-1938, killing between 700,000 and 1.2 million, involving anyone he thought would oppose his central planning. Tugwell sought to impose Stalin’s central panning and crafted much of the legislation in those years that cartelized industry, controlled prices, and embarked on Soviet-style projects. Tugwell was a great admirer of Soviet “achievements” in agriculture and housing, believing the fake news published by the New York Times. Roosevelt even sought to stack the Supreme Court with Soviet admirers to overrule the U.S. Constitution to create this tremendous new Soviet Utopia in America.
All of these regulations did not save the United States – they actually made it far worse. LEFTIST historians have reached a consensus that regards the accomplishments of the New Deal as the major watershed event constituting a definitive dividing line in American social-economic history. These historians present the Roosevelt administration as marking the end of the passive state dominated by big business interests and the beginning of the interventionist state. This new interventionist state was designed to curb the concentrations of business power, claiming to be the protector of the rights and interests of the powerless and underprivileged. They have projected that they alone will secure the general welfare against the capitalists and their profit-seeking agenda. Against this revision of history, the opponents saw this New Deal as a conspiracy of leftist intellectuals with the help of labor union factions. Career politicians have always maintained the public image of Marxist Socialism while selling favors for money to lobbyists.
“Mrs. Clinton said she dreamed of “open trade and open borders” throughout the Western Hemisphere. Citing the back-room deal-making and arm-twisting used by Abraham Lincoln, she mused on the necessity of having “both a public and a private position” on politically contentious issues. Reflecting in 2014 on the rage against political and economic elites that swept the country after the 2008 financial crash, Mrs. Clinton acknowledged that her family’s rising wealth had made her “kind of far removed” from the struggles of the middle class.”
Consequently, the New Deal was the 20th-century evolution of the Marxist Interventionist State. Ironically, they would cut special favors for big business that allowed the Leftist Agenda to take hold. By introducing regulations to intervene in the economy, they corrupted the government by endorsing the rise of lobbyists. What actually took place was that where big businessmen had failed to achieve monopolies during the 19th century, they turned to the Federal Government for protections of various sorts. This even allowed companies by Pfizer to be protected from lawsuits for their failure to provide safe drugs.
The great achievement reached a climax with the passage of the NationiaI Industrial Recovery Act (NIRA) of June 1933. This was one of the measures by which Roosevelt sought to assist the nation’s economic recovery during the Great Depression. This was a unique experiment in economic history that sanctioned, supported, and also enforced an alliance of industries. The Sherman Antitrust laws were actually suspended. Roosevelt insisted that companies were required to write industry-wide “codes of fair competition” that effectively fixed prices and wages, created production quotas, and imposed restrictions on the entry of other companies into the alliances. This was seeking Soviet-style control over industry without seizing private ownership. Promises of self-regulation enticed companies and declared codes of fair competition. While it was marketed as protecting consumers, competitors, and employers, the country’s various industries were to write their own regulations. Employees were given the right to organize and bargain collectively in unions. They were not to be required to join or refrain from joining a labor organization as a condition of employment.
The National Recovery Administration (NRA) was created by the National Industrial Recovery Act (NIRA) and was engaged chiefly in drawing up these industrial codes for all industries to adopt until March 1934. More than 500 codes of fair practice were adopted for various industries. Patriotic appeals were made to the public, and firms were asked to display the Blue Eagle, an emblem signifying NRA participation. However, in 1935, the U.S. Supreme Court unanimously declared the NRA unconstitutional. They held that it infringed the separation of powers under the United States Constitution. The NRA stopped operations. However, Roosevelt was not deterred, and much of the labor provisions reappeared in the National Labor Relations Act, passed later the same year – 1935. This resulted in the one-sided LEFTIST power of unions, which were the core of the New Deal but led to serious corruption over the course of the next three decades.
Yes, I know, we’ll never get rid of the Myth that the New Deal saved us, but the reality is that the Great Depression lasted longer than it would have otherwise taken due to the FDR intervention. We can see that unemployment was still greater than 10% even in 1937 despite the rally in the stock market between 1932 into 1937. It was 1938 when Roosevelt passed the Fair Labor Standards Act establishing a minimum wage. It was also when Hitler marched into Austria, establishing a geographical union of Germany and Austria. Then there was the Munich Pact, where Britain, France, and Italy agreed to let Germany partition Czechoslovakia.
As we can see, the worst unemployment actually took place in 1936, some four years after FDR was elected. So much for his policies reversing the Great Depression. The real event was war, which is why FDR allowed Pearl Harbor to occur. The scandal was that we had broken the Japanese CODE, so the question was, why did we allow Pearl Harbor to take place? They concluded that there was no direct evidence that FDR knew.
Posted originally on the CTH on July 31, 2023 | Sundance
It may be entirely possible in Illinois now for a police officer to demand to see your papers for identity compliance even though that police officer may be an illegal alien who broke U.S. law to enter the United States.
Under a bill recently signed by Illinois Governor J. B. Pritzker, illegal aliens can now become police officers. The downstream ramifications of this effort are not difficult to imagine.
As if the crisis of confidence in the U.S. legal and law enforcement system was not under enough pressure, the reality of lawbreaking foreign nationals and border crossers now controlling law enforcement is a rather remarkable escalation in social fracture.
NewsWeek – […] The measure—House Bill 3751—successfully passed the Democratic-controlled state House and the state Senate before being signed into law by the Democratic governor last week. The bill, which will come into force on January 1, 2024, allows eligible immigrants who are not in possession of U.S. citizenship to join law enforcement in Illinois—something that federal laws currently forbid.
[…] Eligible non-U.S. citizens are subject “to all requirements and limitations, other than citizenship, to which other applicants are subject,” and must be able to obtain, carry, purchase, or otherwise possess a firearm under federal law.
Foreign nationals “against whom the U.S. Citizenship and Immigration Services have deferred immigration action under the federal Deferred Action for Childhood Arrivals (DACA) process” will also be eligible, according to the bill’s text.
That means that individuals who came to the country illegally as children and received a renewable two-year period of deferred action from deportation—known as the DACA process—will be able to apply to become police officers in Illinois. DACA recipients are protected from deportation and have a work permit, though the program does not grant them official legal status. (read more)
The 2024 Democrat National Convention will take place in Chicago.
QUESTION: Thanks for all the great information you share. I have a question regarding cryptocurrencies. Do you think all countries will try to abolish crypto or only certain countries (such as the US) in favor of a central bank digital currency? As of now, many countries appear much more accepting of crypto than the US. Thanks again.
JWM
ANSWER: This is a good question. Before the stupid sanctions imposed on Russia removed them from SWIFT, the IMF would threaten tax havens that if they did not turn over the people with accounts in their country, they would be removed from SWIFT. The sanction against Russia have backfired, so now we have China and Iran setting up their alternatives to SWIFT. I would have assumed that they would have threatened countries against the removal from SWIFT if they did not shut down cryptocurrencies, for they would provide an alternative to CBDC and thereby skirt their end goal of 100% control and taxation. In trying to sanction Russia, they have lost their absolute power to abuse SWIFT to threaten countries. Theoretically, the tax havens could switch to China’s CIPS and say screw you to the US and EU.
As I have said, an EMP could wipe out the entire financial system and neutralize even nuclear weapons capability. I do not see how these people will succeed in dominating the world. Their abuse of SWIFT to punish Russia has undermined their power and the entire world economy. This is most likely part of the 2032 collapse.
I would be concerned about cryptocurrencies making the transition to what lies beyond 2032. That is highly speculative. I would tend to rely on the tangle assets to make the transition to whatever the new monetary system will emerge post-2032.
Posted originally on the CTH on July 31, 2023 | Sundance
Italian Prime Minister Georgia Meloni sounds slightly less nationalist and slightly more globalist in this interview as she discusses the current challenges for Italy within the European Union. With a large focus on the African continent, mostly driven by root cause illegal immigration, Prime Minister Meloni outlines how supporting the African economic needs are a pragmatic solution to the outflow of migrants. {Direct Rumble Link} – WATCH:
First, it was toilet paper, then baby formula, and now it’s non-basmati rice that people are running to the stores and buying in bulk. India has put into effect on July 20th the ban on non-basmati rice in order to calm domestic prices. According to the International Food Policy Research Institute, the global rice market prices have already risen 15%-20% since September of 2022. People have already started panic buying in Texas, Washington, Michigan, and other states. It has not hit every state yet; the impact of this ban has been more so in the regions of larger Indian-origin populations. Most grocery stores have already allegedly limited one bag of rice per customer. Wholesalers and other companies have been adjusting prices which leads to price gouging, so rice is selling for double than usual.
Rice was already at a high point price-wise during Covid-19 and with the war in Ukraine, it gouged the cost of wheat, causing rice production to increase. Allegedly, according to a store owner, there has not been a date specified that this ban in India exports will lift. He is suggesting that this ban will be anywhere from 6-8 months.
Socrates has projected that volatility would rise starting here in 20203, and prices should rise further into 2024. Thereafter, geopolitical instability may further impact supply.
QUESTION: Looking at Socrates, do you think that these people who were constantly calling for a recession because there were two quarters that declined with covid really need revision? Socrates was correct, no recession. But it is showing major turning points in 2024 which seem to align with your old ECM forecast calling for commodity inflation into 2024. How would you define a recession?
EJ
ANSWER: In trading, reactions are 1 to 3 time units. I believe that the same definition should be used for classifying a recession. They define a recession as two consecutive quarterly declines. If you look at the “Great Recession” of 2008-2009, you will see three consecutive quarterly declines and a rebound. If we look at the COVID recession caused by locking everyone down, that was just two consecutive quarterly declines.
I personally would argue that a true economic recession MUST exceed three consecutive declines. Here is the chart of GNP from 1929 to 1940. There were three years of negative growth. I simply think that this definition of two quarters is wrong. You can have a slight decline of 1 to even 5%, but that does not suggest a recession. In the case of 1929, that was a decline of 9.5% in 1930 – the first year. Now look at the COVID Crash, which was also a decline of 9.53%. But the difference is that the COVID decline was forced and not natural. That is why it rebounded so quickly. Now the so-called “Great Recession” of 2008-2009 only saw a decline in GDP of 3.47%.
The “Great Recession” was not really so great. It wiped out real estate and bankers but did not fundamentally alter the economy. So who is right and who is wrong will always depend upon the definition. Yes, the AI Timing Arrays point to a recession starting Next Year by their definition. This will most likely be caused by the decline in confidence that will lead to UNCERTAINTY, and as such, the consumer will contract. Up to now, the continued expansion of the economy into 2024 has also been fueled by the shift in assets from public to private.
As originally forecast, we should have seen a commodity boom into 2023,
and we should expect a highly authoritarian attempt by 2028.
QUESTION: You said that when Rome fell it took 700 years before gold coins reappeared. Are we facing something like that again?
PO
ANSWER: Yes, when Rome fell, gold continued in the East under the Byzantine and Islamic Empires. However, in Europe, the last Western emperor was Romulus Augustus (475-476AD) who was a puppet anyhow. He was a young son, whereas today, we have senile leaders who are puppets and incapable of independent rational thought. The first gold coin to reappear in Western Europe was that of Frederick II of Sicily (1231-1250AD). The Augustale was a gold denomination of about 5 and a half grams which Frederick II introduced to Sicily in 1231AD, and it was primarily issued for international trade.
Actually, Fibonacci (1170-1240 AD) published in 1202 his “Liber Abaci” (Book of Abacus). He introduced Hindu-Arabic numerals into Western culture. Suddenly, this allowed the calculation of numbers that were not taught in schools and was unknown in Christian circles. Only a very small group of intellectuals had access to translations of the Arab mathematician al-Khwarizmi (780-850 AD). The techniques that Fibonacci introduced were groundbreaking to re-establish a culture that lost its identity with the fall of Rome. Fibonacci illustrated practical problems on how to calculate profit margin, money changing, barter, conversion of weights and measures, partnerships, and, last but not least, interest. He also introduced some geometry and algebra.
However, Fibonacci’s work was so earth-shattering it became the topic of discussion and caught the attention of King Frederick II of Sicily. I believe it was Fibonacci’s introduction to mathematics that also inspired Frederick II to even reintroduce gold coinage in order to trade with the outside world. At the time, that included the Arabs as well as the Byzantines. The gold dinar was the Islamic medieval gold coin first issued in 696–697AD by Caliph Abd al-Malik ibn Marwan with a weight of 4.25 grams. Frederick II made his coin about 1 gram heavier in order to project economic power.
The introduction of CBDC is highly dangerous in war; even a nuclear blast also sends out an EM pulse that will destroy electronics. If I were Russia or China, I would NOT move to any sort of digital currency and then use an EMP against the United States. The entire economy would collapse. People would not even be able to buy anything. We have idiots in power who are so greedy, looking at the power this will place in their hands, they are ignoring the risks. This could mark the collapse of Western society, sending us back to the days of Barter.
The Post-2032 era would most likely be fragmented rather than national states as we know them today. There will most likely emerge regional currencies, as we have witnessed throughout history many times. Even during the Great Depression, over 200 US cities resorted to issuing their own money.
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
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