Investors’ curiosity has peaked as central banks are increasing their gold purchases. We are not going back to a Bretton Woods type situation and that is not the issue. You must understand that gold is neutral. Central banks are buying gold because the Neocons have weaponized the dollar.
Russia was removed from the SWIFT system, and private citizens’ assets were confiscated. When Russian assets were removed from SWIFT, a threat to the world was issued to say, “Hey, if you don’t do what we tell you to do, we will take you out of SWIFT.”
This is not the end of the dollar. Money continues to pour into US equities, particularly the Dow. Why? When the drum of war is beating, major institutions rush to move their money into a safe haven, which happens to be the US at this point in time. The big money is not purchasing start-up equities on the Nasdaq, for example, as they will not take that risk. Our computer model indicates the Dow will continue rising into 2032 as it remains one of the last safe havens.
The West has become extremely aggressive in its geopolitics. You simply do not buy the debt of your enemy. Central banks are buying gold because the USD is political.
There is a stark difference between short-term and long-term bonds. The central banks have zero control over the short-term and that is how this whole QE fiasco began as central banks began purchasing long-term debt in an attempt to reduce long-term interest. Why would you buy long-term when war, the primary driver of inflation, is looming? This is a serious situation that the neocons who have weaponized the dollar simply do not understand.
Posted originally on Apr 3, 2024 by Martin Armstrong
QUESTION: I believe you analyzed inheritance and how altering it had contributed to society’s decline. Politicians here in Australia are talking about when you die; everything should go to the state because it is not fair that one person inherits more than another.
I would greatly appreciate any comments you might have historically on that subject.
Bret
REPLY: Yes, I forgot when I did that analysis. It was a long time ago. Inheritance Taxes are Marxist and highly destructive economically. Suppose you have a company worth $100 million; your children must pay 40% taxes. They have to fire people and sell assets to cover the tax. This has been HIGHLY destructive in farming. Heirs have been forced to sell off farmland to pay the tax. This is how large farming companies and Bill Gates have accumulated farmland. This exploitation of the heir reduces productivity and thus reduces GDP and employment.
Before Marxism, inheritance became the primary reason the first son inherited everything during the Middle Ages, and the second son was donated to the church to become a priest, whether he liked it or not. In ancient times, if you had many children and evenly divided an estate among them, you effectively destroyed society’s productive capacity.
There had previously been two types of marriage in France, temporary and permanent, until the Catholic Church insisted on only permanent marriages. Charlemagne married all his daughters in only a “temporary” marriage, meaning that they possessed no legal right to the throne or property. That was the distinction between the two types. The question of inheritance was a major issue historically.
The ancients knew the consequences of dividing estates (partibility) among heirs. Sparta in Greece rewarded fathers based on the number of children. Sparta wanted soldiers, so the more children, the better. But Sparta undermined its own economy in the process. Production of children was rewarded in Sparta, and the fathers of three or four sons were exempted from military service and other economic burdens. Aristotle is sharply critical of this practice and wrote:
“It is obvious that, if there were many children, the land being distributed as it is, many of them must necessarily fall into poverty.”
If you create a major company like Ford Motors and you die, then the government is only interested in grabbing taxes. They think nothing about the jobs this company creates. The ancients realized that even dividing it up equally among the heirs destroys the productive capacity of the entity. This is why they evolved into the first son who inherited everything to preserve the estate rather than destroy it.
After 2032, we MUST prohibit any such idea of direct taxation (income/inheritance) as the Founding Fathers of the US Constitution intended. They understood this lesson from the past – Marx was a hateful, jealous person, only concerned with not having as much as his neighbor. This is what has brought us to the brink of disaster. Our government has followed Marx rather than those who created the Constitution out of experience.
Thomas Paine was famous for saying: Give me liberty or death. But he also made it very clear why history repeats fro the people refuse to ever learn:
“Government, even in its best state, is but a necessary evil; in its worse state, an intolerable one.”
Posted originally on the CTH on April 2, 2024 | Sundance
According to those in political circles who are instructed by the intelligence community, funding for Ukraine is the highest national priority. As an outcome we see all the DC politicians and beltway pundits pushing the same story, funding for Ukraine is the highest priority.
The key politicians within the dynamic exist inside information silos, essentially control mechanisms, where the intelligence community (IC) constructs reality by briefing the politicians about what is going on in the world. The IC tells the politicians what is happening, defines the importance and instructs the politicians on the priorities. The IC is never challenged because ultimately the IC has “seven ways to Sunday” to target the politicians if any non-compliance is identified.
Speaker Mike Johnson is one of the “gang-of-eight” members within the legislative branch. The Go8 are briefed and controlled by the IC, using the exact same intelligence given to the President. Speaker Johnson has the funding of Ukraine as his top priority, because the IC officials who set priorities have told him it must be. WATCH (prompted):
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(Via Fox News) – […] “When we return after this period, we’ll be moving a product. But it’s going to, I think, have some important innovations,” Johnson told Fox News’ “Sunday Night in America with Trey Gowdy.”
Both the House and Senate are currently on the second week of a two-week recess, when lawmakers are working in their home districts. The House is back on Tuesday, April 9.
Johnson said he has been “working to build consensus” on a supplemental national security and foreign aid package, though he signaled it would look different from prior attempts. He said the House would “be moving it right after the district work period.”
It comes after Republicans killed a $118 billion package with aid for Ukraine, Taiwan, Israel and the U.S. border earlier this year, arguing it did not go far enough to tackle the ongoing border crisis. Senate Majority Leader Chuck Schumer, D-N.Y., and President Biden have been pressuring Johnson to take up a slimmer $95 billion package without border measures.
“We’ve been trying to use that as the only leverage we have to force change on the border. We’re still trying to force the president to use his executive authority, and most of the American people know that he has that authority. He’s not using it,” Johnson argued.
On Ukraine specifically, he said, “There’s a lot of things that we should do that make more sense and I think we’ll have consensus around.”
Johnson highlighted three details specifically – the first being the REPO Act introduced in the House last year by Foreign Affairs Chairman Michael McCaul, R-Texas, and Rep. Marcy Kaptur, D-Ohio, which would liquidate seized Russian assets and send that as assistance to Ukraine.
The speaker also pointed out that former President Trump recently floated the idea of aid to Ukraine in the form of a loan, though he did not mention specific terms save for Kyiv paying Washington back if they win the war against Russia.
[…] Johnson described the third proposal, “And then, you know, we want to unleash American energy. We want to have natural gas exports that will help unfund Vladimir Putin’s war effort there.” (read more)
Latest US POLLING – […] “poll shows that two years after Russia’s initial invasion, the Ukraine war has become a partisan dividing line: Majorities of Democrats think it’s extremely or very important to prevent Russia from seizing more Ukrainian territory, to negotiate a permanent ceasefire between the two countries, help Ukraine regain its land and provide general aid to its military, while less than half of Republicans and Independents agree.” (read more)
Posted originally on the CTH on April 1, 2024 | Sundance
I strongly doubt that Chairman Xi, President Putin or Chairman Kim think about Joe Biden for a single moment. Everyone knows Biden is a propped optic for the people behind the administration who control him.
At a certain point it just gets embarrassing to keep pretending. Check his polling, Biden isn’t collapsing because the left dislike his policies; Biden is collapsing because more and more leftists are being ridiculed and shamed.
Today, Joe Biden celebrated his national transgender egg roll days with the “oyster bunnies.” WATCH:
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