Posted originally on Sep 25, 2025 by Martin Armstrong |
The European Central Bank (ECB) is urging citizens to “keep calm and carry cash.” The ominous message is a warning of trouble ahead. Bank runs, defaults, war, grid failures, pandemics—the current banking system cannot rely on what’s ahead. “Cash provides essential redundancy – a ‘spare tire’ – for the payment system,” the study’s authors write. “This redundancy is vital for any system, as no system is infallible.”
Indeed, no system is infallible. I have been consistently warning for decades that tangible assets are a necessity. Cash is freedom, which is precisely the reason that governments want to transition to digital and CBDC. Cash is anonymous, untraceable, and outside the immediate reach of bureaucrats. The entire fight against “money laundering” and the push to link biometric data to bank accounts is a direct assault on cash. Every penny will be tracked, and if they decide you owe taxes, they can simply deduct it without a trial.
However, you cannot simply flee with cash in a suitcase as the majority of nations consider that a crime and will seize your money. Customs agents do not need evidence of a crime, and even if the courts clear you of wrongdoing, there is no guarantee you will ever receive it back. Money is whatever someone is willing to accept as payment. I have long advocated for silver coinage that is easy to carry and identifiable as one such alternative, especially valuable if the currency fails.
“The sustained demand for banknotes has been amplified by sharp increases in public demand during major crises, which highlights the unique role and attributes of physical currency,” the ECB states. The 2014-15 sovereign debt crisis in Greece led to massive bank runs, and people had no access to their funds. There were surges in withdrawals during COVID and at the start of the Russia-Ukraine wa,r and the ECB knows that banks simply do not have the liquidity to provide customers with cash in the event of a true bank run.
Central banks are issuing specific instructions for civil protection. “For instance, authorities in the Netherlands, Austria and Finland suggest holding amounts ranging from approximately €70 to €100 per household member or enough to cover essential needs for about 72 hours. Some jurisdictions, like Finland, are even exploring “disruption-proof” ATMs to ensure access during digital failures.” The ECB is keenly aware that trouble is around the corner.
The recent power outages in Spain and Portugal led to a significant disruption in the financial system. Grids will be targeted during times of war. Nations bordering Russia have seen a much higher demand for cash withdrawals, “with issuance levels reaching six to ten standard deviations above their respective historical norms.” The ECB reports that this level of deviation is “highly unusual,” but in times of panic, people hoard as a survival tactic. There was a 36% spike in daily net banknote issuance during the first month of the war. Expect this figure to multiply when it becomes obvious that the war is expanding beyond Russia and Ukraine.
Keep cash on hand for day-to-day needs, but remember that its use will be increasingly limited, and its portability across borders almost impossible. The real hedge will remain tangible assets that cannot be canceled by government. Next year will be devastating. If you are in Europe, the best thing you can do is get your affairs in order and leave immediately.
Posted originally on CTH on September 24, 2025 | Sundance
Attorney Lindsey Halligan, a White House adviser and former Trump defense attorney, was tapped as the interim U.S. attorney in the Eastern District of Virginia on Monday. The EDVA office has been conducting investigations of former FBI Director James Comey and current New York Attorney General Letitia James.
Today NBC is reporting that James Comey is likely to be indicted in the Eastern District of Virginia within the next week.
(via NBC) – Former FBI Director James Comey is expected to be indicted on criminal charges in the coming days in federal court in Virginia, MSNBC reported Wednesday.
The news comes days after the top prosecutor in the Eastern District of Virginia resigned under pressure from President Donald Trump after opposing filing charges against Comey.
[…] The president, in a social media post on Saturday, called Comey “guilty as hell” as he raged about the lack of criminal charges against the former FBI leader.
MSNBC reporter Ken Dilanian, in a post on X, said Comey is expected to be indicted in the Eastern District of Virginia, according to three people familiar with the matter.
“The full extent of the charges being prepared against Comey is unclear, but the sources believe that at least one element of the indictment — if it goes forward — will accuse him of lying to Congress during his testimony on September 30, 2020 about whether he authorized a leak of information,” Dilanian tweeted.
Sen. Ted Cruz, R-Texas, that day had asked Comey if he lied when he said he did not authorize a leak of information to The Wall Street Journal.
The reporter noted that the five-year statute of limitations on that charge would lapse next Tuesday. (read more)
The story of James Comey using Daniel Richman to leak to the media is well known. Office of Inspector General Michael Horowitz investigated the FBI leaks and wrote a report about it. The prior DOJ refused to prosecute.
In 2018, Congressman Jim Jordan made mention of the issue where James Comey had a special employee on assignment ‘off-the-books’. People started asking questions, and Fox News’ Catherine Herridge detailed how Daniel Richman held special access privileges to the FBI, as an outcome of former FBI Director James Comey authorizing his friend as a “Special Government Employee” or SGE.
2018 – The professor, Daniel Richman, confirmed the special status in response to an inquiry from Fox News, while referring other questions, including on the scope of his work, to the FBI.
“I did indeed have SGE status with the Bureau (for no pay),” Richman wrote in an email.
Richman emerged last year as the former FBI director’s contact for leaking memos documenting his private discussions with President Trump – memos that are now the subject of an inspector general review over the presence of classified material. Sources familiar with Richman’s status at the FBI told Fox News that he was assigned to “special projects” by Comey, and had a security clearance as well as badge access to the building. Richman’s status was the subject of a Memorandum of Understanding. (read more)
Daniel Richman is part of the Lawfare association and close friends with Benjamin Wittes, another of Comey’s tribe.
Remember the little cannon Wittes would use during Andrew Weissmann’s Trump-Russia investigation?
Posted originally on CTH on September 24, 2025 | Sundance
UPDATE:According to CNN, “in a new letter addressed to attorney Christopher Mattei on Wednesday, Martin withdrew his initial letter entirely. In a brief note, according to a person familiar with the letter, Martin wrote that there is no investigation of Aldenberg and “because of this, I hereby withdraw my request for information from you or your former client.” {SOURCE}
As noted in the original outline below, it wasn’t particularly smart for Alex Jones to post the letter on his Twitter account. Without much doubt the Ed Martin retraction was due to this knuckleheaded move.
— Original Outline Below —
William “Bill” Aldenberg was the lead investigator for John Durham in 2020. Bill Aldenberg was also a plaintiff in the case against Alex Jones in the Sandy Hook Elementary School shooting 2012, lawsuit and civil trial 2022.
According to a U.S. News and World Report article, “Aldenberg was among the law enforcement officers who responded to the school and found the dead children. That then led to years of abuse from people who believed the shooting was a hoax, he has said. His share of the judgment totaled around $120 million.”
Bill Aldenberg was the first witness in the 2022 case against InfoWars. Alex Jones and InfoWars lost the lawsuit and were punished by a $1.4 billion damage award to the plaintiffs. InfoWars filed bankruptcy and the arguments over liquidation of assets is underway in Texas.
Here’s where things get weird. We know the FBI was conducting an operation called “Arctic Frost,” essentially the targeting of Donald Trump and key figures who aligned with Trump in the aftermath of the 2020 election. {Citation}
It is widely suspected, the massive amount of evidence captured in the Arctic Frost operation, was eventually fed to the January 6th Committee for use in their expanded investigation. That evidence then underpinned the case against President Trump that was being assembled by Jack Smith. {Go Deep}
Essentially, operation Arctic Frost was the evidence gathering operation, then the J6 Committee and special counsel Jack Smith used the FBI evidence to frame their cases. [Readers will note, this process is similar to the FBI “Crossfire Hurricane” operation, which fed evidence to special counsel Robert Mueller, to frame their cases.]
Back to FBI Investigative Agent William Aldenberg, who was lead for John Durham.
DOJ attorney Ed Martin is looking at the connective tissue around all of the FBI targeting operations. He now asks the lawyers for William Aldenberg about details of their client’s involvement in the case against Alex Jones.
Alex Jones posted a copy of the letter on his Twitter [X] feed, along with a picture of him and Ed Martin. A rather knuckleheaded move by Jones considering how Ed Martin says in the letter he would prefer not to litigate the issue in the media. Then again, wisdom and sound judgement have never been Jones’ strong points.
Really, it’s a convoluted mess making the serious issues around Arctic Frost get lost in the weeds. Then again, perhaps that is a feature not a flaw. Many people, CTH included, view Alex Jones through the prism of compromise ever since the $1.4 billion sword of Damocles was established over his head.
(USN&WR) – […] Ed Martin Jr., who leads the Justice Department’s “weaponization working group,” asked in the letter whether retired agent William Aldenberg received any financial benefits from helping to organize the lawsuit, in which he was a plaintiff along with victims’ family members.
Aldenberg, like the parents and other relatives of the 20 children and six educators killed in the 2012 school shooting in Newtown, Connecticut, has been the subject of false conspiracy theories spread by Jones on his “Infowars” broadcasts.
Aldenberg was among the law enforcement officers who responded to the school and found the dead children. That then led to years of abuse from people who believed the shooting was a hoax, he has said. His share of the judgment totaled around $120 million.
In a Sept. 15 letter to Christopher Mattei, a lawyer who represents Sandy Hook families, Martin suggested he was scrutinizing Aldenberg’s role in the lawsuit.
Mattei responded to the letter in a text message to The Associated Press.
“Thanks to the courage of the Sandy Hook families, Infowars will soon be finished,” he said, referring to the families’ efforts in court to liquidate Jones’ assets to help pay the judgment. “In his last gasps, Jones is once again harassing them, only now with the corrupt complicity of at least one DOJ official. It’s as disgusting as it is pathetic, and we will not stand for it.” (more)
Posted originally on CTH on September 24, 2025 | Sundance
I have continued to point out that Chad Mizelle was Rod Rosenstein’s chief legal counsel during the first term of President Trump. As Rosenstein’s legal counsel, it was Chad Mizelle who literally wrote the “scope memos” that authorized the appointment of Robert Mueller as special counsel to investigate President Trump.
Mizelle also wrote the expanded scope memos for Mueller and Andrew Weissmann that permitted the targeting of Michael Flynn Jr, Michael Flynn, George Papadopolous, Paul Manafort and more. Chad Mizelle would have intimate knowledge of Rosenstein’s intent to hire Robert Mueller, before, during and after the Special Counsel was appointed.
Because of everything above, Chad Mizelle was always looked at with strong suspicion. There is no way to intellectually reconcile Chad Mizelle as a good faith actor knowing the intents and purposes of Robert Mueller. It just didn’t make sense.
Subsequently, when Chad Mizelle was selected to guide Attorney General Pam Bondi through the nomination process as Attorney General we watched with concern. After the successful confirmation, Mizelle then took up position as AG Pam Bondi’s Chief of Staff.
[It should also be noted that Chad Mizelle is reported to be very close friends and allies with Stephen Miller. Yet, another irreconcilable aspect.]
On September 20th, President Trump sent a seemingly frustrated Truth Social message, outwardly questioning the slow to non-existent reality that Main Justice was not holding the bad actors within the Lawfare operation accountable.
Three days later, it is now reported that Chief of Staff Chad Mizelle is departing Main Justice.
WASHINGTON – Chad Mizelle will leave as chief of staff at the Department of Justice in the next few weeks to return to his family in Tampa, Axios has learned.
Mizelle, a key ally of White House deputy chief of staff Stephen Miller, told us he’ll continue to support the Trump administration’s work, and plans to continue “exposing the left-wing groups responsible for violence across America.”
Bondi says Mizelle “served this Department with professionalism, sound judgment, and dedication. As Chief of Staff, Chad played a central role in coordinating the Department’s operations, ensuring its resources were aligned and our efforts were carried out with integrity and efficiency. His counsel strengthened our work to advance justice and protect the American people. I am grateful for his service and friendship.”
Todd Blanche, deputy attorney general, said: “Chad’s tenure at the Department has been marked by exceptional leadership and dedication to the Department. He provided Attorney General Bondi and all of us with outstanding counsel, and his steady hand helped guide our work. Chad played a key role in advancing the President’s America First agenda here at the Department, and his efforts strengthened our mission to protect the American people.” (link)
All of that may be true. However, it is also true that without Chad Mizelle there would never have been a Robert Mueller investigation and expanded scope memos for Andrew Weissmann.
Curious timing when contrast against President Trump’s statements a few days prior.
President Trump’s social media post: “Pam: I have reviewed over 30 statements and posts saying that, essentially, “same old story as last time, all talk, no action. Nothing is being done. What about Comey, Adam “Shifty” Schiff, Leticia??? They’re all guilty as hell, but nothing is going to be done.” Then we almost put in a Democrat supported U.S. Attorney, in Virginia, with a really bad Republican past. A Woke RINO, who was never going to do his job. That’s why two of the worst Dem Senators PUSHED him so hard. He even lied to the media and said he quit, and that we had no case. No, I fired him, and there is a GREAT CASE, and many lawyers, and legal pundits, say so. Lindsey Halligan is a really good lawyer, and likes you, a lot. We can’t delay any longer, it’s killing our reputation and credibility. They impeached me twice, and indicted me (5 times!), OVER NOTHING. JUSTICE MUST BE SERVED, NOW!!! President DJT“
Laura Loomer never had an issue with Chad Mizelle.
Posted originally on Sep 24, 2025 by Martin Armstrong |
China declined to make an official statement regarding Donald Trump’s change to the H-1B visa. Around 12% of such holders in the US are Chinese nationals. Instead, China announced that it will launch a new K-visa, expanding its 12 existing visas, to attract global talent.
“In a globalised world, cross-border flow of talents is instrumental in global technological and economic advancement,” Foreign Ministry spokesperson Guo Jiakun stated. “China welcomes talents from various sectors and fields across the world to come and find their footing in China for the progress of humanity and career success.”
The visa will take effect on October 1, 2025, and is designed to attract skilled professionals in engineering, technology, mathematics (STEM), and science. Applicants must have a bachelor’s degree in STEM from a recognized university or research institution, and employer sponsorship is not required.
Sorry, but top talent is not eager to work in China. China is already experiencing record levels of youth unemployment at 18.9% as of August 2025. Around 12.22 million university graduates in China entered the workforce this year, up from 430,000 in 2024, and the competition is intensifying as the number of available jobs declines.
China also produces over 77,000 STEM PhD graduates each year, nearly double that of the US. Naturally China would like to attract Indian graduates as they are receiving the bulk of the burden of the H-1B visa change and 34% of all graduates in India have a background in STEM. India excels in IT services, electronics, biotech, and software. China has more opportunities in AI, semiconductors, manufacturing, and robotics.
However, China does offer a much higher salary for these workers than India. In fact, salaries in STEM in India are 2-3X lower compared to China despite working longer hours. China also offers more protections, such as medical benefits, paid leave, and retirement benefits.
The current flow of Indian graduates relocating to China is relatively low compared to those relocating to the US. Those who think US companies are xenophobic have not worked with China. The environment is not exactly welcoming to foreigners. China may take on additional workers who are denied access to the US workforce, but it will not be significant. Specific niches and fields may spark interest as China is becoming a superpower for clean energy and robotics. Yet, global talent will not flock to China for employment, and the K-visa in no way compares to the visa that provides a work opportunity in America–at this stage in time. The matter may be different as we approach the end of the Sixth Wave–2032–when China dethrones the US to become the financial capital of the world.
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