COMMENT: I cannot affirm that Boris has read your book Manipulating the World Economy, but it has been seen in 10 Downing Street.
Annonymous
REPLY: I don’t doubt that. There was a group buying copies to send to members of Parliament.
QUESTION: Marty, they do not call you the legend for nothing. You nailed the crash earlier in the year and the very day of the low on March 23. Now your call for the September 3 target was again to the day. In the middle of this chaos, gold has not performed well. Given this is 21 years up, that does not give a lot of confidence for a continued rally just yet. Will you be doing the gold report soon?
HD
ANSWER: This year was a Directional Change for gold and the next turning point in 2022. Most of the volatility on gold appears to be the first six months in 2021. You must understand that this is far more than just a war against Trump to conquer Capitalism and impose drastically higher taxes and this New Green World Order that Bill Gates wants to eliminate meat production along with fossil fuels. The number of active oil wells in Texas has fallen from the 400 level to about 100. This is creating a massive shortage in everything from food to energy.
The first sports arena to open in Las Vegas is making it very clear – NO CASH accepted. They are actively making money scarce and telling everyone cash is dirty and spreads this life-threatening virus. This hoax is being carried out to usher in the cashless society so they can collect their 70% tax rates by force.
In Thailand, there were 58 deaths from this virus, yet 2,551 suicides because of losing everything. This virus has impacted absolutely everybody. No politician in their right mind would do this unless they are being bribed.
There remains a serious risk to the gold market that they will once again make it illegal. You must realize if they are trying to eliminate cash to force everybody back into banks so they can tax you, why would they allow gold or private cryptocurrencies to compete? Pay attention! California is trying to create RETROACTIVELY a wealth tax proposed by Elizabeth Warren on the advice of the French Marxist economist – Thomas Piketty. A wealth tax FORCES you to tell them ALL your assets EVERYWHERE even if in storage offshore. These are policies that the Democrats are championing and it will drive gold underground.
So, the answer is YES! I am preparing a very important report on precious metals.
Anyone who thinks that this has not been orchestrated is delusional. I warned that our computer picked up this plot beginning in late August 2019. European politicians have gone along with Gates for one reason. The Repo Crisis began because Merkel publicly made it clear that there would be no bank bailouts in the Eurozone. That was because of the Italian banking system. But then Deutsche Bank was in trouble and she has to maintain that same policy.
Therein began the Repo Crisis. US banks would not lend in the REPO market to any European bank for fear if a collapse took place, they would be stuck with losses the Eurozone would not cover unlike the aftermath of the Lehman Brothers Crisis. Hence, the Fed had to step in and provide lending in the REPO for European central banks.
Consequently, creating this FAKE Pandemic has been the life-preserver for Europe. This has masked the banking crisis and justified now buying banking stocks, which is the indirect bailout, and the elimination of cash in Europe will force everyone to return to the banks. They need this HOAX to cover the banking crisis, but in the process, they have created a huge nightmare they did not foresee.
Suspending rents and preventing evictions while they imprison the population in lockdowns with no real pandemic which German Health Minister just had to admit, has undermined the banking system even further, Now they are talking behind closed doors about forgiving past rents for tenants. That does not address the collapse in commercial property. That is raising the Marxist issue of perhaps they should just confiscate those rental properties by nationalizing them.
The ideas being bounced off my ears are too absurd to think about. None of them propose a return to a gold standard – sorry!
These Democratic state governors have been so draconian in suppressing their economies for political purposes. Then they have the audacity to turn around and raise taxes to cover the losses in revenue. New Jersey raised gasoline taxes. California is trying to install the first wealth tax, thanks to the French economist Piketty. But California is looking to raise its income tax to 54% on the richest people. Their state income taxes, already the highest in the nation at 13.3%, is proposed to be raised to 16.8% RETROACTIVELY to pay for this plandemic.
In Tennesse, Davidson County’s property tax rate has been raised sharply from $3.155 to $4.221 per $100 of assessed value in the city’s more urban areas. For a home appraised at $250,000, that would mean an increase of about $666.25 per year. They are chasing people out of cities, and like the fall of Rome, they will keep raising taxes rather than reduce their own expenditures, which are driven by pensions. That is a 34% increase in property taxes.
The Center for Budget & and Policy Priorities is telling states to raise income taxes on the rich. They recommend: “High-income tax increases can generate substantial revenues for investments in people and communities that provide economic and social benefits over the long term.” New York City and Chicago are experiencing a flight of the rich. They get no safety and cannot leave their homes at night, and these people recommend raising income taxes on them sharply. The Wall Street Journal has reported, “Even Joe Biden would raise the top marginal rate on work to over 50%.” Our sources are saying they want to return the income tax before the Regan tax cuts to 70%.
Just who are these “rich” people the Democrats hate so much? About 9% of the households in America have income greater than $200,000. That is the husband and wife combined. They get almost 45% of all pre-tax income, according to the Tax Policy Center. Then there are the really rich, which include most politicians. They account for the top 0.4% of households, which works out to about 700,000 in total. These are households that have incomes greater than $1 million a year. They tend to earn 13% of all pre-tax income.
With the Reagan era, since the 1980s, those at the very top have experienced faster-growing incomes than the rest of America BECAUSE they are investors. This statistic is never explained, but the stock market and inflation have accounted for the bulk of these gains. The government prevents the average person from participating in investments because Social Security is just a slush fund for politicians — government bonds only.
The Congressional Budget Office estimates that the best-off 1% of American households that have an average annual income of $1.8 million (base on 2016 statistics) saw their inflation-adjust incomes before taxes nearly triple between 1979 and 2016. This is clearly the rise in the stock market and real estate values. Then, 9% of households benefited from investments by 75% while everyone else saw their pre-tax incomes rise by 33%. They will not address that the lower the income, the more government prevents them from investing for their retirement by seizing money for Social Security. If you are late on paying, they charge you interest far above any bank, but will never pay you interest on the money refunded. Taxes are always a one-way street.
The rich generally pay far more of their incomes in taxes than the average person thanks to the progressive nature of taxation. The top fifth of households got 54% of all income and paid 69% of federal taxes; the top 1% got 16% of the income and paid 25% of all federal taxes, according to the CBO. These statistics are skewed because the government benefits such as Social Security, food stamps, and welfare are never part of the analysis. The Marxists try to focus only on the remaining income for taxes and behind closed doors think it all belongs to them. It’s only a question of what they allow the great unwashed to retain.
The Democrats putting forth legislation to create the Digital Dollar. This is all part of 5G so there can be instant payments that are required when it comes to eliminating paper money. This is the goal to ensure people pay taxes and to eliminate the underground economy. Interestingly, the illegal aliens they defend so much work for cash under the table. Anyone without a Social Security number will be prohibited from working. But what the heck. They will get 110% of the taxes they think people do not pay.
QUESTION: In regards to your last post about Bitcoin and your comment that there may be a “threat regarding gold”, as well. What kind of threat do you think? If you own precious metals as a store of value and assume at some point you may need to use it to pay for things, they may have to get turned into dollars (or an alternative digital currency being forced) in order to buy products. My thought is that there will be a tax law passed that somehow taxes gold/silver when you sell it, not necessarily based off the capital gains. What is your take on this and what do you see the government potentially doing to discourage, force an alternative, or even ban people from having precious metals? Thanks for all your insight.
B
ANSWER: Gold bullion was listed as a black market circumventing Bretton Woods. They seized $38,000 in gold bars from a woman crossing the Canada-US border. You already cannot transport gold internationally. What most people do not realize is that even hopping on a plane, even on a domestic flight, carrying more than $10,000 in cash gives them the right to confiscate it. They confiscated $181,000 in cash from a man on a domestic flight.
Therefore, the risk is that they go beyond simply confiscating gold in transport, but they move to even shut-down physical dealers who already must report on transactions. They can plainly make gold illegal in transactions just as they now make it illegal to pay for even a hotel in cash with more than €1,000.
The Phillips Curve states that inflation and unemployment have an inverse relationship. Higher inflation is associated with lower unemployment and vice versa. The Fed is actually recognizing that the Phillips Curve is dead. I have been warning that the Quantity Theory of Money is also dead because all the tremendous increases in the money supply since the Great Recession 2007-2009 has failed to produce inflation or stimulate the economy. Instead, this has led to negative interest rates since 2014 which have undermined the entire Keynesian Model as well.
This is why the book I put out Manipulating the World Economy keeps selling out. All three editions are gone. Every time Amazon listed the books, they were gone in less than 3 hours. All of these theories were dealt with and this book has had a major impact already. Of course, the goldbugs and Bitcoin advocates hate my guts because it does not support the old theories they rely on which indeed were the VERY SAME theories used by the central bankers which have failed. This has led to many deep conversations about how these theories no longer work and what is the future.
The media is portraying the Fed will create inflation now in a big way. Those forecasts are still relying upon these old theories which have failed to produce anything these projections said were going to happen including hyperinflation.
CNBC claimed that the Fed was going to deliver a major speech that would change the way the Fed views inflation and that this will somehow effortlessly restore everything back fo a normal inflation level. Missing in all of this remains CONFIDENCE. Not until people begin to look at these theories and how they have failed as is taking place in central banks behind the curtain, they will not grasp the risks of the future.
We have been battling in Europe over our report produced by Socrates on Bitcoin which the banks seem to be throwing into the same category as banned countries. Below is an excerpt from the clearing bank in Europe which is even banning Israel putting it in the same category as Iran and North Korea. The credit card companies refuse to allow us to sell any reports to these listed countries below as well as the Bitcoin report. Anything to do with Bitcoin is being regarded as potentially illegal.
We have attempted to talk to the regulators on this matter and they are throwing it all into the same bin – selling bitcoin or reporting on bitcoin. This appears to be what I have been warning about that in moving to eliminate paper money and force everyone into their new digital currency in the wings within Europe, is a warning about cryptocurrencies in general and there is also a threat on the horizon regarding gold. The EU will not tolerate any competition for the object of canceling the currency supported by the Great Rest and Bill Gates, is to prevent any form of alternative money.
This sudden policy of throwing even commentary on Bitcoin into the same category as dealing with Iran or North Korea is just shocking. Trying to explain this is simply commentary and not buying or selling Bitcoin seems to go nowhere. They pull anything off YouTube that goes against the Great Reset. It appears they are perhaps preparing for the same action in Europe against cryptocurrencies.
We responded:
topic – Bitcoin is merely the name of the asset subject being discussed! I am happy to seek advice directly from the UAE Central bank for clarification on the Bitcoin issue if you think that would help?
The below is an excerpt they insist we sign.
The Merchant undertakes that under no circumstance, shall Iran, Israel, North Korea, Cuba, Syria & (or) Crimea (restricted countries/regions) related business activity, directly or otherwise, be routed through any of its Merchant Account(s) maintained with Telr. This undertaking equally applies to business activity relating to Sudan (North) where there is any US element such as but not limited to; USD, US territory or person, US owned / controlled entity or US origin goods. Business activity includes, but is not limited to:
COMMENT: I live in central West Texas, I am passing on to you the fact that there is a “rush” of sales in rural property’s. Houses with small amounts of land attached are “flying off of the shelves” so to speak. This is occurring throughout all of West Texas and in the Panhandle. The effort to getting out of the cities. Even cities as small as 25,000 is in full swing! People are well aware of the potential of what is in the near future and are not sitting around wondering what they should do.
They are acting!
J
REPLY: There is a massive exodus from California and New York in particular. Even in North New Jersey, houses are selling in just days and over asking prices for cash. People are bailing out of New York City in herds. Here in Florida, condos are selling as fast as they can get them up in St Petersbourg. These lockdowns and COVID restrictions that are insane in the major cities have set in motion a massive exodus that these authoritarians never anticipated. As they flex their muscles to try to make this so draconian over nothing, they are complete the cycle which has been pointing to the collapse of urbanization, and the rich will flee.
One of my favorite stories of the Sovereign Debt Crisis is the City of Mainz, in Germany, around 1440. The goldsmith Johannes Gutenberg invented the printing press, which began the Printing Revolution that enabled the Renaissance to flourish with the printing press which could produce up to 3,600 pages per workday compared to the hand-copying by scribes which would produce only about 40 pages per day. The printing press then spread within several decades to over two hundred cities in a dozen European countries. Mainz exploded economically and quickly the politicians were licking their lips with visions of new tax revenue without end. They began borrowing against future tax revenue since they learned how to spend the money faster than it could be collected.
As the politicians of Mainz kept raising taxes because they could not pay their debts, they began to issue new debt to repay the old as we do today. Suddenly, they drove people out because of their taxation as we are witnessing once more. Then the politicians could not sell new debt to pay for the old and that is when then defaulted. The Pope excommunicated the politicians for their abuse of Usury and then the creditors simply invaded, sacked the city, burned it to the ground. No doubt, this is the fate we will face because politicians are driving their car at top speed without a seat-belt and they never checked the tires.
There is a major flight from the cities and we are witnessing the collapse in real estate in urban centers and suburbia prices are rising as people are paying cash and even over asking prices.
QUESTION: Do you think that cryptocurrencies will be sustainable as governments become pressed for money? What is your view of the dollar? Will it really crash when things are so bad here in Europe?
Thank you in advance
GH
ANSWER: I think it is really naive to believe that cryptocurrencies will survive when we face a sovereign debt crisis, and nobody is interested in buying government debt for the long-haul. Punters believe that rates will go negative, even in Britain, so they are buying bonds at 0.9%, expecting to make a play. Europe, as you know, already ruled that all cryptocurrencies are to be regulated like banks starting January 10, 2020. So there is no hiding money, and by regulating them, these governments can simply seize them at any time and convert them to their own cryptocurrency.
Insofar as China is concerned, cryptocurrencies have not been tolerated by the Chinese government. Initial coin offerings (ICO) were outright banned in China back in September 2017. Many exchange platforms were ordered to be closed. Many exchanges tried to relocate to other jurisdictions. However, China followed the lead from the United States and adopted a long-arm approach to its criminal laws. In other words, organizers and promoters of overseas ICO and exchanges are not free from the jurisdiction of Chinese criminal laws. If the principles are Chinese citizens or if Chinese investors invested in overseas ICO or traded cryptocurrencies on overseas exchanges, they can be subject to criminal laws in Japan just as Americans are prohibited from investing in offshore funds. It is not outright illegal to hold cryptocurrencies or even to buy or sell them in China. But once again, they must regulate all transactions, which leave them vulnerable to a change in policy.
In the United States, the Treasury classified bitcoin as a convertible decentralized virtual currency in 2013, while the Commodity Futures Trading Commission, CFTC, classified bitcoin as a commodity in September 2015. Under the IRS, bitcoin is taxed as a property. Meanwhile, cryptocurrencies must comply with the registration requirement of the U.S. FinCEN as a money services business and, of course, the anti-money laundering (AML) rules. They must also keep records and make reports to FinCEN.
The idea that cryptocurrencies are somehow outside the central banking system is really an old sales pitch. They are not really a store of wealth, for they too rise and fall in value based upon the current events and global trends. It is no different than anything else trading on exchanges. What has to be realized is that this sales pitch that it is somehow the exception to everything is rather strange. The promotion that it will rise with the decline of the dollar you can say for most other commodities, stocks, and gold. The real question is simply its performance relative to other mediums.
Are cryptocurrencies a better hedge against what is coming? No! There are cycles to everything. You have to look at the potential for each market and look for those that will trend together to determine which will outperform the others like the NASDAQ v Dow & S&P 500.
QUESTION: You said the Dollar Index is not valid because it was based on trade 30 years ago. I seem to recall you had your own index. Would you explain the difference and how has this performed lately?
Thank you
GF
ANSWER: The index we use is based, not on trade, but capital flows. To reflect the world rather than just a microcosm, we include 14 currencies compared to the trade-skewed Dollar Index that was crafted back in March 1973, which includes:
The Dollar Index we created is based on capital flows rather than trade. Our base year of 1900 equals 100. The countries included:
We can see that the dollar is consolidating. When we look at the dollar from a broader perspective, the trend becomes much clearer.
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!
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