Published on Nov 30, 2018
QUESTION: Did Obama throw Fox News out of the press conferences?
HJ
ANSWER: No. That is not true. Obama hated Fox News just as Trump hates CNN. Obama called Fox “destructive” for the country. They are just lucky I am not President for I would immediately restore the Fairness Doctrine and force them all to present an UNBIASED balanced report. We like in the world of FAKE NEWS because everything is twisted to the political views of the journalist – that is NOT what free press was all about.
All the hype over Alexandria Ocasio-Cortez who was elected and waiting to take office come January is interesting insofar as the Democrats saw her as the future of the Party, they really have to take a closer look. She compared the caravan from Central America to the Jews fleeing Germany. Republican Sen. Lindsey Graham of South Carolina had some words of advice for Alexandria Ocasio-Cortez. “I recommend she take a tour of the Holocaust Museum in DC,” Graham tweeted. “Might help her better understand the differences between the Holocaust and the caravan in Tijuana.”
It looks like we are going to have some interesting crazy dialog coming out for the next two years.
The press is all abuzz about the suicide rate is up 33% in 20 years and they blame the lack of funding as if this alone will cure the problem. They never seem to simply correlate this with economics. Now we have more than 47,000 Americans committed suicide in 2017, according to the Centers for Disease Control and Prevention. They also said that this is contributing to an overall decline in U.S. life expectancy rate. Even in Japan, there is a place known as the Suicide Cliffs. People jump from the cliffs in Japan cyclically. They jump during financial crises more than during any other period. They also will commit suicide when winter ends and the sun returns. People then see the requirement of returning to a routine they view as their torment and misery. In Japan, the intense pressure of Japanese schools has also been seen as a major contributing factor.
As the largest continent in the World, Asia accounts for about 60% of World suicides with China, India, and Japan accounting for about 40% of the World’s suicides. On an international basis, there are about 1 million suicides that take place every year. The difference in the suicide methods between the Western and Asian countries is rather significant. While in financial centers jumping from buildings also took place in New York and Chicago during the Great Depression, there were also jumpers in Japan from the Panic of 1990. The use of firearms is the favored suicide method in many Western countries, but not in Asia perhaps due to the lack of access. Asian suicides often take the form of pesticide ingestion, charcoal burning, and self-immolation. Hanging seems to be also a leading suicide method both in the East and the West, as well as in prisons. Prison suicides will also take the form of deliberately trying to create a lethal confrontation with someone to get killed as they are compelled to engage in self-defense.
Suicides correlate to economic hardship which can be personal or imposed upon by society and the business cycle. The higher the tax rate and the lower the standard of living is also a key factor for people will be driven to commit suicide facing economic failure. As the world economy continues to decline in real growth, it is not surprising that the suicide rate has increased by 33% since 1999 in the United States alone. This trend is part of the cycle. When people face that decision of whether to stay or to go into the light seeking relief and peace, sometimes they will take their entire family with them because the pain is so great yet they have responsibilities they also cannot leave behind. They will take their family in their mind relieving them of the same pain.
QUESTION: Hi Marty,
I wanted to ask you if you know anything about the LEI (legal entity identifier) that brokers are now requesting from clients who trade forex and other derivatives and who have accounts under a business structure?
I recently opened a trading account under a business structure (company/trust) and was only told yesterday I have a month to get an LEI (which I have to pay for myself and renew every year) otherwise I cant trade.
I have tried to gather info on it but there is only limited info and it is mainly info from the perspective of the reporting entities (such as brokers) and virtually nothing from the traders perspective. It seems like something that has been imposed by the EU.
I was wondering if you have also had to obtain an LEI?
Cheers
D
ANSWER: A Legal Entity Identifier (or LEI) is a 20-character identifier that identifies distinct legal entities that engage in financial transactions. The LEI is a global standard, designed to be non-proprietary data that is freely accessible to all so they can track what entities are doing worldwide. More than 600,000 legal entities have registered from 195 countries. This was created as a consequence of the 2007-2008 Financial Crisis. It is interesting how all governments manage to expropriate more power and control with each financial crisis. It was the CDOs created by Goldman Sachs which blew up the world just as the Black & Schol models in options blew up the financial world back in 1998 with the Long Term Capital Management crisis. But the legal entities that have created these catastrophes are NEVER punished. Not a single entity lost its license and not a single director ever when to jail. The people who blow-up the world are always UNTOUCHABLE and the rest of us lose our rights and freedom in the process.
The argument back during the 2007-2009 financial crisis was that there was no way to identify corporations and financial institutions to recognize the counterpart corporation on financial transactions. Therefore, the GOVERNMENTS could not figure it out while the counterparties knew who they were dealing with and accepted their credit position. Accordingly, it was impossible for governments to identify the transaction details and track the money flows of individual corporations and institutions. Governments argued they needed a simple identification method of everyone in the world.
In 2011, the G20 (Group of Twenty) called on the Financial Stability Board (FSB) to provide recommendations for a global Legal Entity Identifier (LEI). They wanted a cross-border entity to track everyone in the world. This led to the development of the Global LEI System which began issuing these LEIs to create a unique identification of legal entities acting within the entire world economy. The G20 claims this is necessary so they can know the total risk amount in a crisis. However, the G20 is still incapable of estimating individual corporations’ and the financial institution’s amount of total risk exposure. They are incompetent when it comes to analyzing risks across the entire global marketplace. They cannot even resolve the failing financial institutions in Europe because of local regulation that prevents cross-border solutions within the Eurozone.
The G20 blames this lack of knowledge was one of the factors that made it difficult for the early detection of the financial crisis, they will NEVER act to prevent anything in the first place. Adding more regulation simply reduces liquidity and shrinks the world economy. The G20, in response to these inabilities of financial institutions to identify organisations uniquely, claim that was the problem so that their solution was that financial transactions in different national jurisdictions can be fully tracked. Currently, the ROC (Regulatory Oversight Committee), a coalition of financial regulators and central banks across the country, cannot possibly act in advance for they fail to comprehend the dynamics of the world economy.
Hence, this is just another means of collecting data to be able to hunt for global taxation.
British Members of Parliament will vote on Theresa May’s sketchy Brexit deal on Tuesday 11th of December. The U.K. House of Commons is set to debate the pact for five days. More than 100 members of parliament have indicated they could vote against the deal.
Nigel Farage appears on Fox News to discuss the deal that Theresa May has constructed.
QUESTION: Mr. Armstrong; Your forecast that the capital flows would shift from the EU to the USA I believe has been confirmed by both the European bond markets and share markets. The German DAX is trading below the low created in 2017 while the USA is trading above it. Is this confirmation that your models are indeed correct on global capital flows?
HJG
ANSWER: Yes. It is amazing to me that people will argue with me and claim I am wrong yet they never bother to just look at the charts. The Dow and S&P500 index, however, are trading below the 2017 high. The capital flows have been rather intense. Because interest rates have been negative in Europe, the capital has been fleeing around the world. Spanish banks were buying Turkish debt and pension funds were running to buy farmland in Australia and then rented it out to farmers at 5% annually Lowering interest rates to negative by the ECB has created one huge mess in international capital flows. The capital went everywhere BUT Europe and the ECB ended up buying the bulk of government debt because they singlehandedly destroyed the European bond market. Just total insanity!
What I have found totally shocking is that the British government under Prime Minister Theresa May is this need to surrender all rights just to remain in the customs union. She has not figured out that the UK has been at the top of the list of the European Union’s ‘Big Four’ economies in terms of economic growth ever since it has voted for BREXIT. The third-quarter Gross Domestic Product (GDP) growth grew by o.6%, while Germany’s economy shrunk by -0.2% and France came in at 0.4%, according to estimates published by Eurostat. Italy saw ZERO growth.
It is really astonishing how Britain cannot negotiate to save its very life. Under May, the negotiations are tieing the UK to a sinking ship and there is really nothing any rational person seems capable of doing. Meanwhile, Brussels is so desperate to punish Britain to set an example in hopes of deterring others from leaving. The UK is the BIGGEST market for German autos in Europe. We are looking at the economic decline of Europe into 2020 which may even be a rather hard landing.
The Ukraine/Crimea/Russia crisis flares up again today as Russia blockaded the Sea of Azov then fired upon three Ukrainian naval ships who attempted passage Sunday. After wounding several sailors, the Russians then seized the three boats; igniting another crisis between the two countries and initiating an emergency U.N. Security Council meeting tomorrow.
The EU and NATO alliance will likely call for U.S. assisted military intervention of some sort. The structure of the Ukrainian government is full of western intelligence assets; and once again we can expect the professionally republican and professionally democrat to unite in common cause and demand we go to war….
Russian jet fighters fly over a bridge connecting the Russian mainland with the Crimean Peninsula with a cargo ship beneath it after three Ukrainian navy vessels was stopped by Russia from entering the Sea of Azov via the Kerch Strait in the Black Sea, Crimea November 25, 2018. REUTERS/Pavlishak Alexey
(Reuters) Russia’s FSB security service said early on Monday its border patrol boats had seized the Ukrainian naval vessels in the Black Sea and used weapons to force them to stop, Russian news agencies reported.
The FSB said it had been forced to act because the ships – two small Ukrainian armored artillery vessels and a tug boat – had illegally entered its territorial waters, attempted illegal actions, and ignored warnings to stop while maneuvering dangerously.
“Weapons were used with the aim of forcibly stopping the Ukrainian warships,” the FSB said in a statement circulated to Russian state media.
“As a result, all three Ukrainian naval vessels were seized in the Russian Federation’s territorial waters in the Black Sea.”
The FSB said three Ukrainian sailors were wounded in the incident and were getting medical care. Their lives were not in danger, it said.
[…] Ukrainian President Petro Poroshenko met his top military and security chiefs. Poroshenko said he would propose that parliament impose martial law.
Russia annexed Crimea in 2014 and then built a giant road bridge linking it to southern Russia that straddles the Kerch Strait – a narrow stretch of water that links the Black Sea to the Sea of Azov, which is home to two of Ukraine’s most important ports.
Russia’s control of Crimea, where its Black Sea Fleet is based, and of the bridge mean it is able to control shipping flows.
The crisis began on Sunday after Russia stopped the three Ukrainian ships from entering the Sea of Azov by placing a cargo ship beneath the bridge. (Read More)
The IMF has recommended that all Central banks should issue their own cryptocurrencies. Indeed, they are looking at using Block Chain to keep track of taxes and to enforce negative interest rates with cryptocurrencies which would allow them to impose negative interest rates whenever necessary. With adopting cryptocurrencies that governments would control, we will come one step closer to losing all our freedom. Central banks could enforce negative interest rates with cryptocurrencies and thus people would find their accounts just garnished. You could not hoard cash and withdraw it from banks. They are also looking at this as a way to manage a banking crisis stopping runs on banks. This technology is also causing those in the hunting of tax revenues to lick their lips.
The issuance of digital currencies would allow central banks to remain in control of the money supply far more so than they are today. Sweden is moving forward and there we see that the use of cash is rapidly disappearing.
Cryptocurrency technology would allow also the taxman to just cometh and take whatever he desires in the midst of the economic crisis we face. The Central Banks would be able to maintain greater control over the creation of money through the process of leverage (bank lending).
While policymakers in Canada have already researched the idea, other highly socialist governments are doing the same. The IMF head Christine Lagarde called on central banks to focus on issuing digital currencies. All of this attention is being applied as the fear of rising interest rates in the marketplace is really beyond the control of central banks. They are also in fear of what to do in a banking crisis that is inevitable in Europe. It is true that central banks can control the short-term rates, but long-term rates are established by the free market. This is why the Federal Reserves was buying in 30-years bonds hopefully to impact the long-term rates which the Fed cannot directly control.
The best thing to do now is to hoard paper US dollars if you are particularly in Europe
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