Value of a Currency


QUESTION: Hi Mr. Armstrong,
You have said that money is not gold, or silver, or oil, or fiat currency, but rather represents the collective elbow grease and ingenuity of a people. From the work of Socrates, which country or countries best typify this concept and therefore will become the better countries to live in, so that we may guide our families and children in that direction?
As always best to you and your vision, and thank you.
MB

ANSWER: What made America great was not our resources. The Silver Democrats tried to force a higher silver to gold ratio and were bribed by the silver miners. When the world was on the gold standard, that dictated the value of a currency in international FOREX markets because the value of the currency was just the metal content. Napoleon attempted to create that standard and the idea, known as the Latin Monetary Standard, was used after his defeat where the coins were all of the same weight and purity.

However, great disruptions to this standardized system of metals repeatedly led to major economic upheavals. The economy of Florence suffered from the tremendous economic crisis and people were burning down the houses of bankers because they blamed them without understanding the real cause. Due to the war between France and England, the French debased the coinage. This drove the price of silver up dramatically where there had been a two-tier monetary system — gold for international transactions and silver for domestic. Since wages were paid in silver, as the price rose, employers could no longer afford to operate and the economy crashed with a vast rise in unemployment.

Only after World War I and II did modern society begin to see that the value of a currency was not simply the metal content. There was a premium even over gold’s value attributed to the Romans, as was the case with silver and the Greeks. This is proven by so many surrounding nations imitating their coinage with the same metal content and weight showing that there was a premium over the raw metal.

China, Japan, and Germany all rose from the ashes because their people were productive. Once the unions began and extorted higher sums of wages beyond competitiveness, the USA began to see its labor move offshore for it was overpriced relative to the world because of also taxes on labor — not merely the hourly wage.

Adam Smith in his “Wealth of Nations” saw that it was not simply metal. If a farmer or candlestick maker sold something from London to Paris, they both returned with gold. It was the value of their labor that mattered.

Unfortunately, the socialists are leading the charge and have conspired together to bring down the economy to force political change. They are also weakening the West and inviting war. Just as Rome saw its economy decline sharply within 8.6 years during the 3rd century, the barbarian invasions began. These socialists have no idea what they have unleashed. The world economy will NEVER be the same all because of a pretend virus that has a death rate of 10% of the annual flu.

Unfortunately, the baton will pass to Asia. The West will be engulfed in civil strife. The Socialists have killed the economy precisely as did the communists during their revolutions in Russia and China. We have a turning point in 2021 even for Russia.

Industrialization in the Soviet Union was a process of accelerating the industrial potential of the Soviet Union to reduce the economy’s lag behind the developed capitalist states, which was carried out from May 1929 to June 1941.

The official task of industrialization was the transformation of the Soviet Union from a predominantly agrarian state into a leading industrial one. The beginning of Socialist industrialization as an integral part of the “triple task of a radical reorganization of society” (industrialization, economic centralization, collectivization of agriculture and a cultural revolution) was laid down by the first five-year plan for the development of the national economy lasting from 1928 until 1932.

In Soviet times, industrialization was considered a great feat. The rapid growth of production capacity and the volume of production of heavy industry (4 times) was of great importance for ensuring economic independence from capitalist countries and strengthening the country’s defense capability

Martin Armstrong against the Banks to the Supreme Court Status?


Armstrong Petition for Rehearing

Many people have written to ask if they can write to the Supreme Court because this is a battle for all of us against the bankers. I guess the more the merrier. I do think if the Supreme Court would take it, they would have to at least address what everyone knows — bankers walk on water and it’s not because they do not know how to swim. They swim in the swamp very nicely. Perhaps it would be the first shot fired in the battle to restore our Constitutional rights. I believe we will still have the right to freedom of speech for a little while longer, so those who want to write to make their voice heard, go ahead.

Supreme Court of the United States

1 First Street, NE

Washington, DC 20543

RE: Martin A. Armstrong v SEC et al (19-392)

Justice Sotomayor recused herself from my case because she had written the separate opinion below that said I was still entitled to Due Process, which in reality had got me to the Supreme Court the first time. That was the only reason why they had to release me for fear that the Supreme Court would rule. With Sotomayor recusing herself when she had ruled against the government on my case when she was on the 2nd circuit court of appeals, that means we would be down to 8 justices with only a more difficult position 4 – 4.


There are people who are desperately trying to dissuade people from listening to me because they cannot debate the message. They are usually paid to be against everything we are supposed to stand for in a free society. They have lied about everything and desperately tried to hide the truth. This makes one wonder, what is their motive? They never want to tell the truth that the bank stole the money. I never had to pay a dime, and all I ever had to say in court was that the bank took the money for its own benefit. Then I was gagged for life to prevent me from helping my clients. This is the truth they want to hide from the public and that includes those controlling Wikipedia.

Many people have also written in to ask what is going on in the Supreme Court. The government has been pleading not to hear the case. The New York boys keep the misrepresentation going and never want to discuss the fact that the bank had to plead guilty and return the money ($606 million) in return for no one from the bank being personally charged – as always.

They also could not hide the fact that the notes were issued in Japanese yen, not dollars, so where a receiver is supposed to gather all the money, in this case, they sold the notes to the bank and the bank redeemed the notes keeping a $400 million profit in the currency which belonged to Princeton Economics International.

 

The SEC admitted that there was more money in the company than needed. They also claimed that all the evidence was destroyed in the 911 attack, which included all the tapes they seized claiming “perhaps” they would lead to missing assets when I warned that would reveal the criminal activity of the bankers they were protecting.

I owed no restitution. The government was trying hard to use two accountings, one in dollars for me and one in Japanese yen for the bankers. They did this knowing full well that they were attempting to engage in fraud upon the court. They lost that one.

The government did not like that Judge McKenna was trying to protect me and saw through the crime that the prosecutors were pulling off on the public and the courts for political purposes. They went to the Chief Judge Mukasey and had Judge McKenna removed. They sealed the docket sheet so nobody will ever know how they got rid of Judge McKenna because he was ruling against them.

 

The ultimate fraud upon the public was to impose a lifetime gag order on me to prevent me from helping my clients against the bank that ultimately had to plead guilty and repay the money they stole. The government controls Wikipedia and refuses to ever mention the bank had to plead guilty. Anyone who tries to edit Wikipedia is immediately removed proving it is just controlled propaganda which is why nobody should EVER donate a dime to Wikipedia – it’s just controlled propaganda for political purposes when it counts.

The civil contempt was used to force me to plea for I was never entitled to a trial. The government said I could be held in prison indefinitely until I die and even denied me a lawyer. That was inside a tower in New York never being above to see grass again or feel rain. The compromise was that I would plea but refuse to ever say I stole anything. All I had to say to end the confrontation was about the bank stole the money – not me.

My plea was that I failed to tell my clients, over a weekend, that the bank had stolen the money “for its own benefit“. The government withheld every piece of exculpatory evidence possible, including this tape which I found a copy of in my mother’s basement when I was released. This is me talking with one of the people at Republic about who was moving money in my accounts. It was obviously not me, and I was clearly not in some conspiracy with the bankers.

Audio Player

In order to even do the documentary film on me, “The Forecaster,” they had to (1) verify the facts, (2) have the film insured against any slander liability, and (3) the gave the government the opportunity to give their side and they refused to appear. To get that insurance from Lloyd’s of London, everything had to be proven right down to the fact that this written correspondence demanded I turn over the source code to Socrates. I refused.

There are some things in life worth dying for and I was not about to see my life’s work end up in the hands of Goldman Sachs. Goldman Sachs was running Princeton Economics from its boardroom since the receiver appointed by the court was Alan Cohen, became a board member of Goldman Sachs, I believe, as a reward for seizing all the tapes and protecting the bankers. Cohen is now the #2 guy running the SEC.

My case has long stood as a warning why you should NEVER have an account with any of the New York banks. They can actually do whatever they like and the New York court will ALWAYS protect the bankers. Never has a single banker EVER been criminally prosecuted for any of the major crashes since 1998 and the Long-Term Capital Management crisis.

Perhaps this is just the doom of the United States. It is the SWAMP that Trump has talked about, but not even he understands how deep that swamp really is. Our future actually rides on this case. If we cannot stand up and expose the banker even ONCE, there is no hope that our future will ever be bright again. There is no right to equal protection of the law. There is no right to a trial by jury, to your lawyer, to anything. It is all simply the discretion of a judge. This is the sad statement the is reminiscent of the complaint of Thomas Jefferson in the Declaration of Independence.

He has obstructed the administration of justice by refusing his assent to laws for establishing judiciary powers.

 He has made judges dependent on his will alone for the tenure of their offices and the amount and payment of their salaries.

For protecting them (his agents), by a mock trial, from punishment for any murders which they should commit on the inhabitants of these states;
… establishing therein an arbitrary government,

 

History Repeats – Always because ultimate power leads to ultimate corruption.

 

Rank and Vile – DOJ Inspector General Identifies 93 Percent Non-Compliance Within FISA Review – Issues So Bad IG Presents Interim Report Before Reviewing Details…


After the DOJ Offfice of Inspector General (OIG), Michael Horowitz, presented his December 2019 findings of the FISA application used against U.S person Carter Page, the gross deficiencies and intentional fraud were so extensive the IG said he was going to review a sample of FISA applications to identify if the fraud and abuse was widespread.

The OIG began reviewing FISA applications from eight field offices (the proverbial “rank and file”).  The OIG selected 29 FISA applications from those field offices over the period of October 2014 to September 2019.  Additionally, every field office and the DOJ-NSD generate internal “Accuracy Reviews”, or self-checks on FISA applications; so the OIG inspected 42 of the accuracy review FISA files to determine if they were compliant.

The results were so bad the IG produced an interim memorandum to the DOJ and FBI [pdf link here].  Within the 17-page-memo the IG notifies Attorney General Bill Barr and FBI Director Chris Wray that all of the claimed FISA processes, in every field office, are grossly deficient, and in most cases there is zero compliance with FISA standards.  The IG memorandum is presented before the IG even looks at the specifics of the non-compliance.

Below is the report/memorandum.  Additionally I am summarizing the stunning top-lines identified by the IG memo:

  • The IG reviewed 29 FISA applications, surveillance warrants, used against U.S. persons.
  • The 29 FISA applications were from eight different field offices.
  • The FISA applications were from Oct/2014 through Sept/2019.
  • All of the FISA applications reviewed were approved by the FISA court.

The ‘Woods File’ is the mandatory FBI evidence file that contains the documentary proof to verify all statements against U.S. persons that are contained in the FISA application.  Remember, this is a secret court, the FISA applications result in secret surveillance and wiretaps against U.S. persons outside the fourth amendment.

♦ Within the 29 FISA applications reviewed, four were completely missing the Woods File.  Meaning there was zero supportive evidence for any of the FBI claims against U.S. persons underpinning the FISA application.  [ie. The FBI just made stuff up]

♦ Of the remaining 25 FISA applications, 100% of them, all of them, were materially deficient on the woods file requirement; and the average number of deficiencies per file was 20.  Meaning an average of twenty direct statements against the target, supporting the purpose of the FISA application, sworn by the FBI affiant, were unsubstantiated.  [The low was 5, the high was 63, the average per file was 20]

♦ Half of the FISA applications reviewed used Confidential Human Sources (CHS’s).  The memo outlines that “many” of applications containing CHS claims had no supportive documentation attesting to the dependability of the CHS.

♦ Two of the 25 FISA applications reviewed had renewals; meaning the FISA applications were renewed to extended surveillance, wiretaps, etc. beyond the initial 90-days.  None of the renewals had any re-verification.  Both FISAs that used renewals were not compliant.

But wait… it gets worse.

The DOJ and FBI have an internal self-check mechanism.  The DOJ National Security Division (DOJ-NSD) chief counsel, and the chief counsel for every FBI field office are required to conduct an “Accuracy Review” of selected FISA applications.  One per field office (25 to 30 field offices),which are also sent to DOJ-NSD (main justice) for general counsel inspection.

Keep in mind, these “accuracy reviews” are known in advance, so the FBI has all the time in the world to select the best FISA file for review.  Additionally, I surmise the OIG wanted to inspect the “accuracy review” FISA’s because they would show the best light on the overall system itself.  The OIG was looking for the best, most compliant, product to report on.

However, when the OIG inspected 42 of these Accuracy Reviews, the IG identified that only three of them had accurately assembled documents (Woods File) supporting the application.  The error rate within the files self-checked was over 93%.

So the best FBI files are selected to undergo the FBI and DOJ-NSD accuracy review.  The accuracy review takes place by FBI legal counsel and DOJ-NSD legal counsel.  However, the IG finds that only three FBI applications in the accuracy reviews were compliant.

The error rate in the files undertaken by the internal accuracy review was over 93% (3 compliant out of 42 reviewed).  These were the FISA files with the greatest possibility of being accurate.  Let that sink in…

Here’s the OIG Report/Memorandum: