QUESTION: Hi, Mr. Armstrong I noticed that the national news agency in my country had an article about a local digital currency in Maricá, Brazil. It is called Mumbuca. What I read about Mumbuca sounds good and all that, but I am curious if the news is just conditioning people to a new age of digital currency. Do you have any comments about Mumbuca? Thank you for your time and what you stand for. Best Regards AA
ANSWER: It is important to highlight that Mumbuca is a local digital currency whose name is a reference to the main river and to one of the native peoples of the city. A unit of Mumbuca is equivalent to R$ 1.00 (US$ 0.19). What is interesting is that this is a local city currency much like the Depression Scrip of the 1930s. This is really an experiment of guaranteed basic income. Increasingly, customers in the city don’t pay with cash but with this digital currency. They receive it as part of the town’s basic income program. They pay with a quick scan of a QR code, using their phones. So far, just over 42,000 inhabitants can pay local merchants with Mumbuca.
This is Brazil’s first big experiment with digital currency. Those without smartphones can pay using a card, which has a scannable barcode. They are way ahead of the game and, actually, it is being followed closely internationally.
This year’s World Economic Conference, which Nigel Farage called “the alternative to Davos,” will be held in Orlando on December 4 & 5. We had to cancel Shanghai and Frankfurt this year, but our arrangements with the hotel here in Orlando and politics have opened doors. We will not be able to accommodate the usual 1,000 attendees. This will be a limited in-person session, but it will be more intimate.
Since so many people from overseas may not be able to fly in this year, we have made arrangements to have a virtual conference option for everyone to participate globally. We still have to limit that to a max of 20,000 attendees simply as a matter of technology (sorry, we cannot handle more than that).
From the outset, I have explained that not only did Socrates begin to pick up what has turned into this COVID scam in August 2019, but our HIGHLY RELIABLE inside sources were also already warning that strategic players were selling as early as December of last year, and telling people a “virus was coming.” There are clear warnings within the global economy that we are facing serious upticks in civil unrest in Europe. However, we now have ANTIFA overturning statues of even Abraham Lincoln. Obviously, this has migrated from toppling statues of racists to just pulling down statues of any president which is anarchy.
(Click on Image to see World Markets)
The WEC has been the only truly international conference held since 1985. To see the future of any country requires us to look at the world. As you can see, not every market has been making new highs. Capital flows are ABSOLUTELY critical. We have the ONLY such model gathering the global information of ebbs and flows from all countries and Socrates is writing reports on over 1,000 instruments around the world. This is not about my personal opinion or gut feelings. We have to look at the world objectively and call the shots as the data requires.
o truly see the future this cannot be done on a gut feeling. Nobody is going to be consistent on this one. Our only shot is to see this through the lens of Socrates. What will be critical here is looking at this from a global perspective. Those attending in-person will receive their mug and their autographed copy of “The Cycle of War and the Coronavirus.” Virtual attendees will receive all the digital copies of reports being provided and videos. We have countless separatist movements brewing in Europe, Canada, the USA, and even Australia.
This is going to be obviously an important WEC. We have so much from rising civil unrest, international tensions, governments trying to lock people down, and they are already proposing this as the “new norm,” for lockdowns may be necessary to stop climate change, which has been the real agenda from the start. They think we are stupid. Granted, there are a lot of fools out there who just follow whatever they are told. We have billionaires trying to change the system to socialism to prevent people from ever making what they did to cut off any competition.
Even Schwab’s movie launched in 2019 was skewed to climate change as he was preparing this agenda for the Great Reset. This has been a grand plan.
We are fighting against the fools who think this is just something like a ship that will pass in the middle of the night. The global markets are revealing the trend. It is time for us to listen to the whole and not just one market.
While it might seem frustrating to see republicans and conservatives demanding that President Trump stop talking about the greatest act of sedition and usurpation, within our Constitutional Republic in the history of our nation, this espousal by Andrew McCarthy is factually a very wide-spread opinion within the DC beltway:
Take the intents in their best possible light, and the basic premise is that no-one cares about the abuses of power that took place. National Review article by Rich Lowry is here.
I have shared by own thoughts on this matter several times; and despite knowing this issue may not/will not drive the 2020 election; in my own contemplation I keep coming back to this central question: How can this be ignored?…
… How does the office of a U.S. president; and more importantly the republic itself; survive a coordinated coup effort involving all three branches of government; while simultaneously those in charge of exposing the corruption fear the scale is too damaging for them to reveal?
QUESTION: I thought big police forces are malinvestment just like big government. doesn’t returning to hard money reduce malinvestments?
BF
ANSWER: These people can no longer fund themselves by borrowing. I have been advising in Europe that the Euro could never become a major reserve currency without a single debt. They are now looking at that option and the European Commission is expected to sell consolidated debt into the bond market this month for the first time on a large scale to fund its coronavirus-relief programs. Meanwhile, the European Central Bank on Friday took a step closer to issuing a digital version of the euro. Even Goldman Sachs admits that Biden’s tax plan will hurt the economy. We already have the IRS being investigated for using your location data to tack you for possible hidden assets. Do you really think these people would EVER return to hard money that they cannot spend whatever they want? Socialism would have to end under hard money. This is not a rational expectation from people embracing MMT because they are running out of other people’s money to spend.
We have run out of other people’s money. They are hunting money like a starving animal. They see Modern Monetary Theory as the answer – create money at will under the new theory that there will never be inflation.
U.S. Attorney John Bash, from the Western District of Texas, was given the responsibility by AG Barr of looking into the illegal unmasking by Obama-era officials in July of this year. Not only the illegal unmasking of General Flynn, but more extensive unmasking. Today Bash announced his abrupt resignation. “Abrupt” because he announced today, and he leaves on Friday. However, he does say he informed Barr last month:
SAN ANTONIO, Tex. – U.S. Attorney John F. Bash announced today that he will resign from the Department of Justice on Friday, October 9, 2020, at 11:59pm. U.S. Attorney Bash issued the following statement:
This Friday—eight years to the day after I first joined the Department of Justice—I will step down as United States Attorney for the Western District of Texas.
Last month I accepted an offer for a position in the private sector and informed the Attorney General of my decision. I tendered formal letters of resignation to both the President and the Attorney General this morning.
I am grateful to the President, Senator John Cornyn, Senator Ted Cruz, and the other members of the United States Senate for the opportunity to serve the people of Texas. I am also grateful to former Counsel to the President Donald F. McGahn II, who gave me steadfast support throughout the nomination and confirmation process, and to former Solicitor General Donald B. Verrilli, Jr., for first bringing me into the Department in 2012. And I am honored that during my tenure as U.S. Attorney, the Attorney General has seen fit to entrust me with significant responsibilities and to appoint me to his Advisory Committee.
[…] The Attorney General has elected to appoint Gregg Sofer to succeed me as U.S. Attorney. Gregg is an inspired choice. He is a veteran Department of Justice attorney, serving first in the National Security Division at Main Justice and then for over a decade as a national-security specialist in our Austin office. In the latter role, he built a reputation as a dogged and tremendously effective prosecutor.
In 2018, I selected Gregg to serve as our office’s Criminal Division Chief, where he designed and implemented significant improvements to our operations, oversaw thousands of prosecutions, and provided me with invaluable advice on a range of important issues and cases. Since early this year, he has served in Washington, D.C., as Counselor to the Attorney General. He will make an excellent U.S. Attorney.
Attorney General William Barr offered the following statement:
I offer my gratitude to John Bash for his service as United States Attorney for the Western District of Texas. Since 2017, John has successfully led one of the largest U.S. Attorney’s Offices in the country. John has made significant contributions to the Department of Justice, including his service on the Attorney General’s Advisory Committee. I appreciate his service to our nation and to the Justice Department, and I wish him the very best. (link)
John Bash is one of five known U.S.A.O.’s who were tasked to provide supplemental support to the John Durham probe. Specifically Bash’s objective originated after the extensive unmasking of Michael Flynn was discovered; however, that objective was expanded in both scope and time as explained by AG Bill Barr on July 28, 2020.
It would be highly unusual for a U.S. attorney to resign in the middle of a very important aspect of his investigative responsibilities as assigned by the Attorney General.
Something about this is not passing the sniff test at all…
With 30-days left before the election perhaps it’s worthwhile remembering what all of this opposition is about…. Something 99% of American voters do not quite understand.
Congress doesn’t actually write legislation. The last item of legislation written by congress was sometime around the mid 1990’s. Modern legislation is sub-contracted to a segment of DC operations known as K-Street. That’s where the lobbyists reside.
Lobbyists write the laws; congress sells the laws; lobbyists then pay congress lucrative commissions for passing their laws. That’s the modern legislative business in DC.
When we talk about paying-off politicians in third-world countries we call it bribery. However, when we undertake the same process in the U.S. we call it “lobbying”.
CTH often describes the system with the phrase: “There are Trillions at Stake.” The process of creating legislation is behind that phrase. DC politics is not quite based on the ideas that frame most voter’s reference points.
With people taking notice of DC politics for the first time; and with people not as familiar with the purpose of DC politics; perhaps it is valuable to provide clarity.
Most people think when they vote for a federal politician -a House or Senate representative- they are voting for a person who will go to Washington DC and write or enact legislation. This is the old-fashioned “schoolhouse rock” perspective based on decades past. There is not a single person in congress writing legislation or laws.
In modern politics not a single member of the House of Representatives or Senator writes a law, or puts pen to paper to write out a legislative construct. This simply doesn’t happen.
Over the past several decades a system of constructing legislation has taken over Washington DC that more resembles a business operation than a legislative body. Here’s how it works right now.
Outside groups, often called “special interest groups”, are entities that represent their interests in legislative constructs. These groups are often representing foreign governments, Wall Street multinational corporations, banks, financial groups or businesses; or smaller groups of people with a similar connection who come together and form a larger group under an umbrella of interest specific to their affiliation.
Sometimes the groups are social interest groups; activists, climate groups, environmental interests etc. The social interest groups are usually non-profit constructs who depend on the expenditures of government to sustain their cause or need.
The for-profit groups (mostly business) have a purpose in Washington DC to shape policy, legislation and laws favorable to their interests. They have fully staffed offices just like any business would – only their ‘business‘ is getting legislation for their unique interests.
These groups are filled with highly-paid lawyers who represent the interests of the entity and actually write laws and legislation briefs.
In the modern era this is actually the origination of the laws that we eventually see passed by congress. Within the walls of these buildings within Washington DC is where the ‘sausage’ is actually made.
Again, no elected official is usually part of this law origination process.
Almost all legislation created is not ‘high profile’, they are obscure changes to current laws, regulations or policies that no-one pays attention to. The passage of the general bills within legislation is not covered in media. Ninety-nine percent of legislative activity happens without anyone outside the system even paying any attention to it.
Once the corporation or representative organizational entity has written the law they want to see passed – they hand it off to the lobbyists.
The lobbyists are people who have deep contacts within the political bodies of the legislative branch, usually former House/Senate staff or former House/Senate politicians themselves.
The lobbyist takes the written brief, the legislative construct, and it’s their job to go to congress and sell it.
“Selling it” means finding politicians who will accept the brief, sponsor their bill and eventually get it to a vote and passage. The lobbyist does this by visiting the politician in their office, or, most currently familiar, by inviting the politician to an event they are hosting. The event is called a junket when it involves travel.
Often the lobbying “event” might be a weekend trip to a ski resort, or a “conference” that takes place at a resort. The actual sales pitch for the bill is usually not too long and the majority of the time is just like a mini vacation etc.
The size of the indulgence within the event, the amount of money the lobbyist is spending, is customarily related to the scale of benefit within the bill the sponsoring business entity is pushing. If the sponsoring business or interest group can gain a lot of financial benefit from the legislation they spend a lot on the indulgences.
Recap: Corporations, mostly modern multinationals (special interest group), write the legislation. The corporations then contract the lobbyists. Lobbyists then take the law and go find politician(s) to support it. Politicians get support from their peers using tenure and status etc. Eventually, if things go according to norm, the legislation gets a vote.
Within every step of the process there are expense account lunches, dinners, trips, venue tickets and a host of other customary financial way-points to generate/leverage a successful outcome. The amount of money spent is proportional to the benefit derived from the outcome.
The important part to remember is that the origination of the entire process is EXTERNAL to congress.
Congress does not write laws or legislation, special interest groups do. Lobbyists are paid, some very well paid, to get politicians to go along with the need of the legislative group.
When you are voting for a Congressional Rep or a U.S. Senator you are not voting for a person who will write laws. Your rep only votes on legislation to approve or disapprove of constructs that are written by outside groups and sold to them through lobbyists who work for those outside groups.
While all of this is happening the same outside groups who write the laws are providing money for the campaigns of the politicians they need to pass them. This construct sets up the quid-pro-quo of influence, although much of it is fraught with plausible deniability.
This is the way legislation is created.
If your frame of reference is not established in this basic understanding you can often fall into the trap of viewing a politician, or political vote, through a false prism.
The modern origin of all legislative constructs is not within congress.
“We have to pass the bill to, well, find out what is in the bill” etc. ~ Nancy Pelosi 2009
“We rely upon the stupidity of the American voter” ~ Johnathan Gruber 2011, 2012.
“If Congress isn’t going to convene until the bill is ready to vote on… who the hell is writing the bill?” ~ Tom Massie, 2020
Once you understand this process you can understand how politicians get rich.
When a House or Senate member becomes educated on the intent of the legislation, they have attended the sales pitch; and when they find out the likelihood of support for that legislation; they can then position their own (or their families) financial interests to benefit from the consequence of passage. It is a process similar to insider trading on Wall Street, except the trading is based on knowing who will benefit from a legislative passage.
The legislative construct passes from K-Street into the halls of congress through congressional committees. The law originates from the committee to the full House or Senate. Committee seats which vote on these bills are therefore more valuable to the lobbyists. Chairs of these committees are exponentially more valuable.
Now, think about this reality against the backdrop of the 2016 Presidential Election. Legislation is passed based on ideology. In the aftermath of the 2016 election the system within DC was not structurally set-up to receive a Donald Trump presidency.
If Hillary Clinton had won the election, her Oval Office desk would be filled with legislation passed by congress which she would have been signing. Heck, she’d have writer’s cramp from all of the special interest legislation, driven by special interest groups that supported her campaign, that would be flowing to her desk.
Why?
Simply because the authors of the legislation, the originating special interest and lobbying groups, were spending millions to fund her campaign. Hillary Clinton would be signing K-Street constructed special interest legislation to repay all of those donors/investors.
Congress would be fast-tracking the passage because the same interest groups also fund the members of congress.
President Donald Trump winning the election threw a monkey wrench into the entire DC system…. In early 2017 the modern legislative machine was frozen in place.
The “America First” policies represented by candidate Donald Trump were not within the legislative constructs coming from the K-Street authors of the legislation. There were no MAGA lobbyists waiting on Trump ideology to advance legislation based on America First objectives.
As a result of an empty feeder system, in early 2017 congress had no bills to advance because all of the myriad of bills and briefs written were not in line with President Trump policy. There was simply no entity within DC writing legislation that was in-line with President Trump’s America-First’ economic and foreign policy agenda.
Exactly the opposite was true. All of the DC legislative briefs and constructs were/are antithetical to Trump policy. There were hundreds of file boxes filled with thousands of legislative constructs that became worthless when Donald Trump won the election.
Those legislative constructs (briefs) representing tens of millions of dollars worth of time and influence were just sitting there piled up in boxes under desks and in closets amid K-Street and the congressional offices. Legislation needed to be in-line with an entire new political perspective, and there was no-one, no special interest or lobbying group, currently occupying DC office space with any interest in synergy with Trump policy.
Think about the larger ramifications within that truism. That is also why there was/is so much opposition.
No legislation provided by outside interests means no work for lobbyists who sell it. No work means no money. No money means no expense accounts. No expenses means politicians paying for their own indulgences etc.
Politicians were not happy without their indulgences, but the issue was actually bigger. No K-Street expenditures also means no personal benefit; and no opportunity to advance financial benefit from the insider trading system. Republicans and democrats hate the presidency of Donald Trump because it is hurting them financially.
President Trump is not figuratively hurting the financial livelihoods of DC politicians; he’s literally doing it. President Trump is not an esoteric problem for them; his impact is very real, very direct, and hits almost every politician in the most painful place imaginable, the bank account.
In the pre-Trump process there were millions upon millions, even billions that could be made by DC politicians and their families. Thousands of very indulgent and exclusive livelihoods attached to the DC business model. At the center of this operation is the lobbying and legislative purchase network. The Big Club.
Without the ability to position personal wealth and benefit from the system, why would a politician stay in office? It is a fact the income of many long-term politicians on both wings of the uniparty bird were completely disrupted by Trump winning the 2016 election. That is one of the key reasons why so many politicians retired in 2018.
When we understand the business of DC, we understand the difference between legislation with a traditional purpose and modern legislation with a financial and political agenda.
When we understand the business of DC we understand why the entire network hates President Donald Trump.
Lastly, this is why -when signing legislation- President Trump often says “they’ve been trying to get this through for a long time” etc. Most of the legislation that is passed by congress, and signed by President Trump in his first term; is older legislative proposals, with little indulgent value that were shelved in years past.
Example: Criminal justice reform did not carry a financial benefit to the legislative bodies, and there was no financial interest funding the politicians to pass the bill. If you look at most of the bills President Trump has signed, with the exception of a few economic bills, they stem from congressional construction many years, even decades, ago.
Think about it carefully and you’ll see it. The “First step act”, “Right to Try”, etc. were all shelved by Boehner, Pelosi, Ryan, McConnell, Reid and others before them. When the value of legislation is measured by the financial underwriting and payoffs behind it, what type of legislative calendar does that require?….
House Permanent Select Committee on Intelligence (HPSCI) Ranking Member Devin Nunes appears with Lou Dobbs to discuss the 2020 U.S. election as contrast against the known weaponization of the intelligence apparatus.
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Keep in mind this is a member of the United States Intelligence Oversight group, the “gang of eight” saying the U.S. election is being manipulated by the U.S. intelligence community and political allies.
QUESTION: What do you have to say about Trump’s taxes?
GS
ANSWER: Let me explain something. Let’s take one of the richest men in the world — Bill Gates. He achieved that station by co-founding and then leading Microsoft. Most of his wealth came not from his salary, but from the Microsoft stock that he owns, which was equal to about 10% of the company’s outstanding shares. Wealth gained from stock price appreciation is NOT taxable until you sell the shares. By holding most of his shares since the company’s founding, Mr. Gates DELAYED paying any tax on those capital gains. Then by donating the shares to the Bill and Melinda Gates Foundation, that wealth was NEVER taxed!
Why do you think all these people create foundations from the Clintons, Gates, to John McCain. You get to play with the money tax-free while you are espousing economic equality. There should be NO income taxes. It should be a consumption tax (retail sales tax). Donating money to a foundation that you control should be illegal, but its not.
The central banks have been digging deeper and deeper into their monetary toolboxes in a vain hope of cushioning the COVID-19-induced shock, which has been orchestrated by this global effort to CRUSH the economy and redesign it in their image of a fossil-free world. The fake pandemic aside, the notion that the banks were already beyond hope since the ECB lowered rates to NEGATIVE back in 2014 and Keynesian Economics has failed. What has emerged is that the central banks have accelerated their transformation of monetary policy, which was once focused on defending and controlling inflation, into “Guardians of the Galaxy” combating inequality, climate change, inflation, and anything else they can think of. This decreases the possibility of ever returning to the existence of central banks pre-2007.
For the first time in post-1916 history, the US Federal Reserve has bought a wide variety of corporate debt issued by blue-chip borrowers such as Apple Inc., as well as junk bonds from riskier companies. As I have stated before, when the Fed was originally designed, its elastic money creation made sense because they bought private debt, which is paid off compared to government debt which never ends. The Bank of Japan has been what some call the petri dish for central banking since after more than two decades of expanding the money supply with no inflation, this has added to the rise of Modern Monetary Theory where these people assume that they can print money with no end and no inflation.
The central banks have lost control of the economy and the markets. There is no return to normal – they have now become the Guardians of the Galaxy.
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!
This is a library of News Events not reported by the Main Stream Media documenting & connecting the dots on How the Obama Marxist Liberal agenda is destroying America