Goldman Sacks agreed to pay Malaysia $3.9 billion in league with the Department of Justice (who always protects Goldman) in return for Malaysia dropping all CRIMINAL charges against Goldman Sachs concerning the 1MDB fraud. I have reported before that when that deal was coming down, no other firm was allowed to quote the project. The entire thing was orchestrated in an illegal fashion and other dealers were prohibited from even quoting.
There will NEVER be a clean up of Wall Street, for the bankers OWN the Justice Department in New York City, the courts, as well as the SEC & CFTC regulators. I maintain that you should never deal with any New York bank, for you will NEVER prevail in any confrontation. They own the entire system.
This settlement is simply because Malaysia was filing criminal charges against Goldman Sachs in its own country. This deal reflects how they own the Department of Justice, for Goldman is only paying a cash settlement of $US2.5 billion while another $US1.4 billion will come from seized 1MDB assets being returned with the help of the US Justice Department.
Trump is oblivious to the real swamp in New York, which funds everything in Washington. They bought the Clintons to make student loans nom-dischargeable in bankruptcy so we have a whole generation with worthless degrees and so much debt that they cannot buy a home. Goldman Sachs not just donated to Hillary exclusively during the 2016 election, but they went as far as prohibiting staff from donating to Trump. Then Trump blindly hires people from Goldman Sachs? Very wrong decision!
Money greases the wheels of exchange, and thus makes the whole economy more productive. The idea that everything should be cashless is problematic for so many reasons. Bartering is a good under certain circumstances and societies, but it relies on what Keynesian economists call a “double coincidence of wants,” making it less desirable than cash.
Cash is easier because it is a convenient medium of exchange, sometimes free from government prying eyes, a unit of account for quoting prices, and a store of value as long as the trust in government is not eroded and inflation is low.
From the people’s perspective, cash is freedom
Cash is lightweight, can have large denominational value, does not spoil, and is thus better than commodity money, i.e., cigarettes, bullets, chocolate, jewelry, gold coins, pelts, furs, soap, etc.
From the government’s perspective, it is easy to see why they would want a cashless society. Banning cash under the guise of it being infected by disease, of controlling money laundering of criminals and drug lords, and routing all of our income, every last penny through the banking system helps them better control everything we do, freezing accounts at will, while taxation becomes so much easier, including payments to Obamacare insurance and any financial penalties an individual is required to pay. It enables governments to track with 100 percent accuracy everything we buy and sell, everything we own, and everything we do.
From the people’s perspective, cash is freedom, but the leftist mainstream media is attacking it with pathetic excuses such as cash is physically dirty, expensive, potentially criminal, and obsolete 19th century technology, happily promoting the “war on cash.”
The media’s opposition sees the “war on cash” as another form of population control when people’s accounts can be raided and their owners classified as potential domestic terrorists, or denied healthcare, travel, education, and other services if they are marked with a “digital star.”
The issues with a cashless society are too many to mention them all:
Cashless Global Currency
Total control by the state or its proxy
Savings could result from not using special paper, printing, ink, labor, and metal alloys but then those in the trade would become unemployed
If an attack occurs on the Smart Grid and there is no power, there are no financial transactions possible without some cash, a substitute, or barter
In the event of a national disaster, i.e., earthquake, tsunami, hurricane, tornado, power outages, transactions can be made by cash, commodity money, or barter
An EMP attack or intense solar flares would make cash or one world currency worthless and people will resort to theft
A cashless or global currency would give banks extraordinary power with no cap on interest rates or their control
Cashless transaction will always be traceable and thus the person’s location
One world currency in a cashless market would eliminate exchange rates, currency trading futures, eliminate a substantial sector of the job market and thus revenues
Black markets and illegal activities would be eliminated, and everyone will be forced to pay taxes on every penny
Children under 18 would be excluded from holding credit cards and thus excluded from financial transactions without cash; no more grandma cash gifts, lawn mowing money, or rainy-day cash savings in a jar
Prostitution will have to be legalized and client’s names become public record
Billions of Muslims would lose hawala transactions which are based on cash
Conducting monetary policy about money stock will be altered as cash disappears and one world government such as the U.N. would have to do it
Labor will be purchased and sold with electronic credits and debits
How would the value of one world currency be decided? Will it be tied to gold, silver, platinum, or some other precious metal or decided arbitrarily by the United Nations?
The destabilization of economies via counterfeit currency between countries would be eliminated as a tactic of war if only one currency exists
What would cyber attacks do to a single grid of digital money?
What would happen to third world nations that are not so electronically wired and depend heavily on cash and barter? How could they possibly make transactions in digital money?
A reader sent in this photo that was posted at the head office branch of Bank of Montreal in Vancouver, which is one of the largest banks in Canada. This is a trend that is beginning to appear around the world. However, central banks are using the virus as an excuse to cut off the supply of paper money to go all digital. This is not necessarily in accordance with the political direction of the immediate political agenda. It appears to be unfolding autonomously just to get people accustomed to the idea that physical money is on its way out.
There is a rise in hoarding cash globally. Canadian dollars are being hoarded domestically and to some extent in Asia alongside the US dollar. Europeans and Canadians are used to paper money and coins being canceled routinely so the average person understands that they cannot hoard euros.
In the case of Canada, the paper currency of the colonial governments, prior to each entering confederation, are no longer valid as was the case with the colonial paper money issued by the various states before joining the United States. However, the Dominion of Canada currency of Her Majesty’s Government issued 1870 and 1935, is also not valid. Additionally, Canadian chartered banks, from pre-Confederation to 1944, which also issued currency, is also not valid. Canada, like Europe, old banknotes are canceled and can be redeemed at the Bank of Canada.
Thanks again for all the support. Do not take my brutally honest writing on DC to be anything other than a way for ordinary people to see the corrupt nature of this toxic place from an outsiders perspective. I am not fearful, I am more determined than ever.
The truth is my weapon here. I fear nothing in that regard. It is just sad to think this is our nation’s capital and yet it seems occupied by doom and despair. Saying hello, or good morning to one of the masked zombies gets you the glare of the pod people.
On to the mission at hand. – Almost all of it GOOD news; even in the bad news aspects of recent feedback. Bottom line: no-one in a position of any oversight ever put this together before; and yet once you see it with all the accompanying certified evidence, everything makes sense. Once visible it cannot be unseen.
Unfortunately, this reality also means congress did not figure this issue out; even with years of investigations. However, on the plus side it also means they are not hiding it. Quite simply: they didn’t know about it, they never pieced it together.
Which then leads into the second aspect…. Is Durham clueless about this? The consensus answer is yes; USAO John Durham likely has no idea. Which again is bad, but also holds a silver lining in that he would not be covering-up a major DC issue, but rather has no idea because the primary elements are long-forgotten.
In federal government, never assign corrupt intent to those things that can be easily explained by incompetence.
So, that’s the next step; get this in front of USAO Durham; or his team. Again, much more positive activity than negative. The direct evidence is irrefutable. Once visible, not a scintilla of doubt on primary. So that’s good… affirming and needed.
The background story is a truth weapon that cannot be avoided. As such, it is critical the four corners stand strong without any weakness. Anyone who has reviewed the material so far is in agreement; this is exactly that. Direct evidence including sworn statements under oath (ie. base story is beyond doubt); and overwhelming circumstantial evidence that fills-in and even bigger picture (not really needed to advance immediately).
Keep radar on maximum alert now. Look for tell-tale signs starting to surface with increased focus directly to the special counsel investigation.
OK, that’s about as far as I can go for now.
I am beyond humbled by the words of encouragement and support; and I do have a plan to move forward and return to a position of accountability and representative government. Sounds like a big goal, because it is. Additionally, I have a plan to help you, and your friends, and your neighbors. That dual-purposed and parallel plan is also well underway and will continue with unwavering intensity. {Go Deep}
The truth is far more exposed today than yesterday….
As if the global economic disaster caused by the Chinese Covid-19 viral pandemic was not bad enough, the looming global “coin shortage” and the “unknown pneumonia” (Covid-20?) in Kazakhstan are here.
Why exactly do we have a coin shortage?
Banks tell us that the Fed are not releasing enough coins.
Armstrong Economics wrote that faith in governments has been eroded. It sees governments as promoters of the idea that money is dirty, and the solution is to eliminate coins and paper money even though physical money as a medium of exchange has been in circulation for centuries.
The U.S. Treasury reported a disruption in the coin supply chain and its velocity of circulation due to the lockdowns and the huge reduction in consumption in the last four months of forced lockdowns in all 50 states. People shopped mostly for food and avoided all other venues of direct commerce for fear of Covid-19 infection and because so many places were closed. Many shopped online or in large retailers like Costco, Target, Walmart, and Amazon.
Allegedly, the U.S. Mint has minted less coins to protect employees from COVID-19. It is an interesting issue to ponder since minting coins and printing paper currency are highly automated operations, with expensive computers driving the printing and minting presses and requiring very few employees, mostly in checking roles to make sure the machines run properly and the mint/print are done correctly, as well as controlling the quality of each batch that is bound and packaged for distribution and circulation.
Some central banks are sterilizing money with UV light to prevent the spread of viral infections.
The Fed purportedly quarantined for ten days U.S. dollars returning from Europe and Asia.
The U.S. Treasury sees the current coin shortage in U.S. businesses as a decrease in velocity of various coins in circulation. The Treasury estimated the value of coins in circulation in April 2020 of $47.8 billion as an adequate coin supply, larger than last year’s supply of coins by at least half a billion. But the closing of retail shops, many permanently, bank branches, transit authorities, and laundromats due to Covid-19 fears, eliminated the typical places where coins enter circulation.
Nobody knows exactly if people are hoarding coins on purpose or if the businesses that have closed temporarily or permanently have cleared out all their cash registers of coins and paper currency.
“The coin supply chain includes many participants, from the U.S. Mint who produces new coin, to the Federal Reserve who distributes coin on the U.S. Mint’s behalf, to armored carriers, banks, retailers and consumers, all of whom have a role to play in helping to resolve this issue.”
On June 11, the Federal Reserve announced the Strategic Allocation of Coin Inventories which was a temporary coin order allocation in all Reserve Bank offices and Federal Reserve coin distribution locations effective June 15, 2020.
The Federal Reserve also established a U.S. Coin Task Force in early July to deal with disruptions to normal coin circulation. All interested parties participated – U.S. Mint, Federal Reserve, armored carriers, American Bankers Association, Independent Community Bankers Association, National Association of Federal Credit Unions, Coin aggregator representatives, and retail trade industry.
The Federal Reserve said that “it is confident that the coin inventory issues will resolve once the economy opens more broadly and the coin supply chain returns to normal circulation patterns, however, “it recognizes that these measures alone will not be enough to resolve near-term issues.”
QUESTION: Mr. Armstrong, why is Bill Gates pushing to eliminate all physical money?
AS
ANSWER: This is part of the strategy behind Microsoft. They continuously pretend to update Windows, yet they are tracking what you do to create profiles to sell that information. Eliminating physical money will further that hi-tech goal of knowing everything we do and how much we are worth to sell to the highest bidder. Gates and his wife were behind India canceling their currency, and they are pushing that agenda at the United Nationsand in Europe. Only Russia is standing up against Microsoft and Gates.
Gates and everyone he buys, like the Clintons, joined him to further his world domination goal. We will see an unending parade of companies joining Gates and his dream. Mastercard has just joined ID2020.
COMMENT: I suppose you support Trump and stuffing the court with more conservative judges!
PN
REPLY: Sorry, I do not fit your predetermined mold. I am a strict constructionist. If it is not in the Constitution, it is not valid. The Constitution is NEGATIVE, not positive. What you think are constitutional rights are actually NEGATIVE commands upon the government; they shall not deny you those rights. I am in serious disagreement with most of the conservative judges as they simply default to the position of the government.
In the case of Justice Ruth Bader Ginsburg, who has liver cancer, she will not step down out of hope that Trump will lose and a liberal justice can replace her. I do not believe in creating things that are NOT in the Constitution, such as immunity for judges, prosecutors, and police. That was one of the express complaints in the Declaration of Independence. I fail to see where the Supreme Court has any such power to create immunity out of thin air that is not in the Constitution.
We have reached the point of no return. Governments will find it IMPOSSIBLE to constantly roll their national debts as we enter 2021. Any attempt at paying down the public debt or moving into surplus would be catastrophic and undermine the entire world economy. Who are we kidding? The tax burden on each generation will progressively get worse until we see blood in the streets, which seems to be the only solution to corrupt governments.
This immediate health crisis has been really the covert means to forcing the climate change crisis people have wrongly assume is our fate. There are those who now advocate Modern Monetary Theory as the ONLY way out and point to six years of negative interest rates in Europe since 2014 with deflation. Their view of neoliberalism supported by Keynesian Economics has collapsed. Therefore, the solution is to cancel all physical money, eliminate cryptocurrencies, and force their vision of how to create this New Green World Order that they claim will produce FULL EMPLOYMENT, which is simply just another empty promise constructed upon theory.
QUESTION: Mr. Armstrong; I listened to one of your recent interviews and you said that silver may be better than gold going forward and that a gold standard was pointless because you cannot fix the price of gold while everything else floats. That was the best explanation I have ever heard. So my question is are you referring to common silver coins dated before 1965?
HJ
ANSWER: The silver to gold ratio peaked and has begun to turn. The problem with gold is that it rallied rather than making a strategic low, which would have set it up for a major slingshot. This failure to create the slingshot low will temper its advance which is what we are beginning to see now with the change in trend with respect to the ratio. Governments are hunting gold and imposing all sorts of restrictions. From a true barter perspective, silver coins will be easier to use if they end up canceling the paper currency. This is highly likely in Europe first, and then it will migrate to the USA.
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
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