Armstrong Economics Blog
Re-Posted Jul 4, 2016 by Martin Armstrong
(Note: Not so sure we actually won something. We are right back to taxation with no representation the same as it was 240 years ago)
Tag Archives: multicultural
Declining Pound Savior of Britain
Armstrong Economics Blog
Re-Posted Jul 4, 2016 by Martin Armstrong
QUESTION: Marty
It looks like Carney and Osborne are talking the pound down in order to frighten people.
Only one of their prophesies have come true – the lower value of sterling.
But it is unhelpful that they continue to be negative – even though they’ve proved to have been wrong on all the other things [cost of borrowing, asset prices, the UK deficit, cancellation of investments].
I fear [being a Brit] that too much unwarranted negativity from their position of power will take the pound down too far. Do you agree that can achieve that and that they, representing the establishment, are trying to win back some of the lost ground? I would say that is treason [not to carney as he’s a Canadian. I’d tell him to go home].
Thanks
JF, Manchester
ANSWER: The reason “value” investing and “fair value” theories fail is because markets ALWAYS over shoot and under shoot. Our next real zone for the pound is in the mid 120 level. However, ironically, European concepts of currency value is SERIOUSLY WRONG. Post-World War II, European politicians used the rise in their currencies as proof that they did a good job. That installed this concept that a strong currency was good for the economy which in fact if you are concerned about trade, you want a weak currency. The entire reason the Swiss put a peg on to the euro was because the rise in the franc was reducing exports and major companies threatened to leave.
The decline in the pound will BOOST British exports and have exactly the opposite effect helping the British economy. The EU is doomed. Over taxes, over regulated and it has no meaningful democratic process. Worse still, just as Merkel by herself tried to help her negative image because of her harsh dealings with Greece wanted to appear reasonable, she invited the refugees in without any right of other countries to object. She made a decision as Germany, but it automatically impacts all of Europe. Under the EU, no such power should be allowed if all governments must suffer because of one leader.
The pound will drop to penetrate the $1 par level probably no later than 2018. With the political chaos of French and German elections next year, that decline can take place sooner than later. But this is what will force a monetary reform as early as 2018. The rise in the dollar will reduce US exports and that will put political pressure in the States for reform not to mention a debt crisis in emerging markets.
The peak in bonds appears to be in place. We are seeing the rates rise already in the peripheral markets. This will spread from the peripherals in toward the core. So Southern European rates will rise faster than German but when capital figures out the crisis is the EU, then German rates will rise. The Federal rates in the USA will be the LAST to rise because the initial shock will be foreign capital fleeing to the States.
The remarks of British politicians are to be seen in their context of this false perception that a strong currency is good. You hear Trump criticizing China as a “currency manipulator” implying they lower the value of their currency to increase trade. As the pound declines, this will save British jobs – it’s a good thing; not bad.
Elitism, Globalism, Corporatism, Bureaucrats and Two Current Senators….
This speech and the following link show exactly what is wrong with our political/business system system today. When governments get their hands in anything they always screw it up, while telling us they are fixing everything and while they end up with all the wealth; now what is wrong with that?
Sarah Palin Calls Out R.A.T’s In Colorado Speech…
The way its currently going there are more Rat’s in the Republican party then there are Snakes in the Democrat party
Rebel Alliance Spotted: California Billboard
We do not want to burn anything down but if they take us over the edge, which is possible, then John Locke widely regarded as of the most influential thinkers of the enlightenment era did give us the moral justification for taking matters into our own hands.
Hillary Clinton Questioned by FBI, Informally, On a Weekend…
Now if Hillary knows all the questions and had time to prepare and her attorneys can give her answers to give that are not incriminating enough and depending on what else they have this game of the AG meeting Bill might be enough cover to close the case and get her of. Now that would be a shame but it would also show us that there no hope for the politicians in DC they have all betrayed their oath to defend the constitution.
More Trouble for the EU – Austrian Election Declared a Fraud
Armstrong Economics Blog
Re-Posted Jul 2, 2016 by Martin Armstrong
Austria’s Constitutional court has ordered that the May’s presidential election be completely annulled. A new election must be held because of “particularly serious cases” of voting fraud that was detected in the vote. If the election is not rigged, then we may have another country seek to exit the EU or give them a good scare. There are some currents moving under the surface in the EU. The German Finance Minister Mr Schäuble really wants a treaty between the EU and the UK covering trading rules and other regulations that would restrict Britain from gaining access to the EU’s internal market. His hard-line approach is designed to deter other European countries from leaving the EU. His view, according to sources, he wants to punish Britain to ensure there are no incentives for other member states when renegotiating relations.
However, Mr Schauble also wants to use BREXIT to begin a reform process in the EU for he wants to change the structure for Germany. He too wants to eliminate the EU Commission and introduce a new structure that would then oversee debts, stability and growth of all members and would have greater control to step-in and reject member states’ budget plans. In reality, he was direct control, however, he seems to also want Germany to have some sort of final say on the financial plans of all countries within the Eurozone.
The future remains very much up in the air. The Constitutional Court overturning the Austrian Election may change the game.
Lynch Refuses to even Recuse Herself Proving This is All a Lie
Armstrong Economics Blog
Re-Posted Jul 2, 2016 by Martin Armstrong
The dishonesty never ends. The Attorney General Loretta Lynch has proven she is not trustworthy and playing games. She now says she will accept the recommendations of career prosecutors and the FBI director on whether to charge Hillary Clinton for mishandling emails. But the FBI director is also appointed by Obama and is subordinate to her. She did not say she would publish the FBI report, she simply claimed she would accept it. She refused to recuse herself from the investigation which is mandatory in any such setting. In my own case, when I made it to the Supreme Court, Justice Sonya Satomayor recused herself because she sat on the decision being appealed. It was her separate opinion disagreeing with Judge John Walker that helped to secure my entry to the Supreme Court. Any such connection requires recusal. The fact that Lynch will not recuse herself shows this is a rigged game when in fact she should resign.
She now hopes that if the Hillary wins, she retains her job. So her personal incentive is not to make sure Hillary wins or else she is out of a job.
Let’s make no mistake about this. There no possible way the Democratic Party would allow Hillary to go this far if they were NOT already given the wink and the mod from Obama. The fact that Lynch refuses to recuse proves that she will retain the last word to make sure Hillary is not indicted. This whole system in Washington has become just disgusting.
There should be an independent body to which any petitioner applies to recuse a judge or a government attorney. That should be a panel of 9 independent lawyers from the private sector and ALL lawyers must participate rotating that position. No judge should ever sit in judgment over his own conduct. It is a joke.
In my case, I confronted Judge Richard Owen about changing the transcripts in court inserting and removing words to alter the public record. This was a federal crime. He had to admit publicly to a crime but claimed he never changed anything material. Then he refused to recuse himself. Legally, I had the right to then cross-examine him to determine if what he changed was material. He said he did not, that was it, and refused to answer questions. I appealed to the Second Circuit Court of Appeals and they refused to even docket the appeal. These people can do whatever they want and nobody can do anything. Lynch is playing the same game. She refuses to recuse herself. How can anyone question her whatsoever. She can direct the FBI not to recommend indictment, say that was their conclusion, and never reveal the details.
It is a crime for a citizen to lie to government – just ask Martha Stewart. It is fair game for them to lie to us all the time.
Hillary: The Most Devious Politician of All Time?
Armstrong Economics Blog
Re-Posted Jul 1, 2016 by Martin Armstrong
QUESTION: Mr. Armstrong; Have you ever met or advised Hillary Clinton?
ANSWER: No. I was asked to meet with Bill when he was first elected in Arkansas after he invited hundreds of people for a dog and pony show. I declined. There is nothing I could advise Hillary on, for it is never about the country; it is just about her. The latest scandal surfacing is her schedule as Secretary of State, which a judge has now ordered must be turned over. Hillary’s scheduled meetings while she was Secretary of State shows she was devious and untrustworthy. At least 75 meetings were identified with longtime loyal donors, corporate contributors, and others that were not recorded in her agenda or were listed with identifying details removed.
Hillary appeared on the central balcony of the New York Stock Exchange in September 2009 to ring the opening bell. Then, minutes later, Hillary attended a private breakfast with influential Wall Street and business leaders. She withheld the identities of those people she met with. These omissions are just the tip of the iceberg of names and events she omitted from her historical record of meetings. This is typical of Hillary who represents the climax of arrogance and corruption among career politicians. These types of people have been getting away with this for so long that they cannot imagine running a government for any reason other than personal gain.
No, there is nothing I would be able to advise her on because she is not interested in the country. It has always been about her being the first woman president and nothing else. It’s all about paying her for favors. There is nothing I need from Hillary.
The Clinton’s Always Play Dirty
Armstrong Economics Blog
Re-Posted Jul 1, 2016 by Martin Armstrong
The Attorney General Loretta Lynch met privately with Bill Clinton on the tarmac in Phoenix. The claim is he just happen to see her plane and hopped on board to speak only about his grandchildren. In the Forecaster, Oliver Brown appeared who had been in charge of the law library in the New York prison. I was told I could not speak to him, visit him, say thank you, or anything, because I could be accused of bribing him to appear in the movie. This is standard legal advice. It made me feel wrong that I could not even say hello, but that is the real world. Here we have two lawyers who know the rules. Clinton met with the Attorney General while she is supposed to be investigating his wife. To now claim they only spoke about his grandchildren is an insult and total bullshit. This is something any lawyer would tell you – you CANNOT do.
The Attorney General has now been compromised. She should RESIGN. Sorry, but this is the real world. I could not even say hello to Oliver Brown and still have not spoken to him, seen how he is doing, or been able to say thank you. Bill Clinton knew what he was doing and Lynch knew as well. Enough is enough. They simply assumed they could get away with it on a tarmac. She was in the plane already. That means he went out of his way to jump on the plane. This is not giving a smile walking past someone you know as a lawyer you cannot speak to legally. We already know Lynch will NEVER indict Hillary. It would be political suicide for her career and Obama has no doubt already told her – lay off. It does not take this long to investigate and Hillary should not be running if she was REALLY under any possibility of being charged. That means the whole Democratic machine has assurances from the White House Hillary will never be prosecuted. Bill just had to make sure since this is the woman who can stop him from becoming the first male First Lady.
Centinel2012 