The Dive With Jackson Hinkle Published originally on Rumble on December 7, 2022
Its really hard to know what is going on there but it seems this is true.
Ukraine RETREATS From Marinka, Zelensky Named “Person Of The Year”
Tag Archives: NATO
PUTIN’S FIERY SPEECH Exposes Merkel’s UKRAINE LIES
Real Estate Down & Dirty
Armstrong Economics Blog/Real Estate Re-Posted Dec 9, 2022 by Martin Armstrong
QUESTION: I want to thank you for Socrates. It picked the turn in the real estate in January amazingly. Do you see the high-end and regional divergences continuing?
WH
ANSWER: Yes. The Directional Change for 2021 was spot on. Our index began declining in January 2022 anticipating the first rate hike on March 17, 2022, by a quarter point. We would expect lower prices into 2023 and this should be the typical 2-year reaction low. It appears that post-2023, we would begin to see the shift where private assets will start to trade at a premium to the public assets of the government. The spread between government and private will decline as was the case during the Great Depression as countries began to default on their debt.
Yellen Direct IRS to Audit Everyone for $600 Transactions Anyway
Armstrong Economics Blog/The Hunt for Taxes Re-Posted Dec 8, 2022 by Martin Armstrong
I really do have to wonder if my dog is smarter than most Americans who seem to have just lost their minds. My dog makes connections, anticipates what I will do, and studies my habits to predict and respond. I never knew a dog was really smart. She has learned numerous words and I have had to even spell certain words for she will respond if she hears the word. Dogs are indeed far more intelligent than I ever expected. Various studies show a dog is typically as intelligent as a two-year-old human. I can point in the sky at an airplane and she looks up. Not even a chimpanzee does that, or apparently most Americans. If you point to evidence they will not look.
The majority of Americans just listen to the propaganda, never questions anything, and assume the government is always telling them the truth because they care. Janet Yellen tried to get Congress to pass a formal act that banks and everyone had to report on Americans for every $600 transaction. Congress refused and her story was they were after the evil super-rich. The problem, the rich really are not selling stuff on eBay, using cash apps for side deals. That is the realm of the young and lower income.
So after the Biden Administration lost that battle, they simply told the IRS to do it on their own. Any transaction online over $600 is not subject to audit and you will find out the real reason they hired 87,000 armed IRS agents. You certainly do not need 87,000 IRS Agents to hunt down the 735 billionaires in the United States. They outright lie to your face, and many cheer.
People will NEVER wake up it seems. I have known politicians who actually believe that EVERYTHING belongs to the state, they decide on how much you are allowed to keep. They must have sipped history class for virtually EVERY Revolution in history was inspired by taxes. Even the famous line from Shakespeare “the first thing we do, let’s kill all the lawyers” actually refers to the king’s prosecutors for private people had not right to a lawyer. It was all about a revolution and the “lawyers” were confiscating people’s houses for their inability to pay taxes.
The American Revolution was also sparked by taxation. Remember the French Revolution and the slogan they attributed to the King’s wife – let them eat cake was also all about taxes and oppression
Flirting With the End Times?
Armstrong Economics Blog/Economics Re-Posted Dec 8, 2022 by Martin Armstrong
QUESTION: You have said you have backtested your ECM into ancient times. Have these cycles been consistent? Have you arrived at a conclusion as to why?
Thank you. It was a great WEC. I for one always lean a lot.
EL
ANSWER: Yes, I have reconstructed the monetary system of the world using the coinage so it is possible to actually backtest to see how these cycles have prevailed for millennia. The debasement of the silver coinage. The reforms of Diocletian and how the bronze follis declined once more.
No matter where you look, you see the steady unfolding of a decline and fall of the monetary system. These people who think a return to the gold standard will somehow prevent corruption or inflation are just living in a dream world. When money was just a coin, inflation still existed. You cannot escape this – EVER!
My next book is to get this out ASAP. Here, I have backtested the model and I believe that this incorporates everything from climate, war, and human nature that is behind the rise and fall of civilizations throughout history. Naturally, academics will be against it because they do not want to accept that there is any regularity to the business cycle for that means that government does NOT have the power to manipulate society as Marx and Keynes told them.
We are clearly flirting with the end times insofar as the decline & fall of Western Culture. I have traced this back to ancient times and its regularity has been impressive.
Even the collapse of the Bronze Age Civilization was two times the 31.4-year intervals of the 51.6-year wave. You can feel it. We are tearing everything that held society together apart at the seams. Civilizations rise when everyone benefits. They fall when one group begins to exploit another. That is what is taking place right now.
Time Magazine Bestows “Person of Year” Award to the World’s Largest Beneficiary of Taxpayer Funding
Posted originally on the CTH on December 7, 2022 | Sundance
Comrade rebels, this is as fitting an attribution as one could make, given the state of international affairs.
Time Magazine has decreed their oft coveted “Person of The Year” award to Ukrainian President Volodymyr Zelenskyy, the world’s richest man as delivered by congress via U.S. taxpayers.
The actor-turned-president was bestowed the honor during an announcement on Wednesday by Time Magazine Editor-in-Chief Edward Felsenthal on the TODAY show.
The media outlet credits Zelenskyy’s courage, leadership and magnanimous stewardship of Ukraine’s defense, as well as victory in framing the international public image of the embattled nation.
(Via NPR) – […] “Whether one looks at this story of Ukraine with a sense of hope or a sense of fear, and the story is, of course, not fully written yet … Zelenskyy has really galvanized the world in a way we haven’t seen in decades,” Editor-in-Chief Edward Felsenthal said when revealing the news on the TODAY show.
The cover features a profile of Zelenskyy in his classic army-green sweater, surrounded by individual figures and crowds of protesters. They are interspersed with bright yellow sunflowers and blue-and-yellow Ukrainian flags. (read more)
BREAKING! This is about to EXPLODE, Putin says he’s done negotiating | Redacted News
Redacted News Published originally on Rumble on December 6, 2022
NATO led forces in Ukraine just killed a member of the Russian parliament in Donetsk. Russian President Vladimir Putin says he’s done negotiating with Ukraine. That means we are about to see a massive escalation of this war. Biden backs down on Iran and calls for negotiations as the press gets duped by “an end” to the morality police. We got our hands on Dr. Fauci’s 446 page deposition and it is stunning.
RUSSIA CLAIMS UKRAINE DRONES STRIKE AIR BASE
Newsmax TV Published originally on Rumble on December 6, 2022
After withstanding massive Russian missile attacks on their civilian population and power plants, Ukraine is fighting back. Ukraine’s defense ministry said it struck today inside Russia, hitting an air base near the city of kursk.
Futility of Price Controls
Armstrong Economics Blog/Economics Re-Posted Dec 7, 2022 by Martin Armstrong
COMMENT FROM HUNGARY: Dear Marty,
You were correct again. Price controls do not work in the long run. The Hungarian government introduced a price cap on gasoline and diesel a few months ago, but a few hours ago this evening they had to let it go(they “tried everything in their power to help but the damn bureaucrats in Brussels who voted for the sanctions”.etc etc.).
The holiday season, panic buying, no gas another nail into the trust in our government’s coffin.
Marty these people really have no clue what the hell they’re doing. We have several food products that also have price controls: Wheat, sugar, eggs, etc. And interestingly supermarkets simply stop selling them or they sell brown sugar (no price control) instead of white sugar (price controlled, the maximum amount you can purchase in one go is 3kg i believe). When will they learn (not admit) or at least stop blaming others for their own brain-dead decisions?
I honestly hope that whatever the hell comes after 2032 will be better than this nonsense.
Thanks for all you do Marty. Keep up the fight, and get some well-needed rest during the holidays. I reckon you’re getting more phone calls than usual…
All the best,
RH
ANSWER: You know the most astonishing fact is that this was not even my personal opinion. All one need do is consult history. NEVER has any attempt to freeze prices to prevent inflation EVER worked even once.
The Roman emperor Diocletian (284-305AD) tried to impose wage and price controls in an effort to prevent inflation that was soaring because of a collapse in confidence in the Roman government. The Edit on Maximum Prices was imposed during 201AD. It was an utter failure.
Even if we go back to the 4th century B.C., the Roman government bought corn (grain) and, in times of shortage, it re-sold it at a low fixed price to try to prevent inflation from shortages – as we have today. In 58BC, the Roman Senate went even further and granted every citizen free wheat. The politicians were trying to bribe the people as they are doing once again today. What happened was that the farmers began moving back to the city of Rome because they could live and eat without working – it was free. By the time Julius Caesar (100-44BC) crossed the Rubicon, one in three Romans was receiving government wheat. He was forced to create a census and found there were more people claiming welfare than there were possible people.
Those in government ALWAYS assume that since they possess a pen, they can write whatever law they desire and they will comply or be thrown in prison until they die. I was named FOREX Person of the Year in 2015 because we forecast the Euro/Swiss peg would break. I even met with the Swiss Central Bank and warned that the peg would break. I was told they would be able to hold it. I replied I think the odds are on my side since NOBODY in history has ever been able to do this. There was the British pound peh into the ERM the broking making Soros all his money. In 1997, there was the Asian Currency Crisis where all the pegs broke. then there was even Bretton Woods which was a fixed exchange rate that broke in 1971 and in 1973 I was called in for the first bank failure due to foreign exchange.
I have done my best trying to warn governments that they CANNOT fix currencies and even when they were forming the G5 with the Plaza Accord in 1985, I was called in and warned that lowering the dollar by 40% would lead to a major currency crisis and a crash by 1987. Never have they ever listened.
Perhaps, the ONLY time anyone in Europe or the United States than anyone in government ever listen was perhaps in 1997. They were starting the jawboning of the Yen for trade purposes once again. I wrote to Robert Rubin and he has Timothy Geithner respond who later became the Secretary of the Treasury. China has listened, but other than in 1997, I cannot say any central bank or government has EVER heeded my warnings that history is on my side – pegs NEVER work.
$80 Trillion Derivatives Market
Armstrong Economics Blog/Banking Crisis Re-Posted Dec 6, 2022 by Martin Armstrong
The Bank of International Settlements (BIS) has warned in its latest quarterly report that there is $80 trillion dollar in off-balance sheet dollar debt in the form of FX swaps. This has involved pension funds and other ‘non-bank’ financial firms.
What they do not explain is that each “debt” has a counterparty that has an “asset” and in theory, that works out to net zero. But there is counter-party risk that is not discussed. This doesn’t address the liquidity issue either. Still, it is not entirely a black hole as they seem to lead some to proclaim. What is also left unexplained or addressed is the question of if they are netting across all transactions. Many of the players in this market have offsetting positions. It is one thing to scream OMG the size of the stock market is too big, and another to yell fire in a crowded theater.
This $80 trill is effectively the derivatives market. It is what it is. Marking everything to market all the time isn’t a great answer either for there can be imbalances for a day or two in the middle of chaos. What is clear is that the BIS is raising concerns, in which it also said this year’s market upheaval took place without any major issues.
On the other hand, the BIS has been pushing central banks to raise rates to fight inflation which will only accelerate the crisis since it is shortage based. This is no different from the ’70s when there was an external price shock from OPEC,. Raising interest rates did nothing to prevent inflation, instead, it resulted in a strong dollar, the collapse of the pound to $1.03 in 1985, and the US national debt more than doubled on interest expenditures.
Nonetheless, the BIS has been quieter on the inflation front this time around. Just maybe, they are starting to realize that the old theories no longer work. The September UK government bond market turmoil was created by raising interest rates and the losses on holding long-term debt in the face of rising interest rates have been just the tip of the iceberg.
The FX swap markets have become huge. Our clients are well into the trillions these days whereas twenty years ago we had less than 5 clients at the $1 trillion threshold.
Nonetheless, the complexity of the cross-positions is the real risk. One side can blow out because of the chaos these braindead politicians are creating with this war against Russia.
Centinel2012 