Posted originally on Aug 1, 2024 By Martin Armstrong
There has been so much disinformation and sensationalizing of Quantitative Easing that this has led to academic economists who lack any trading experience to propose Modern Monetary Theory for its seems nobody actually comprehends what the hell is really going on. Much of the problem stems from this ancient theory that if you increase the quantity of money, then inflation will follow. This all predates massive government debt.
Much of this Quantity Theory of Money has its origins in Sir Thomas Gresham (1518-1579), who represented the English Crown on the Amsterdam exchange. People would not lend money to England because Henry VIII was debasing the currency to be able to repay his loans. He confiscated the Catholic Church and started the Church of England all because he was broke and confiscated wealth from the Catholic Church in England. Gresham became an adviser to Henry VIII’s successor – Elizabeth I. Thus, Gresham’s Law became bad money drives out good money, or the undebased currency.
These theories, which even gave rise to Austrian Economics, were all pre-collateralized debt of governments. There was no such market for posting sovereign debt as collateral to borrow or trade in markets. The economic models all changed, but academics have never understood traders. Lacking that experience, you will never see the actual trends.
Where Gresham observes from trading that debasing the money caused higher quality money to be hoarded when the foreign exchange value between currencies was ENTIRELY based upon the metal content, John Law (1671-1729) was also a trader on the same floor of the Amsterdam Bourse. He observed what has become the theory of Supply and Demand. It took two traders to witness how the market moved to develop these ideas. Both men were self-taught since the field of Economics did not begin until 1902. Not even John Maynard Keynes nor Adam Smith held decrees in economics.
The other self-taught economist who was also a trader was none other than David Ricardo. At the tender age of just fourteen, David entered his father’s business, but in 1793, he set up his own operation and made a fortune as a trader on the London Stock Exchange. Ricardo’s most important work was Principles of Political Economy and Taxation (1817). This book deals with all the controversial questions of political economy at the time: value theory, economic growth, rent, etc.
His other works include The High Price of Bullion (1810), which was the origin of understanding deflation; David’s Essay on the Influence of a Low Price of Corn on the Profits of Stock (1815); Proposals for an Economical and Secure Currency (1816); and the Plan for a National Bank (1824).
Ricardo is most famous for his ‘Theory of Comparative Advantage’ and ‘Rent’, which effectively argued that, for example, Saudi Arabia could grow lettuce in a desert with tones of water that might cost $10 to grow when it can buy it for 50 cents elsewhere. Thus, a nation should exploit what it possesses with a Comparative Advantage rather than squander its resources and restrict free trade.
Quantitative Easing (QE) does not increase the Supply of Money—it is only a maturity swap. Today’s total money supply includes debt, unlike during the pre-19th century. This has erroneously given rise to Modern Monetary Theory, for they pointed to QE and said there was no inflation, so we could just print without repercussions. It was merely a swap of maturities when you finally realize that debt is now money that pays interest as paper money began during the Civil War.
When paper money stopped paying interest, the term “Greenback” emerged, meaning there was no interest payment schedule on the reverse, just green ink. Paper money began as essentially debt or bonds that circulated as cash.
If your Definition of Money is Wrong – So is Everything Else that Follows
Posted originally on Jul 31, 2024 By Martin Armstrong
The Fraser Institute conducted a study that found Canadians are experiencing the worst standard of living in the past 40 years. Conditions are beneath what was experienced during the 89 recession, the Great Recession, and even the early stages of the post-pandemic. What is going on in Canada?
Justin Trudeau uprooted Canada’s fiscal landscape and his policies have only further sunk Canada into a decline. I reported that household debt in Canada exceeds 100% of GDP. Government spending toppled $1 trillion in 2020 in response to the pandemic, decreasing only 7.8% to $969.5 billion the following year. Government spending toppled C$520.17 billion during Q1 of 2024 alone. Justin Trudeau is aiming to turn Canada into a “BUILD BACK BETTER” nation that operates not like a true capitalist society but like the unelected government-driven economy we see in the European Union.
Canada’s immigration policy has become a free-for-all, with its population reaching an all-time high this year after surpassing 41 million. Nearly all population growth (99.3%; 240,955 people) was solely attributed to migrants arriving in Canada. The taxpayers are expected to subsidize the lives of migrants and turn a blind eye to the drastic uptick in crime. Canada was once a safe nation with a high-trust society. Crime has risen by over 40% and the entire landscape of Canadian society is changing. These people are often living in squalor and there are not enough housing units or jobs for all migrants, let alone all Canadians.
Similar to the US, Justin Trudeau is boosting job postings by ramping up hiring in the public sector, which has grown by over 17% since 2019. For comparison, the private sector only grew by 4% during that same timeframe. The public sector simply does not add to the economy in any meaningful way. These tax-funded agencies simply multiply and deduct from overall GDP.
Similar to other Build Back Better nations, Canada has lost its edge in trade. The countless green initiatives have crippled entire sectors, and rising taxes have made it a less desirable place to conduct business. Canada experienced a 51.2% reduction in mining, oil, gas, and quarrying from 2014 to 2022, as one example. Business investments have decreased by a third under Trudeau, yet he continues to spend.
‘“Building back better” represents a shared vision for a sustainable and inclusive economic recovery that strengthens the middle class, creates more opportunities for hard working people to join it, and ensures people have good jobs and careers on both sides of the border. Our leaders also recognized the opportunity for clean growth driven by workers, communities, businesses, and innovation.”
These government leaders are utter failures who are incapable of implementing meaningful policies. They destroyed the world economy under COVID and then sought to BUILD BACK BETTER. Instead, they’ve driven away smart money and business, fostered an environment for rising crime, and decreased everyone’s quality of life with inflationary policies. It is time for the voters to wake up and realize that the people they put into office are directly responsible for their deteriorating economic situations.
COMMENT: It’s akin to a multi-billion marketing campaign
I have family in
UK, Sydney, and Galway, Ireland
All are getting “diversity” pushed. It’s like a weapon now to prevent unity, common heritage against govt
I made these for friends. The end game of diversity?
There will be OLYMPIC teams in 30 years!
RL
REPLY: The real purpose of this Diversity Equality Inclusion global marketing plan has NOTHING to do with caring about people. I think the racist label has greatly died down, for in our own company, we have every religion and race working together. Even this LGBQT movement disrespects everyone else and demands we change our pronouns, and it is offensive to them if we call our mother – “mother.” This excessive abuse creates discrimination when one group demands everyone else must change their actions that have no direct physical impact on them.
What made the United States the great melting pot and the largest economy in the world was DISCRIMINATION. It was fair, for whoever was the last off the boat was discriminated against until they learned English to get a job. There were violent incidences, like when the Irish came in during the Hard Times of the 1840s, that resurrected the old hatred of Catholics in Philadelphia by the English Protestants. However, the second generation all intermarried once they spoke the same language. Ask an American what they are; the typical response will be half Irish, half German – or whatever the combination might be.
This is George Soros’ Open Society agenda that neither respects human culture nor anything that makes us individuals. Like Garland, Blinkin, and Nuland, Soros immediately attacks any critic, calling them antisemitic rather than addressing the criticism. As the Atlanticwrote: “George Soros’s name has been used as an anti-Semitic, nationalist dog whistle.”
Soro’s mentor is Karl Popper (1902-1994), who wrote several books, including “The Poverty of Historicism,” which Popper wrote in New Zealand during World War II. Popper became fixated with this notion of destiny pushed by Hitler and others throughout history. In his “The Open Society and its Enemies,” he writes: “Historicism, which I have so far characterized only in a rather abstract way, can be well illustrated by one of the simplest and oldest of its forms, the doctrine of the chosen people.” Poper describes this “historicism” as follows:
It is widely believed that a truly scientific or philosophical attitude towards politics, and a deeper understanding of social life in general, must be based upon a contemplation and interpretation of human history. While the ordinary man takes the setting of his life and the importance of his personal experiences and petty struggles for granted, it is said that the social scientist or philosopher has to survey things from a higher plane. He sees the individual as a pawn, as a somewhat insignificant instrument in the general development of mankind. And he finds that the really important actors on the Stage of History are either the Great Nations and their Great Leaders, or perhaps the Great Classes, or the Great Ideas. However this may be, he will try to understand the meaning of the play which is performed on the Historical Stage; he will try to understand the laws of historical development. If he succeeds in this, he will, of course, be able to predict future developments. He might then put politics upon a solid basis, and give us practical advice by telling us which political actions are likely to succeed or likely to fail.
Popper became caught up in these claims of destiny, which blinded him to the actual driving forces behind society throughout the centuries and why kingdoms, empires, nations, and city-states always rise from nothing, reach a climax, and then disintegrate to dust, only to be buried in a common grave dug by history. In Edward Gibbon’s (1737-1794) Decline and Fall of the Roman Empire (1776), his final chapter tells us about two attendants to Pope Eugenius IV (1431-1447) who are sitting on top of the Capitoline Hill in Rome overlooking the Roman Forum. Poggius then comments upon the vicissitudes of fortune, which spares nothing and nobody while it buries empires, nations, and city-states in a common grave.
“Her primeval state, such as she -might–appear in a remote age, when Evander entertained the stranger of Troy, has been delineated by the fancy of Virgil. This Tarpeian rock was then a savage and solitary thicket; in the time of the poet, it was crowned with the golden roofs of a temple, the temple is overthrown, the gold has been pillaged, the wheel of Fortune has accomplished her revolution, and the sacred ground is again disfigured with thorns and brambles. The hill of the Capitol, on which we sit, was formerly the head of the Roman Empire, the citadel of the earth, the terror of kings; illustrated by the footsteps of so many triumphs, enriched with the spoils and tributes of so many nations. This spectacle of the world, how is it fallen! how changed! how defaced! The path of victory is obliterated by vines, and the benches of the senators are concealed by a dunghill. Cast your eyes on the Palatine hill, and seek among the shapeless and enormous fragments the marble theatre, the obelisks, the colossal statues, the porticos of Nero’s palace: survey the other hills of the city, the vacant space is interrupted only by ruins and gardens. The forum of the Roman people where they assembled to enact their laws and elect their magistrates, is now enclosed for the cultivation of pot-herbs, or thrown open for the reception of swine and buffaloes. The public and private edifices that were founded for eternity lie prostrate, naked, and broken, like the limbs of a mighty giant, and the ruin is the more visible from the stupendous relics that have survived the injuries of time and fortune.”
Popper rejected cycles because he was focused on these claims of destiny. That may have been the rhetoric of Hitler, but you do not focus your entire theory on trying to disprove such a claim. In the process, Popper never sought actually to identify why; no matter what form of government emerges, they are all buried in a common grave. Chancellor Merkel of Germany pushed economic theories based on the German false assumption that the hyperinflation took place BECAUSE of the printing of money when, in fact, it was the printing of money that was the response to the collapse in confidence of the Weimar Republic.
The Weimar Republic was born of the 1918 German Communist Revolution, during which the German communists even invited Russia to take Germany as part of their Communist Revolution in 1917. These Germans wanted to be part of this Marxist dream. Anyone in the right mind moves whatever wealth they have to other currencies. Then, in December 1922, the Weimar Government confiscated 10% of whatever assets you had in the bank to pay the reparation payments for losing the war.
This German distortion of historical events has poisoned the German economy ever since. It was the very reason why Hitler rose to power for the oppressive of the reparation payments that even Hohn Maynard Keynes warned was detrimental. However, the French had made reparation payments to Germany back in the 19th century, so they wanted retribution in the 20th century.
Even The Lyviathan by Thomas Hobbes (1588-1679) was deeply influenced by the English Civil War and the beheading of the King. In his Decline and Fall of the Roman Empire, Edward Gibbon (1737-1794) was also deeply influenced by the English Civil War between Protestants and Catholics. Consequently, he includes chapters on the rise of Islam and Christianity and attributes much of the cause behind the fall to religion and discord only because he saw that in Britain.
I find it very damaging when someone seeks to critique history based on current trends applied to different times. I have written before how William Penn named his city of Philadelphia based on the translation of the word “Philadelphos,” meaning “brotherly love.” That was not in a Christian sense; it referred to incest, where one married their sister, typically to keep the family wealth contained in the family. This was common in Egypt as well as Syria. This is my point. When looking at history, we MUST review it within the context of that period and NEVER apply our current experiences to their lack of understanding of their thinking and motives.
This was Popper’s great mistake in focusing on this claim of destiny, which was really a great sales slogan rather than a true economic trend. Popper may have wanted to improve the methods of the social sciences to promote peace, freedom, and prosperity, emulating the function of the natural sciences and technology to increase the earth’s productive capacity. However, his book’s central theme is his critique of the myth of historical destiny and historical determinism, that is, the idea that history is beyond human control.
There have been those who have recognized that the individual plays a key role, and this idea of government possessing the power to manipulate society, championed by Marx and Keynes, remains the very core of understanding the true nature of the economy. Carl Menger (1840-1921) is the founding father of the Austrian School of Economics, with his landmark “Principles of Economics,” published in 1871. There, Menger laid the intellectual framework for the subsequent Austrian scholars who followed him.
One of the book’s main themes is that the value of a good is not determined by factors that can be objectively determined (e.g., labor or material costs) but by subjective valuations of the object in question by individuals. As I explained to China when I was invited to help them transition to Capitalism, they were monitoring 249 varieties of tea. The question was, why is this one tea selling for about $5 in one place but $1 in another? I asked where its origin was, and that is where it happened to be $1. I elaborated that there were transportation costs first and secondly that someone would pay more for one tea than another because of personal preference.
In this sense, Carl Menger, Leon Walras, and William Stanley Jevonssaw that economics has a human element that goes beyond supply and demand. ‘Marginalist Revolution’ with Menger and Jevons was added to with elements by Walras, who proposed that the commodities’ relative marginal utilities determined relative prices of commodities and thus explained the discrepancy in the value of goods and services by reference to their secondary, or marginal, utility.
It was John Law (1671-1729), who was the father of the Supply and Demand theory he observed as a trader on the floor of the Amsterdam Bourse. However, Popper grossly overlooked the individual and that we are raised in a particular culture that forms our fundamental beliefs. You cannot have open borders and assume that everyone will assimilate into some homogenous society. Such a transition period of forced assimilation is highly violent and destructive.
Emperor Valens (364-378AD) allowed the Goths to cross the border, assuming that he could exploit them to build his army. They were trained in Roman tactics and then turned on the Emperor from inside the Roman Empire. Valens met his death on August 9th, 378 AD, in one of the greatest military catastrophes ever suffered by the Roman Legions – the Battle of Aadrianopolis. In this fateful battle to the death with the Goths, the legions of Rome were totally annihilated. The devastation and carnage was so vast that the body of the Emperor Valens was never recovered. This battle was one of the worst defeats Rome had ever suffered. Before, No one had ever destroyed the mighty legions of the Roman army while under the command of an Emperor himself.
So much for Soros & Popper’s Theory of an Open Society
Posted originally on the CTH on July 28, 2024 | Sundance
After a vile, degenerate and blasphemous opening ceremony to the Olympics in Paris France, on the first day of competition the region suffered a total power failure.
Well, almost a total power failure.
You see, in the top of the picture showing the blackout, you might notice one area completely unaffected. That is the Sacre Coeur Church, the Basilica of the Sacred Heart of Jesus.
.
A loving God will not be mocked. The light of Jesus Christ can’t be overcome by the darkness of man.
Our faith is steadfast. God is in control.
🚨🇫🇷BREAKING: Power Outage Hits Paris 24h After Olympics Ceremony!
Parts of Paris are experiencing total blackouts tonight, the reason is still unknown. The first clip below shows the moment of the outage.
Power outage in Paris a day after France staged a degenerate opening ceremony of evil and mocked the Last Supper. Hallelujah. pic.twitter.com/vzgp9WQffN
As we head into the end of this cycle in 2032, this process concerns the collapse of Republican forms of government. We are rapidly approaching the collapse of Republican forms of government on a global scale, and I believe that this has become far more obvious since the COVID-19 scam. Even in Germany, friends think that something has seriously changed. We are dealing with the collapse of complete confidence and belief in the government itself, regardless of where it is on a global scale. This video is interesting, and it calls into question the tactics used by the government. The West always claims Putin has a double. Is the pot calling the kettle black?
Let us see what unfolds in the weeks ahead. The rumor is Biden will grant all illegals citizenship so they can change the politics of the country by creating a Democrat Progressive Dictatorship with one-party rule. Then, Biden will resign by September and let Harris become president to show the world she can do the job. In reality, she is just replacing a hand puppet and letting the Neocons continue to run our lives unimpeded as Blinkin and Garland, along with Nuland, use their Jewish heritage to fend off any criticism of their manipulations of society and thirst for war as just antisemitism.
They want NATO to create a false flag before the election to start a war against Russia. NATO will be beyond any congressional investigation – the perfect cover to start World War III. Haliburton moved to Dubai to escape scrutiny over the Gulf War. They will take Trump’s anti-war stance once again and call him Putin’s Puppet. Let’s see if they pull off this agenda. Our computer warns NOBODY WILL ACCEPT THIS ELECTION regardless of who wins.
We will have to go through this until the majority of people simply reach the conclusion that there is no trust left in those who wish to preside over us. The last collapse in government worldwide was all about monarchy. Nobody put it better than Thomas Paine (1737-1809) in his publication Common Sense. That was the inspiration that stirred the people to action. This is just part of the progress we see cyclically throughout human history. It is the political version of Schupeter’s Wave of Creative Destruction. The British even issued political tokens picturing the hanging of Paine.
Here is the last Private Wave #155 (1882.45-1934.05). We can see that a number of financial panics began during the third wave. That corresponded to the Panic of 2007-2009, which some call the Great Recession. The Fourth Wave marked the beginning of the Progressive Era in 1912, and that corresponded with the peak in government we saw in 2015.75. Instead of socialism, Trump was sworn in precisely on the Pi target to the very day, representing the opposite of the 1912 Progressive era. Would War I follow as we now see our world leaders are all pushing for World War III so they can (1) default on their debts and (2) hope to strip-mine Russia of all its natural wealth and resources? This previous wave peaked in 1929 and began the Great Depression, ending with Socialism and FDR confiscating gold. Hitler came to power precisely on the Pi Target from the to in, and there was a worldwide sweep of whoever was in power thrown out, marking the rise of FDR, Hitler, and Mao.
As in Physics, every action causes an equal and opposite reaction. Until we learn to live with the cycles and stop trying to manipulate society to create this fictional perfect world that cannot exist, as was the case with Communism, then perhaps, like a dog, we will one day shake off this political manipulation and just for once advance as a society.
Communism was tried in ancient Sparta, Greece. As I have said before, this city-state never issued coins. Yet they waged war against Athens and defeated the land of freedom and democracy in 404 BC. Karl Marx drew much on this segment of history, including the writings of Aristotle. Even Joseph and the Pharoach’s Biblical story is a blueprint for living with the cycles.
I see the world as the Biblical story of Joseph telling the Pharaoh there will be seven years of plenty and seven years of drought. This story attempts to tell us that there is a business cycle, and we better live with it. If you know when the cycle will turn down, you then prepare to live with it and reduce its impact on society.
Both Keynes and Marx pushed the theory that the government possessed the power to alter the direction of the economy. Neither man understood the complexity of the global economy and how we are all interconnected. If it were not for World War I and II, the capital would never have shifted from Europe to America, replacing London as the Financial Capital of the World.
Even when we look at war, this has plagued human society for thousands of years. War comes when economic distress is set in motion just as the Barbarians smelly weakness in Rime and then struck. Some sought to wage wars of conquest. However, once an empire has risen to its maximum state, then the political corruption internally eats away at it like a cancer from within. Thus, all empires, nations, and city-states are buried in a common grave because, as a collective society, we seem to be incapable of learning from the past mistakes of others, and inevitably, that ensures that history will always repeat itself. It would be fantastic if we actually advanced as a society politically, rather than just technologically.
Posted originally on Jul 26, 2024 By Martin Armstrong
The government insists that the economy is fine, thriving perhaps, and has asked the public to pay no mind to their current financial situation. No one, aside from those living off government assistance, are better off now than they were four years ago. Americans cannot be gas lit into believing the economy is sound when every social-economic group is suffering.
Americans have already lost confidence in the economy and, therefore, in the government.
A recent poll by Affirm found that 3 in 5 Americans believe the US is in a recession, and most believe that recession began in March 2023. Another poll from Guardian/Harris found that 56% of Americans feel that the recession has already arrived. Seven in 10 Americans have reported that they are unable to save for the future. About 68% of respondents from the Affirm poll believe inflation has caused the recession, but few realize what causes inflation.
Credit card debt has reached an all-time high, with 8.9% of balances falling into delinquency as of May 2024. Bankruptcies are on the rise both personal and corporate. A CNN poll discovered that 39% of Americans worry that they may no longer be able to pay their bills. The poll saw similar sentiments during the Great Recession when 37% of Americans feared the next round of bills. Moody’s Analytics believes that household spending has risen $925 per month compared to three years due to inflation. Sixty-five percent of respondents said that the cost of living crisis is the most significant issue our nation faces. Politicians would be wise to focus on domestic issues as the people are on the brink.
Americans are spending more on less as economic conditions have begun to impact the average person’s quality of life. CNN also reported that 35% of adults are taking on second jobs to combat the price of living. Sixty-nine percent are spending less on entertainment, a correlation we have seen with corporate bankruptcies primarily rising in non-essential sectors. Another 41% say they cut down on driving to save on energy costs. Sixty-eight percent of American families have had to cut back on grocery spending, despite US Treasury Secretary Janet Yellen denying food inflation entirely.
Bidenomics failed. We are in a recession but not a depression. People hoard when they fear for the future, and that is happening not only as a result of economic conditions but geopolitical tensions and war will cause people to spend less. Then, to fund these wars and other spending packages, the government raises taxes, which is always recessionary. The computer had long warned that the American economy would turn down in May 2024 and not resurface until 2028.
I noted that real estate in the United States would turn into a buyer’s market in May 2024 going into August 2028 in a reversal from the buyer’s market we’ve experienced since 2020. The 2007 high on the Shiller Index was the precise day of the Economic Confidence Model. So far, all the indicators have confirmed that we should have a recessionary trend into 2028 with this turn in the model on this wave.
The National Association of Realtors finally agreed that we are now amid a buyer’s market after June posted the lowest number of sales for 2024 despite a notable rise in inventory. Home sales fell 5.4% in June from May, when the market flipped, to 3.89 million units. This figure is also 5.4% lower than home sales in June 2023.
Gone are the days where buyers would forego inspections and entering bidding wars where the listing price was by no means the final sale price. Inventory from June 2023 to June 2024 has risen 23.4% to 1.32 million available units. Inventory is still a challenge, as are housing prices. The median home cost $426,900 last month, marking a new record-high as well as a 4.1% annual increase.
Homes on the lower end of the spectrum have been keeping averages down. Single-family units between $200K and $350K rose 50% in the past year, according to Realtor.com. There are more homes available now than there have been since May 2020, when sellers reigned supreme. Mortgage rates are far higher than during the 2020 era, and Americans are seeing their available funds dwindling. It is harder for potential buyers to enter the market.
Smart money views mortgages as an alternative to unsecured government debt. Cash remains king with 28% of buyers who have the means opting to forego mortgages entirely, and often can decline high insurance premiums as well. We are also witnessing a mass migration from blue states into red states and should expect prices to decline where there is a dampened demand. It is difficult to view real estate from a national perspective in the United States as demand is up in red states as people continue to leave increasingly oppressive policies regarding taxation, crime, education, and business. If you were thinking of buying a new house right now, lock in the interest rate, for with war on the horizon, long-term rates will rise.
Posted orginally on Jul 25, 2024 By Martin Armstrong
Britain believes the next world war against an “axis of upheaval” will begin within three years. General Sir Roly Walker has issued a warning that Russian President Vladimir Putin will seek revenge against the Western powers who supported Ukraine. He believes China, North Korea, and Iran will form an alliance against the West by 2027 to 2028
This is in line with our computer models that have long insisted we would see a rise in both international and domestic conflicts throughout most nations by 2027 going into 2028. Britain is already quietly at war with Russia. Our UK array on the 10-year shows higher volatility into 2025.
I explained at the London Seminar that the Brits are extremely effective secretaries and we have a massive amount of data that helps us to predict what is to come. Interest rates rallied up five years to the downtrend line, but during times of war, interest rates must go up. The pound could eventually fall to 80 cents – it’s a confidence factor. As long as people anticipate war, you’re looking at capital outflows.
Everything must be viewed from a global perspective. I also explained in London that Taiwan may cease to exist as a nation by 2028. “A problem in one area is likely to trigger a sympathetic detonation in another and therefore it is a global problem looked at from different perspectives around the world,” Sir Walker stated. The true problem is that the NATO Neocons cannot resist the desire to engage in warfare. They have already set up the stage to attack China over Taiwan. It is not a matter of China becoming sympathetic to Russia, but rather, China has long felt that the international community is interfering in their personal affairs.
The British army will be ready to fight and kill the new formation of axis powers by 2027. Sir Walker believes the British army is outdated in troops and strength and needs to rebuild. Every nation is increasing military spending. There is a cycle to war and sadly it will soon be time for the next conflict.
The European Union has revoked Hungary of its right to host the next summit. The EU supposedly has a rotating presidency of council to maintain the appearance that each state has an equal say in the direction of the bloc. The truth of the matter is that the unelected elite in Brussels control all of Europe and will silence dissenters, as Hungray’s Viktor Orban recently learned.
The next EU summit was to take place August 28-29 was slated to be Hungary’s opportunity to share its ideas for matters like foreign policy with the rest of the bloc. EU Foreign Policy Chief Josep Borrell planned a “formal” council meeting on the exact dates of Hungary’s summit to undermine the country’s voice in the bloc. Now, Borrell is revoking Budapest’s ability to host the next meeting and moving it to Brussels.
“We have to send a signal, even if it is a symbolic signal, that being against the foreign policy of the European Union … has to have some consequences,” Borrell told reporters. His reasoning is that Brussels vehemently disapproved of Orban’s “peace mission” after he met with leaders in both Russia and China this July. Borrell believes “all member states — with one single exception — are very much critical about this behavior,” adding that he believed it was “appropriate to show this feeling and to call for the next foreign and defense council meetings in Brussels.”
Simply put, Orban wants to end the war in Ukraine, which is completely against the narrative of those in Brussels who want to promote the idea of Russian aggression to promote an escalation in war. “My job is to convince them to shift from the pro-war policy to a pro peace policy,” Orban said. “They believe that they can destroy the military [of the] Russians … but I don’t believe this at all, because I know the Russians, I know the Soviet Union, I know the Ukrainians. I’m belonging to a neighboring country. I know the whole context. It’s impossible to find a solution on the battlefield, we will lose every day thousands of innocent people,” Orban told CNBC, also adding that “human life is the most precious thing we can lose,” citing the thousands who have already died in this endless war.
Add to this the trade tensions between Ukraine and Hungary. Hungary and Slovakia are exempt from the EU ban on Russian crude oil. These landlocked neighbors are to receive oil through the Druzhba pipeline, but Ukraine has prevented these nations from receiving shipments. Lukoil may be the main supplier using this line, but Russneft, Tatneft, and Gazprom also utilize this line, leading Ukraine to intervene.
“The EU sanctions, which we have disputed on several occasions, and which in this case have again been shown to have a greater negative impact on Slovakia and the EU than on Russia itself, clearly state that Slovakia has an exemption for oil imports until the end of the year,” Slovak Juraj Blanár explained in a joint-statement he made to the European Commission with his Hungarian counterpart, Péter Szijjártó. “It is strange that a country aspiring to be integrated with the EU is seriously jeopardising the energy supplies of two member states,” Péter Szijjártó commented. Will the European Commission side with its members or Ukraine? What is the benefit of being in a “union” that does not support you in any form?
Szijjártó said that Ukraine should forget the blocked €6.5 billion in EU aid as they will not vote to help Ukraine as it threatens their energy supply. Hungary has been demonized by Brussels for blocking additional aid to Ukraine, with neocon Borrell still pushing to send Ukraine €1.4 billion by the beginning of August. There is no European Union. There is a European authority within the pretend union that controls all members.
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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
Centinel2012 