Investors’ curiosity has peaked as central banks are increasing their gold purchases. We are not going back to a Bretton Woods type situation and that is not the issue. You must understand that gold is neutral. Central banks are buying gold because the Neocons have weaponized the dollar.
Russia was removed from the SWIFT system, and private citizens’ assets were confiscated. When Russian assets were removed from SWIFT, a threat to the world was issued to say, “Hey, if you don’t do what we tell you to do, we will take you out of SWIFT.”
This is not the end of the dollar. Money continues to pour into US equities, particularly the Dow. Why? When the drum of war is beating, major institutions rush to move their money into a safe haven, which happens to be the US at this point in time. The big money is not purchasing start-up equities on the Nasdaq, for example, as they will not take that risk. Our computer model indicates the Dow will continue rising into 2032 as it remains one of the last safe havens.
The West has become extremely aggressive in its geopolitics. You simply do not buy the debt of your enemy. Central banks are buying gold because the USD is political.
There is a stark difference between short-term and long-term bonds. The central banks have zero control over the short-term and that is how this whole QE fiasco began as central banks began purchasing long-term debt in an attempt to reduce long-term interest. Why would you buy long-term when war, the primary driver of inflation, is looming? This is a serious situation that the neocons who have weaponized the dollar simply do not understand.
QUESTION: I believe you analyzed inheritance and how altering it had contributed to society’s decline. Politicians here in Australia are talking about when you die; everything should go to the state because it is not fair that one person inherits more than another.
I would greatly appreciate any comments you might have historically on that subject.
Bret
REPLY: Yes, I forgot when I did that analysis. It was a long time ago. Inheritance Taxes are Marxist and highly destructive economically. Suppose you have a company worth $100 million; your children must pay 40% taxes. They have to fire people and sell assets to cover the tax. This has been HIGHLY destructive in farming. Heirs have been forced to sell off farmland to pay the tax. This is how large farming companies and Bill Gates have accumulated farmland. This exploitation of the heir reduces productivity and thus reduces GDP and employment.
Before Marxism, inheritance became the primary reason the first son inherited everything during the Middle Ages, and the second son was donated to the church to become a priest, whether he liked it or not. In ancient times, if you had many children and evenly divided an estate among them, you effectively destroyed society’s productive capacity.
There had previously been two types of marriage in France, temporary and permanent, until the Catholic Church insisted on only permanent marriages. Charlemagne married all his daughters in only a “temporary” marriage, meaning that they possessed no legal right to the throne or property. That was the distinction between the two types. The question of inheritance was a major issue historically.
The ancients knew the consequences of dividing estates (partibility) among heirs. Sparta in Greece rewarded fathers based on the number of children. Sparta wanted soldiers, so the more children, the better. But Sparta undermined its own economy in the process. Production of children was rewarded in Sparta, and the fathers of three or four sons were exempted from military service and other economic burdens. Aristotle is sharply critical of this practice and wrote:
“It is obvious that, if there were many children, the land being distributed as it is, many of them must necessarily fall into poverty.”
If you create a major company like Ford Motors and you die, then the government is only interested in grabbing taxes. They think nothing about the jobs this company creates. The ancients realized that even dividing it up equally among the heirs destroys the productive capacity of the entity. This is why they evolved into the first son who inherited everything to preserve the estate rather than destroy it.
After 2032, we MUST prohibit any such idea of direct taxation (income/inheritance) as the Founding Fathers of the US Constitution intended. They understood this lesson from the past – Marx was a hateful, jealous person, only concerned with not having as much as his neighbor. This is what has brought us to the brink of disaster. Our government has followed Marx rather than those who created the Constitution out of experience.
Thomas Paine was famous for saying: Give me liberty or death. But he also made it very clear why history repeats fro the people refuse to ever learn:
Let me explain something: within a few hours of taking the White House, Biden’s VERY FIRST order was to open the borders. They are flooding the country with nearly 14 million illegal aliens, and that does not count the people who were not caught. I am getting emails from people who were waited on by an illegal alien waitress who barely spoke English and did not even comprehend that when you order drinks, they come before the meal. This seems to be an interesting new twist. If I want to migrate to Zurich, I have to speak German. This is all about changing America for politics.
PM Justin Trudeau’s goal of importing immigrants is going as planned. Statistics Canada reported that the nation added over 1.27 million new residents between January 1, 2023, and January 1, 2024. This 3.2% uptick in the population is the highest on record since 1957.
Yes, immigration is the main reason that Canada’s population is soaring. Statistics Canada said that the population would have only grown around 1.2% if not for open border policies. The Trudeau Administration insists that overflowing the country with immigrants is mandatory to increase labor. “It is not the bodies we are bringing in; these are bodies that fill in the empty spaces in the labour market,” a rep for the Toronto Metropolitan Centre for Immigration and Settlement at Toronto Metropolitan University, told Global News. “They bring a very-high level of skills.” Canada’s unemployment rate rose to 5.8% in February 2024 from 5.7% the month prior. Notably, young men are increasingly unemployed based on the data.
Where are the highly-skilled workers that the left speaks of? Canada is facing a shortage of healthcare providers. One in five Canadians in Ontario (2.2 million people) do not have regular access to a primary care physician as the universal health care system has failed. Toronto and other provinces have the exact same crisis. Countless health care workers fled the field in the wake of the COVID-19 pandemic and never returned. The doctors imported to Canada are not even permitted to work, with current estimates stating 13,000 qualified immigrants are currently unable to practice medicine due to red tape.
Canada is experiencing a housing crisis, with an estimated 35,000 homeless people living on the streets at any given night. Around 235,000 Canadians are unhoused. There is a massive shortage of housing, with new builds reaching only 320,000 in 2022. Most estimates believe that Canada will need to build an additional 4 million new housing units by 2030, of course, to accommodate the CURRENT population.
Canada’s economy, infrastructure, and society cannot accommodate this rapid population boom. This is happening among all the World Economic Forum-guided nations. It is completely unsustainable by design.
The US-Mexico border crisis has been a disaster for Mexico. The US openly asked citizens from other nations to flood its border with Mexico without concern for the repercussions. Mexico cannot handle the influx of migrants storming its own borders on their way to the Land of the Free. Mexican President Obrador is asking the US to fix issues throughout Latin America in exchange for aiding the crisis at the border.
“We do want for the root causes to be attended to, for them to be seriously looked at,” Obrador said on the show 60 Minutes. The president then stated that the US should send $20 billion in aid annually to Latin American countries and nearly admitted that his requests are a form of diplomatic blackmail. He is also demanding that the US grant Mexican migrants legal immigration status.
Lifting sanctions on Venezuela and ending the embargo in Cuba are two potential solutions to improve conditions in those countries as sanctions never work anyhow. However, Obrador is completely overreaching with his other suggestions and has become embolden with Biden in power. It is not America’s responsibility to fund other nations or their people, especially considering America is $32 trillion in debt and counting. Providing aid is NEVER the solution because governments mismanage the funds, ensuring they funnel back into their own government.
America cannot fix failed socialist policies that other nations adopted. It is completely unreasonable to expect America to fund other nations. Why should America prioritize Mexican immigrants? Why do people want to leave your nation, President Obrador? Are you doing anything about your massive cartel crisis that is causing people to flee for their lives?
The quality of living in America far exceeds the conditions in the majority of Latin America. Migrants are receiving more from the US government per month than they would have received in a year actually working in their home countries. These suggestions/threats are complete blackmail, and I highly question whether he would have the nerve to make these statements if we had a strong leader as president. We went from asking Mexico to fund the border wall to allowing Mexico to extort the US to fund failed socialist countries.
Laken Riley’s death by an illegal alien was entirely preventable. Absolutely nothing was done to prevent another similar situation from happening again, and now young women are being murdered by migrants all across America. The left has been suppressing these stories, but these women deserve justice.
In Chicago, where only criminals are safe, another young college student was raped by someone who should have never been in America in the first place. Elvis Hernandez-Pernalet of Venezuela followed a young woman home from the UIC campus. This coward attacked her from behind, raped her, robbed her of her jewelry, and fled the scene of the crime. This is the SECOND woman that Hernandez-Pernalet followed home from a train and sexually assaulted. He also has previous charges for robbing a department store. “[He] actually admits to the police that he believed he had killed her and [is] seen attempting to move the victim’s body,” said Hinton. Hernandez-Pernalet ran when he realized a witness saw what was happening.
A Haitian migrant from a country amid a civil war, seeking asylum, has been charged with raping and murdering a 15-year-old girl in Massachusetts. Cory Alvarez, 26, was part of Biden’s disastrous program that has been using federal funds to FLY MIGRANTS INTO THE UNITED STATES. The Department of Homeland Security said that flying illegal, unverified migrants into America is a “safe and orderly way to reach the United States.” The government does not care about its own citizens, or anyone for that matter.
Ruby Garcia was a 25-year-old woman from Michigan with her entire life ahead of her. Brandon Ortiz-Vite, an illegal immigrant with an extensive criminal record, admitted to murdering her. He shot her point blank and left her body on the side of a highway. He was deported once in 2020 but managed to re-enter America thanks to Biden’s open border policies. The media is portraying this incident as another casualty of domestic violence.
U.S. Representative Hillary Scholten, a far-left Democrat from Michigan, finally acknowledged that there is a problem. “My heart breaks for Ruby Garcia and her family as they grapple with this unspeakable tragedy. The individual who committed this heinous crime should be prosecuted to the fullest extent of the law. I’m continuing to push for bipartisan immigration reform that both secures our border and makes sure that individuals who come to our country are fully vetted to keep our communities safe,” she stated.
Why are we not protecting American women? Why is the safety of our women a partisan issue?
Migrant women are being assaulted as they wait to cross the border. There is an ongoing open sex trafficking operation happening at the US-Mexico border that no one wants to discuss. “You have to pay with your body,” one migrant told the NY Times. “They raped us so many times they didn’t see us as human beings anymore,” she explained of her harrowing story where she was locked in a room, drugged, and repeatedly raped. They are also doing this to children. It is to sickening to discuss.
Joe Biden, Border Tzar VP Kamala Harris, and everyone supporting open border policies are directly responsible for this massive human rights abuse. The #MeToo crowd and feminists are silent. They’re OK with the situation so long as the victim can have an abortion after. The left insists that only the conservatives have a problem with millions of undocumented people surging our borders.
I strongly doubt that Chairman Xi, President Putin or Chairman Kim think about Joe Biden for a single moment. Everyone knows Biden is a propped optic for the people behind the administration who control him.
At a certain point it just gets embarrassing to keep pretending. Check his polling, Biden isn’t collapsing because the left dislike his policies; Biden is collapsing because more and more leftists are being ridiculed and shamed.
Today, Joe Biden celebrated his national transgender egg roll days with the “oyster bunnies.” WATCH:
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It was really bad. Really bad.
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