Posted originally on Sep 11, 2025 by Martin Armstrong 

The notable revolutions in Nepal include the 1951 Nepalese revolution, the 1990 Nepalese revolution, the Nepalese Civil War from 1996 to 2006, and the 2006 Nepalese revolution. Each of these events played a significant role in shaping Nepal’s political landscape. Nepal has a fairly regular revolutionary cycle in its blood. This one in 2025 is right on schedule. The tension began to escalate as the year 2024 drew to a close.

Posted originally on Sep 10, 2025 by Martin Armstrong |

COMMENT: The comment you posted was correct. Jim Cramer always said bad news is good news. He and everyone else continue to advocate for lower interest rates, and you have shown that when rates decline, so does the economy and stock markets. It looks like Trump is not much better with his constant attack on the Fed.

Joe

ANSWER: I am a trader – not a promoter, academic, or a TV host. When you actually have skin in the game, you cannot trade based on stupid theories. The fact that these people can say that BS time and time again that lower rates are suitable for the economy, makes the word STUPID and a compliment to their mental capability, for they have not yet invented a word to describe their cognitive ability, which seems to be so myopic that they are at the level of an ameba.

I agree, Trump’s attack on the Fed is absolutely dead wrong. The Fed has lowered rates during the Great Depression and every single recession right up to the 2007-2009 recession with ZERO impact whatsoever. No matter how loud I scream, they will NEVER change this propaganda, and they will not only doom the country, but also cause a lot of economic harm to people who act on this propaganda.

The ECB went NEGATIVE on interest rates in 2014 and maintained that until 2022, with ZERO impact on reversing the economic downtrend. They will NEVER learn, and this is what 2032 is all about. Those in power neither understand how the economy functions nor do they care about trying even to figure it out.

No matter what you show a Democrat, it just makes them “feel all warm and fussy” inside to hurt people who have more than they do. They refuse to look at history and show just once where their theories have EVER worked a single time. We have the same entrenched stupidity on the right with this nonsense that lowering rates is good for the economy. We are doomed because of this foolishness on both sides and the REFUSAL even to look to see if this propaganda is right or wrong.

The stock market has NEVER peaked at the same level twice in history. The peak in Call Money was 1899, and the reason was a financial crisis in Britain that forced capital to be recalled from the emerging markets, which was, back then, the USA. The capital outflows led to shortages in cash, causing rates to rise. In 1929, the biggest rally occurred, with rates at their lowest, as capital from around the world concentrated in the USA following World War I.

The goldbugs have told everyone to sell stocks and that only gold will rise. Like the Marxists, it just makes them feel warm and fuzzy inside to hate stocks and preach only gold, but will NEVER investigate what they are saying. This is what makes it so hopeless.

Even during the Great Depression, the most famous analyst was Irving Fisher. He predicted that the market had reached a new plateau and implied it would never crash. He was dead wrong, and his reputation was severely impacted. Irving Fisher’s contemporary public reputation was utterly destroyed by the 1929 crash, primarily because of a famously ill-timed statement.

Galbraith’s socialist philosophy clouded his view of the Great Depression, blaming speculation and the private sector while ignoring the government defaults from Europe and Asia that contributed to the collapse of 9,000 banks. The primary issue in analysis is that people often start with a theory and attempt to prove it, rather than genuinely learning from the data.

Every single BS theory these people espouse is just utter nonsense. They have NEVER looked at markets and are incapable of basic research. They open their mouths and spit out words merely because everyone else does, and they are scared to death of peer review by yet other idiots. Yes, I have fought against the bankers, the Deep State, and various intelligence organizations, and all try to silence me and put out BS, desperate to try to prevent people from simply understanding reality.

Even the complete nonsense that currencies are FIAT and only gold will survive is another absolute piece of raw BS. Again, they just take the Austrian School nonsense and never look at the monetary system at that point in history, when in fact the exchange rates between currencies were purely based on the metal content. There was no real superpower or centralized dominant economy when they were trying to come up with explanations of a process they did not fully understand. The first non-metal monetary system was based on a central ledger system of entries in ancient Egypt. Money was essentially equivalent to wheat that they deposited in a bank, and they were the first to implement a GIRO banking system in the world. You could transfer money from your account to another (GIRO), which did not appear until the Italian bankers of the Middle Ages. The Egyptians did not use coins until they were conquered by Alexander the Great in 332BC. So for thousands of years, it was purely book entries in a bank.

In order for Egypt to engage in international trade, it issued imitations of Athenian Owls. This proved that the value of an Athenian Owl was worth more than the metal content. They could have issued their own coinage, but did not. They imitated the Athenian Owl because that was the recognized currency in international commerce. There was a premium to the metal content or “fiat”; it was backed by Athens itself, not the metal content. Instead, its value comes from the trust people place in the government that issues it and the fact that it is the only legally accepted form of money for paying debts and taxes. The word “fiat” comes from Latin and means “let it be done” or “by decree.” Essentially, the currency has value because the government says it does, or because the people trust that government over others.

The Celts routinely imitated the coinage of Macedonia, starting with the gold of Philip II and then the silver of his son Alexander the Great. Again, this demonstrated that there was a premium to the coinage over and above that of the metal content. This is the very definition of a fiat currency, whose value is based on the fact that the government issues it.

India was the source of the spice trade. They dealt extensively with Rome and Roman coins that circulated in India. They too imitated Roman coinage, and again, the value of the currency was NOT the metal content, but who do you trust? Proof of that statement is here, an Indian imitation gold aureus which weighs nearly 60% more than a genuine gold aureus of Rome.

India was still imitating the coinage of the Venetian Empire during the 18th century. Issuing gold in the form of the most recognized currency in world trade confirms that the value of the currency was more than the metal content.

The Austrian Maria Theresia Thalers are perhaps the most imitated coin, for they were used in international trade by far. She died in 1780, so they continued to strike coins dated 1780, the year of her death. Again, the metal content is generally correct, showing that the coins were acceptable internationally.

Fortunately, you will NEVER convince a fool that he is foolish. There will be plenty of these people who will refuse to listen. They MUST lose their shirts, pants, the house, car, the wife, and the kids before they will ever understand. We learn ONLY from our mistakes – not our victories. So there will be a herd for us to trade against.