Posted originally on Apr 15, 2025 by Martin Armstrong
There is much speculation about Germany withdrawing its gold holdings from the United States. We have seen this occur in recent history. In the 1960s, French President Charles de Gaulle began challenging the U.S. dominance in the global monetary system. Gold typically flows where capital feels safe, but in this case, France repatriated its gold from the US due to political tensions.
In 1965, French President Charles de Gaulle withdrew his ministers from the Council of the EU, thereby constituting a de facto veto over all decisions, which became known as the “Empty Chair Crisis.” Several issues regarding European political integration led to the Empty Chair Crisis. There was a push at that time to create the quasi-federalization of Europe. De Gaulle believed that national governments should move towards integration. Still, he did not agree with the Commission’s attempt to create some new super-central state or a federalized Europe, extending powers of the EU beyond national borders as we have today, which Margaret Thatcher also opposed.
President Charles de Gaulle has proposed the Fouchet Plan was a plan back in 1961 to create a new grand design for Europe. Charles de Gaulle wanted to develop a three-power directorate, consisting of France, Britain and the United States. The idea was to form a new ‘Union of States’, as an alternative to the European Communities (EC). De Gaulle feared a loss of French national influence in the EC as there was a drive to federalize Europe back then.
After the failure of the Fouchet Plan and De Gaulle’s veto of the United Kingdom’s application for EC membership, the Commission attempted to move towards integration by proposing an idea that would combine the Common Agricultural Policy (CAP), the European Parliament, and Commission. De Gaulle supported the creation of the CAP and favored its enactment. However, he disagreed with the Parliament’s new role, the Commission’s strength, the shift towards federalization and a central state, and the budget proposals for financing the CAP. De Gaulle made it a condition that majority voting with a right to veto must exist if France was to participate in the EC. When de Gaulle was denied a more intergovernmental Commission or voting and veto rights, the French representative left the Council of Ministers thereby creating the Empty Chair Crisis.
The Luxembourg Accord was an agreement reached in January 1966 to resolve the “Empty Chair Crisis,” which had caused a stalemate within the European Economic Community. Then on June 21, 1966, de Gaulle withdrew France in a shocking move, taking its troops from the North Atlantic Treaty Organization (NATO). This decision, led by French president Charles de Gaulle, complicated relations between the U.S. and Europe amidst clashing American and Communist spheres of influence. Though France remained politically in NATO, its actions cast doubt on the organization’s future as a counter to Soviet military power and control back then.
From 1963 to 1966, France secretly implemented Operation Vide-Gousset to repatriate 3,313 tons of gold reserves from the Bank of England and the New York Federal Reserve. It took over 44 boat trips and 129 flights to export the gold back to the Banque de France. Since France converted its dollar holdings into gold, the French made out well when the dollar fell during the Bretton Woods period and lost 96% of its value against gold. France then withdrew from the London Gold Pool in 1966 after recovering its gold holdings to force the US to endure heavier losses.
France’s actions caused a gold run with nations eagerly reducing their holdings at the New York Fed. West Germany reclaimed 1,200 tons of gold. Switzerland increased gold purchases from both the US and UK, but did so more discreetly than France to avoid political upheaval. By 1971, before the gold window closed, the United Kingdom requested $3 billion in gold conversions from the US. This may have been the final move that pushed Nixon to act. The Netherlands and Belgium also began exporting gold holdings from the US at this time.
US gold stock fell from $22.7 billion in 1950 to $12 billion by 1971. On August 15, 1971, President Nixon closed the gold window, ending the convertibility of the dollar into gold. The 1971 closing of the gold window by Nixon cut the link to gold, ending Bretton Woods.
“The speculators have been waging an all-out war on the American dollar,” Nixon declared, and to “protect the dollar from the attacks of the international money speculators” would take “bold action.”
“I have directed [Treasury] Secretary Connolly to suspend temporarily the convertibility of the dollar into gold.”
France’s actions were a catalyst to the inevitable decision to close the gold window, but not the sole cause. Yet, as we are seeing today, the primary reason that nations would like to withdraw their holdings comes down to politics. Charles de Gaulle said that the dollar was “monumentally over-privileged” and moved to hurt the USD. The incoming German government is now looking to withdraw their holdings from the US solely due to their distaste for America.
Posted originally on CTH on April 3, 2025 | Sundance
The response from the EU is exactly what we would expect to see from the end of the 80-year-old Marshal Plan.
EU Commission President Ursula von der Leyden has three big concerns with the new trade/tariff reset. I strongly suggest everyone to read the EU concerns slowly to fully absorb decades of hypocrisy now surfacing:
#1 The EU will not be able to compete for U.S. market share with 20% general tariffs and 25% auto tariffs.
#2 The EU must deploy countermeasures against the risk of losing industrial capacity and manufacturing to the United States.
And #3 The EU must defend itself against China dumping cheap products into the EU now rejected by the USA.
von der Leyen is concerned mostly about the extremely valuable U.S. consumer being leveraged by President Trump, essentially blocking exploitation from EU and Asia. The EU will not tolerate losing access to the most valuable customers in the world, Americans.
Showcasing the mindset, Ursula von der Leyen vows to take all action needed to retain U.S. customers, even if those customers no longer want her products. The USA will allow Europe access, or there will be hell to pay. I must say this is quite funny.
(Via Politico) […] Von der Leyen said Trump’s tariffs would have dire consequences for consumers and businesses that have prospered through trade with the United States since World War Two.
[…] The EU chief executive said the bloc would ready countermeasures against Trump’s latest tariff broadside, in addition to a €26 billion package responding to tariffs he has already imposed on steel and aluminum. At the same time, she vowed, Brussels will work to protect the industries most exposed.
“We are already finalizing the first package of countermeasures in response to tariffs on steel, and we are now preparing for further countermeasures to protect our interests and our businesses if negotiations fail,” von der Leyen said from Samarkand, Uzbekistan, where she was attending a summit.
“We will also be watching closely what indirect effects these tariffs could have. Because we cannot absorb global overcut capacity, nor will we accept dumping on our markets,” von der Leyen said, as the bloc braces for a flood of cheaper exports coming from China and elsewhere that will be shut out of the U.S. market. (read more)
As noted by Treasury Secretary Scott Bessent, all of the global trade partners would do themselves a favor if they did not react emotionally with increased countervailing duties.
The currently outlined U.S. reciprocal tariffs represent a ceiling amount levied. The goal is to lower the tariffs to zero by eliminating all trade barriers. If the EU raises their baseline tariffs, the only thing that happens is the U.S. side increases at the same proportion. The higher von der Leyen goes in her tariffs, the higher the U.S. countervailing duty applies.
Posted originally on Mar 30, 2025 by Martin Armstrong
QUESTION: Mr. Armstrong, I have followed Socrates for over a year now. I was told by friends you run the most unbiased site in the industry. I greatly appreciate how objective it really has been. What I am dumbfounded by is how, with the tension now with Iran and Trump’s ultimatum to Iran, even things like this take place when Socrates projects months in advance. I don’t want the code. You were willing to give your life to protect that. Can you give us a hint at how Socrates can see things nobody else does?
A most respectful convert
MM
ANSWER: I believe that pressure is building within the system, and it is that pressure that compels people to react. The computer forecasts that pressure, not some order that Trump may or may not sign. Trump is compelled to take action because of the pressure. The computer tells us when that pressure will reach a turning point that compels a response.
We have lost the knowledge that existed before the Dark Ages. There is a mysterious force that many do not wish to acknowledge even exists because they cannot see everything simultaneously and connect the dots. I am working hard to deliver two books, which I hope will be my legacy and what I leave behind. I have tried my damndest to defeat my own computer, and I have always failed. The sequel to the movie on me, The Forecaster, may be out by May. I was asked a tricky question, understanding that the forecasts are not my personal opinion. The question was:
How does it feel to live through your own forecasts?
They have been filming me at every conference since 2011. So they have recorded all the forecasts, including me standing up in 2011 and forecasting that the War Cycle would begin in 2014.
Here is the first draft of the Prologue to the book on the business cycle and the Economic Confidence Model. I am working hard to complete it.
Posted originally on Mar 25, 2025 by Martin Armstrong
Few know that Bill Gates heavily lobbied for the Inflation Reduction Act, which former President Joe Biden later admitted was intended to combat climate change and not inflation. Gates met with key lawmakers like Senator Joe Manchin ahead of the 2022 legislation. Another tool utilized by Gates was Breakthrough Energy, a venture fund he established in 2015 to promote net zero policies. The group recently laid off most of their employees in Washington, D.C., as Gates shifts methods for “climate” advocacy.
“We need to go from 51 billion tons of emissions per year to zero,” Breakthrough Energy stated on its website. “The only way to avoid the worst impacts of climate change is to reduce global greenhouse gas emissions from 51 billion tons a year, where they are now, to net-zero—and we need to do it by 2050. That means we need unprecedented technological transformations in almost every sector of modern life.”
Gates has every intention of continuing to push for net zero by 2050. However, Gates admitted that he needed to shift his policy amidst the new political landscape where he cannot directly influence policy. And what better way to do that than to throw money at the private sector. The focus is now on creating clean energy technology rather than manipulating public policy. Gates admitted he had to shift course because Donald Trump was revitalizing the energy sector and lifting restrictions on fossil fuels.
Breakthrough Energy and Gates are now focusing on Europe, where leaders are still on board with the Paris Accord. Instead of acknowledging that Europe’s economy is failing due to these initiatives, Breakthrough claims that key companies like Volkswagen, ThyssenKrupp Steel, Northvolt, and ACC Gigafactories are failing because Europe is not adopting clean energy fast enough.
“Europe is at a crossroads. In his analysis published in September 2024, Mario Draghi highlighted an “existential risk” and forecast Europe’s “slow agony” if it doesn’t radically change course to reverse declining productivity, investment, and innovation. Recent announcements only seem to confirm this dire prediction: industries are reducing production across Europe (Volkswagen, thyssenkrupp Steel); announced investments are being cancelled or put on hold (Northvolt, ACC Gigafactories), and industrial output in Europe’s four largest economies is declining, with Germany, France, Italy and Spain having recorded a year-on-year drop in the production of capital goods and consumer durables.
There is no denying it: Europe is in crisis, one in which its established industrial base is eroding while new sectors fail to get off the ground. This is particularly concerning for cleantech where Europe’s ambitions are high, but the economic realities are sobering. As the recent bankruptcy of Northvolt reminds us, even with solid industrial policy in place, it is hard to scale up in Europe. Turning this situation around will be one of the overriding priorities of the new European Commission, which has recently unveiled the Competitiveness Compass and will soon produce the Clean Industrial Deal, two new (long overdue) economic and industrial policy programs. In a volatile security and fractured geopolitical environment, with looming threats of trade wars and deepening systemic competition, European policymakers have their work cut out for them.”
The European Commission welcomes Gates’ proposal and believes it can perpetually spend to achieve net zero by 2050. I explained in another blog post how scientists have stated that this goal is IMPOSSIBLE. Moreover, the World Economic Forum has pushed the EU to create the Clean Industrial Deal (CID) through a €100 billion spending package. It is no conspiracy to point out that globalist organizations are pushing Europe into economic ruin.
Posted originally on Mar 17, 2025 by Martin Armstrong
QUESTION: NASA believes that this next solar maximum will be less than the last. Do you agree with that, or should I ask Socrates to agree with that? My second question is the coming asteroid. They say it will hit the earth in 2032. Is that part of Socrates’ forecast?
Fred
ANSWER: Well, as for the asteroid hitting the Earth in 2032, they are playing it down really hard, like it has less than 3%. However, they are already looking at ways to try to destroy it because the odds are much higher than they are telling you. All I can say is that the 8.6-year cycle functions on a fractal basis, and it is extremely accurate. The precession of the equinox is nearly 25,800 years in duration, and that is 3 x 8.6. The fact that this is arriving in 2032 may simply be destiny and part of the universe’s timing.
Now, as to the next solar cycle, we show it should arrive here in 2025, but our computer disagrees with NASA, and it should be stronger than the last. This is the trend into 2032 for solar energy to intensify, meaning more significant flares and possible disruption to power grids, etc. This will be part of the trend into 2032 that will also impact the commodity markets.
Posted originally on Feb 26, 2025 by Martin Armstrong
Imagine handing a $2 billion grant to an organization that produced $100 in revenue. This is precisely what happened under Joe Biden’s watch when the EPA approved a $2 billion payout to yet another climate-related non-profit that acted as a political slush fund for the liberal elite. There is NO possible way to defend this blatant corruption.
Power Forward Communities is a non-profit climate activism organization linked to Biden chorine Stacey Abrahms. I will never refrain from repeating that the INFLATION REDUCTION ACT WAS A CLIMATE CHANGE SLUSH FUND. Joe Biden admitted the entire premise of America’s largest spending package was all designed under the guise of climate change. The people were completely deceived into believing the act would address inflation. The new administration is continuing to peel back the layers of where the funds from that $2.7 trillion package actually went.
Once more, the Inflation Reduction Act went beyond Biden and the US. Former Treasury Secretary Janet Yellen admitted the truth behind the Inflation Reduction Act as well: “The Inflation Reduction Act is, at its core, about turning the climate crisis into an economic opportunity,” Yellen clearly stated. It provided the government with an opportunity to eliminate our energy independence. We did not have an energy crisis before Joe Biden took office. His campaign was built around the globalist BUILD BACK BETTER agenda to sacrifice one’s nation to usher in the Great Reset. The World Economic Forum put it in writing that knocking down America was part of the plan, and people still voted for Biden. Then everyone acted surprised when he plummeted our nation’s economy as if that wasn’t his platform from the beginning.
Over $360 billion from the Inflation Reduction Act was set aside specifically for climate change initiatives. Where are those funds now? So far, it seems the money spent was funneled through various agencies linked directly to the Democrats. Grants were not awarded based on merit but recklessly handed out to whoever had their hand out. The majority of these so-called non-profits have done very little with the money they were awarded, as transparency was intentionally avoided.
The Environmental Protection Agency’s Greenhouse Gas Reduction Fund, created through the Inflation Reduction Act, deemed it necessary to pay Power Forward $2 billion. Now, EPA Administrator Lee Zeldin revealed that his agency awarded eight different climate agencies a total of $20 billion under Biden. Project Veritas filmed a former EPA employee explaining how they were directed to spend as much as possible before Trump took office, comparing their actions to throwing gold bars off the Titanic.
Stacey Abrams serves as senior counsel at Rewiring America, one of the founding groups of Power Forward Communities. This woman has a track record of financial mismanagement. Abrahms was $200,000 in debt back in 2018 before her net worth grew to $3.17 million by 2022. Abrahms admitted that she accumulated hundreds of thousands in debt due to student loans, credit card debt, and back taxes because rules for thee but not me. Still, they insisted she could manage the budget of the state of Georgia during her failed bid for governor. Her refusal to concede made her an activist figure for the left, and she profited off her political celebrity status. But did she EARN her millions?
Power Forward has done nothing thus far but suddenly wants to spend $539 million in the coming weeks on energy-efficient housing. Zeldin would like that money back. The taxpayers should demand that the money be returned. Imagine if Donald Trump awarded $2 billion to an organization that earned less than a child’s lemonade stand and had connections to a conservative ally? The absolute corruption of the past administration is unbelievable as they robbed the public blind for climate, migrants, war, and personal gain.
Posted originally on Feb 19, 2025 by Martin Armstrong
Justin Trudeau continually touts that Canada is on track to achieve net zero emissions by 2050. Of course, all of the politicians claiming that they can meet this target will not be in politics long enough to execute the plan. In fact, numerous studies have found that it will be impossible to meet net zero by 2050, no matter how much governments spend on climate change.
The Fraser Institute found that Canadian workers will be paying C$8,000 annually by 2050 to meet these impossible targets. The institute believes that as a result of the climate agenda, real GDP will decline by 7%, and income will decline by 6% per worker, resulting in 250,000 fewer jobs. Simulating the Emission Reduction Plan (ERP) into 2050 would, at best, lead to a 70% reduction in CO2 emissions.
The study then began looking at the carbon tax. Forcing companies to pay C$400 per tonne could decrease emissions by 68%, but tripling that figure to C$1,200 would only result in an additional 6% decline. These measures could cause GDP to fall a massive 18%, with incomes declining by 17%.
Kenneth Green in “Rapid Decarbonization of Electricity and Future Supply Constraints” noted that Canada simply does not have the infrastructure to support these lower carbon goals. “Canada would need to rapidly build infrastructure on a scale never before seen in the country’s history,” Green stated. He estimates that the nation would need an additional 684 TWh of electricity by 2050 to meet demand. Green believes Canada would need around 16 new nuclear power plant facilities, which he estimates would take 112 years to complete.
Wind power is not a reliable alternative. Canada would need to build 575 new wind-power installations, which would take an estimated 1,150 years to complete and 1 million hectares of land. Solar is not an option. Canada would need 840 solar generating stations and 1,680 years to complete by 2050. Green did not factor in the regulations and legalities in approving such projects.
Some have deemed the Paris Accord and other nations heightened pledges “emissions impossible.” There is no feasible way for nations to simply eliminate carbon emissions. Yet, that will not prevent governments from extorting the people for a scheme that is doomed to fail.
Posted originally on Feb 17, 2025 by Martin Armstrong
Environmental Protection Agency (EPA) Administrator Lee Zeldin found $20 BILLION in public funds that his predecessors from the Biden era of perpetual spending purposely wasted. Project Veritas first discovered the deliberate wasteful spending of the EPA through investigative journalism. A former EPA staffer called the agency’s spending under Biden akin to throwing gold bars off the Titanic. Zeldin is demanding that recipients return the “gold bars.”
“The “gold bars” were tax dollars, and “tossing them off the Titanic” meant the Biden administration knew they were wasting it,” Zeldin shared on X after posting the “extremely disturbing” Project Veritas video. “[T]his scheme was the first of its kind in EPA history, and it was purposefully designed to obligate all the money in a rush job with reduced oversight.”
It is far easier to retain funds than it is to retrieve them. Zeldin recently saved the government $50 million on a grant to the Climate Justice Alliance, a group that believes “climate justice travels through a Free Palestine.” Why did a government agency provide this alliance with $50 million? A portion of the grant was intended for a CONCERT to promote awareness for climate change in Palestine. The group claimed the Trump administration is simply spreading “misinformation” that “aims to scapegoat non-white and non-rich people.”
Even the weather is racist and sexist, according to the far left. Everything can be chalked up to climate change. Hillary Clinton said that the weather was hurting women in Ukraine, so it is on course for a leftist agency to say they need funds to fight climate change in Palestine. It is absolute lunacy, but a portion of the population nods in agreement and believes that privileged Americans should pay to somehow fix the nonexistent situation.
Let’s take a closer look at this organization that claims a just transition cannot happen through charity alone. As noted on the group’s website: “We must organize to move money out of the old economy using both public and private vehicles. We must weaken the power of the speculative markets, extreme energy, worker exploitation, extraction and militarism while strengthening economic and political democracy, placing power in the hands of the people.” Do you see a conflict of government interest here?
The EPA is one of countless agencies that have been weaponized by the left. For years, the people have paid into these ANTI-AMERICAN agencies that were openly working against the democracy of America in favor of globalist pursuits. The show is over.
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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
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