I will do mainstream media interviews outside the USA. I have just done yesterday a TV appearance on BNN Bloomberg in Canada. These are typically very short interviews so it is hard to get a lot into two 7 minute segments. Nevertheless, I gave it my best sho
Australia has been perhaps the most aggressive tax authority in the world. They are certainly competing to be #1. Besides stalking children to see where they go to school, and then demanded the school reveal how the parents pay the tuition, now they are going after insurance companies demanding to know what assets people are insuring.
The Australian Taxation Office’s new scheme is hunting money and assets to seize and tax. They are demanding the last five years’ worth of insurance policy information from more than 30 insurance companies. They are searching for “lifestyle assets” of the rich who they clearly hate with a passion. They are demanding details on clients who own yachts, any boats, fine art, thoroughbred horses, high-value cars and aircraft. They have targeted around 350,000 taxpayers.
This is the world we live in — “1984” has just been late to arrive. It makes you really understand the entire principle behind Atlas Shrugged.
QUESTION: Is there any comparison to be made between the current suppression of interest rates by the Fed and its suppression of interest rates in the 1920s? With sovereign defaults on the horizon, it seems that history could be repeating itself.
RK
ANSWER: The Fed’s attempt to lower rates in 1927 to help Europe backfired. It sent capital rushing out of Europe and into the US share market as well as real estate. The Fed had to then abandon its international policy and focus on domestic policy objectives. That will most likely take place again. Despite this crisis becoming a global contagion, each country will defend itself and adopt its own measures independently. That is where the risk will truly lie because politicians are used to running on promises of power. They are not ready to surrender domestic policy objectives for international ones. I suspect we will need such a crisis before we can understand we are all connected
This is terrible. For unknown reasons a car crossed the median on a highway in Kentucky and drove directly into a bus carrying students from Covington High School. The driver of the car was killed, some of the bus passengers were injured including the bus driver.
The students were returning home after the March for Life rally in Washington DC.
CALIFORNIA, Ky. — One person is dead and several are injured following a head-on crash involving a charter bus carrying Covington Catholic students, Campbell County police said.
The crash happened around 7:20 a.m. Saturday in the northbound lanes of the AA Highway at California Crossroads in Campbell County.
According to witnesses on the scene, a southbound car somehow entered the northbound lanes of the highway, striking the charter bus head-on.
“I saw a car come across the median and head toward me,” said Ricky Lynn, a witness who was also driving north. “I was able to get out of the way.”
The driver of the wrong-way car was pronounced dead at the scene. That driver’s name has not been released.
Two people on the bus were taken to area hospitals for treatment, and others suffered minor injuries. The motor coach driver suffered a minor knee injury, the bus company said.
The bus was full of Covington Catholic High School students and several parent chaperones, who were returning from the March for Life rally in Washington. The bus was one of four in a caravan, carrying a total of about 200 passengers. (read more)
COMMENT #1: HILARIOUS!! A simple FOOL wanting to shoot the messenger.
“A closed mind gathers NO facts.”
Old Texas bumper sticker. “To hell with them, let them freeze to death in the dark.”
UD
COMMENT #2: Hi Mr. Armstrong….yes I agree, you are dangerous, but the real issue is “dangerous to whom ?” Certainly not to citizens who search for truth in their government.
HS
COMMENT #3: Hey Marty,
Not to worry you have many who value your counsel and experiences as a trader, history buff, visionary, lawyer and computer programmer. As a recovering social parasite that still works for the Federal government, it not easy sometimes to recognize the errors of your past thoughts and actions. I hope that you can continue to tip at the windmills of our linear thinking patterns with your work. Please don’t let your critics and enemies get under your skin too much. We always look forward to your next post.
Grace and peace to you,
JD
REPLY: No worries. I find these people just a joke myself. I refrain from publishing them because sometimes they are just so off the wall it is hilarious. They claim I make up the questions because I publish ones that are at least valid. So once in a while I will post some of these crazy ones just to show how nuts they can be.
I was in Philadelphia during the Occupy Wall Street Movement when they camped out by city hall. I was in the building across the street and came out wearing a suit and tie. One yelled at me calling me a “Corporate Liberal” and I just had to stop and ask just what the hell was a Corporate Liberal? He was stringing together two opposing concepts of evil big corporations and conservatives who called opponents liberal. I just had to laugh. Some of these are just beyond even trying to figure out what they are so angry about. Just life I suppose.
I really think we need to split the country and all the left should move left to California and the right should move to the right. Where you draw the line down the middle would be interesting. I am more Libertarian, so perhaps I should just leave. Maybe we should colonize Mars and just start all over.
The case against Julian Assange is all about exposing the truth that goes on behind the curtain. There has NEVER been any allegation that the information he has released was false. Even the emails from the Democrats that they blame on hacking by Russians have NEVER been denied as fake. All of the information that has been released is REAL.
So where is the crime? The crime is that the people have no right to know what the government is doing illegally. It is why Snowden is in Russia. These people are threats to the government — not the people. The Democrats protect a whistleblower when the leaked info supports a faction in the government. The government is NOT the sovereign of the nation, and that is clearly stated in the Constitution — We the People.
This begs the question: who is the real traitor
COMMENT: I attended your 2016 WEC and I thought you would be wrong that interest rates would rise and the whole big bang thing. Rates have risen only in the US, the pension crisis is clearly unfolding, and states have been going bust. Now there is the Repo Crisis and I did buy the report. I will return to the WEC this year. I realize that you are able to forecast long-term trends that nobody else can even see. Here in Australia, my God, it seems like the government has become occupied by Nazis who were also hunting money.
Good on ya!
PD
REPLY: Yes, most people have no idea that Hitler had passed similar laws that made it illegal to have a bank account outside the country. That prompted Switzerland to adopt its secrecy laws. Western governments are doing exactly as Hitler did. Oh yes, he killed a lot of Jews and others. But make no mistake about it, that was not just hatred. It was profitable. Hitler confiscated all their assets and then harvested even the gold in their teeth.
Just scan history and you will see a pattern. Henry VIII created the Church of England but confiscated all the assets of the Catholic Church. Constantine the Great adopted Christianity as the major religion and then confiscated the assets of the pagan temples. The only leader who confiscated assets of the Church without pretending he was adopting another religion was Napoleon. The Spanish Inquisition persecuted people, including the Jews and Arabs. However, that was also profitable for they confiscated their assets.
The rule of law in England at the time of the American Revolution had 240 felonies. The penalty was death so there too the king confiscated all your assets and threw your family out on the street. Just follow the money. Now they call it criminal to hide money from the government. It is money laundering to put cash in a safe deposit box — read the fine print — it can be confiscated! The criminal law is far too often used for the financial gain of the state.
As everyone knows, I turned out to be an institutional adviser. Consequently, the model that I developed had to be able to forecast the trend of all time levels. It was critical to be able to provide a reliable forecast out for 10 years when truly planning strategy for multinational corporations. That is why we had over $2.5 trillion under contract when the US national debt was just $6 trillion. We were by far the largest international adviser in the world.
The disparity in the rates between the USA and those in Japan and Europe are all part of the crisis in both liquidity as well as international banking. The vast majority of derivatives out there are interest rate related. Europe has a major, major, major problem. An uptick in interest rates will be devastating in so many ways. It will not only cause major losses for the ECB portfolio of bonds with over $12 trillion in negative-yielding bonds, but then you have the derivatives market.
On top of that, to make derivatives safer, after 2007 the government insisted that all derivatives had to go through a central counterparty clearing house (CCP) agent. As you can see, the 2018 annual report showed that Deutsche Bank also acts as a CCP to which it guarantees another €21.6 trillion Euros of exposure.
This experiment with negative interest rates has created a nightmare from which we are desperately afraid to wake up because it could be very real.
Shanghai
This year we are holding three World Economic Conference events — Shanghai in May, Frankfurt in June, and then Orlando in November. Each will be focused on the local region within the scope of the global context. Many people have indicated they want to go to Shanghai and kick the tires personally. You can apply for a visa and then visit Beijing and the Great Wall as well as the Forbidden City. They are spectacular things to see while you can.
You do not need a visa to visit Shanghai if you have an ongoing ticket to another city, not just a return. So fly to Shanghai, then to Hong Kong, and home. I believe you are allowed to stay for up to 7 days on that basis. Make sure you check yourself because things change. So if you want to see Beijing, just apply for a visa. It’s not a big deal.
The Frankfurt WEC will focus on the crisis in Europe. The Orlando WEC will be naturally focused on the world economy and we will have the results of the 2020 election in the USA by that time.
There will be special tickets for those attending all three events or just two.
COMMENT: Marty, your writings are always ahead of the curve and your sources are amazing. Just read today Hillary gave an interview and she is obviously trying to stay in the mix. She came out and said about Bernie Sanders: ”He was in Congress for years. He had one senator support him. Nobody likes him, nobody wants to work with him, he got nothing done. He was a career politician. It’s all just baloney and I feel so bad that people got sucked into it.”
HB
REPLY: She wants to be the first woman president and that has always been her goal. It was the reason she married Bill. All my sources have always made it very clear she has been the driving force behind Bill. She has tolerated his countless women because she is really a lesbian and it has been all about power. Some younger women hate her. They call her a “feminine nazi” who has hated men. It was Madeline Albright who had the audacity to say there was a “special place in hell” for women who don’t support Clinton. She expects women to vote for her just because she is a woman regardless of her political positions.
I have known women politicians like Maggie Thatcher. NEVER was there any emphasis that she was qualified because she was a woman. It was always about the issues – NEVER about gender. Hillary has NEVER gotten beyond the ’60s. She relives it every day in her world. It is well known that Bill Clinton lives in New York and Hilliary Clinton lives in DC where they collectively own separate residences. Now they only appear together in official capacities because the Clinton’s have a political partnership, not a marriage. Gennifer Flowers revealed in an interview that would ONLY be published in London, that she and Bill would have been together now if it wasn’t for Chelsea. She reported that Bill confided in her that Hillary was bisexual.
When they first got in the White House, a friend of mine who was the former chairman of the Republicans for Ronald Regan in a state, called me to tell me that a Secret Service agent had walked in on the second floor in the White House and caught Hillary in bed with another woman. She picked up an ashtray and threw it at him hitting him in the head. It was just a few weeks in the White House. I did not believe it and asked if this was what I was going to have to listen to for the next 4 years? He said this came directly from the Secret Service. I still did not believe it. Then I read a small piece on the incident. Hillary’s conduct with other women in the White House was indeed coming from the Secret Service and the rumor mill was overflowing so much that the Secret Service was warned to keep their mouths shut.
The interesting aspect is that these stories would make the print, but typically OUTSIDE the USA – not within.
Certain media outlets are giving fawning coverage to “Equal Pay Day,” a “public awareness event” invented by the National Committee on Pay Equity to “illustrate the gap between men’s and women’s wages.” This group claims that women earn much less than men because of “discrimination.”
Parroting that storyline, NBC News published an article entitled “What Is Equal Pay Day? Here’s Everything You Need to Know.” Penned by Shira Tarlo, this article states that:
Likewise, Brett Molina of USA Today reports: “On average, women are paid about 80% of what men are paid. To reach pay parity, women will have to wait until 2119, according to AAUW [American Association of University Women]. If you are a woman of color, that gap is even wider.”
Many other journalists, activists, celebrities, and politicians are making similar claims, but the facts are clear that women in the United States earn the same compensation as men for doing the same work. On average, full-time, year-round female workers earn about 20% less cash wages than males, but when four factors relating to equal work and pay are taken in account, all or nearly all of this gap disappears. These four factors are:
Various studies that have attempted to account for some—but not all—of these factors have found:
Per a 2009 analysis of gender wage studies conducted for the U.S. Department of Labor by CONSAD Research Corporation:
It is not possible to produce a reliable quantitative estimate of the aggregate portion of the raw gender wage gap for which the explanatory factors that have been identified account. Nevertheless, it can confidently be concluded that, collectively, those factors account for a major portion and, possibly, almost all of the raw gender wage gap.
Deceiving the Public
The National Committee on Pay Equity asserts that a 2003 study by U.S. General Accounting Office “found a 20 percent earnings gap between women and men that could not be explained, even when accounting for demographic and work-related factors such as occupation, industry, race, marital status and job tenure. This gap is attributable to discrimination; certain jobs pay less simply because they are held by women and people of color.” To the contrary, this study explicitly states:
Due to inherent limitations in the survey data and in statistical analysis, we cannot determine whether this remaining [wage] difference is due to discrimination or other factors that may affect earnings. For example, some experts said that some women trade off career advancement or higher earnings for a job that offers flexibility to manage work and family responsibilities.
The study goes on to detail that it does not account for:
The National Committee on Pay Equity does not even link to this study, which is unsurprising given how it distorts it. Yet, instead of exposing this deception, many media outlets are serving as mouthpieces to amplify it.
Stirring Up Racial Strife
The same reporters and media outlets are also echoing the rhetoric of the National Committee on Pay Equity about wages and race. For example, NBC News claims: “While women across all races and ethnicities lag behind those of white men, as well as men in their own racial or ethnic group, minority women face greater challenges in this regard. Data from a 2016 study illustrates that while white, non-Hispanic women make 83 cents for every dollar, Black women make 66 cents, and Hispanic women make 60 cents.”
Just as with gender, the facts are clear that people of all races in the United States earn the same compensation for doing the same work. Racial wage gaps can be traced to differences in work output due to factors like education, marriage, career choices, English fluency, and skills in reading, writing and math.
People who falsely claim that discrimination is the cause of wage differences can stir up racial strife by fueling resentment and bitterness. Gallup polls conducted from 2001 to 2016 found that both blacks and whites felt that racial harmony reached an all-time modern low in 2015 and 2016.
Holding People Down
Another effect of false discrimination allegations is that they cultivate a victim mentality that prevents people from reaching their potential. A 2015 paper in the Proceedings of the National Academy of Sciences investigated people’s views about freewill, or “the belief that they are responsible for their actions.” The study found that:
In sum, the facts show that much rhetoric surrounding Equal Pay Day slanders employers who have done no wrong, stokes gender and racial hostility, and hinders people from being successful.
There is a new separatist movement forming in Virginia over the proposed gun laws. This new separatist movement taking place is in a state that already separated into two back in 1863 which some question whether it was lawfully carried out back then.
US Constitution: Article IV: Section 3
New States may be admitted by the Congress into this Union; but no new State shall be formed or erected within the Jurisdiction of any other State; nor any State be formed by the Junction of two or more States, or Parts of States, without the Consent of the Legislatures of the States concerned as well as of the Congress.
The interesting question was that since Virginia moved and joined the Confederate States, was their consent still required if they did not regard themselves to still be a state of the union? Hence, West Virginia was formed during the American Civil War (1861–1865) and is actually the only state to form by seceding from a Confederate state. The western part of the state of Virginia (1776–1863), was deeply against the views of the rest of Virginia over slavery. The population of West Virginia moved to separate from Virginia and was formalized by admittance to the Union as a new state in 1863.
Today, we have yet another rising separatist movement within Virginia as a result of House Resolution 8 which was introduced on January 14, 2020. This provides for an election to be had, pending approval of the General Assembly of the Commonwealth of Virginia, and a majority of qualified citizens voting upon the proposition prior to August 1, 2020, for the admission of certain counties and independent cities of the Commonwealth of Virginia to be admitted to the State of West Virginia as constituent counties, under the provisions of Article VI, Section 11 of the Constitution of West Virginia. The Legislature of West Virginia separated over the differences which had grown between the counties of Western Virginia and the government at Richmond, of the Commonwealth of Virginia. They concluded that they were irretrievably divided and therefore they formed a new State of West Virginia.
The Trans-Allegheny portions of Virginia perceived that they suffered under an inequitable measure of taxation by which they bore a disproportionate share of the tax burden in the state which is often a common complaint under socialism. They have argued that the Trans-Allegheny region has been denied its equitable share of representation in the government prejudiced by a large number of people demanding benefits from Richmond.
The realization that when the majority demands benefits from those who produce, much like Rand’s Atlas Shrugged, then the majority can impose tyranny upon the minority and thus government no longer becomes the unbiased arbitrator within society. The neglect for the interests of many of the remaining counties of the Commonwealth of Virginia is at the heart of this rising separatist movement.
More recently, the government at Richmond has adopted the restraint upon the rights guaranteed under the Second Amendment of the United States Constitution to the citizens of that Commonwealth. In the months since Democrats took control of Virginia’s government for the first time in over two decades, over 100 localities across Virginia have passed resolutions declaring themselves “Second Amendment Sanctuaries,” stating that they’re opposed to any bills which would restrict Second Amendment rights.
There is rising tension in Virginia ever since the Democrats took control of the State
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