8.4.24: LT w/ Dr. Elliott: Buffett dumps, Tech Stocks danger? Silver/Gold drop=perfect time to invest, Pray!


Posted originally on Rumble By And We Know on: Aug 4, 2024 at 7:00 pm EST

Ep. 3427a – D’s Panic About The Economy, Try To Change Narrative, Gold Will Destroy The Fed


Posted originally on Rumble By X 22 Report on: Aug 14, 2024 at 8:15 pm EST

The 17th Amendment


Posted originally on the CTH on August 9, 2024 | Sundance

Machiavelli said“It must be remembered that there is nothing more difficult to plan, more doubtful of success, nor more dangerous to manage than a new system. For the initiator has the enmity of all who would profit by the preservation of the old institution and merely lukewarm defenders in those who gain by the new ones.”  A prescient and oft repeated quote that is pertinent to the situation.

When our founders created the system of government for our constitutional republic, they built in layers of protection from federal control over the lives of people in the states.  Over time those protections have been eroded as the federal bureaucracy has seized power.  One of the biggest changes that led to the creation of the permanent political class was the 17th amendment.

Our founders created a system where Senators were appointed by the state legislatures.  In this original system the senate was bound by obligation to look out for the best interests of their specific states.  Under the ‘advise and consent‘ rules of Senate confirmation for executive branch appointments, the intent was to ensure the presidential appointee -who would now carry out regulatory activity- would not undermine the independent position of the states.

The nucleus of corruption amid every element of the federal institutions of government is the United States Senate.   The U.S. Senate, also known as the “upper chamber,” is the single most powerful elected element in modern federal government.

The Intelligence Branch is the most powerful branch of government.  However, the U.S. Senate is the most powerful assembly of federally elected officials.  We pretend the IC branch doesn’t exist; that’s part of our problem.  At least we admit the Senate exists.

All other elected federal corruption is dependent on a corrupt and ineffective Senate.  If we correct the problems with the Senate and reconnect the representation within the chamber to the state-level legislative bodies, we will then see immediate change.  However, there would be ZERO institutional allies in this effort.

When the 17th amendment (direct voting for Senators) took the place of state appointments, the perspective of ‘advise and consent’ changed.  The senate was now in the position of ensuring the presidential appointee did not undermine the power of the permanent bureaucracy, which is the root of power for the upper-chamber.

Senate committees, Homeland Security, Judiciary, Intelligence, Armed Services, Foreign Relations, etc. now consists of members who carry an imbalanced level of power within government.  The senate now controls who will be in charge of executive branch agencies like the DOJ, DHS, FBI, CIA, ODNI, DoD, State Dept and NSA, from the position of their own power and control in Washington DC.

In essence, the 17th amendment flipped the intent of the constitution from protecting the individual states to protecting the federal government.

Almost every source of federal issue: ex. spending, intervention and foreign assistance, conflict with the states, burdensome regulation, surveillance and spying on American citizens, the two-tiered justice system and the erosion of liberty & individual rights (see COVID examples), can be sourced back to the problem created by the 17th amendment.

Because of the scale of their power, the Senate will not give up control easily; and every institution of society and government will actively work to block/stop We The People from taking back control of the upper chamber.  Every entity from Wall Street to multinational corporations, big tech, banks, foreign governments and world organizations would align against us.   When you truly understand the epicenter of the corruption, then you are able to see the tentacles extending from it.

It would be easy to say “repeal the 17th amendment;“ it is ‘another kettle of fish’ entirely to walk through the process to make that happen.  Yes, ultimately, we do need a full repeal of the 17th amendment and return the selection of the senators from each state with a nomination and appointment process within the state legislature.  [Common Explainer Here]

Seventeenth Amendment- “The Senate of the United States shall be composed of two Senators from each State, elected by the people thereof, for six years; and each Senator shall have one vote. The electors in each State shall have the qualifications requisite for electors of the most numerous branch of the State legislatures.

When vacancies happen in the representation of any State in the Senate, the executive authority of such State shall issue writs of election to fill such vacancies: Provided, That the legislature of any State may empower the executive thereof to make temporary appointments until the people fill the vacancies by election as the legislature may direct.” (link)

Prior to the 17th amendment, there was significant state level corruption as business interests and senate candidates worked in power groups with party officials to attain the position.  Politicians seeking Senate seats began campaigning for state legislative candidates in order to assemble support.

The state legislative races then became a process of influence amid powerful interests seeking to support their Senate candidate.   Get the right people in the State legislature and you can get the Senator appointed.

Those state-level entities, bankers, wealthy people of influence, later became the permanent K-Street lobbying groups once the 17th amendment was ratified. In essence, they just shifted the location of their influence operation from the state to an office in Washington DC.   [Those same power groups, albeit much larger, now write the physical legislation we see in congress.]  Additionally, prior to the 17th amendment, there were issues of vacancies in federal senate seats as state legislatures could not agree on an individual Senator.

The biggest issue following the passage of the 17th amendment became Senators who were no longer representing the interests of their state.  Instead, they were representing the interests of the power elite groups who were helping them fund the mechanisms of their re-election efforts.

A Senator only needs to run for re-election every six years.  The 17th amendment is the only amendment that changed the structure of the congress as it was written by the founders.

Over time, the Senate chamber itself began using their advice and consent authority to control the executive and judicial branch.  The origination of a nomination now holds the question: “Can this person pass the Senate confirmation process?”  The Senate now abuses this power to ensure no one challenges them.  Additionally, the Senate began using their oversight capacity to control elements within the executive branch and judicial branch.   The full scope of that issue in modern form is OUTLINED HERE – which is the cornerstone of the Intelligence Branch of Government.

If we can repeal the 17th amendment and return the selection to the state legislature, you can see where the background work of Tactical Civics and Extreme Federalism begin to take on importance.   [NOTE: Within the repeal effort we would need to include a recall process for states to reach out and yank back their Senator if they go astray; the ability to recall was missing in the original construct of the framers; it would need to be added.]

◊ PATH ONE is the primary platform of the presidential candidate…. a visible and emphasized mandate that includes: “vote me into office and you are voting to repeal the 17th amendment “.  This specific election issue would need to be the #1 priority of the candidate and spoken at every event.

This approach gives presidential candidate Donald Trump the mandate to demand congress to act if he won the 2024 election.  We need a warrior of epic strength, resolve and fortitude. We need Donald Trump.

◊ PATH TWO is the parallel path built along with the 2024 election platform path and put into place in the event that Congress refused to accept the mandate.

Obviously, this would be an ugly battle.   The second path is a convention of states in the first year of President Trump’s second term in office.

The ‘convention of states‘ would be detailed, strategically planned, and the future schedule determined during the 2024 GOP convention preceding the November election (assuming the right candidate wins).   That way, if congress refuses to act on their own, within say the first 100 days of the new administration, the state legislatures will then assemble a convention for the singular and limited purpose of one action item: “repeal the 17th amendment “.  That’s it. Full Stop.  Nothing more. Nothing else entertained.

There is a lot more to this, and a lot more to cover in discussion of this.  However, this is the path that can resolve most of the issues we face with an out-of-control federal government.   The shift in power would kneecap the Intelligence Branch of Government by re-instituting genuine oversight and control. A repeal of the 17th amendment stops Senators from campaigning, needing to raise money and puts them directly into the accountability position as a steward for the interests of their state.

The people within each state would then have a mechanism to address any negative federal action by contacting their state legislative representative.  In a worst-case scenario, a rogue Senator could be removed within days if they support any federal legislative activity that is not in alignment with the state interest.  This approach also wipes out most of the power amid the Senate Majority Leader, as he/she could also be recalled by the state and would be less likely to work against the interests of the majority in the chamber.

The House of Representatives was created to be the voice of the people, ie, “The Peoples’ House.”  However, the U.S. Senate was structurally created to be the place where state government had representation in the federal government decision-making.  The 17th amendment completely removed state representation, and we have been in an escalating battle over state’s rights ever since.

Overlay that DC structural issue with the fact that almost all of the bureaucracy created by this skewed DC system is now in place to defend itself from any outside effort to change it, and you get this UniParty problem that Donald Trump fully exposed.

Repeal the 17th amendment and we would see the most significant restoration of freedom, liberty and social balance in our lifetime.

Why Republics Will Fall


Posted originally on Aug 9, 2024 By Martin Armstrong 

  

Republics are the worst form of government, for every representative can be bribed. Those who are honest get very frustrated, for they will pass rules to prevent anyone from actually even making a motion on the floor. Motions will have to come from Committees. If you do not play nicely, the speaker decides who gets on what Committees. Look at the smirks of the woman behind him, knowing nothing will change.

Here, Mike Bost is frustrated at the corruption in the Illinois House of Representatives. We do not live in a Democracy. The “establishment” is dictated by the Deep State, and far too often, the actual direction of the country is determined by people who are behind the shadows and never stand for election. The head of the European Parliament never stands for election. The head of the EU appoints them. The people have no say in anything meaningful.

Emergency Rate Cuts Never Work


Posted Aug 7, 2024 By Martin Armstrong 

Fed Emergency Rate Cut March 4 2020

COMMENT: Marty, it is always obvious why you were named Economist of the Decade, Hedge Fund Manager of the Year, and FX Analyst of the Year for the Swiss Peg break. As you said on the private blog;

“Let’s see but it appears that we could have a bear trap forming with a plunge into Monday but then a bounce. Monday would be a 3-day reaction plunge. There remains the risk of a bounce and then a more serious pattern forming in September.”

Your skills are renowned, but your motive is to help society. People need to know that governments and central bankers go to you because you do not charge them and have no conflicts of interest. You could keep Socrates, trade only for yourself, and make a fortune. But you care. While others claim the Fed should pull an emergency 0.25% base cut, only you point out that theory never works.

Many are concerned that you have no one to pass Socrates on, and you have toyed with the idea of going public for its survival. There are those among us who share your view and would help.

Please comment on that for society.

Paul

Emergency Rate Cut 3 4 2020

REPLY: Look, 99% of the analysis you hear on TV is nonsense. These are people who repeat the same stupid theories that everyone else does, and not a single one ever takes the time to investigate whether their statements are true or false. Be it FOX or CNN; they only allow analysts who speak the same fake analysis. They would never dare to put me on TV because I would contradict what they say and all their guests.

This is typical of what the Daily Mail just published: “Economist issues dire warning about the US economy.”

He places the blame on the Fed for keeping its main interest rate at a two-decade high since 2022 in its zeal to stifle inflation.

Those hikes are now hitting the economy hard, he said, suggesting the Fed should have lowered rates earlier.

‘I really do worry that we may lose US economic exceptionalism because of a policy mistake,’ he told Bloomberg TV, as worldwide markets continued to plummet.

Here is the last Emergency Rate Cut, which was on March 4th, 2020, in the middle of that plunge. Three days later, the market made new lows and continued to fall. NOBODY ever seems to review past actions and simply ask, did that work?

YES, I can walk into any central bank. They all know (1) I refuse ever to accept any money from any government because there will ALWAYS be strings attached. (2) I am NOT allowed to invest in any shares, for I cannot have a CONFLICT OF INTEREST when I must comply with the laws of every country because we are GLOBAL – not domestic. Normally, when the government falsely charges you, they will charge you with something else like insider trading or tax fraud. I could not have any such personal account, and instead of saying I ran a clean shop, they said, “You are one smart MF” because they could not find anything despite advising on numerous takeovers. Even after the HSBC takeover of Republic National Bank, the former head of HSBC came to my London office to ask my opinion on buying that bank.

It is impossible to deal with all the different laws internationally. In some jurisdictions, if you asked me about IBM and I had just one share, I would be required by law to reveal everything I own to the client. You cannot be an international adviser with anything that can be seen as a CONFLICT OF INTEREST.

Morgan Christendom

They came to me in 1985 when they were creating G5 and the Euro. I was the first Western Analyst to be called into the Bank of China. I have had a front-row seat to the world. I have made more than I could spend. Money does not define a person; it defines character. Contracts are WORTHLESS, for if the person on the other is not trustworthy, the contract means nothing. I grew up when your word was your bond. Before recorded phone lines, you had to honor your word, or nobody would deal with you.

It is always difficult to choose a successor. I must also consider their character. I would never take in someone from the NY bankers or Bill Gates. Money is not the issue. I like the character of Elon Musk, but this is a very difficult proposition. I have traded billions and advised on trillions. Then you finish for the day and go out to dinner, and it costs you $300. Billions are just phone numbers, as we used to say. That kind of money is only suitable for bribing others to do what you want – i.e.Gates and Soros. It cannot be spent on living expenses. It is monopoly money. It’s not “real” at that point. Accomplishment makes a man – not money.

Americans Prepared for Lasting Inflation


Posted originally on Aug 6, 2024 By Martin Armstrong 

InflationPredictedMagazine

Americans are preparing for a prolonged inflationary period, based on new data from the New York Fed. The New York Federal Reserve’s Survey of Consumer Expectations found that Americans are still pessimistic about inflation waning, with no one now believing it is transitory. The median expectation is that inflation will remain at the 3% level in 2025.

The public does not anticipate inflation tapering off in a meaningful way in the years to come. The Federal Reserve is still honing in on that 2% target but the people have lost confidence in its ability to do so. Most Americans see inflation sitting at 2.9% in three years from now, up from the 2.4% estimate in January 2024. Even in five year’s time, the average consumer believes inflation will be above target at 2.6%.

The central bank believes they can meet that 2% target. Policymakers believe inflation will fall to 2.1% by 2025 before finally reaching 2% in 2026. Amid the sell off this week, Chicago Fed President Goolsbee came out and said that the central bank will simply “fix it” if the economy continues to deteriorate.

“The Fed’s job is very straightforward, maximize employment, stabilize prices and maintain financial stability. That’s what we’re going to do,” Goolsbee told CNBC. “We’re forward-looking about it. So if the conditions collectively start coming in like that on the through line, there’s deterioration on any of those parts, we’re going to fix it.”

Unfortunately, there is not much that the central bank can do to offset government’s suicidal fiscal policy. Remember, inflation was only 1.4% when Joe Biden took office – far beneath the Fed’s target. Inflation has risen as a direct result of fiscal policies under Bidenomics.

FederalReserve 1

The Fed was unable to prevent policies that ended America’s energy independence. They were unable to stop the supply chain issues exacerbated by the pandemic. They cannot alter the weak jobs reports that are propped up by multiplying the public sector, which only detracts from overall GDP. The Federal Reserve cannot maintain diplomatic relations with America’s trade partners or prevent the likes of Japan and China from selling off US government debt. The millions of immigrants now subsidized by the taxpayers cannot be curtailed by Jerome Powell or the FOMC. Worst of all, war is the most powerful driver of inflation. The Federal Reserve can do absolutely nothing to prevent America from steering NATO into three potential battles. Our Treasury Secretary says we can afford numerous wars. The $35 trillion in government debt rises every day and those in the central bank simply KNOW that the government has no intention on paying it off – how could they?

Americans are rightfully pessimistic about the future of the economy. All the talking heads insist that the economy is thriving under Bidenomics, but we the people are living in a different reality. This is what happens when people lose trust in the government entirely.

Yellen Under Fire for Encouraging Debanking Practices


Posted Aug 5, 2024 By Martin Armstrong 

Debanking

US Treasury Secretary and establishment puppet Janet Yellen has denied the advice of her own advisors to encourage debanking practices. Twenty Republican Attorney Generals have reached out to Yellen to remind her that she is not permitted to impede with state laws to weaponize her department against the Democrat’s political opponents.

Florida Attorney General Ashley Moody declared US Treasury has “forsaken its statutory role and instead chosen to intervene on behalf of activists seeking to hijack the financial system for their political ends.”

This has been happening across the world, and instances of debanking for political purposes have reached new heights in 2024. In April, 15 AGs attempted to reach out to Bank of America over a “troubling financial pattern” of debanking Christian organizations. “Bank of America has a track record of de-banking religious organizations,” the letter states, followed by examples of banks suddenly freezing funds of Christians and churches without warning. Why? National security, of course.

Banks were instructed by government to search transactions for keywords such as “Trump” and “MAGA” to look for “domestic terrorists.” They asked banks to look for people who had purchased certain books such as religious texts. Purchased a gun? You’re a potential terrorist and threat to the government.

“The Treasury Department has once again forsaken its statutory role and instead chosen to intervene on behalf of activists seeking to hijack the financial system for their political ends. It is even more disappointing that the Treasury Department would use “national security” as cover for large banks’ abuse of power to achieve those ends,” the most recent letter claims.

All of our freedoms are revoked under the premise of “national security.” This would be akin to permitting the government to rob your house to protect you from intruders. There are state laws in place to protect the people but the federal government believes they can deny these protections in the name of national security. Florida’s HB 989, for example, is intended to protect consumers from discrimination. That law aims to protect gun manufacturers, the fossil fuel sector, religious organizations, and others who do not adhere with the BUILD BACK BETTER agenda from being denied the right to operate in America’s financial system. “No consumer or business should be denied services based on political beliefs or religious views or because of some arbitrary social credit score derived from ideological agendas,” the AGs added in their latest letter.

Again, this is a worldwide phenomenon of governments weaponizing banking institutions. The UN-backed Net-Zero Banking Alliance aims to jeopardize anyone not adhering to the climate change agenda financially. Over 144 banks have signed on board. I reported last year that a bullion dealer I personally know suddenly had his credit lines revoked. Governments genuinely believe the people are underpaying taxes by at least 35%. They want to eliminate all financial hedges against government and financially cripple those who do not abide by the agenda.

Yet another reason why all governments must go digital. CBDCs will permit governments not only to track every sale and purchase, but it will give them the POWER to prevent purchases instantaneously.

The Greatest Crash of the Century?


Posted originally on Aug 3, 2024 By Martin Armstrong 

2024 Crash_of_the_Century

For all the emails coming in: I am finishing up this report this weekend

The Real Risk Ahead

Posobiec: Ellen Greenberg A Skeleton In The Closet Of Harris Favorite VP Pick Josh Shapiro


Posted originally on Rumble By Bannons War Room on: Aug 02, 2024 at 07:00 pm EST

Digital Ruble 2025


Posted originally on Aug 1, 2024 By Martin Armstrong |  

Russia has announced that it will implement a digital ruble by next July. Moscow will begin using cryptocurrency for some foreign transactions to bypass sanctions and SWIFT. As of November 2024, Russia will permit crypto mining, so long as it is carried out under the watchful eye of the government.

The Bank of Russia will oversee crypto mining and overriding capabilities. The Russian government, alongside the central bank, will select mining pool participants and protocols. Gone are the days when anyone could seemingly anonymously mine crypto, as Russia is one of many nations that will begin to require complete government oversight.

Beginning on September 1, Moscow will attempt to use crypto for foreign settlements while creating a new electronic platform through the National Payment System (NPS) within the EPR framework. The central bank is already stating that it must monitor activities to “identify risks” relating to national security and terrorism. This is precisely why other nations will also begin closely examining crypto transactions to ensure that the government has the upper hand.

As for the digital ruble, all operations will go through the Russian central bank. All of the CBDC will be stored through the central bank, which they ensure is for citizens’ safety. Each digital ruble will carry a unique code, similar to a banknote, and people may transfer rubles from one digital wallet to another – all under the watchful eye of government. The decree for the digital ruble was signed into law last August, but authorities believe the average person will begin using it by 2025.

Bank of Russia head, Elvira Nabiullina, claims the digital ruble will be optional. “If they want – they’ll use it, if they don’t – they won’t. No one is forcing anybody to use the digital ruble,” Nabiullina said. Yet, what happens when the seller or buyer is only accepting digital rubles? There is some vague language about digital rubles having codes for specific usage to deter crime. Governments want control and there is no better way to control the people than usurping the money supply and what can be considered “money.”

SWIFT Banking Systems

Removing Russia from SWIFT prompted these actions. “Over 30 regulators are currently working on national digital currencies,” Olga Skorobogatova, the first deputy chairwoman of the Bank of Russia, reported. “I think that this speed, with which the regulators have delved into this field, speaks volumes about the fact that, in 5-7 years, several countries surely will step forward with their own national digital currencies. Then, we can discuss the questions of direct integration. In that case, we no longer need SWIFT, since these are different technological interactions.”

The move to CBDC was an inevitable next step. The International Monetary Fund developed a coin long ago and other nations have been working alongside their central banks for years. It will be easy for Moscow to force its citizens and businesses to make the switch as they’ve already been removed from SWIFT and have had their foreign assets frozen for simply residing in the wrong nation. There is a reasonable fear that their money is not safe.

The year 2025, one year away, will bring about the rise of countless CBDC. The ultimate goal is to create one centralized currency. We saw that it epically failed in Europe as those nations are now under the control of the One World European government, the unelected officials in Brussels who silence their own member states from dissenting. Yet to begin, nations will begin pushing for the use of digital currency before outright canceling “hard money” under the premise that they are protecting their citizens. In all actuality, the elite believes all the money in circulation belongs to them, and the only way to guarantee maximum taxation is to transition the people to a controllable, non-tangible monetary system.