Tag Archives: Real wages drop

May 11 2023

Chairman James Comer Holds Press Conference Outlining Payments to Biden Family from Foreign Governments


Posted originally on the CTH on May 10, 2023 | Sundance

Led by Chairman James Comer, Republican members of the House Oversight Committee hold a press briefing on alleged new information they’ve discovered about the Biden family’s business deals.

The committee alleges Joe Biden and members of his family received payments from foreign nationals and businesses through a complex structure of limited liability corporations (LLC) in order to purchase assistance in the form of influence from the United States government for their financial interests.

In the press conference, the committee members outlined how Romanian and Chinese individuals paid shell corporations controlled by Biden associates. The Biden associate LLC’s (shell corporations) then transferred funds to other companies, who then transferred the funds to the Biden family members. Each step in the process was created to hide the originating source of the payments. WATCH:

[ House Oversight pdf Summary ]

HOUSE OVERSIGHT – We have now established a network of over 20 companies formed by the Bidens and their associates. Most of these companies were LLCs and formed when Joe Biden was Vice President.

Based on the financial records we have obtained via bank subpoenas, we can now confidently trace at least $10 million in total from foreign nationals and their related companies going to the Biden family, their business associates, and their companies.

What services did the Bidens provide in exchange for this money?

It is unclear what they provided other than access and influence.

Joe Biden told the American people, on October 22, 2020, that Hunter never made money from China. That is a lie based on the bank records.

The Bidens took steps to hide, confuse, and conceal payments they received from foreign nationals. Here’s one example how a CCP-linked associate layered domestic limited liability companies to pay Hunter Biden.

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Multiple Biden family members received money from the Chinese after it passed through an associate’s account. Additionally, Hunter Biden received money directly into his company’s account from a Chinese-controlled entity.

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In addition to the China money ties, we are adding a new country to our growing list of places the Bidens received money from:

Romania.

The Biden family and associates’ activities in Romania reveal an influence peddling scheme from 2015 to 2017.

While VP Biden was lecturing Romania on anti-corruption policies, he served as a walking billboard for his son & family to collect money.

Hunter & his associates capitalized on a lucrative financial relationship with a Romanian national who was later convicted of corruption.

The Bidens received over $1 million for the Romania deal, with 16 of the 17 payments made during Biden’s VP term.

The money stops flowing from Romania soon after Joe Biden leaves office, establishing a pattern of influence peddling.

Due to the info we are releasing today and further developments our committee is aware of, the investigation will enter a new phase.

Representative James Comer will soon issue more subpoenas to banks for specific, targeted information.

In addition, he will provide one more opportunity for certain Biden associates—including his art gallerist and Rob Walker—to cooperate willingly with this investigation.
Additionally, James Comer is publicly releasing this Second Bank Records Memo to the American people so they can see for themselves the activities the Biden family has engaged in, despite the President’s statements to the contrary. (source)

[Link to pdf]

May 10 2023

5.6.23: CPAC Hungary MSG, Fall of the CROWN, EPSTEIN, TUCKER, Title 42 PRAY!


By And We Know posted originally on: May 6, 1:42 pm EDT

May 10 2023

Title 42 to End – Border Crisis is About to Explode


Armstrong Economics Blog/Migration Re-Posted May 10, 2023 by Martin Armstrong

Donald Trump noted in his interview with Nigel Farage that the US is expected to receive as many illegal immigrants as the population of NYC. The immigration problem is out of control and there is absolutely no way that the current economy can host such a large influx of undocumented people. Trump implemented Title 42 in March 2020 to curb “mass uncontrolled cross-border movement,” that allowed the government to expel migrants to prevent the spread of COVID.

The CDC and other agencies agreed to Title 42 and it was accepted by both parties. Between March 2020 and January 2023, over 2.7 million migrants were expelled from the US under this temporary law. Trump expelled 69% of migrant families who entered between March 2020 to January 2021. Biden expelled only 20% of migrant families under his term. Millions of people have entered America illegally under Biden, and thousands have died trying to enter America under the false promise that they can seek asylum here. These people cannot simply return to Mexico since millions are not even Mexican citizens. Certain countries, such as Venezuela, Cuba, Haiti, and Nicaragua, refuse to accept the deportations of their own citizens. Simply put, these people are stuck with nowhere to go.

Title 42 is set to end on May 11 as COVID is no longer a public health emergency. Vice President Harris is in charge of overseeing the border crisis but has not offered any potential solutions. In fact, she insists that the border is safe and secure whenever she’s questioned. Reports state that tens of thousands of migrants are waiting at the US-Mexico border and plan to enter after May 11. Troy Miller of the U.S. Customs and Border Protection (CBP) anticipates 10,000 illegal crossings per day once Title 42 ends, but others are predicting a larger influx. Biden stationed an additional 1,500 troops along the 2,000-mile border, but they’re completely outnumbered. The situation is unmanageable and there will be consequences in the coming weeks as towns are overrun with undocumented illegal immigrants. Unfortunately, the Biden Administration has focused all of its resources on securing Ukraine’s border and has abandoned the crisis at home.

May 10 2023

Tucker Starting on Twitter – Yes He Was Fired Probably for Jan 6th Clips


Armstrong Economics Blog/Press Re-Posted May 9, 2023 by Martin Armstrong

May 10 2023

Tucker Carlson Announces Venture with Elon Musk’s Twitter Broadcasting


Posted originally on the CTH on May 9, 2023 | Sundance 

Only if you really understand the background of Jack’s Magic Coffee Shop, an argument can be made that the deal between Elon Musk and Tucker Carlson is trying to get the unsubsidized financial viability of Twitter under the control of an independent platform.  At least, that’s my slant on the positive perspective here.

As a free communication platform, Twitter has never been, and is not now, financially viable.  However, if Musk can continue finding ways to monetize the platform, subscriptions, exclusive content, advertising, and now broadcasting etc., he might finally be able to break free from the data processing subsidy running behind it.  We should be cautiously optimistic, yet pragmatic to the reality of the challenge.

Toward that end, Tucker Carlson announced today an intent to use the social media platform as a free speech and journalistic broadcasting system.  If Elon Musk chooses to make Carlson the anchor of this ¹Twitter enterprise it would be akin to ²Fox streaming services making Carlson the anchor of Fox News digital, via Fox Nation.  {Direct Rumble Link} WATCH:

Tucker Carlson teams up with Twitter

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¹On an investment/return approach, it would make a lot of sense for Elon Musk to give Tucker Carlson a percentage stake in the enterprise (25% backend wealth) in combination with a front-end lump sum and generous expense deferred contract [all write-offs for Musk].  Carlson retains full proprietary control of his created content; Musk gets platform profitable; a genuine win-win.

²Tucker Carlson and the show Tucker Carlson Today was the prior anchor of Fox Nation digital. Murdoch shot themselves in the streaming foot when they fired him.  However, you will notice Murdoch waited until Carlson had produced a year’s worth of yet to be broadcast long-format programming which Fox Nation still owns.

(Via Axios) Tucker Carlson, two weeks after being ousted by Fox News, accused the network Tuesday of fraud and breach of contract — and made a host of document demands that could precede legal action.

Why it matters: The aggressive letter from his lawyers to Fox positions Carlson to argue that the noncompete provision in his contract is no longer valid — freeing him to launch his own competing show or media enterprise.

On Tuesday, Carlson announced he would be bringing his show to Twitter.

“Starting soon we’ll be bringing a new version of the show we’ve been doing for the last six and a half years to Twitter,” he said in the video. “We bring some other things too, which we’ll tell you about. But for now we’re just grateful to be here. Free speech is the main right that you have. Without it, you have no others.”

The intrigue: The Twitter move would seem to technically violate Carlson’s contract with Fox, but his lawyers’ letter effectively holds that Fox breached the contract first.

Sources told Axios that Carlson’s lawyers sent their letter before he took to Twitter to announce his new show.

Catch up quick: Axios reported Sunday that Carlson, frustrated by being held to his contract, is preparing to unleash allies to pressure the network into letting him work for — or start — a right-wing rival.

Carlson’s contract runs until January 2025 and Fox wants to keep paying him, which would prevent him from starting a competing show.

Carlson already has gotten eye-popping offers from several right-wing outlets, and has talked to Elon Musk about working together.

The details: The letter — from Carlson lawyer Bryan Freedman to Fox officials Viet Dinh and Irena Briganti — said Fox employees, including “Rupert Murdoch himself,” broke promises to Carlson “intentionally and with reckless disregard for the truth.”

The lawyers accuse Fox executives — which two sources say are Dinh and Murdoch — of making “material representations,” or promises, to Carlson that were intentionally broken, constituting fraud.

Notably, the letter alleges Fox broke an agreement with Carlson not to leak his private communications to the media and not to use Carlson’s private messages “to take any adverse employment action against him.”

Multiple outlets have reported on Carlson’s redacted communications from pre-trial discovery documents and have suggested that they led to his ousting.

The letter also alleges Fox broke promises not to settle with Dominion Voting Systems “in a way which would indicate wrongdoing” on the part of Carlson and not to take any actions in a settlement that would harm Carlson’s reputation.

Carlson was told by a member of the Fox board that he was taken off the air as part of the Dominion settlement, two sources briefed on a conversation told Axios. (read more)

*Headline updated 10:52pm EST as Musk denies any current joint partnership – which makes sense, giving the pending litigation on the contract at Fox News.

May 9 2023

Powell on Bank Acquisitions


Armstrong Economics Blog/Banking Crisis Re-Posted May 9, 2023 by Martin Armstrong

After the FOMC decision, Jerome Powell stated during his Q&A that the Federal Reserve does not have a plan to consolidate banks. “I personally felt that having small, medium, and large were a great part of our banking system,” Powell stated, noting that they all serve different customers. Powell said it could have been a good outcome had one of the regional banks bought failed First Republic instead of JPMorgan Chase. However, the chairman noted that the FDIC mandates that banks be acquired using the least costly resolution option.

The FDIC says it does not give preference to bidders. How can a bank qualify? According to the FDIC website: “Bid lists are created for each acquisition opportunity based on potential acquirer’s qualifications and interests and characteristics of the failing bank such as capital ratios, regulatory ratings, assets and core deposits as reported on the most recent Call Report and geographic location of the bank. Each bid list is developed using several criteria sets to identify approved potential bidders for an acquisition opportunity, while considering factors that match likely approved bidders to an acquisition opportunity.”

Due to the recent banking failures, the FDIC has also created guidelines specifically for failed bank acquisitions:

“The FDIC markets troubled institutions to healthy insured depository institutions. The FDIC is statutorily required to resolve failed institutions using the least costly resolution option minimizing losses to the Deposit Insurance Fund. The FDIC's primary objective is to maintain financial system stability and public confidence. Returning assets to the private sector in an orderly manner at the best price is another key objective. The FDIC also tries to reduce the impact on the community.

Recapitalization before failure is the preferred method to resolve open troubled financial institutions. FDIC markets institutions in case a failing institution is not able to resolve its issues on its own. If an insured depository institution is unable to resolve its issues, the FDIC will implement its resolution process by which qualified bidders may seek to acquire the assets and assume the liabilities of the failing institution.”

Obviously, smaller banks will not have the ability to compete. All banks are struggling with liquidity issues, and mid-sized institutions will likely be unable to offer the “least costly resolution option.” Ideally, they want failing banks to be attained prior to failure, and only large institutions can provide that cushion. Nothing in the FDIC guidelines at the time of this writing currently limits what a large institution could acquire. The computer states that we will see more banking failures across the globe. Based on these guidelines in the US, it is reasonable to assume that large banks like JPMorgan Chase will benefit from future acquisitions and continue to grow. It is unclear whether banking monopolies are permitted under the 1890 Sherman Antitrust Act, but it remains to be seen what alternatives the system will have as more banks go under.

May 8 2023

CBDC – The Real Target


Armstrong Economics Blog/Central Banks Re-Posted May 8, 2023 by Martin Armstrong

A lot of people somehow think that the move to Digital Currency is a completely new monetary system, It is targeted to eliminate cash transactions so everything is taxable and nothing can be hidden from our overlords. If we look at commerce in the United States during 2022, 82% of all transactions were digital – Debit cards (20 percent), credit cards (30 percent), and digital wallets 32 percent. That was e-commerce.

They are hunting down what they believe is 30% of all commerce and cash and lick their lips at the thought of having their hand in your pocket. Make no mistake about it. They know major upheaval threatens their power. Like Trudeau seizing accounts of anyone who donated to the Truckers, that is the agenda. Control all transactions and turn off anyone who they see as a threat.

May 8 2023

Why Are there No Democrats on Mt Rushmore?


Armstrong Economics Blog/Politics Re-Posted May 7, 2023 by Martin Armstrong

COMMENT: The reason there are no Democrats on Mount Rushmore is because they are anti-American, by pretending to be fair, they seize the wealth of everyone who has more than they do. You are right. The United States will fall. As Abraham Lincoln stated, a house divided cannot stand. Marx has destroyed civilization. I sold everything and leaving this hell hole called California.

DF

ANSWER: Oh, it gets worse. There are people in Australia talking about it is not fair that you leave your children more wealth than the guy next door. The solution, all wealth is to be confiscated and put into a fund for everyone’s retirement and everyone should start from zero.

The problem, a farm cannot continue beyond the founder or a small business. Nothing would ever become like General Motors or Ford if everything must be confiscated to be fair.

“We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.”

Anyone who votes for socialism is against the very founding principles upon which this nation was established. This is also why the United States will collapse. It is deeply divided and we will see secession as this agenda toward authoritarianism progresses. I have also actually heard people justifying that Russia must be destroyed because it is a Christian nation and anti-WOKE. which is unacceptable in this new world of WOKE Enlightenment.

May 8 2023

The Insanity of Bitcoin & CBDC


Armstrong Economics Blog/Cryptocurrency Re-Posted May 8, 2023 by Martin Armstrong

QUESTION: Just about every Bitcoin advocate says you are wrong and Bitcoin cannot be stopped. Yet, it seems they are dreaming. Here in Europe, we are already restrained by the maximum cash transaction is €1000. Do you maintain that cryptocurrency will be outlawed or seized?

HT

ANSWER: Yes. Here is  Lagarde on digital currency. She states this object is “control” everything you do. Europe is a Marxist Paradise. Everyone is an economic slave and whatever they earn belongs to the state – not them. The state will decide how much you are allowed to keep. I really do not understand these Bitcoin people. They put out all of these theories as if Bitcoin is the savior. These people are out to control EVERYTHING. Do you really think they will allow any cryptocurrency to survive?

I don’t think these people read the memo. Government is broke. They will default on all their debts. And the new monetary system they are planning is total control. LaGarde says they are “considered” no controls on 300-400 euros. “CONSIDERING” means as it stands now, there is 100% proposed control – period! They will be able to restrict what you are allowed to spend money on or even donate if donations will even be allowed.

These people would NEVER be hedge fund managers. The first question you must ask yourself is: What if I am wrong?

They have made up their mind, refuse to consider any other scenario, and in the process, they will have a very rude awakening. We are entering a period of COMPLETE TOTALITARIANISM as we move toward 2032. Governments are losing control in this Private Wave and they then fight back to survive like a cornered animal that will fight to the death.

That is the agenda! What do they not understand? They will impose capital controls. They always do. That will mean that they will have no intention of allowing people to buy and sell cryptocurrencies. They will most likely do that as well when it comes to gold.

The entire purpose of the CBDC is to impose COMPLETE capital controls. So how will you buy and sell anything that they deem to be a threat to their totalitarian world? That is what is coming. All the fools who voted for Biden and will again deserve the world these people are creating. They intend to make RESISTANCE IS FUTILE. In the process, the right to vote will vanish.

Trump won in 2016 and John Kerry called it “populism” not Democracy. They WILL terminate our right to vote in the years ahead because it will no longer be defined as democracy – but populism, which is any movement against the establishment.

Schwab is telling you that Democracy will be terminated. Pay attention. Listen carefully to the report by the FT and how the election of Trump scared the hell out of career politicians. They will never allow Trump to win in 2024. They will assassinate him if there is no other way. The propaganda was that the 2020 vote was real- that was a joke. The Deep State was not going to let Trump win and they control the vote counts.

May 8 2023

FED NOW Launch July 2023


Armstrong Economics Blog/USD $ Re-Posted May 7, 2023 by Martin Armstrong

QUESTION #1: why no information on CBDC. Need help fast. Feds are suppose to call in the dollar in July.
HELP
mk

COMMENT #1: This whole thing reminds me of the movie The Omen and we will be accepting the number of the beast and without it we will not be allowed to buy or sell. I don’t know about a person being the infamous anti-Christ, but it sure looks like the government is trying hard to fulfill that role.

SC

ANSWER: The FedNow is the system that will be for CBDC and the elimination of all paper money. However, they will not cancel the dollars in July – not just yet. This is why they are rushing 5G before testing to see if the radiation is harmful. This is all about total control and 100% tax collection. They will be able to turn off the ability to buy and sell categories as well as individuals.

I will do a private post on the timing for the end of paper money. That is coming. It is part of their authoritarianism into 2032.

As for the governments of the world being the anti-Christ, who knows? Perhaps they saw that movie and said that’s a great idea! The “eternal sea” has always been used to refer to politics. This is certainly justification for term limits. Once career politicians were created, that ended any hope of an honest government. Those who are not crooks, look down on us as the scum – hence hiring 87,000 IRS agents with guns.

As far as the number everyone knows the “666” of the anti-Christ, but strikingly, most do not know the number of the name the Jews gave to God – “Jehovah.” If we use the old Hebrew system we can find the number of God. Yod =10 , He = 5, and Vau = 6. Therefore, the name of God in Hebrew – He Vau He Yod equals 5 + 6 + 5 + 10 = 26. The number of the name assigned to God by the Jews is 26. Perhaps they should apply this system to entities rather than individuals.

I have been often asked by students of history that the list from which I derived the Economic Confidence Model was 224 years divided by 26 events yielding 8.6153846 which was a derivative of Pi, and was it based on this calculation of 26? It was not. There just so happened to be 26 events in that 224 period. Beyond that, who knows?