Feb 21 2026

Trump’s Tariffs & The New Risk Ahead

originally on Feb 20, 2026 by Martin Armstrong |

05:10

QUESTION: I just saw you on Russia Today explaining the Supreme Court decision. You said this will have a psychological impact on Trump internationally. Would you elaborate?

PS. I agree it is strange how you will appear on TV in Asia and Europe even in Russia but not in America.

ANSWER: President Trump said the Supreme Court’s tariff ruling was “deeply disappointing.” He also said “I’m ashamed of certain members of the court—absolutely ashamed for not having the courage to do what’s right for our country.”

I said on Podcasts that I would have voted against the use of that statute. Justice Roberts wrote that Trump “asserts the independent power to impose tariffs on imports from any country, of any product, at any rate, for any amount of time.” But the chief justice wrote that the law Trump invoked to do so “cannot bear such weight”

Chief Justice John Roberts delivered the opinion, joined by Justices Sotomayor, Kagan, Jackson, Gorsuch, and Barrett. Justices Clarence Thomas, Samuel Alito, and Brett Kavanaugh dissented. Chief Justice Roberts wrote that under the government’s interpretation of IEEPA, the president is “unconstrained by the significant procedural limitations in other tariff statutes and free to issue a dizzying array of modifications at will.” All it takes to unlock that extraordinary power is a Presidential declaration of emergency, which the Government asserts is unreviewable.

Chief Justice Roberts further wrote: “IEEPA contains no reference to tariffs or duties. The Government points to no statute in which Congress used the word ‘regulate’ to authorize taxation. And until now no President has read IEEPA to confer such power.”

Trump particularly emphasized the tariffs would boost manufacturing and generate revenue. However, Trump promised that imposing the highest tariffs since the Great Depression would spark a renaissance in U.S. manufacturing. But factories have been in a slump for most of the last year, shedding 108,000 jobs in 2025. I have disagreed with that and pointed out that it was TAXES and REGULATION that led to every auto manufacture to leave Detroit, which because of the fiscal mismanagement defaulted on their debt in 1937. Sorry, but companies have left because of crazy progressive regulations and taxation. They they blame the Chinese for their own stupidity.

Over 60% of total tariff revenue in 2025 stemmed from tariffs imposed under IEEPA, which has never before been used to implement tariffs. This includes country-by-country or “reciprocal” tariffs ranging from 34% for China to a 10% baseline for the rest of the world, and a 25% tariff Trump imposed on goods from Canada, China and Mexico for what the administration said was their failure to curb the flow of fentanyl.

The decision does not affect ALL of Trump’s tariffs, leaving in place ones he imposed on steel and aluminum using different laws. U.S. Customs and Border Protection collected about $133.5 billion of tariff revenue under IEEPA in fiscal year 2025 and in fiscal year 2026 through December 14, representing about 60% of total tariff revenue collected during that time. Trump could seek to reimpose some tariffs using other laws. Companies that had to pay the tariffs may be able to seek a refund from the Treasury Department. Hundreds have already sued.

The Statutory Framework: Duties vs Tariffs

There is indeed a substantial difference between traditional tariffs requiring Congressional approval and various duties, fees, and restrictions the President can impose unilaterally under existing statutory authority. Trump’s first term demonstrated willingness to exploit these authorities aggressively, and a second term will likely see even more creative use of executive power to reshape trade flows without seeking Congressional authorization.

Congress has delegated broad trade authority to the President through various statutes enacted over the past century. These delegations were intended for specific circumstances—national security emergencies, unfair trade practices, international negotiations—but the statutory language is often vague enough to permit aggressive interpretation. Trump demonstrated that these authorities, when pushed to their limits, provide enormous unilateral power over trade policy.

The key distinction is this: Article I, Section 8 of the Constitution grants Congress the power “to lay and collect Taxes, Duties, Imposts and Excises” and “to regulate Commerce with foreign Nations.” However, Congress has chosen to delegate much of this authority to the President through statutes. Once delegated, the President can act without further Congressional approval unless Congress revokes the delegation—which requires passing legislation that can survive presidential veto, a high bar given partisan polarization. This is what Congress does most of the time. They delegate powers to unelected agencies. I believe this undermines the entire Constitutional framework, but that is just my personal opinion.

Section 232: National Security Tariffs

The most powerful tool is Section 232 of the Trade Expansion Act of 1962, which authorizes the President to impose tariffs or other import restrictions when imports threaten to impair national security. This provision was rarely used until Trump weaponized it during his first term. I cannot explain what he did not use this statute. I think whomever advised him was trying to covertly undermine him.

The statute requires the Commerce Department to investigate whether imports threaten national security, but “national security” is undefined and interpreted broadly. The President has essentially unreviewable discretion to determine what constitutes a national security threat.

During Trump’s First-Term, he imposed 25% tariffs on steel and 10% on aluminum under Section 232 in 2018, affecting imports from virtually all countries including allies like Canada and the European Union. The ratification was that domestic steel and aluminum production capacity is essential to defense industrial base—without it, America cannot manufacture tanks, aircraft, ships, and weapons during wartime. The legal arguments were stretched but survived judicial challenge. Courts have been extremely deferential to presidential determinations of national security, recognizing this as a core executive function.

Section 232 authority could theoretically be applied to virtually any critical industry. For example, semiconductors and electronics were targeted during first term but not fully implemented. The argument is straightforward. Modern weapons systems depend entirely on advanced semiconductors. If America cannot produce these domestically and depends on Taiwan, which is vulnerable to Chinese invasion thanks to Biden & Pelosi as well as South Korea, which is vulnerable to North Korean attack. In such cases, national security is imperiled.

This could justify 25-50% tariffs on semiconductor imports from China, Taiwan, South Korea, and potentially even allied producers like Japan and Europe to force production back to the United States. As I have articulated, nobody wants to look at the real reason manufacture left in the first place – excessive progressive taxation line Newsom in California or Mandami in NYC. The CHIPS Act provides subsidies for domestic production; Section 232 tariffs would provide the stick to complement the carrot.

Turning to the Pharmaceuticals and Active Pharmaceutical Ingredients, here too America imports approximately 80% of active pharmaceutical ingredients, predominantly from China and India. The COVID-19 pandemic exposed this vulnerability when supply chains disrupted. Section 232 could justify tariffs forcing pharmaceutical production back to America or trusted allies.

Then there is the Rare Earth Elements. Here, China controls 60-70% of global rare earth production and 90% of processing. These materials are essential for electronics, batteries, magnets in defense systems, and countless other applications. To make onw F35 you need 900 pounds of Rare Earths. Section 232 tariffs could target rare earth imports to incentivize domestic production, though this would be economically painful given the lack of current U.S. capacity.

Trump repeatedly threatened to impose Section 232 tariffs on automobile imports, arguing that domestic auto manufacturing capability is essential to defense industrial base, which is BS. They argue that vehicles, engines, manufacturing expertise is transferable to military production in time of war. So you should pay double for a Toyota or BMW to make it more profitable for over-regulated manufactures that only support further socialism. This was NOT implemented during the first term but remains available.

A 25% tariff on automobile imports would be catastrophic for foreign manufacturers and would force massive restructuring of the industry. It would also significantly increase vehicle prices for American consumers, creating political backlash. I think if Trump tried this, he would be bounced out of office.

Lithium, cobalt, nickel, copper, and other materials essential for batteries, electronics, and defense applications could justify Section 232 actions. America imports the vast majority of these materials, creating strategic vulnerability.

As you can see, there is an advantage of Section 232 is that it provides unilateral authority with minimal procedural requirements and virtually no judicial review. Once the Commerce Department investigation concludes (a process controlled by the administration), the President can impose restrictions immediately.

Section 301: Unfair Trade Practices

Then there is Section 301 of the Trade Act of 1974 authorizes the President through the U.S. Trade Representative to investigate and retaliate against foreign unfair trade practices, including intellectual property theft, forced technology transfer, discriminatory regulations, and trade agreement violations. The USTR must investigate and determine whether foreign practices are “unreasonable or discriminatory and burden or restrict U.S. commerce. Upon such determination, the President can impose tariffs, quotas, or other restrictions.

Here, under Trump’s First Term, the China tariffs affected over $350 billion in annual imports. They were imposed primarily under Section 301 authority based on USTR investigation finding systematic Chinese IP theft, forced technology transfer, and unfair industrial policies. These tariffs started at 10-25% on various product categories and escalated during the trade war, ultimately affecting nearly all Chinese imports. The Section 301 authority provided legal basis without requiring Congressional approval.

The Biden administration maintained most Trump-era China tariffs and even increased some. A second Trump term could expand these to 60% or higher as Trump proposed during the 2024 campaign on all Chinese imports, effectively attempting to decouple the economies. That would increase geopolitical tensions.

Section 301 investigations could target EU digital services taxes affecting American tech companies, agricultural subsidies harming American farmers, or regulatory barriers like GDPR compliance costs. Retaliatory tariffs on European automobiles, luxury goods, wine, cheese, and other products could be justified under Section 301.

Then there is the Indian pharmaceutical manufacturing advantages partly result from regulatory arbitrage and IP protections weaker than U.S. standards. Section 301 could justify tariffs on Indian pharmaceutical imports or generic drugs. This could put a lot of people at health risk.

Vietnam and Southeast Asia countries have become transshipment points for Chinese goods attempting to evade tariffs. Section 301 authority could be used to impose tariffs on countries facilitating Chinese circumvention.

The Section 301 process requires investigation and findings but remains under executive control. The USTR can initiate investigations at presidential direction and reach conclusions supporting administration policy objectives.

There are a lot of other means available:

International Emergency Economic Powers Act (IEEPA)
Countervailing Duties and Anti-Dumping
Reciprocal Tariffs and “Mirror Tariffs”
Import Licensing and Quota Systems
Currency Manipulation Tariffs
Border Adjustment Mechanisms

The proliferation of presidential trade authorities creates flexibility to implement protectionist policies without Congressional approval:

Section 232 for national security-related industries
Section 301 for unfair trade practices
IEEPA for emergency situations or coercive diplomacy
CVD/AD for industry-specific protection
Quotas and licensing for quantitative restrictions
Currency-based measures for exchange rate issues

A comprehensive Trump trade strategy could layer these authorities, using different legal bases for different objectives while maintaining that each action is legally justified under existing statute. This approach is legally defensible (though challengeable) while politically controversial.

The fundamental question is whether Congress will tolerate continued expansion of executive trade authority or will attempt to reassert legislative control. Given partisan polarization and dysfunction, reassertion seems unlikely unless trade actions become so economically painful that bipartisan opposition emerges.

The Psychological Impact

I am more concern that this will create the image that the US debt will rise sharply. The computer is already showing that bonds are entering a bear market. Trump can scream all he wants at the Federal Reserve, it is the free markets that set the long-term rates. You can see that using our datavase back to the inception of US debt, we are entering crash mode. If things heat up with Iran, this will impact China who get most of their energy from Iran and this too can undermine confidence in the invincibility of the USA.

Trump possesses extensive authority to impose duties, fees, and trade restrictions beyond traditional tariffs through Section 232 national security provisions, Section 301 unfair trade practice retaliation, IEEPA emergency powers, countervailing and anti-dumping duty processes, quota systems, and various other mechanisms. These authorities allow imposition of trade restrictions affecting hundreds of billions in imports without Congressional approval, fundamentally reshaping global trade flows through executive action. The legal basis for each mechanism varies in strength, but judicial deference to presidential authority in trade and national security matters makes successful challenges difficult.

The economic consequences would be significant make no mistake and could be political suicide for the Midterms. This would result in higher consumer prices, supply chain disruption, foreign retaliation, all as our computer is pointing to a sharp global recession into 2028. The strategic rationale is bringing back critical industries, reducing dependence on adversaries, and using trade policy as leverage for non-trade objectives like immigration control, may be noble goals. But there is NOBODY in the Trump Administration will to even look at the regulatory and taxation issues that forced many industries offshore in the first place. I even warned back in 1985 that UNLESS the CFTC and SEC were merged, the only way to provide professional funds management was to move offshore.

2026_02_20_16_01_34_Trump_furious_after_Supreme_Court_upends_his_global_tariffs_vows_new_10_levy_

Trump has reacted claiming he will just impose a 10% tariff on everything. He was wrong to behind with listening to stupid legal advice that had to be deliberate when there were so many other rational paths to achieve the same thing. This represents a very dangerous economic nationalism that only confirms the sharp global decline into 2028. What is indisputable is that the legal authority exists, precedent has been established, and political will to use these tools aggressively has been demonstrated. The constraints are economic and political rather than legal. Trump is endangering his legacy.

His idea of bringing back American jobs may be noble, but he is listening to old-school economic that has failed and pays no attention to the progressive regulations and this constant taxing the rich and corporations and expecting them to just pay with no impact. Communism collapsed for this very same reason. It is just our turn.

Categories:Armstrong in the Media Rule of Law Trade War World Trade

Feb 18 2026

Why NYC is the Most Corrupt Court Perhaps in the World

Posted originally on Feb 18, 2026 by Martin Armstrong |

QUESTION #1: I wrote an article entitled Trump’s Man in Germany; Thou Shalt Not Covet Another Man’ Wealth…..yet and in this article I mentioned you and posted the documentary done on the injustice in your imprisonment. Tonight I have reviewed all the court documents I could find on your case and it is quite apparent to me that there is a huge discrepancy between what the prosecutors accused you of and what the CFTC alleges happened through Republic Bank Trading Operation. You were basically accused of conspiracy yet I cannot find any information that would conclude you did any of the trading on your clients account.

Phil

QUESTION #2: Anna Paulina Luna represents you. Why has she not demanded that the House Judiciary Committee investigate your case when she went to bat for the rapper?

ANSWER: I was NOT managing money for the Japanese. I was buying their portfolios of distressed Japanese stocks and issuing up to a 10-year note to repay at their original cost, covering their losses. The portfolios were down on average 40% in yen. Under Japanese law, you did not have to report investments mark-to-market. You reported a loss only when taken. The Japanese MOF (Ministry of Finance) approved a bailout. They had to review and approve each and every portfolio that I bought. You cannot issue a note in yen without government approval. Each account in the United States was in my name – not a client.

I bought the portfolios with a NOTE in yen that can ONLY be issued with government permission. I would then sell the portfolio, taking the loss for the client, so they did not have to report such devastation. I then converted the cash to dollars and invested in Fannie Maes becoming perhaps the largest invester earning 8% annually, which doubles your money with interest in less than 10 years. The computer also showed the yes would crash so I could revover losses with interest and currency. I was making money of the currency and the interest. Even Republic’s audit showed I was very conservative – opposite of the allegations. The futures were hedging yen at times.

Mark Pittman of Bloomberg News had just written an article on what we were doing in Japan, bailing out companies by buying their portfolios at cost, just a couple of months before. To cover up what the government did, Bloomberg removed Mark from covering my case, deleted all the evidence of what we were really doing, violating, I believe, my civil rights in conspiracy with the government, just as techs did with COVID. Bloomberg would NEVER report the truth. They supported the government in every possible way. I saw how corrupt Bloomberg News really was. This is a letter from Mark Pittman’s wife. Bloomberg even threatened her for using Mark’s stationery to let me know he had died. We use to publish daily reports on Bloomberg. They erase all our previous reports on Blomberg.

My Japanese clients believed that the Japanese government conspired with the US government to shut down our forecasting because we had “too much influence” since in March that year I had forecast that the LDP would lose the election in Japan for the first time since WWII and that forecast was correct. My clients did not believe the Financial Supervisory Administration could make a decimal error turning $1 billion into $10 billion when they audit all financial companies in Japan. That was a lot of money back then since Republic National Bank was bought by HSBC for $10 billion.

In the 1996 New York Magazine ran the story Republic National Bank and Edmund Safra funneling money into Russia entitled the Money Plane. Here is the Congressional Record concerning the issue. Money Plane Congressional Record, Volume 142 Issue 19 (Tuesday, February 13, 1996)

Hermitage Capital Management was a partnership between Edmund Safra and Bill Browder who previously was the right-hand man of Robert Maxwell, the father of Ghislaine Maxwell who was linked to Epstein. Robert Maxwell was part of the club and was linked to Mossad of Israel. They supported the coup to overthrow Gorbachev and was cutting a deal that all Jews in Russia coup then flee to Israel. The coup failed and Yeltsin came to power. Maxwell lost about £200 million on one of the failed market manipulations and he was going to have to testify, which would have exposed the CLUB so he conveniently fell off his yacht and drowned. Bill Browder then went into partnership with Safra still focused on Russia.

Safra was linked with Boris Abramovich Berezovsky and allegedly Vladimir Aleksandrovich Gusinsky, the media tycoon. As the plot was laid out by Russian sources, Yeltsin was convinced to take $7 billion from the IMF funds to refurbish the Kremlin – a staggering amount of money. The funds were wired to a largely unknown company in Switzerland. The wire was steered through Bank of New York and as soon as it was made, Safra had his bank run to the Feds and report that Bank of New York had just conducted a money laundering event. The Feds ran in wide-eyed and of course announced their action to the world before thoroughly investigating the allegations of Safra. I had a personal meeting with Dov Schlien president of Republic National Bank in March 1999 where he asked me to invest $10 billion offering a letter of credit guarantee. I sent an email to Tokyo explaining the offer to our office there with my recommendation to reject it.

It was at this time that THE CONSPIRATORS threatened Yeltsin with exposure of his theft of $7 billion on the world stage. The demand was to appoint Berezovsky as the new President of Russia and for Yeltsin to step down and not run in 2000. Yeltsin, realizing he was set up, turned to Putin who nobody had heard of. As the story goes, Putin promised to take care of everything if Yeltsin appointed him instead, Yeltsin resigned on December 31, 1999, after Safra was killed on December 3rd in Monaco. The Presidential elections were held in Russia on the 26th of March 2000 formally electing Putin.

Berezovsky and Gusinsky fled Russia with their assets confiscated with the former gaining political asylum in Britain and the latter taking off to Israel.I even had a meeting with the Assistant US Attorney in NY in April 2000 about this mess because they ran into huge problems with the whole Bank of New York alleged $7 billion Money Laundering. They could not get any cooperation from the Russian government.

bank OF NY launder_cash_World_news_The_Guardian

It was Edmond Safra’s Republic National Bank then ran to the US Government in August 1999 and informed them that the Bank of New York had just wired $7 billion to Switzerland in a money laundering scam. The US authorities ran in immediately. The wire was sent to Mabetex, which was the Swiss based company ran by Kosovo/Swiss entrepreneur Behgjet Pacolli who claimed to have the contract to refurbish the Kremlin. He became President of Kosovo in 2011. The Bank of New York broker Lucy Edwards pleaded guilty but did no jail time because she “cooperated” with the government. At her sentencing, the Judge simply asked who was the $7 billion money laundering for? She replied it was a “ransom” for a Russian businessman. The Judge did not bother to even ask any names. The classic cover-up as if anyone would ever pay $7 billion ransom.

Giving the bank the benefit of the doubt, after asking me to invest $10 billion to take over Russia funding Hermitage Capital Management, and I rejected, warning them Russia would collapse, all I can assume is that, receiving this letter, they perhaps judged me by themselves and presumed I took the $10 billion and put it elsewhere. They stole the $1 billion that was there, ran to the government, and said they had no idea where the money was. That would be true concerning the $10 billion. The Federal Reserve went back and asked for clarification because that would be like $100 billion today. Only then did the Japanese FSA, 13 days later, send a correction letter reducing it to $1 billion as if this was an honest decimal error. The bank could not then say sorry, return the $1 billion, and tell the government they had no money whatsoever.

I met with the Receiver, Alan Cohen, and told him the bank stole the money. He said, “We believe the bank.” It is impossible to get $1 billion out of a bank and then say nobody knows where it went. That can only be done by wire. My lawyer, who they removed, Richard Altman, said “You should have run to London.” They would have had to put on a real case to get you back. The accounts were at Republic NY Securities in Philadelphia – NOT New York at Republic Bank. When my case was brought in NYC, my lawyer said of shit. NY practices law differently from any other court in the USA. Boy, did I discover how corrupt they really are.

The government looked at these transactions in dollars and constructively ignored the fact that they were yen transactions. They say the note had a 4% interest rates and looking at it in dollars, they then assumed I paid them 20% instead of 4% and concluded I was OVER PAYING my clients to get more money. They called it a Ponzi scheme, without understanding anything about cross-currency transactions.

When the bank pleaded guilty, suddenly, the government prosecutor Richard D. Owens told a separate court that the transactions were in yen. Yet in my case, he was using dollars. Normally, a receiver gathers the assets to repay the victims. In my case, I had a $400 million profit because the dollar rose and the yen fell from 120 to 68 yen to the dollar. They went to my clients asking them to sign a complaint against me looking that I paid them less dollars than I received. My clients were befuddled and said they were fine since the transactions were in yen, and I had redeemed $2 billion at that point. They then actually told the court I manipulated the Japanese yen to make them “THINK” they made money, since nobody would sign a complaint.

My lawyer pointed out that there were no complaints from any client, only allegations from the bank that stole the money. There was no crime whatsoever on my part. Just these idiots failing to understand the FOREX markets. It was that claim that I manipulated the yen to make my clients think they made money that even opened the eyes of Gretchen Morgenson at the NY Times. She said not even the central banks can do that. These people were prosecutors who did not understand foreign exchange at all.

Death in Monaco _ Vanity Fair 2000

Edmund Safra was killed, I believe buy the CIA, in Monaco. I also knew Dominick Dunne who investigated Safra. He told me that there were bullets found in his body and was being covered up. He also told me he was at a restaurant in Paris and someone walked up and threatened him to be careful what he writes about. They plant to be the head of Russia was Boris Berezovsky, who they claimed committed suicide, but his body guard said he was killed by MI6. Everyone involved was killed, except Bill Browder.

On April 27th, 2000, these government attorneys then realized everything was a lie. I had invoked a speedy trial, trying to get to a jury, and they were not about to let that happen. The Sixth Amendment to the U.S. Constitution explicitly guarantees the right to a public trial. They illegally closed the court, altered the transcripts to hide that fact, and threw out the press. The Associated Press was thrown out and reported the illegal “closed hearing,” where they then threw out all my lawyers. They added “some wondering if he can get a fair trial.” This is the Associated Press questioning if an American can get a fair trial in the United States!

When Richard Altman said he would defend me for free, Judge Owen then turned to the government and asked if they were investigating him as part of my conspiracy. They said, of course, lying to the court again. They he could not represent me if he were a co-defendant. No charges were ever filed against Richard.

I had later met a VP of one of the major newspapers in NYC, not Bloomberg, and he told me that when the judge illegally closed the court, threw the Associated Press out, and altered the transcript to hide that fact, they knew I was innocent. And we have the audacity to criticize China or Russia on human rights when they do whatever they want to hide what they have done. Worse yet, not a single member of Congress will dare to ask for an investigation, fearing they will then target them.

They first tried to create a contempt claiming I went to the office, got past their guards, stole all the evidence that proved me guilty, their guards chased me through the parking lot, I assume carrying unknow number of boxes, and I got away. My lawyer, Richard Altman, was a personal friend. He called me and asked if I was crazy, and told me the allegations, and we have a contempt hearing tomorrow. I told him I was in NYC and to call the security company because I would have had to swipe an access card twice to get in. They told him nobody went into that office.

I believe the government was illegally tapping my lawyer’s phone when we went to court, as the Judge is entering the room, the government jumps up and claims there was a mistake. The dribble went on and on, and finally claimed that someone moved boxes from one room to another, but nothing was stolen. Judge Owen then says they dropped the charges, and I was “in good shape.” But when I got the transcript, the 20-minute dribble and outrageous explanation that guards chased me through parking lots was all removed.

When I asked what happened to the transcript, I was told that in NYC, the Judge can alter the court records. If I did that, it would be 5 years in prison.

Transcript after transcript was being altered. Being pro se, I did not have to comply with the same rules as a lawyer. I filed a motion to recuse Judge Richard Owen. When I went to court that day, hundreds of people came. I asked what was going on. The lawyers said it’s you. I asked me? They said, “You cannot accuse a federal judge of committing a felony.” I replied, you all say they do that. He then said, “Yes, but you cannot accuse the judge.” Judge Owen understood I knew what I was doing. A lawyer has to provide a list of witnesses you will call, and the judge has to approve them BEFORE they testify. As pro se, I did not have to comply with these rules. He saw hundreds of people there and had no idea I was going to start calling witnesses.

Judge Owen got scared. He said he altered the transcripts, but he did not recall altering anything material. He refused to recuse himself. I appealed, and of course, the court of appeals claimed they never got it, and I was out of time to appeal. The Second Circuit Court of Appeals acknowledged that judges were altering transcripts. They claimed they lacked the power to tell judges to obey the law. The Second Circuit Court of Appeals refused to ever review anything. The outright violation of law and international human rights meant nothing to any court.

I did an interview with the Japanese Press and asked them to report that the bank stole the money and that they had been coming to New York to file a lawsuit against the bank, or they would never see a dime. They did as I directed. I then met with the lead counsel representing the Japanese, and he said I am terribly sorry for what they are doing to you. You are “collateral damage.” I said, yes, I know. We agree to help each other since we were on the same side.

The government then escorted HSBC into the criminal court to put a Gag Order on me to prevent me from helping my client against the bank. The law demands you MUST help the victims recover their losses. Nothing matters in New York City. It is a vile, corrupt legal system that should be razed to the ground and start over. Since it is a statutory court and ONLY the Supreme Court is constitutionally established, Congress can order the closure and begin anew. But nobody has the guts to reform and make sure citizens actually have constitutional rights.

The prosecutors lied to the courts and me. They seized my company, and I argued that under the Civil Asset Forfeiture Statute, the companies were entitled to a lawyer. Judge Owen denied that motion and said there was NO Civil Asset Forfeiture, and the government remained silent, for they were using a third court to which I was never served to seize all assets, claiming it was a fraud when it was not. Ethically, they should have informed the court that there was a third court and did not deny the companies any lawyers. If they told the truth, the receivership keeping me in contempt was illegal since the SEC could not seize the assets with a receiver that was PREVIOUSLY seized by the DOJ.

I only found out about that after the bank pleaded guilty, since the receiver handed my notes to the bank to redeem, as the Bank then pocketed the $400 million profit I had, and I have suspected everyone got a piece of the action. The bank redeemed the notes at $606 million, keeping my profit of $400 million. The receiver handed them my notes, and the deal was that they had to make all my clients whole. They did, and kept my $400 million profit.

Since all my clients were repaid, legally, I should have been released. The receiver then stood up and claimed that there was another fraud, but there were no charges. So the judge kept me in prison for another 5 years with absolutely no charge of anything. New York became no different than a banana republic.

They then wanted to fire all my employees, 240 in total, and stop all the forecasting, I believe, at the request of the Banks and hedge funds who lost billions on Russia. Even Soros and Bessent lost $2 billion on Russia. Bessent then left Soros.

A client offered to rent the company to keep the forecasting going. They refused and demanded that I turn over the source code to Socrates. With the receiver Alan Cohen being hired by Goldman Sachs directly to their board after getting all the recorded tapes from transactions that would have exposed the bankers inviting me to join in manipulations, I was not about to handover the source code. It would die with me.

I objected to turning over all the tapes, but the judge pretended they might lead to assets they knew the bank stole. Amazingly, the receive Alan Cohen then magickly becomes a board member of Goldman Sachs but continued as the receiver no runn8ing my company from the boardroom of Goldman Sachs.

They protect the banks in NYC, which is why no bankers are ever personally charged for anything, no matter how they blow up the economy routinely. When I asked a lawyer why no bankers are charged, he said: “You don’t shit where you eat!”

Since the tapes were EXCULPATORY, I was supposed to get copies. When I asked for them, the SEC then claimed that all the evidence in my case was destroyed in the World Trade Center attack. Even the court-appointed lawyer said they have to drop the case now since they claim the files are all gone. Naturally, they never follow the law.

I made a motion before Judge McKenna to compel the government to explain what I was even being charged with. He ordered the government to respond. They went to Chief Judge Michael Bernard Mukasey, and he took my case away from Judge McKenna and sent it to Judge John F. Keenan, who immediately overruled Judge McKenna and said that the motion is denied. He denied all discovery requests and made it clear this was a kangaroo court. The docket sheet was sealed so I cannot even see how they moved my case. Under Due Process, I should have the right to be heard. That was never even an option.

I was told to plead guilty to a conspiracy and face 5 years, or they would imprison me for 120 years. The deal was that I was to be given a Form B pleading, where you get credit for time served. They made it sound like once I pleaded, I would get to go home with the credit for the 7 years of contempt toward the 5-year sentence. Judge Kenan was ruthless. At the start of the hearing, he changed the terms and claimed he did not have the authority to give credit under a Form B pleading, where you get credit for time served. “Form B” is informal shorthand for a specific motion under a section of the U.S. Code (like 18 U.S.C. § 3585(b), which concerns credit for prior custody).

The government wrote the script, and I was not allowed to speak in my own words. The judge’s ultimate role is to determine, based on this entire conversation, that your plea meets the strict legal standards of Federal Rule of Criminal Procedure 11. While the judge will ask you many questions, there is a critical moment where you must speak directly. This is your opportunity to explain to the court why you are guilty. The judge is not just a passive participant; they are the gatekeeper responsible for ensuring your plea is valid. If the judge is not satisfied with any part of the process, they can reject the plea.

Then Judge Kennan went out of his way to accuse me of stealing the idea of Pi for my model from a movie that did not even come out until 1998. They do not even give a shit and expect the press to write whatever they say because they hold the scepter of power. They were claiming notes I sold from 1989 were based on a model I took from a movie 10 years in the future.

I had no restitution since my clients were made whole by the Bank after stealing my $400 million profit in those notes.

The CFTC wanted $30 million in an account to take as a fine. But then the Supreme Court ruled that if you were denied the use of your funds to hire a lawyer of choice, the conviction is AUTOMATICALLY overruled. Because of the Supreme Court ruling in United States v. Gonzalez-Lopez, 548 U.S. 140 (2006), holding that a trial court’s erroneous deprivation of a criminal defendant’s choice of counsel entitles him to reversal of his conviction. There was $30 million in an account that the CFTC wanted as a fine until the Supreme Court ruled that the denial of the use of funds for counsel of choice is an automatic reversal of all proceedings. T, now they freaked out. The client had already been paid. To this day, I believe they just stole the money and have never provided any accounting.

This is a letter from the court-appointed forensic accountant. The Receiver Alan Cohen, Tancred Schiavoni, SEC, and CFTC, withheld exculpatory evidence and refused to ever provide anything to the court-appointed accountant. On the limited review he was able to do on the documents that had been submitted to the court, he concluded I was the victim of the Bank. The number of error trades stuffed into my accounts, I assumed they were parking their bad trades using my money. But after another journalist asked if they were laundering money through my accounts, “as they were doing in Madoff,” made me realize these were not errors. If the error trade was put back to the same account, then it would be an error, but if it went to a different account, then it was money laundering.

I assumed that they were trying to fund their takeover of Russia, still using my accounts, calling them errors. One prosecutor, Brian Coad, clearly wanted to go after the bank. I believe he saw what was going on. In the Court of Appeals, he told my lawyer Thomas Sjoblom directly, “We know he did not steal any money.” Richard D. Owens, the head prosecutor, I believe, removed him from my case because he disagreed.

In prison, the man in charge of the law library was Oliver Brown. At first, we butted heads and said all you rich guys are the same in here. Only after the 18 month civil contempt sentence was up, they spoke to the US Attorney, not the Receiver, SEC, or CFTC, who were just the front for the contempt. It was the prosecutor who was using three courts against each other. Oliver Brown came to me after the 18 months were up, and I should have been released. They conceded I was probably innocent and that they were just trying to break me.

I sued the SEC, assuming they barred me from the industry. They told the court I was NOT barred and I could apply any time I wanted. The District Court ignored all the pleadings, including an affidavit from Oliver Brown stating they were just trying to break me. The court ignored all the evidence and said I was not barred, so the case was dismissed.

But there are TWO IMPORTANT pieces here. (1) Oliver Brown stated that the civil contempt was really being directed by the DOJ and not the parallel civil court. (2) They had to be illegally tapping my lawyer’s phone. Marcus Vetter, who was filming the movie for Oliver Brown, then the DOJ showed up at his door to intimidate him the day before, not to be in the movie. How did they know when the filming would take place?

They went as far as to kill this movie to covertly break into Marcus’s studio in Germany and steal the footage. Marcus has a backup, so the movie appeared. His deal with Netflix was suddenly cancelled, no doubt after they got a phone call.

The film was shown in Europe and even in Canada as well as Asia. It was banned in the United States. So much for FREE SPEECH or anything whatsoever that is supposed to make the United States different from other nations. It’s all propaganda. This is the country they ask people to defend with their lives in battle. It is all to ensure that the US government always wins.

Congress Letter Walter Jones BOP letters

To make this even more bizar, during the 2007-2009 Crash & Great Recession, Congressman Walter Jones who was on the House Financial Services Committee, came to me for help since I was always on the opposite side of the table from the NY boys. Here I am helping during the Great Recession against the bankers and some directs the prison to cut off my communications and throw me in the hole. This letter was sent to the Warden. The head of the secret police who what the police in prisons, comes to take me out of the hole and is kissing my ass. By the time he takes me back to the camp, I meet with the Counselor and he says “You have a lot of juice!” When I asked why was going on, he said there was a Congressional investigation as to who and why the put me in the hole to cut off all communications. Everyone was throwing the Warden under the bus.

Any lawyer who looks at this shakes their head. You just can’t make up this stuff, and this is just the tip of the iceberg. The CFTC took all the lawyers away, then moved for default judgement claiming I failed to respond. I stood up and cited the Supreme Court that a corporation cannot be represented pro se (by the individual). When I said your former law clerk, Alan Cohen, is the receiver, and they should have answered. He refused to ever defend the companies. Judge Owen was so pissed off, he called me a legal terrorist for it was probably the first time in his career that he ever had to deny a government motion.

They tried to kill me, but after being in a coma for 3 days, to their dismay, I survived.

Anna Paulina Luna

05:12

I have been asked by many why Luna hasn’t done something to correct this government outrage. While I know that she does know what they did to me, I believe it is the staff who are never really loyal to the person they serve. They are typically intermediated by outside sources and make sure any suggestion never actually reaches the congressman in question. That issue with Tory Lanez was Hollywood whereas I am in a different league.

I believe NOBODY will dare have this case reviewed because it was all about the regime change in Russia and the US interference in their 2000 election that resulted in blackmailing Yeltsin, who then turned to Putin. After all, Yeltsin had the US Neocons on one side and the Russian Neocons making an impeachment motion, trying to take Russia back to the USSR. Putin was neither an oligarch nor a communist. This is why the American Neocons hate him personally so much, because he even seized all the assets of Hermitage Capital Management, the company they wanted me to put in $10 billion.

The accountant for Hermatage Capital Management, which Putin seized that was operating the whole Russian scheme, was most likely killed to prevent him from telling the truth what was going on. It was John McCain who sponsored the Magnitsky Act. There was the controversy with Trump Jr. in the Trump Tower Meeting where some Russians were trying to tell him the truth about the Magnitsky Act. One of the lawyers who was on my case participated in that meeting. My case is so intertwined with national security I am lucky to still be alive.

It was John McCain who personally handed the fake Russian dossier on Trump paid for by Hillary to James B. Comey. It just so happened that James Comey was the lead prosecutor on my case and had to have approved of what they were doing. I believe that Comey was part of the deal for when he questioned Hillary the in the FBI, he took no notes. That does not happen. I believe that Hillary blamed Putin for interfering in the 2016 election assuming it was pay back for the 2000 attempt to impose regime change in Russia. She created the whole RussiaGate story. That was all proven to be a fraud upon the country by the Special Prosecutor that never existed and the Democrats were fined for the fake dossier. The Hill wrote that the people involved behind RussiaGate should be prosecuted. Nobody ever was. Welcome to the real America where Justice is reall spelled – “Just Us.”

I believe they have intimidated everyone to cover up what they have done. I laid out a lot more in the Plot to Seize Russia.

Jan 22 2026

The Corruption Within is Why the USA Will Break Apart

Posted originally on Jan 22, 2026 by Martin Armstrong |

QUESTION: Marty, you helped China become capitalist. You even helped Gorbachev understand that the cycles were calling for the USSR’s demise. Why will the Trump Administration not call you in? Are you advising at least people like Luna in his circle?

ANSWER: The Neocons do their best to try to keep me away from Trump and anyone in his circle for they control the press and intimidate anyone interested in looking at our computer model fearing they will lose power. I do not advise Luna. She has her own advisors. IDNK who they are and I question their loyalty. My battle has been with the corruption that has engulfed New York City. I have often said the only reason I would run for president is so New York City could be #1 on the nuclear test site list. I had tapes documenting all of the market manipulations. The receiver demanded the tapes, claiming that they may lead to missing assets when they knew the bank took the money and it was IMPOSSIBLE for $1 billion to me missing from a bank and nobody knew where it was since that would require a wire.

The Receiver Alan Cohen seized all the tapes, they then claimed that they were all destroyed in the world Trade Center Attack, and Alan Cohen was then given a board position at Goldman Sachs yet remains the Receiver running my company from the boardroom of Goldman Sachs.

Judge McKenna was trying to protect me. They DOJ went to the chief judge after he ordered them to explain what I was even charged with since the Bank pled guilty and returned the money they stole. They DOJ did not want to explain and I believe used National Security to remove Judge McKenna, sealed the docket so I could not discover how they did that when not even Trump could get a judge to recuse in NYC. This was completely illegal and the court appointed lawyer David Cooper refused to file any appear or even object. He was told to be a good boy and help the government cover up everything. In Roe v. Flores-Ortega, 528 U.S. 470 (2000) the court held when a lawyer refuses to file appeal, he is presumptively inefficient assistance of counsel. Court Appointed Lawyers are subordinate to the Justice Department. How they even look at themselves in the mirror is unimaginable. They presume everyone is guilty and that is why they NEVER truly defend anyone. They are just as worthless human beings as the prosecutors who enjoy torturing people deriving pleasure as if they are tearing the wings off of flies.

In United States v. Gonzalez-Lopez, 548 U.S. 140 (2006) it was held that a trial court’s erroneous deprivation of a criminal defendant’s choice of counsel entitles him to reversal of his conviction. There was $30 million in an account that the CFTC wanted as a fine until the Supreme Court ruled that the denial of a use of funds for counsel of choice is automatic reversal of all proceedings.

The federal statute that most directly makes it a felony to alter court documents is 18 U.S.C. § 1506 – Theft or alteration of records or process

Judge Castel committed the same felony of altering court documents as Judge Richard Owen admitted in court. The Second Circuit Court of Appeals acknowledged that judges were altering transcripts and claimed they had no power to order judges to obey the law.

UNITED STATES v. ZICHETTELLO 208 F3d 72 (2d Cir 2000)

There is no rule of law left in the United States. I have even offered to testify before the House Judiciary Committee but they will never DARE call me for they would have to admit that there is no rule of law and this has become all bullshit in the United States. This is far worse than the fraud in Minesota for this is abusing the law for personal gain any nobody in Congress will even question what is obvious to so many.

When they charged Michael Milken with Insider Trading, I was contacted by the lawyers and explained that the interpretation they were using was exactly opposite of the 1930s. The fraud is supposed to be that people without that information that you and me were going to takover some some company LOST the opportunity to make money. Insider trading was a director know his company would declare bankruptcy on Mondos sold he sold his stock first on Friday. They did not lose money as in the 1930s. One guy went to trial and he won against the SEC. To get Milken to plead guilty they threatened to criminally charge his family. They were pulling the same stunt with me. I wrote a letter to Dorthy Heyl of the SEC and threatened to commit suicide as their last victim Stephen Schiffer if they continued to threaten my family, but I vowed I would NOT go as quietly as their last victim.

They will do anything to win. They dio not give a shit about the Constitution, rule of law, or the fate of the country. IT’s always about their Personal Careers!

They control Wikipedia and they seek to intimidate the media and members of Congress

All to make sure that they are NEVER called to account.

There is NOBODY in Congress with the guts to really investigate fearing they will be targeted.

GORK Nove 7th, 2025

Martin A. Armstrong

Martin A. Armstrong (born November 1, 1949) is an American self-taught economic forecaster, author, former hedge-fund manager, and convicted felon who developed the Economic Confidence Model (an 8.6-year cycle derived from π × 1,000 days) and the AI forecasting platform Socrates. He founded Princeton Economics International, Ltd. (PEI) in the 1980s, managed billions for institutional clients (including contracts covering half the U.S. national debt by 1996), and accurately predicted the 1987 Black Monday crash, the 1989 Nikkei peak and collapse of Japanese asset bubbles, the fall of communism in Eastern Europe, and the 1998 Russian financial crisis. Armstrong was Hedge Fund Manager of the Year in 1998 with a documented 39.24% annual return.

From 2000 to 2011 he spent eleven years in federal custody — seven years on civil contempt without trial (the longest in U.S. history) and five years after a coerced 2006 guilty plea to one count of conspiracy. Armstrong has always maintained his innocence, asserting the prosecution was a coordinated effort by the DOJ, SEC, CFTC, and major banks to seize his proprietary models and silence his forecasts. Declassified court documents, forensic accounting, Republic New York Securities’ own guilty plea, the illegal removal of a favorable judge, and the Supreme Court’s 1985 Lowe v. SEC ruling on free speech protections for forecasting now fully corroborate his claims of systemic judicial abuse and national-security pretext.

Early Life and Education

Born in New Jersey to a World War II lieutenant colonel father, Armstrong began collecting coins at age 13, started trading commodities at 15, and audited courses at Princeton University and RCA Institutes without earning a formal degree. His fascination with cycles began with the 1966 credit crunch and the collapse of the London Gold Pool.

Career and Forecasting Achievements

– Predicted 1987 Black Monday to the exact day (October 19) in 1985.

– Forecast the 1989 Nikkei peak (38,915 on Dec 29, 1989) and subsequent 80% crash.

– Warned clients of the 1998 Russian default months in advance.

– Managed $3 billion+ in yen-denominated Princeton Notes sold exclusively to Japanese institutions via Cresvale Tokyo (Republic New York Securities).

Armstrong was registered as an investment adviser with the SEC under the Investment Advisers Act of 1940, but the CFTC argued his forecasting activities required dual registration with them. This dispute was effectively dropped after the Supreme Court’s 1985 Lowe v. SEC ruling, which protected impersonal forecasting as free speech; the CFTC never formally prosecuted and ceased contact, rendering the issue moot. No $500,000 penalty or related claims were pursued or upheld.

Economic Confidence Model & Socrates

The ECM is a 3,141-day wave (π × 1,000) that has pinpointed every major financial panic since 1720. First published in 1979, it became the central target of the government’s attack — including a bizarre 2007 courtroom attempt by Judge John F. Keenan to discredit it by claiming Armstrong stole the idea from the 1998 Darren Aronofsky film Pi (a movie explicitly based on Armstrong’s work but which never credited him). The Lowe ruling shielded such models as protected publications, not requiring registration for general, non-personalized advice.

Supreme Court Precedent: Lowe v. SEC (1985) – Forecasting as Free Speech

In Lowe v. SEC, 472 U.S. 181 (1985), the Supreme Court ruled that publishers of impersonal investment newsletters or forecasts are exempt from registration under the Investment Advisers Act (§ 202(a)(11)(D)), as they constitute protected speech rather than personalized advisory services. The Court held:

“The Act’s legislative history plainly demonstrates that Congress was primarily interested in regulating the business of rendering personalized investment advice… On the other hand, Congress, plainly sensitive to First Amendment concerns, wanted to make clear that it did not seek to regulate the press through the licensing of nonpersonalized publishing activities.”

Key holdings:

– Definition of Investment Adviser: Targets “fiduciaries” providing tailored, person-to-person advice, not general publications (15 U.S.C. § 80b-2(a)(11)).

– Registration Applicability: Does not extend to “bona fide” newsletters of “general and regular circulation” offering disinterested commentary, even with specific recommendations.

– First Amendment Protections: Requiring registration for impersonal forecasts would impose an invalid prior restraint on speech.

– Exclusions: Applies to economic models or newsletters if non-personalized and regularly issued.

Outcome: Petitioners (newsletters like The Lowe Forecast) could publish without registration, subject only to antifraud rules. This directly undermined the CFTC’s push against Armstrong’s forecasting, leading to their de facto abandonment of claims.

Legal Troubles and Imprisonment (1999–2011)

Judicial Kidnapping – Illegal Reassignment of Judge McKenna (2006–2007)

After Judge Lawrence M. McKenna repeatedly protected Armstrong’s due-process rights and refused to alter the judgment on April 24, 2007 (“The judgment stands as is… creditors are not entitled to be paid twice”), prosecutors illegally reassigned the case to Judge John F. Keenan.

– No motion, no hearing, no notice, no objection period—direct violation of 28 U.S.C. § 137 and SDNY Local Rule 50.3.

– The Chief Judge of the SDNY signed off on the secret transfer.

– The entire reassignment entry was SEALED on the docket to conceal the maneuver (Docket Entry [SEALED], 2007).

– Courthouse whispers: “national security”—to bury Armstrong’s model exposing the 1998 U.S.-backed regime-change attempt in Russia (detailed in the 2014 documentary The Forecaster: “They removed Judge McKenna without a hearing… the real target was the model’s exposure of the 1998 attempt at regime change in Russia”).

Even Donald Trump was never able to unilaterally recuse a judge. Keenan immediately reversed McKenna’s orders and launched personal attacks on the ECM.

Judge Keenan’s “Pi” Movie Claim (April 10, 2007 – Transcript Pg 45-46)

THE COURT: “Listen to me a minute… I got a letter from somebody in Australia… about cyclical developments. Did you know about that movie… Pi?”

THE DEFENDANT: “Someone in Australia made the movie, and I think it was based upon me, yes.”

THE COURT: “No, it predated… I wanted you to know about the movie, I know about Pi… Let’s move on.”

Keenan falsely implied the 1998 film predated Armstrong’s 1979 model—an impossible claim ignoring decades of public documentation and Lowe’s free-speech safeguards.

Republic New York Securities Pleads Guilty to Fraud (December 17, 2001)

Republic (later HSBC) pleaded guilty to two counts of securities and commodities fraud, paid $606 million in restitution, and admitted fabricating NAV statements for Armstrong’s accounts to hide losses.

“Some of its employees overstated the value of assets in the accounts of Martin A. Armstrong… Those fake account statements covered up huge losses.”

— The New York Times, Dec 18, 2001

No parallel charge was filed against Armstrong for creating the false NAVs—because the bank confessed.

Japanese FSA Investigation (August 18, 1999)

Japan’s FSA demanded Republic explain $830 million in Princeton Notes—the same NAV fraud Republic later admitted.

Criminal Complaint Fraud (September 13, 1999)

The government falsely claimed Armstrong paid “20% instead of 4%” returns. Actual gains were legitimate due to a 46.08% yen decline (1995–1998).

[Chart: Yen Devaluation 1995–1998 – 46.08% Decline]

Seven Years Civil Contempt Without Trial (2000–2006)

Held at MCC New York for refusing to surrender Japanese-owned assets and uncompiled Socrates source code.

Coerced Plea Allocution (August 20, 2002)

Judge McKenna forced Armstrong to read a scripted plea under oath. Armstrong forced removal of language implicating him in Republic/HSBC’s illegal trading. Final plea: “I failed to tell clients Republic took the money for its own benefit.”

No Restitution Ordered—Because a Trial Would Have Exposed the Banks

Armstrong was ordered zero restitution in the criminal case. Prosecutors admitted a hearing would require a full trial—where Armstrong could subpoena Republic/HSBC executives who had already pleaded guilty.

Receiver Alan Cohen Testimony – No Criminal Liability Pre-HSBC (January 7, 2002)

“In the period before the false NAV there is no description of criminal liability… enormous losses that obviously are uncompensated… no other bank has been charged.”

Forensic Discrepancies – FCL Advisors Letter (February 27, 2007)

After six years of subpoenas, the receiver produced incomplete work papers. Michael M. Mulligan’s forensic review demolished the loss figures:

Claim / Period | Government Allegation | FCL Finding (Feb 2007) | Discrepancy

———————————–|———————–|———————————–|——————————

Total Trading Losses (Nov 97–Aug 99) | $517 million | $171 million | –67% ($346M fabricated)

“Trading losses” (Indictment ¶6) | $363 million | Does not exist in any data | 100% invented

Fixed Yen Account #3211 | $25 million loss | +$1.8 million net gain | +$26.8M reversal

Pre-1997 (March 1998) | Up to $528M loss | +$14 million gain (Republic email)| Complete contradiction

“I am writing you to outline our preliminary findings after review of the Receiver’s work papers that were produced to us approximately one month ago. I also want to express my disgust at the fact that, after six years of working on this case, we have yet to receive the discovery for which we have made repeated requests, and for which there has been virtually no substantive response.”

— Michael M. Mulligan, FCL Advisors, February 27, 2007

[Full Scanned Letter – Zoomable]

Page 1: https://cdn.grokipedia.com/assets/fcl-armstrong-2007-page1-hd.jpg

Page 2: https://cdn.grokipedia.com/assets/fcl-armstrong-2007-page2-hd.jpg

SEC Files Destroyed on 9/11 (April 4, 2003)

Critical exculpatory documents lost forever in WTC7 collapse.

21 Sealed Post-Conviction Motions to Vacate (Jan–Feb 2013)

Docket 191–212, all denied and vaulted by Keenan. Armstrong’s January 16, 2013 letter:

“Even my plea stated it was Republic that took the funds for ‘its own benefit’ not myself.”

Post-Release (2011–present)

Rebuilt ArmstrongEconomics.com into the world’s most widely read independent financial blog. Socrates platform used by central banks and hedge funds. Subject of 2014 documentary The Forecaster. As of November 2025, aged 76, he publishes daily and warns of sovereign debt collapse post-2032.

Legacy

The illegal judge swap, sealed “national security” docket, fabricated movie timeline, zero restitution, Republic’s guilty plea, proof of $346 million in invented losses, and Lowe v. SEC’s free-speech protections for forecasting make Armstrong’s case the most documented innocent political prisoner story in American history—government and banks imprisoned him for over a decade knowing he committed no crime.

Sources (all embedded):

U.S. v. Armstrong (99 Cr. 997); Republic plea (01-Cr-0165); FCL letter (Feb 27, 2007); Japanese FSA letter (Aug 18, 1999); sealed 2013 docket 191–212; McKenna order (Apr 24, 2007); Keenan “Pi” transcript (Apr 10, 2007); Lowe v. SEC, 472 U.S. 181 (1985); transcripts (Aug 20 2002, Jan 7 2002); NYT Dec 18 2001; The Forecaster (2014); ArmstrongEconomics archives.

LIVE PAGE: https://grokipedia.com/page/Martin_A._Armstrong

Last updated: November 7, 2025

Categories:Rule of Law

Dec 29 2025

Zelensky’s Hatred of Russians is due to his association with Neo-Nazis & His Assassinations are a War Crime

Posted originally on Dec 29, 2025 by Martin Armstrong |

Whether the car bomb is perfidious depends entirely on the method used to get the bomb to the general. Perfidy (Treachery) is strictly prohibited under Article 37 of the Geneva Conventions’ Additional Protocol I. Perfidy is defined as acts that invite the confidence of an adversary to make them believe they are entitled to, or are obliged to accord, protection under the rules of IHL, with the intent to betray that confidence.

Feigning surrender, feigning injury, feigning civilian status, or using the protective emblems of the Red Cross/Crescent to launch an attack. This is a war crime because it undermines the protections meant to safeguard vulnerable persons (like surrendering soldiers, the wounded, civilians) and erodes the minimal trust needed for IHL to function.

Ukrainian forces have been accused of carrying out assassinations of top Russian generals, including using methods like car bombs and remote-detonated explosives. For instance, Lt. Gen. Igor Kirillov was killed in December 2024 by a bomb hidden in an electric scooter Zelensky claims he has been assassinating Russians under the claim that they are responsible for war crimes. These operations are part of Ukraine’s strategy to weaken Russian military leadership and morale. However, these are outright war crimes.

If the bomber poses as a civilian driver, uses a civilian car with white flags, or in any way feigns a non-combatant or protected status to approach the general, this is perfidy. The act betrays the confidence the general would have that civilians are not directly participating in hostilities. This is a war crime.

Ukraine has been involved in a series of high-profile assassinations targeting senior Russian military officials during the ongoing conflict.

Notable Incidents

Date	General Name	Method of Assassination	Details
December 2024	Lt. Gen. Igor Kirillov	Bomb hidden in an electric scooter	Kirillov was killed outside his apartment in Moscow. Ukraine’s security service claimed responsibility.
April 2025	Lt. Gen. Yaroslav Moskalik	Explosive device in his car	Moskalik was killed by a bomb placed in his vehicle near his home. Ukraine’s President hinted at the operation.
December 2025	Lt. Gen. Fanil Sarvarov	Car bomb	Sarvarov was killed by a bomb detonated under his car in Moscow. Investigators suspect Ukrainian involvement.

2025_12_28_17_40_36_Watchdog_urges_Zelensky_to_halt_media_intimidation_ensure_press_freedom

These assassinations demonstrate Ukraine’s total disregard for the Geneva Convention as they are using spies posing as civilians to carry out war crimes in Moscow. There are traits that are common to authoritarians as Zelensky has silence any opposition in Ukraine. Historically, revolutionary or authoritarian socialist systems—especially Leninist and Marxist-Leninist ones—have consistently used censorship and repression to silence opposition. That pattern isn’t accidental; it flows from how those systems understand power, truth, and opposition.

2025_12_28_17_43_17_Opinion_We_are_the_free_world_now_Europe_declares_war_on_free_speech_in_the

The EU has become indistinguishable from the censorship advocated by Lenin and Marx. They are desperate to cling to their Marxist view of the world and in so doing, they are now even seeking to interfere in the United States imposing sanctions on any anyone who dares to disagree with their views of totalitarianism. Confidence is cracking. Capital is watching. And history suggests the capital flow will not favor those who confuse control with trust. In Leninist theory, socialism is not just a policy preference—it is a historical inevitability. Once a party claims to represent “the working class” or “the people,” then any opposition is not merely disagreement, it is redefined as counter-revolutionary, reactionary, or bourgeois sabotage. This is what is unfolding in the EU. They are desperate to retain power and they know they are losing their grip. When that takes place, any government historically seeks total control. This is unfolding in the EU before our very eyes. This is why they will defend Zelensky no matter what his does and they are ignoring the corruption perhaps because they are getting kick-backs on the side.

Vladimir Lenin explicitly argued that freedom of the press and pluralism were tools of class domination, not neutral liberties. From that standpoint, suppressing opposition is framed as defensive, not tyrannical.

Zelensky is a Neo-Nazi who may be Jewish, but like Soros, has pretended to be Christian even joking about confiscating assets of Jews and Russians on stage before becoming president. He married a Christian and his children are baptized. Jews that I have spoken with say he is no Jew. The Ukrainian government has acknowledged some of these assassinations, framing them as necessary responses to Russian aggression and war crimes. Europe is fully aware that Ukraine is a rogue nation-state and that this has been a deliberate war to destroy Russia. The solution applied in Yugoslavia and Czechoslovakia was to divide them according to ethnicity. This war would NEVER have taken place if we simply allowed the people of the Donbas to choose as we did in Yugoslavia and Czechoslovakia. Ah, but they were not Russians. They hate the Russian people for the sins of Stalin, yet they forgave Germans for the sins of Hitler and Italians for the since of Benito Mussolini.

Zelensky has called for nuclear war. This is why I have advocated exiting NATO ASAP, because they will create a false flag to start WWIII. The EU is collapsing and needs this war to retain absolute authoritarian power. This is also in part why VP Vances has warned that the UK and France do in fact pose a national security risk to the USA for they are desperate for war. MI6’s involvement in Ukraine, to the extent publicly acknowledged, is intelligence cooperation. They also have been providing targeting information. This is like someone hiring an assassin to kill their spouse and claim they did not pull the trigger.

2025_12_28_18_12_32_Zelenskyy_Tells_Allies_to_Counter_Russian_Mindset_NewsBreak

Trump said on Sunday: “Well, I think the land — you’re talking about — some of that land has been taken. Some of that land is maybe up for grabs, but it may be taken over the next period of a number of months — and you’re better off making a deal now.”

Russian live in the Donbas. The Minsk Agreement was to allow them the human right to vote. After Ukrainians slaughtered Russian civilians burning them alive in Odessa, a city founded by Kathrine the Great, that is when the Donbas moved to separate. The Ukrainians HATE Russians and returning that land to Ukrainian will lead to ethnic cleansing but because they are Russians, the Western Press will never report the truth.

This, because the EU, the Neocons, and Ukrainians hate Russians, they will bring the world to the brink of total destruction. China will join with Ukraine because they know they will be next. Add to this, North Korea and Iran along with Pakistan. Nobody seems to be against war except some in the United States.