The European Commission is just an Undemocratic Echo Chamber


COMMENT: Mr. Armstrong, Rome was my first WEC. It was truly an eye-opening event. Nigel Farage was correct – you are the alternative to Davos. I wanted to say after you explained the structure of the European Union and there the German people were denied any right to vote to join the euro, this coronation of the new grandmaster of the European Union Ursula von der Leyen was utterly undemocratic. We never have a right to vote for the head of Europe. Americans complain about Trump, but at least he was elected. Leyen was never elected by the people and this is very dangerous for this institution need never answer to the people.

HBM

RESPONSE: You are absolutely correct. They can hold impeachment proceedings against Trump but the head of the EU does not have to face the people in any election. This is a real problem. The European Commission is simply an echo chamber. They all see the world only through their own eyes and need not be held accountable to the people. Draghi imposed more than 10 years of insane interest rates that have wiped out pensions and destroyed the dreams of the elderly. Then they appoint the head of the IMF who was a lawyer and also does not stand for election EVER!!!

Difference Between Hyperinflation and Currency Inflation


QUESTION: What is the difference between asset inflation and hyperinflation? I believe you are saying that from Jan 2020 we will see inflation which I understand to be asset inflation?
Thanks
FL

ANSWER: Asset inflation is typically a reflection of a decline in the value of the currency, but this can be 50% over the course of one to two years. Hyperinflation typically occurs when confidence in the government itself completely collapses. This is usually in a peripheral economy or often in times of war or major domestic revolution, as was the case with the Continental Currency in the United States and the Assignats of the Revolutionary government in France. Asset inflation can be also caused by an investment boom concentrated within a single sector such as the Dot.com Bubble. The typical definition of hyperinflation is when prices rise by more than 50% per month over a period of time.

Then there is DEMAND inflation, which is typically one of two aspects. It can come in the form of a hot item like Pet Rocks, Cabbage Patch Dolls, etc. The second aspect is a shortage of something such as wheat or corn and the demand forces the price to rise.

Israel Blocks Tlaib and Omar Visit over Support for Anti-Israel BDS Movement…


Citing the continued effort of Rashida Tlaib (D-MI) and Ilhan Omar (D-MN) to advocate for the anti-Israel Boycott, Divestment and Sanctions (BDS) movement, the government of Israel notified Representatives Omar and Tlaib Wednesday night they would not be granted entry visas this weekend.

Not long before the news was public, President Donald Trump tweeted his support for the decision by the Israeli government:

Immediately the political media went bananas with proclamations that President Trump was the cause of the denied entry.  According to many DC politicians demanding the elimination of the state of Israel does not warrant a denial of entry.  The Democrats -and some Republicans- say Israel should respect the voices of American politicians who want to see their nation eliminated.  Apparently Israel disagrees with this position.

WASHINGTON – Israel on Thursday barred Reps. Ilhan Omar and Rashida Tlaib from entering the Jewish state, citing their support for a Palestinian-led boycott movement — a decision that unleashed a torrent of condemnation by Democratic congressional lawmakers.

“The decision has been made, the decision is not to allow them to enter,” Israeli Deputy Foreign Minister Tzipi Hotovely told Israel’s Reshet Bet Radio.

[…]  Prime Minister Benjamin Netanyahu defended the announcement by Interior Minister Aryeh Deri by saying Israel is a “vibrant and free democracy” that is open to criticism of its policies, but “with one exception.”

“Israel’s law prohibits the entry of people who call and operate to boycott Israel, as is the case with other democracies that prevent the entry of people whose perception harms the country,” he said, according to The Jerusalem Post.

The decision was made by Netanyahu, Foreign Minister Israel Katz and Minister of Strategic Affairs Gilad Erdan.

“The State of Israel respects the US Congress, as part of the close alliance, but it is inconceivable that anyone who wishes to harm the State of Israel will be allowed, even during the visit,” a press statement said.  (read more)

Senator Rand Paul Speaks for First Time Since Serious Lung Surgery…


Senator Rand Paul had to undergo recent lung surgery as an outcome of an attack by a violent member of the Democrat resistance in 2017.  In his first interview since the surgery Senator Paul discusses his ongoing recovery and the continued expressions of violence from the political left.

Shooter Surrenders – Philly Police Shooting Standoff Ends After Suspect Surrenders…


The armed standoff between Philadelphia police and a suspect who shot six officers ended shortly after midnight when Maurice Hill, 36, a local man with a lengthy history of gun convictions, surrendered to authorities.

According to the Philadelphia Inquirer the suspect has a lengthy criminal record including firearm violations, drug sales, assault and resisting law enforcement. [Background Here]

World Crisis Coming Soon


The world is in a complete midlife crisis or some may say an end of life crisis. I am overseas as the world is simply going nuts. At times, I feel more like a shrink having to reassure people that it will all be OK. Both Europe and Asia are having a very bad string of days.

Asia is concerned that China will intervene in Hong Kong. Protesters in Hong Kong seem undeterred by China’s thinly veiled threat of sending in the armed forces. But Beijing would pay a steep price if it were to send in troops politically. Trump has stated that he regards it as an internal matter for China, while even Mitch McConnell said sanctions would be appropriate. Footage has surfaced on the Chinese internet showing columns of armored vehicles heading south and converging on the city of Shenzhen. The videos seem to suggest that the Chinese People’s Armed Police Force, a heavily armed paramilitary unit, is gathering on the Hong Kong border.

Meanwhile, back in the old world, the EU seems more intent on preserving their power than any rational review of economics. They seem to be doing whatever they can to bury the European economy under this crazy idea of federalizing Europe in a half-ass way that still leaves the individual states in an impossible position to ever reach a unified agreement about anything.

Meanwhile, the former Chancellor Philip Hammond has accused the PM of trying to wreck the chance of a new Brexit deal, by making demands the EU could never accept. He seems to be more on Brussel’s side than his own country. Mr. Hammond said a no-deal Brexit would be “a betrayal” of the 2016 referendum result and that he vowed that Parliament would “make its voice heard,” adding that a no-deal “must not happen.” There is no question that Germany will be the biggest loser and then there is Ireland who does not want an EU version of the Berlin Wall. More than 50% of trade for Britain lies outside of the EU, but a no-deal is far better for it will be able to negotiate trade with the rest of the world not subject to French supervision.

Additionally, with the chaos in Asia and in Europe, the US is still the safe-haven. This could push the dollar into record highs by creating a panic of vertigo that may force the world to sit back down and renegotiate how the world monetary system will survive. Alternatively, we all just all shoot it out and build walls to retain domestic absolute control.

The problem with the collapse of socialism is that the promises made to retain power cannot be supported. The Pension Crisis will explode and at the currency projection, by 2032, we will be looking at a $400 trillion unfunded catastrophic liability. There is no way we could even make it that far. We will be looking at this during the WEC in October (tickets are still available).

Is California the Worst Economic Nightmare in the USA?


QUESTION: Marty,

Whenever you refer to California Dreaming, my blog post from a few years back, I cannot help but smile. Thank you for your chart on the California economy. Does this represent most states? Does this represent the state of the U.S. economy? What states are actually growing?

Yes, I agree with you that the government has become very corrupt, but no really cares about the Clintons anymore because they have no real impact on the average person’s life. The real issue, I believe is the war that is going on regarding freedom of access to making informed decisions on more important matters such as parenting and vaccines. Your blog at least has not been wiped off of Google and Facebook like Natural News, Mercola, and a host of other sites that call into question the efficacy and safety of vaccines. Google, Amazon, Facebook, etc have made it very difficult to find dissenting views on vaccines due to a letter from a Congressman. You should research this issue.

I think this is the real undercurrent going on right now, at least from my perspective. Plus the civil asset forfeiture, and the jailing of the journalists.

Thank you! I still think you are awesome!! I miss chatting with you!

S

ANSWER: California is actually the worst. Illinois is in trouble, but that is because their constitution forbids renegotiating state employee pensions. In the case of California, it is really just a Socialist’s dream of directing pensions to invest green. Losing money is just the tip of the iceberg.

 

What Makes Currencies Rise & Fall in Value?


House-Testimony

QUESTION: What makes currencies rise & fall in value?

CC

ANSWER: Many people want to reduce this to a logical explanation. It reminds me of when I testified before Congress at the House Ways & Means Committee. They had to put me on a panel with academics. I told them to make me last. The Committee was asking about changes in taxes and the impact upon currency. The academics said there should be no impact. When they came to me, I dealt with the truth.

 

Currencies will rise and fall BECAUSE, first and foremost, this is the way international capital gets to vote on the CONFIDENCE in that political government. You see this in the spreads within the Eurozone such as buying Germany selling Italy or Greece for an example. The dollar has been rising of late BECAUSE the confidence in Europe has been collapsing. This becomes self-evident just plotting the Dow Jones Industrials in dollars v euro. If capital perceives a problem, it will flee from that region to another. The dollar rose during World War I and II, but it declined with the Korean War because the former was a reservoir of capital and the latter was not

Canadian Ethics Commission Concludes Justin Trudeau Violated Oath of Office, Broke Law, Used Position To Influence Attorney General…


The Canadian Office of Ethics completed their investigation of Canadian Prime Minister Justin Trudeau and whether he inappropriately used his office to influence and pressure the Canadian Attorney General to drop criminal charges against a political ally and donor, SNC-Lavalin.  [Backstory Here]

Section 9 of the Canadian Ethics Act prohibits “public office holders from using their position to seek to influence a decision of another person so as to further their own private interests or those of their relatives or friends, or to improperly further another person’s private interests.”

The investigation found:

“Prime Minister Trudeau used his position of authority over Ms. Wilson‑Raybould [AG] to seek to influence, both directly and indirectly, her decision on whether she should overrule the Director of Public Prosecutions’ decision not to invite SNC-Lavalin to enter into negotiations towards a remediation agreement.

Therefore, I find that Mr. Trudeau contravened section 9 of the Act.”

In response to the official finding of the Canadian Ethics Office, Justin Trudeau said he “accepted the findings”, but “disagreed with the decision.”

Additionally, Justin from Canada refused to apologize for interfering in the criminal case, breaking the law and violating the duty of his office, because his goal was to protect Canadian workers who might have been negatively impacted if the company was impacted or was barred from doing business.

In essence, a ridiculous virtue-signalling defense. WATCH:

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Immediately the leftist Canadian media circled-the-wagons to protect the office of the Prime Minister.  The liberal media in Canada agree that all oaths of office are contingent upon only following laws, rules or governmental policies that advance liberalism.  Any liberal or left-leaning target that runs afoul of the laws of Canada can be excused if their intent is to assist the larger progressive cause.

All Canadian media agree, openly and publicly, that if a conservative prime minister was to engage in similar conduct, to the benefit of a company donating to conservative political candidates, that Prime Minister should be immediately removed from office.  It is the political ideology and intent of the office that determines the application of law.

Within the Canadian media response to the transparently illicit conduct of Prime Minister Trudeau, you discover why Canada has a closed media system, called a “cultural industry”.   By law, policy and regulation, including within trade agreements, the media business in Canada is protected by the government from competition.

The “cultural industry” laws are how the liberal Canadian government keeps control of narratives to ensure no political challenges to their ideology ever reach the electorate.  The closest comparison in media systems would be dictatorial state-run media in China, Iran, Turkey or similar ideologically controlled nations.

As a consequence, Prime Minister Justin Trudeau was just found by the U.S. equivalent of the Inspector General, to have violated the most fundamental principal of his office and the Canadian legal system; yet he will remain in office to advance the progressive agenda.

That’s Canada.

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