Back in rally mode, tonight President Donald J. Trump will be holding a campaign rally at Arnold Palmer Regional Airport in Latrobe, Pennsylvania. President Trump is expected to speak at 7:00pm ET with pre-rally speakers beforehand.
Donald Trump Campaign Livestream – RSBN Livestream Link – Fox News Livestream
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This video shows the tyranny in Australia as they arrested a pregnant woman for posting about a protest against the lockdowns. We have warned that the War Cycle, which includes Civil Unrest, turned up in 2014 and will build into intensity by 2022. This is not a forecast that has ever given me any pleasure. The two components are international war and civil unrest which leads to revolution. The worst seems to be on schedule for the Pi Target after 2024 and the peak of this 8.6-year business cycle wave of the Economic Confidence Model.
On January 1, 1901, the six colonies joined together forming the Commonwealth of Australia. The Revolutionary Cycle in Australia turned up in 2013, just slightly before the global War Cycle which turned up in 2014. The actions of the Australian government have completely turned toward an absolute authoritarian reign. Here you see that they are indeed monitoring all social media arresting a pregnant woman for merely posting on Facebook that a protest would take place. Even the German high court ruled that the government could not stop the protest on August 29th, 2020. Here in Australia, you see that the government has rejected every principle of a free society. Typically, the West would impose sanctions against Australia blocking all trade for they are treating their people no different than Russia invading Crimea as the West alleges, Syria, or Iran. Don’t forget the allegations against Iraq that it was a dictatorship.
The Australian Civil Unrest Cycle should begin to pop next year in 2021 and build into intensity by 2026. These politicians will be voted out of office so there will most likely be claims that in the middle of such a crisis, elections will be suspended. These politicians cannot now allow a free election for anyone who would then side with the people would be moved to arrest these politicians and prosecute them. Therefore, as long as Australian police act like the ones in this video, there will eventually be blood in the streets.
After the previous turning point of August 7th, 1964 which picked the Gulf of Tonkin Resolution incident to the day, there were massive protests against the Vietnam War. This is also the era when the Beatles wrote the song Revolution. Today, they would probably be thrown in prison for daring to even sing it. In Britain, the BBC is banning a song Rule Britania because it says they will never be slaves.
Never in my wildest imagination did I ever expect such a wholesale coup against our freedoms. This is what the rest of us face from 2021 on. Politicians no longer represent the people. They have simply gone mad. There are elections coming in 2021 around many places globally. I would expect them to be rigged, or even suspended for those in power doing this sort of oppression will surely not be re-elected. This is a global coup because the socialistic systems are failures which include the pensions for government workers.
QUESTION: Mr. Armstrong, You have said that fundamentals really mean nothing because the market runs on confidence. What about the fundamentals during the 2008 crash? Didn’t the bankruptcy of Lehman Brothers send the market down and then it was supported by TARP and the central banks?
Thank you;
GD
ANSWER: The entire economy is built upon CONFIDENCE and then that moves in ANTICIPATION of events which often may never even take place. Here is a chart of the Crash of 2008. You can easily see that the bankruptcy of Lehman was not really that devastating. Then you look at when the government passed TARP on October 3rd, 2008. The Dow fell from over 10,000 to mid 7000 levels in 5 days after TARP. It consolidated briefly but continued lower into the week 0of March 2nd, 2009. Obviously, the market continued to collapse as CONFIDENCE declined and there was NO INDICATION that the government intervention ever worked including the monetization by the Fed.
I have made it very clear that LOWERING interest rates has NEVER saved the day. The $700 billion they handed banks saved the banks, but they NEVER lent the money out. They lacked the CONFIDENCE that the crisis would end soon so they would not lend money and simultaneously people are NOT going to borrow to “stimulate” the economy when they too fear the future is just unknown. These theories are made up by academics who have NEVER traded in their lives. It is impossible to understand these concepts without hands-on experience.
This is what Socrates writes for each day during the crash. You have to approach this objectively. There are more than 70 independent models correlating together to produce these results. Then everything must be looked at also from an international perspective. Internationally, Lehman had more of a bearish impact whereas TARP was seen as more positive internationally. What a difference currency makes.
The Dow Jones Industrials made a new low penetrating the previous session’s low and then closed below that level plunging significantly again by 4.75% which strongly suggests we are entering a potential crash mode position. A break of today’s low of 1031025 during the next trading session will warn of a potentially serious decline ahead especially if it closes below today’s low again. The last important high was formed on Monday August 11th at trading days ago. Our projected support for tomorrow lies at 1018098 and a break of that level can set in motion a panic to the downside. Hence, pay close attention at this time.
We did close above the previous session’s Intraday Crash Mode technical support indicator which was 997310 settling at 1048285. The current crash mode support for this session was 999652 which we still closed above implying the market is holding for now. The Intraday Crash indicator for the next session will be 1002412. Now we have been holding above this indicator in the current trading session, and it resides lower for the next session. If the market opens above this number and holds above it intraday, then we are consolidating. Prevailing above this session’s low will be important to indicate the market is in fact holding. The Secondary Intraday Crash Mode technical support lies at 943412 which we are trading above at this time. A breach of this level with a closing below will signal a sharp decline is possible.
Intraday Projected Crash Mode Points
Today…… 999652
Previous… 997310
Tomorrow… 1002412
This market has declined for 2 trading days which has been a sharp decline of 5.25%. However, we have not elected any bearish Reversals to date from the high of Wed. 1st.
The Uptrend Line from the last low created at 1036545 tied to the secondary low made on 10/02 remains as resistance standing at 1046421. Only getting above this level on a sustained closing basis will signal a rally to the upside.
Currently, the market remains quite bearish below all our system support indicators with resistance starting at 1037142. The broader cyclical system indicators are also in a bearish position while the long-term trend and cyclical strength are bearish. This market has technically been trading beneath our projected envelope of support at 1050088 warning this decline has been rather reasonable down 10% from the high made 09/19. We have elected all four Bearish Reversals from that high showing weakness.
The Dow Jones Industrials made a new low penetrating the previous session’s low and then closed below that level collapsing substantially again by 11% warning this market is entering a Panic Sell-Off. Penetrating today’s low 952532 and closing beneath it will tend to confirm that warning. The projected support for the next session lies at 907292. Penetrating this level intraday would warn of a panic to the downside becomes possible which strongly suggests we are entering a potential crash mode position. A break of today’s low of 952532 during the next trading session will warn of a potentially serious decline ahead especially if it closes below today’s low again. The last important high was formed on Monday August 11th at trading days ago.
Our projected support for tomorrow lies at 935730 and a break of that level can set in motion a panic to the downside. Hence, pay close attention at this time.
We did close above the previous session’s Intraday Crash Mode technical support indicator which was 999652 settling at 1032538. The current crash mode support for this session was 1002412 which we penetrated intraday and closed below warning this market is in a panic type sell-off. The Intraday Crash indicator for the next session will be 907292. Normally, when you open back above this pivot number or closed back above it then the sell-off is subsiding. So, watch this number which is dynamic for it changes with each session.
Intraday Projected Crash Mode Points
Today…… 1002412
Previous… 999652
Tomorrow… 907292
This market has declined for 3 trading days which has been a sharp decline of 12%. However, the overall decline has been more pronounced falling for 11 trading days. In the process, we have elected all four Daily Bearish Reversals from the high of 09/19.
Our projected pivot point remains as resistance standing at 1029645. Only getting above this level on a sustained closing basis will signal a rally to the upside.
As of now, the market remains quite bearish below all our system support indicators with resistance starting at 1036545. The broader cyclical system indicators are also in a bearish position while the long-term trend and cyclical strength are bearish. This market has technically been trading beneath our projected envelope of support at 1045207 warning this decline has been rather a spectacular crash down where emotions run high 17% from the high made 09/19. We have elected all four Bearish Reversals from that high showing weakness.
The Dow Jones Industrials made a new low penetrating the previous session’s low and then closed below that level plunging significantly again by 8.58% which strongly suggests we are entering a potential crash mode position. A break of today’s low of 943667 during the next trading session will warn of a potentially serious decline ahead especially if it closes below today’s low again. The last important high was formed on Monday August 11th at 1186711 which was 41 trading days ago. Our projected support for tomorrow lies at 928188 and a break of that level can set in motion a continued panic to the downside where extreme support lies at 907521. Hence, pay close attention at this time.
We did close below the previous session’s Intraday Crash Mode technical support indicator at 1002412 settling at 995550 which alerted us to a further decline was likely going into the instant session. The immediate crash mode support for this current session was 907292 which we have now closed back above suggesting the crash is subsiding. The Intraday Crash indicator for the next session will be 907521. Now since we closed back above this indicator in the current trading session, then holding above this indicator for the next session will imply the decline is subsiding. The Secondary Intraday Crash Mode technical support lies at 906159 which we are trading above at this time. A breach of this level with a closing below will signal a sharp decline is possible.
Intraday Projected Crash Mode Points
Today…… 907292
Previous… 1002412
Tomorrow… 907521
This market has declined for 4 trading days since the last high established at 1088252 from which we have witnessed a decline of 13%. However, the overall decline has been more pronounced falling for 12 trading days which has been a decline of 17%.
Granted, this decline has penetrated the previous key cycle low established at 1045944 and it is sharply lower by 18% from the last high made 09/19. Most importantly, this market entered Crash Mode 3 days ago. This type of pattern warns we are in the throes of a near-term correction which is rather serious at this moment.
Interestingly, this market has fallen down for 5 days from highest close closed below the previous low warning that the market is still vulnerable. The next projected target support lies at 990658 and we have already broken below two extreme projected technical support levels. Naturally, any short position should include a protective intraday stop above the previous high for now.
The Dow Jones Industrials made a new low penetrating the previous session’s low and then closed below that level plunging significantly in panic mode for the fifth consecutive time by 9.17%. This does warn that this market is in crash mode position right now. A break of today’s low of 919478 during the next trading session will warn of a potentially serious decline ahead especially if it closes below today’s low again. The last important high was formed on Monday August 11th at 1186711 which was 42 trading days ago. Our projected support for tomorrow lies at 902755 and a break of that level can set in motion a continued panic to the downside where extreme support lies at 885724. Hence, pay close attention at this time.
We did close above the previous session’s Intraday Crash Mode technical support indicator which was 907292 settling at 944711. The current Crash Mode support for this session was 907521 which we closed above at this time. The Intraday Crash indicator for the next session will be 885724. Up to now, the market has been holding above this Crash Mode indicator in the current trading session, but it is still declining sharply. Granted, it is also moving lower for the next session. A consolidation would only be suggested by opening above this target, and holding this session’s low of 919478 intraday. However, a break of this session’s low followed by a closing below this level as well will warn that a continued sharp decline is still in motion.
Intraday Projected Crash Mode Points
Today…… 907521
Previous… 907292
Tomorrow… 885724
This market has declined for 5 trading days since the last high established at 1088252 from which we have witnessed a decline of 15% qualifying this as a correction. However, the overall decline has been more pronounced falling for 13 trading days which has been a decline of 19%.
Granted, this decline has penetrated the previous key cycle low established at 1045944 and it is sharply lower by 20% from the last high made 09/19. Most importantly, this market entered Crash Mode 4 days ago. This type of pattern warns we are in the throes of a near-term correction which is rather serious at this moment.
Interestingly, this market has fallen down for 6 days from highest close closed below the previous low warning that the market is still vulnerable. The next projected target support lies at 966672 and we have already broken below one extreme projected technical support level. Naturally, any short position should include a protective intraday stop above the previous high for now.
Factually, the market remains quite bearish below all our system support indicators with resistance starting at 1031025. The broader cyclical system indicators are also in a bearish position while the long-term trend and cyclical strength are bearish. This market is also trading mostly below the bank of eight moving average indicators suggesting it remains in a mixed posture for now.
This market has technically been trading beneath our projected envelope of support at 1017578 warning this decline has been rather a spectacular crash down where emotions run high 19% from the high made 09/19. We have elected all four Bearish Reversals from that high showing weakness.
The Dow Jones Industrials made a new low penetrating the previous session’s low and then closed below that level collapsing substantially for the sixth consecutive time by 10% warning this market remains in a Panic Sell-Off. Penetrating today’s low 857919 and closing beneath it will tend to confirm that warning. Our extreme projected underlying support for tomorrow lies at 799800. This market has immediately declined for 6 trading days. This does warn that this market is in crash mode position right now. A break of today’s low of 857919 during the next trading session will warn of a potentially serious decline ahead especially if it closes below today’s low again. The last important high was formed on Monday August 11th at 1186711 which was 43 trading days ago.
Our projected support for tomorrow lies at 835591 and a break of that level can set in motion a continued panic to the downside where extreme support lies at 819531. Hence, pay close attention at this time.
We did close above the previous session’s Intraday Crash Mode technical support indicator which was 907521 settling at 925810. The current Crash Mode support for this session was 885724 which we penetrated intraday and closed below warning this market is in a panic type sell-off. The Intraday Crash indicator for the next session will be 819531. Normally, when you open back above this pivot number or closed back above it then the sell-off is subsiding. So, watch this number which is dynamic for it changes with each session.
Intraday Projected Crash Mode Points
Today…… 885724
Previous… 907521
Tomorrow… 819531
This market has declined for 6 trading days since the last high established at 1088252 from which we have witnessed a decline of 21% qualifying this as a correction. However, the overall decline has been more pronounced falling for 14 trading days which has been a decline of 25%.
Granted, this decline has penetrated the previous key cycle low established at 1045944 and it is sharply lower by 26% from the last high made 09/19. This type of pattern warns we are in the throes of a near-term correction which is rather serious at this moment.
Interestingly, this market has dropped for several days and closed below the previous low warning that the market is still vulnerable. The projected extreme target support for tomorrow lies at 799800 which needs to hold on a closing basis to imply a bounce can form thereafter.
Up to now, the market remains quite bearish below all our system support indicators with resistance starting at 952532. The broader cyclical system indicators are also in a bearish position while the long-term trend and cyclical strength are bearish. This market is also trading mostly below the bank of eight moving average indicators suggesting it remains in a mixed posture for now.
This market has technically been trading beneath our projected envelope of support at 999397 warning this decline has been rather a spectacular crash down where emotions run high 25% from the high made 09/19. We have elected all four Bearish Reversals from that high showing weakness.
The Dow Jones Industrials made a new low penetrating the previous session’s low after opening below it and then closed below that level collapsing substantially for the seventh consecutive time by 27% warning this market has been in a Panic Sell-Off after 7 days down. It is possible that we may have a temporary low forming. The extreme projected underlying support for today was 799800 which today’s action did penetrate intraday but we closed above that at the end of the session. Our extreme projected underlying support for tomorrow lies at 713534.
Indeed, this market has declined sharply bringing to bear the full scope of emotions in such declines. We need a higher open and a break above today’s high of 890128 while holding today’s low of 788251 to suggest a bounce is in order.
The Projected Breakout Resistance indicator resides at 865254 which we are already exceeded intraday but the market closed below it as of this session’s closing at 845119 Still, this typically implies that this market will rally to test overhead resistance if we exceed that level again intraday.
Intraday Projected Breakout Resistance
Today…… 923667
Previous… 941209
Tomorrow… 865254
Clearly, this market has been in crash mode position up to now. A break of today’s low of 788251 during the next trading session will warn of a potentially serious decline ahead especially if it closes below today’s low again. The last important high was formed on Monday August 11th at 1186711 which was 44 trading days ago.
Our projected support for tomorrow lies at 760663 and a break of that level can set in motion a continued panic to the downside where extreme support lies at 745394. Hence, pay close attention at this time.
We did close below the previous session’s Intraday Crash Mode technical support indicator at 885724 settling at 857919 which alerted us to a further decline was likely going into the instant session. The immediate Crash Mode support for this current session was 819531 which we have now closed back above suggesting the crash is subsiding. The Intraday Crash indicator for the next session will be 745394. Now since we closed back above this indicator in the current trading session, then holding above this indicator for the next session will imply the decline is subsiding.
Intraday Projected Crash Mode Points
Today…… 819531
Previous… 885724
Tomorrow… 745394
This market has declined for 7 trading days since the last high established at 1088252 from which we have witnessed a decline of 27% qualifying this as a correction. However, the overall decline has been more pronounced falling for 15 trading days which has been a decline of 31%.
Granted, this decline has penetrated the previous key cycle low established at 1045944 and it is sharply lower by 32% from the last high made 09/19. This type of pattern warns we are in the throes of a near-term correction which is rather serious at this moment.
Interestingly, this market has dropped for several days and closed below the previous low warning that the market is still vulnerable. The projected extreme target support for tomorrow lies at 713534 which needs to hold on a closing basis to imply a bounce can form thereafter.
Presently, the market remains quite bearish below all our system support indicators with resistance starting at 943667. The broader cyclical system indicators are also in a bearish position while the long-term trend and cyclical strength are bearish. This market is also trading mostly below the bank of eight moving average indicators suggesting it remains in a mixed posture for now.
This market has technically been trading beneath our projected envelope of support at 981467 warning this decline has been rather a spectacular crash down 31% from the high made 09/19. We have elected all four Bearish Reversals from that high showing weakness. We have not elected any Bullish Reversals from this low today.
Anyone who has seen my cartoons knows I support Trump and his re-election. Biden and Kamala would be a disaster for our country. However, I don’t always agree with the president and before we at GrrrGraphics begin producing a Republican Convention cartoon extravaganza, I thought I would temper it with a bit of criticism.
When Trump brags about the stock market going up and making new highs, I cringe. This is not a healthy stock market based on logic, earnings, or a healthy economy. The market has disconnected itself from capitalism and a true value discovery.
What’s really going is a Federal Reserve takeover of our economy. What we’re seeing is a monumental transfer of wealth from the have nots to the haves. It widens the gap between a few money lords and the vast majority of We, The Serfs. Before you say I sound like Bernie Sanders, this isn’t about class warfare, but it is about destroying what’s left of the middle class. It makes it easier for the illuminati and their point man, George Soros, to usher in their tyrannical socialism.
Leaving no good crisis unused, they’re leveraging the ‘plannedemic’ to help globalist corporations get fabulously wealthier and more powerful while the smaller businesses—the Mom and Pop middle class–are crushed. The Fed has poured in nearly $7 trillion into the stock market this year alone–and while it does help out those with 401ks as Trump says, it mostly helps those at the very top of the pyramid the most. Amazon’s Bezos has raked in countless billions of dollars has his company makes new highs. Apple has a two trillion dollar market cap. Tesla has the largest market cap of any auto company, even if their sales don’t justify it. Elon Musk is favored by the “Green New Deal” illuminati, so he gets propped up while competition gets stamped out.
The Federal Reserve, in a fascistic manner, gets to funnel money toward favored companies while revenue for small businesses is down 30 percent. The Fed creates money from thin air and keep ‘their’ stock market bull moving up, thus making the fabulously wealthy central bankers and the handful of powerful families at the top who own the Fed gets fabulously wealthier and more powerful. The top 1 percent already owns nearly 40 percent of the stock market. The rest of us get to pay for the bubble through inflation. Have you noticed how expensive food has become? Yet we don’t get to share in the money-glutted stock market. Has the Fed sent you a share of Amazon or Apple? Of course not. Yet we pay for their robbery through the massive creation of debt. It’s always the same—the powerful screw over the powerless. We’ve already passed the point of no return with the national debt (now nearing $27 trillion) and every few seconds another $100,000 is added to it.
Many Americans can’t afford to participate in the stock market bubble. They’re too busy worrying about how to pay their rent while the rich are getting incredibly richer by ill-gotten means. This is something Trump should consider before he brags about new stock market highs.
—Ben Garrison
The United Nations Security Council disgracefully rejected the U.S. initiative to extend the UN arms embargo against the Iranian regime beyond its current expiration this October. As the U.S. Ambassador to the UN Kelly Craft said at the time on August 14th, “the United States stands sickened – but not surprised – as the clear majority of Council members gave the green light to Iran to buy and sell all manner of conventional weapons. History will easily trace the path of leadership in this era, and unfortunately it will not go through the UN Security Council.”
Iranian Defense Minister General Amir Hatami made the Iranian regime’s malevolent intentions crystal clear. “We have made it known that we are ready to provide high-quality and appropriately-priced weapons and equipment to countries that need this,” he said on August 18th.
Ambassador Craft promised that the United States would not give up trying to prevent the world’s leading sponsor of terrorism from gaining unfettered access to the global arms market.
UN Security Council Resolution 2231, which endorsed the disastrous nuclear deal with Iran known as the Joint Comprehensive Plan of Action (JCPOA), lifted various nuclear-related UN sanctions against Iran that had been imposed in previous Security Council resolutions. The Security Council took this major UN sanctions relief step upfront in contemplation of the Iranian regime’s continuing compliance with its commitments under the JCPOA. Resolution 2231 provided a mechanism for those previous resolutions, with their accompanying prohibitions imposed on Iran, to “snap back” in the event of Iran’s breach of the JCPOA.
Iran has committed multiple material breaches of its JCPOA commitments relating not only to arms transfers and missile tests, but also to its core nuclear-related commitments regarding nuclear enrichment levels and access for international inspections. As one of the original participants in the process leading up to the full implementation of the JCPOA in reliance on Iran’s commitments, the United States has every right to initiate snapback of the provisions of previous Security Council resolutions that had been in place prior to January 2016, regardless of whether the U.S. has the support of other countries that are parties to the JCPOA or otherwise.
On August 20th, Secretary of State Mike Pompeo personally delivered letters to both UN Secretary General Guterres and to the president of the Security Council initiating the snapback process, leading to the restoration of virtually all UN sanctions on Iran lifted under UN Security Council Resolution 2231. “America will not appease,” Secretary Pompeo told reporters at UN headquarters in New York. “America will lead.”
The snapback is supposed to take effect in 30 days from notification of an issue involving “significant non-performance of commitments under the JCPOA,” according to the process outlined in Resolution 2231, unless a Security Council member or the President of the Security Council introduces a draft resolution beforehand that is passed to extend the sanctions relief on Iran. Such a draft resolution would not pass, however, as long as President Trump remains in office. The United States would be able to veto such a draft resolution, allowing the snapback to proceed into effect automatically.
Opposition to the U.S. initiative from China and Russia is to be expected. It is disappointing to say the least, however, that the Western European permanent members of the Security Council, France and the United Kingdom, have also come out publicly against the U.S. on invoking the snapback process. Then again, Western European countries are not known for their moral courage when potentially lucrative commercial deals are at stake.
The critics of the U.S. snapback initiative claim that the U.S. has no authority to invoke it after withdrawing from the JCPOA. The critics are wrong. The JCPOA itself is a non-binding political document that was not even signed. Security Council Resolution 2231’s endorsement of the JCPOA does not convert a non-binding political document into a legally binding agreement. If the U.S. decided, as it did for national security reasons, to reimpose its own unilateral sanctions, the U.S. has not violated any legally binding obligations imposed by Resolution 2231. However, what Resolution 2231 did do is to legally condition the lifting of United Nations sanctions that the Security Council had previously imposed on Iran upon Iran’s meeting of its JCPOA commitments.
The United States is identified in Resolution 2231 as one of the “JCPOA Participants.” The U.S.’s “participant” status under Resolution 2231 derives solely from its original active participation in the negotiation, finalization and implementation of the JCPOA. Resolution 2231 sets no other qualifications or conditions on the original or continuing eligibility of such specifically identified JCPOA Participants to initiate a snapback.
The U.S. could have vetoed Resolution 2231 because of the provisions lifting the previous UN sanctions but did not do so in reliance upon Iran’s commitments to abide by the terms of the JCPOA. Absent an amendment to the resolution to delete the United States as a JCPOA participant state after President Trump withdrew the U.S. from the nuclear deal in May 2018, which the Security Council never adopted, the U.S. maintains its original standing to initiate a snapback.
In short, the snapback provisions of Resolution 2231 are keyed to Iran’s JCPOA non-performance, not to the performance or non-performance of any other JCPOA Participant.
“[T]he United States” and any other “JCPOA participant State” may initiate snapback. Operative paragraph 11 of Resolution 2231 sets out the requirements for initiating snapback. Those requirements are that (i) a “JCPOA participant State” (ii) notify the UN Security Council (iii) of an issue it believes constitutes “significant non-performance” of commitments under the JCPOA. That has been done, and the snapback clock is ticking.
The attempt by China and other UN Security Council members to change the explicit text of Resolution 2231 with hollow declarations is meritless. China and Russia also attempted to enlist the current president of the Security Council in essentially ignoring the U.S. notification, as if somehow that would make the notification disappear or render it null and void. Indonesia’s UN Ambassador Dian Triansyah Djani, Security Council president for August, went along with the scheme. In his capacity as Security Council president, he said that he was “not in the position to take further action” on the U.S. snapback notification. Ambassador Djani said that there was no consensus in the Council supporting the U.S.’s move. Ambassador Djani should go back and read Resolution 2231 in detail. While a consensus may be desirable, no consensus is required for the snapback to take effect.
Dmitry Polyanskiy, Russia’s First Deputy Permanent Representative to the UN, tweeted what he viewed to be the result of the Security Council president’s decision to take no action: “It means, there is NO SNAPBACK.”
Wrong! The president of the Security Council does not have authority under Resolution 2231 to decide on whether the United States’ snapback notification is valid or not. He is authorized to introduce a draft resolution for a vote by the Security Council to keep the sanctions relief provisions of Resolution 2231 in place, which the United States can then veto. Simply ignoring the U.S. notification as if it did not happen will have no legal effect in stopping the snapback from taking effect.
When asked by reporters at the UN about sanctions enforcement, Secretary Pompeo would not get ahead of President Trump’s decision. “But you just need look no further than the history of the last two and a half years,” Pompeo said. “When the U.S. sanctions were violated, we enforced them. When UN sanctions are violated, we’re going to do everything we can to enforce them as well.”
QUESTION: In regards to your last post about Bitcoin and your comment that there may be a “threat regarding gold”, as well. What kind of threat do you think? If you own precious metals as a store of value and assume at some point you may need to use it to pay for things, they may have to get turned into dollars (or an alternative digital currency being forced) in order to buy products. My thought is that there will be a tax law passed that somehow taxes gold/silver when you sell it, not necessarily based off the capital gains. What is your take on this and what do you see the government potentially doing to discourage, force an alternative, or even ban people from having precious metals? Thanks for all your insight.
B
ANSWER: Gold bullion was listed as a black market circumventing Bretton Woods. They seized $38,000 in gold bars from a woman crossing the Canada-US border. You already cannot transport gold internationally. What most people do not realize is that even hopping on a plane, even on a domestic flight, carrying more than $10,000 in cash gives them the right to confiscate it. They confiscated $181,000 in cash from a man on a domestic flight.
Therefore, the risk is that they go beyond simply confiscating gold in transport, but they move to even shut-down physical dealers who already must report on transactions. They can plainly make gold illegal in transactions just as they now make it illegal to pay for even a hotel in cash with more than €1,000.
The Phillips Curve states that inflation and unemployment have an inverse relationship. Higher inflation is associated with lower unemployment and vice versa. The Fed is actually recognizing that the Phillips Curve is dead. I have been warning that the Quantity Theory of Money is also dead because all the tremendous increases in the money supply since the Great Recession 2007-2009 has failed to produce inflation or stimulate the economy. Instead, this has led to negative interest rates since 2014 which have undermined the entire Keynesian Model as well.
This is why the book I put out Manipulating the World Economy keeps selling out. All three editions are gone. Every time Amazon listed the books, they were gone in less than 3 hours. All of these theories were dealt with and this book has had a major impact already. Of course, the goldbugs and Bitcoin advocates hate my guts because it does not support the old theories they rely on which indeed were the VERY SAME theories used by the central bankers which have failed. This has led to many deep conversations about how these theories no longer work and what is the future.
The media is portraying the Fed will create inflation now in a big way. Those forecasts are still relying upon these old theories which have failed to produce anything these projections said were going to happen including hyperinflation.
CNBC claimed that the Fed was going to deliver a major speech that would change the way the Fed views inflation and that this will somehow effortlessly restore everything back fo a normal inflation level. Missing in all of this remains CONFIDENCE. Not until people begin to look at these theories and how they have failed as is taking place in central banks behind the curtain, they will not grasp the risks of the future.
QUESTION: Dear Mr. Armstrong, I am writing from Lithuania, next to Belarus, which is is undergoing some serious civil unrest. It is anyone’s guess whether the presidential election outcome was faked/real, but the fact is that President Lukashenko is under serious pressure aimed at him being ousted. A question arises if the concerted effort to remove him was precipitated by his skeptical attitude towards all things covid19. I have to admit that I am no big fan of any dictator including Lukashenko, but the timing seems odd, as TPTB cannot care less for human rights abuse- Saudi Arabia is ok to them.
MY QUESTION IS IF BILL GATES IS PULLING THE STRINGS, as Lukashenko made a mockery of the corona affair? There were some obviously staged events in Lithuania to support the uprising in Belarus. And what worries me most, is the fact that participants were joining gloved hands and had masks on, sort of voluntary slaves. Ironically, the Belarus dictator let his people live their normal lives, including football games, when my Lithuania was under lockdown, and my 9 yo daughter has some anxiety issues since. Sort of Stockholm syndrome.
Keep up your great work.
PS
ANSWER: President Lukashenko is often called the accidental last dictator of Europe. There is no question that the Belarusian government has been against the climate change movement. Only in January 2020 did it announce an action plan to phase out polymer packaging. However, Lukashenko also rejected COVID-19 and did not lockdown his economy.
The rumor is that the opposition is being funded by Soros. Lukashenko accused the West of fomenting unrest as he sought to consolidate his grip on power amid widening protests. But it may not be governments, but clandestine activists on a global scale. Lukashenko spoke as the European Union rejected the official results of the vote. The EU naturally expressed its solidarity with protesters. The EU said it’s preparing sanctions against Belarusian officials responsible for the brutal post-election police actions. Lukashenko is also keeping in close contact with Putin in Russia.
We have been battling in Europe over our report produced by Socrates on Bitcoin which the banks seem to be throwing into the same category as banned countries. Below is an excerpt from the clearing bank in Europe which is even banning Israel putting it in the same category as Iran and North Korea. The credit card companies refuse to allow us to sell any reports to these listed countries below as well as the Bitcoin report. Anything to do with Bitcoin is being regarded as potentially illegal.
We have attempted to talk to the regulators on this matter and they are throwing it all into the same bin – selling bitcoin or reporting on bitcoin. This appears to be what I have been warning about that in moving to eliminate paper money and force everyone into their new digital currency in the wings within Europe, is a warning about cryptocurrencies in general and there is also a threat on the horizon regarding gold. The EU will not tolerate any competition for the object of canceling the currency supported by the Great Rest and Bill Gates, is to prevent any form of alternative money.
This sudden policy of throwing even commentary on Bitcoin into the same category as dealing with Iran or North Korea is just shocking. Trying to explain this is simply commentary and not buying or selling Bitcoin seems to go nowhere. They pull anything off YouTube that goes against the Great Reset. It appears they are perhaps preparing for the same action in Europe against cryptocurrencies.
We responded:
topic – Bitcoin is merely the name of the asset subject being discussed! I am happy to seek advice directly from the UAE Central bank for clarification on the Bitcoin issue if you think that would help?
The below is an excerpt they insist we sign.
The Merchant undertakes that under no circumstance, shall Iran, Israel, North Korea, Cuba, Syria & (or) Crimea (restricted countries/regions) related business activity, directly or otherwise, be routed through any of its Merchant Account(s) maintained with Telr. This undertaking equally applies to business activity relating to Sudan (North) where there is any US element such as but not limited to; USD, US territory or person, US owned / controlled entity or US origin goods. Business activity includes, but is not limited to:
United States Trade Representative Robert Lighthizer, U.S. Treasury Secretary Steven Mnuchin and China’s Vice-Premier Liu He release a joint statement showing renewed emphasis on phase-1 purchases.
Washington, DC – Ambassador Lighthizer and Secretary Mnuchin participated in a regularly scheduled call this evening with China’s Vice Premier Liu He to discuss implementation of the historic Phase One Agreement between the United States and China. The parties addressed steps that China has taken to effectuate structural changes called for by the Agreement that will ensure greater protection for intellectual property rights, remove impediments to American companies in the areas of financial services and agriculture, and eliminate forced technology transfer.
The parties also discussed the significant increases in purchases of U.S. products by China as well as future actions needed to implement the agreement. Both sides see progress and are committed to taking the steps necessary to ensure the success of the agreement. (link)
This is interesting timing. In the foreground President Trump has openly stated he was/is not seeking further trade discussions with China. However, in the background if China does not meet the $75 billion phase-1 purchases, then a set of automatically triggering tariffs kick-in…. so it is in China’s interest to engage.
This trade leverage, combined with President Trump’s willingness to completely decouple from China…. combined with tariffs against China being favored by President Trump… explains the position of the administration. Do nothing and tariffs kick back in.
According to Reuters analytics China has only purchased $7.3 billion in agricultural products through the first half of the year. The phase-1 agreement (tariff avoidance) requires $36.5 billion in purchases for 2020.
Additionally, in the energy sector: “China bought only 5% of the targeted $25.3 billion in energy products from the United States in the first half of 2020. Chinese state-owned oil firms have booked tankers to carry at least 20 million barrels of U.S. crude for August and September.” [Reuters Link] Again, if China doesn’t meet the agreement threshold the suspended tariffs return in full force.
It looks like Vice-Premier Liu He is attempting to head-off the re-institution of tariffs due to phase-1 purchases falling below the agreement; thus Beijing is trying to avoid the built-in tariff penalty aspect.
…If you plant your trees in another man’s orchard, don’t be surprised when you have to pay for your own apples…
I have created this site to help people have fun in the kitchen. I write about enjoying life both in and out of my kitchen. Life is short! Make the most of it and enjoy!
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