Just when you thought President Recep Tayyip Erdogan was really off the reservation, he suddenly appears off the planet. Erdogan has appointed HIMSELF as chairman of Turkey’s Sovereign Wealth Fund and got rid of the entire management staff. It looks like Erdogan now thinks he can force the free market to do as he commands if he is also the trader for the Sovereign Wealth Fund.
Of course, Treasury and Finance Minister Berat Albayrak, Erdogan’s son-in-law, will also sit on the board, according to a decree published in the Official Gazette. Anyone who actually thinks that Turkey can recover is out of their mind. The fund was formed to try and capitalize on state assets and put a lid on market turmoil in the wake of a failed coup attempt. This is a guaranteed nightmare in the making. We are witnessing a stubborn politician who has become a dictator and believes there is nothing beyond his power. It is just approaching the time to turn out the lights on Turkey as any viable place for investment. Turkey is now approaching the highest Country Risk for investment on the board
According to CNBC, Bob Woodward reported that Trump told Gary Cohn, the former Goldman Sachs/director of the National Economic Council to just print more money to reduce the national debt. Woodward reports this discussion:
Trump: “Just run the presses—print money.”
Cohn: “You don’t get to do it that way. We have huge deficits and they matter. The government doesn’t keep a balance sheet like that.”
Here is a chart of the US CPI not seasonally adjusted. It has begun its sharp advance since the Floating Rate System was adopted in 1971 with the fall of Bretton Woods. In spite of borrowing, inflation over time has actually advanced more aggressively than if we had just printed instead of borrowed. Cohn has said the book “does not accurately portray” his experience of the White House. This claimed quote demonstrates that someone is seriously out of touch with economics. Actually, Trump is correct. Now we have Quartz joining the media calling Trump an idiot confirming they too are clueless about debt and printing. In fact, if you did just print the money and retired the debt, it would be DEFLATIONARY and not INFLATIONARY from the budget perspective because these people are clueless themselves about how the national debt works.
Before 1971, the debt could not be used as collateral for loans such as Savings Bonds. If you needed the money, you were forced to cash them in. Under this system, it was logically less inflationary to borrow than to print. However, post-1971, you buy T-Bills and post them as collateral to trade futures. The distinction between borrowing and printing has been turned upside down. A national debt is now worse than printing because itis money that now pays interest forever. Then there is no intention of ever paying off the national debt.
The truth is had we printed since 1971 instead of borrowing, there would be far less of an economic crisis compared to what we face today. If we simply printed to pay off the national debt, Social Security would suddenly become a Wealth Fund that actually made money instead of a Slush Fund for politicians. Now, Social Security can only invest 100% in US government debt and then the Fed lowers the interest rate to “stimulate” the economy and Social Security goes broke forcing higher taxes. Up to 70% of the national debt at times has been purely accumulated interest which never benefited anyone. It competes with the private sector in what we call the “flight to quality” and it forms the bank reserves. What is never discussed is the fact that US debt is also the reserve currency of nations – not paper dollars. That means that the interest we pay is exported and it stimulates foreign economies – not domestic.
So who is crazy here? Trump or Woodward? To keep borrowing year after year is insane. To monetize the debt will be DEFLATIONARY from the perspective of government expenditure. In 2019, interest expenditures even at this low level of interest rates will EXCEED military expenditure.
Woodward is by no means qualified to criticize Trump on such an issue he clearly does not even understand. Trump should really address the nation and explain this problem very simply. I will be glad to supply the charts.
Jumpin’ ju-ju bones. Hat Tip to Ezra Levant on Twitter – This is going to go down in the history books of bad diplomacy. You have to watch the first 2 minutes of this video. Canadian Foreign Minister took leave during the middle of critically important trade negotiations with U.S. Trade Representative Robert Lighthizer to attend a Women in the World conference in Toronto.
Check out the conference introduction video (first 01:30) “Taking on the Tyrant”, and the visual of Canadian trade negotiator on stage to deliver her remarks (next 30 seconds). Consider that Ms. Freeland made this decision during the most critical trade negotiations in her country’s modern history. The outcome of the U.S-Canada trade negotiation will determine the next several decades within the Canadian economy. Now Watch:
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Think about the level of ideological tone-deafness here. This is simply off-the-charts echo-chamber crazy. Canada needs a positive trade outcome; their economy is already on the ropes; and Freeland considers this a good idea? Unreal.
Ezra Levant
✔@ezralevant
Holy sh*t.@cafreeland left NAFTA negotiations to speak on a panel called “Taking on the Tyrant”.
Who do you think “the tyrant” was?
Look at the video intro to that panel. And then look at Freeland’s jubilation.
Earlier today President Donald Trump and First Lady Melania Trump attended a memorial service commemorating Flight-93 and the 9/11 memorial in Shanksville Pennsylvania.
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[Transcript] – THE PRESIDENT: Thank you very much. Thank you very much, Ryan. So beautiful.
We’re gathered together on these hallowed grounds to honor the memory of nearly 3,000 souls who were murdered on this day 17 years ago. We’re here to pay solemn tribute to the 40 passengers and crewmembers on Flight 93 who rose up, defied the enemy, took control of their destiny, and changed the course of history.
Today, we mourn their loss. We share their story. And we commemorate their incredible valor.
On September 11th, 2001, a band of brave patriots turned the tide on our nations enemies, and joined the immortal ranks of American heroes.
At this memorial, on this sacred earth, in the field beyond this wall, and in the skies above our heads, we remember the moment when America fought back.
Melania and I are grateful to be joined for todays ceremony by Governor Tom Wolf and Governor Mark Schweiker. I also want to thank the members of Congress in attendance: Senator Bob Casey, Congressmen Lou Barletta, Keith Rothfus, Bill Shuster, and along with the president of the Families of Flight 93, Gordon Felt.
We’re also joined by members of the National Park Service, along with firefighters, first responders, and incredible people from law enforcement. These are truly great people. (Applause.) Some of you here today answered the call and raced to this field 17 years ago. You fill our hearts with pride, and I want to thank you on behalf of our country. Thank you very much. (Applause.)
Most importantly, to the family members of Flight 93: Today, all of America wraps up and joins together. We close our arms to help you shoulder your pain and to carry your great, great sorrow. Your tears are not shed alone, for they are shared grief with an entire nation. We grieve together for every mother and father, sister and brother, son and daughter, who was stolen from us at the Twin Towers, the Pentagon, and here in this Pennsylvania field. We honor their sacrifice by pledging to never flinch in the face of evil, and to do whatever it takes to keep America safe. (Applause.)
Seventeen years ago, your loved ones were among The Forty of Flight 93 — the 40 passengers and crewmembers onboard the 8:00 a.m. United Airlines flight from Newark to San Francisco. They were men and women from every background. They were young people returning from visiting family, moms and dads on business trips, and friends going and coming from birthdays and weddings.
They boarded the plane as strangers — and they entered eternity linked forever as true heroes. (Applause.)
Soon after takeoff, Flight 93 was hijacked by evil men bent on terror and conquest. Passengers and crewmembers began using their phones to call home. They learned that two planes had already crashed into the World Trade Center in New York City.
Immediately, those onboard Flight 93 started planning a response. Sandy Bradshaw, a flight attendant, called her husband and told him they were in the back of the plane preparing hot water to throw onto the hijackers. Passenger Jeremy Glick explained the plan to his wife and said, Stay on the line. Ill be back.
The passengers and crew members came together, took a vote, and they decided to act. At that moment, they took their fate — and Americas fate – back into their own hands.
In the last 20 minutes, many placed their final calls home, whispering those eternal words: I love you. Some said the Lords Prayer. And then they bravely charged the cockpit. They attacked the enemy. They fought until the very end. And they stopped the forces of terror and defeated this wicked, horrible, evil plan.
Flight 93 crashed yards from where we stand, just 20 minutes flying time from the United States Capitol.
Through their sacrifice, The Forty saved the lives of countless Americans, and they saved our capital from a devastating strike.
In the days after the attack, tens of thousands of fire fighters, police officers, and recovery workers traveled to New York and Arlington to crawl through the rubble in search for survivors.
There were prayer vigils, memorials, and charity drives all across our nation.
Here in Shanksville, many of you raised up the first memorial – a wooden cross, a chain-linked fence, mementos and tributes pouring in, and dozens and dozens of American flags.
A piece of Americas heart is buried on these grounds but in its place has grown a new resolve to live our lives with the same grace and courage as the heroes of Flight 93.
This field is now a monument to American defiance. This memorial is now a message to the world: America will never, ever submit to tyranny. (Applause.)
Since September 11th, nearly 5.5 million young Americans have enlisted in the United States Armed Forces. Nearly 7,000 service members have died facing down the menace of radical Islamic terrorism. (Applause.)
Today, we also think of the more than 200,000 service members now serving overseas. And we think of every citizen who protects our nation at home, including our state, local, and federal law enforcement. These are great Americans. These are great heroes. We honor and thank them all. (Applause.)
As Commander-in-Chief, I will always do everything in my power to prevent terrorists from striking American soil.
Here with us today is Dorothy Garcia Bachler. Her husband Sonny was one of the passengers on Flight 93. On September 11th, 2001 — just over a month after their 32nd wedding anniversary — Sonny was on his way back from a business meeting. He called Dorothy — who he loved so much — called her on the plane and uttered her name before the line went dead silent.
In the days after the attack, Dorothy told the investigators there was only one thing she wanted from this field: her husbands wedding ring. They would know it by the inscription etched inside. All my love, it said, followed by the number 8/2/69 – the date of their anniversary. The officers — great people — promised to try. But in this field of wreckage, it seemed certainly impossible.
Dorothy began to pray, and she asked her friends to do the same. Days went by, then months. Still no ring. A week before Christmas, on December 19th, she heard a knock at the door. Two officers were standing with a — really beautiful to her — she saw it was so beautiful; she knew what was happening — a beautiful, small white box. Inside it was a wallet, a luggage tag, a drivers license, a small bag with the wedding ring inscribed with those three precious words: All my love.
Those words echo across this field. And those words tell the story of 40 men and women who gave all their love for their families, their country, and our freedom.
To Dorothy, and to every family here today, America will never forget what your loved ones did for all of us. (Applause.)
Earlier this week, you dedicated the final part of this memorial: the Tower of Voices. Standing at 93 feet tall, the Tower of Voices is now the first structure visitors see when they come to this now sacred ground. It will hold 40 beautiful chimes that ring throughout these fields — each a unique note, but all in perfect harmony.
Every time we hear those chimes playing in the wind, we will remember The Forty. We will remember their faces, their voices, their stories, their courage, and their love.
And we will remember that free people are never at the mercy of evil because our destiny is always in our hands. (Applause.) Americas future is not written by our enemies. Americas future is written by our heroes. (Applause.)
As long as this monument stands, as long as this memorial endures, brave patriots will rise up in Americas hours of need, and they too will fight back. (Applause.)
Seventeen years ago, forty incredible men and women showed the whole world that no force on Earth will ever conquer the American spirit. We treasure their memory. We cherish their legacy. And we ask God to forever bless the immortal heroes of Flight 93.
Thank you. God bless you. God bless the families. And God bless the United States of America. Thank you very much. (Applause.)
There is a new Irish political party emerging in the Republic of Ireland to promote leave the EU, which was inspired by the successful Brexit movement. Theresa May has really messed up the entire BREXIT movement and at the same time, this has exposed Europe for what it really is – a power and money grab that has been resentful of the British probably from inception since without Britain, Europe would be speaking French when they stopped Napoleon and the German when they stopped Germany. Without Britain, Europe might not exist as it does today. Then add the Irish who saved civilization for the barbarians burned everything in Europe creating really the Dark Ages and it was the Irish monasteries who saved the old knowledge along with the Arabs.
So now we have IREXIT Freedom party, which has launched in Dublin who want wants Ireland to “take back control” from Brussels. The party plans to run candidates in next year’s European Parliament elections and the 2021 Irish general election. Meanwhile, the European Union is in “mortal danger” warns the budget Commissioner Günther Oettinger and has stated that member states are not complying with EU budget directives. He warned Ital will suffer huge penalties if it does not comply. In reality, we are looking at the occupation of Europe by the EU which conquered the continent with an idea rather than troops and guns as was the approach of Napoleon and Hitler.
There were more than 100 gold Roman coins discovered in a buried hoard in the Cressoni theatre in Como, north of Milan. What I have examined from the photographs supplied to me, is that this is a hoard from the virtual fall of Rome. The coins I identified were from the Puppet Emperor of Ricimer, a Germanic general who ruled Rome through puppet emperors going into the end of the Western Empire. His power emerged in 461AD until his death in 472AD. The official fall of Rome took place in 466AD. After Ricimer’s death, the Germanic King of Italy, Odoacer deposed the last Western Emperor Romulus Augustusin 476AD, which is considered to mark the fall of the Western Roman Empire.
The photographs of the coins I reviewed clearly show the puppet Emperor Libius Severus III (461-465AD) was rather common in the hoard. This established that the hoard is from this period forward meaning it was a stash place for someone during the fall of Rome. Obviously, the person did not live to come back to retrieve his coins. These coins are worth probably $1 million+ depending upon the emperors in this entire batch which might be discovered. It could possibly rise to at least the $2 million valuations.
Maxime Bernier PC MP is a Canadian businessman, lawyer, and politician, who is currently serving as Member of Parliament for the Quebec riding of Beauce, having been elected four times with a majority of the vote. He has pointed out that it is always the ordinary taxpayers who ultimately have to pay for all these benefits promised by the government. He has argued that the Conservative Party is not doing enough and that it’s just not worth it. He has characterized that people are voting for Trudeau with “rational ignorance” that will lead the nation into disaster. The Globe and Mailreported that 17% of Canadians said they were open to voting for a new conservative party led by Maxime Bernier. Politics is fragmenting everywhere and some see Bernier as Canada’s semi-version of Trump, although he has been a longstanding politician
Justin from Canada has drawn a line-in-the-sand during negotiations toward a U.S-Canada trade agreement. Justin has stated that any market negotiations must necessarily exclude the “Candian Cultural Industries”; those industries cover telecommunications and media. Justin will not allow any media competition within Canada.
On the Ezra Levant Show he is joined in a pragmatic discussion with Frank H. Buckley, Foundation Professor at the Antonin Scalia Law School, George Mason University, to discuss a recent appearance on the Canadian Broadcast Channel where he criticized the Liberals’ incompetence during the NAFTA negotiations.
Chairman of the Council Of Economic Advisers, Kevin Hassett, participated in the White House press briefing to counter left-wing claims the current economy is simply a continuation of trends.
Kevin Hassett described former President Obama’s notion “laughable” and presented a series of intuitive trend charts showing how Obama’s economic trend was downward. The election of President Trump resulted in a “statistically significant” upward deviation and inflection in the graphic trends charts.
Mr. Hassett cogently goes through ISM Purchasing Managers’ index, durable goods, capital spending, employment and other statistics before and after Trump’s election date to display how ‘America First’ MAGAnomic policy has reversed years of poor economic performance.
QUESTION: Mr. Armstrong; You are a history buff. Who was the richest person in ancient times? Has there ever been a trillionaire?
PD
ANSWER: The Roman Emperor August. He is believed to have been worth in current dollar terms nearly $5 trillion. The only other person to have reached the trillion dollars net worth status was King Solomon of Judaea. After Octavian/Augustus defeated Marc Antony and Cleopatra, he then possessed the entire wealth of Egypt. In this respect, the wealth really did belong to him. Some have attributed the entire wealth of nations conquered and argued that Genghis Khan was worth probably 100 trillion dollars. However, the Roman system was rather different. Even taxation for a governor of a province would be owed by the governor to the state so whatever he would collect fell to him personally.
Marcus Licinius Crassus was perhaps one of the richest private men in Roman history. He amassed an enormous fortune through real estate speculation buying confiscated property seized by Marius from the supporters of Sulla. Crassus’s wealth is estimated by Pliny at approximately 200 million sestertii. Plutarch says the wealth of Crassus increased from less than 300 talents at first to 7,100 talents. An Attic (Greek, Athens) talent was the equivalent of 60 minae or 6,000 drachmae. A silver Drachm was generally 15mm in diameter with a weight of 4.20 grams. In Roman terms, this was about 26 kilograms (57 lb). If we take Plutarch’s measurement of wealth, that would be 42.6 million denarii.
A Roman soldier earned 225 denarii a year. Today, the average soldier in the US army earns $48,538 per year. That would approximately be $9.189 billion. If we take Jeff Bezos who is reported to be worth $164 billion based upon his stock in Amazon, that works out to the annual salary of 3.4 million soldiers compared to Crassus’ worth being 189,333 soldiers. However, the real difference is that Crassus’ wealth is cash whereas Bezos’ wealth is the current value of a stock. If he tried to sell it for cash, the value would be significantly less.
Crassus’ son, Publius Licinius Crassus (c 86BC – 53 BC), served under Julius Caesar. He did issue coins during the Republic as a “moneyer” who was a person authorized to issue the coins during the Roman Republic. The Senate actually controlled the quantity of money to be produced. There would be a “State of the Union” type of address to the Senate where they would be given the account of money on hand and what they expected the annual expenses would be. The Senate would then authorize the number of coins to be issued that fiscal year. The Quaestors handed the raw bullion and they would turn that over to the official who was the “moneyer” for that year. The moneyers would decide on the design to be issued which often celebrated his ancestors. The coinage would be struck and then handed back to the Quaestors for the expenditure of the government. The office of a moneyer continued into the Imperial period.
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!
This is a library of News Events not reported by the Main Stream Media documenting & connecting the dots on How the Obama Marxist Liberal agenda is destroying America
Just when you thought President Recep Tayyip Erdogan was really off the reservation, he suddenly appears off the planet. Erdogan has appointed HIMSELF as chairman of Turkey’s Sovereign Wealth Fund and got rid of the entire management staff. It looks like Erdogan now thinks he can force the free market to do as he commands if he is also the trader for the Sovereign Wealth Fund.
There were more than 100 gold Roman coins discovered in a buried hoard in the 
Centinel2012 