President Trump speaks at a joint fundraiser in Utica, New York on behalf of GOP Congresswoman Claudia Tenney. The event marks Trump’s first visit to Upstate New York since being elected in 2016. Anticipated start time 5:45 – 6:00pm EST
UPDATE: Video Added
Fox News Livestream – Alternate Livestream #1 – GST Livestream Link
President Trump speaks at a joint fundraiser in Utica, New York on behalf of GOP Congresswoman Claudia Tenney. The event marks Trump’s first visit to Upstate New York since being elected in 2016. Anticipated start time 5:45 – 6:00pm EST
Fox News Livestream – Alternate Livestream #1 – GST Livestream Link
President Donald Trump Delivers Remarks and Participates in a Signing Ceremony for H.R. 5515, the “John S. McCain National Defense Authorization Act for Fiscal Year 2019” at Fort Drum, New York. Start time 2:30pm EST
WH Livestream Link – RSBN Livestream Link – Fox News Livestream Link
Once again, tens of thousands of Romanians have taken to the streets demanding the end of corruption in government. At least 450 people were injured in clashes with the police who are still defending the government against the people. We are looking at a worldwide epidemic of corruption in government that has known no bounds. This is part of the very reason why Trump was able to beat every career politician. But like Erdogan, those in power refuse to ever admit that they are the reason for the political changes.
Unfortunately, in the United States, we not only have the police defending the government, we also have the press like CNN, Washington Post, and the New York Times. All they do is try to overthrown Trump instead of looking at the system and WHY he was elected to begin with. They are all supporting the inherent corruption because they like things as they are. What we are witnessing in Romania is also unfolding in Germany, Italy, France, Spain, Malaysia, and even in Britain. This is a worldwide political change in trend and we really have to begin to look at the trend and not just the face of Trump
Erdogan is shifting to Russia already. He will abandon the West all to retain power. Turkey was the critical lynch-pin for emerging markets. Many foolish banks ran to buy Turkey’s debt because they could earn 20% interest. The currency has fallen 25% in two days. We are looking at European banks taking major losses on Turkish debt. Trump has to stop his trade war. This is now about undermining the fabric of the global economy. Welcome to the beginning of the crisis that will end only with a monetary reset in the years ahead. Erdogan claims he has a plan to stabilize the lira but he offers no details. He fails to grasp the root problem – he has lost all confidence domestically and internationally to remain head of state.
Meanwhile, Erdogan is still focused on Syria. He is planning a summit with Russia on the 7th of September in the Turkish capital Ankara. This is to be a four-person summit, which Erdogan has proposed as a distraction for the collapse in the lira. He will limit the summit to Germany, France, Turkey, and Russia.
Methinks Maria Bartiromo is the only media person who has caught on to “the secret“.
Within her wording and presentation today, inside this interview Fox News Maria Bartiromo hints toward her understanding of the Trump trade strategy as it pertains to Mexico, Canada and ::cough:: NAFTA ::cough::
Nudge/Nudge – Elbow/Elbow – Wink/Wink – Say no more/Say no more!
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After the end of Round #6 (January 2018), it was obvious to POTUS Trump a NAFTA renegotiated deal was impossible. In March, 2018, Team Trump stealthily began moving in a different direction. In June,2018, Canada accidentally made the admission there were no ongoing talks between the U.S. and Canada. The reasoning is simple yet stunning.
Trade watchers, Wall Street experts, financial pundits and the entire media apparatus are missing what Team USA are doing right in front of their faces…. they’ve obviously never followed or studied Trump’s out-of-the-box problem solving when it comes to complex deals.
Without drawing any attention to the shift, Trump put NAFTA in the corner and began an entirely new bilateral trade discussion with Mexico. [ie. Forgetaboudit… just leave NAFTA over there; but let people think what we are doing is NAFTA]
Instead of following customary sequential steps: (1) waiting for endless NAFTA negotiations that can never be resolved; (2) and then announcing the NAFTA withdrawal; (3) and then dealing with the political fallout and financial backlash; (4) and then beginning bilateral trade discussions, etc. etc. Team Trump brilliantly and quietly strategized an end-around.
Team U.S.A. reversed the sequencing (but didn’t announce it).
Instead of beginning new, bilateral, comprehensive trade constructs after trilateral NAFTA is dissolved, they end the new, bilateral, comprehensive agreements with trilateral NAFTA being dissolved.
Ergo, no political backlash and no political influence. By the time anyone realizes NAFTA is dead – it’s moot. No formal trilateral NAFTA exit strategy is needed because new deals are already on the books.
The problems with NAFTA are systemic and there are too many political and multinational lobbyists conniving and scheming to retain the status quo. There are far too many political interests involved that are financially connected to the current NAFTA.
In essence, too many interests shouting outside the door for anyone at the table to hear a word the other is saying. Too much noise near the table for any reasonable new negotiations to take place…. So Trump took them to another building and no-one noticed they had left… Wall Street and K-Street are still shouting at the door.
Everyone thinks Trump is renegotiating NAFTA; that’s just what Team Wolverine want everyone to think… that allows the team maneuvering space. NAFTA has already ended, they just haven’t told anyone yet.
How can you not admire the sheer brilliance of how President Trump can guide his economic team through the byzantine labyrinth of DC politics; and end up with an entirely new set of deals that benefits the U.S. and shifts the entire economic sphere in favor of American interests; while no-one has the slightest clue how he’s doing it… yet he’s doing it right in front of their face.
This is infinite levels of winfinity.
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To winfinity and beyond!
Turkey has little hope of coming out of this in one piece. The pretend President-Dictator, Tayyip Erdogan, has come out and denied on Saturday that Turkey is in a currency crisis. Exactly how he can even say that is shocking. Nevertheless, he called a 25% drop in the currency a plunge that is just ‘fluctuations’ that have nothing to do with economic fundamentals. He blamed the United States calling the collapse in the currency ‘missiles’ of an economic war waged against Turkey. Trump in raising the tariffs against Turkey is understandable since the currency declined and that would make their exports cheaper. However, he is stepping in the wrong direction here for the collapse in the currency reflects the collapse in the CONFIDENCE with regard to Erdogan.
We are looking at the usual response of a dictator in trouble. Blame someone else and that is ALWAYS external. What comes next is a break with the West and an alignment with the East. He is NOT about to surrender power NOR will he accept blame for the economic conditions in Turkey. His power is all that matters and the people are always wrong in his mind.
This past week was a Panic Cycle and this should start to subside a little but this is hardly over. Turkey is in serious economic trouble and Erdogan will blame the United States and Europe – never himself. I have warned before that NATO should have pulled all missiles out of Turkey. That is rapidly approaching the point of no return.
QUESTION: Dear Marty:
I have been reading you for over a decade. I notice a change in your attitude towards Bitcoin/Crypto. Initially, you were completely against it, now you seem to be neutral. Has something changed? We now have Futures, CBOE is coming out with an ETF, every major bank is thinking of entering the space. The G20 will soon come out with a supportive statement.
Thank you,
YA
ANSWER: No. I regard this as an ASSET CLASS for trading. That is distinct and separate from the claim it is a currency. Even Hyun Song Shin, the economic advisor and research director of the Swiss-based Bank for International Settlements (BIS), told Bloomberg that Bitcoin and other cryptocurrencies are “far from maintaining a monetary system” and “just pretend to be real currencies “. On that score, he is absolutely correct. This is like expecting Recep Tayyip Erdoğan of Turkey to stand up and say he is wrong and his policies have been disastrous for Turkey and he will put the good of the nation before himself, or the same in Venezuela, or the religious leadership in Iran. Currencies move into hyperinflation NOT because of the rise in the quantity, but because of the collapse in CONFIDENCE, that then forces the increase in the quantity of money to pay the bills. I suppose it’s the question which came first? The chicken or the egg?
You have to separate reality from fiction. That does not mean that Bitcoin is not an asset class. It just is not a currency that has any real footing within the economy. So there is NO POSSIBLE WAY any government will allow a PRIVATE cryptocurrency to replace a national currency. That will NEVER happen. However, I have previously stated that governments want to ELIMINATE cash for tax reasons. Only about 4% of transactions today are in paper currency, to begin with. The bulk of our monetary system is already digital currency that does not exist. The pitch that cryptocurrency will circumvent central banks and governments is just absurd. You have to separate PRIVATE from PUBLIC. That is the issue against Bitcoin.
The commercial banks that are looking at it are for non-currency issues of the blockchain. Goldman Sachs is looking to a custodian to hold money for cryptocurrencies to make money. But the sales-pitch that Bitcoin will become the reserve currency, replace central banks, and eliminate national currencies is really way out there. The FAX machine was invented by the Scottish inventor Alexander Bain who worked on chemical mechanical fax type devices. Back in 1846, he was able to reproduce graphic signs in laboratory experiments. He applied and received a British patent #9745 on May 27, 1843, for his “Electric Printing Telegraph”, but it took more than a 100 years to actually become usable. Yes, you can see the future and no doubt you could envision sending photographs around the world back in 1843. There is just a huge gap between technology and its implementation. Back in the 1960s when integrated circuit chips first appeared, it was obvious we would shrink a computer to fit on a desktop. The problem was trying to figure out what people would do within. Later Microsoft, Lotus, etc., figured out how to use it and the computer age began for the mainstream. We are NOT there yet in cryptocurrencies any time soon.
Can the economy move to purely electronic currency? The answer is NO – not yet. We may still be looking at that well AFTER 2032. India and Sweden have found it impossible to get away from paper money. There is a large segment of the population that do not bank no less own a computer or even a smart phone. The EU passed a law calling it everyone has a “right” to have a bank account, which was really a step to try to move closer to an electronic currency. You are looking at the basic requirement of a generational shift. As the older generation dies out, money will become completely digital, newspapers will see their last print, and paper books may be found only in a museum. Things always change – but not as fast as people think. The DOT.COM Bubble was all about the rage of how the internet would replace stores. The prices got ahead of the reality. Eventually, the technology changes the system. But it always takes time. Eventually, new higher were made and a more solid market emerged – with TIME!
Cryptocurrencies are an “asset class” meaning they are tradable with futures. However, that is a far cry away from being an actual currency that is legal tender accepted everywhere including taxes. We have included it in the markets analyzed by Socrates for that very reason. It is an instrument to trade. Just don’t marry the trade
A Revolution is brewing not just in Turkey, but also in Iran. More than 100,000 people have taken to the streets chanting death to the dictator. The currency has simply collapsed as it moves into hyperinflation. Once again, as we see this take place, CONFIDENCE in the government is collapsing. This is the key to revolution. Once the people lose CONFIDENCE, then the game changes. That does not mean in either the case of Turkey of Iran that the government will just go into the light voluntarily. In both cases, the governments are really dictatorships and they will NOT relinquish power willingly anymore that we see in Venezuela. As long as the police and the army support dictators, then regime change WILL NOT come peacefully. In both cases, they will even resort to creating wars as a distraction to retain power.
The more chaos that unfolds, the stronger the US dollar becomes. Capital will ALWAYS flee from wherever the war unfolds. In this case, do not consider that these governments will simply surrender power voluntarily. They will both turn toward Russia for help and portray their political crisis as a CIA plot. That is rather absurd but it will surface anyway. This is standard behavior whenever a currency moves into hyperinflation as the CONFIDENCE in the immediate government collapses. This is WHY the people need guns. Take the guns away from the people and there is never an ability to defend against a government which is desperately trying to retain power as we see in Venezuela
In what can only be described as the nonsensical rantings of an ideologue who refuses to even fathom the geopolitical Trump changes around him, Turkish President Recep Erdogan writes an op-ed in the New York Times to tell Americans POTUS Trump, and like-minded allies, are bullying/destroying the Turkish economy because his authoritarian regime has imprisoned an American pastor.
DUH!
This is not difficult to figure out. Release American pastor Andrew Brunson, and President Trump will consider stopping. Keep the U.S. citizen detained and President Trump will continue destroying the Turkish economy. This is not hard to figure out once you accept the United States is unapologetically going to target any nation that targets American citizens.
President Erdogan is finding out that Brunson is the most expensive hostage in the history of hostage taking; however, with POTUS Trump in command it’s the kidnappers paying the price…. funny how that happens.
Further into Erdogan’s diatribe he warns: “a failure to reverse this trend of unilateralism and disrespect will require us to start looking for new friends and allies.” Again hilarious.
DO IT. Please, DO IT. Leave NATO and the U.S./Europe is no longer constrained to confront the extremist duplicity of Turkey. Remember, when Turkey shot down the Russian fighter jet in November 2015?… then ran behind the skirt of NATO for protection against Russian retaliation. Remember that?
Recep Erdogan now threatens to form closer relationships with Russia as retaliation for the way the U.S. and NATO allies are confronting his duplicity. Hollow threats. Remember when the Russian Ambassador to Turkey was killed by a Turkish jihadist shouting allahu akbar?
Between extremist Turkey shooting down the SU-24 (’15 )and then extremist Turkey killing the Russian ambassador (’16), it’s not like Russia would not welcome the opportunity for greater, shall we say, “influence”, with an intended goal of retribution.
From the Op-Ed:
…[…] “In recent weeks, the United States has taken a series of steps to escalate tensions with Turkey, citing the arrest by the Turkish police of an American citizen, Andrew Brunson, on charges of aiding a terrorist organization. Instead of respecting the judicial process, as I urged President Trump to do in our many meetings and conversations, the United States issued blatant threats against a friendly nation and proceeded to impose sanctions on several members of my cabinet. This decision was unacceptable, irrational and ultimately detrimental to our longstanding friendship.” …
Embrace the pain Erdogan; it is not going to stop.
…”He’s horrid, just horrid; there’s no telling what that, that man, will do next…. and the mean tweets are, well, just too much…. Too much. But still… yet… it, his people seem to like him more than our own people seem to like us… how can this be? America this, America that, always with this America-First nonsense.. He’s horrible”… “Junker even got smashed this morning because he couldn’t calm his nerves again. Poor man”… “The beast just terrifies all of us” … “Shhhh, I think he’s coming”…
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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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