QUESTION: Mr. Armstrong; The Hong Peg is under fierce attack. You said at the Hong Kong WEC that the peg would break but not before 2018. Are we getting close?
See you in Singapore
PB
ANSWER: Yes. They are spending almost $2.5 billion per week to defend the currency. No peg will stand. This is a Monetary Crisis Cycle. We will be looking at this issue in Singapore. Welcome to the Monetary Crisis Cycle which is beginning right on schedule. Trading against peg can be the best-guaranteed trade of all. We will go over this for the attendees
Perfect timing today as Director of National Intelligence Dan Coats celebrates last Thursday’s swearing in ceremony of Michael Atkinson as Inspector General of the Intelligence Community.
Coincidentally, or not, last Thursday was the release of the IG Draft Report on the DOJ-NSD and FBI activity in the Clinton investigation; and coincidentally, or not, today DNI Dan Coats participated in planning a new investigative approach to review the Obama Intelligence Community’s engagements in political surveillance:
Via DNI – “Last Thursday, I had the honor of swearing in Michael K. Atkinson as Inspector General of the Intelligence Community after the Senate confirmed his nomination last Monday. Michael is the second official to hold this position since its creation in 2010.
Michael moved from private law practice to public service following the September 11 attacks, and he brings professional shrewdness and dedication to an oversight mission that must operate with integrity, accountability, and objectivity.
Michael joins the IC from the Department of Justice’s leadership corps, where he served as an Acting Deputy Assistant Attorney General and Senior Counsel to the Assistant Attorney General of the National Security Division. Ten years earlier, he served as an Assistant United States Attorney in the U.S. Attorney’s Office for the District of Columbia, including as Deputy Chief of the Fraud and Public Corruption Section until 2015 and then the Section’s Acting Chief from 2015 until 2016.
Before joining the U.S. Attorney’s Office, Michael was a trial attorney in the Fraud Section of the Criminal Division of the Department of Justice from 2002 to 2006.
I look forward to working with Michael in his new role and trust he will execute the statutory authorities of his position to the fullest to ensure there is not waste, fraud, or abuse in the IC—and to maintain the strength and integrity of our whistleblower program.”
Earlier this afternoon President Donald Trump hosted 2017 NASCAR Cup Series Champion Martin Truex Jr. and the Furniture Row racing team at the White House:
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WH South Lawn – 2:28 P.M. EDT – THE PRESIDENT: Come on up here. A lot of courage, driving those cars. A lot of courage. Good afternoon. Today, I’m thrilled to welcome the 2017 NASCAR Champion, Martin Truex Jr. That is fantastic. (Applause.) And, Sherry, thank you. But I’m going to be mentioning you in a little while, Sherry. Thank you very much. And the entire Furniture Row Racing Team to the White House. Thank you, Furniture Row. (Applause.) Thank you. Great job.
Martin, I have to say, your car looks truly amazing. In fact, I want to get in that thing and just drive it right away. Do you mind? (Laughter.)
MR. TRUEX JR: No. (Inaudible.)
THE PRESIDENT: But it is. It’s beautiful. It’s incredible.
I want to thank Secretary Steven Mnuchin — thank you, Steve; Deputy HHS Secretary Eric Hargan; and the VA nominee Robert Wilkie, who is going to do an incredible job at the VA with our veterans. Thank you. Thank you, Robert, for joining us at today’s event. (Applause.)
I also want to recognize the many great members of Congress here today. We have a lot of them. But I see, in front of us, is Richard Burr — Senator Richard Burr. And, Richard — hi, Richard. You know these people very well from North Carolina, I’ll tell you that. (Applause.)
Jim Risch. Jim. Hi, Jim. Thank you. Great lawyer. Joni Ernst from a very wonderful state. You know the state? Called Iowa. (Laughter.) You don’t win Iowa, you got a problem. Right, Joni? (Laughter.) Got a big problem.
Also Representatives Jim Banks, Andy Barr, Mike Burgess, Rodney Davis, Ron DeSantis. Where’s Ron DeSantis? He’s always helping me on television. He’s so great. Thank you, Ron. Tom Garrett, Paul Gosar, Glenn Grothman, Richard Hudson — Richard, thank you. David Kustoff, Doug LaMalfa, Patrick McHenry. Where’s Patrick? Patrick McHenry. I always say, he’s got the greatest name in politics. The great Patrick McHenry. Thank you, Patrick. Markwayne Mullin, Rob Pittenger, Bill Posey, David Rouzer, John Rutherford. Where’s John? John Rutherford. Thank you, John. Claudia Tenney, Kevin Yoder, and Lee Zeldin. Thank you. Thank you, Lee.
My good friend Brian France is here. He is doing a fantastic job. I’ve had him as my friend for a long time, Martin. You wouldn’t believe that. Right? Different sides, different states, slightly. But we liked each other right from the beginning. Brian. Where’s Brian? Brian, thank you very much for being here. Congratulations, too, on everything that’s happened.
Brian is the Chairman and CEO of NASCAR. And Brian has been with us since the beginning, like so many others who love NASCAR. And he’s been, really, a supporter right from the beginning. He said, “We support Trump.” And so I want to thank you very much, Brian. That was incredible. That meant a lot. Thank you. (Applause.)
Martin, I want to congratulate you — team president Joe Garony. Where’s Joe? Joe Garony. Crew Chief Cole Pearn — Chief, pretty tough job, right? How do you change those tires so fast, Chief, huh? (Laughter.) Are you born with that talent or can you learn it, or sort of both, right? If you don’t have it, forget it. Right? Great job. I watched that. It’s pretty amazing. And all of the crewmembers who brought this team to NASCAR Championship, and what they did was truly incredible. It was an incredible season. Just incredible.
The entire NASCAR field spent 2017 chasing 78. I’ll tell you, they chased him. I’d be watching; they’re always chasing you. You won eight races, including four wins in the NASCAR Playoffs. Throughout the season, you earned 19 top 5 finishes and led more than 2,000 laps. Does it get lonely being in front?
MR. TRUEX JR: No.
THE PRESIDENT: Not at all. Never, right? (Laughter.)
MR. TRUEX JR: It’s great.
THE PRESIDENT: I had a feeling he might say that, folks.
Thanks to incredible speed, lightning fast pit stops, and exceptional driving, this team stood alone among NASCARs many contenders.
Despite the 78 teams success, the 2017 season was not without challenge or heartache. Team owner Barney Visser, who could not be here today, had health issues that kept him away from the track during the last weeks of the season. And Barney is a fantastic guy.
And sadly, crewmember Jim Wildman Watson passed away just before the critical race at Kansas Speedway. With your hearts broken over the loss of a teammate, Martin, you and the guys rallied and won the race. They won it for Jim. And today, Jim is up there, right up there. And he’s looking down at you. And he’s very proud. Very proud. So that’s incredible. Incredible story. (Applause.)
I also want to take a moment to recognize the amazing Sherry Pollex. She is the love of Martins life. Sherry. Beautiful. Thank you. (Applause.)
As many of you know, Sherry has bravely battled ovarian cancer. She is an incredible woman. And, Sherry, your determination in the face of adversity has been an inspiration to millions of Americans who know what you’re going through.
You have endured extremely tough treatments with grace, and grit, and a tremendous and beautiful smile. You are Sherry strong. We’re praying for you, and we are deeply honored to have you here today. And Martin, I can tell you, is so proud of you. Thank you very much, Sherry. Thank you, (inaudible). (Applause.)
This incredible NASCAR team bonded through tragedy, drew closer together, and willed themselves on to the title. The motto was, Never give up. I’ve heard that motto before. That’s a great motto. You don’t lose with that motto.
Never giving up is the story of 78 team. It’s a story that will forever be told in NASCAR and NASCARs incredible history with this team.
As many of you know, NASCAR grew from the back roads of Americas South and the bright shores of Daytona Beach — incredible place — to become one of the worlds premier and most beloved sports. I love it. People love that sport.
Built by names like Allison, Earnhardt, Petty, Pearson, Waltrip, this lively sport reflects our national spirit and our can-do attitude. At every NASCAR race, you will see thousands of patriotic Americans, from the grandstands to the pit stalls, proudly waving our flag and roaring with joy at the words, “Start your engines.” (Applause.)
And I will tell you, one thing I know about NASCAR, they do indeed, Brian, stand for the playing of the National Anthem. Right? (Applause.) They do indeed. Somebody said, “Maybe you shouldn’t say that. That will be controversial.” I said, “That’s okay. NASCAR is not going to mind it at all.” Right, fellas? (Laughter.) They don’t mind it at all.
Fast cars, burnt rubber, and great NASCAR champions thrill the American heart and excite the American soul. It’s true. A lot of courage. And so, it is truly fitting that we celebrate NASCARs 2017 champions here today at the White House. It’s called the Peoples House.
Congratulations again to these great, great champions, and to all of NASCAR on yet another incredible season.
And with that, I am pleased to welcome to the podium the 2017 NASCAR Champion, driver of the number 78, Martin Truex Jr. Congratulations, Martin. That’s really great. Congratulations. Fantastic job.
MR. TRUEX JR: I’m going to keep this short. But what an honor to be here today. Thank you, Mr. President, for having us, for having our whole entire team to represent the sport of NASCAR. My good buddy, Johnny Morris, from Bass Pro Shops, that has been a big part of my career to get me here.
But just really proud to be here today to represent the sport, to represent our millions of fans out there across the world. And I brought you a special gift I’d like to present right now. So this is a replica of the exact helmet I wore, which is a very special helmet to me, with a special paint job, with some special moments from our team, Sherry and I together, and some of the great accomplishments we had together.
THE PRESIDENT: That’s beautiful. Thank you. (Applause.)
MR. TRUEX JR: For you. Thank you very much.
THE PRESIDENT: Thank you very much. Let’s get a picture. Come on, Sherry. Thank you, darling. Thank you.
MR. TRUEX JR: Thank you so much. What an honor.
THE PRESIDENT: Thank you everybody. It’s been just a great honor. I’m a big fan. And, Martin, this is beautiful. And maybe if the team and the team members could come up, and we’ll get a big picture up here. The crew, come on up. Come on. Come on up. That’s beautiful. Bass Pro Shops. (Applause.)
That’s great. Thank you everybody. Thank you. Thank you very much. Let’s get a picture.
Economic security is national security. “Economic growth, national security, those are the Presidents’ two most important priorities” ~ Secretary Mnuchin.
Treasury Secretary Steven Mnuchin discusses the ongoing trade negotiation with China and the specifics of sector-by-sector agreements in principle. The overall approach by the Trump administration is to balance the trade relationship through opening of Chinese markets to U.S. exports and retain stability within U.S. manufacturing sectors.
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The dragon is in the details…. and that’s where you find slayer-Secretary Wilbur Ross!
After over a year of discussions and structured way-points, China came into last weeks U.S. trade talks with outstretched steel fists. The delegation they sent to the negotiating table were some of the most loyal and die-hard communist leaders within their national economic team.
It was obvious China is projecting its interests in dragon-mode knowing they are dealing with an entirely different administration than they faced before.
President Trump uses the point of “deficits” because it has a familiar catch and understanding with the U.S. audience. However, President Trump knows the real issue is the amount of domestic production -vs- the amount of imported foreign goods. If the Chinese team frame their analytic offers from deficit reduction pitches, the actual deals will never materialize.
President Trump, Commerce Secretary Wilbur Ross, Treasury Secretary Steven Mnuchin, U.S. Trade Rep. Robert Lighthizer, and Trade Adviser Peter Navarro are looking at sector by sector trade issues. It is not simply an import-export equation; it’s about a longer outlook and more balanced and stable manufacturing base.
President Trump is not focused on enhancing interdependency models (deficits), he is looking at expanding independence models sector by sector. Can this sector thrive independent of a need for imported material (raw good, part, service or intellectual property)?
The U.S. goal is for each individual sector (goods or services) not to be necessarily dependent or co-dependent on international import. This America-first approach reduces risk exposure and enhances investment perspectives favorably toward the U.S. by creating long-term economic stability.
Washington, D.C. – 10:51 A.M. EDT – THE PRESIDENT: Well, thank you very much. And good morning. I want to thank all of you and our distinguished guests for joining us today for a ceremony like few will ever have again — this is a very special one — including Vice President Pence, Secretary Pompeo, Secretary Mnuchin, Secretary Chao, Secretary Perry, Secretary Nielsen, Director Coats, and my nominee for the VA Secretary, who will do a fantastic job, Robert Wilkie. Thank you very much.
I want to give a special thank-you for being here to Chairman and Senator Richard Burr. Thank you very much, Richard. And a very courageous man — he’s courageous — Congressman Devin Nunes. Thank you very much, Devin, for being here. Appreciate it.
Most especially, I want to thank you, the dedicated men and women of the Central Intelligence Agency. It is a true honor to stand here today before the most elite intelligence professionals on the planet Earth. Nobody even close.
You face down our enemies. You protect our families. You stand and watch over our great nation. You don’t do it for fame or fortune or glory. You do it for your country. America is forever grateful. Thank you very much.
We’re here today for the swearing-in of a very special person, your new CIA Director, someone who has served this agency with extraordinary skill and devotion for 30 years — Gina Haspel.
Gina, congratulations. There is no one in this country better qualified for this extraordinary office than you. By the way, if you don’t agree with that, please let me know now before it’s too late, okay? (Laughter.) Immediately. Have to do it quickly.
You live in the CIA, you live the CIA, you breathe the CIA. And now you will lead the CIA. Congratulations. (Applause.)
Okay, that mean we’re keeping her, right? (Laughter.) That was — that’s what we were waiting for. They love you. They respect you. They respect you, too.
A native of Ashland, Kentucky, Gina’s father served in the U.S. Air Force. She spent much of her childhood overseas. From a young age, she was instilled with a deep love of our country, which, combined with a thirst for adventure — that led her to the CIA.
Throughout her storied career at this agency, Gina has truly done it all. She’s completed seven field tours, served as a case officer, recruited assets, run stations, captured terrorists, and disrupted networks that proliferate deadly weapons. They send those weapons all over, and you catch them. You’re going to get even better now — better than ever before. You’re the best. You’re going to be better than ever before, and we’re getting you the resources to do it.
Our enemies will take note: Gina is tough. She is strong. And when it comes to defending America, Gina will never, ever back down. I know her. I spent a lot of time with Gina.
Gina played a crucial role in our fight against al Qaeda. Her first day in the job at the CIA’s Counterterrorism Center was September 11th, 2001. And she tirelessly hunted terrorists for the next three years. She went on to become Deputy Director of the National Clandestine Service, and most recently Deputy Director of the CIA.
During her decades of distinguished service, Gina has earned the George H.W. Bush Award for Excellence in Counterterrorism, and the Intelligence Medal of Merit. Most importantly, she has earned the universal respect, admiration, and trust of her colleagues here at the CIA, throughout the government, and all over the world. Gina is truly respected.
And today we also mark another proud milestone, as Gina becomes the first woman ever to lead the CIA. (Applause.) That’s big. That’s big. That’s big.
Now Gina will lead this agency into its next great chapter. Gina assumes the role of Director at a crucial moment in our history. We are reasserting American strength and American confidence. And, by the way, America is respected again. You see that.
Instead of apologizing for our nation, we are standing up for our nation, and we are standing up for the men and women who protect our nation. We will be counting on you to confront a wide array of threats we face, and to help usher in a new era of prosperity and of peace.
Since the CIA’s founding more than 70 years ago, its courageous operatives have combined ancient craft with modern marvels to achieve unsung victories in every corner of the globe. I see what you do, I understand what you do. And it’s incredible.
Marked on the hallowed walls of this building are the stars honoring the CIA’s fallen heroes who gave their last breath for our nation. Though many of their names remain secret, their stories of service and sacrifice and daring will live for all time.
Today, we think of them and we honor them by pledging that the patriots of the CIA will have the tools, the resources, and the support they need to accomplish their incredible, complicated, and oftentimes very dangerous mission. The exceptional men and women of this agency deserve exceptional leadership. And in Gina Haspel, that is exactly what you’re getting.
Director Haspel, congratulations again. I know that you will thrive as the Agency’s Director and help keep our nation safe, and strong, and proud, and free.
Good luck. God bless you. And God bless the men and women of the CIA. And God bless America.
And I just want to thank everybody in this room for doing such an incredible job, and for giving Gina that unbelievable support that she needed. It took courage for her to say “yes” in the face of a lot of very negative politics and what was supposed to be a negative vote. But I’ll tell you, when you testified before the committee, it was over. There was not much they could say. There was nobody more qualified than you. And you are going to do a fantastic job, Gina. Thank you very much. Thank you, Gina. (Applause.)
So with that, I’d like to ask our great Vice President to administer the oath of office. Thank you all very much. Thank you. (Applause.)
The Oath of Office is administered.)
THE VICE PRESIDENT: Congratulations. (Applause.)
DIRECTOR HASPEL: Good morning, everyone. And thank you, Mr. Vice President, for administering the Oath. Let me begin by thanking President Trump for joining us today and for offering those kind words. Mr. President, it means a great deal to me and to the agency that you made time to come out to Langley for this ceremony.
THE PRESIDENT: Thank you. Thank you. (Applause.)
DIRECTOR HASPEL: You have placed enormous trust in CIA throughout your presidency. And the men and women of CIA do not take that for granted. So thank you, Mr. President, for your confidence in me and your steadfast support of our mission and our people.
I am truly honored to have this opportunity to lead the best workforce in government. It has been nearly 50 years since an operations officer rose up through the ranks to become the Director. And after the experience of the last two months, I think I know why that is. (Laughter.)
I look out in the crowd today and I see a strong representation of the CIA’s past, present, and possibly even the future. I am looking at two young ladies, special guests, who join us today. CIA has been more than a career. It has been, for me — like many of you — a calling.
In this building and around the world today, there are officers carrying out a vital mission, sometimes at great personal risk. I want each of you to know that I took on the position of director because I want to represent you, as well as lead you.
My years at CIA have rewarded me in ways that I could never have imagined, and I will continue to give it and you my all. There are countless role models and mentors who have paved the way for me to stand here today. As the Director, I want the current CIA leadership team to be role models and mentors for our next generation of officers who will walk the streets of far-flung capitals and work the late nights here at headquarters and abroad.
For me, being Director is about doing right by all of you so that you have the tools and support needed to carry out our sacred mission.
Every CIA officer has taken the same oath that I just did to support and defend the Constitution against all enemies. And today I recommit that I will do everything in my power to justify the faith that President Trump and the American people have placed in us, and to make sure that CIA continues to provide the intelligence needed to keep our country safe.
I would be remiss if I did not also note the tremendous pride I take in being the first woman to serve as Director. I would not be standing before you today if not for the remarkable courage and dedication displayed by generations of OSS and Agency women in roles both large and small, who challenged stereotypes, broke down barriers, and opened doors for the rest of us.
I am deeply indebted to them, and I’m extremely proud to follow in their footsteps and to carry on their extraordinary legacy. I stand on the shoulders of heroines who never sought public acclaim but served as inspirations to the generations that came after them.
I also want express a special thank-you and welcome to Eliza and Zoe, who have joined us today. The notes from these two young ladies, ages six and seven, sent to me sat on my desk these last two months and motivated me daily. In their own words and pictures, they expressed their excitement about the opportunity my nomination represented. And to Eliza and Zoe, I would simply say, we did it. (Applause.)
Lastly, allow me just a moment to talk about the future of this agency. A little over a year ago, Secretary Pompeo first spoke to me about becoming the Deputy Director. At that time, he said, “CIA is the world’s preeminent intelligence service, and I want to make sure we position it to stay that way.” Mike was right; we are the best. And our challenge is to always be the best.
We cannot rest on our laurels. We must learn from the past, but we cannot dwell in the past. We must constantly learn, adjust, improve, and strive to be better. We demanded of ourselves, and America deserves nothing less.
That includes boosting our foreign language proficiency, strengthening our partnerships overseas and here at home, and deploying more of our officers to the foreign field. We are a foreign intelligence service, and our workforce and our priorities need to reflect that.
We also need greater focus and effort on the strategic threats our nation faces, as well as the persistent threat from global terrorism. As always, the key to our success against these challenges will be empowering the incredible talent that resides within CIA.
The men and women who serve here are a national treasure — from the operations officers who collect our intelligence, to the analysts who contextualize and evaluate it for senior policy makers, to the support officers who enable every aspect of our mission, to the scientists, engineers, and cyber specialists who give us a decisive edge over our adversaries.
The only way to confront these threats is to forge ahead with determination and with the same expeditionary spirit that has defined our agency since its founding more than 70 years ago. I am profoundly honored to lead you in that fight and to work alongside each one of you as we advance our vital mission.
So, Mr. President, thank you again for giving me the opportunity to serve, to represent the men and women of CIA, and to carry out the critical work of helping protect our country, our people, and our way of life. Thank you very much. (Applause.)
The outrageous tax of $275 per employee for companies that do more than $20 million in business annually by the city of Seatle for the claimed housing of homeless people is really over the top. It’s not just Amazon, there are a number of businesses being hit. Cities are becoming the place to avoid. This is how they die. They just keep imposing more and more taxes without end so it simply becomes less burdensome to pick up and leave. You typically have parking fees, aggressive tickets by police, and fines of every sort possible all as a means to raise revenue. Then, because of the tax, Amazon put a hold on its development of offices there. Because they were considering not opening up in Seatle, some called this extortion and called for criminally charging Amazon. So if you object to new taxes, that is now a criminal offense? That really want you to move to such a place!
They always impose a tax with some noble label. New York City originally imposed taxes on cigarettes because they really wanted to help people quit. When they did quit and switched to electronic cigarettes, the tax revenue decline and so they looked at then taxes electronic cigarettes. Once they get their hands on revenue, they use it for whatever they desire and they never give it back.
COMMENT: I attended your 2015 WEC where you laid out the future for the euro. I was skeptical, to say the least. All these people constantly focus on the dollar. Then your model gave buy signals on the euro and you said it would then rally into 2018 and that could form the slingshot down. It came close to your target and now here in France, the government has warned of a euro crisis blaming Italy. I attended your euro conference in Frankfurt and again you explained why the euro would decline.
I have come to understand that your model is really split into timing levels. I think you need to explain that better because the rest of us are used to what you would call I guess a flat forecast that is not relevant to the time. Just a suggestion. But a lot of people do not catch on that you can forecast the long-term yet also provide the forecast for the short term counter-trend moves.
I can’t make Singapore but will be there in Orlando.
merci et bonne chance
PV
REPLY: Thank you for the perspective. You are probably correct. The very reason why we are one of the largest institutional advisers in the world is because we can forecast not just time, but distinguish the short-term from the long-term. I suppose it can get confusing when the long-term warns the euro is crashing and yet you have a 13-month rally which is also necessary to create the energy for the resumption of the decline. This is how the energy in a market is created for the opposite direction.
It is always the false counter-trend move that creates the energy to swing back the other way. We did elect a Quarterly Bearish Reversal at the end of the 1st quarter 2018. That confirmed the counter-trend rally was over. On the weekly level, it was 57 weeks up to the February high. There we were electing Weekly Bullish.
Take gold. Here too the line the model drew was 1362 on a monthly level and 1341 on a quarterly. Gold would crash at the end of every quarter to avoid a buy signal. Likewise, it just could not get through the 1362 number. This also confirmed the position with the dollar that was reflected in the Euro.
You are correct that 99.9% of forecasts are flat one-dimensional. Our model enables big players to sort out the small counter-trend moves from the point where you have to flip a major portfolio in the billions. How you trade personally and for huge size is totally different. OPINION will not cut it. It has to be black and white. We must reduce it to a specific number and then the targets in time.
I suppose you are correct. I do not explain this difference between our forecast and everyone else in sufficient detail over the course of events.
You are a clever man and all the best to you. I am a 43 yr old man that is still looking for his way in life. In short, knowing what you know, what business would you strive to get into?
I am purely looking for some sound advice as everyone is busy doing what they are doing. Basically, any knowledge you would part with would be excellent, as I have no father figure to turn to.
Confused, is the word.
I know you are not a counselor, however, what advice would you give to your kids etc?
All the best,
Charlie
ANSWER: First of all, you have to pick a field that interests you. If you enjoy what you do, you will be good at it. If you are asking what business to start, you have to pick a field that is new or has little competition. You obviously would not try to start a smartphone company when you have giants who dominate the field. If you have a revolutionary idea, then you can start that and look to be taken over by one of the big boys.
It is all about what you enjoy. The economy is turning toward technology. Learning skills in programming will be the leading industry for the decades ahead. Fields that a labor-intensive will survive. such a construction. However, services, in general, can suffer where computers can replace that sort of employment. Keep in mind that as governments raise taxes, they put the lower levels out of employment. This trend has also tended to hit the very high end as well.
As technology advances, it will always displace sectors of employment. The combustion engine led to tractors and farm equipment so employment fell from 41% of the civil work force in 1900 to just 3% by 1980. Service jobs are being replaced by the internet every day.
QUESTION: You originally said back at the 2015 WEC the first window for the monetary crisis and the collapse of the Euro could arrive by 2018 and then the cycle was extended into 2021 when the Euro finally elected a weekly bullish. So it appears correct that 2018 is the start as the Euro never reached your target but came close and the EU seems to be coming apart at the seams. Gold could never get through your 1362 number either so that too seems to have confirmed a false move extending your cycle into 2021. I understand that cryptocurrencies are really an asset class and not really a currency. Nevertheless, do you think that cryptocurrencies can survive a monetary crisis?
WN
ANSWER: The year 2018 was the start of the Monetary Crisis. We had a shot that this could all come undone in 2018. However, you are correct. All we achieved was a false rally with the Euro stopping just shy of our number and gold struggled admirably but could not get through 1362. There were many other markets also confirming that we are dealing with only the beginning of the crisis here in 2018 rather than the conclusion including the consolidation in the stock market without election any monthly bearish reversals. The monetary reset can arrive during the next window in time come 2021 if we get the dollar at new highs. Then the monetary system will crack. However, this could drag out to the third window which is of course 2032. That appears to be more the shift of the Financial Capital of the World to China at that time.
These are the turning points. The Reversals are the key which confirms or denies the trend. My opinion as to the future is still an opinion. I will say this. As long as cryptocurrencies are an asset class, then they will survive a monetary crisis along with all other assets. Assets are the ONLY thing that survives the collapse of a currency. So be careful of what you wish for.
The new currency issued after the German Hyperinflation, Rentenmark, was backed by real estate. Tangible assets are on the opposite side of whatever the currency is in use. When the stock market rises, the purchasing power of the currency declines. When the stock market crashes, then the purchasing power of the currency rises. They are on OPPOSITE sides. Do you really want a cryptocurrency to be a currency or asset? Most people pitching them are really explaining an alternative asset – not a currency.
Cryptocurrencies are a new asset class. Just look at them from that perspective. You are asking a lot if we are talking about replacing the monetary system with private money. That is just not likely in the cards. Nonetheless, we will probably end up with a new RESERVE currency used among nations. That is still unlikely going to be a world currency used by the people in every country. What we use for currency can be cryptocurrencies of some sort ONLY if we see the political powers crumble and fall.
None of the big IT companies are doing anything with Blockchain. That may change in the future and it may even be replaced by something even better. I draw the line between an asset class and a replacement currency for the dollar with a very thick marker. You would have to completely destroy the system as is for that to even come into play. Is that what people are praying for? All pensions gone, banks destroyed and you think this cryptocurrency will be the only thing to survive? You go that far the ONLY money becomes FOOD! We are still in mid-game and we are not yet close to the end-zone.
For now, cryptocurrencies are not a currency at all, they are a new asset class. Just because they are called “currency” does not make them an actual currency. If they are not widely accepted in payment as legal tender, then they are not yet ready for prime time. When you go online to buy anything, they display the standard payment methods – not BitCoin.
You buy insurance for healthcare, fire, accident, but when it comes to death insurance, they flipped the name to life insurance. They could not sell “Death Insurance” for people would respond that they were not ready to die and it was seen as bad luck to buy death insurance because you may invite such an event. To sell “Death Insurance” they called it “Life Insurance” and then everyone would buy it and brag how much they had. Calling BitCoin a “currency” does not make it one. It is still an asset class and for it to be a currency, it would have to respond OPPOSITE of assets, not trade with them.
Cryptocurrencies are an ASSET CLASS for trading. Do not marry the trade. Treat them as any stock and you will be fine.
COMMENT: I think I now see the light. It has been my linear thinking that has blinded me. Gold rallied and failed as was the case with the euro, British pound and so on. Putting them all together is why who said that the euro would rally because they all were indicating a pause in the trend of the dollar. If they all crash together, I can see the dollar rally easier for they are all lined up the same way on your model looking at the reversals. I hope you elaborate on this in Singapore.
SHV
REPLY: Yes you are starting to see the light. You cannot have just one market rallying beyond the reversals without the others. Everything is linked. You have to begin to look at the world as a hedge fund manager to see what others cannot. You did not elect a key Monthly Bullish in any of these markets. That is the key. The same model allows us to see the critical point across the financial spectrum and in that instant we can listen to the markets telling us the future.
Opinion means nothing, including mine. ONLY the model allows us to see everything in a black & white manner without prejudice. This is how we avoid Marrying the Trade!
Yes, at the Singapore WEC I will cover this interlinking process so the future is revealed by the markets, not my opinion.
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
QUESTION: Mr. Armstrong; The Hong Peg is under fierce attack. You said at the Hong Kong WEC that the peg would break but not before 2018. Are we getting close?
Centinel2012 