The TTIP proposal is bought and paid for by the banks. Why? Pick up the rug and you will always find the dirt. The USA has been fining European banks vast amounts of money. The New York banks, especially Goldman Sachs, is shaking like a leaf that they could be hauled into European courts to pay for the collapse of Greek debt for starters. The main stumbling block with TTIP is how it has been written at the request of the bankers to prohibit any foreign country from suing a New York banks anywhere by New York City – where they own the judges today just as the Mafia use to during the Prohibition days.
Back in 1999, the ex-Goldman Sachs U.S. Treasury Secretary Robert Rubin said that crafting a deal that will let China into the World Trade Organization was “eminently doable.” Yes it was Robert Rubin who not only orchestrated the repeal of Glass Steagall, few people realize that he also opened the door so Goldman Sachs could even sell derivative time-bombs outside the USA. He managed to stuff into the World Trade Organization agreement, the financial services portion that placed the world at the door-step of Goldman Sachs.
This deal covered “95% of the global financial services market as measured in revenue. With this deal, 102 WTO members now have market-opening commitments in the financial services sector, including 70 improved offers in this round of negotiations. The commitments before us now encompass $17.8 trillion in global securities assets; $38 trillion in global (domestic) bank lending; and $22.2 trillion in worldwide insurance premiums. In insurance alone, US companies now have more than $200 billion in foreign premiums.” (Statement by Secretary Rubin and Ambassador Barshefsky Regarding the Successful Conclusion of the WTO Financial Services Negotiations 12/13/1997)
TTIP is now all about protecting the banks for lawsuits because they blew-up the world and seriously damaged the global economy. Under Ronald Reagan, the annual GDP growth was 3.5%. Obama will pray for 1.5%. Trading volume in the S&P500 as well as the velocity of money have crashed and burned ever since Rubin connived to repealed Glass Steagal giving birth to Transactional Banking. TTIP is by no means a real trade deal. It is one-sided and intended primarily to protect the New York bankers.
QUESTION: Everyone in the gold industry says you are wrong. The stock market will crash by 90% and gold will soar. Will you address that scenario just once?
ANSWER: I have answered this frivolous question countless times. This is the most bearish rally in stocks ever. That is why the stock market has kept rising. The shorts always have to buy back. Just look at the big hedge funds. Their performance has declined markedly because they have taken that typical view. I displayed how the Velocity of money peaked in 1998 and has been in a bear market ever since. Naturally, people believe what they want to believe and ignore anything that shows them to be wrong. Well now look that the ANNUAL accumulative trading volume in the S&P500. It too peaked in 1996. Volume finally bottomed in 2014 and is at last edging up. We expected the turn upward in 2015 as this was also 86 years from 1929 (8.6 * 10).
Even the speculative bets on the direction of currencies have also dropped to the lowest in years, while average daily trading among dealers in U.S. Treasuries is close to a seven-year low.
I’m sorry. But please explain to me how the stock market will fall to 10 cents on the dollar when there is no massive retail speculation? This is by no means 1929 with people jumping out of windows. You want to believe that so no matter what evidence I show you, you will say I am wrong and just ignore me.
There is something far more sinister at foot. Just keep listening to that nonsense since it makes you feel better. The rest of us will be reviewing the world economy to get a glimpse at just what the heck is really going on here that have confounded all the theories devised by classic thinkers.
Once Trump is elected this is the cabal that he will need to deal with and that will not be a nice exchange as I believe that will fight is ideas tooth and nail!
The New Jersey State Assembly has begun the pursuit of a constitutional amendment to guarantee pension payments for government workers over all other types of state spending. This would naturally include all politicians, which is why they are introducing it. Because spending on education, health, crime, environment, welfare etc. is not guaranteed by the Constitution and is subject to elimination to pay for the pensions of 800,000 current and former public employees, politicians want to amend the Constitution and that means property taxes will SOAR. This means the people of New Jersey have to stop this insanity for once; it is a constitutional amendment, that is it. They will rob everything you have as a constitutional requirement.
Come November, without explaining the seriousness of the issue, the New Jersey Legislature will put a proposed constitutional amendment on the ballot that would provide consistent state payments each year to the $79 billion New Jersey Pension Fund. The best advice is to sell your home and get out now. If this goes through, property taxes will explode as they did in Illinois and the value of your home will drop. Sell and rent, but do not own unless you live in a state like Florida or Texas.
Seven states have specific clauses in their constitutions that protect public employee pensions: Alaska, Arizona, Hawaii, Illinois, Louisiana, Michigan, and New York. We have already seen Illinois on the brink of bankruptcy. Illinois will be completely devastated. There is no hope whatsoever, for changing the Constitution at this point in the game would only apply prospectively. That means these states will see an explosion in taxes over the next four years and they may simply be forced into bankruptcy if they are unable to meet bond payments for pensions come first.
Well when a politician refuses to admit she ever made a mistake, what do you do, you go all the way. Believe it of not, Germany is creating Flirting Courses to help refugee men get lucky. Yes, taxpayer money is now trying to get the refugees lucky with German girls. So if you thought you have seen it all, the insanity never ends. There is always room for more when politicians are involved.
Meanwhile, in Munich, a beautiful city, one person has been killed and several were injured as an Islamist extremist wielded in a knife and attacked people in the rail station shouting “Allahu Akbar” (“God is great”) stabbing people randomly.
And BTW, now 2/3rds of Germans have had enough of Merkel according to the latest polls.
Protests broke out in Greece over the weekend in Athens and the northern city of Thessaloniki. The government is yielding to Brussels and has not figured out that this policy is destroying its own people and their future.
The government passed reforms that they hope will persuade lenders to release more financial aid. They are cutting pensions and raising taxes. The bankers stole the money, yet the people are being forced to surrender their future.
There is absolutely no future for Greece under such policies. Merkel’s hardline against the Greeks is the very reason she let the Muslims in. Merkel promised the German people that Greece would pay back what she lent it. To honor that promise, she has screwed Greece profoundly and is refusing to yield. Coming under intense criticism for her actions against the Greek people, she tried to boost her image by showing compassion to the Muslims and set off an economic invasion of Europe. This is just not going to end nicely. Her support in Germany has crashed and burned, falling below 40%.
“The Dollar Report” explores the role of Goldman Sachs on this issue and the fate of the euro moving forward.
Political instability is rising in Saudi Arabia. The Saudi king has fired his longtime Secretary of Energy and the head of the central bank has been replaced. The royal family is now fighting to sustain power.
The fall in the price of oil is having a political impact within the power structure of Saudi Arabia. Eventually, the rise in the dollar on world markets will force the peg to fail. As that develops, we should pay attention for this type of event may lead to a very serious political situation that could change the structure of government. The risks begin to build in June, October, and then next March.
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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