Posted originally on Sep 2, 2024 By Martin Armstrong
In Germany, the policies of open borders have caused extreme violence to give life to the Alternative for Germany (AFD) far-right party. They won a state election for the first time in post-World War II Germany in the country’s east on Sunday. They appear poised to finish a very close second to mainstream conservatives in a second vote. It has been an unpopular Chancellor Olaf Scholz’s national government supporting war with Russia and flooding the country with immigrants without skills.
Even a new party founded by a very prominent leftist also made a very strong impact, demonstrating what our computer has been forecasting in 2024 as 60% of the world has gone to the election – throw the bumps out. Chancellor Olaf Scholz’s unpopular national government obtained incredibly weak results because these policies, which the World Economic Forum instigated, are failing. People who do not like this agenda of:
You will own nothing; SHUT UP and be happy.
What people call the far-right AfD is coming closer by the day to the mainstream. In Thuringia, it won 32.8% of the vote, beating the traditional center-right Christian Democratic Union, which gained only 23.6%.
What we see for a Trump victory is merely a continuation of this global trend.
Posted originally on Sep 2, 2024 By Martin Armstrong
Eisenhower Warned us:
“In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the military industrial complex. The potential for the disastrous rise of misplaced power exists and will persist.
We must never let the weight of this combination endanger our liberties or democratic processes. We should take nothing for granted. Only an alert and knowledgeable citizenry can compel the proper meshing of the 1mgc industrial and military machinery of defense with our peaceful methods and goals, so that security and liberty may prosper together.”
Posted originally on Sep 1, 2024 By Martin Armstrong
QUESTION: Mr. Armstrong, you have studied tactical warfare over the centuries. I was first introduced to you at Citadel in the eighties when they discussed your work and the Economic Confidence Model. Since that was a military college, they would never have introduced me to your work if you did not understand military tactics. I know you regard that as an opinion, but perhaps now is the time to speak up since you are qualified in this field. There is a question arising over Ukraine’s invasion of Russia, and most seem to say this has taken Zelensky’s allies by surprise. I do not see that as being possible. Is Russia as weak as some are saying? Or is this a brilliant trap? I would love to hear about your military tactics and know who you studied.
WH
Socrates rescues Alcibiades at the battle of Potidaea
ANSWER: Of course. It was the Citadel that asked permission to use the ECM and compared me to Hegel. That was the first time I was discussed in a philosophy class. Yes, I have studied war. I remember Socrates questioned a general, asking if he would ever retreat. He said no. Then Socrates asked if it was true that a great battle was won in which an enemy was drawn in with a fake retreat. I find it astonishingly stupid for Zelensky to make this move to invade Russia. I question if it was truly his decision alone. If any military commander criticized him, I’m sure he was relieved of duty. Zelensky is just what you want leading the troops—a comedian who dodged the draft several times himself. Zelensky is a war criminal. He has no business being the head of a country, no less a war. This is such a stupid move; he had to have been told to do this by the Neocons.
Zelensky is putting on a show that he thought would raise more money. But he was also probably told to do so by the American Neocons, who need war before the election. Yet he is an idiot since Russia advances toward the Donetsk city of Pokrovsk, making significant tactical advances that this moron fails to understand. While Zelensky is putting on a show by invading Russia, he can find himself with supply lines cut off and his troops encircled. He will not retreat because that would now upset his cash flow after making a major move to beat his chest. Zelensky fears that Trump might win and is trying to demonstrate that he can defeat Russia. He also thinks he can strike a peace deal if he retreats from Russia and Putin withdraws from the Donbas and Crimea. What an idiot!!!!!! He is such a fool with zero understanding of tactical warfare.
If this high-heel dancing draft-dodger ever went to school, he probably skipped history class. Russia was invaded by Hitler’s Nazi Operation Barbarossa in 1941. There was a Battle of Kursk in 1943. As Goring testified at Nuremberg,
“All you have to do is tell them they are being attacked, and denounce the peachmakers for lack of patriotism and exposing the country to danger. It works the same in any country.”
Invading Russia and killing Russian civilians will enrage all of Russia, and Zelensky has brought the war home to all of Russia. Zelensky has made the most brain-dead decision, and his total lack of understanding of war is self-evident.
FDR could not get Congress to enter World War II until Pearl Harbor was attacked on December 7th, 1941. Once America was attacked, that resulted in America entering the war. This is the stupidity of Zelensky, and his show of force was most likely instructed by the American Neocons, who were desperate to create World War III before Trump took office. They have to understand military tactics. This is the oldest lesson from ancient times. An ancillary war does not get all of society to rise up. Attack any society, and then you will have the entire population rising up.
All the troops Zelensky sent into Russia can be surrounded, and Putin is now free to use any means necessary, including tactical nuclear weapons. He needs to deploy tactical nukes on his own territory to make a show to Europe that this is what NATO is risking with its antics. The only possible strategy would be to use a tactical nuclear weapon (small detonation) option on Russian territory. This will get all the Russians to rise up and realize that this invasion is truly orchestrated by the United States, Neocons, and NATO with the purpose of destroying Russia. This is the ONLY hope that the West will rise up against NATO and the Neocons and stop this war. I do not believe anything else will solve the problem.
The Neocons and NATO are desperately trying to get Putin to attack any NATO country or to use a nuke in Ukraine. They can then claim that Putin has attacked the West like Pearl Harbor to justify World War III. These people do not believe in anything other than their own hatred. Perhaps they are going to church to light candles praying for war, like in some scenes from The Godfather.
This is the Neocons Desperate to Create WWIII Before the Elections
Posted originally on Aug 31, 2024 By Martin Armstrong
From all my sources, Zelensky is just an absolute piece of shit, and that gives a shit a bad name. He responded to criticism that Ukraine shot down its own F16 by firing the head of the Ukrainian Air Force. How dare he blame Ukraine and criticize Ukraine’s air defense for shooting down their F16 in “friendly fire.” Zelensky has refused to admit anything. All the sources say it was a friendly fire. The Russians would have made a big deal out of it if they shot it down. So the F16 just crashed for no reason? Zelensky refused even to explain his reasoning.
He also fired his major military commander for criticizing him. This is a character pattern that Zelensky displays. He is always trying to project himself as a great military leader.
As I have said before, if he is assassinated, it will be by Ukrainians. That’s why his real bodyguards are Americans – he does not trust Ukrainians, who, I have been told, if he were on fire, would not urinate on him until he was dead. He has created his own dictatorship prohibiting elections as long as the war continues. Yet, he is fighting for democracy and freedom? Zelensky cheers the destruction of Ukraine. He is pitching to spend trillions to rebuild Ukraine, telling everyone this will be the greatest European Investment of the century. The smart Ukrainians have opened their eyes to the fact that he is just a profiteer.
He instigated the war. The day before, to ensure that Putin would cross the border, he stood up and declared that Ukraine would rearm with nuclear weapons. He knew that would force Putin to come in just as the US had to respond to Cuba.
Worse still, he had the intelligence from the Americans and knew when Putin would enter. He admitted to the Washington Post that he did NOT warn the people because it would have cost him $7 billion. He wanted as many civilians to be killed as possible so he could claim Russia is evil and the invasion was UNPROVOKED, which the left-wing press keeps reporting because they love war and will cheer when Americans come back in body bags. CNN will return to the ratings they once had with the Gulf War.
Zelensky is all about the show. How dare the head of the Air Force admit the truth? How will Zelensky keep the billions flowing if the West realizes it is not competent to handle the weapons we provide?
The fools on Capitol Hill wanted to put a marble bust of Zelensky alongside George Washington. At least they would not throw Washington in the garbage – not yet, maybe after the election. The conservatives were outraged over this promotion.
Posted originally on the CTH on August 31, 2024 | Sundance
Continuing in the series of articles around the challenge to Trump staffing in 2025, we now shift focus to the FBI Director, Deputy Director and Chief Legal Counsel positions. However, in order to appropriately discuss this critical silo, it becomes very important for everyone to understand the current status of the FBI as the organization has self-identified.
For those who followed the 2016 campaign of President Trump and then watched the 2017 attacks organized by the DOJ and FBI toward the incoming Trump administration, you may agree with me that a complete disassembly of the FBI is now warranted. I will walk through the process, but first it is important to understand just how bad the corruption has become:
RECAP: The FBI relationship with Antifa is exactly what we have previously discussed on these pages. There is no way for Antifa to operate as a domestic extremist group, without the expressed support and willful blindness of the FBI. Quite simply if the FBI wanted to stop the violent and extremist activity of Antifa, they could do that easily.
Remember, the objective of the FBI raid on Mar-a-Lago was to resecure what they perceived as physical evidence President Trump controlled showing how the DOJ and FBI action in 2016 was targeting him using the power of their law enforcement and intelligence agencies. In the background, the origination of all the DOJ/FBI/IC targeting goes back to the ’15/’16 FBI exploitation of the NSA database; this is not a contested discussion issue – it’s just continually forgotten.
The FBI was using their access to the NSA metadata of all Americans, to conduct surveillance on political candidates that might be a threat to the power structures that exploited the secrets within the electronic records of all Americans. The FBI was, almost certainly still is, conducting domestic surveillance and tracking Americans just like the German Stasi or Soviet KGB. It’s still happening, but we are not supposed to talk about it, or something.
The raid on Mar-a-Lago, just like the Robert Mueller investigation, was part of a long standing coverup operation. The FBI was looking for what Trump took with him as evidence of the weaponized system that targeted him. The FBI wanted that back. The FBI was willing to use deadly force to get it back if that’s what it took.
The modern FBI is the police agency of a weaponized U.S government, with a direct and purposeful mandate to keep the American people under control through strict surveillance and a violent police state.
Understand and accept this with great seriousness, there are no honorable “rank and file” inside this organization.
Every member of the FBI is a participant in the weaponization of power and government. The members are jackboots recruited from ideological college campuses for exactly the purpose of supporting a Stasi-like police state.
Through the past several years, we have discovered how the FBI worked inside Twitter, Facebook and social media to control information, remove content and manipulate opinion on behalf of the U.S. government – all activity political.
We have also learned the FBI took active measures to suppress information about the Hunter Biden laptop and control any negative consequences for the Biden regime – again, political. These are not disputed realities.
The U.S. Dept of Justice and FBI are now political institutions that have abandoned their originating mission in order to become the domestic equivalent of the Soviet-era FSB. Their joint targeting mechanisms have been redesigned to support the interests of corrupt DC politicians, specifically the interests of Democrats.
It was in June 2022, when Senator Chuck Grassley sent a letter [pdf HERE] to Attorney General Merrick Garland and FBI Director Chris Wray, notifying them of whistleblower allegations from within the FBI that senior leadership in both Main Justice and FBI are involved in a coordinated effort to cover up criminal activity related to Hunter Biden.
The whistleblower allegations, in combination with the documented history of DOJ and FBI misconduct, culminate in Senator Grassley stating:
“If these allegations are true and accurate, the Justice Department and FBI are – and have been – institutionally corrupted to their very core to the point in which the United States Congress and the American people will have no confidence in the equal application of the law. Attorney General Garland and Director Wray, simply put, based on the allegations that I’ve received from numerous whistleblowers, you have systemic and existential problems within your agencies.” (LINK)
Grassley was admitting what has been visible for years.
Senator Grassley is telling the corrupt DOJ-FBI leadership that people in the organizations are outlining the detailed behavior of their corrupt leadership. However, with zero oversight involved, and with Democrats in charge of all committees that would be responsible for such oversight, and with institutional media in alignment and agreement with the corrupt institutional intents of the DOJ/FBI, the frustrating question becomes, “and“?
I mean, who are we kidding? If Republicans were in charge of the Senate Judiciary, Reform/Oversight, or Intelligence committees, do we really believe that anything would be different? Before responding to that cynicism, remind yourself, they were for four years, January 2015 through January 2019, Republicans in charge of oversight.
It was exactly when Republicans were in charge of Main Justice and FBI oversight that Main Justice and FBI were targeting political candidate Donald Trump.
In July 2021, the DOJ OIG produced an absolutely damning Inspector General investigation of FBI conduct in the rape and sexual assault of U.S. Gymnasts, revealing how FBI agents facilitated Nassar’s sex crimes by taking no action despite numerous witness statements to them.
Worse yet, the FBI never reported the sexual assaults to local law enforcement… and to top it off, the rank and vile FBI agents lied during the investigation of their conduct, and the DOJ under AG Bill Barr, and now under AG Merrick Garland, refused to prosecute the FBI liars.
The entire IG report [Must Read pdf Here] reveals layer-upon-layer of FBI wrongdoing, misconduct and false statements in an effort to cover up their activity when the internal investigation of their conduct began. This report is a total condemnation of the FBI rank and file. It really is quite stunning.
BACKGROUND on FBI – As we discovered in January of 2023, the FBI was fully aware of the terrorist who was planning to shoot the synagogue in Colleyville, Texas, and yet they did nothing.
The FBI knowledge of the shooter, Malik Faisal Akram, who was known as Faisal Akram, was confirmed by The Daily Mail. Akram ranted, prior to his travel to the U.S, that he wished he had died in the 9/11 terror attacks. He was a regular visitor to Pakistan, and reportedly a member of the Tablighi Jamaat group set up to ‘purify’ Islam. To say the U.S. intelligence system knew Faisal Akram would be an understatement.
The FBI was also fully aware of the Boston Marathon bombers, the Tsarnaev brothers, before they executed their plot. The FBI took no action. The Russian police twice warned the FBI that the Tsarnaev brothers were going to carry out a domestic terrorist attack on the USA, the FBI did nothing.
The FBI knew in advance of the Pulse Nightclub shooter (Omar Mateen) and were tipped off by the local sheriff. The FBI knew in advance of the San Bernardino Terrorists (Tashfeen Malik). The FBI knew in advance of the Boston Marathon Bombers (the Tsarnaev brothers) tipped off by Russians. The FBI knew in advance of the Parkland High School shooter (Nikolas Cruz). The FBI knew in advance of the Fort Hood shooter (Nidal Hasan), and the FBI knew in advance of Colorado grocery store shooter Ahmad al-Aliwi Alissa. The FBI took no action.
The case of the first recorded ISIS attack on U.S. soil was in Garland, Texas in 2015.
The FBI not only knew the shooters (Elton Simpson and Nadir Soofi) in advance, BUT the FBI ALSO took the shooters to the venue and were standing only a few yards away when Simpson and Soofi opened fire. Yes, you read that correctly – the FBI took the terrorists to the event and then watched it unfold. “An FBI trainer suggested in an interview with “60 Minutes” that, had the attack been bigger, the agency’s numerous ties to the shooter would have led to a congressional investigation.”
Remember, shortly before the 2018 mid-term election, when Ceasar Syoc – a man living in his van – was caught sending “energetic material that can become combustible when subjected to heat or friction”, or what FBI Director Christopher Wray called “not hoax devices”?
Remember how sketchy everything about that was, including the child-like perpetrator telling a judge later that he was trying to walk back his guilty plea, because he was tricked into signing a confession for a crime he did not create.
Or more recently, the goofball plot to kidnap Gretchen Whitmer that involved 18 suspects, twelve of them actually working for the FBI as the plot was hatched? And we cannot forget the January 6th. DC protest turned insurrection effort, which is clearly looking like an FBI inspired and coordinated effort; and unlike Syoc, despite the numerous CCTV cameras and resources in the area, they cannot find who placed the pipe-bombs?
Have we forgotten the Atlanta “Olympic Park Bombing”, and the FBI intentionally setting up transparently innocent, Richard Jewel?
What about the FBI failing to investigate the assassination of U.S. Ambassador Christopher Stevens in Benghazi. Did we forget when Robert Mueller’s FBI waited 19 days after the Benghazi attack before showing up at the compound?…. Journalists from the USA were walking around the compound after 48 hours, but it took the FBI another two weeks before the first investigator arrived…. All evidence long destroyed.
Then, there’s the entirety of the FBI conduct in “Spygate”, the demonstrably evident FBI operation to conduct political surveillance against Donald Trump using their investigative authorities; and the downstream consequences of a massive institutional effort to cover up one of the biggest justice department scandals in the history of our nation. The original effort against Donald Trump used massive resources from the DOJ and FBI. Heck, the coverup operation using the Mueller/Weissmann special counsel used more than 50 investigative FBI agents alone.
And of course, the FBI still had 13 extra agents available to rush to a NASCAR racetrack to investigate a garage door pull-down rope that might have been perceived as a noose; but the serial rape of hundreds of teenage girls, eh, not-so-much effort – even when they are standing in front of the FBI begging for help.
[At this point, I am increasingly convinced by evidence there are elements within the FBI that are enablers involved in sex trafficking, human smuggling, abduction, counterfeiting and money laundering as part of their operational mission.]
The FBI didn’t make a mistake or drop the proverbial ball in the Olympic gymnast case, they intentionally and specifically maintained the sexual exploitation of teenage girls by doing absolutely nothing with the complaints they received. This is not misconduct, this is purposeful.
Then, as if to apply salt to the open wound of severe FBI politicization, what did the FBI do with the Hunter Biden laptop?
More recently, the FBI executed a search warrant on the home and office of Project Veritas and the founder James O’Keefe. While the raid was taking place, a New York Times reporter called O’Keefe to ask him about his thoughts on getting raided. The same New York Times journalist, a few days later, then begins writing about the confidential attorney-client privileged information illegally retrieved then leaked by the FBI during their raid.
♦My point is this…
What the Federal Security Service (FSB) is to the internal security of the Russian state, so too is the FBI in performing the same function for the U.S. federal government.
The FBI is a U.S. version of the Russian “State Police”; and the FBI is deployed -almost exclusively- to attack domestic enemies of those who control government, while they protect the interests of the U.S. Fourth Branch of Government. That is the clear and accurate domestic prism to contextualize their perceived mission: “domestic violent extremists pose the greatest threat” to their objective.
Put another way, “We The People”, who fight against government abuse and usurpation, are the FBI’s actual and literal enemy.
Let me be very clear with another brutally obvious example. Antifa could not exist as an organization, capable to organize and carry out violent attacks against their targets, without the full support of the FBI. If the FBI wanted to arrest members of Antifa, who are actually conducting violence, they could do it easily – with little effort.
It is the absence of any action, by the FBI toward Antifa, that tells us the FBI is enabling that violent extremist behavior to continue. Once you accept that transparent point of truth, then you realize the FBI definition of domestic violent extremism is something else entirely.
The FBI is not a law enforcement or investigative division of the U.S. Department of Justice. The FBI is a political weapon of a larger institution that is now focused almost entirely toward supporting a radical communist agenda to destroy civil society in the United States.
The FBI set up the operation in Michigan to give the illusion that domestic threats were attempting to kidnap Governor Gretchen Whitmer, everything about the events were an FBI construct. The same thing with the January 6th events in Washington DC and the pipe bombs. These are domestic FBI operations. Think about the precarious nature of what this type of activity indicates.
The current mission of the FBI appears to be preserving and protecting institutional power by protecting the administration of Joe Biden.
Anyone who continues to push this insufferable and fraudulent “honorable FBI rank and file talking point”, is, at this point in history, willfully and purposefully operating to deceive the American people on behalf of government interests who are intent on destroying us.
It is not a difference of opinion any longer. Personally, I have lost the ability to sit comfortably or intellectually with anyone who pushes or accepts the ‘mistakes are made’ nonsense. The FBI is not making mistakes, they are doing well what is important to them.
To me, it comes down to a simple matter of accepting what is continually staring us in the face.
Additionally, as we watched the outcome of the Michael Sussmann trial, we should never lose sight of the fact that 40 FBI agents were involved in the Mueller-Weissmann probe to investigate the fraudulent construct created by Hillary Clinton and crew. 40 agents? And, according to the outcome of the Sussmann trial, the FBI knew it was all a ruse.
This is why and how the Fourth Branch of U.S. Government is now the superseding apparatus above all other branches. {GO DEEP} This is why and how Barack Obama, John Brennan and Eric Holder created it, cemented it, and made it impervious to any effort to remove it.
Remember when Henry Cuellar was critical of the Biden administration open border policies that were hurting his Texas district? Less than a month after going public with his criticisms, the FBI raids on his home and office began. The same FBI that raided the home of James O’Keefe while coordinating their search with the New York Times.
The Fourth Branch of Government is corrupt; heck, the J6 committee was defending the corrupt FBI, participating with the corrupt FBI, selling a joint J6 operation that involved the FBI. The corrupt media have aligned with the corrupt FBI, and the justice institutions in/around this legal framework are self-aware and fully autonomous.
As the Twitter files show, the DOJ and FBI, through the authority of DHS, now have the ability to monitor every single aspect of every life that might seek to challenge or destroy the corrupt system.
In essence, Skynet -the ultimate end game of political surveillance and targeting outlined by Edward Snowden- has been activated. We the People are the enemy of the state.
Jackboots are very real, and they are wearing FBI logos on their shirts.
Posted originally on the CTH on August 30, 2024 | Sundance
There are always those moments in the battles of significant consequence, when the tempered voices saying, “hold… hold… wait…”, feel the blood pulse, sense their pupils focus,…. feel the energy of the millions of pulses behind them, and shout,…
…. “NOW!”
Perhaps this becomes the moment when all pretenses are dropped, and Mr Vince Everett Ellison becomes one of those consequential voices. This is one of the most powerful and compelling videos that drops all pretense. WATCH:
Is this the most powerful trailer you've ever seen?
Right now, those who wish to “fundamentally change” our nation are waging a full-frontal assault against our constitutional republic. The bombardment seems overwhelming. Mr Ellison is correct, “the democrat party is an evil institution.”
Leftist city and state leaders have abandoned rule of law in favor of supporting the mob effort to destroy our sense of national unity. Our borders have been left purposefully unsecure; the trouble created is only just now starting to manifest.
Political activists, Marxists and left-wing ideologues under the guise of democrats, together with their media allies are conducting an information war on behalf of their objective.
Most Big tech social media companies are attempting to remove the voices of those who are fighting back, and there is a great deal of purposefully driven anxiety and fear amid our nation as this multi-faceted internal war takes place. However, now is the moment to surge; to be forceful and to assert yourself with confidence knowing We the People are the majority.
It all ‘seems’ chaotic and mad because it has been created to appear that way. There are more of us than them; they just control the systems that allow us to connect, share messages and recognize the scale of our assembly. But remember, we cannot comply our way out of tyranny.
We must withstand this onslaught, any onslaught, and then unite in common purpose and rally to the origin of our true national spirit.
We must rally to a standard of American exceptionalism and accept this current status created by the Marxist hoard is not that.
In essence, we must individually take a stand. Purposefully, deliberately and with forethought, we must engage with those around us to get rid of this sense of foreboding. Lean into the love of God, embrace our national pride and forcefully be the leaders for our own destiny.
What value would we now define in the blood at Fort McHenry?
That moment, that goal per se’, was simple. Hold the flag-pole in place. Keep what that flag represented held high, no matter the cost. And yet, that cost, my God THAT COST, could it ever be quantified appropriately? A simple yet consequential task that expressed the fullest measure of devotion to the underlying premise, freedom.
The origin of America!
Currently, there is a great chasm within our nation between two diametrically opposing worldviews. When one side is forced to pay for the indulgent choices of the other, or when one side targets what we cherish most – our children, then our cold anger turns hot.
It is difficult to contain rage in the face of evil when manifest as sanctimony, yet the Marxist abusers will always be prepared to claim victimhood as soon as we respond to their abuse.
Posted originally on Aug 30, 2024 By Martin Armstrong
A new study by Florida Atlantic University believes that 94 separate US banks are facing a significant risk of bank runs. The at risk banks have all reported a 50% or higher ratio of uninsured deposits to total deposits. Basically, they simply do have the hard currency to shell out in the event of a panic.
Banks currently limit cash withdrawals under the pretense of money laundering and security. They will ask all sorts of questions if you even TRY to withdraw your money. They realize we are on the verge of a crisis in banking on a global scale.
The University’s Liquidity Risk from Exposures to Uninsured Deposits indexfound that BNY Mellon and John Deere Financial have a 100% ratio of uninsured deposits, followed by State Street Bank (92.6%), Northern Trust (73.9%), Citibank (72.5%), HSBC Bank (69.8%), JP Morgan Chase (51.7%), and U.S. Bank (50.4%).
The Federal Deposit Insurance Corporation (FDIC) has the power to shutdown a bank before a bank run occurs. The FDIC is controlled by Congress and acts as a safety measure to protect insured deposits in the event of bank runs. Deposits over $250,000 are not insured nor are mutual funds, annuities, life insurance, bonds, or stocks. Uninsured depositors have experienced a mere 6% in losses over the past 16 years.
Let’s take a look at the Silicon Valley Bank (SVB) failure of March 2023. The FDIC agreed to make all account holders whole including those with uninsured deposits. SVB has an uninsured deposit ratio of 97% at the time and failing to cover all losses would have created a panic in the banking world. The FDIC invoked the “Systemic Risk Exception” for SVB and Signature Bank that enabled them to protect uninsured depositors when deemed necessary. Two-thirds of the FDIC board voted in favor of the measure and the Fed, Treasury Secretary, and president signed it off.
The FDIC relies on the Deposit Insurance Fund (DIF), which is backed by Washington. Now, what happens when multiple large banks fail? It was easy for the government to write off a few banks to brush the severity of the situation under the rug. If everyone tried to withdraw their accounts at the same time, the government would not have the hard currency to back it. This is one of the major reasons that we will see a conversion from hard currency to digital.
I have stressed that studies in ancient times as well as modern show that during a crisis you head toward DEFLATION as money becomes scarce, the VELOCITY of money collapses, and people HOARD wealth – they do not spend it. The US will experience a period of stagflation as GDP will decline as inflation soars. Banks will begin to fail in Europe before it becomes a global contagion.
Posted originally on Aug 30, 2024 By Martin Armstrong
The US government highly favors migrants over citizens. California’s Senate passed a bill that will permit illegal migrants to secure housing loans at 0% interest with a 0% downpayment. They will receive grants of up to $150,000 to use toward the home. California citizens are handing these people free healthcare, debit cards, phones, and now home ownership. How do the Democrats justify this blatant scheme?
I spoke with an acquaintance who happens to be moving to California. She was on board with the program and agreed with the Democrat’s handling of the migrant crisis. “Where else are they going to live? It will make it easier for them to find housing, and immigrants are such a vital piece of our economy.” She fails to understand the economic implications behind such a move and is disillusioned about the overall demographic of migrants, as most did not come to the US to work because that was never a requirement.
Banks make US citizens go through hoops to secure housing. You must show solid employment for two years, good credit, and a low debt-to-income ratio. The banks review every single asset someone owns and their potential for future income to ensure that the potential homeowner will be able to repay. It is a long and tedious process unless you pay in cash, which few can do. Then they ask for up to 20% on a downpayment and slap on an 8% interest rate, give or take. Property taxes and insurance premiums rise every year without fail. The banks will gladly foreclose a property if they do not receive payment when it’s due. US citizens who worked their entire lives and actually paid into the corrupt system are unable to secure housing. California, in fact, has the highest homeless population in the nation.
How will these migrants pay property taxes? How will they pay for property insurance, which often surpasses the cost of property taxes? What happens when the local municipality goes bust, and no one can pay the bank? There was absolutely no consideration regarding how these migrants with no proven work history or potential future earnings could make payments. The government cannot afford to buy homes for every migrant family. There is no plan in place to finance this initiative properly because the money does not exist. California’s deficit already stands at $47 billion and continues despite Governor Newsom raising taxes at every turn.
“With many legal residents not able to afford a home, should we really be giving free cash to illegal immigrants? Every dollar that goes to an illegal immigrant is one less dollar available to legal residents including veterans, teachers, and families,” said California Senate Minority Leader Brian Jones, R-San Diego, in a statement. “California already spends $5 billion per year on free healthcare for illegal immigrants—will it ever be enough for Democrats’ political agendas?”
California is one of numerous blue states that plan to give the migrants even more taxpayer funds. Oregon announced that it will provide migrants with $30,000 to use toward housing under its Camino a Casa program that is ONLY available to illegal migrants. This is clear state-sponsored discrimination against US citizens at a time when the majority of renters are struggling to enter the housing market.
What are the benefits of US citizenship at this point? We are the ones footing the bill for ourselves and the millions of newcomers. Someone can break international law, cross over the border with their entire extended family, and receive more benefits from the government than any senior, veteran, or disabled person living on government assistance. Kamala Harris plans to build millions of new homes to curb the housing crisis, BUT SHE IS KEEPING THE BORDER OPEN! How can we ever quell the uneven demand when millions of people are pouring into our nation?
So, they plan to solve the migrant housing crisis by simply giving them free homes. Will all the newcomers also receive free housing? How will this change the demographic of neighborhoods and communities throughout California? Politicians never look a moment past the next election, and they simply do not care about the long-term repercussions of their actions.
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