US Treasury Secretary and establishment puppet Janet Yellen has denied the advice of her own advisors to encourage debanking practices. Twenty Republican Attorney Generals have reached out to Yellen to remind her that she is not permitted to impede with state laws to weaponize her department against the Democrat’s political opponents.
Florida Attorney General Ashley Moody declared US Treasury has “forsaken its statutory role and instead chosen to intervene on behalf of activists seeking to hijack the financial system for their political ends.”
This has been happening across the world, and instances of debanking for political purposes have reached new heights in 2024. In April, 15 AGs attempted to reach out to Bank of America over a “troubling financial pattern” of debanking Christian organizations. “Bank of America has a track record of de-banking religious organizations,”the letter states, followed by examples of banks suddenly freezing funds of Christians and churches without warning. Why? National security, of course.
Banks were instructed by government to search transactions for keywords such as “Trump” and “MAGA” to look for “domestic terrorists.” They asked banks to look for people who had purchased certain books such as religious texts. Purchased a gun? You’re a potential terrorist and threat to the government.
“The Treasury Department has once again forsaken its statutory role and instead chosen to intervene on behalf of activists seeking to hijack the financial system for their political ends. It is even more disappointing that the Treasury Department would use “national security” as cover for large banks’ abuse of power to achieve those ends,” the most recent letter claims.
All of our freedoms are revoked under the premise of “national security.” This would be akin to permitting the government to rob your house to protect you from intruders. There are state laws in place to protect the people but the federal government believes they can deny these protections in the name of national security. Florida’s HB 989, for example, is intended to protect consumers from discrimination. That law aims to protect gun manufacturers, the fossil fuel sector, religious organizations, and others who do not adhere with the BUILD BACK BETTER agenda from being denied the right to operate in America’s financial system. “No consumer or business should be denied services based on political beliefs or religious views or because of some arbitrary social credit score derived from ideological agendas,” the AGs added in their latest letter.
Again, this is a worldwide phenomenon of governments weaponizing banking institutions. The UN-backed Net-Zero Banking Alliance aims to jeopardize anyone not adhering to the climate change agenda financially. Over 144 banks have signed on board. I reported last year that abullion dealer I personally know suddenly had his credit lines revoked. Governments genuinely believe the people are underpaying taxes by at least 35%. They want to eliminate all financial hedges against government and financially cripple those who do not abide by the agenda.
Yet another reason why all governments must go digital. CBDCs will permit governments not only to track every sale and purchase, but it will give them the POWER to prevent purchases instantaneously.
Posted originally on Aug 5, 2024 By Martin Armstrong
Our computer model warns that we are headed into tremendous civil unrest because those behind the curtain are NOT about to let Trump thwart their agenda of World War III. I warned that they would attempt to assassinate Trump, for it was on the 13-year Assassination Cycle. The last non-Deep State assassination attempt was on Obama in 2011. On top of this, the Civil War Cycle turns up in a few weeks – 2024.679 (September 4/5th). On November 11, 2011 (2011.863), seven shots were fired and hit the White House, but nobody was injured. About 13 years later, it brings us to 2024 as well with the attempted assassination of Trump.
This 2024 election, I have warned that NOBODY will accept it regardless of who wins. The Neocon Deep State has NO INTENTION of allowing Trump to dismantle their power. I have warned that the military will most likely eventually split and take sides as they did numerous times throughout the Roman Empire. Following the death of Nero in 68AD, various Roman generals made their power play. Thus, 68-69AD became the Civil War of Five Emperors and one champion of liberty – Gaius Julius Vindex (c. 25–68AD), who was a Roman governor of a noble Gallic family of Aquitania. It was Vindex who began the revolt against Nero in either late 67 or early 68AD. According to the historian Cassius Dio, Vindex “was powerful in body and of shrewd intelligence, was skilled in warfare and full of daring for any great enterprise; and he had a passionate love of freedom and a vast ambition.” His coinage never depicted his own image. It was most often Liberty or Augustus who died in 14AD. As with most such domestic upheavals, they tend to be concluded within 2 to 3 years.
I know Bill Kristol. He even spoke at one of our conferences back in the Nineties. I would say we are friends, at the least. Bill was Chief of Staff in the White House for Dan Qual. But Kristol is no Republican – he is a Neocon and will flip sides to whoever wants to wage war, especially against Russia.
I used to take his magazine’s back cover, helping him launch it when I believed he was an economic conservative. I was wrong. He turned his magazine into an anti-Trump propaganda venture because Trump was anti-war. In the process, he alienated his financial support, and his magazine collapsed over his Neocon agenda. He has not given up. He will do whatever he can to defeat Trump, and that says it all.
The last time Trump was in office, they created the fake Russia Gate scandal to distract Trump from draining the swamp, and that derailed more than half of his term. The “establishment” stuffed his cabinet with the Deep State cronies, and he discovered there were pros at derailing his agenda and stabbing him in the back. This is the same agenda that they are planning for this time. As I have said, even a Trump victory will not prevent the recession into 2028.
According to our computer, the risk of civil unrest will begin no matter who wins. These Neocons are already scheming to disrupt a Trump Administration and are already pitching to the military to be prepared to remove him on any conspiracy theory they concoct. RFK would not listen to me. I proposed that he take the Attorney General position, which has ABSOLUTE IMMUNITY. Only then would he be able to help drain the swamp! But this is more likely to become a civil war because these people are NOT about to let their power go. They are so close to bringing about the destruction of Russia, which has been their dream for decades.
We may go into civil war for perhaps two years into 2026. This is a fight for the soul of the nation against those who have usurped the power of the United States for personal vendettas. By this thirst for power, they may yet attempt to assassinate Trump again or poison him and claim it is bird flu. There is just way too much at stake, and these people will NOT walk away.
Robert Kagan wrote for the Washington Port and said Trump would be a dictator. His response that he would be a dictator for one day was concerning this article, so now the press, which is also anti-American, always supporting the Neocons and the Deep State, say, see – Trump admits he will be a dictator.
What the LEFT/Neocons are doing is seeking to flood the nation with illegal aliens who will then vote against native Americans to retain absolute dictatorial power. Throughout history, whenever such concentrations of power occur, this sparks civil wars. Internally, it weakens the nation-state and inevitably leads to coups and rebellions. Just read the history of the Byzantine Empire. The military split and various provincial armies rise up against that central power and claim their own. In this way, emperors such as Nikephoros II Phokas (r. 963–969) and Heraclius (r. 610–641) achieved royal power for themselves.
Nobody will accept this election in the United States, and our computer warns that this may be the LASTelection ever. We are looking at violence in Venezuela, France, and now even in the United Kingdom.
Despite the fact that Hillary raised 40 times more money than Trump, money does not buy the Presidency. Our computer projected a Trump victory against every poll that handed it to Hillary. In Britain, our computer projected BREXIT would win against every poll that said it would lose. Our computer does NOT care who are the candidates. People will ultimately vote based upon economic conditions and their confidence in government.
Confidence in Government is Collapsing Worldwide. The trend is merely whoever is in power, throw the bums out, be they left or right.
The NYC region, Chicago, California, and Washington, DC, are places you should look to vacate.
Posted originally on Aug 2, 2024 By Martin Armstrong
With each passing day, our Nation is declining into a state of where civilization is no longer sustainable. Senate Majority Leader Chuck Schumer has introduced legislation seeking to strip Donald Trump of any immunity for his definition of a criminal action, in a blatant usurpation of power where he seeks to reverse the Supreme Court’s landmark decision on Trump’s Immunity calling this the “No Kings Act” where he has asserted the unconstitutional attempt to strip[ the Supreme Court completely stating that ONLY Congress, not the Supreme Court, determines to whom federal criminal law is applied.
Schumer had better study law if he wants to pretend to be outraged over the Supreme Court’s Immunity decision regarding Trump. He would NEVER say a word if it was concerning Biden. People like Schumer are destroying the United States with their Marxist agenda. He should look at the immunity that senators and representatives have as laid out in Article I that they are “privileged from Arrest during their Attendance at the Session of their respective Houses, and in going to and returning from the same; and for any Speech or Debate in either House, they shall not be questioned in any other Place.” The Founding Fathers put that in the Constitution, for they knew that people like Schumer would pull every trick to manipulate the country back then. Yet, all we hear is that Trump should be prosecuted for his speech on January 6th.
Schumer is a complete hypocrite, and I find it really offensive the antics he constantly pulls that are dividing the country. He should also look at the fact that the Attorney General is ABSOLUTELY IMMUNE even if he recklessly indicts Trump or if a prosecutor brings charges against you, even for personal reasons. The Supreme Court previously held
“A state prosecuting attorney who, as here, acted within the scope of his duties in initiating and pursuing a criminal prosecution and in presenting the State’s case, is absolutely immune from a civil suit for damages under § 1983 for alleged deprivations of the accused’s constitutional rights.”
On top of the question of Immunity, the very foundation of Due Process of Law is NOTICE: They cannot pass a law after you did something to make then it a crime. This rhetoric coming from Schumer is so damaging to the country; he is driving our nation into civil war because he is out of control and believes himself to be a demigod, pushing his political vendetta against every principle of law and the building blocks that were the foundation of our country. He is a vile supporter of the DEEP STATE. To even come out like this shows that he should honestly be arrested for what he is doing to our country. He supported the denial of any right to vote for a candidate, keeping RFK off the ballot because this entire candidacy of Harris was a back-room deal. He should look in the mirror to see what he is doing with this NO KINGS ACT.
Schumer’s acts are so anti-American and UNCONSTITUTIONAL that she should not be representing anyone – EVER!
Tripartite Government – Executive – Congress – Supreme Court
The Separation of Powers
Chuck Schumer has violated his oath of office, and this latest bill is a usurpation of power even worse than the Democrat’s exaggeration of January 6th. He should be taken out of the Senate in Chains, for he has sought to destroy everything that the United States was built upon. They have conspired against Trump and RFK because they NEVER want anyone from outside of their little club on Capital Hill.
Obviously, Chuck Schumer is a complete idiot and should not be representing even a stray dog on Capital Hill. If he understood the Constitution, he would know that the bill he has just introduced is so outrageous it borders on not just partisanship but outright Treason against the United States. The leading case that every law student knows is Marbury v. Madison, which is the seminal case on this very subject of the separation of powers.
It began in January 1801, when then-President John Adama had been defeated in his reelection bid. There was a vacant seat, and Adams sought to fill the position of Chief Justice at the U.S. Supreme Court before he left office. Adams initially asked former Chief Justice John Jay to return to take the position. However, John Jay turned down the offer. Adams then nominated his Secretary of State and close advisor, John Marshall, who had been a lawyer but never a judge, to take the position on the Supreme Court. Senate unanimously confirmed him for the top spot on the court.
With two months left in his term, Adams also asked Marshall to remain simultaneously as his Secretary of State and Chief Justice. Obviously, that was a huge conflict of interest, as he was serving in both the Executive and the Court at the same time. Adams was a Federalist who had just lost the election to his political enemy, Thomas Jefferson. In a partisan move, Adams rushed to fill as many other judicial positions as possible before his political enemy took power. The hatred of Adams toward Jefferson was famous. They both died on July 4, 1826, with Adams at the age of 90 and Jefferson at 83. On his deathbed, Adams spoke his last words: “Thomas Jefferson still survives.” He was mistaken: Jefferson had died five hours earlier at Monticello that same day. Nonetheless, this shows how our nation was also deeply polarized over this issue of centralized Federal absolute control over individual states.
On the day before Adams’ term ended, he nominated 42 men to serve as justices of the peace, who were the lowest judges for minor legal cases, but they were Federalists. After the Senate approved his choices the next day, Marshall was assigned to finalize the paperwork and deliver the commissions. It was a mad rush, and he never got to four of them, including one belonging to a Virginia politician named William Marbury.
Jefferson Retaliates & Withholds the Four Commissions and Marbury Petitions Court
When Thomas Jefferson took the White House, he was somewhat perturbed at Adams’ unethical antic in a desperate attempt to pack the federal courts with political allies. Jefferson told his own Secretary of State, James Madison, to withhold the four undelivered commissions. Marbury sued to get his job. Marbury could have gone to the U.S. Circuit Court of the District of Columbia, where he might have prevailed. However, Marbury went directly to the Supreme Court and petitioned for a Writ of Mandamus, an order to command Madison to give them their commissions.
On February 10th, 1803, the Supreme Court convened to hear the case – Marbury vs Madison. The case centered on three issues. First, did Marbury and the other appointees have a right to their commissions? Second, if they did have a right that had been violated, did federal law provide a remedy? Finally, was an order from the U.S. Supreme Court the proper remedy to solve the problem?
The Marbury v. Madison Decision
Chief Justice Marshall, Adam’s buddy and former Secretary of State, presided over the case. He should have recused himself under today’s ethics since he played a role in the very events in question. The Supreme Court found in Marbury’s favor. However, it wasn’t clear whether Jefferson would obey the Court’s decision or simply ignore it. If Jefferson ignored the Supreme Court, that would have placed the Supreme Court seriously in a position of being irrelevant. If the court ruled in favor of the Jefferson Administration, it would appear like it had given in to political pressure.
Marshall was undoubtedly in a difficult position, and he wrote the decision. He found that Jefferson had violated Marbury’s and the other appointees’ rights when he blocked their commissions since they had already been confirmed and affixed with seals. He further held that Marbury was entitled to sue and seek a legal remedy, and a federal judge could issue a writ ordering Jefferson to comply. This was a very tall order.
Was an order from the U.S. Supreme Court the proper remedy to solve the problem?
However, on the third question, things were very complicated. The Supreme Court’s ability to hear Marbury’s case directly was based upon a portion of the Judicial Act of 1789. This Act gave the court the power to issue writs directly to federal officeholders without a plaintiff going through a lower court. But as Marshall wrote, Article III, Section 2 of the Constitution already specified that the court had original jurisdiction in limited types of cases involving “ambassadors, other public ministers and consuls, and those in which a state shall be party,” and could only act as an appeals court in all others. Therefore, Congress’s enlargement of the Supreme Court’s jurisdiction was unconstitutional. In a landmark decision that has defined the separation of these three branches of government that Chuck Schumer has ignored, Marshall wrote:
“The powers of the legislature are defined and limited; and that those limits may not be mistaken or forgotten, the constitution is written.”
As a result, Marshall concluded, “the Constitution of the United States confirms and strengthens the principle, supposed to be essential to all written constitutions, that a law repugnant to the constitution is void, and that courts, as well as other departments, are bound by that instrument.”
Marshall Establishes the Supreme Court’s Authority
The decision in Marbury v. Madison was immediately recognized across the nation as the profound definition of our nation. The idea that the Supreme Court could overrule an act of Congress actually predated Marbury v. Madison— when Alexander Hamilton argued that very point in The Federalist Papers in 1788—where we find this principle now was firmly established in law. Thus, this case made clear that the ruling established the power of the federal courts over other branches of government to interpret the nation’s laws. Marshall wrote:
“It is emphatically the province and duty of the judicial department to say what the law is.”
“Those who apply the rule to particular cases, must of necessity expound and interpret that rule. If two laws conflict with each other, the courts must decide on the operation of each.”
Today, thanks to Marbury v. Madison, the federal courts’ authority is undisputed. Chuck Schumer has absolutely no justification to be in the Senate. He has rejected the law of the land all for partisan politics. Schumer should be IMPEACHED and removed from office. He is polarizing the country, and it is one thing if his argument is even lawful, but when he seeks to strip the Supreme Court of the very role of deciding what the law is, he has gone too far and should be removed for violating his oath of office and is a disgrace to our nation.
As Thrasymachus said some 2500 years ago, JUSTICE is only the self-interest of those in power. Schumer has proven that mixing politics and law is the death sentence for any society. We are rapidly approaching 2032, when it will be time to turn out the lights on the experiment called a Republic. Franklin understood the cycles of time and circumstance.
originally on the CTH on August 1, 2024 | Sundance
Tech CEO Amjad Masad talks to Tucker Carlson about the cults of Silicon Valley. Indeed, I think we can all see a modern Technocratic shift taking place.
Chapters:
00:00 Artificial Intelligence 10:01 Bitcoin 22:30 The Extropians Cult 29:15 Transhumanism 34:04 Longtermism 40:24 Are Machines Capable of Thinking? 43:11 The Two Conflicting Theories of Physics 49:46 The Difference Between Mind and Computer 1:04:24 The Abuse of Technology 1:12:36 Virtual Companionship 1:15:12 Do Silicon Valley Elites Acknowledge the Existence of God? 1:26:37 Silicon Valley Turning to Donald Trump 1:40:20 Elon Musk and Free Speech
♦ BIG PICTURE – Are the newest group of billionaire Silicon Valley tech leaders currently supporting MAGA Trump/Vance, really a modern assembly of the Green Dragon rebels in Boston, plotting the next Tea Party rebellion. Or are they simply just the other side of a new modern Technocratic control system, aligned with and dependent on government?
The Obama-era ‘Technocracy‘ was based on public-private partnerships with social media. This was the origin of the surveillance state that now scours, controls, filters, censors and ultimately monetizes your social media data profile. The operational and business model is cemented into the process now. Everyone accepts it. Terms and conditions apply, and if you don’t agree, you can’t use.
Is the pending Trump-era ‘Technocracy‘ a rebrand, pushing social media off to the side (that part is done) and bringing data processing control agents, artificial intelligence software designers, big money venture capitalists, banks and those who are creating digital id systems. Does Elon Musk, Peter Thiel, Bill Ackman, David Sacks, Chamath Palihapitiya, Jacob Helberg and Vivek Ramaswamy, now occupy the empty chairs around the table of Technocracy?
Was the 5/10-year business model in the mind of tech billionaire Peter Thiel what led him to recruit JD Vance in 2013. Was it a financial decision blended with ideology to guide, finance and support JD Vance all the way to 2022 and 2024? Was JD Vance an investment?
Truly, I suspect our gut knows the answer.
That’s why my approach is to say, “here’s the factual data – trust your instincts.”
Posted originally on Aug 1, 2024 By Martin Armstrong |
Russia has announced that it will implement a digital ruble by next July. Moscow will begin using cryptocurrency for some foreign transactions to bypass sanctions and SWIFT. As of November 2024, Russia will permit crypto mining, so long as it is carried out under the watchful eye of the government.
The Bank of Russia will oversee crypto mining and overriding capabilities. The Russian government, alongside the central bank, will select mining pool participants and protocols. Gone are the days when anyone could seemingly anonymously mine crypto, as Russia is one of many nations that will begin to require complete government oversight.
Beginning on September 1, Moscow will attempt to use crypto for foreign settlements while creating a new electronic platform through the National Payment System (NPS) within the EPR framework. The central bank is already stating that it must monitor activities to “identify risks” relating to national security and terrorism. This is precisely why other nations will also begin closely examining crypto transactions to ensure that the government has the upper hand.
As for the digital ruble, all operations will go through the Russian central bank. All of the CBDC will be stored through the central bank, which they ensure is for citizens’ safety. Each digital ruble will carry a unique code, similar to a banknote, and people may transfer rubles from one digital wallet to another – all under the watchful eye of government. The decree for the digital ruble was signed into law last August, but authorities believe the average person will begin using it by 2025.
Bank of Russia head, Elvira Nabiullina, claims the digital ruble will be optional. “If they want – they’ll use it, if they don’t – they won’t. No one is forcing anybody to use the digital ruble,” Nabiullina said. Yet, what happens when the seller or buyer is only accepting digital rubles? There is some vague language about digital rubles having codes for specific usage to deter crime. Governments want control and there is no better way to control the people than usurping the money supply and what can be considered “money.”
Removing Russia from SWIFT prompted these actions. “Over 30 regulators are currently working on national digital currencies,” Olga Skorobogatova, the first deputy chairwoman of the Bank of Russia, reported. “I think that this speed, with which the regulators have delved into this field, speaks volumes about the fact that, in 5-7 years, several countries surely will step forward with their own national digital currencies. Then, we can discuss the questions of direct integration. In that case, we no longer need SWIFT, since these are different technological interactions.”
The move to CBDC was an inevitable next step. The International Monetary Fund developed a coin long ago and other nations have been working alongside their central banks for years. It will be easy for Moscow to force its citizens and businesses to make the switch as they’ve already been removed from SWIFT and have had their foreign assets frozen for simply residing in the wrong nation. There is a reasonable fear that their money is not safe.
The year 2025, one year away, will bring about the rise of countless CBDC. The ultimate goal is to create one centralized currency. We saw that it epically failed in Europe as those nations are now under the control of the One World European government, the unelected officials in Brussels who silence their own member states from dissenting. Yet to begin, nations will begin pushing for the use of digital currency before outright canceling “hard money” under the premise that they are protecting their citizens. In all actuality, the elite believes all the money in circulation belongs to them, and the only way to guarantee maximum taxation is to transition the people to a controllable, non-tangible monetary system.
Posted orriginally on Aug 1, 2024 By Martin Armstrong
Serving debt is the largest cost of Washington’s debt crisis; America currently spends $2.4 billion in daily interest fees alone. The debt and spending simply cannot keep up with what America is bringing in. The federal govt spent $658 billion on interest fees in 2023, a 38% jump from the $476 billion in servicing debt in 2022. That’s 2.4% of the entire national GDP spent on interest expenditures alone.
The Congressional Budget Office believes the US defense expenditures will reach $870 billion this year to put into perspective how wasteful these interest payments have become. The CBO also believes interest costs will spike to $892 billion by year-end, rising to $12.9 trillion by 2034. The previous high came in during 1996 at $468 billion.
The Peter G. Peterson Foundation broke the projected cost post 2032 to be $38,600 per American citizen. Not only is the US unable to pay this debt but those in government continue to spend TRILLIONS of dollars on programs that have not benefitted the people. This is one of the reasons that the US government is looking at a complete overhaul by the time we reach 2032 for it can not leave it for the next generation without consequences.
Posted originally on Aug 1, 2024 By Martin Armstrong
There has been so much disinformation and sensationalizing of Quantitative Easing that this has led to academic economists who lack any trading experience to propose Modern Monetary Theory for its seems nobody actually comprehends what the hell is really going on. Much of the problem stems from this ancient theory that if you increase the quantity of money, then inflation will follow. This all predates massive government debt.
Much of this Quantity Theory of Money has its origins in Sir Thomas Gresham (1518-1579), who represented the English Crown on the Amsterdam exchange. People would not lend money to England because Henry VIII was debasing the currency to be able to repay his loans. He confiscated the Catholic Church and started the Church of England all because he was broke and confiscated wealth from the Catholic Church in England. Gresham became an adviser to Henry VIII’s successor – Elizabeth I. Thus, Gresham’s Law became bad money drives out good money, or the undebased currency.
These theories, which even gave rise to Austrian Economics, were all pre-collateralized debt of governments. There was no such market for posting sovereign debt as collateral to borrow or trade in markets. The economic models all changed, but academics have never understood traders. Lacking that experience, you will never see the actual trends.
Where Gresham observes from trading that debasing the money caused higher quality money to be hoarded when the foreign exchange value between currencies was ENTIRELY based upon the metal content, John Law (1671-1729) was also a trader on the same floor of the Amsterdam Bourse. He observed what has become the theory of Supply and Demand. It took two traders to witness how the market moved to develop these ideas. Both men were self-taught since the field of Economics did not begin until 1902. Not even John Maynard Keynes nor Adam Smith held decrees in economics.
The other self-taught economist who was also a trader was none other than David Ricardo. At the tender age of just fourteen, David entered his father’s business, but in 1793, he set up his own operation and made a fortune as a trader on the London Stock Exchange. Ricardo’s most important work was Principles of Political Economy and Taxation (1817). This book deals with all the controversial questions of political economy at the time: value theory, economic growth, rent, etc.
His other works include The High Price of Bullion (1810), which was the origin of understanding deflation; David’s Essay on the Influence of a Low Price of Corn on the Profits of Stock (1815); Proposals for an Economical and Secure Currency (1816); and the Plan for a National Bank (1824).
Ricardo is most famous for his ‘Theory of Comparative Advantage’ and ‘Rent’, which effectively argued that, for example, Saudi Arabia could grow lettuce in a desert with tones of water that might cost $10 to grow when it can buy it for 50 cents elsewhere. Thus, a nation should exploit what it possesses with a Comparative Advantage rather than squander its resources and restrict free trade.
Quantitative Easing (QE) does not increase the Supply of Money—it is only a maturity swap. Today’s total money supply includes debt, unlike during the pre-19th century. This has erroneously given rise to Modern Monetary Theory, for they pointed to QE and said there was no inflation, so we could just print without repercussions. It was merely a swap of maturities when you finally realize that debt is now money that pays interest as paper money began during the Civil War.
When paper money stopped paying interest, the term “Greenback” emerged, meaning there was no interest payment schedule on the reverse, just green ink. Paper money began as essentially debt or bonds that circulated as cash.
If your Definition of Money is Wrong – So is Everything Else that Follows
Posted originally on Jul 31, 2024 By Martin Armstrong
The Fraser Institute conducted a study that found Canadians are experiencing the worst standard of living in the past 40 years. Conditions are beneath what was experienced during the 89 recession, the Great Recession, and even the early stages of the post-pandemic. What is going on in Canada?
Justin Trudeau uprooted Canada’s fiscal landscape and his policies have only further sunk Canada into a decline. I reported that household debt in Canada exceeds 100% of GDP. Government spending toppled $1 trillion in 2020 in response to the pandemic, decreasing only 7.8% to $969.5 billion the following year. Government spending toppled C$520.17 billion during Q1 of 2024 alone. Justin Trudeau is aiming to turn Canada into a “BUILD BACK BETTER” nation that operates not like a true capitalist society but like the unelected government-driven economy we see in the European Union.
Canada’s immigration policy has become a free-for-all, with its population reaching an all-time high this year after surpassing 41 million. Nearly all population growth (99.3%; 240,955 people) was solely attributed to migrants arriving in Canada. The taxpayers are expected to subsidize the lives of migrants and turn a blind eye to the drastic uptick in crime. Canada was once a safe nation with a high-trust society. Crime has risen by over 40% and the entire landscape of Canadian society is changing. These people are often living in squalor and there are not enough housing units or jobs for all migrants, let alone all Canadians.
Similar to the US, Justin Trudeau is boosting job postings by ramping up hiring in the public sector, which has grown by over 17% since 2019. For comparison, the private sector only grew by 4% during that same timeframe. The public sector simply does not add to the economy in any meaningful way. These tax-funded agencies simply multiply and deduct from overall GDP.
Similar to other Build Back Better nations, Canada has lost its edge in trade. The countless green initiatives have crippled entire sectors, and rising taxes have made it a less desirable place to conduct business. Canada experienced a 51.2% reduction in mining, oil, gas, and quarrying from 2014 to 2022, as one example. Business investments have decreased by a third under Trudeau, yet he continues to spend.
‘“Building back better” represents a shared vision for a sustainable and inclusive economic recovery that strengthens the middle class, creates more opportunities for hard working people to join it, and ensures people have good jobs and careers on both sides of the border. Our leaders also recognized the opportunity for clean growth driven by workers, communities, businesses, and innovation.”
These government leaders are utter failures who are incapable of implementing meaningful policies. They destroyed the world economy under COVID and then sought to BUILD BACK BETTER. Instead, they’ve driven away smart money and business, fostered an environment for rising crime, and decreased everyone’s quality of life with inflationary policies. It is time for the voters to wake up and realize that the people they put into office are directly responsible for their deteriorating economic situations.
COMMENT: It’s akin to a multi-billion marketing campaign
I have family in
UK, Sydney, and Galway, Ireland
All are getting “diversity” pushed. It’s like a weapon now to prevent unity, common heritage against govt
I made these for friends. The end game of diversity?
There will be OLYMPIC teams in 30 years!
RL
REPLY: The real purpose of this Diversity Equality Inclusion global marketing plan has NOTHING to do with caring about people. I think the racist label has greatly died down, for in our own company, we have every religion and race working together. Even this LGBQT movement disrespects everyone else and demands we change our pronouns, and it is offensive to them if we call our mother – “mother.” This excessive abuse creates discrimination when one group demands everyone else must change their actions that have no direct physical impact on them.
What made the United States the great melting pot and the largest economy in the world was DISCRIMINATION. It was fair, for whoever was the last off the boat was discriminated against until they learned English to get a job. There were violent incidences, like when the Irish came in during the Hard Times of the 1840s, that resurrected the old hatred of Catholics in Philadelphia by the English Protestants. However, the second generation all intermarried once they spoke the same language. Ask an American what they are; the typical response will be half Irish, half German – or whatever the combination might be.
This is George Soros’ Open Society agenda that neither respects human culture nor anything that makes us individuals. Like Garland, Blinkin, and Nuland, Soros immediately attacks any critic, calling them antisemitic rather than addressing the criticism. As the Atlanticwrote: “George Soros’s name has been used as an anti-Semitic, nationalist dog whistle.”
Soro’s mentor is Karl Popper (1902-1994), who wrote several books, including “The Poverty of Historicism,” which Popper wrote in New Zealand during World War II. Popper became fixated with this notion of destiny pushed by Hitler and others throughout history. In his “The Open Society and its Enemies,” he writes: “Historicism, which I have so far characterized only in a rather abstract way, can be well illustrated by one of the simplest and oldest of its forms, the doctrine of the chosen people.” Poper describes this “historicism” as follows:
It is widely believed that a truly scientific or philosophical attitude towards politics, and a deeper understanding of social life in general, must be based upon a contemplation and interpretation of human history. While the ordinary man takes the setting of his life and the importance of his personal experiences and petty struggles for granted, it is said that the social scientist or philosopher has to survey things from a higher plane. He sees the individual as a pawn, as a somewhat insignificant instrument in the general development of mankind. And he finds that the really important actors on the Stage of History are either the Great Nations and their Great Leaders, or perhaps the Great Classes, or the Great Ideas. However this may be, he will try to understand the meaning of the play which is performed on the Historical Stage; he will try to understand the laws of historical development. If he succeeds in this, he will, of course, be able to predict future developments. He might then put politics upon a solid basis, and give us practical advice by telling us which political actions are likely to succeed or likely to fail.
Popper became caught up in these claims of destiny, which blinded him to the actual driving forces behind society throughout the centuries and why kingdoms, empires, nations, and city-states always rise from nothing, reach a climax, and then disintegrate to dust, only to be buried in a common grave dug by history. In Edward Gibbon’s (1737-1794) Decline and Fall of the Roman Empire (1776), his final chapter tells us about two attendants to Pope Eugenius IV (1431-1447) who are sitting on top of the Capitoline Hill in Rome overlooking the Roman Forum. Poggius then comments upon the vicissitudes of fortune, which spares nothing and nobody while it buries empires, nations, and city-states in a common grave.
“Her primeval state, such as she -might–appear in a remote age, when Evander entertained the stranger of Troy, has been delineated by the fancy of Virgil. This Tarpeian rock was then a savage and solitary thicket; in the time of the poet, it was crowned with the golden roofs of a temple, the temple is overthrown, the gold has been pillaged, the wheel of Fortune has accomplished her revolution, and the sacred ground is again disfigured with thorns and brambles. The hill of the Capitol, on which we sit, was formerly the head of the Roman Empire, the citadel of the earth, the terror of kings; illustrated by the footsteps of so many triumphs, enriched with the spoils and tributes of so many nations. This spectacle of the world, how is it fallen! how changed! how defaced! The path of victory is obliterated by vines, and the benches of the senators are concealed by a dunghill. Cast your eyes on the Palatine hill, and seek among the shapeless and enormous fragments the marble theatre, the obelisks, the colossal statues, the porticos of Nero’s palace: survey the other hills of the city, the vacant space is interrupted only by ruins and gardens. The forum of the Roman people where they assembled to enact their laws and elect their magistrates, is now enclosed for the cultivation of pot-herbs, or thrown open for the reception of swine and buffaloes. The public and private edifices that were founded for eternity lie prostrate, naked, and broken, like the limbs of a mighty giant, and the ruin is the more visible from the stupendous relics that have survived the injuries of time and fortune.”
Popper rejected cycles because he was focused on these claims of destiny. That may have been the rhetoric of Hitler, but you do not focus your entire theory on trying to disprove such a claim. In the process, Popper never sought actually to identify why; no matter what form of government emerges, they are all buried in a common grave. Chancellor Merkel of Germany pushed economic theories based on the German false assumption that the hyperinflation took place BECAUSE of the printing of money when, in fact, it was the printing of money that was the response to the collapse in confidence of the Weimar Republic.
The Weimar Republic was born of the 1918 German Communist Revolution, during which the German communists even invited Russia to take Germany as part of their Communist Revolution in 1917. These Germans wanted to be part of this Marxist dream. Anyone in the right mind moves whatever wealth they have to other currencies. Then, in December 1922, the Weimar Government confiscated 10% of whatever assets you had in the bank to pay the reparation payments for losing the war.
This German distortion of historical events has poisoned the German economy ever since. It was the very reason why Hitler rose to power for the oppressive of the reparation payments that even Hohn Maynard Keynes warned was detrimental. However, the French had made reparation payments to Germany back in the 19th century, so they wanted retribution in the 20th century.
Even The Lyviathan by Thomas Hobbes (1588-1679) was deeply influenced by the English Civil War and the beheading of the King. In his Decline and Fall of the Roman Empire, Edward Gibbon (1737-1794) was also deeply influenced by the English Civil War between Protestants and Catholics. Consequently, he includes chapters on the rise of Islam and Christianity and attributes much of the cause behind the fall to religion and discord only because he saw that in Britain.
I find it very damaging when someone seeks to critique history based on current trends applied to different times. I have written before how William Penn named his city of Philadelphia based on the translation of the word “Philadelphos,” meaning “brotherly love.” That was not in a Christian sense; it referred to incest, where one married their sister, typically to keep the family wealth contained in the family. This was common in Egypt as well as Syria. This is my point. When looking at history, we MUST review it within the context of that period and NEVER apply our current experiences to their lack of understanding of their thinking and motives.
This was Popper’s great mistake in focusing on this claim of destiny, which was really a great sales slogan rather than a true economic trend. Popper may have wanted to improve the methods of the social sciences to promote peace, freedom, and prosperity, emulating the function of the natural sciences and technology to increase the earth’s productive capacity. However, his book’s central theme is his critique of the myth of historical destiny and historical determinism, that is, the idea that history is beyond human control.
There have been those who have recognized that the individual plays a key role, and this idea of government possessing the power to manipulate society, championed by Marx and Keynes, remains the very core of understanding the true nature of the economy. Carl Menger (1840-1921) is the founding father of the Austrian School of Economics, with his landmark “Principles of Economics,” published in 1871. There, Menger laid the intellectual framework for the subsequent Austrian scholars who followed him.
One of the book’s main themes is that the value of a good is not determined by factors that can be objectively determined (e.g., labor or material costs) but by subjective valuations of the object in question by individuals. As I explained to China when I was invited to help them transition to Capitalism, they were monitoring 249 varieties of tea. The question was, why is this one tea selling for about $5 in one place but $1 in another? I asked where its origin was, and that is where it happened to be $1. I elaborated that there were transportation costs first and secondly that someone would pay more for one tea than another because of personal preference.
In this sense, Carl Menger, Leon Walras, and William Stanley Jevonssaw that economics has a human element that goes beyond supply and demand. ‘Marginalist Revolution’ with Menger and Jevons was added to with elements by Walras, who proposed that the commodities’ relative marginal utilities determined relative prices of commodities and thus explained the discrepancy in the value of goods and services by reference to their secondary, or marginal, utility.
It was John Law (1671-1729), who was the father of the Supply and Demand theory he observed as a trader on the floor of the Amsterdam Bourse. However, Popper grossly overlooked the individual and that we are raised in a particular culture that forms our fundamental beliefs. You cannot have open borders and assume that everyone will assimilate into some homogenous society. Such a transition period of forced assimilation is highly violent and destructive.
Emperor Valens (364-378AD) allowed the Goths to cross the border, assuming that he could exploit them to build his army. They were trained in Roman tactics and then turned on the Emperor from inside the Roman Empire. Valens met his death on August 9th, 378 AD, in one of the greatest military catastrophes ever suffered by the Roman Legions – the Battle of Aadrianopolis. In this fateful battle to the death with the Goths, the legions of Rome were totally annihilated. The devastation and carnage was so vast that the body of the Emperor Valens was never recovered. This battle was one of the worst defeats Rome had ever suffered. Before, No one had ever destroyed the mighty legions of the Roman army while under the command of an Emperor himself.
So much for Soros & Popper’s Theory of an Open Society
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