This move takes Marco Rubio out of the position of Chairman for the Senate Select Committee on Intelligence (SSCI). That’s the sum value of this move, and the companion reason for President Trump to appoint Steven C. Witkoff to be Special Envoy to the Middle East. (link)
Senator Marco Rubio will be State Dept Secretary with a short leash and a very limited portfolio. However, from his perspective the political status and future value is awesome. It will be interesting to see: (1) who is appointed chairman of the SSCI, and (2) who Ron DeSantis appoints as Rubio’s replacement.
Posted originally on Nov 8, 2024 By Martin Armstrong
A new report by Oxfam, “Climate Finance Unchecked,” has determined that the World Bank has $41 billion in unaccounted funds that were destined to fight climate change.
This figure represents 40% of all disbursed climate funds by the World Bank. Oxfam’s audit revealed that between 2017 and 2023, between $24 billion and $41 billion simply went unaccounted for and there is absolutely no record of where the money went. No one knows how the money was used as there is no paper trail revealing where the money went.
“The Bank is quick to brag about its climate finance billions —but these numbers are based on what it plans to spend, not on what it actually spends once a project gets rolling,” said Kate Donald, Head of Oxfam International’s Washington D.C. Office. “This is like asking your doctor to assess your diet only by looking at your grocery list, without ever checking what actually ends up in your fridge.”
The World Bank is a leader in climate finance, controlling 52% of the total flow from all multilateral banks combined. World Bank President Ajay Banga announced in December that the bank achieved 35% of its financing three years ahead of schedule. He then set a new target of 45% by 2025. The bank later said in September that it achieved 44% of climate financing to the tune of $42.6 billion. “We’re putting our ambition in overdrive,” Banga said.
The bank acknowledged that it was difficult to keep track of its 800 climate financing projects but offered no insight into the missing funds. “It is clear that no one — including the Bank — has any real idea of how many billions of dollars are going to which climate actions,” the Oxfam report said.
Yet, climate activists are demanding $5 trillion in ANNUAL financing for the Global South to pay toward climate debt. Where did the $41 billion go? That large of a sum simply cannot be lost in a mere paperwork or oversight error. The climate change agenda has become a slush fund for the elite who will continue to fund this agenda without taking any responsibility for where the funds go or if they’re actually altering the climate in any meaningful way.
Posted originally on Nov 6, 2024 By Martin Armstrong
Germany is the first real casualty of Trump’s victory. Europe is also turning to the right, rejecting the same losing leftist policy spouted out by Harris. Chancellor Olaf Scholz just fired Finance Minister Christian Lindner, putting at risk the collapse of the German ruling coalition between the SPD and the Greens after three years. There have been differences in the budget and economic policy positions between the two factions. Lindner’s departure could lead to the FDP exiting the coalition.
Lindner of the FDP issued a paper that outlined his vision to revive the German economy. However, it argued against both fundamental positions of the SPD and the Green party. Hence, the German Finance Minister Christian Lindner has realized that the solutions undermine the socialist and green agendas. His paper provided a practical attempt to analyze Germany’s problems facing Germany. However, it argues that they have been unable to agree upon a 2025 budget, which still had a funding gap of several billion euros and was still being negotiated. The deadline for the budget was set for later this month.
Posted originally on the CTH on November 3, 2024 | Sundance
First, a repeat of what I have said for over two years, “WATCH MOLDOVA“ – Their vote is today.
Hungarian Prime Minister Viktor Orban recently reminded the EU collective, they will need to revise their pro-war stance if President Donald Trump wins the election on Tuesday. Orban is a good friend of President Trump and ideological ally of MAGA.
Despite the trillions at stake and the WEF/EU alignment that continues promoting the meat grinder in Ukraine, Prime Minister Orban is well aware that things will seismically change if President Donald Trump wins and brings the peace solution to the frenzy.
(Via Politico) – A Donald Trump victory in the United States election on Nov. 5 would force the European Union to adapt its stance on the war in Ukraine, Hungarian Prime Minister Viktor Orbán said Sunday.
“Europe cannot bear the burden of [the war] alone, and if Americans switch to peace, then we also need to adapt, and this is what we will discuss in Budapest,” Orbán said, according to a Reuters report, referring to a Nov. 7-8 meeting of European leaders in the Hungarian capital.
Orbán also reiterated his support for Trump ahead of Tuesday’s election, which sees the former U.S. president up against current Vice President Kamala Harris.
Stressing that a Trump victory is something that “I not only believe in but I also read the numbers that way,” the Hungarian leader said that “we [in Europe] need to realize that if there will be a pro-peace president in America … then Europe cannot remain pro-war.” (read more)
With a President Trump win, the democrats will immediately start banging the loud drum of The Logan Act, nonsensically trying to stop Russia and Ukraine from any ceasefire or cessation of hostilities before President Trump takes office.
Watch the Dept of State, CIA and DOJ immediately start referencing the ridiculous Logan Act. It’s as predictable as the sunrise.
Posted originally on Nov 1, 2024 By Martin Armstrong |
Aside from the collapse in Starmer’s popularity, he has confirmed our forecast for Britain. The left never saw someone they did not want to shake down for money. In the US, we have Trump talking about eliminating the income tax, which I worked on during the Nineties and even testified on taxation before the House Ways & Means Committee. Starmer has announced major tax hikes and higher borrowing to meet his aim of investing for long-term growth.
The tax hike as a percentage of gross domestic product to a record 38.2% will be the highest in modern British history, resulting in government spending not seen outside an emergency or war. While he claims that the additional £40 billion ($80 billion) is to invest in the future, it will undermine the future of Britain.
This year saw a Double-Directional Change on the yearly level for the pound, and we are looking at an unprecedented economic decline into 2026. This is what the LEFT refuses ever to comprehend. They are Marxists until the end.
Posted originally on Oct 29, 2024 By Martin Armstrong
QUESTION: Marty, I know you will not say who you advise, but we know you were the only Western analyst called in by China during the Asian Currency Crisis. People have also seen you in India at that famous hotel that the terrorists attacked. China even issued a white paper on how their central bank uses Capital Flow Analysis, which you invented. That said, my question is: The BRICS had everyone expecting a gold-backed currency if that failed. You also said in an interview that the new BRICS currency would not displace the dollar. Would you comment on why a gold-backed BRIC note would fail since they seem to have taken that position from you?
QB
ANSWER: The BRICS currency was created for geopolitical reasons when the Neocons transformed the SWIFT system into an economic weapon and even threatened China that they would do the same to them if they supported Russia. Once that occurred, the Neocons transformed the entire world’s monetary system into a weapon of war. That is why we have the BRICS. It had nothing to do with killing the dollar or backing their currency with gold.
Many hoped for an official announcement regarding a gold-backed currency, which failed to materialize. Look—a gold-backed currency would be massively deflationary. The money supply could not expand with the population or in times of need without new discoveries. Just because a currency is gold does not eliminate inflation or deflation. All the gold discoveries during the 19th century in California, Alaska, and Australia caused havoc economically. Then there were wars. The fact that gold was the currency did not prevent inflation.
Spain defaulted 7 times. All the gold and silver they brought back from the New World caused massive European inflation. Those who preach that a gold standard is the answer know nothing about history.
They blame “fiat currency” as if this will solve all the problems by eliminating it. There were booms and busts throughout ancient times long before there was paper money. ALL currency is fiat, even when it is gold. I have shown that Southern India routinely imitated Roman gold coins because they had a premium over gold – fiat. Northern India and the Kushan Empire did issue their own coinage mainly because they traded more with China. Southern India stuck imitation Roman gold coins for about 250 years. That confirms that the Roman coinage was worth more than the metal content.
BRICS Will Not be a Gold-Backed Currency or a Dollar Killer
They made the same claims about the Euro. That, too, did not work out well. Why? The value of a currency is the productive capacity of its people—not its gold reserves. Japan and Germany lost the war and rose to the top of the economic food chain because their people were productive. The United States has the largest CONSUMER-BASED economy, so everyone needs to sell their products here. That means that they must sell in dollars. The US is also strong militarily. That also adds to the foundation of the currency.
It is time we abandon all of these old, stupid economic theories, leftovers from the 18th and 19th centuries. The economy has evolved since then. The Neocons are destroying the dollar. They are undermining the future of the United States, and when we lose another one of their endless wars, the financial capital will shift from New York to Beijing. Just as war killed Britain, so will it kill the dollar and the United States.
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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
Centinel2012 