MCViewPoint

Opinion from a Libertarian ViewPoint

Posts Tagged ‘IMF’

From Sweden To Uruguay The Evidence Is Clear: Lockdown ‘Cure’ Worse Than The Disease

Posted by M. C. on July 28, 2020

IMF forces recipients to adapt disasterous Italian lockdown method.

Fauci on vaccine safety – don’t worry, be happy

Texas COVID (listen up PA) reported death reports lag actual death dates and make data look worse than reality.

 

Be seeing you

Posted in Uncategorized | Tagged: , , , | Leave a Comment »

The Global Reset – Unplugged. “The Deep State” – Global ResearchGlobal Research – Centre for Research on Globalization

Posted by M. C. on July 20, 2020

The WEF-masters are confronted with a real dilemma. Their plan depends very much on the dollar supremacy which would continue to allow dishing out sanctions and confiscating assets from those countries opposing US rule; a dollar-hegemony which would allow imposing the components of The Great Reset scheme, as described above.

https://www.globalresearch.ca/global-reset-unplugged/5716178

By Peter Koenig

Imagine, you are living in a world that you are told is a democracy – and you may even believe it – but in fact your life and fate is in the hands of a few ultra-rich, ultra-powerful and ultra-inhuman oligarchs. They may be called Deep State, or simply the Beast, or anything else obscure or untraceable – it doesn’t matter. They are less than the 0.0001%.

For lack of a better expression, let’s call them for now “obscure individuals”. 

These obscure individuals who pretend running our world have never been elected. We don’t need to name them. You will figure out who they are, and why they are famous, and some of them totally invisible. They have created structures, or organisms without any legal format. They are fully out of international legality. They are a forefront for the Beast. Maybe there are several competing Beasts. But they have the same objective: A New or One World Order (NWO, or OWO).

These obscure individuals are running, for example, The World Economic Forum (WEF – representing Big Industry, Big Finance and Big Fame), the Group of 7 – G7, the Group of 20 – G20 (the leaders of the economically” strongest” nations). There are also some lesser entities, called the Bilderberg Society, the Council on Foreign Relations (CFR), Chatham House and more.

The members of all of them are overlapping. Even this expanded forefront combined represents less than 0.001%. They all have superimposed themselves over sovereign national elected and constitutional governments, and over THE multinational world body, the United Nations, the UN.

In fact, they have coopted the UN to do their bidding. UN Director Generals, as well as the DGs of the multiple UN-suborganizations, are chosen  mostly by the US, with the consenting nod of their European vassals – according to the candidate’s political and psychological profile. If his or her ‘performance’ as head of the UN or head of one of the UN suborganizations fails, his or her days are counted. Coopted or created by the Beast(s) are also, the European Union, the Bretton Woods Organizations, World Bank and IMF, as well as the World Trade Organization (WTO) – and – make no mistake – the International Criminal Court (ICC) in The Hague. It has no teeth. Just to make sure the law is always on the side of the lawless.

In addition to the key international financial institutions, WB and IMF, there are the so-called regional development banks and similar financial institutions, keeping the countries of their respective regions in check.

In the end its financial or debt-economy that controls everything. Western neoliberal banditry has created a system, where political disobedience can be punished by economic oppression or outright theft of national assets in international territories. The system’s common denominator is the (still) omnipresent US-dollar.

“Unelected Individuals”

The supremacy of these obscure unelected individuals becomes ever more exposed. We, the People consider it “normal” that they call the shots, not what we call – or once were proud of calling, our sovereign nations and sovereignly elected governments. They have become a herd of obedient sheep. The Beast has gradually and quietly taken over. We haven’t noticed. It’s the salami tactic: You cut off slice by tiny slice and when the salami is gone, you realize that you have nothing left, that your freedom, your civil and human rights are gone. By then it’s too late. Case in point is the US Patriot Act. It was prepared way before 9/11. Once 9/11 “happened”, the Patriot Legislation was whizzed through Congress in no time – for the people’s future protection – people called for it for fear – and – bingo, the Patriot Act took about 90% of the American population’s freedom and civil rights away. For good.

We have become enslaved to the Beast. The Beast calls the shots on boom or bust of our economies, on who should be shackled by debt, when and where a pandemic should break out, and on the conditions of surviving the pandemic, for example, social confinement. And to top it all off – the instruments the Beast uses, very cleverly, are a tiny-tiny invisible enemy, called a virus, and a huge but also invisible monster, called FEAR. That keeps us off the street, off reunions with our friends, and off our social entertainment, theatre, sports, or a picnic in the park.

Soon the Beast will decide who will live and who will die, literally – if we let it. This may be not far away. Another wave of pandemic and people may beg, yell and scream for a vaccine, for their death knell, and for the super bonanza of Big Pharma – and towards the objectives of the eugenicists blatantly roaming the world – see this. There is still time to collectively say NO. Collectively and solidarily.

Take the latest case of blatant imposture. Conveniently, after the first wave of Covid-19 had passed, at least in the Global North, where the major world decisions are made, in early June 2020, the unelected WEF Chairman, Klaus Schwab, announced “The Great Reset”. Taking advantage of the economic collapse – the crisis shock, as in “The Shock Doctrine” – Mr. Schwab, one of the Beast’s frontrunners, announces openly what the WEF will discuss and decide for the world-to-come in their next Davos Forum in January 2021. For more details see this.

Will, We, The People, accept the agenda of the unelected WEF? Read the rest of this entry »

Posted in Uncategorized | Tagged: , , , , , , | Leave a Comment »

‘Grave concerns’ about Covid-19 immunity passports

Posted by M. C. on April 16, 2020

You have to admit it is a great way to secretly data bank DNA.

https://www.france24.com/en/20200416-grave-concerns-about-covid-19-immunity-passports

Text by: Tom WHEELDON

Trapped between the competing urgencies of saving lives from Covid-19 and avoiding economic calamity, some government officials have mooted “immunity passports” as a way through the impasse. But experts told FRANCE 24 that the necessary antibody testing is not reliable enough – and even if the scheme were feasible, it could create a dangerous incentive for some to acquire the virus in order to qualify for the passport.

The global tally of confirmed coronavirus cases surpassed 2 million on Wednesday – a day after researchers at the Harvard School of Public Health warned that the US may need to keep some social distancing measures until 2022, while the IMF predicted that, thanks to “the Great Lockdown”, the world will suffer the worst recession since the Great Depression.

Anxious about both the unfolding economic disaster and the risk of Covid-19 resurging if lockdowns are reversed prematurely, some officials in hard-hit countries have suggested that a system of immunity passports could be a route out of the coronavirus crisis – for some at least. The idea is that people who have already had the disease and thereby gained immunity could be given permits to live their lives mostly like they did before the pandemic.

Shortly after emerging from self-isolation after testing positive for Covid-19, the UK’s Health Secretary Matt Hancock announced in early April that the British government was considering an “immunity certificate” system to allow those who qualify to “get back as much as possible to normal life”.

Paris Mayor Anne Hidalgo has also given the idea her backing – putting it in a list of proposals for returning to business as usual in the City of Lights that she sent to the French government. On the other side of the Atlantic, Anthony Fauci, the director of the US National Institute of Allergy and Infectious Diseases, told CNN that immunity passports are “being discussed” in the Trump administration. “It might actually have some merit under some circumstances,” he added.

Antibody tests ‘not sufficiently accurate’

Immunity passports would require tests for antibodies specific to Covid-19, which would be different from those used to discern whether or not people currently have the virus. The problem is that, as things stand, these tests “are not sufficiently accurate for individual immunity passports”, which means that “we are still a long way off it being useful to test individuals with these methods”, said Claire Standley, an assistant professor at Georgetown University’s Center for Global Health Science and Security…

Be seeing you

 

 

 

 

Posted in Uncategorized | Tagged: , , , , , , , , | Leave a Comment »

Syria Is Lost. Lebanon’s Gold Is Next – LewRockwell

Posted by M. C. on November 6, 2019

https://www.lewrockwell.com/2019/11/no_author/syria-is-lost-lebanons-gold-is-next/

By Steve Brown

The largest reserve gold traders on the planet are the six bullion banks. A bullion bank is a large multi-national bank authorized to serve as a conduit through which Central Banks – and the Fed primary dealers – loan their gold out into the market. All central banks lease gold, to maintain their balance sheet and to provide sovereign collateral when a currency swap or paper trade won’t work. It’s called the gold carry trade.

There are currently six clearing banks on the LBMA handling gold lease transactions: Barclays, Scotia, Deutsche Bank, HSBC, JPM, and UBS all of which are primary Fed Dealer Banks, too. Central Banks need real money as collateral – physical gold holdings – to back paper (debt instruments) and as guarantor of foreign exchange sovereign liquidity, or when dealing with failed or semi-failed states.

The Bullion Banks not only guarantee and lease their own gold reserves, but require adjustments to physical gold holdings based on Geopolitical events particularly during times of war. For example, Libya, Afghanistan, Iraq, Syria, Egypt and the Ukraine have all turned over their physical gold holdings to the IMF – which acts by proxy for the Fed and G7 Central Banks – for favorable lending terms or settlement of debt to the West, or their gold is seized by force of arms.

Nixon officially closed the US international sovereign gold trading window in 1971, alleged to be temporary, now ostensibly never to re-open. Officially Nixon’s gold closure still applies to US gold trading, but the “official” world is not the real world. Thus, the US engages in covert gold trading shrouded in secrecy, generally by proxy to the IMF and via gold carry trade gold swaps.  (Also see: IMF voting rights and reform and the Exchange Stabilization Fund)

The international gold window is not about a “gold standard” but about international trade in gold. That trade is to support currency swaps to manipulate currency markets; to enhance interest returns by leveraging other debt products providing a higher return; or to build or deplete foreign exchange reserves held by a sovereign or Central Bank. Thus, the international gold window still exists in the form of the gold carry trade.

But the international gold window is much more than a trade and collateral window, the international gold window is still an essential factor in Geo-politics. Conflicts and alliances require the gold carry trade to operate by covert, by proxy, or by overt means. The gold carry trade market also operates by acquiring the gold reserves of failed states such as Iraq, Libya, Syria, Afghanistan, or Ukraine, at prices subsidized by the US taxpayer.

Or the cost of their lost treasure is borne by the unknowing, unaware local population partaking in a “colour revolution” or the “Arab Spring” for example, on behalf of Washington.

The banking crisis in Lebanon is one recent example, where geopolitics and finance – especially relating to gold – intersect. Lebanon has relatively high physical gold reserves relative to its economy and relative to other Middle Eastern states, and Lebanon has been a player in the carry trade for many years.

However, according to one confidential source and many reports, Lebanon has dialed-back its carry trade activities since 2015. By scaling back its carry trade activity, Lebanon has provoked the ire of western Central Banks, and made it more difficult for Lebanon to protect its currency.

The reason for Lebanon’s de-leveraging in the gold carry trade is unknown, but one can only speculate that along with US sanctions versus Lebanon, the international currency cartel has its eye on Lebanon’s gold reserves. By extension, The Neocon-Neoliberal ‘Blob’ believes that by harming Lebanon, the Blob can likewise curtail Hezbollah’s influence.

Israel too, currently subject to its own self-induced purgatory in leadership, desperately needs a visible geopolitical victory, and no doubt US and Israeli central bankers see Lebanon’s finance as low-hanging fruit, since Hezbollah cannot be militarily defeated. How do we know? …well, David Ignatius tells us so…

Germany

Germany demanded return of its gold reserves from New York (called repatriation).  In reality repatriation ends the lease conditions by which the Federal Reserve holds German gold. That Germany leased approximately 300 tonnes of gold to the US Exchange Stabilization Fund during the US financial collapse is well known, and the ESF undoubtedly disposed of that German gold by carry trade means, to support the US dollar and stock market. Effectively the US government may sell or lease any “commodity” as it sees fit, in its possession, whether strategic oil reserves or gold – even if that gold “belongs” to a foreign power…

Ukraine

Long a hotbed of corruption, shady dealings, and political intrigue, the Ukraine has leveraged its gold reserves via the carry trade and leasing system for many years now.  Falling prey to the IMF predatory system of capital is another Ukraine specialty, since Ukraine’s gold is its only real strategic asset, besides it location adjacent to Eastern Europe…

Argentina

Likewise, the IMF was the worst possible option for Argentina. Argentina was forced to sell 1/3rd of its physical gold reserves from 2009-2013, to prevent a replay of 2001 by placating US bond holders. Argentina’s gold reserves played a major role in keeping the country somewhat liquid, but now western powers want the rest of that gold – represented by bondholder lawsuits – since Argentina just defaulted again.

Netherlands

In 2014 the Dutch Central bank announced that 122 metric tonnes of gold had been repatriated from the United States. The DCB’s loss of confidence in the US likely relates to the collapse of the US financial system from 2008-2009.  It’s likely too that the Netherlands loaned some sovereign gold reserves to the Fed/ESF during that crisis, and has not seen its gold returned.

Venezuela

Half of Venezuela’s reserves are in gold. The structural and fundamental problem is that Venezuela cannot lease gold via the bullion banks because the physical gold was repatriated, and the gold still present in US /London vaults is sanctioned…

Summary

Trouble is, most of the third world and Non-Aligned Movement – with the exception of Iran, Lebanon, and Venezuela – have already turned over their gold to the West. So, there is little physical gold for Washington to cajole, appropriate, or steal from destabilized sovereign entities or failed states Washington creates…

Be seeing you

What if US had raised interest rates? | A Wild Duck

 

 

Posted in Uncategorized | Tagged: , , , , , | Leave a Comment »

Who Is Holding Back the Russian Economy? — Strategic Culture

Posted by M. C. on September 9, 2019

But those IMF rules are there to protect the IMF making the loans to the troubled nation, not to assist the troubled nation actually recover.

https://www.strategic-culture.org/news/2019/09/08/who-is-holding-back-the-russian-economy/

Tom Luongo

 

Russia’s economy has been a sore spot for more than two years now. Since the ruble crisis of late 2014 the role of the Bank of Russia has been to apply IMF-style counter-cyclical tightening to stabilize the situation in the wake of the decision to allow the ruble to float freely on the open market.

That was the right decision then. It was the move the US did not expect President Vladimir Putin to make. It was expected Putin would hold to his natural conservatism and keep the ruble trading in the 30’s versus the US dollar as opposed to risking a collapse in exchange rate in the face of an historic drop in oil prices over the eighteen months between July 2014 and the low made in late January 2016.

Oil dropped from $120+ per barrels to around $28 during that period. And if Putin hadn’t proactively allowed the ruble to fall from RUB32 to a high of RUB85 in early 2016 Russia would have been bankrupted completely.

During that time Bank of Russia President Elvira Nabullina raised the benchmark lending rate to 17.00% and Russia began the slow, painful process of de-dollarizing its economy.

It’s been five years since those dramatic times. But a lot of damage was done, not just to the Russian people and their savings but also to the mindset of those in charge at the Bank of Russia.

Nabullina has always been a controversial figure because she is western trained and because the banking system in Russia is still staffed by those who operate along IMF prescriptions on how to deal with crises.

But those IMF rules are there to protect the IMF making the loans to the troubled nation, not to assist the troubled nation actually recover. To explain this, I have to get a bit technical, so bear with me.

The fundamental problem is a miseducation about what interest rates are, and how they interact with inflation and capital flow. Because of this, the medicine for saving an economy in trouble is, more often than not, worse than the disease itself.

If Argentina’s fourth default in twenty years doesn’t prove that to you, nothing will.

Nabullina still believes that her job is to get inflation down to 4%. Inflation targeting, as central bank policy, is a disease that needs to be placed next to smallpox at the CDC in Atlanta.

It seems I have to write this article once every few months just to remind people what the problem is.

When inflation is above the target an austerity mindset dominates at the central bank who keeps interest rates above the market rate in the vain hope they can wring the last bits of inflation out of the economy, because sufficient confidence hasn’t returned to the banking system after the crisis.

This is Russia’s problem today. Nabullina still believes there’s work to be done before allowing the economy to grow.

When inflation is below the target, like in the ECB and the US, then to the miseducated central banker growth is sluggish and demands stimulus in the form of cheap money to create a virtuous credit cycle. It hasn’t worked and it won’t work.

Because both of these theories about the effects of inflation targeting are dead wrong.

They haven’t worked in the US and Europe because there is no more capacity within their economies to take on more debt to stimulate demand and increase spending. All they are doing is, as described by Mises and others, “pushing on a string” offering money no one wants at interest rates the market cannot sustain.

That cheap money inflates asset prices like stocks and bonds while diverting capital to long time-horizon projects like fracking in Texas, and housing and car loans, but it thieves working capital from the future by mispricing the risk of those projects in the form of the interest rate.

The net effect is enriching the already obscenely rich and powerful, through wealth transfer which feeds leftist and Marxist criticisms of the ‘free market’ while they proclaim the end of capitalism.

But central bank inflation targeting and control is the height of a centrally-planned economy. Control the value and cost of money and you control the means of production. So, capitalism this ain’t folks.

Miseducation on matters economic are commonplace today from the commanding heights to the lowest barrios.

Eventually, you reach the point we’ve arrived at in the west where no amount of forcing the market, through punitive negative rates, can stimulate growth. This is simply arrogant men praying at the altar of math torturing equations which have no resemblance to reality and turning it into policy.

On the other hand, we have Nabullina trained in this world of econometrics and its econo-babble, holding back the Russian economy with interest rates set above the market. She is either overly-cautious, if I’m being generous, or a full on fifth-columnist stifling growth to support Russia’s enemies, if I’m being cynical.

I think the truth lies somewhere in the middle, if I’m being fair. Today I’ll be fair.

The Russian economy, structurally, is in excellent shape. John Hellevig at the Awara group recently published an excellent report explaining the guts of what’s going on there. And John notes, like I have been for more than a year (here and here), that the Bank of Russia has interest rates too high given what the market is telling it.

It’s not that tough really, just look at the Russian yield curve and you can see what I’m talking about.

The current benchmark rate in Russia is 7.25%, down from 7.75% just two months ago (and that I’ll get to in a minute). The entire interbank market and short-term deposit market is trading below that benchmark rate.

This means the central bank is holding back a market that wants to trade at lower rates. This is keeping liquidity low and access to loans in the domestic and commercial market low as well.

Meanwhile, the demand for Russian debt, because as a country Russia’s balance sheet is so clean, in part due to Nabullina’s stewardship of the 2014-16 crisis period, is pushing rates lower. And for the first time in close to 5 years Russia has a normal positively-sloping yield curve from 1 year to 20 years, with no humps or flat spots.

Demand for Russian debt is finally market driven in a way that is predictable and can allow banks to make money paying short and lending long. This is how banks are supposed to make their money, not speculating on stocks and currencies!

Moreover, domestic savings rates at all maturities in the CD and money markets are below the benchmark rate, so Russian banks are under zero stress. High savings offer rates indicate a need to shore up reserves by attracting savings. It’s a bad sign.

Non-performing mortgage loans stand at less than 1%…. 1% !!

The only worry is the outstanding dollar-denominated debt, but that makes up around 1% of the total Russian mortgage market. It’s literally chump change.

I mean, for pity’s sake, what on god’s green earth is Nabullina waiting for? An engraved invitation from the Fed to the next convocation at Jackson Hole? She’s done her job, now let the Russian people do theirs.

Nabullina has kept rates high out of fear of inflation returning due to a rising US dollar and falling oil prices which is putting upward pressure on the ruble. She made an egregious policy error hiking rates in response to Trump’s crazy aluminum tariffs last year. And then held that level until June.

She’s only now just beginning to lower rates after the policy became ludicrous and Russian GDP growth has stalled. Again, incompetence and treason look very similar from a distance.

She keeps jumping at the shadows of a dollar-induced crisis. But the Russian economy of 2019 is not the Russian economy of 2015. Dollar lending has all but evaporated and the major source of demand for dollars domestically are legacy corporate loans not converted to rubles or euros.

So, the Russian economy is so much more insulated from a rise in the dollar than it was before.

The fundamental flaw in the thinking behind most central bankers, especially those trained by the IMF, is that lowering the cost of money stimulates growth and raising it reins it in. It’s an overly simplistic model to explain why we need philosopher kings like Nabullina, Mario Draghi and Jerome Powell to tinker with the economy and engineer growth and stability.

The reality is it’s more complicated than that, because access to capital means different things at different parts of the business cycle to different economies. And Russia’s role in the global economy is changing.

Russia is becoming an independent node in the global economy. Shut out of the US dollar markets, Russia now has to lead the part of the world it dominates – the EAEU, Turkey, Iran, the CSTO states – and show confidence by making the ruble more accessible to foreign investment.

Projecting confidence comes in the form of lowering rates to reflect a healthy domestic market, not keeping rates high because you’re afraid of the US

That yield curve I posted above is a picture of a central bank scared of the future, like Jerome Powell at the Fed, and not one sanguine about Russia’s future prospects. Powell has problems Nabullina doesn’t have, like hundreds of trillions in unfunded future liabilities that require much higher rates to stabilize.

Lowering interest rates in Russia from 7.25% to 6.5% or even 6% is likely all she needs to do and then let the markets take care of things from there. That’s what the market’s actually telling her.

And I believe Vladimir Putin has had enough of Nabullina’s fears. He’s getting more and more impatient with his central bank president. He sees the lack of growth of the Russian economy and wonders why capital formation is locked up behind a wall of overly-high interest rates.

Recently Putin sat down with Nabullina and right after that interest rates dropped 0.25%. The same thing happened in 2015 when she had rates stuck at 10% and Putin had to finally forced her to justify herself.

It’s clear that there is something wrong at the Bank of Russia; whether it’s Nabullina herself, her staff or the legacy of insipid and dangerous Western economic theories refusing to die, is beyond my knowledge.

The cynic in me says the foot-dragging by the Bank of Russia is the final vestige of US infiltration in Russia’s institutions rearing its ugly head. That fight is ongoing, but the recent drops in the benchmark rate are a good start.

Be seeing you

 

 

Posted in Uncategorized | Tagged: , , , , | Leave a Comment »

Christine Lagarde’s Move from IMF to ECB is Bad for Europe | Mises Institute

Posted by M. C. on July 6, 2019

Moving from one crime family to another.

https://mises.org/power-market/christine-lagardes-move-imf-ecb-bad-europe

Tho Bishop

Earlier today, the internet was aflutter with rumors that we were on the verge of an international crisis following schedule changes involving Russian President Vladamir Putin and Vice President Mike Pence. While it appears there two events were unrelated, a different sort of tragedy struck the international stage hours later when it was announced that Christine Lagarde had been named the new head of the European Central Bank.

Joining the ECB after a lengthy stint as head of the IMF, Lagarde certainly has the resume to be the next “great” central banker. Unfortunately, she has a record of folly which we’ve come to expect from such a title.

In the words of our friend Mike Shedlock, “It’s rare to find someone who is consistently wrong on everything. Christine Lagarde…comes close”

A conventional policymaker that fears deflation most of all, Lagarde has been a high profile defender of the negative interest rate policies we’ve seen doing damage in Europe and Japan. Her selection is being widely seen as an endorsement for continuing the policies of the outgoing Mario Draghi at a time when the ECB desperately needed a hawk to help defuse their trillion-Euro time bomb.

As Daniel Lacalle put it:

Read more: The ECB Continues to Incentivize Reckless Behavior by Daniel Lacalle

Earlier this year, Alasdair Macleod outlined the damage being done by the policies Lagarde is expected to continue.

Pumping yet more credit into the Eurozone is as effective as giving adrenalin to a dead horse. Lack of credit is not the problem. Put simply, there is a global momentum of economic contraction evolving, which any business and lending banker would be foolish to ignore. There is a developing crisis, the consequence of earlier monetary inflation in the credit cycle. Economic actors may not understand the origins of the crisis, but we can be certain they are becoming acutely aware of its looming presence. And as the crisis rapidly develops, those that require additional loans will already be insolvent.

The signal sent by the ECB to lending-bankers is likely to be misinterpreted when credit contraction is the looming threat: if TLRTO-III is the smoke, there must be a fire, possibly out of control. Better surely to call in existing loans to businesses rather than waiting to be repaid from profits unlikely to materialise. An encouragement to lend early in the credit cycle is more effective and less likely to be misunderstood than a similar encouragement later in the credit cycle. This is why a renewed TLTRO policy will almost certainly fail.

The inability of bureaucrats, with their heads buried in spreadsheets, to appreciate the role of human psychology is not the ECB’s only failing. Its executives do not even understand what interest rates represent, thinking it is simply the price of money. This is why it believes in keeping interest rates suppressed as a means of increasing credit. Earlier in the credit cycle, rate suppression does generate some credit expansion, mainly in financial rather than non-financial activities, because lower interest rates lead to higher prices for financial assets. That is basically a spreadsheet, almost non-human function. Large industrial corporations are opportunist, borrowing to fund buy-backs and to take over weaker rivals. Smaller and medium-sized business borrowers are usually offered credit only later in the cycle, when it is a mistake to accept it.

Consequently, in a zombie economy, such as that of the Eurozone, the only borrowers are wealth-destroying, socialising, debt-entrapped governments, taking full advantage of the Basel accords, which rates them for lending banks’ purposes as riskless borrowers…

Be seeing you

Printing Press - HISTORY

 

Posted in Uncategorized | Tagged: , , , | Leave a Comment »

IMF’s Christine Lagarde Wins EU Support to Lead European Central Bank

Posted by M. C. on July 3, 2019

In 2016, a French court found her guilty of committing negligence in 2008 when she was finance minister in the cabinet of former President Nicolas Sarkozy. The judge didn’t hand down a punishment, saying the ruling took into context the role Ms. Lagarde played in crafting France’s response to the global financial crisis. The IMF backed her, as did the French government.

Pro inflation and fiat money. Her middle name is ‘one world government’.

Her other face looks like George Soros.

The status quo will be safe. Don’t know about the citizenry that pays the bills.

https://www.wsj.com/articles/imfs-christine-lagarde-wins-eu-support-to-lead-european-central-bank-11562087529

By

Valentina Pop and
Brian Blackstone

BRUSSELS—International Monetary Fund chief Christine Lagarde is likely to become the first woman to run the European Central Bank, putting an experienced crisis fighter in charge and paving the way for a continuation of easy-money policies.

Ms. Lagarde also would be the institution’s first president without a pedigree in central banking. That has raised doubts about whether she would command the same credibility in financial markets as current chief Mario Draghi, who emerged as a dominant figure in the global economy during his nearly eight years at the ECB.

Her nomination comes as central bankers face challenges on a number of fronts. Inflation has weakened below target in many developed economies including the eurozone, while trade conflicts have crimped economic growth. But central bank rates are already super low or—in the case of Europe and Japan—negative, which spurs lending by reducing borrowing costs and making it unattractive to hold deposits…

Be seeing you

mark of the beast

The Mark of the Beast

Posted in Uncategorized | Tagged: , , , , | Leave a Comment »

Assange Arrested, Brexit Squashed – Just Another Day in the Empire – Gold Goats ‘n Guns

Posted by M. C. on April 16, 2019

https://tomluongo.me/2019/04/12/assange-arrested-brexit-squashed-just-another-day-in-the-empire/

And down goes Julian Assange, right beside Brexit. If there was ever any doubt that The Powers That Be are unrelenting in their cruelty just look at the 24 hours starting on Wednesday.

First Theresa “The Snake Oil Lady” May kicks 17.4 million voters into the weeds.

And then she oversees the arrest and judging of Wikileaks founder Julian Assange.

The timing of this is important beyond dovetailing it with her Brexit betrayal. They had to go after Assange now, because Theresa May’s time in office is ending.

A Jeremy Corbyn-led government would not grant the U.S. it’s prize.

Corbyn, for all of his faults, would be a breath of fresh air in the unraveling of the ‘special relationship’ between the U.S. and U.K. in foreign policy for as long as he lasted in office.

Still think Theresa works for anyone other than her owners?…

But nothing surprises me about the evil of Theresa May anymore. Read the rest of this entry »

Posted in Uncategorized | Tagged: , , , , , , , , | Leave a Comment »

Australia Inserting Nano-Chips in $50 & $100 Bills to Track Underground Economy & Coming Barter System | Armstrong Economics

Posted by M. C. on January 4, 2019

The IMF is advocating the end of paper money to kill the underground or black economy solely to aid the hunt for taxes and to PREVENT bank runs. If there is no paper money, how can you run to the bank in a panic demanding to withdraw your money? 

https://www.armstrongeconomics.com/armstrongeconomics101/economics/australia-inserting-nano-chips-in-50-100-bills-to-track-underground-economy-coming-barter-system/

by Martin Armstrong

While the BitCoin people have hated me for not agreeing with them that a private currency could displace the currencies of all nations and BitCoin would be the new “reserve currency” killing the dollar, to me they are in serious need of help. They have ZERO comprehension of governmental power and ZERO understanding of what is going on behind the curtain. The IMF has come out and stated that each nation should issue their own cryptocurrency and these fools cheers claiming I am not with it and do not get this new age of technology. Sorry, but these people are really clueless if not perhaps undercover people with a mission to get people willing to surrender their final liberty – paper money.

While cryptobugs advocate gold is dead and BitCoin will conquer the financial world, they miss the point entirely. The IMF is by no means embracing cryptocurrencies for the same reason these people have claimed it will bypass central banks. The IMF is advocating the end of paper money to kill the underground or black economy solely to aid the hunt for taxes and to PREVENT bank runs. If there is no paper money, how can you run to the bank in a panic demanding to withdraw your money? They also argue eliminating paper money will end crime… Read the rest of this entry »

Posted in Uncategorized | Tagged: , , , , , | 1 Comment »

The Myth of Western Democracy – PaulCraigRoberts.org

Posted by M. C. on December 18, 2018

The question before us is whether the Western peoples are too brainwashed, too firmly locked in The Matrix, to exhausted to stand up and defend their freedom.

https://www.paulcraigroberts.org/2018/12/16/the-myth-of-western-democracy/

Paul Craig Roberts

How does the West get away with its pretense of being an alliance of great democracies in which government is the servant of the people?

Nowhere in the West, except possibly Hungary and Austria, does government serve the people.

Who do the Western governments serve? Washington serves Israel, the military/security complex, Wall Street, the big banks, and the fossil fuel corporations.

The entirety of the rest of the West serves Washington.

Nowhere in the West do the people count. The American working class, betrayed by the Democrats who sent their jobs to Asia, elected Donald Trump and the American people were promptly dismissed by the Democratic candidate Hillary Clinton as “the Trump deplorables.”

The Democrats, like the Republicans, serve power, not the people.

In Europe we see the squashing of democracy everywhere.

British prime minister May has turned Brexit into subservience to the EU. She has betrayed the British people and has not yet been hung off of a lamp post, which shows how acceptance the British people are of betrayal. The British people have learned that they do not count. They are as a nothing.

The Greeks voted for a leftwing government that promised to protect them from the EU, IMF, and big banks, but promptly sold them out with austerity agreements that destroyed what remained of Greek sovereignty and Greek living standards. Today the EU has reduced Greece to a Third World country.

The French have been in the streets in revolt for weeks against the French president who serves everyone except the French people…

The question before us is whether the Western peoples are too brainwashed, too firmly locked in The Matrix, to exhausted to stand up and defend their freedom. Resistance is happening in France and Belgium, but the government that sold out Greece hasn’t been hung off of lamp posts. Americans are so brainwashed that they think Russia, China, Iran, Syria, North Korea, and Venezuela are their enemies when it is perfectly clear that their Enemy is “their” government in Washington.

Except for my American readers, Americans are locked in The Matrix. And they will kill in order to stay in The Matrix, where the controlled explanations are reassuring. Anyone who looks to Washington for leadership is an idiot.

Washington is a master of propaganda. Washington’s propaganda has even infected the Russian government, which from all reports stupidly believes that accommodation to Washington is the secret that will make Russia successful.

It is a foolish government that relies on agreements with Washington.

What it comes down to is this: If acceptance of provocations avoids war, that is the correct policy, but if acceptance of provocations encourages more provocations until war is unavoidable, then a more robust response to provocations is the correct policy. A more robust response introduces caution into the process, whereas acceptance of provocations encourages the aggressor.

Be seeing you

sheeple

Posted in Uncategorized | Tagged: , , , , | Leave a Comment »