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Clifford Taylor Fleischbein has been in full-time self-employment since 1975 earning revenue as a entrepreneur consultant, with the most recent passage of twenty years generating income from On-demand services for Information technology consulting, Database Management, Marketing, Change Management, and Customer relationship management job projects.

Iran calls out the US and EU before the IMF and the World Bank

Iran calls on U.S., EU to help it access global financial system

Markets | Fri Apr 15, 2016 1:52pm EDT
A staff member removes the Iranian flag from the stage during the Iran nuclear talks in Vienna, Austria July 14, 2015. REUTERS/Carlos Barria
A staff member removes the Iranian flag from the stage during the Iran nuclear talks in Vienna, Austria July 14, 2015. REUTERS/Carlos Barria

 

Iran on Friday called on the United States and the European Union to help it access the global financial system, including assets that Tehran says were supposed to be unfrozen following its historic nuclear deal with major international powers.

“They need to do whatever is needed to honor their commitments,” Iranian central bank Governor Valiollah Seif said at an event on the sidelines of the International Monetary Fund and World Bank spring meetings in Washington.

“Otherwise the JCPOA (Iran nuclear deal) breaks up under its own terms,” he said.

Seif met with U.S. Treasury Secretary Jack Lew on Thursday and said they discussed Iran’s expectations under the July 2015 nuclear agreement. Under that deal, Iran agreed to limit its nuclear program in exchange for improved access to the global economy, including the dropping of certain economic sanctions.

Lew told Seif at that meeting that the United States would keep meeting “its sanctions-related commitments in good faith” as long as Iran continues to uphold its end of the bargain, a Treasury official said in a statement.

Iran is increasingly exacerbated that few trade deals are going through as foreign banks shy away from processing transactions with the country even after the nuclear-related sanctions were lifted.

“In general we are not able to use our frozen funds abroad,” Seif said.

Iranian hopes of rapidly ending the country’s economic isolation are fading as European banks in particular, some of which have already been hit by hit huge U.S. fines for sanctions busting, fear falling afoul of the many other restrictions imposed by Washington that remain in force.

“We want both sides of this agreement, especially the U.S., to take the required measures to remove the obstacles,” Seif said.

He urged Iran’s partners in the deal to hold more “face-to-face contacts” with international bankers to assure them they won’t be penalized for working with Tehran. He said the United States needed to make changes to its laws and regulations to give Iran access to the U.S. financial system.

U.S. banks are still forbidden to do business with Iran. While lenders based elsewhere are not covered by this ban, major problems remain, mainly rules prohibiting transactions in dollars from being processed through the U.S. financial system.

(Reporting by Jason Lange; Editing by Paul Simao)

White House Response: Access to global financial system not part of Iran nuclear deal

Politics | Fri Apr 15, 2016 1:52pm EDT
White-house-Iran-response
White House Press Secretary Josh Earnest says “the agreement that’s included in the JCPOA does not include giving Iran access to the US financial system.”

An agreement with Iran aimed at preventing it from developing nuclear weapons does not include giving it access to the global financial system, the White House said on Friday.

The comment from a White House spokesman at a regular news briefing followed a request by Iran’s central bank governor earlier on Friday for the United States and European Union to help Iran access to the global financial system.

(Reporting by Roberta Rampton; Editing by Chizu Nomiyama)

http://presstv.ir/Detail/2016/04/15/460963/US-Iran-nuclear-deal-sanctions-JCPOA/

The United States says the Iran nuclear deal does not include any provision that allows the Islamic Republic to have access to the US financial system.

The deal, known as the Joint Comprehensive Plan of Action (JCPOA), was struck between Iran and the P5+1 – the United States, France, Britain, China, Russia and Germany – on July 4, 2015.

After the two sides started to implement the JCPOA on January 16, all nuclear-related sanctions imposed on Tehran by the European Union, the Security Council and the US were lifted. Iran has, in return, put some limitations on its nuclear activities.

On Friday, White House Press Secretary Josh Earnest said “the agreement that’s included in the JCPOA does not include giving Iran access to the US financial system or to allow the execution of so-called U-turn transactions.”

Earnest’s remarks came after Head of Iran’s Central Bank Valiollah Seif, who is in Washington for the spring meetings of the International Monetary Fund and the World Bank, said earlier in the day that the US and its European allies “need to do whatever is needed to honor their commitments.”

“If it means more face-to-face contacts with the international banks assuring them they do not penalize them working in Iran, if it means making changes to the laws and regulations to give access to the US financial systems — allow U-turn, whatever is needed — they need to do,” Seif added.

Earnest said that “the United States, along with the rest of the international community, is committed to living up to our end of the bargain.”

In addition, US State Department spokesman John Kirby said Washington has already fulfilled its part of the nuclear deal.

“There is no need to do more, when we have met all of our commitments,” Kirby told reporters later in the day.

On April 6, US Secretary of State John Kerry said that Iran deserves access to the US financial system because it had met its obligations under the nuclear agreement.

“It’s fair for Iran to get what it deserves because it kept its part of the bargain to date, with respect to the nuclear agreement,” Kerry said during an interview on MSNBC.

US banks are still banned from dealing with Iran as part of an old US trade embargo that still remains in place. Accordingly, this is believed to have already effectively blocked any transactions with Iran which is based on US dollars because they would ultimately have to be cleared in the US.

Indications had been specifically growing lately that a legacy of hefty fines by the US on banks that are caught for violating Iran sanctions is deterring businesses from trading with Iran.

Meanwhile, Republicans have charged the Obama administration with trying to allow dollar-denominated transactions with Iran that are done through foreign banks, and say that concession goes against the will of Congress.

Last month, a group of US Republican senators also introduced legislation to impose new sanctions against Iran over what legislators have described as Tehran’s “support for terrorism and human rights violations,” accusations that have been vehemently denied by Iran.

Trump is Inspiring – Just Listen and Hear

“Mad Prophet of the Airwaves” Howard Beale (Peter Finch) “we deal in illusions” speech.

Because less than three percent of you people read books. Because less than fifteen percent of you read newspapers. Because the only truth you know is what you get over this tube. Right now, there is a whole, an entire generation that never knew anything that didn’t come out of this tube. This tube is the Gospel. The ultimate revelation! This tube can make or break Presidents, Popes, Prime Ministers. This tube is the most awesome, god-damn force in the whole godless world. And woe is us if it ever falls into the hands of the wrong people.

And when the twelfth largest company in the world controls the most awesome, god-damn propaganda force in the whole godless world, who knows what s–t will be peddled for truth on this network.

So, you listen to me. Listen to me! Television is not the truth. Television’s a god-damned amusement park. Television is a circus, a carnival, a travelling troupe of acrobats, storytellers, dancers, singers, jugglers, sideshow freaks, lion tamers, and football players. We’re in the boredom-killing business. So if you want the Truth, go to God! Go to your gurus. Go to yourselves! Because that’s the only place you’re ever gonna find any real truth. But, man, you’re never gonna get any truth from us. We’ll tell you anything you wanna hear. We lie like hell. We’ll tell you that, uh, Kojak always gets the killer and that nobody ever gets cancer at Archie Bunker’s house. And no matter how much trouble the hero is in, don’t worry. Just look at your watch. At the end of the hour, he’s gonna win. We’ll tell you any s–t you want to hear.

We deal in illusions, man. None of it is true! But you people sit there day after day, night after night, all ages, colours, creeds. We’re all you know. You’re beginning to believe the illusions we’re spinning here. You’re beginning to think that the tube is reality and that your own lives are unreal. You do whatever the tube tells you. You dress like the tube, you eat like the tube, you raise your children like the tube. You even think like the tube. This is mass madness. You maniacs. In God’s name, you people are the real thing. We are the illusion. So turn off your television sets. Turn them off now. Turn them off right now. Turn them off and leave them off. Turn them off right in the middle of this sentence I am speaking to you now. Turn them off!!!

 

I am on twitter @DefendingtheUSA – Never mind the lies and distortion of the corrupt Liberal Media. This time, the American People will follow the truth.

ADAPTED from Crippled America by Donald J. Trump

This audio-book will explore Trump’s view on key issues including the economy, big CEO salaries and taxes, health care, education, national security, and social issues.  Of particular interest will be his vision for complete immigration reform, beginning with securing the borders and putting American workers first.

Metamorphosis – Iron Butterfly (1971)

Iron Butterfly 2012 (THE FINAL PERFORMANCE) with Original founding members (In a Gadda da Vida)

Lee Dorman, bassist for Iron Butterfly, died on Friday December 21, 2012 at the age of 70, the Associated Press reports. According to a spokesman for the Orange County Sheriff’s Department, Dorman was found dead in a vehicle on Friday morning and may have been on his way to a doctor’s appointment.

Dorman was born in St. Louis, Missouri, in 1942. He joined the Southern California-based Iron Butterfly for its second and best-known album, In-a-Gadda-Da-Vida, which was released in 1968. The 17-minute title track helped the album sell more than 30 million copies, and a three-minute version of the song became a Top 40 hit.

2012 In Memoriam: Musicians We Lost
During Iron Butterfly’s temporary break-up in the 1970s, Dorman and guitarist Larry Reinhardt formed the metal-jazz fusion band Captain Beyond, with Rod Evans from Deep Purple. The group released three albums and had a radio hit with the 1973 song “Sufficiently Breathless.”

Iron Butterfly 2012 (In A Gada Da Vida) Preformance at The Mt. Tabor Theatre Portland Oregon with Founding Members Lee Doorman (Bass Guitar) and Ron Bushy (Drums)

Metal-Jazz Fusion band: Captain Beyond

25 Little Known Facts About Forrest Gump.

Forrest Gump, made in 1994, is heartbreaking, odd, and beautiful. Breath taking performances by a stellar cast of actors guarantees this film to be a delight every time.


1/25. Bill Murray, John Travolta and Chevy Chase turned down the role of Forrest Gump. Travolta later admitted that passing on the role was a mistake.

2/25. Tom Hanks’ younger brother Jim Hanks doubled for him in many of his numerous running sequences.

3/25. Tom Hanks signed onto the film after an hour and a half of reading the script but agreed only to take the role if the film was historically accurate. He initially wanted to ease Forrest’s pronounced Southern accent, but was eventually persuaded by director Robert Zemeckis to portray the heavy accent stressed in the novel and patterned his accent after Michael Conner Humphreys (young Forrest) who actually talked that way.

 

 

4/25. Tom Hanks wasn’t paid for the film. Instead he took percentage points which ultimately netted him in the region of $40 million.


5/25. When Forrest gets up to talk at the Vietnam rally in Washington, the microphone plug is pulled and you cannot hear him. According to Tom Hanks, he says, “Sometimes when people go to Vietnam, they go home to their mommas without any legs. Sometimes they don’t go home at all. That’s a bad thing. That’s all I have to say about that.”


6/25. The line, “My name is Forrest Gump. People call me Forrest Gump,” was ad libbed by Tom Hanks while filming the scene. Director Robert Zemeckis liked it so much that he decided to keep it in

7/25. With every transition of Forrest’s age, one thing remains the same – in the first scene of each transition he wears a blue plaid shirt.

8/25. Forrest and Dan’s Shrimp Emporium “Bubba Gump”, is now a themed restaurant in 33 locations around the world in the U.S., Japan, China, Mexico, Malaysia, Philippines, Indonesia and the UK. There is one in Orlando, Florida, at the entrance to the Universal theme parks, at the Anaheim Gardenwalk in walking distance from Disneyland Park in Anaheim, California in the Los Angeles area and at Pleasure Pier in Galveston, Texas.

9/25. When Forrest first learns to play ping-pong in the infirmary, he is told the trick is to “keep his eye on the ball” by another soldier. After that moment, whenever he is shown playing ping-pong, he never blinks.

 

 

10/25. The actor who plays the reporter on the scene when Tom Hanks visits Washington DC after his tour in Vietnam was, himself, an actual tourist from Atlanta, Georgia. He happened to be on Capitol Hill that day with his wife, and was asked to read.


11/25. Many of the extras in the hippie scene were actors from the Maryland Renaissance Festival, since the casting director Ellen Lewis realized that would be a good source of performers with long hair.


12/25. Gary Sinise’s lower legs were wrapped in a special blue fabric that allowed them to be digitally removed later.

13/25. During the ping-pong matches, there was no ball; it was entirely CGI, animated to meet the actors’ paddles.

14/25. The running scene was inspired by an actual event. In 1982, Louis Michael Figueroa, aged 16, ran from New Jersey to San Francisco for the American Cancer Society, unknowingly inspiring a line for Forrest Gump’s famous run on the silver screen. “I just put one foot in front of the other,” it goes. “When I get tired I sleep. When I get hungry I eat. When I have to go to the bathroom, I go.”

15/25. The park bench that Tom Hanks sat on for much of the movie was located in historic Savannah, Georgia, at Chippewa Square. The fiberglass bench he sat on, since then, has been removed and placed into a museum to avoid being destroyed by bad weather, or possibly stolen. The church where the feather first falls was about 100 yards just down the street from the bench. To this day, the bench is held in the Savannah History Museum, Savannah, Georgia.

 

 

16/25. Gump’s Medal of Honor ceremony uses the footage of the actual ceremony for Sammy L. Davis, who was awarded the Medal of Honor on 19 November 1968 by President Lyndon Johnson for his actions in Vietnam a year earlier. Tom Hanks’ head was superimposed on Davis’ body.

17/25. When Lt. Dan Taylor first meets Forrest and Bubba in Vietnam, he says, “You must be my FNGs”. Generally speaking, this stands for “F*ckin’ New Guys”.

18/25. Every still picture of Forrest during this film shows Tom Hanks with his eyes closed.

19/25. Robin Wright was sick with a cold while shooting the nightclub scene. In spite of this, she was still able to perform her own singing during a non-stop twenty-four hour shoot in which she was nearly nude except for her guitar.

20/25. David Alan Grier, Ice Cube and Dave Chappelle turned down the role of Bubba. Cube refused to play someone with a disability and Chappelle thought the movie would bomb. Chappelle has since admitted to deeply regretting not taking the role.

21/25. Kurt Russell has said that he did the voice of Elvis Presley (uncredited) in the film, reprising his role from Elvis (1979).

22/25. The shrimp boat used in the film now resides in the moat surrounding the Planet Hollywood restaurant in Downtown Disney, at the Disney World Resort in Florida. Also, one of the ping-pong paddles used in the film is signed by Tom Hanks and hung up on one of the walls inside the restaurant.

 

 

23/25. On the day that Tom Hanks shot the football running scenes he had been suffering from influenza.

24/25. Sally Field is only ten years older than Tom Hanks.

25/25. When this film became wildly successful, talk of a sequel naturally arose. However, at the time, Tom Hanks adamantly refused to work in any sequel (and making the sequel with another actor was not a consideration).

Age 75+ Long-Term Care Plan: Medicare – Part G – Nursing Home Alternative

Medicare – Part G – Nursing Home Plan
MediCare with Plan G (gun)

A zero premium, no deductible Long -Term Health Care Plan

If you are an older senior citizen (75 or older) who can no longer take care of yourself and need Long-Term Care, but the government says there is no nursing home care available for you, what can you do?

Opt for Medicare Part G.

Part G gives the older senior citizen (75 or older) a Gun (Part G) and one bullet. You are allowed to shoot one worthless politician. This means you will be sent to prison for the rest of your life where you will receive a roof over your head, central heating and air conditioning, three meals a day, cable TV, a library, and all the health care you need including dentures, glasses, hearing aids, new hip, knees, kidney, lungs, heart or sex change. They are all covered!

As an added bonus, your kids can come and visit you at least as often as they do now. Who will be paying for all of this? The same government that just told you they can’t afford to provide nursing home care for you.

This plan allows you to get rid of a useless politician, and as a prisoner you don’t have to pay any more income taxes!

Spirit In The Sky

Norman Greenbaum

When I die and they lay me to rest
Gonna go to the place that’s the best
When I lay me down to die
Goin’ up to the spirit in the sky
Goin’ up to the spirit in the sky
That’s where I’m gonna go when I die
When I die and they lay me to rest
Gonna go to the place that’s the best

Prepare yourself you know it’s a must
Gotta have a friend in Jesus
So you know that when you die
He’s gonna recommend you
To the spirit in the sky
Gonna recommend you
To the spirit in the sky
That’s where you’re gonna go when you die
When you die and they lay you to rest
You’re gonna go to the place that’s the best

I’ve been a sinner Yes I’ve  sinned
But I got a friend in Jesus
So you know that when I die
He’s gonna set me up with
The spirit in the sky
Oh set me up with the spirit in the sky
That’s where I’m gonna go when I die
When I die and they lay me to rest
I’m gonna go to the place that’s the best
Go to the place that’s the best

Money Is Coming To Me

Money is coming to me
Money is coming to me
Money keeps coming to me
Money is coming to me

Money is coming to me
Money keeps coming to me
Money is coming to me
Money keeps coming to me

Money is coming to me
I just feel it, and i belive
It’s coming to me now,
And i’m not worried about how, ooo yee,
Money, is coming to me,

The Universe is working for me,
I just feel it, and i belive
Is working for me now,
And i’m not worried about how, ooo yee…
Money, is coming to me,

More then enough to live,
More then enough to give,
More then enough to share,
Feel like it’s already here,

More then enough to shop,
More then enough to drop,
More then enough to save,
There’s plenty left over to give away.

Money is coming to me
I just feel it, and i belive
It’s coming to me now,
And i’m not worried about how, ooo yee,
Money, is coming to me,

The Universe is working for me,
I just feel it, and i belive
Is working for me now,
And i’m not worried about how, ooo yee…
Money is coming to me, well

More then enough to live,
More then enough to give,
More then enough to share,
Feel like it’s already here,

More then enough to shop,
More then enough to drop,
More then enough to save,
There’s plenty left over to give away.

Money is coming to me
I just feel it, and i belive
Is coming to me now,
And i’m not worried about how, ooo yee,
Money, is coming to me,

Come on,…come on,come on,come on,

I believe it
I just feel it, and i believe,
Is coming to me now,
And i’m not worried about how, ooo yee…
Money is coming to me

Come on,…come on,come on,come on,

I believe it, and i recive it,
And life is already here….

Maverick: The Rock Love Gangster

The Gangster Is Back

Look out, the gangster’s back
I done traded in my old horse for a brand new Cadillac
I’m gonna play some blues
Cause I know you like that
Gonna get real loose
And do the jumpback jack

When I walk into a bar
Girls from near and far
Say I’m the gangster

Listen while a play for you
A crazy little thing called guitar blue
Red, black, yellow, or white
It don’t matter mamas
You’re all outta sight
Don’t get too heavy
Now don’t get uptight
Cause the gangster’s here to turn on your light
You’re my horse and you never win a race
And I dig you mama and your real crazy legs

When I walk into a bar
Girls from near and far
Say I’m the gangster

Do do do do do do
Do do do do do do
Do do do do do do
Do do do do do do
Go gangster (do do do do do)
Go gangster (do do do do)
Go gangster (do do do do do)
Go gangster (do do do do)
I’m a gangster

Started long time ago
Down in Texas where the guitars grow
Folks down there got all shook up
When I cut myself loose and did my stuff
Now it’s ready, set
Ready, set go
Time for the gangster to start the show

Well, I’m lookin’ for women
I’m on the road again
You know the gangster don’t lose
He always win

When I walk into a bar
Girls from near and far
Say I’m the gangster

You better look out the gangster’s back

Blues Without Blame

I ask my baby for a nickel
She gave me a twenty dollar bill
I ask her for a drink of whiskey
And she gave me a liquor still

Whoa, yeah yeah yeah
What can a poor boy do
Ain’t it hard, ain’t it hard
When you have to live the blues

I call my baby on the telephone
She said come on over Stevie I’m all alone
I said I can’t get my car started mama

Whoa, yeah
What can a poor boy do
When he has to live the blues

And while my baby’s makin’ it with my best friend
I know I’m being used, yeah yeah yeah

Lord have mercy
Lord have mercy on me
Lord have mercy
Lord have mercy on me, yeah

I’m tryin’ to find my babe
Won’t somebody please, yeah yeah
Won’t somebody please bring her home to me

Love Shock

Meet me at the station about a quarter past five
That’s about the time that I come alive, yeah
Don’t make sense if it ain’t the real thing y’all
Nothing but the real thing makes my bell ring

Love me baby, won’t you love me please
You got me down here on my knees, yeah
I’m so glad that I’m still alive
Come on baby, won’t you make me feel good now

Come on baby now don’t be too slow
Now I’m in a hurry, you know I got to go
Don’t make sense if you don’t know how to move
I’m a natural born lover, I was born in a groove, yeah
Oooh

[Spoken:]
It’s Jumpin’ Jack Flash on the drums

Let Me Serve You

Oh baby, don’t you want a man like me
Oh baby, don’t you want a man like me
Think about your future
Forget about your used to be

Just a little bit of rock
Just a taste or two of roll
I’ll give you sweet inspiration
Till it satisfies your soul

Oh baby, don’t you want a man like me
Let me serve you pretty baby
Serve you until you’re free

Let me serve you in the morning
Let me serve you in the afternoon
I want to love you pretty mama
Underneath the silvery moon

Oh baby, don’t you want a man like me
Let me serve you pretty baby
Think about what could be
Yeah, yeah, yeah, yeah, yeah…..

Rock Love

Do do do do doot
Do do do do doot
Do do do do doot
You got to have rock love
To weather the storm
It’s got to be rock love
To help you carry on

When the winds of temptation move your soul
Stay with me now, don’t you let it go
I told you so

Rock love will weather the storm
You got to have rock love to hear your song
It’s got to be rock love, yeah
To make you strong

When everybody puts you down
The rock of love will be around
It’s solid ground

Rock love will weather the storm
Rock love, yeah, will help you carry on
Sweet Jesus will see you through
Your trials, tribulations too

No matter how far you go
Still I will love you so
I told you so

Rock love will weather the storm
Yeah

Harbor Nights

I can see the harbor lights
Looks like the fourth of July
Maybe Christmas night
Reflected in water

In my cell, behind this wall
I share my time
With many a soul who is lost
Why must I always be a loser
Why can’t I ever be a winner

So as time
Goes rolling by
I lose my chance
It’s only one life
If I had the wings of an angel
O’er these prison walls I would fly
Straight from the darkness into the light
Why must I always be a loser
Why can’t I ever be a winner

[Spoken:] My dearest darling, as I’m writing you this letter
They’re coming to take me away
They’re beginning to shave my head now, sweetheart
But as their doing it
I just want you to know
That I wouldn’t have it any other way
I’m glad that I killed your mother
She was a low-down dirty old hag
But in the end darling
You will get your revenge
Because you see
Their gonna send you my belongings
In a plastic bag

La, la, la
A plastic bag

Deliverance

Johnny ‘Guitar’ Watson: Gangster of Love

I Wanna Ta Ya You, Baby (Johnny ‘Guitar’ Watson)

The Whole 1977 Johnny ‘Guitar’ Watson show

Trump’s Purpose Overthrows the Political Establishment for Multilateral Global Reserve Currency

By JC Collins

Source: http://philosophyofmetrics.com/trump-and-the-international-banking-interests-freepom/

Reader and friend Michael recently asked the following question regarding the Trump movement and its possible purpose.  I’ve included the question and my response for general consumption, as I think there will be many additional questions and concerns in the coming months.

Michael commented and asked:

“Trump is a Zionist controlled by Israel. Total PSYOP, along with Sanders. This is their reverse phycology trick on getting all the pissed off Americans thinking they are getting the outlandish renegade outsider. They are laughing at everyone who is buying it. If they were really scared of Trump, they’d have a near media blackout on him. Right?”

J.C. Collins response was: 

“Michael, I’ve been somewhat quiet on the Trump thing as I think it through.  You are right about the media coverage.  Though I could also make the argument that the media gave him a lot of attention in the hope that he would self-destruct and make the other establishment candidates look more official and presidential.  The whole approach has backfired and now he cannot be ignored.  Hard to have a media blackout on the front runner.  Better to give him wall-to-wall coverage in the hope of creating Trump fatigue and driving voters back to the establishment.”

“Personally I like the Trump movement.  I feel it resonates with my values and what I see for the future of both the US and Canada.  Outside of that, I am considering the possibility that the purpose of Trump is to overthrow the political establishment within the US and set the country up for its position within the multilateral.  Now that the international banking interests no longer require the US establishment, which they funded and help build, and who has now become a thorn in the sides of international interests with constant delays on monetary reforms, such as the 2010 IMF quota and governance reforms, Trump is the weapon of the international banking interests to evolve the domestic controls within America.” 

Last week, J.C. Collins reposted the article The Implosion of American Culture so we could digest that material with new eyes.  The Trump movement has and will continue to totally change the landscape of American socio-economics and geopolitics.

The fact that the Trump message more and more resembles the mandates and methodology of the multilateral transition which many readers have been reviewing on the  Philosophy Of Metrics web site for over two years which should not be ignored or forgotten.  Trump is even now beginning to talk about how other countries, such as Japan and China, have devalued their currencies in order to gain unfair advantage over the US dollar.

Trump is suggesting that those currencies need to experience Trump-Rallyappreciation in order for a monetary re-balancing to take place.  Another way of looking at this is that the US dollar will depreciate against those currencies. One currency appreciates while another depreciates.

As the USD depreciates, more jobs will come back to America as exports become affordable to other countries again.  This is the huge Trump job creation plan which he keeps discussing.  Though Americans will not be told that their dollar is depreciating.  It will be packaged as the fair re-valuation of other currencies.

Those who have been following the evolution of the multilateral global currency phenomenon for the last two years will recognize this CSI and method for what it is – a transition from a unipolar USD based monetary framework, which the world has utilized since the end of WW2, to a multilateral monetary framework based on a multicurrency regiment.

These are not necessarily bad things for the American worker, as the USD denominated foreign exchange reserves rebalance with euros and renminbi, and factories begin returning to the US.  Domestic growth will increase and the debt-to-GDP will lower.

Trump is representing a power which is above and beyond that held by the American political and corporate establishments.  Listening to Trump talk about running for president back in the 1980’s is almost surreal.  A multi-decade strategy could very well be unfolding before our eyes.  A strategy which will see the traditional US establishments tossed aside and disregarded for a new establishment which is following the mandates of the international banking interests.  – JC 

P.S.

Where there is change to existing systems, there is opportunity going into new systems.

See: Who Moved My Cheese

who moved my cheese

Check out this movie and ask yourself: “Are you ready to benefit from a Global Multilateral Currency Change?

Donald Trump and The Implosion of American Culture

By JC Collins

Source: http://philosophyofmetrics.com/the-implosion-of-american-culture-freepom/

Update:

The Trump for President movement, and the massive backlash against the political establishment which is feeding that movement, could very well be the implosion of culture which was suggested in the article re-published below.   

In the original blog post of December 2014, J.C. Collins stated:

“As use of the dollar levels off and begins to recede into the blend of multilateral currencies, the culture that grew up around it will also recede and implode back into the place from where it originated.”

It is no wonder that the Trump movement, and its fragmentation of the American establishment structure, is turning into a nationalist movement, as that is exactly what would be expected as the power base in the world begins to be shared among other major players.  Trump states that other countries will have to “pay their share”.  This is exactly what a shift in the international power base would entail.  

Global socioeconomic consolidation will be packaged and sold through a campaign of nationalism.  Trump could very well represent America’s “fall of the Berlin Wall” moment.  – JC

Original Article:  December 3, 2014.

It was widely expressed by the mainstream media of the time that the collapse of the Soviet Union and the fall of the Berlin Wall could not have been predicted. In hindsight, the stagnation and drop in oil prices should have been the obvious signs that a dramatic change was coming. And when the USSR began to borrow from western banks, the fix was in.

Western banks is something of a misnomer, as no bank, or conglomerate of banking interests, can exist separate and independent of the larger international banking structure which has been built throughout the the 20th Century. Stagnate growth and the deflationary oil prices which began in 1986 acted as fine toothed methods of transferring wealth from the social trust within the Soviet Union, forcing banks within the USSR to borrow from western banks, which was in fact an exchange of assets amongst financial institutions.

The inevitable policy shifts towards “perestroika” were obvious and planned well in advance.  The agricultural crisis within the country was designed to parallel the mass movement towards “glasnost”, or openness.

When we consider the larger mandates of the CSI, Cultural and Socioeconomic Interception, the same machinations as “perestroika” and ‘glasnost” can be observed in the social fragmentation and devolution of the American middle class. Where the Soviet Union enacted policies which instigated the CSI changes within the country, it will be Americas lack of enacting policy change which will precipitate the implosion of its culture.

See post The First False Flags for a further understanding of what is meant by the term CSI, or Cultural and Socioeconomic Interception.

To understand what this means we must consider the expansion of American culture around the globe since 1944, which was the year the USD became the primary reserve currency used in global trade. As use of the dollar increased, so did the acceptance of western culture.  Everything from McDonald’s burgers to Hollywood creations were exported around the world.

Like the second crucifixion of the etheric double, America has torn american flag - implosion of culturefollowed the Soviet Union down the path of re-engineering its ideological culture. Russia has no more moved towards democracy than America has moved towards Communism.  Both have shifted towards a new socialist middle ground where centralization has woven the macro economic system tighter around a supra-sovereign statehood.

The Cold War was the dialectic conditioning of the whole world.

Over the last few years we have begun to see once stable American institutions and companies begin to struggle.  McDonalds growth has begun to slow and Sears, along with other big box stores, have been closing.  Even legendary director Steven Spielberg has suggested that Hollywood will “implode” soon.

As use of the dollar levels off and begins to recede into the blend of multilateral currencies, the culture that grew up around it will also recede and implode back into the place from where it originated.

This implosion of culture can be seen in the recent racial and political divide which has been given focus in the riots and protests across the country.  The media is doing its part to push the CSI engineering into the homes and minds of the disorganized masses.  Many speculate that the riots have failed to spread as desired, but I reckon that they were extremely successful in that they leveled up the tension and pre-prejudice for a continuation of the slow motion implosion and transition to the international mindset collective.

The Black Friday madness is blown larger for maximum effect and the greed of America is the subconscious message which is being implanted in minds around the world.  This message is trended throughout mainstream media, alternative media, and social media.

The other side of this CSI engineering is instability. Both greed and instability have now begun to feed from the tail of the other as American culture descends into the unknown bounds of ignorance. Political leaders and the political process has become so degraded that even Americans themselves are now looking towards figures like Russia’s Putin for inspiration. This is no doubt by design as it slowly dawns on the American people that they have become the “isolated” contagion from which the rest of the world is attempting to vaccinate itself against.

Yet, nowhere are the masses being informed and educated about the reality of economics and politics, let alone about the decay of culture and self.  The media is proactively avoiding any meaningful truth and facts about the state of existence for the majority of the population. What is obvious subconsciously is ignored consciously in everyday thoughts and actions.

From this engineered ignorance the surprise of a “fall of the Berlin Wall moment” will emerge and crawl across the face of the western man.

The spread of greed is apparent and now the deeper injection of instability will continue to build on the economic CSI which began in 2008.  Central banks around the world and the Bank for International Settlements have already begun to implant the meme that they can no longer provide liquidity in the next crisis.  See the post The Enlargement of the Dialectic Collapse.

Across the globe the message is being promoted that America is holding up the much needed reform of the international monetary system, reforms which will “prevent and strengthen the global economy against future liquidity and credit shocks as well as exchange rate instability”.

In November of 2010 the G20 countries along with the International Monetary Fund agreed to reforming the international system.  These reforms have been held up in the US Congress since and the message is being sent that the rest of the world is becoming impatient and tired of the American games.

It is beginning to look likely that the the IMF Reforms were never meant to be passed and enacted as written back in 2010. As such, the IMF along with the BRICS countries and other G20 members, have devised methods of bypassing America and implementing and even broader reform of the institution.  This Plan B implementation will build on the meme of “American greed and instability” in order to create acceptance of a reformed system which has stripped the US of its veto power on the IMF Executive Board, as well double the actual quota commitment from member countries.

Reader Matt McBride has provided a link which explains in great detail the Plan B components and how they will likely be implemented in the coming months.  I would strongly encourage all readers to study the material and fully understand it as the world stands on the threshold of change.

Time for the United States to Risk Its IMF Veto

We are also likely to see some drama in Congress as both political parties attempt to agree on a fiscal budget for 2015. The government shutdown which happened last year has planted the CSI seed for what comes next.  It is being proposed that the Democrats will include the 2010 IMF Reforms in the 2015 Fiscal Bill.  But will the Republicans approve or continue to delay and push the world into the throes of financial collapse?

With the recent drop in oil prices and the inevitable fragmentation of OPEC, the instability theme is being built on so when the time comes the acceptance of oil and other commodities being denominated in SDR’s will not be challenged.  See post The End of OPEC for further reading on the transition of energy markets and the trend of banks exiting the commodities markets.

Now that Saudi Arabian interests have been secured through Chinese bonds, the fragmentation of old “dollar based” structures such as OPEC can begin. Everywhere a dollar based institution has been established will see change as the system transitions and the multilateral emerges.

By July, 2015, the renminbi will be added to the SDR basket composition and from that moment SDR bonds will begin to re-liquify the international financial system. See post Renminbi 人民币 and the Alternative IMF Reforms.

The current deflation of commodities will be temporary and the new SDR commodities exchange will “correct” the imbalances in the system caused by American greed and the USD instability.

As the QE policies of central banks handled the exchange of low liquidity bonds from charter banks back to the balance sheets of the central banks themselves, the SDR bond system will orchestrate a sort of QE in reverse as the central banks exchange the low liquidity assets on their balance sheets for SDR assets, which will be considered high liquidity assets.

See post A Tale of Two Metrics – Deflation and Why QE Didn’t Cause Hyper-Inflation.

As well as the posts Something SDR This Way Comes – Deflation and Liquidity for the MFS. and The Old Economics of Devonian Water – How Current Debt Transforms Into SDR Liquidity.

The complete machinations of this multilateral transition is obscured to the disorganized masses through complete misdirection and propaganda of American privilege and greatness.  Such will be the surprise when the implosion of American culture reaches a tipping point where the multilateral financial system is fully enacted on the ruins of western CSI engineered ignorance.

They will say no one saw it coming.  But there are those of us across the internet, on blogs just like this one, who have seen it coming and have been talking about it for a long time.  The exact details of every point of transition and interception is not easily discerned, but the overall macro trend is clear and there are a few moments of sudden adjustments coming.  The sad reality is that the disorganized masses will remain ignorant to the whole process as they become consumed with television news drama that hides the structural truth behind the engineered cultural implosion of the American identity. – JC

Reformed Monetary Policies for the 21st Century

Autonomous monetary policies cannot provide efficient means of directing the financial destiny of any nation.  The interconnectedness of the international financial and monetary systems are such that changes in one area will have a dramatic and sometimes negative reaction in another area.

The dynamic between America’s negative balance of payments and China’s huge trade surplus are signs of this relationship.  The large imbalances in the international framework from using the national currency of one nation as the global reserve asset has been the leading cause of poverty and ineffective income distribution worldwide.

The necessary reforms to address this global poverty and disparity Reformed-Monetary-Policyin income distribution could be considered multilateral monetary reforms.  These reforms are focused on three main areas, which are:

  1. Exchange Rate Adjustments
  2. Money Supply Adjustments
  3. Adjustments to Controls on Foreign Capital Flows

Foreign capital flows are the main mechanisms which transfer capital between trade deficits and trade surpluses.  The other two components are used in conjunction to determine the volume and pace of the third.

For any one nation to enact autonomous monetary policies would be counterproductive to the realities of the world today.  At any one time only two of the three areas above can remain autonomous.  This means that there will always be one monetary policy which cannot be autonomous and will remain connected to the larger macroeconomic multilateral framework.

It is this one area which will influence and force change on the others.

An example of this dynamic can be explained by considering the condition of interest parity.  Any nation which holds its domestic currency at a fixed exchange rate with an outside currency, or other exchange rate arrangement, while maintaining a balanced mobility of capital, will find that its interest rate policy will be decided through arbitrage activity.

This condition of interest parity functions across borders and prevents any one nation from maintaining autonomous monetary policies.  The recent interest rate increase by the Federal Reserve and its corresponding effects upon the international monetary system can be considered proof of this dynamic.

As such, it is impossible for any nation to maintain independence and autonomy on:

  1. Fixed Exchange Rates
  2. Money Supply Adjustments
  3. Unregulated International Flows of Financial Capital

Being that the United States dollar has held the title of international reserve unit of account since the end of WW2, it was problematic and inevitable that massive global imbalances would take place.  These imbalances have led to enhanced poverty around the world and caused inefficient income distribution between nations.

Not to mention the large trade deficit which America now holds, and the massive loss of domestic jobs.

Each nation can be interdependent in that its domestic fiscal policies are aligned to capitalize on the effective arrangement and implementation of macroeconomic monetary policies.  Such changes are good for the Unites States and other nations.  The toll which ineffective monetary policy has had on the US is obvious in the loss of factories and jobs, and the huge trade deficit.

This will change with adjustments to the international framework through the implementation of the three monetary policies described above:

  1. Exchange Rate Adjustments
  2. Money Supply Adjustments
  3. Adjustments to Controls on Foreign Capital Flows

Any analysis and prediction on domestic economies or the international economy must consider these larger monetary adjustments in order to be considered accurate or thorough.

The US political establishment understands that the dollar will need to depreciate and that this will bring back factories and jobs as American made goods become affordable once again.  This will boost domestic growth and lower the debt-to-GDP ratio.

Monetary policy reform is not just good for the United States.  It is meant to be good for all nations.  The transition from the unipolar dollar based framework to the multilateral monetary reform based framework will be volatile.  We have already experienced this over the last year or so, and will experience more yet before the transition is complete.

Understanding the dynamics of monetary reform is fundamental to understanding the transition itself.  – JC Collins

Source: http://philosophyofmetrics.com/just-what-is-monetary-policy-reform/

Related:

https://finance.yahoo.com/news/trump-says-global-currency-moves-cost-u-jobs-132155544–business.html

 

The Murphy Twins are Drunk Again

drunkagain

Two men were sitting next to each other at Murphy’s Pub in London.

After awhile, one bloke looks at the other and says, ‘I can’t help but think, from listening to you, that you’re from Ireland’

 The other bloke responds proudly, ‘Yes, that I am!’

 The first one says, ‘So am I! And where about from Ireland might you be?’

 The other bloke answers, ‘I’m from Dublin, I am.’

 The first one responds, ‘So am I!’

 ‘Mother Mary and begora. And what street did you live on in Dublin ?’

The other bloke says, ‘A lovely little area it was. I lived on McCleary Street in the old central part of town.’

The first one says, ‘Faith and it’s a small world. So did I! So did I! And to what school would you have been going?’

The other bloke answers, ‘Well now, I went to St. Mary’s, of course.’

The first one gets really excited and says, ‘And so did I. Tell me, what year did you graduate?’

The other bloke answers, ‘Well, now, let’s see. I graduated in 1964.’

The first one exclaims, ‘The Good Lord must be smiling down upon us! I can hardly believe our good luck at winding up in the same place tonight. Can you believe it, I graduated from St. Mary’s in 1964 my own self!’

About this time, Vicky walks up to the bar, sits down and orders a drink.

Brian, the barman, walks over to Vicky, shaking his head and mutters, ‘It’s going to be a long night tonight.’

Vicky asks, ‘Why do you say that, Brian?’

‘The Murphy twins are drunk again.’

Proof That The “Rich” Already Pay Too Much Taxes

What a shock in that the American public has been once again lied to.  The wealthier among us are already heavily overtaxed.

We frequently hear politicians say they want high-income earners, otherwise known as the rich, to pay their fair share of income taxes. None of these people, as well as the uninformed in the media and our campus intellectual elites, will say precisely what is the “fair share” of taxes. That is because they would look ignorant and silly, so they stick with simply saying that the rich should pay more. Let’s you and I take a peek at who pays what in federal income taxes.

The following represents 2012 income tax data recently released by the Internal Revenue Service, compiled by the Tax Foundation.

2012-Federal-Income-Tax-Audit-Table

The top 1 percent, 1.37 million taxpayers earning $434,682 and more, paid 38 percent of all federal income taxes. The top 5 percent, those earning $175,817 and more, paid 59 percent. The top 10 percent of income earners, those earning $125,195 and up, paid 70 percent of all federal income taxes. The top 25 percent, those earning $73,354 and up, paid 86 percent. The bottom 50 percent, people earning $36,055 and less, paid a little less than 3 percent of federal income taxes. According to estimates by the Tax Policy Center, slightly over 45 percent of American households have no federal income tax liability.

With this information in hand, you might ask the next person who says the rich do not pay their fair share of taxes: Exactly what percentage of total federal income taxes should the 1-percenters pay? I seriously doubt whether you will get any kind of coherent answer. By the way, since 1-percenter income starts at $435,000, it might be pointed out that $400,000 or $500,000 a year is not even yacht or Learjet money. Plus, if one has two kids in college, a big mortgage and car payments, I doubt he would declare himself rich.

Our demagogues also claim that corporations do not pay their fair share of taxes. The fact of the matter, which even leftist economists understand but might not publicly admit, is that corporations do not pay taxes. An important subject area in economics, called tax incidence, says the entity upon whom a tax is levied does not necessarily bear the full burden of the tax. Some of the tax burden can be shifted to another party. If a tax is levied on a corporation, and if the corporation hopes to survive, it will have one of three responses to that tax or some combination thereof. It will raise the price of its product, lower dividends, or lay off workers. In each case a flesh-and-blood person is made worse off. The important point is that a corporation is a legal fiction and as such does not pay taxes. As it turns out, corporations are merely tax collectors for the government.

Politicians love to trick people by suggesting that they will not impose taxes on them but on some other entity instead. To demonstrate the trick, suppose you are a homeowner and a politician tells you that he is not going to tax you, he is just going to tax your land. You would easily see the political chicanery. Land cannot and does not pay taxes. Again, only people pay taxes.

Politicians often call for raising the death tax, euphemistically called inheritance tax. The inheritance tax brings in less than 1 percent of federal revenue. It is on the books because it serves the interests of jealousy, envy and our collective desire to tax the so-called rich. The effects of inheritance taxes are economically damaging. It has this impact because in order for people to pay the death tax, they often must sell producing assets, such as farms, factories, stocks and bonds. These are high-powered dollars that are shifted from productive activity to government consumptive activity.

Too many Americans are ignorant of tax issues and thus fall easy prey to the nation’s charlatans and quacks.

A Tool for the Transfer of Human Time and Labor

THE CLOVEN HOOF OF AMERICAN POLITICS

A Tool for the Transfer of Human Time and Labor

By JC Collins

http://philosophyofmetrics.com/the-cloven-hoof-of-american-politics-freepom/

The diametrically opposed mandates of America’s main political parties, the Democrats and the Republicans, are two halves of the same hoof.  This hoof stomps all over domestic and international issues and serves to produce little of value for the American population.  Both parties act as leverage against one another. A sort of political tug-of-war over public opinion, which can be better understood as a balancing of wealth between engineered demographics.

The philosophical question has often been asked if human beings are naturally political.  Is the society in which we toil and participate an artificial one in which we all collectively agree that things remain as they are?

And what if things need to change?  How do you engineering massive change in a civilization?

The monetary reforms which we often discuss here on POM would require such a level of socioeconomic engineering.  Specific regions and demographics would each require unique and varying degrees of this engineering.

The engineering required to rise the monetary awareness of a mass population would be different from what would be required to dampen the monetary awareness of a mass population.  This awareness is defined along the lines of what is necessary to maintain the pre-determined level of balance between the demographics.

Those from whom wealth is taken would be subjected to socioeconomic engineering which is meant to lower monetary awareness.  While those whom accumulate wealth would be subjected to socioeconomic engineering which is meant to increase monetary awareness.

It is important that all readers remember the POM definition of wealth from previous posts. Wealth is the accumulation of human time and labor.  This accumulation requires a method of storage.  The fruits of man’s labors have been systemically taken, stolen, transferred, confiscated, and degraded over centuries.

The manipulation of the method of storage is one of the more important aspects of any monetary framework.  Whether it’s gold, silver, commodities, fiat currency, or some weird combination of all, the storage of wealth is always established as a temporary concept.

This is where so many philosophically fail to see the irrelevance of the type of monetary storage.  It doesn’t matter if it’s a gold system, or a straight fiat system.  The monetary framework itself has been, and will always continue to be designed to transfer wealth from those in one demographic to those in another demographic.

The fact that human weakness, our own internal deficiencies, are used against us for the purpose of transferring this wealth, places the ultimate personal responsibility with ourselves.

I know many disagree with me on this position, but we can only be accountable for our own actions, and not the actions of others.  This is why I always state that it is human internal deficiencies which are the cause of the world’s problems.  We allow this to happen to ourselves.

With that being said, if we are so manipulated, and if civilization is so engineered that we do not even have a functioning awareness of monetary matters, such as debt and its role within the socioeconomic paradigm, how are we to develop the intellectual and emotional tools to even deal with the problem in the first place.

The obvious answer is that we all can’t fully understand the scope of socioeconomic engineering and monetary awareness.  But we can understand our own human weaknesses.  This is why all philosophical and religious theology has pushed man to travel inward and seek answers from within.

When we are balanced internally it becomes that much more difficult for weaknesses and human nature to be manipulated and used as a method of transferring wealth -our time and labor – from one demographic to another.

There can never be peace and true profitability for all while these issues are not addressed.  You see, wealth, the accumulation of human time and labor, is a method of securing survivability.  Self-survival is the deep subconscious animal instinct which operates within us all.

The transfer of wealth from one demographic to another is also the transfer of survivability from one demographic to another.  Once full survivability is consolidated within one group, that group will then manufacture and engineer the simulacra of survivability for the larger disorganized masses from which the tangible wealth has been taken.

The larger disorganized group understands at a subconscious level that tangible survivability has been replaced with the simulacra of survivability.  This inner dissatisfaction leaves an emptiness which is then filled with all manner of self-serving illusions of survivability, such as entertainment, porn, materialism, home mortgage debt, cars, and the latest trends and fashions.

The complexity of this socioeconomic engineering and simulacra of survivability is immense and not easily grasped by the distracted mind.

The form of economic theory which is used, along with the method of governance, being political ideology, serve as points of balance between the demographics.  The interesting thing which I have concluded is that this balance, and the systems it creates, are manufactured by both demographics.  This occurs through a process of force and form, or wants and expectations.

The cloven hoof of an animal is interesting in that it represents the base awareness which is found in nature.  This is also why we see the dark and negative aspects of existence represented by hooves and other animal parts.  Such images are defined within the religions and belief systems of man.  Systems, which, as we referenced above, serve to maintain the balance between wants and expectations.

Revolutions and wars will come and go, but unless man can change what is inside, the systems which develop around us will continue to re-enforce the transfer of wealth.

The script which is playing out in America between the Republicans and the Democrats is allowing for the engineering of a new socioeconomic and geopolitical paradigm.  The awareness of the disorganized masses, and the small rent seeking elite, will shift and readjust to these new international and multilateral structures which are being developed.

While thinking on these things, consider that the term elite is multi-functional, in that it can apply to varying levels of definition.  There is an American elite within the engineered socioeconomic structure which that demographic operates within.  But there is also an international elite, which equally so, operates within the framework of an engineered socioeconomic and geopolitical design.

The human deficiency aspect is laced throughout it all as human beings from all demographics seek survivability, whether that survivability is tangible, or is a simulacra.  The diametrically opposed scripting has always been the most effective method of maintaining the status quo, or adjusting the balance between demographics.

Wherever we are confronted with such diametrically opposed scripts, we should stop and reflect on what purpose it serves.  – JC

Quickly Destroy Cancer Cells With Plant “Wormwood”

Plant “Wormwood” is capable of rapid destruction of cancer cells

Sunday February 28, 2016 – 20:30
Artemisia_annua_28022016.jpg

BAGHDAD (obelisk) – Scientists from the University of California discovered that wormwood (Artemisia) is capable of destroying 98 percent of the cancer cells in the body in just 16 hours.

This discovery made the experts are working on creating a medical preparation by which to eliminate the disease Completely cancer.

The experts discovered that wormwood produces a artemizinin where clinical tests have shown that a dose of this medication is enough to destroy 98 percent of cancer cells in the body within 16 hours.

In the opinion of scientists, when you add iron to 100 percent of this preparation will destroy cancer cells in the body and prevents the emergence of new cancer cells.

It should be noted that the use alone could eliminate 28 percent of the cancer cells in the body wormwood plant Holi, but when you add the iron component of the mix destroy all the cancer cells in the body. In addition to the tests showed that this plant does not affect healthy cells.

Artemizinin material used in the prevention of malaria, but scientists have proved that the plant wormwood Holi is very effective in the fight against cancer.

Holi wormwood plant Artemisia annua, a type of wormwood plants, fragrant essential oils and custom height ranges between 50 and 150 cm, and his papers Khamlih blade and Qnabath transparent and veins striking green.

Ozahrarh and continue in the months of July and August, and spread in various parts of the world.

Donald Trump Is Right: Here Are 100 Reasons Why We Need To Audit The Federal Reserve

Submitted by Michael Snyder via The Economic Collapse blog,

When a leading nominee for President gets something exactly right, we should applaud them for it.  In this case, Donald Trump’s call to audit the Federal Reserve is dead on correct.  Most Americans don’t realize this, but the Federal Reserve has far more power over the economy than anyone else does – including Barack Obama.

Financial markets all over the planet gyrate wildly at the smallest comment from Fed officials, and virtually every boom and bust cycle over the past 100 years can be traced directly back to specific decisions made by the Federal Reserve.  We get all excited about what various presidential candidates say that they “will do for the economy”, but in the end it is the Fed that is holding all of the cards.  The funny thing is that the Federal Reserve is not even part of the federal government.  It is an independent private central bank that was designed by very powerful Wall Street interests a little over 100 years ago.  It is at the heart of the debt-based financial system which is eating away at America like cancer, and it has no direct accountability to the American people whatsoever.

The Fed has been around for so long that most people assume that we need it.

But the truth is that we don’t actually need the Federal Reserve.  In fact, the greatest period of economic growth in United States history happened during the decades before the Federal Reserve was created.

A little over 100 years ago, very powerful forces on Wall Street successfully pushed for the creation of an immensely powerful central bank, and since that time the value of the U.S. dollar has fallen by about 98 percent and our national debt has gotten more than 5000 times larger.

The Federal Reserve does whatever it feels like doing, and Fed officials insist that the institution must remain “independent” and “above politics” because monetary policy is too important to entrust to the American people.

To me, this is absolutely ridiculous.  Everything else, including our national defense, is subject to the normal political process, and yet the decisions made by the Fed are so “important” that the American people can’t have a voice?

It is high time that the American people begin to learn what the Federal Reserve is really all about, and that can start with a full, comprehensive audit of all of the Federal Reserve’s activities.  Yesterday, Donald Trump came out in favor of such an audit…

Previously, Trump has made quite a few comments that were very critical of the Fed.  For example, last year he told Bloomberg News that he believed that the Federal Reserve was “creating a bubble”…

“In terms of real estate, if I want to develop … from that standpoint I like low interest rates. From the country’s standpoint, I’m just not sure it’s a very good thing, because I really do believe we’re creating a bubble.”

And of course Trump was exactly right about that too.  By pushing interest rates to artificially low levels and creating billions upon billions of dollars out of thin air during the quantitative easing era, stock prices were driven to ridiculously high levels.  Now that the artificial support has been withdrawn, stocks are beginning to crash, and the financial collapse which is starting to happen is going to be far worse than it otherwise would have been because of the Fed’s actions.  The following comes from one of my previous articles

As stocks continue to crash, you can blame the Federal Reserve, because the Fed is more responsible for creating the current financial bubble that we are living in than anyone else.  When the Federal Reserve pushed interest rates all the way to the floor and injected lots of hot money into the financial markets during their quantitative easing programs, this pushed stock prices to wildly artificial levels.  The only way that it would have been possible to keep stock prices at those wildly artificial levels would have been to keep interest rates ultra-low and to keep recklessly creating lots of new money.  But now the Federal Reserve has ended quantitative easing and has embarked on a program of very slowly raising interest rates.  This is going to have very severe consequences for the markets, but Janet Yellen doesn’t seem to care.

I don’t understand why so many Americans continue to support the Federal Reserve.

We don’t need a bunch of central planners setting interest rates and determining monetary policy.  We are supposed to have a free market system, and the free market should be setting interest rates – not the Federal Reserve.

Unfortunately, just about every nation on the entire planet now has a central bank.  Even though the nations of the world can’t agree on much, somehow central banking has been adopted virtually everywhere.  At this point, more than 99.9% of the population of the world lives in a country that has a central bank.

There are still some minor island countries such as the Federated States of Micronesia that do not have a central bank, but the only major nation not to have one right now is North Korea.  And nobody in their right mind would ever want to live there.

So how in the world did this happen?

Did the people of the world willingly choose this debt-based system or was it imposed upon them?

To my knowledge, there has never been a single vote where the population of a nation has willingly chosen to establish a central bank.  I could be wrong about this, but I have never heard of one.

It is the elite that have always wanted central banking, and now they pretty much have the entire planet in their grasp.

That is why we should applaud Donald Trump when he stands up to the elite.  And it isn’t just regarding the Fed that he has done this.  The following comes from an excellent article that was just written by Dan Lyman

Ultimately, Trump knows it is the global elite who have pried our borders wide open. He knows it is THEY who are responsible for the tens of millions of Third Worlders pouring into our nations. He knows that THEY are the monsters who need the world to be constantly at war. He knows THEY are radically altering our food supply with GMOs and poisonous chemicals. He knows THEY are responsible for poisoning our drinking water, filling our skies and air supplies with toxic waste, genociding our unborn children,collecting data on all citizens to implement the Orwellian police state, forcing poison into our babies’ veins – and soon the rest of us, redistributing what remains of our wealth under the guises of ‘saving the planet’ or ‘refugee aid,’ allowing and funding the ISIS Islamofascists to decimate places like Syria and Iraq in Satanic fashion, promoting the psychotic LGBT Nazis to goose-step all over our religious liberties and gender-privacy in school bathrooms. If there is a societal cancer metastasizing somewhere, it can usually be traced back to the same sources.

Yes, there are many things that we can criticize Trump and the other Republican candidates for.  But when they nail something, we should be willing to admit that they got something right.

In this case, Donald Trump is absolutely correct to call for an audit of the Fed.  As I promised in the title of this article, I want to share 100 reasons why the Fed should be audited.  The following list has been adapted from one of my previous articles

#1 We like to think that we have a government “of the people, by the people, for the people”, but the truth is that an unelected, unaccountable group of central planners has far more power over our economy than anyone else in our society does.

#2 The Federal Reserve is actually “independent” of the government. In fact, the Federal Reserve has argued vehemently in federal court that it is “not an agency” of the federal government and therefore not subject to the Freedom of Information Act.

#3 The Federal Reserve openly admits that the 12 regional Federal Reserve banks are organized “much like private corporations“.

#4 The regional Federal Reserve banks issue shares of stock to the “member banks” that own them.

#5 100% of the shareholders of the Federal Reserve are private banks. The U.S. government owns zero shares.

#6 The Federal Reserve is not an agency of the federal government, but it has been given power to regulate our banks and financial institutions. This should not be happening.

#7 According to Article I, Section 8 of the U.S. Constitution, the U.S. Congress is the one that is supposed to have the authority to “coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures”. So why is the Federal Reserve doing it?

#8 If you look at a “U.S. dollar”, it actually says “Federal Reserve note” at the top. In the financial world, a “note” is an instrument of debt.

#9 In 1963, President John F. Kennedy issued Executive Order 11110 which authorized the U.S. Treasury to issue “United States notes” which were created by the U.S. government directly and not by the Federal Reserve. He was assassinated shortly thereafter.

#10 Many of the debt-free United States notes issued under President Kennedy are still in circulation today.

#11 The Federal Reserve determines what levels some of the most important interest rates in our system are going to be set at. In a free market system, the free market would determine those interest rates.

#12 The Federal Reserve has become so powerful that it is now known as “the fourth branch of government“.

#13 The greatest period of economic growth in U.S. history was when there was no central bank.

#14 The Federal Reserve was designed to be a perpetual debt machine. The bankers that designed it intended to trap the U.S. government in a perpetual debt spiral from which it could never possibly escape. Since the Federal Reserve was established 100 years ago, the U.S. national debt has gotten more than 5000 times larger.

#15 A permanent federal income tax was established the exact same year that the Federal Reserve was created. This was not a coincidence. In order to pay for all of the government debt that the Federal Reserve would create, a federal income tax was necessary. The whole idea was to transfer wealth from our pockets to the federal government and from the federal government to the bankers.

#16 The period prior to 1913 (when there was no income tax) was the greatest period of economic growth in U.S. history.

#17 Today, the U.S. tax code is about 13 miles long.

#18 From the time that the Federal Reserve was created until now, the U.S. dollar has lost 98 percent of its value.

#19 From the time that President Nixon took us off the gold standard until now, the U.S. dollar has lost 83 percentof its value.

#20 During the 100 years before the Federal Reserve was created, the U.S. economy rarely had any problems with inflation. But since the Federal Reserve was established, the U.S. economy has experienced constant and never ending inflation.

#21 In the century before the Federal Reserve was created, the average annual rate of inflation was about half a percent. In the century since the Federal Reserve was created, the average annual rate of inflation has been about 3.5 percent.

#22 The Federal Reserve has stripped the middle class of trillions of dollars of wealth through the hidden tax of inflation.

#23 The size of M1 has nearly doubled since 2008 thanks to the reckless money printing that the Federal Reserve has been doing.

#24 The Federal Reserve has been starting to behave like the Weimar Republic, and we all remember how that ended.

#25 The Federal Reserve has been consistently lying to us about the level of inflation in our economy. If the inflation rate was still calculated the same way that it was back when Jimmy Carter was president, the official rate of inflation would be somewhere between 8 and 10 percent today.

#26 Since the Federal Reserve was created, there have been 18 distinct recessions or depressions: 1918, 1920, 1923, 1926, 1929, 1937, 1945, 1949, 1953, 1958, 1960, 1969, 1973, 1980, 1981, 1990, 2001, 2008.

#27 Within 20 years of the creation of the Federal Reserve, the U.S. economy was plunged into the Great Depression.

#28 The Federal Reserve created the conditions that caused the stock market crash of 1929, and even Ben Bernanke admits that the response by the Fed to that crisis made the Great Depression even worse than it should have been.

#29 The “easy money” policies of former Fed Chairman Alan Greenspan set the stage for the great financial crisis of 2008.

#30 Without the Federal Reserve, the “subprime mortgage meltdown” would probably never have happened.

#31 If you can believe it, there have been 10 different economic recessions since 1950. The Federal Reserve created the “dotcom bubble”, the Federal Reserve created the “housing bubble” and now it has created the largest bond bubble in the history of the planet.

#32 According to an official government report, the Federal Reserve made 16.1 trillion dollars in secret loans to the big banks during the last financial crisis. The following is a list of loan recipients that was taken directly from page 131 of the report…

Citigroup – $2.513 trillion
Morgan Stanley – $2.041 trillion
Merrill Lynch – $1.949 trillion
Bank of America – $1.344 trillion
Barclays PLC – $868 billion
Bear Sterns – $853 billion
Goldman Sachs – $814 billion
Royal Bank of Scotland – $541 billion
JP Morgan Chase – $391 billion
Deutsche Bank – $354 billion
UBS – $287 billion
Credit Suisse – $262 billion
Lehman Brothers – $183 billion
Bank of Scotland – $181 billion
BNP Paribas – $175 billion
Wells Fargo – $159 billion
Dexia – $159 billion
Wachovia – $142 billion
Dresdner Bank – $135 billion
Societe Generale – $124 billion
“All Other Borrowers” – $2.639 trillion

#33 The Federal Reserve also paid those big banks $659.4 million in “fees” to help “administer” those secret loans.

#34 During the last financial crisis, big European banks were allowed to borrow an “unlimited” amount of moneyfrom the Federal Reserve at ultra-low interest rates.

#35 The “easy money” policies of Federal Reserve Chairman Ben Bernanke have created the largest financial bubblethis nation has ever seen, and this has set the stage for the great financial crisis that we are rapidly approaching.

#36 Since late 2008, the size of the Federal Reserve balance sheet has grown from less than a trillion dollars to more than 4 trillion dollars. This is complete and utter insanity.

#37 During the quantitative easing era, the value of the financial securities that the Fed has accumulated is greater than the total amount of publicly held debt that the U.S. government accumulated from the presidency of George Washington through the end of the presidency of Bill Clinton.

#38 Overall, the Federal Reserve now holds more than 32 percent of all 10 year equivalents.

#39 Quantitative easing creates financial bubbles, and when quantitative easing ends those bubbles tend to deflate rapidly.

#40 Most of the new money created by quantitative easing has ended up in the hands of the very wealthy.

#41 According to a prominent Federal Reserve insider, quantitative easing has been one giant “subsidy” for Wall Street banks.

#42 As one CNBC article stated, we have seen absolutely rampant inflation in “stocks and bonds and art and Ferraris“.

#43 Donald Trump once made the following statement about quantitative easing: “People like me will benefit from this.

#44 Most people have never heard about this, but a very interesting study conducted for the Bank of England shows that quantitative easing actually increases the gap between the wealthy and the poor.

#45 The gap between the top one percent and the rest of the country is now the greatest that it has been since the 1920s.

#46 The mainstream media has sold quantitative easing to the American public as an “economic stimulus program”, but the truth is that the percentage of Americans that have a job has actually gone down since quantitative easing first began.

#47 The Federal Reserve is supposed to be able to guide the nation toward “full employment”, but the reality of the matter is that an all-time record 102 million working age Americans do not have a job right now. That number has risen by about 27 million since the year 2000.

#48 For years, the projections of economic growth by the Federal Reserve have consistently overstated the strength of the U.S. economy. But every single time, the mainstream media continues to report that these numbers are “reliable” even though all they actually represent is wishful thinking.

#49 The Federal Reserve system fuels the growth of government, and the growth of government fuels the growth of the Federal Reserve system. Since 1970, federal spending has grown nearly 12 times as rapidly as median household income has.

#50 The Federal Reserve is supposed to look out for the health of all U.S. banks, but the truth is that they only seem to be concerned about the big ones. In 1985, there were more than 18,000 banks in the United States. Today, there are only 6,891 left.

#51 The six largest banks in the United States (JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley) have collectively gotten 37 percent larger over the past five years.

#52 The U.S. banking system has 14.4 trillion dollars in total assets. The six largest banks now account for 67 percent of those assets and all of the other banks account for only 33 percent of those assets.

#53 The five largest banks now account for 42 percent of all loans in the United States.

#54 We were told that the purpose of quantitative easing was to help “stimulate the economy”, but today the Federal Reserve is actually paying the big banks not to lend out 1.8 trillion dollars in “excess reserves” that they have parked at the Fed.

#55 The Federal Reserve has allowed an absolutely gigantic derivatives bubble to inflate which could destroy our financial system at any moment. Right now, four of the “too big to fail” banks each have total exposure to derivatives that is well in excess of 40 trillion dollars.

#56 The total exposure that Goldman Sachs has to derivatives contracts is more than 381 times greater than their total assets.

#57 Federal Reserve Chairman Ben Bernanke has a track record of failure that would make the Chicago Cubs look good.

#58 The secret November 1910 gathering at Jekyll Island, Georgia during which the plan for the Federal Reserve was hatched was attended by U.S. Senator Nelson W. Aldrich, Assistant Secretary of the Treasury Department A.P. Andrews and a whole host of representatives from the upper crust of the Wall Street banking establishment.

#59 The Federal Reserve was created by the big Wall Street banks and for the benefit of the big Wall Street banks.

#60 In 1913, Congress was promised that if the Federal Reserve Act was passed that it would eliminate the business cycle.

#61 There has never been a true comprehensive audit of the Federal Reserve since it was created back in 1913.

#62 The Federal Reserve system has been described as “the biggest Ponzi scheme in the history of the world“.

#63 The following comes directly from the Fed’s official mission statement: “To provide the nation with a safer, more flexible, and more stable monetary and financial system.” Without a doubt, the Federal Reserve has failed in those tasks dramatically.

#64 The Fed decides what the target rate of inflation should be, what the target rate of unemployment should be and what the size of the money supply is going to be. This is quite similar to the “central planning” that goes on in communist nations, but very few people in our government seem upset by this.

#65 A couple of years ago, Federal Reserve officials walked into one bank in Oklahoma and demanded that they take down all the Bible verses and all the Christmas buttons that the bank had been displaying.

#66 The Federal Reserve has taken some other very frightening steps in recent years. For example, back in 2011 the Federal Reserve announced plans to identify “key bloggers” and to monitor “billions of conversations” about the Fed on Facebook, Twitter, forums and blogs. Someone at the Fed will almost certainly end up reading this article.

#67 Thanks to this endless debt spiral that we are trapped in, a massive amount of money is transferred out of our pockets and into the pockets of the ultra-wealthy each year. Incredibly, the U.S. government spent more than 415 billion dollars just on interest on the national debt in 2013.

#68 In January 2000, the average rate of interest on the government’s marketable debt was 6.620 percent. If we got back to that level today, we would be paying more than a trillion dollars a year just in interest on the national debt and it would collapse our entire financial system.

#69 The American people are being killed by compound interest but most of them don’t even understand what it is. Albert Einstein once made the following statement about compound interest…

Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.”

#70 Most Americans have absolutely no idea where money comes from. The truth is that the Federal Reserve just creates it out of thin air. The following is how I have previously described how money is normally created by the Fed in our system…

When the U.S. government decides that it wants to spend another billion dollars that it does not have, it does not print up a billion dollars.

 

Rather, the U.S. government creates a bunch of U.S. Treasury bonds (debt) and takes them over to the Federal Reserve.

 

The Federal Reserve creates a billion dollars out of thin air and exchanges them for the U.S. Treasury bonds.

#71 What does the Federal Reserve do with those U.S. Treasury bonds? They end up getting auctioned off to the highest bidder. But this entire process actually creates more debt than it does money…

The U.S. Treasury bonds that the Federal Reserve receives in exchange for the money it has created out of nothing are auctioned off through the Federal Reserve system.

 

But wait.

 

There is a problem.

 

Because the U.S. government must pay interest on the Treasury bonds, the amount of debt that has been created by this transaction is greater than the amount of money that has been created.

 

So where will the U.S. government get the money to pay that debt?

 

Well, the theory is that we can get money to circulate through the economy really, really fast and tax it at a high enough rate that the government will be able to collect enough taxes to pay the debt.

 

But that never actually happens, does it?

 

And the creators of the Federal Reserve understood this as well. They understood that the U.S. government would not have enough money to both run the government and service the national debt. They knew that the U.S. government would have to keep borrowing even more money in an attempt to keep up with the game.

#72 Of course the U.S. government could actually create money and spend it directly into the economy without the Federal Reserve being involved at all. But then we wouldn’t be 17 trillion dollars in debt and that wouldn’t serve the interests of the bankers at all.

#73 The following is what Thomas Edison once had to say about our absolutely insane debt-based financial system…

That is to say, under the old way any time we wish to add to the national wealth we are compelled to add to the national debt.

 

Now, that is what Henry Ford wants to prevent. He thinks it is stupid, and so do I, that for the loan of $30,000,000 of their own money the people of the United States should be compelled to pay $66,000,000 — that is what it amounts to, with interest. People who will not turn a shovelful of dirt nor contribute a pound of material will collect more money from the United States than will the people who supply the material and do the work. That is the terrible thing about interest. In all our great bond issues the interest is always greater than the principal. All of the great public works cost more than twice the actual cost, on that account. Under the present system of doing business we simply add 120 to 150 per cent, to the stated cost.

 

But here is the point: If our nation can issue a dollar bond, it can issue a dollar bill. The element that makes the bond good makes the bill good.

#74 The United States now has the largest national debt in the history of the world, and we are stealing roughly 100 million dollars from our children and our grandchildren every single hour of every single day in a desperate attempt to keep the debt spiral going.

#75 Thomas Jefferson once stated that if he could add just one more amendment to the U.S. Constitution it would be a ban on all government borrowing

I wish it were possible to obtain a single amendment to our Constitution. I would be willing to depend on that alone for the reduction of the administration of our government to the genuine principles of its Constitution; I mean an additional article, taking from the federal government the power of borrowing.

#76 At this moment, the U.S. national debt is sitting at $18,141,409,083,212.36. If we had followed the advice of Thomas Jefferson, it would be sitting at zero.

#77 When the Federal Reserve was first established, the U.S. national debt was sitting at about 2.9 billion dollars. On average, we have been adding more than that to the national debt every single day since Obama has been in the White House.

#78 We are on pace to accumulate more new debt during the 8 years of the Obama administration than we did under all of the other presidents in all of U.S. history combined.

#79 If all of the new debt that has been accumulated since John Boehner became Speaker of the House had been given directly to the American people instead, every household in America would have been able to buy a new truck.

#80 Between 2008 and 2012, U.S. government debt grew by 60.7 percent, but U.S. GDP only grew by a total of about 8.5 percent during that entire time period.

#81 Since 2007, the U.S. debt to GDP ratio has increased from 66.6 percent to 102.98 percent.

#82 According to the U.S. Treasury, foreigners hold approximately 5.6 trillion dollars of our debt.

#83 The amount of U.S. government debt held by foreigners is about 5 times larger than it was just a decade ago.

#84 As I have written about previously, if the U.S. national debt was reduced to a stack of one dollar bills it would circle the earth at the equator 45 times.

#85 If Bill Gates gave every single penny of his entire fortune to the U.S. government, it would only cover the U.S. budget deficit for 15 days.

#86 Sometimes we forget just how much money a trillion dollars is. If you were alive when Jesus Christ was born and you spent one million dollars every single day since that point, you still would not have spent one trillion dollars by now.

#87 If right this moment you went out and started spending one dollar every single second, it would take you more than 31,000 years to spend one trillion dollars.

#88 In addition to all of our debt, the U.S. government has also accumulated more than 200 trillion dollars in unfunded liabilities. So where in the world will all of that money come from?

#89 The greatest damage that quantitative easing has been causing to our economy is the fact that it is destroying worldwide faith in the U.S. dollar and in U.S. debt. If the rest of the world stops using our dollars and stops buying our debt, we are going to be in a massive amount of trouble.

#90 Over the past several years, the Federal Reserve has been monetizing a staggering amount of U.S. government debt even though Ben Bernanke once promised that he would never do this.

#91 China recently announced that they are going to quit stockpiling more U.S. dollars. If the Federal Reserve was not recklessly printing money, this would probably not have happened.

#92 Most Americans have no idea that one of our most famous presidents was absolutely obsessed with getting rid of central banking in the United States. The following is a February 1834 quote by President Andrew Jackson about the evils of central banking…

I too have been a close observer of the doings of the Bank of the United States. I have had men watching you for a long time, and am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the Bank. You tell me that if I take the deposits from the Bank and annul its charter I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I have determined to rout you out and, by the Eternal, (bringing his fist down on the table) I will rout you out.

#93 There are plenty of possible alternative financial systems, but at this point all 187 nations that belong to the IMF have a central bank. Are we supposed to believe that this is just some sort of a bizarre coincidence?

#94 The capstone of the global central banking system is an organization known as the Bank for International Settlements. The following is how I described this organization in a previous article

An immensely powerful international organization that most people have never even heard of secretly controls the money supply of the entire globe. It is called the Bank for International Settlements, and it is the central bank of central banks. It is located in Basel, Switzerland, but it also has branches in Hong Kong and Mexico City. It is essentially an unelected, unaccountable central bank of the world that has complete immunity from taxation and from national laws. Even Wikipedia admits that “it is not accountable to any single national government.” The Bank for International Settlements was used to launder money for the Nazis during World War II, but these days the main purpose of the BIS is to guide and direct the centrally-planned global financial system. Today, 58 global central banks belong to the BIS, and it has far more power over how the U.S. economy (or any other economy for that matter) will perform over the course of the next year than any politician does. Every two months, the central bankers of the world gather in Basel for another “Global Economy Meeting”. During those meetings, decisions are made which affect every man, woman and child on the planet, and yet none of us have any say in what goes on. The Bank for International Settlements is an organization that was founded by the global elite and it operates for the benefit of the global elite, and it is intended to be one of the key cornerstones of the emerging one world economic system.

#95 The borrower is the servant of the lender, and the Federal Reserve has turned all of us into debt slaves.

#96 Debt is a form of social control, and the global elite use all of this debt to dominate all the rest of us. 40 years ago, the total amount of debt in our system (all government debt, all business debt, all consumer debt, etc.) was sitting at about 3 trillion dollars. Today, the grand total is approaching 60 trillion dollars.

#97 Unless something dramatic is done, our children and our grandchildren will be debt slaves for their entire lives as they service our debts and pay for our mistakes.

#98 Now that you know this information, you are responsible for doing something about it.

#99 Congress has the power to shut down the Federal Reserve any time that it would like. But right now most of our politicians fully endorse the current system, and nothing is ever going to happen until the American people start demanding change.

#100 The design of the Federal Reserve system was flawed from the very beginning. If something is not done very rapidly, it is inevitable that our entire financial system is going to suffer an absolutely nightmarish collapse.

1984 – No More Lonely Nights (Sir Paul McCartney) – Maverick married 2/14/1985

Give My Regards to Broad Street:
No More Lonely Nights

The critics hated this film and the public stayed away from it…too bad, I find it fascinating and Paul’s fans like me still love it….and the music was great as always.

Give My Regards to Broad Street (Part 1)

Give My Regards to Broad Street (Part 2)

Give My Regards to Broad Street (Part 3)

Give My Regards to Broad Street (Part 4)

Give My Regards to Broad Street (Part 5)

Give My Regards to Broad Street (Part 6)

Give My Regards to Broad Street (Part 7)

Give My Regards to Broad Street (Part 8)

Capital Controls: Hayek versus the IMF

Authored by Steve H. Hanke of The Johns Hopkins University.

With each financial crisis, politicians of all stripes go into overdrive. They busy themselves by ducking any examination of the policy blunders that created the crisis in the first place. A favorite tactic is to fan anti-market flames. Markets get a bum wrap, and a cascade of new laws and regulations ensue.

Par for the course, the Great Recession has served up a plethora of wrongheaded laws and regulations. Capital controls designed to throw sand in the gears of unrestricted capital flows are but one example. Even the International Monetary Fund (IMF) has climbed on this bandwagon.

Capital controls as a panacea for economic ills are nothing new. Their pedigree can be traced back to Plato, the father of statism. Inspired by Lycurgus, the tyrant of Sparta, Plato embraced the idea of an inconvertible currency as a means to preserve the autonomy of the state from outside interference.

friedrich-august-von-hayek

Before more people come under the spell of capital controls, they should reflect on the following passage from Friedrich Hayek’s 1944 classic, The Road to Serfdom:

“The extent of the control over all life that economic control confers is nowhere better illustrated than in the field of foreign exchanges. Nothing would at first seem to affect private life less than a state control of the dealings in foreign exchange, and most people will regard its introduction with complete indifference. Yet the experience of most Continental countries has taught thoughtful people to regard this step as the decisive advance on the path to totalitarianism and the suppression of individual liberty. It is, in fact, the complete delivery of the individual to the tyranny of the state, the final suppression of all means of escape — not merely for the rich but for everybody.”

The imposition of capital controls leads to an instantaneous reduction in the wealth of the country, because all assets decline in value.

Full convertibility is the only guarantee that protects people’s rights to what belongs to them. Even if governments are not compelled by arguments on the grounds of freedom, the prospect of seeing every asset in the country suddenly lose value as a result of capital controls should give policymakers pause.

This brings us to China — a country with a maze of capital controls and an inconvertible currency. After years of twisting Beijing’s arm to remove controls, now the IMF is willing to turn a blind eye, and what is worse, to embrace “temporary” measures designed to further restrict capital flows.

The I.M.F has chosen the road to serfdom.

Good Bye USD Petro-Dollar: Welcome Emerging Petro-Renminbi (Chinese) Dollar

China & Saudi Arabia to End Dollar Pegs + China’s New Crude Benchmark Index

By JC Collins

http://philosophyofmetrics.com/the-petro-renminbi-emerges/

world-currency-billboard

It would appear that an agreement of sorts has been reached between world powers over the last week or so.  This would correspond with the annual World Economic Forum meetings in Davos, Switzerland.  Not to mention that Chinese President Xi Jinping and King Salman of Saudi Arabia also met and released a communique titled “Comprehensive Strategic Relationship”, along with another “senior Chinese official” affirming that it is the intention of the People’s Bank of China to “decouple” the renminbi from the US dollar.

Over the last few days a list of interesting things has taken place on the geopolitical front.  First, Saudi Arabia came out and stated its willingness to work with Iraq and Russia on making cuts to crude production.  Second, Israel is throwing Turkey under the bus and openly stating that ISIS has benefited from oil sales to Istanbul.  Third and fourth are the above mentioned Communique, and statement by a senior Chinese official in Davos, regarding the exchange rate arrangement with the US dollar.

Over the last few years there has been a lot of speculation regarding the sale of oil in Chinese renminbi.  There have been agreements made between Russia and China, and China and Iran, etc.  The implementation of two Chinese lead banking institutions, the AIIB and NDB, have spurred more speculation about the rise of the renminbi.  And when the IMF included the RMB in the weighting composition of the SDR basket the writing on the wall became even clearer.

But how would all of this unfold to position the Chinese currency to act as a replacement, or alternative, to the petrodollar arrangement which had been agreed upon between the United Stated and Saudi Arabia over forty years ago?

The first real evidence which supports the creation of the so-called “Petro-Yuan” or “Petro-Renminbi” was released last week in the form of a Communique based on the meeting between China and Saudi Arabia.  In that Communique the following was stated:

First: the political field:

– The two sides agree that, amid the continuing development of the multipolarity in the world and the economic globalization, the strategic and global aspect of the Saudi – Chinese relations is day by day on the increase so that the two countries have each become an important partner to the other at the international arena. The two sides always view their joint relations through a far-sighted and strategic eye and manage to develop this relation with each other as a key orientation tool of their external exchange.

– The two sides are keen to exchange high-level visits and enhance strategic contacts on bilateral relations and regional and international issues of mutual concern, the tightening of strategic cooperation and consolidation of mutual strategic confidence.

– The two sides confirm their interest in the creation of consultation mechanisms between the two countries in different fields and at all levels and will take effective measures to stimulate and facilitate the exchange of individual visits between them and promote contacts and mutual benefit in all fields.

– The two sides confirm anew the mutual support for the vital interests of each other with the Saudi side confirms its firm commitment to one-China policy while the Chinese side confirms its support for the Saudi side’s efforts to preserve the security and stability of its country, develop its economy, improve the living standards of its people and supports the Saudi sides playing a bigger role in the regional and international affairs.

Second: Energy

– The two sides expressed wish to continue enhancing cooperation relations in the field of energy and underscored the importance of oil market stability for the world economy. The Chinese side expressed appreciation of the prominent role being played by the Kingdom of Saudi Arabia to guarantee the stability of the world oil market in its capacity as a safe and reliable oil supplier of the world market.

One would imagine that this would have been the same sort of wording which accompanied the creation of the Petrodollar arrangement between the United States and Saudi Arabia.  But with this realization comes some interesting analytical conclusions.

Political and economic pressure is building on both Saudi Arabia and China to end their pegs to the USD.  China appears to be taking its time to complete this final stage of renminbi internationalization.  The agreement between the Chinese and Saudi’s, as defined the Communique, sets the stage for the next phase of the multilateral monetary transition.

The important piece which needs to fall into place is the start of China’s New Crude Benchmark Index, which is scheduled to be operational within the next month or two.  In the post China’s New Crude Benchmark Index, published back on November 26, 2015, I stated the following:

Unfortunately for Saudi Arabia the existing low crude prices have put pressure on the kingdom, which has already experienced a large decline in its foreign exchange reserves.

This decline is because the Saudi riyal is maintained at a peg with the US dollar of 3.75:1.  The lower the price of crude goes, in addition to an increasing USD, and the pressure to maintain the dollar peg increases, which pushes the country further into deficit spending.

Saudi Arabia could cut production which would help lift crude prices, but would lose market share at the same time.  This is not a good strategy, and an alternative scheme involving China is likely unfolding.

This unfolding strategy was just announced in the official Communique between China and Saudi Arabia.

If Saudi Arabia ended the peg to the dollar and began selling crude priced in renminbi on the Shanghai International Energy Exchange (INE) then China would feel comfortable ending their own peg to the dollar and allowing the renminbi to become more market oriented, as renminbi demand would accelerate.

This would also mean the USD would begin to depreciate at the same time as the renminbi begins to appreciate.  This is likely the missing piece for those who felt that infrastructure development loans denominated in RMB through the AIIB and NDB would not be enough to appreciate the yuan against the dollar.

To bring home the point of a Petro-Renminbi type arrangement between China and Saudi Arabia, the official Communique clearly states “…the Chinese side confirms its support for the Saudi side’s efforts to preserve the security and stability of its country…”, which is basically usurping the American roll of protector to the Kingdom.

In the post The Coming Islamic Revolution in Saudi Arabia, I wrote the following:

The agreement between the United States and Iran, and the lifting of sanctions, which could come as early as this Monday, are tell-tale signs that the strategic balance in the region is shifting.  The only reason the relationship of convenience existed between the US and Saudi Arabia was because of the large petroleum reserves.

We also reviewed how Saudi Arabia acted as a buffer for Israel and that the collapse of the House of Saud would create a vacuum which would threaten Israel.  Some new pieces are starting to fit into place.

With this latest agreement between China and Saudi Arabia, and some of the ancillary events which are beginning to take place, such as agreements on production cuts, we can assume that Saudi Arabia has been able to strike a deal which will ensure its survival.  That fact that the Israeli Defense Minister is openly undermining Turkey’s position in funding ISIS would also strongly suggest that the Kingdom has the support of both China and Israel to survive for another period of time.

Iran and Russia will begrudgingly go along with the wishes of China as the end goal of USD reserve diversification and a reduction of US reserve currency influence will serve a larger purpose.  Watch for both Saudi Arabia and China to move away from their USD pegs, which will correspond with the start of China’s crude index.

– JC

http://philosophyofmetrics.com/the-petro-renminbi-emerges/

The Current Social Banking System is Doomed to Failure

The current financial system is on borrowed time.

This is not fear mongering. It is fact.

The system almost went down in 2008. Since that time, every major decision made has been to double down on the very same bad ideas that created 2008.

Those bad ideas:

  1. Excess debt driven by loose money policy.
  2. Moral hazard (not allowing those who make terrible choices in the banking industry to fail).
  3. Increased Centralization through the Corporate oligarchy (Corporatocracy) controlled Government of the U.S. and Global economies.

The first two are a product of the third. You can only get into a place where one terrible decision is made after another when you have only a handful of people making decisions in a consequence free environment.

The drive for Centralization has been ongoing for 70+ years. Today, 4-5 players dominate every industry in the US. Media, drugs, energy, banking, you name it, there are 4-5 companies that control 90% of the market.

The flip side of this is that self-employment is at an all-time low relative to total employment. This hollows out the economy, eviscerates the Middle Class, drives incomes lower, and makes the US a less competitive, vibrant economy.

FRED - Self-employed persons by all employees - total non-farm

It also kills creativity and risk-taking as an increasing percentage of the US relies on big business for their incomes and so is afraid to speak out of turn or take risks (start new businesses). Consider the financial media where one wrong question of a Central Banker gets you fired. This benefits neither the reporter, nor the banker, nor the economy as it kills creativity/ competition/ quality of work and the like.

The drive for Centralization goes all the way up the corporate food chain. With innovation dulled by bloated corporate structures, executives increasingly rely on financial engineering to juice returns (it doesn’t help that such a large percentage of executive compensation is based on stock prices, but that’s a topic for another time).

As a result of this, companies are issuing debt to buyback shares, leveraging up their corporate balance sheets (again the Centralization/concentration of wealth theme) to increase earnings per share.

Today, US corporations are 30% more leveraged than they were in 2007 (the previous credit bubble).  But they are not the only ones. Central Governments have been issuing debt at a record pace as they cajole an ever-increasing number of voters to buy into the status quo by dangling social services programs in front of them.

As a result of this, today the financial system has over $20 trillion MORE debt than it did in 2008.  Put another way, whatever problems the system had in 2008, there are $20 trillion worth more of them today.

By logic alone, this tells us as that another 2008-type event is coming on a larger scale. 2008 was caused by derivatives based on consumer-focused assets (houses). The next crisis will be driven by derivatives on government-focused assets (bonds).

That will be the ultimate crisis. The crisis to which 2008 was the warm-up. The Crisis of Centralization breaking apart.

If you’ve yet to take action to prepare yourself and your portfolio for the next round of the Crisis, we just published a 21-page investment report titled Stock Market Crash Survival Guide.

In it, we outline precisely how the crash will unfold as well as which investments will perform best during a stock market crash.

We are giving away just 1,000 copies for FREE to the public.

To pick up yours, swing by:

https://www.phoenixcapitalmarketing.com/stockmarketcrash.html

Best Regards,

Graham Summers
Chief Market Strategist
Phoenix Capital Research


Alternative-Optimistic View

HAS THE “MADE IN THE USA”
DOLLAR-DEPRECIATION BEGUN?

Just as American Exports Are Set to Explode

By JC Collins

Made-in-the-USA-Depreciation

http://philosophyofmetrics.com/has-the-made-in-america-dollar-depreciation-begun/

When we hear that the Chinese renminbi has depreciated against the US dollar we automatically think that the RMB is weakening everywhere.  After all, the USD is the global benchmark on currency valuation.  But we need to consider that the renminbi’s valuation is also based on a basket of trade weighted currencies. (See post China Just Ended the Dollar Peg…for the most part) Under this exchange regime the RMB has remained stable, even though Chinese monetary authorities have lowered the daily fixed rate against the dollar.

 

Over the last few days the dollar has been depreciating, which has caught many by surprise.  Most POM readers will understand that this depreciation of the dollar has been expected, and in fact, has been a strategy of the both the Federal Reserve and the US Treasury for many years now.

Granted, the internationalization of the renminbi and its gradual rise to reserve currency status, coupled with a normalization of monetary policy by the Federal Reserve, could very well create a situation where stock markets drop and the dollar begins to weaken even further.

The recent upward movement in gold valuations would suggest the dollar is beginning to weaken.  But as we covered in the post Gold at Center Stage, the renminbi is not yet positioned to absorb the capital outflows from USD denominated assets and securities and the precious metal is starting to benefit from this lack of strategic monetary planning.

Calling every aspect of this transition correctly is a damn hard task, and I definitely expected gold to go much lower before beginning to appreciate again.  The range expected was around $800.00 per ounce.  It was anticipated that the capital outflows from USD denominated assets and securities would shift to renminbi denominated assets, securities, and infrastructure development loans through the AIIB, New Development Bank, and Silk Road Fund.

Though this may still be the case, even though the AIIB has expressed it has no intention of using the institution to increase RMB internationalization, the NDP and SRF have not issued any such mandate.  As of yet.

We could still see a major shift downward in gold valuations later in the year towards October, or before, as the new SDR weighting, which includes the RMB, becomes effective.  This official recognition of the Chinese currency, along with massive infrastructure development loans, whether denominated in USD or RMB, could still lead to a big drop in gold.

Interestingly, along with a dollar depreciation and a commodities boom based on large infrastructure development projects worldwide, the POM analysis has also included the increase in American exports.  This increase will naturally come from the dollars depreciation, as the “Made in America” brand once again becomes affordable for other countries.

The obvious timing of dollar depreciation and an increase in exports, corresponding to a monetary mandate of USD reserve reduction and diversification is not a coincidence.  In fact, it is a well thought out strategy which has been built up over years as an answer to the global monetary imbalances.

The Trans Pacific Partnership trade deal (TPP) has probably been negotiated in secret for this very reason.

The US Treasury wanted the dollar to depreciate so exports can expand, domestic job growth increase, and the debt-to-GDP ratio lower, making the debt more manageable.  This is offset with a new trade agreement, such as the TPP in the pacific, and the Transatlantic Trade and Investment Partnership (TTIP).

Both agreements are written to encompass a new economic reality which is based on a multicurrency framework as opposed to the hegemonic and unipolar dollar based framework.

The TPP will see American exports increase 9% a year, which will lead to domestic job growth and an increase in wages.  An increases in wages will offset the inflation which will be realized through increases interest rates domestically, and an increase in the cost of imports due to the depreciating dollar.

The US economy will also see an annual growth rate of about 0.5%.  Not bad.  As long as it happens.

So you can begin to see how all the pieces are starting to fit together.

Let’s see how long this round of dollar depreciation lasts.  My guess is that it is just the first up and down.  It will recover in the coming days or weeks and get marginally stronger again, as will the Chinese economy.  This will push gold back down, but hopefully not too far.

The game of monetary transition is far from over and is only just beginning.  There will be a lot of up and down across all markets, including precious metals and forex.

I always sit back and wonder about the scripting of this multilateral monetary transition.  When I hear Trump talk about making America great again, or suggesting that we should be friends with the Chinese and the Russians, I can’t help but think that the stage is set for the complete actualization of the POM thesis.

Sure, there may be a few odd and missing pieces, such as gold spiking recently.  But let’s keep our eye on the moving ball.  The big pieces are difficult to hide, and when they move around the ground shakes.  – JC

Italian Altar Boy Confession

Priest-and-young-boy-confession

‘Bless me Father, for I have sinned. I have been with a loose girl.’

The priest asks, ‘Is that you, little Dominic Savino?’

‘Yes, Father, it is.’

‘And who was the girl you were with?’

‘I can’t tell you, Father. I don’t want to ruin her reputation.’

“Well, Dominic, I’m sure to find out her name sooner or later so
you may as well tell me now. Was it Tina Minetti?’

‘I cannot say.’

‘Was it Teresa Mazzarelli?’

‘I’ll never tell. ‘

‘Was it Nina Capelli?’

‘I’m sorry, but I cannot name her.’

‘Was it Cathy Piriano?’

‘My lips are sealed.’

‘Was it Rosa DiAngelo, then?’

‘Please, Father, I cannot tell you.’

The priest sighs in frustration. ‘You’re very tight lipped, and I admire that.  But you have sinned and must atone.  You cannot be an altar boy for the next four months.  Now, you go and behave yourself.’

Joey walks back to his pew, and his friend Franco slides over and whispers, ‘What’d you get?’

Joey says: ‘Four months vacation and five good leads.’


 

A parable to meditate on
for our politically correct society

An old man, a boy and a donkey were going to town.

The boy rode on the donkey, and the old man walked.

As they went along they passed some people who remarked:

“What a shame, the old man is walking, the boy is riding.”

The man and boy thought maybe the critics were right, so they changed positions.

Later they passed some people who remarked:

“What a shame, he makes that little boy walk”.

So they decided they’d both walk.

Soon they passed some more people who remarked:

“They’re really stupid to walk when they have a decent donkey to ride.”

So they both decided to ride the donkey.

They passed some people who shamed them by saying:

“How awful to put such a load on a poor donkey.”

The boy and the man figured they were probably right, so they decide to carry the donkey.

As they crossed the bridge, they lost their grip on the donkey, the donkey fell into the river and drowned.

The moral of the story:

If you try to please everyone,
you might as well kiss your ass goodbye.

 

Have a nice day!