Apollonian
Guest Columnist
Economists look at the economy--disaster, as far as the eye can see, suckers--and creepy Joe?--hasn't got the slightest clue, nor his "advisors"
Economy about to BUST, big-time, suckers--"everything, all at once"--worse than 2008, worse than 1930s, suckers--all planned for "great reset," morons
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Apollonian
Guest Columnist
FOX shows "push-back" by public against creepy Joe's assurance that they'll bail-out everyone
Apollonian
Guest Columnist
The Reset: When Will Globalists Attempt To Introduce Their Digital Currency System?
BY TYLER DURDENWEDNESDAY, JUN 21, 2023 - 10:40 PM
Authored by Brandon Smith via Alt-Market.us,
Link: https://www.zerohedge.com/geopoliti...tempt-introduce-their-digital-currency-system
I want you to imagine, for a moment, a future world in which everything we now know about functioning and surviving within the economy is completely upended. This world has gone fully digital, meaning people live within a cashless society where physical monetary interactions are abandoned or prohibited, replaced by CBDCs. All transactions are tracked and traced, nothing is private any longer unless you are operating as a criminal within a black market.
By extension, production is overtly suppressed and micromanaged. Small businesses are a thing of the past, and only a select group of major corporations working directly with government are allowed to operate. It’s not just that cash is outlawed and that everyone must rely on a digital ledger, the very data pathways and networks that we use to transfer funds are also controlled. Much like the SWIFT data network, the globalists have the ability to lock down internet payments, individual accounts and business accounts and deny people the ability to move funds from one place to another.
In the meantime, AI-based monitoring systems sift through millions of transactions every minute, searching for “anomalies.” The algorithm is designed to identify anyone who has found a way around the data tracking – People who want to remain anonymous.
The internet still exists, but it’s a shell of its former glory. The population uses it regularly to complete necessary tasks and to research information, but data providers are severely restricted. Cryptocurrencies are not an option as an alternative to the CBDCs because trading them online immediately sets off red flags for the AI-in-the-sky.
Only government approved websites are allowed to exist, with extensive rules limiting what they can do and what they can say. AI chatbots provide the public with most of their information, and the globalists control the parameters of the chatbots. People only ever hear the news that the elites want them to hear. All contrary data is eliminated. It’s not so much banned, rather, it is simply omitted from the record until the people who remember it are long gone.
It might sound like science fiction, but ALL of this technology already exists and is currently being tested by globalist institutions including the Bank for International Settlements and the IMF.
Not long ago during the covid pandemic scare, organizations like the World Economic Forum began widely promoting a concept called the “Great Reset.” It was an agenda sometimes whispered about in banker conferences as far back as 15 years ago, but now the Reset was being promoted openly in the media and at Davos. It’s a new economic paradigm, a revolution in which AI runs everything, humanity is relegated to a limited number of vital jobs, and a new brand of technological socialism rules our lives. Private property would be cast aside and the populace would live day-to-day within a “shared economy” in which no one owns anything and everything is borrowed from the collective system.
The Reset, or the 4th Industrial Revolution as they sometimes call it, would be the start of a new terrifying age of feudalism. It’s a return to the oligarch and peasant model, a return to enslavement. The average person would only be allowed to work as a means to survive, never to accumulate wealth for the future. And each peasant’s survival would be utterly dependent on their access to the system, which could be taken away with the push of a button.
The primary stepping stone to this dystopian nightmare would be a global digital currency system. Without a cashless society, the globalists would have no power to enforce the other elements of their Reset. But when and how will they implement this monstrosity, and why would anyone embrace it?
Globalists tend to operate in stages of incrementalism, but sometimes they exploit dramatic crisis events in order to frighten the population into compliance with policies that would have taken decades to institute otherwise. We saw this clearly with the pandemic; most of the Reset concepts were revealed to the public during this time, perhaps because the globalists thought they had it in the bag and there was nothing anyone could do to stop them. This even included consistent talk of cashless systems to “prevent the spread of covid on physical dollars.”
But, covid with its tiny Infection Fatality Rate failed to frighten people enough and the opportunity fell apart. Today, the question is when will they try again?
Most globalist organizations consistently mention the year 2030 as their timeline for finishing the numerous projects they have in place, including the “Great Reset” along with multiple climate and carbon taxation goals. The WEF calls it “a social contract to transform our world by 2030.” The UN simply calls it “Agenda 2030.”
This means the establishment wants to have their control grid in place within seven years or less. That would be impossible without a bone rattling crisis of epic proportions, but first they would have to introduce a number of future mechanisms as a trial run. That way, when disaster does occur the public will be acclimated to the solutions that the elites will ask them to adopt later.
In the case of digital currencies, crypto has already received wide exposure in popular media. Most people don’t own crypto and hardly anyone uses it, but they have all heard of it. CBDCs will likely ride the crypto wave and will be presented as a “safer and more stable” crypto option.
For now, Australia seems to be the primary guinea pig for fielding CBDCs to a large western population. Their pilot programs are set to finish this summer and international transactions have been accomplished using the eAUD unit. Though, they have not revealed when they might introduce the currency to Forex markets or the citizenry. The point is, the system exists, and can be copied and adopted by any other nations.
At bottom, globalists know that countries like America will not accept a fully cashless system without a complete collapse of their existing currency and economy. It’s just not going to happen otherwise, and I have doubts that many Americans will accept such a system even after a collapse. The majority of Americans, 59%, say they like to have cash with them for various purchases.
Though western consumers make payments more often with bank cards, they still enjoy having physical money when they want it. The implications of intricate digital surveillance of every single purchase and transfer of funds is not lost on a large portion of the population. People know that if they give the government a telescope into their wallets eventually that information will be used against them. Take away the option of anonymity and millions of people will resist, even if they have nothing in particular to hide.
Conversion to a cashless system would require calamity and force, a full spectrum crisis throughout the US and much of the western world in the next few years, along with another few years or more of reconstruction to bring in CBDC mechanisms. Small businesses would have to be removed from the picture, leaving only major corporations which could then refuse to accept cash as a means of payment from consumers. This would be one method of expediting the cashless system, along with outright government confiscation of physical paper.
That said, there is another rather blunt way to push Americans into CBDCs that the globalists seem to be expediting – The death of the dollar’s world reserve currency status. Only five years ago skeptics argued that the dollar would be king for many decades to come. Today, those same people are eerily quiet as the IMF announces their own global CBDC called the “UMU” and BRICs nations quickly move away from the Greenback in bilateral trade. If the US dollar loses a majority of its buying power through inflation and the loss of reserve status, it may be easier to convince the populace to abandon it for a digital replacement.
If we take the globalist timeline of 2030 as an effective limiter, this would mean another crisis even more pervasive than the covid pandemic would have to take place soon in order for the elites to get what they want. The longer they wait, the more people become educated on their agenda and the less likely it will be to succeed.
Apollonian
Guest Columnist
10 Signs That The Mainstream Media Is Not Telling You The Truth About The Economy
Michael SnyderJULY 30, 2023
Link: https://www.activistpost.com/2023/0...telling-you-the-truth-about-the-economy.html/
By Michael SnyderIf you believe the corporate media, the U.S. economy is doing absolutely great as we start to roll through the second half of 2023. Even though inflation is out of control, the commercial real estate market is in free fall, corporate bankruptcies are surging, and large businesses all over America are conducting mass layoffs, we are being told that everything is just peachy. For example, the following comes from a recent NPR article entitled “What recession? It’s a summer of splurging, profits and girl power”…
Yes, “girl power” is supposedly saving the U.S. economy.
Doesn’t that sound wonderful?
Unfortunately, it just isn’t true. Here are 10 signs that the mainstream media is not telling you the truth about the economy…
#1 When the economy is doing well, there is a tremendous demand for trucking. But when the economy is tanking, trucking companies often get into serious trouble. So it is a very bad sign that “one of the country’s oldest and largest trucking businesses” is literally on the brink of collapse…
#2 You can add Anheuser-Busch to the rapidly growing list of large companies that are conducting mass layoffs…
#3 The number of large corporate debt defaults so far this year has already exceeded the grand total for the entire year of 2022…
#4 The cost of living continues to soar. CNBC is reporting that vehicle repair costs have risen by nearly 20 percent over the past 12 months…
#5 More than three-quarters of a million households in the state of California are behind on their rent, and now it appears that a tsunami of mass evictions is coming…
#6 Electric vehicles were supposed to be the wave of the future, but Ford is going to lose 4.5 billion dollars on electric vehicles this year alone…
#7 A yield curve inversion normally means that a recession is coming, and right now the yield curve is the most inverted that it has been in more than 40 years…
#8 Just like we saw in 2008, home foreclosures are starting to surge…
#9 I have repeatedly warned my readers that we are in the early stages of the worst commercial real estate crisis in U.S. history, and now one expert is comparing it to a “Category 5 hurricane”…
#10 According to Challenger, Gray & Christmas, the number of announced job cuts in the United States during the first half of this year was 244 percent higher than the number of announced job cuts during the first half of last year…
Considering all of the facts that I just shared with you, how in the world can anyone possibly claim that the U.S. economy is heading in the right direction?
It just doesn’t make any sense.
Of course those that work for the mainstream media can write anything that they want.
But that doesn’t mean that we have to believe them.
We live in a time of great deception, and it is only going to get worse.
If you think that things are bad now, just wait until we get to this time next year.
With the presidential election looming, the mainstream media will be desperate to portray the Biden administration in a good light.
But no amount of spin can change the truth.
The U.S. economy really is in big trouble, and very dark storm clouds are gathering on the horizon.
Michael’s new book entitled “End Times” is now available in paperback and for the Kindle on Amazon.com, and you can check out his new Substack newsletter right here.
Apollonian
Guest Columnist
Stock market doing great--for the rich scum. But INFLATION, getting worse by the day, suckers, is what CRUSHES the millions and masses of poor and middle income, fools.
Apollonian
Guest Columnist
THE NEW YORK FED HAS EXTENDED ITS HALF TRILLION DOLLAR BAILOUT FACILITY TO A SPRAWLING JAPANESE BANK YOU’VE NEVER HEARD OF
Link: https://www.blacklistednews.com/art...ailout-facility-to-a-sprawling-japanese.html/Published: December 17, 2023
SOURCE: WALL STREET ON PARADE
Quietly, on December 1, the New York Fed published the following statement on its website: “The Norinchukin Bank, New York Branch, has been added to the list of Standing Repo Facility Counterparties, effective December 1, 2023.”
The Standing Repo Facility (SRF) is a permanent $500 billion bailout facility created by the Federal Reserve and operated by the New York Fed – the private regional Fed bank where multi-trillion dollar Wall Street bank bailouts have become a regular feature of its operations.
Without any action from the U.S. legislative branch (otherwise known as Congress), the Fed has unilaterally decided to become lender of last resort to Wall Street trading houses (whom the Fed prefers to call its “primary dealers”) and deposit-taking banks, including the uninsured New York branches of foreign banks like Norinchukin Bank.
If you have never heard of Norinchukin Bank, don’t feel badly. Neither have we and we’ve been monitoring global banks for decades. According to Norinchukin Bank’s financial statement for its fiscal year ending March 31, 2023, it had $708 billion in assets. If it were a U.S. bank, it would be the fifth largest by assets, just behind JPMorgan Chase, Bank of America, Wells Fargo and Citibank.
The notice from the New York Fed about adding Norinchukin Bank to its bailout facility grabbed our attention for two reasons. First, it came out on a Friday, which is typically when financial entities dump bad news they hope will disappear over the weekend. And also because the Standing Repo Facility was the successor to the trillions of dollars in still unexplained emergency repo loans the Fed had to pump into Wall Street in the fourth quarter of 2019.
READ MORE... [see https://wallstreetonparade.com/2023...sprawling-japanese-bank-youve-never-heard-of/]
Apollonian
Guest Columnist
U.S. faces imminent economic crisis due to escalating debt, inflation, and rate cuts.
April 1, 2024 9:08 am by CWRLink: https://citizenwatchreport.com/u-s-...e-to-escalating-debt-inflation-and-rate-cuts/
In the realm of finance, a debt crisis looms ominously. Larry Fink, CEO of BlackRock, the world’s largest asset manager, has issued a dire warning about the United States’ escalating national debt, now exceeding $34 trillion. Echoing concerns raised by Jamie Dimon and Jerome Powell, Fink emphasizes the urgency of the situation, likening potential outcomes to Japan’s economic stagnation during its ‘lost decade.’ He highlights the peril of assuming that investors will indefinitely support the U.S.’s growing fiscal deficit.
Picture this: an individual who borrows excessively, struggling to repay, thus jeopardizing financial stability. This scenario is akin to the current state of the nation’s debt burden. The trajectory is concerning, with U.S. interest payments projected to soar to a staggering 1.6 trillion dollars by December 2024.
See also UN warns of climate crisis with 'red alert' on record-breaking warming trends.
On the flip side, inflation lurks as a silent predator, stealthily eroding purchasing power. The relentless rise in prices, coupled with stagnant income levels, paints a bleak picture for consumers. The warning signs are clear.
Compounding this predicament, the Federal Reserve faces a daunting task. Despite the economy’s resurgence, they may need to cut rates to alleviate the burden of interest payments on the debt. This decision, though necessary, could fuel inflation even further, exacerbating the existing challenges.
Additionally, Fink points out the danger of the recent rise in U.S. Treasury yields to 4%, a result of inflation expectations and the Federal Reserve’s aggressive rate hikes.
Why should we pay heed to these ominous signals? Simply put, an unchecked debt burden and rampant inflation spell disaster for the economy. The repercussions would reverberate across sectors, affecting every facet of society.
See also Housing inflation underestimation compounds affordability crisis, impacting real estate market.
However, amidst the gloom, there lies a glimmer of hope. Through prudent financial management and informed decision-making, we can navigate these treacherous waters. Awareness and action are our best defense against impending economic turmoil.
The confluence of escalating debt, inflationary pressures, and the necessity for rate cuts portend a storm on the economic horizon.
Sources:
finance.yahoo.com/news/larry-fink-joins-jamie-dimon-115249796.html
Apollonian
Guest Columnist
Is Inflation Harmless?
by Jeffrey A. Tucker | Brownstone InstituteApril 4th 2024, 4:46 pm
The years 2020-24 were times of one of the greatest head fakes in the history of government and central banking.
They showered the world with seemingly free money only to take it all away and then some merely a year later and continuing to this day.
The New York Times has published a strange article by Justin Wolfers, an economist at the University of Michigan. The headline is that his economist brain makes him say with regard to inflation: “Don’t worry, be happy.” The article gives the reader as much reason to trust economists as you do epidemiologists, which is to say not at all.
The idea is that if both prices and income go up together, it all pans out in the wash. Yes, the article goes on for 1,000 words to say that but that’s its essence. The thought is that the 25 percent inflation we’ve experienced over the last 4 years really hasn’t done any damage. Money is neutral to economic exchange and so is inflation.
So just chill!
Now, on the face of it, this claim is notable because he nowhere claims that inflation does actual good, so perhaps that is a step in the right direction. If that’s true, what’s the point of printing up $5 trillion-plus in 2020 and following? No question that this is the direct cause of the loss in purchasing power of the dollar that we’ve experienced. If money is entirely neutral and inflation essentially irrelevant, the Fed should simply freeze the money stock if only to reduce anxiety.
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Of course the professor doesn’t suggest that. This is for a reason. Inflation is a form of taxation and wealth redistribution from the poor and middle class to the rich and powerful. Without it, that pathway to wealth transfers would not happen.
Let’s see what the article overlooks about inflation in real life.
First, every inflation comes with injection effects. Not all new money enters the economy at the same time. Some people get it earlier and thereby can spend it before its value starts to fall and fall. They are the winners from inflation. It’s a giant subsidy to the ruling classes.
Think about 2020 and early 2021. Millions of banked businesses and consumers, plus governments most especially, found themselves flush with new cash. Savings soared but so did spending on high-tech goods and delivering services to make the work-at-home economy function.
Many institutions benefited: banks, governments, online learning platforms, online merchants like Amazon, streaming services, and so on. This was part of the Great Reset, to enrich digital enterprise over physical enterprise.
This tendency for new money to affect different industries in different ways was uncovered by the Irish-English economist Richard Cantillon, writing even earlier than Adam Smith. He said that money is never neutral to economic exchanges but rather integral, so every increase in the supply of money has the effect of rewarding some at the expense of others.
Second, you know what’s not affected by the tendency of prices and wages to go up under inflation? Savings. Your money in the bank was not somehow adjusted further up by virtue of inflation. So Professor Wolfers’ entire analysis is blown up as a result: it simply does not pertain to any deferred consumption of the past.
Savings is the basis of investment and thus future prosperity, so inflationary regimes always punish those who are frugal and reward those who live for today and save nothing. Indeed it is deeply punishing toward long-term thinking in general.
Third, none of Wolfers’ thought accounts for the huge transition costs associated with accounting during inflationary bouts. Every business that runs on small margins in a competitive environment has to deal with balancing income versus expenses on large items and small. Accounting alone consumes vast amounts of operational attention in every business. If your costs are randomly going up for all inputs from labor to materials to just keeping the lights on, and each at different stages and in different ways, it becomes much easier to make mistakes.
In addition, it’s easier said than done to “pass the costs onto the consumer.” The ability to do so always depends on the price elasticity of demand, which is a measure of just how trigger-happy consumers really are toward higher prices. How much will demand be affected by changing prices? There is no way to know in advance, which is why merchants end up testing and treading carefully with hidden fees and shrunken packages. It’s all a matter of making the economy work.
Companies facing less competition and larger profit margins are in a better position to achieve this than those like small businesses which cannot. Therefore the high costs of accounting transitions fall disproportionately on smaller businesses. Did you notice, for example, that liquor prices have not increased nearly as much as other prices? That’s because they were in a position to eat some of their large margins rather than risk reducing demand for their product. That was certainly not true of the corner grocer or the small restaurant.
These are three reasons why this professor’s opinion – born of models in which there are no transition costs, injection effects, or accounting uncertainties – has nothing to do with the real world. And you know this, based on the experience of the last four years. It is an enormous source of frustration when intellectuals use their high-status positions to instruct the public on matters we know to be untrue.
It is also an annoyance to cover up the terrible truths we know. The years 2020-24 were times of one of the greatest head fakes in the history of government and central banking. They showered the world with seemingly free money only to take it all away and then some merely a year later and continuing to this day.
And who won? Look around. Big government is bigger and so is tech and digital businesses in general, while the banks are flush with cash. That tells you all you need to know about who is winning and who is losing in the great inflation racket.
Any economist telling you otherwise needs to let go of the unrealistic otherworld models and take a look at the reality on the ground. He might discover that members of the public are not irrational to be upset but rather entirely in touch with the truth about what has happened to us.
Learn Why The Globalists Are Killing Their Own Monetary System