Manchin Votes No on Build Back Better

 

Posted Dec 19, 2021 by Martin Armstrong

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Sen. Joe Manchin has announced that he won’t support President Joe Biden’s Build Back Better package. The West Virginia Democrat, who has tried negotiating with the White House on the massive social spending bill, has said that he is a no vote on the legislation.

“I cannot vote to continue with this piece of legislation. I just can’t. I’ve tried everything humanly possible. I can’t get there,” Manchin said. “This is a no.”

The Build Back Better Act is far more than the president’s signature domestic policy bill or the wish-list of the AOC progressives/communists. While his bill narrowly passed the House last month over the unanimous opposition of Republicans, this near $2 trillion spending spree which is totally uncalled for as some stimulus plan for the economy, includes a number of progressive priorities, such as free preschool, major climate change initiatives and extending the child tax credit. But with that money for free preschool comes federal strings attached as to the theories that will be taught to children too young to understand they are being brainwashed which was precisely the objective of Communism behind the Berlin Wall.

The amount of spending with the combined Infrastructure Bill and this Build Back Better agenda which is fashioned by the World Economic Forum to further Marxism which may yet be called Schwabism is so irresponsible when the economy is NOT in a Great Depression. Not even John Maynard Keynes ever advocated such a spending spree when the economy was not in a Depression. It has been this type of fiscal mismanagement that is bringing down Western Civilization for the AOC progressives hate anyone who creates jobs and thinks the government is the source of all radiance – not the private sector nor the sun as the source of any global warming.

This Build Back Better agenda was floated at Davos in January 2019. It was an agenda sold to world leaders because of the sovereign debt crisis and this spending spree is in preparation of simply defaulting on all government debt. They have the perfect president who is clueless that he is the knife being used to assist the United States to commit suicide with its own Constitution.

Part of this agenda that is being pitched by Schwab that you will own nothing and be happy is a clever ploy to make you think they are wiping out all debt and this is really for you. This agenda is driven by the fact that governments can no longer continue to borrow year after year with no intention of ever repaying. The entire Keynesian Model is collapsing before our eyes.

Thank God for Joe Manchin for he is the only Democrat rejecting this directive coming from Klaus Schwab. The Democrats look at the progressive promises and think that this will buy their votes for 2022. But then what? Do they then create Build Back Better 2.0 for 2024 and increase the spending by $5 trillion? These politicians cannot look past the immediate moment and the personal self-interest. What are they doing to the nation and the future? To hell with the nation!

What about the agenda of indoctrination attached to preschool? Even the Critical Race Theory teaching that white are inherently racists is undermining civilization which is the result of everyone coming together for their mutual benefit. Dividing society by race and religion is to ensure the people will never ban together against the government. This is how tyranny flourishes. They know how to do it for the only history they refer to is how to suppress the people for their own self-interest.

 

There is nothing they do not twist around for personal agendas. Slavery in the United States began with whites from England being sentenced to indentured servitude for even shoplifting an apple. The Constitution expressly forbids indentured servitude. The English Crown sold you to the highest bidder. Law became profitable to punish people they could then sell for labor to Plantations in America. Ben  Franklin objected and said how you England like it if they bagged all the rattlesnakes and shipped them to England? Only when the American Revolution began did England then send their criminal to Australia. Many people who also wanted to get a new life, intentionally committed a minor offense to get free passage to the New World.

The abuse of this WOKE movement is the lack of any historical research. They simply said Jefferson owned slaves to justify removing his statue. But he inherited the slaves and he was the one against slavery and created the political storm by inserting in the Declaration of Independence that “all” men were created equal. They fail to understand that one could not just free his slaves at that point in time for there was no employment or a local Starbucks and they would own no property to even grow their own food. Jefferson was the inspiration behind the whole anti-Slavery movement. When in 1861 Russia abolished serfdom, the people owned nothing. That is what led to the Russian Revolution which first began in 1905.

Thomas Jefferson’s words:  “We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.” Jefferson’s views on black Americans and slavery were very clear that he undoubtedly hated slavery and believed that the self-evident truths he had set forth in 1776 ought eventually to doom the institution in the United States.

The majority of states, including New York, were slave states. It was NOT a North v South issue at that time. But the slavery had begun as indentured servitude. To now fault Jefferson simply because he owned slaves in a system that was slave-based to diminish the shortage of labor in a new world, is to ignore the history and a man who was bucking the establishment of his time. Tearing down his statue because of slavery or that of Christopher Columbus who did not create slavery 300 years later only shows the ignorance behind this agenda. Columbus believed he landed in India.

It was Amerigo Vespucci (1451-1512) who America is named after for he is the one who figured out it was a new continent. Yet they tear down statues of Columbus and the day named in his honor October 12, 1492, Biden declared Oct. 11 as Indigenous Peoples’ Day when no Indigenous people were made slaves. European settlers invaded their lands. So to rectify that, all whites should just be deported to where their families came from?

Also ignored was the legal justification for slavery that not merely extended into ancient times, but also explains why the Dutch imported black slaves from Africa when there was an ample supply of Indians in America who could have been less expensive to turn into slaves. A slave was legal as the spoils of war. Rome sold all the inhabitants of Carthage into slavery finally to end their Punic wars with Carthage. The “Slavic” ethnicity of the Balkans means “slave” for they were often the source for slaves from war. Since the American Indians were not the spoils of war, it was legally and religiously forbidden to take them as slaves.

The Dutch were buying the Africans from other Africans who told the Dutch they were the spoils of war to satisfy the legal and religious distinction for a slave. Thus, the Africans were imported as slaves to replace the white trade in criminal labor from England.

In Ancient Times, Africans trained elephants and participated in battles as mercenaries. They would ride the elephants they trained during the Punic Wars. They were not slaves for they were not the spoils of war.

The problem with Critical Race Theory is simply that it ignores history and implies that it is white against all people of color without ever explaining what the American Indians were excluded from slavery. This has set off a serious crisis where they have sought to even teach Critical Race Theory in Britain where the same issues of slavery did not exist. The Critical Race Theory has even emerged on the floor of Parliament.

This entire agenda of Critical Race Theory is dividing the country, which is precisely opposite of what is needed to reduce civil unrest. This is all about retribution for previous generations when history is even distorted. It certainly appears that this is intended to divide the people to prevent a unified uprising against the government as it moves down this path of the Great Reset and Sovereign Debt Default.

Senator Manchin is the ONLY Democrat willing to defend his country against this foreign invasion to transform the world into the dream of Klaus Schwab, who is very much a control freak the very same type of character as Bill Gates.

Why Austrian School of Economics is Outdated

 

Posted Dec 19, 2021 by Martin Armstrong

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QUESTION: Marty; would you comment on David Stockman’s assistance that the fundamental consequence of 30 years of Fed-fueled financial asset inflation is that the prices of stocks and bonds have way overshot the mark.

Thank you

HW

ANSWER: David Stockman was the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan. He is very old-school and such a statement in economics is like pretending we are still in the world of horse & buggies and you must pull your new-fangled car off the road if it frightens the horses.

The statement presumes everything in the economy is driven exclusively by domestic events. It’s not his fault. They still teach these theories in universities. It is all based upon the old world of Austrian Economics which dates back to when the exchange rate among nations was based solely on the metal content of their coinage. At this point in economic history, no single nation truly provided the dominant monetary system. There were coins that emerged such as the Anglo-Saxon sceats. But they did not carry a premium because of their economic power.

It wasn’t until the 8th century that the French developed the silver denier copying the Roman silver denarius. This became the main coinage of Europe. But once again, it did not carry a premium because of its economic power.

We find that the English King Offa copied the French and created what became known as the English silver penny. This really established forex exchange rates based entirely upon the metal content.

By the 13th century, this is where we begin to see the dominant gold florin of Florence become the more recognized high-value denomination that became a recognized monetary unit of Europe. Other nations then began to issue imitations of the gold florin.

The German bankers, the Fuggers, emerged as the leading Augsburg merchant-banker, who then provided loans to local rulers secured with the produce of their mines. Eventually, by 1525, the Joachimsthaler of the Kingdom of Bohemia was the first thaler ideally with a weight of 31 grams or one troy ounce.

We can see that 600 years later, England issued a silver Florin which represented 24 pence. Florence achieved its independence in 1250 and began to issue the first gold coin for Europe post-Dark Age. The gold Florin was worth 20 silver Grosso. So we can see the gradual inflation whereby the 19th century an English Florin was 24 pence. Equivalent in value of the English Florin was 10 Florins equaled a pound. Even the Hungarian Forint was a reference to the gold Florin of Florence, home of the Medici bank.

The wealth of Spain was consumed by Europe but it did not become the dominant currency. In America, the Spanish coinage became dominant and the one-ounce silver coin modeled on the Thaler (8 reales) became the model for the US dollar which was a rejection of the British monetary system.

The Austrian School was based upon Gresham’s Law whereby the debasement of the coinage of Henry VIII drove the higher silver content coinage out of circulation. These ideas were entrenched in a period where there was no dominant financial capital of the world. What is missing from this view of money is that of the economic power of the state.

There are “imitations” of ancient Greek and Roman coins where the metal content is on par and sometimes even heavier. This proves that gold in the form of a Roman coin carried a premium to simply raw gold or had that peripheral state-issued gold or silver coinage in its own name.

Here we have an Athenian Silver Tetradrachm which became a world currency imitated by Egypt for external trade when Egypt did not issue their own coinage until they were conquered by Alexander the Great.

It was the British pound that emerged as the dominant world currency because of its economic power and imperialism. We then find bonds issued by even China in British pounds just as today nations issue debt in US dollars denominations.

Even the Celts of Europe imitated the coinage of Macedonia. What is missing from the entire Austrian School is that a currency can emerge to be worth more than its metal content based upon its economic power.

Today, in the realm of paper money, fiat is no longer a viable theory. Japan, Germany, and China, all rose from the ashes to become major world economies without gold or tangible resources. What has emerged is the value of a currency is based upon the economic productivity of a nation. That is what backs a currency – nothing else. This Keynesian view of interest rates and money supply are no longer key factors when the dollar is used around the world and even 70% of the paper dollars circulate outside the USA.

The rise in the stock market has NOTHING to do with this nonsense of the Fed. This statement entirely ignores the fiscal spending that the Fed cannot control. Capital rushes around the world and concentrates at times in a country for a profit. When it does, it increases the domestic money supply when a foreigner buys stocks, bonds, or property in your country.

The Roaring Twenties took place BECAUSE of World War I. The capital fled Europe seeking safe harbor in the USA. That increased the dollar and dollar investments. The inflows peak with the peak in real estate in 1927.

So sorry! This idea that the market is up solely because of the creation of money is just absurd. The propaganda of the socialists that capitalism was evil following the Great Depression, which they did not understand, led to investment concentrating on bonds and the Take-Over Boom of the 1980s which I was blamed for advising takeover buyers based on these charts that showed the low in the book value in 1977. Yes, I was advising several takeover tycoons. If you could buy a company, sell its assets, and triple your money, obviously the market was way undervalued following the end of the Public Wave in 1985.

We have to look at the entire world – not just isolated domestic policy.

Australia to Quarantine Even Fully Vaccinated Flying to Australia

 

Posted Dec 14, 2021 by Martin Armstrong

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The joke use to be going Postal because so many postal workers were killing co-workers decades ago. Not they are calling it Going-Australian, meaning they are leading the charge on the most anti-human rights regime in the world. They have matched the Nazis blocking travel even between states. Now they are even saying that FULLY VACCINATED may still have to quarantine for two weeks coming into Australia which will end any dreams of tourism. What they are acknowledging, without admitting it, is that vaccines at the very best may lessen what you contract like a flu shot, but it will NEVER prevent you from getting COVID or spreading it.

People are beginning to see that this has been just an excuse to move toward what their politicians have admitted is a new world order. This has nothing to do with health, but everything to do with social control. The most ruthless state, Victoria, locks you down and requires you to send a photo to prove you are home using facial recognition. This is wholesale imprisonment and may see this as Australia is moving full circle whereas it began as a penal colony. Australia actually did not gain its independence from Britain until March 3rd, 1986. The ECM plotted for Australia shows that its tyrannical regime began with COVID in 2020.56. The first case in Australia was on January 19, 2020, and Victoria imported its first lockdown on March 10, 2020.

There is no way the government will reverse its position. This is all about restricting the total economy, not really about a health crisis. In fact, even the UK-based Evidence-Based Medicine Consultancy Ltd submitted to the Medicines and Healthcare Products Regulatory Agency (MHRA) in Britain which states bluntly that “the MHRA now has more than enough evidence on the Yellow Card system to declare the COVID-19 vaccines unsafe for use in humans.”

Without question, governments are mandating these vaccines and are not concerned about the health of people or the injuries they are causing. Instead, this is the excuse to prevent travel and to ensure that there will be no uprising against the government as they impose Schwab’s Great Reset and the intended default of all government debt.

The Hoax of Biden’s Democracy Summit

 

Posted Dec 10, 2021 by Martin Armstrong

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The #1 Fake News Network in the world, CNN, has gone after China and Russia for calling Biden’s Summit of Democracy a joke. Of course, CNN apparently does not know how to pick up a dictionary. Here in the United States, we have a republic – not a democracy. And in Europe, the whole political structure is a fraud for the people neither vote for anyone on the European Commission nor they do not vote for the head of state.

I suppose they never actually listened to the words of the Pledge of Allegiance to the Flag:

“I pledge allegiance to the Flag of the United States of America, and to the Republic for which it stands,

one Nation under God, indivisible, with liberty and justice for all,”

It explicitly states that the US is NOT a Democracy but a Republic. It is a joke that politicians pretend that we live in a democracy when we do not and Klaus Schwab’s 2030 agenda included the end of the right to even vote. Moreover, the press is no longer free and it is pushing its own agenda.

They refuse to investigate anything to do with COVID or the conflicts of interest elevating Gates to a world health czar who is not even a doctor any more than Schwab or the head of the WHO. The press has fully embraced the canceled culture and thinks “freedom of the press” means they get to report only what supports their agenda.

Here are the definitions of Democracy and Republic which Europe does not fit either. If CNN was honest, they would actually have to agree with the criticism of both Russia and China for the West is a Republic, and would never allow a democracy for then the people would vote on all of these spending issues instead of our pretend representatives since we are a Republic – not a Democracy.

So sorry, Biden’s Summit of Democracy is indeed a joke. Nowhere in the West do the people live in a democracy. It is all a republic and Europe does not even qualify as a republic it is closer to China and Russia than the United States. Historically, republics always die by their own hand – economic suicide which is unfolding perfectly once again. At some point, there will be a new version of Caesar who will cross the Rubicon.

Britsh Court Claims US Will Treat Assange Humanely

 

Posted Dec 10, 2021 by Martin Armstrong

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In perhaps the most absurd ruling of any court, a British Appeals Court ruled that the US assurance that Assange will be treated with humanity is a joke. He will be tortured and treated with absolute contempt for exposing all the illegal activity that the United States’ uncontrolled bureaucrats have done. The US regards treason as not against the nation or the people but against the bureaucrats and politicians.

Assange will be lucky if he somehow does not figure out how to turn off the cameras so he can commit suicide. Epstein was a genius at that and probably learned the secrets of the FORCE from Star Wars to be able to turn off the cameras outside his cell using his mind so he could commit suicide in private.

They routinely will torture you mentally and physically without ever leaving a mark. They will through you in a cell at 120 degrees and turn off the air and then throw you into a cell so cold you can see your breath. The more you know, the less likely you will ever be treated fairly or see a trial.

Khalid Sheikh Mohammed was a tortured individual, yet the government now tries to deny he was waterboarded 183 times, claiming they only poured water over him 183 times to simulate drowning.

Dr. Antony Fauci approved torturing dogs and had them eaten alive by bugs. And so these government agents did not have to listen to the dogs screaming in pain, they cut their vocal cords so they could not make a sound.

This is the treatment you will receive. They will try their best to mentally destroy people all to make sure they maintain their 99% conviction rate. Adolf Hitler was fairer. His notorious court that would determine if you had any Jewish blood that everyone said was an affront to justice, had a 90% conviction rate. Federal Judges no longer supervise prosecutors but do what they are told by the Department of Just Us.

Remember how the US got caught torturing people in Abu Ghraib? Obama even admitted that the US engaged in such practices. That’s why the government keeps Guantanamo Bay for it is their position that as long as the facility is not in the United States, then the rule of law does not apply and they can imprison those people for life without a trial because they never had the evidence. So they feed them until they die, so they never have to admit they ever make a mistake.

Outside the territory of the US is like Fauci cutting the vocal cords of dogs. They have no right to be heard in any court in the world. They are treated like animals, for there is no human compassion, morals, or anything civilized among these people who enjoyed torturing cats and dogs when they were kids – just practicing for when they grew up. Look directly into their eyes. You will not see any soul.

Judge Rakoff, one of the rare real judges in New York, saw it all. His book “Why the Innocent Plead Guilty and the Guilty Go Free” features essays examining why innocent people plead guilty, why high-level executives aren’t prosecuted, why you won’t get your day in court, and why the judiciary is curtailing its own constitutionally mandated power. This is an excellent book from a judge who was offended by the corruption in the Department of Just Us.

Julian Assange stands ZERO chance of a fair trial. He stands a ZERO chance of being treated humanely. Death is preferable to living in the world these people have created.