The Israel Deception

Is the return of Israel in the 20th century truly a work of God, or is it a result of a cosmic chess move to deceive the elect by the adversary?

Saturday, July 20, 2019

Iran approves Gold Standard in creation of new sovereign cryptocurrency

Many in the cryptocurrency community have forecasted that unbacked digital currencies such as Bitcoin will either compliment, or even one day supplant sovereign currencies as the primary medium of exchange.  But what most of these cryptocurrency advocates fail to take into account is that governments are the ones who hold the power to determine what is and isn't legal tender.

For now cryptocurrencies do have their uses in the burgeoning technology known as a the Blockchain, but in what could become the first of many sovereign created cryptos, the nation of Iran announced on July 20 that they are preparing for the implementation of a gold backed cryptocurrency.

Who says the gold standard is dead?

The Tehran News agency has reported that Iran intends to launch a gold-backed cryptocurrency. This comes less than a week after President Trump slammed virtual currencies on Twitter amid tensions between the historic foes. The New agency reported the development on its English website. 
Accordingly, the Central Bank of Iran (CBI) has approved the issuance of new cryptocurrencies. This is according to the CEO of Iranian Information and Communication Technology (ICT) FANAP, Shahab Javanmardi.
Shahab described the measure as follows: 
“IRAN’S CRYPTOCURRENCY WILL BE SUPPORTED BY GOLD, BUT ITS FUNCTION IS SIMILAR TO OTHER CRYPTOCURRENCIES. THE CRYPTO ASSET IS DESIGNED TO MAXIMIZE THE USE OF IRANIAN FROZEN BANK ASSETS.” - Asia Crypto Today
Interestingly as well, both Russia and China are also in the process of creating sovereign cryptocurrencies that will most likely be gold backed in some form or fashion.  And with the most recent numbers out on bi-lateral trade along the new Silk Road 2.0 showing $600 billion worth of dollar and non-dollar transactions, it will only require a few simple steps to transition these agreements from fiat to gold now that the Blockchain is ready to supplant the global financial system.

Monday, July 15, 2019

European Union more than happy to place a convicted criminal at the head of the ECB

With the majority of people in the West having extraordinarily short memories, it should not be surprising that there has been little question of the IMF's Christine Lagarde being nominated to run the European Central Bank.  However if one goes back just two years you would find that Lagarde just happens to be a convicted criminal of financial crimes.


International Monetary Fund chief Christine Lagarde has been convicted over her role in a controversial €400m (£355m) payment to a businessman. 
French judges found Ms Lagarde guilty of negligence for failing to challenge the state arbitration payout to the friend of former French President Nicolas Sarkozy. 
The 60-year-old, following a week-long trial in Paris, was not given any sentence and will not be punished. 
The Court of Justice of the Republic, a special tribunal for ministers, could have given Ms Lagarde up to one-year in prisonand a €13,000 fine. – UK Independent
For Europe, the advent of a financial criminal running its central bank should not be a shock since its current Chief Mario Draghi was well known for fudging Italy's books in order to get them into the Continental Coalition.

What Lagarde's occupation as the head of the ECB portends is nothing short of terrifying for the populations of Europe as she has long admitted to being a staunch advocate of negative interest rates along with the need to eliminate cash in order for the central bank to seize total control over Europe's monetary system.

Fed set to institute full monetization of debt as early as 2020

While it is one thing to aid your primary dealers in buying U.S. Treasuries during scheduled auctions, it is quite another thing entirely to allow those banks to then borrow upon these very debt instruments you created.  And according to Deutsche Bank, this is exactly what will happen by next year.

In a report out by analysts at Deutsche Bank on July 14, the Fed is likely to launch a Repo facility in 2020 which would put the U.S. central bank on the main highway of full monetization.


Analysts from the German financial giant Deutsche Bank expect the US Federal Reserve to launch a new liquidity adjustment facility next year in order to spur US lending and business activity without implementing excessive monetary stimulus. 
Deutsche experts believe the Fed will introduce a repo scheme, providing commercial banks with money through repurchase agreements. 
According to a report by Deutsche Bank, the Fed is seeking to boost its lending to commercial banks by using Treasury bonds and other securities – mostly, bonds – as collateral. The repo facility could be formally introduced in several months, and Fed officials could soon start testing the scheme. 
“We reaffirm our expectations that the Fed could test this facility later this year and launch it for full-scale operations in early 2020”, Steven Zeng of Deutsche Bank wrote in the research note. – Sputnik News
Many analysts were already under the impression that since 2008, the Fed was monetizing nearly everything they could get their hands on.  But should they follow through with Deutsche Bank's assessment of a new Repo facility, then the monetization debate is now over.

Wednesday, July 3, 2019

"I love you 3000" as all indices close at all-time highs with S&P 500 and Dow on doorstep of 3000 and 27,000

In the market shortened session of July 3, risk was fully on as for the first time since January of last year, all three primary U.S. indices closed out the day at new all-time highs.

In fact if it weren't for the modified holiday trading schedule, the Dow probably would have crossed the 27,000 point and the S&P 500 would have received the Avengers Endgame treatment where Ironman's daughter told Tony that "I love you 3000".


Dow:


S&P 500:


Nasdaq:


Meanwhile, gold was sold off for equity risk after spiking to a new 6 year high yesterday of $1438.

Europe doubles down on monetary destruction by nominating IMF Chief Christine Lagarde to replace Mario Draghi

When the history books are written years in the future, the legacy of Mario Draghi will not be a good one.  In fact as the ECB head prepares to ride off into the sunset this October, he may well be labeled the central banker who destroyed the continent's single currency system.

And sadly, it appears that Brussels will not learn from their mistake in appointing a Goldman Sachs tool who was previously known for manipulating the numbers to ensure Italy made it into the Coalition, and is instead doubling down by nominating globalist and current head of the IMF Christine Lagarde to become the next President of the European Central Bank.

It's rare to find someone who is consistently wrong on everything. Christine Lagarde, whom the EU just anointed as the president of the ECB, comes close. 
To emphasize the point, Negative Interest Rates Benefit the Global Economy, Says IMF Chief Christine Lagarde. 
Subzero interest rates in Europe and Japan are “net positives” for the global economy, International Monetary Fund chief Christine Lagarde said Tuesday, though she warned that the side effects of unorthodox central-bank policies should be closely monitored. 
“We see the recent introduction of negative interest rates by the ECB and Bank of Japan —though not without side effects that warrant vigilance—as net positives in current circumstances,” Ms. Lagarde said. – FX Street
So to put it bluntly, Europe is preparing to replace one of the worst central bankers in history with an individual who not only praises his negative interest rate actions, but also believes Japan's 30 years of stagnation has been a good thing.

We have to wonder if Lagarde checked her numerology charts on this one, as Europe better be prepared for a another 4-10 years of jawboning and further money destruction.

Trump finds his perfect Fed candidate as he nominates gold standard and zirp enthusiast Judy Shelton to the Board of Governors

On July 2, President Donald Trump finally played his long-awaiting 'Trump Card' as he officially nominated Judy Shelton to fill a vacancy on the Central Bank's Board of Governors.


I am pleased to announce that it is my intention to nominate Judy Shelton, Ph. D., U.S. Executive Dir, European Bank of Reconstruction & Development to be on the board of the Federal Reserve Judy is a Founding Member of the board of directors of Empower America and has served on the board of directors of Hilton Hotels. - zerohedge

Not ironically, gold prices shot up to new 6 year highs on this news which came about an hour after the markets had closed.


However being a staunch advocate of a gold standard is not the only attribute that the President likes in Dr. Shelton as she is also a big believer in taking interest rates back down to zero.
In May, Shelton told the New York Times that Fed’s practice of paying interest on excess money that banks keep at the Fed was "like paying the banks to do nothing." She said it discourages lending of money and that she favors reducing interest rates to zero - something Trump has also criticized the bank for failing to do. – Sputnik News
In the end Dr. Shelton's perspective appears to fit perfectly into what Donald Trump wants for the financial system... destruction of the dollar and central bank system followed by the opportunity once it has collapsed to return to a system of gold backed money.

Thursday, June 20, 2019

Gold regains $1400 while silver hits $15.50

Following Jay Powell's signal that interest rate drops are on the way, just a day later on June 20 the price of gold suddenly broke through its 6 year hiatus to finally cross the Rubicon of a $1400 handle.


Additionally, silver has jumped strongly into the $15 handle with a move over $15.50.

The question that remains is... are we now at the point where the cartel either cannot, or will not work to keep down the price?  We should probably find out the answer in the coming days.

Sunday, June 16, 2019

Economic sanctions against Russia hit a snag as Moscow's new SWIFT alternative has nations lined up to participate

Tariffs and economic sanctions... these are the primary weapons that America has left in their arsenal as their influence over other foreign powers declines.  But unlike the consensus that Europe and the West willingly provided Washington over the past several decades, even this is beginning to erode as new controllers over global finance begin to rise.

In fact this new paradigm shift has not emerged from a single country, but from a partnership of equals that have the resources and military might to not only take on the U.S. and dollar hegemony, but to quite possibly even usurp it.

Russia's SWIFT alternative open for business


Banks based in several states are planning to participate in the Russian-developed money transfer network that serves as an alternative to the traditional SWIFT system, according to the head of the Central Bank of Russia (CBR). 
“It is open for external connection, we are developing it for our trade partners if they want to join. This work is already ongoing and banks of several countries are going to join, test connections already exist,” Elvira Nabiullina said at the first EU-Russia Student Conference in Moscow on Saturday. “We think it will be developing.” 
Moscow started working on its own payment service, which is dubbed the SPFS (System for Transfer of Financial Messages), amid threats that it could be disconnected from the internationally recognized SWIFT (Society for Worldwide Interbank Financial Telecommunication) system back in 2014. – Russia Today
Approximately 100 years ago, President Calvin Coolidge stated that the business of America is business.  But in the 21st century that slogan appears to have been passed onto two other regions of the world, where it is quickly being picked up by the growing financial centers of Moscow and Beijing.

Thursday, June 13, 2019

Hey Bernie, AOC, and all Democratic candidates... high school Valedictorian shows why government run socialism never works

With nearly all the primary Democratic candidates for President trying to push America full bore into authoritative Socialism, the one thing supporters of the economic model fail to realize is that programs and processes are not run by the figureheads, but by people and bureaucracies that in many cases are flawed and corrupt.

And in a wonderful example of how a small and local bureaucracy nicely hamstrung the best student in a California High School, a speech given by the Valedictorian laid out exactly why any and every form of Socialism fails.


Buhr began by unloading on her counselor, to whom she said: "Thanks for teaching me to fend for myself: You were always unavailable to my parents and I, despite appointments. ... You expressed to me your joy in knowing that one of your students was valedictorian, when you had absolutely no role in my achievements. 
She then slammed the office staff, saying "Thank you for teaching me how to be resourceful. Your negligence to inform me of several scholarships until the day before they were due potentially caused me to miss out on thousands of dollars
When applying for a work permit, you repeatedly turned me away, despite confirming with my employer and my parents that all of my paperwork was filled out correctly. I’ve had to escalate issues with staff to an assistant principal various times to reach any sort of solution." 
And finally - "To the teacher that was regularly intoxicated during class this year, thank you for using yourself to teach these students about the dangers of alcoholism. Being escorted out of school left a lasting impression," said Buhr, receiving applause from the audience.  
"I hope that future students and staff learn from these examples," she said in conclusion. - Zerohedge
When Lenin triumphed in overthrowing the Tsar of Russia back in 1918, it wasn't until his successor Joseph Stalin took power that the Revolution was able to achieve full authority over the land and people.  And the reason for this was because Stalin was trained as an administrator... a bureaucrat, and used his skills of organization to create a a system where the state thrived and the people lived in poverty and bondage.
Once power was in Bolshevik hands, the party leadership gladly left to Stalin tasks involving the dry details of party and state administration. In the power struggle that followed Vladimir Lenin’s death in 1924, the intellectual sophistication and charismatic appeal of Stalin’s rivals proved no match for the actual power he had consolidated from positions of direct control of the party machinery. By 1929 his major opponents were defeated; and Stalinist policies, which had undergone several shifts during the power struggle, became stabilized. Stalin’s doctrine of the monolithic party emerged during the battle for power. – Encyclopedia Brittanica
School systems today, along with most of the government, are built on many of the same bureaucracies originally forged out of Stalinism.  In this, there is to be no dissent, no one is allowed to be special or individual, and the bureaucracy is 'above the law' in that they cannot be held responsible for their actions.  And even beyond the education system we are seeing this today in full view of the FBI, the VA, and in nearly all other government agencies.

Today in Britain the bureaucracy that makes up their National Health System (NHS) has led to thousands of deaths per year as officials either ignore or conduct negligence under their Socialist based system.  And with all these current examples above occurring without nations even actually being labeled as Socialist, imagine how much worse it will be if the Marxists running for President have their way in not only bankrupting America, but in putting the people under a system that saw tens of millions die in both China, and the former Soviet Union.

Tuesday, June 11, 2019

Bitcoin's latest rise to $9000 shows that value investing is dead and that Americans are simply sheep running to the newest momentum trade

It was only about 18 months ago when cryptocurrency mania had driven up the price of Bitcoin to over $20,000 before market and sovereign interventions subsequently killed the asset class by more than 70%.  However as Chinese elites recently began using the crypto as a means to get their money out of the Yuan currency over the past two months, suddenly Bitcoin has become popular again as seen by the latest numbers in Google Trends.


It's hard to believe that Bitcoin has recently become more popular on Google than President Trump, Tesla, and Kim Kardashian, reported ConsenSys, a blockchain software technology company. - Zerohedge
Sadly, those who bought into the new hype have already lost nearly 13% as the price has fallen down below $8000, and on some days as low as $7400.  And even worse still is the fact that only once since December of 2017 has the price of Bitcoin reached half ($10,000) of its all time high from 18 months ago.

At the bottom of this re-emergence of interest in Bitcoin is the fact that Americans today are momentum traders rather than buyers of value.  And no greater example of this can be seen in how silver, which is a vastly important metal in the production of everything from Smartphones to Solar Panels, is at a historic low in the gold to silver ratio, and is the only, and I repeat only asset who's current price is below it's 1980 price.

There is a reason why the rich stay rich and why the average person does very well if they are able simply to just break even.  And that is because very few have the emotional fortitude or the diligence of learning to invest in what the wealthy do when the wealthy do, and instead relegate themselves to chasing momentum long after the smart money bought when there was formerly blood in the streets.

Last week's St. Petersburg International Economic Forum (SPIEF) solidified that America is fighting a 2 on 1 Cold War for global supremacy

For years, both Davos and Bilderberg were considered the forms in which the world's highest elite determined the future for economies and governments.  But with the re-emergence of both China and Russia from the ashes of their former empires, neither of these Western confabs can hold a candle to a new forum that hails from St. Petersburg.

Last week marked the 22nd year of the St. Petersburg International Economic Forum (SPIEF), and the 2019 version saw a major geopolitical event take place which fell under the radar for most of the media.  That is because the event that happened was the un-official, but very publicly implied partnership between Russia and China against the hegemony of the United States.

And as one of the more highly touted economic and geopolitical analysts Pepe Escobar stated, the Unipolar world is now over.


Something extraordinary began with a short walk in St. Petersburg last Friday. 
Chinese President Xi Jinping was the guest of honor of Russian President Vladimir Putin. It was Xi’s eighth trip to Russia since 2013, when he announced the New Silk Roads, or Belt and Road Initiative (BRI). 
In his St. Petersburg speech, Xi outlined the “comprehensive strategic partnership”. He stressed that China and Russia were both committed to green, low carbon sustainable development. He linked the expansion of BRI as “consistent with the UN agenda of sustainable development” and praised the interconnection of BRI projects with the Eurasia Economic Union (EAEU). He emphasized how all that was consistent with Putin’s idea of a Great Eurasian Partnership. He praised the “synergetic effect” of BRI linked to South-South cooperation. 
And crucially, Xi stressed that China “won’t seek development to the expense of environment”; China “will implement the Paris climate agreement”; and China is “ready to share 5G technology with all partners” on the way towards a pivotal change in the model of economic growth. 
It was obvious this was slowly brewing for the past five to six years. Now the deal is in the open. The Russia-China comprehensive strategic partnership is thriving; not as an allied treaty, but as a consistent road map towards Eurasia integration and the consolidation of the multipolar world. – Consortium News
Well President Trump... the ball is now in your court.  And with your European partners in the West edging ever closer to the side of Eurasia and the Pacific Rim, are President's Putin and Jinping the 'great friends' you continuously say they are?

Iran finally discovers the key to U.S. hegemony and calls for the world to eliminate use of the dollar

Terrorism can come in many forms, but undoubtedly the most powerful one is economic.  And that is because where a simple attack from extremists on a people, property, or symbol might be fleeting and even cause populations to rise up in retaliation, financial terrorism as in the form of economic sanctions can be very lasting.

Back in 2006, the UN imposed economic sanctions against the nation of Iran in regards to their alleged nuclear program, and these sanctions would last only 10 years thanks in part to a highly controversial deal known as the JCPOA.  However with the election of Donald Trump as President, that 'deal' was scuttled on the U.S. side and Washington once again began the process of ever increasing sanctions in order to try to force Iran to capitulate to what most would call 'spurious' demands.

Interestingly, Iran never quite called what the UN did to them economic terrorism because their sanctions were directed at a clear issue tied to Tehran's nuclear program.  However on June 9, Iran's Foreign Minister publicly has now officially called out the U.S. as a agent of terrorism for the economic sanctions they have imposed upon them via the Trump Administration.


"It amounts, by definition, to economic terrorism because the United States is putting pressure in terms of what its president calls warfare on normal ordinary Iranians in order to change the policies of their government", he told reporters on the side-lines of the event. - Sputnik News

And in an attempt to fight this 'terrorism', the Foreign Minister specifically called out America's control over the global reserve currency as the foundation for their rogue actions, and is calling on the rest of the world to join him in rejecting the dollar and dollar hegemony.

"America’s power rests on the dollar; a great part of America’s economic power will go away if countries eliminate the dollar from their economic systems", the minister said.

Fortunately for Iran, and perhaps not so fortunate for the U.S. is the fact that de-dollarization is an ongoing reality that began to really take shape around the end of 2013.  But like with any empire that stands on the cusp of disintegration, the world will experience much more chaos and turmoil before a paradigm shift occurs just as it did for nearly empires of the past.

Friday, May 31, 2019

FDIC closes first U.S. bank failure since 2017

On May 31, the FDIC closed down Enloe State Bank in Cooper, Texas making it the first bank failure in the United States since December of 2017.



The Enloe State Bank, Cooper, Texas, was closed today by the Texas Department of Banking, which then appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Legend Bank, N.A., Bowie, Texas, to assume the insured deposits of The Enloe State Bank. - FDIC
The DIF (Deposit Insurance Fund) cost to the public is expected to be around $27 million.

For those who were banking at Enloe State Bank, your deposits are not located with Legend Bank N.A..

2018 was the first year in more than a decade where the U.S. had zero bank failures.


Thursday, May 30, 2019

Hollywood hypocrisy: Outraged over their industry's sexual predators but in lock-step supporting the aborting and killing of babies

Ever since its inception, Hollywood has been a petri dish of infidelity, sexual perversions, and even pedophilia.  However despite the mock outrage that has come from some members of the industry who suddenly 'grew a conscience' when the #metoo movement uncovered a number of their secrets, abuse of children either born or unborn still remains high on their agenda.


And perhaps there is no better example of this in how many members of the film industry are publicly going against the will of the people in choosing to stand up for a program that has seen over 60 million babies aborted over the past 46 years.
Over the last several decades, Georgia has become known as the Hollywood of the South. It’s become one of America’s top movie and TV locations, thanks to generous tax incentives; in 2017, it surpassedCalifornia as a shooting site for the highest-grossing domestic films, and it’s also the backdrop for many TV shows, including Netflix’s Stranger Things and Ozark, AMC’s The Walking Dead, and the forthcoming HBO series Watchmen. But on May 7, when Georgia governor Brian Kemp signed into law an extreme “fetal heartbeat” bill that bans women in the state from having abortions after six weeks of pregnancy, the film community’s many liberal denizens began questioning the industry’s future in the state. 
A handful of Hollywood producers and production outfits such as David Simon,Killer Films (First Reformed), Color Force (Crazy Rich Asians), and Mark Duplassvowed to boycott the state in the wake of the law. “Don’t give your business to Georgia,” Duplass tweeted last week. “Will you pledge with me not to film anything in Georgia until they reverse this backwards legislation?” Actress Zoe Kazan joined in, tweeting, "Actors, producers, directors: refuse to film in georgia & alabama. call the governors, tell them why." – Vanity Fair
Netflix:

In response to Georgia’s new law prohibiting aborting babies with a detectable heartbeat, Netflix said that the company may "rethink" filming in Georgia if the law goes into effect. In response, some conservatives are saying they will consider boycotting Netflix if they follow through on the Georgia boycott. – Daily Wire
Disney:
Disney CEO Bob Iger said on Wednesday that if Georgia carries out the state's strict new abortion laws, telling Reuters that it would be "very difficult" for the company to continue filming in the state because "many people who work for us will not want to work there, and we will have to heed their wishes in that regard."  - Zerohedge
For the most part, corporations have one single responsibility under the law, and that is their fiduciary responsibility to their shareholders.  This is why pharmaceutical companies are rarely held criminally liable for selling toxic products, or why many decisions within companies are made primarily by beancounters versus moral advocates.  But what is most interesting in the current debate between Hollywood and the states which choose to legislate according their their constituents will is that a potential boycott of the state of Georgia has nothing to do with money, but with the political ideologies of a craven and sexually deviant industry.

China expanding internationalization of their RMB currency as Portugal becomes first Eurozone nation to sell Yuan denominated bonds

While China is in the process of expanding their currency through one side of the equation, that of bi-lateral trade, financial systems elsewhere are also helping them along by issuing Yuan denominated bonds on their exchanges.  And in a first for the Eurozone, Portugal on May 29 officially kicked off Chinese debt issuance through their selling of RMB denominated bonds.


Portugal has become the first euro-area country to tap the Chinese bond market. Lisbon announced last week its intention to sell 2 billion yuan ($289 million) worth of bonds with a maturity of three years. 
The sale of the so-called ‘Panda’ bonds or yuan-denominated debt issued by a non-Chinese entity took place Wednesday and Thursday. 
Portugal’s Finance Minister Mario Centeno told CNBC that the issuance is a “positive step in managing Portugal’s external debt in the medium term.” He said the sale will allow Portugal to expand its investor base. 
Placing ‘Panda’ bonds is an opportunity that Lisbon could not miss, according to the head of Portugal's debt agency IGCP, Cristina Casalinho. She said earlier: “Today we crucially depend on the investor base we have and what we know is that investors that, for example, buy German debt do not invest in higher risk debt.” 
She went on, saying that “It is important especially if we take a long-term perspective… China has been diagnosed as one of the countries with the highest savings in the world, and that it could be... a big operator or a big intervener in financial markets.”
To be a major player in the global currency game one must be able to sell bonds denominated in one's own currency in order to allow nations to hold it as a reserve in their banking systems.  And while China has over the past decade expanded global use of the RMB from around 9% in 2012 to over 14% here at the end of the decade, they still have a long ways to go to be considered on par with the dollar, euro, yen, and pound.

Mutual use of the RMB by a growing number of nations through bi-lateral trade has helped China to establish itself as a viable player in the currency game as even OPEC countries like Qatar and Saudi Arabia are now accepted the Yuan in lieu of dollars.  And as the world rushes headlong into de-dollarization through their fears of potential sanctions and other U.S. aggressions, this policy shift has opened the door for China to expand their influence, even in the realm of RMB internationalization.

Central bank gold buying goes beyond just major economies as Serbia and the Philippines join in the fun

Whether it was the Bank of International Settlement's (BIS) new policy shift that now acknowledges physical gold as a Tier 1 reserve asset, or the fact that global de-dollarization is occurring in full swing, gold buying by central banks is at its highest levels in over 40 years.

And in a report out on May 30, it appears that accumulating gold is no longer limited to major economies as both Serbia and the Philippines have gotten into the mix.


In a major turn of events, Serbia and the Philippines have decided to join the global bullion-buying spree amid similar efforts by world central banks.
According to Vecernje Novosti, Serbia will increase its gold reserves from 20 to 30 tonnes by the end of 2019, and then up to 50 tonnes over the next year as a safety measure.
The decision was reportedly made following the meeting of the country's president, Aleksandar Vucic, with an IMF delegation, where the fund's representatives told him that they'd approve of Belgrade's gold-buying if it fit into Serbia's strategy of beefing up foreign exchange reserves.
The current data of the National Bank of Serbia suggest that the nation's foreign exchange reserves are presently worth 11 billion euros.
As for the Philippines, the Bangko Sentral ng Pilipinas has announced that a law has been passed exempting gold sales by small-scale miners to the central bank from excise and income taxes to boost the country's foreign exchange reserves and prevent smuggling. - Sputnik News
While talk of returning to a global 'gold standard' in some form or fashion has resurfaced in recent years due to the rise of China and the advent of dollar rejection, for now the precious metal is being seen as an important part of a nation's attempt to remain solvent in a world saturated by debt.  And smaller economies like Serbia and the Philippines are not he only ones jumping onto the bandwagon as we saw the nation of Kyrgyzstan start their own gold accumulation going back to 2016.

Monday, May 13, 2019

Hints of gold returning as sound money as Trump readies new Gold Standard Fed Governor while Congressman submits bill to audit gold supply

With two of President Trump's primary picks to fill vacant slots on the Federal Reserve's Board of Governors having dropped out in recent weeks, rumors of his newest pick could very well send shockwaves through the central bank.  And that is because according to Mish Shedlock in an article published on May 12, Trump appears to be readying Gold Standard advocate Judy Shelton as his next nominee.


Economist Judy Shelton, a Trump economic advisor and a gold standard advocate is rumored to be Trump's next Fed pick. 
Bloomberg reports White House Considers Economist Judy Shelton for Fed BoardThe White House is considering conservative economist Judy Shelton to fill one of the two vacancies on the Federal Reserve Board of Governors that President Donald Trump has struggled to fill. 
She’s currently U.S. executive director for the European Bank for Reconstruction and Development, and previously worked for the Sound Money Project, which was founded to promote awareness about monetary stability and financial privacy. – Money Mavin
Judy Shelton had been a strong pick early on in President Trump's plans for the Federal Reserve before moving into the role as an adviser and administration financier.

Yet this news of bringing Shelton onto the Fed Board of Governors is not the only gold based news to arrive at the government's doors as just last week, Congressman Alex Mooney submitted a bill before the House to call for a full and complete audit of the nation's gold supply.
U.S. Representative Alex Mooney (R-WV) introduced legislation this week to provide for the first audit of United States gold reserves since the Eisenhower Administration. 
The Gold Reserve Transparency Act (H.R. 2559) – backed by the Sound Money Defense League and government accountability advocates – directs the Comptroller of the United States to conduct a “full assay, inventory, and audit of all gold reserves, including any gold in ‘deep storage,’ of the United States at the place or places where such reserves are kept.” 
HR 2559 requires more than just a physical assay, inventory, and audit, however. Even if all United States gold can be physically accounted for, it may nevertheless be encumbered with third-party obligations – or otherwise be impaired by bank financialization. – EIN Presswire

With the BIS making the sudden and urgent shift to allow physical gold to become a Tier 1 reserve asset for the central banks, perhaps we should not be surprised that President Trump and his allies in Congress are trying to prepare the way for a return of the Gold Standard in some form, especially as the dollar continues to lose its hegemony on the world stage.

Monday, May 6, 2019

Central bank validates that the purpose of money printing was to transfer wealth to the rich

While the circus of Democratic Presidential candidates continue to try to outdo themselves in who would tax (steal) from the rich the most, the saddest part in all of this is that they also continue to defend the very entity that helped make them rich.

Because in a new study published by Netherland's central bank in April of this year, researchers concluded that even going back to the 1920s, the end result of any and all money printing by the world's collective of central banks has been to enrich the top 1%.
Authored by Mehdi El Herradi and Aurélien Leroy, (Working Paper No. 632, De Nederlandsche Bank NV), the paper "examines the distributional implications of monetary policy from a long-run perspective with data spanning a century of modern economic history in 12 advanced economies between 1920 and 2015, ...estimating the dynamic responses of the top 1% income share to a monetary policy shock." 
The authors "exploit the implications of the macroeconomic policy trilemma to identify exogenous variations in monetary conditions." Note: the macroeconomic policy trilemma "states that a country cannot simultaneously achieve free capital mobility, a fixed exchange rate and independent monetary policy".Per authors: 
"The central idea that guided this paper’s argument is that the existing literature considers the distributional effects of monetary policy using data on inequality over a short period of time. However, inequalities tend to vary more in the medium-to-long run. We address this shortcoming by studying how changes in monetary policy stance over a century impacted the income distribution while controlling for the determinants of inequality." 
They find that "loose monetary conditions strongly increase the top one percent’s income and vice versa. In fact, following an expansionary monetary policy shock, the share of national income held by the richest 1 percent increases by approximately 1 to 6 percentage points, according to estimates from the Panel VAR and Local Projections (LP). - Zerohedge
Yet besides ultra wealthy individuals like JP Morgan's Jamie Dimon and the former CEO of Goldman Sachs becoming billionaires following the Fed's introduction of QE money printing after 2008, a recent article even shows that the central banks themselves were transferring wealth to themselves as seen by the fact that the Bank of Japan itself holds so many assets derived from money printing that they are now considered a Top 10 Shareholder in 50% of all public companies.


Sadly, most Americans are ignorant of the warnings given to them by our Founding Fathers, who in the case of Thomas Jefferson foreshadowed this over 250 years ago.


"I believe that banking institutions are more dangerous to our liberties than standing armies,"  Jefferson wrote. "If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around(these banks) will deprive the people of all property until their children wake up homeless on the continent their fathers conquered."

And judging by how many homeless live in wealthy cities like New York, San Francisco, and Seattle, perhaps if the Democrats wanted to actually do something about poverty and wealthy inequality they would simply look inward and realize that it was their legislation passed in 1913 that is the root of this calamity.

Friday, May 3, 2019

While Democratic Presidential candidates push for trillion dollar universal free college, here are five ways it can be done on the cheap

In the race to 2020, Presidential candidates on the Democratic side are falling all over themselves in a rush to see who can promise the most free stuff to a voter base who no longer questions the fact that their politicians never actually fulfill these promises.  And one of the primary focuses they are pushing is that of free education for all, and dissolution of student loan debts.

However it is beyond a proven fact that whenever the government gets involved in a particular industry, both costs and prices tend to skyrocket to the point where consumers can no longer afford them.  And this has been particularly true starting in 1965 when the introduction of Medicare came into the healthcare system, and later for education when in 2010 President Obama nationalized the student loan industry.

Healthcare costs:


As you can see by this chart, prior to the advent of the Great Society and the government's move into backstopping healthcare, costs were relatively stable as market competition and the lack of inflation led to affordable prices.  However as with any industry when you add in additional liquidity primarily due to monetary expansion (increased US debt), it causes prices to rise as the natural order of markets becomes manipulated.

Similarly, here is what has happened to the cost of education both for K-12, and at the University level when the government chose to subsidize the industry first in 1979, then again in 2010.

K-12 per student costs - 1979 (when Dept. of Education was formed) - 2018


Costs of education at University level 2010 - 2018 after government nationalized student loans


The kicker in all of this of course is that despite the fact that costs have increased between 20 and 200% in some cases, the value of education has not as seen by nationwide literacy charts.

So anyone with two brain cells can easily deduce that more money thrown at the problem won't both improve service, or cut costs... which leads us to ask the question then of what will accomplish both?

Even going back to the Dark Ages, rulers have understood the potential benefits to their nations and empires if even the most common individual had some semblance of an education.  However today's rigid and closed education system has lost its original mission of expanding minds and training tomorrow's workers to instead be more of an assembly line where diplomas are given out to whomever was willing to pay the exorbitant costs no matter if they actually learn anything of substance.

So with this in mind I wanted to throw out my two cents on the topic and provide new ideas on how the U.S. could deal with the viable issues of student loan debt along with providing an inexpensive way to open up higher education to all.  And below are five ideas on the subject.

1.  A nationwide online University system

Since the government is subsidizing the University industry with hundreds of billions of dollars both through student loans and outright grants, it is time to instead take this money and build an open and online curriculum system that covers virtually all Degree level courses at minimal cost.  And what is perhaps the most significant thing about this system is that study by individuals can be done at their own leisure, and not under the time constraints demanded of them by colleges.  So for those who are slower learners, or who either have a family or work long hours, they can take as much time as they need to absorb the information necessary to be able to pass a test which would give them the credits applicable towards their Degree.

Additionally, those who already have a working knowledge of a given class subject can choose to accelerate through the coursework, and then take the test whenever they choose.

Which of course brings us to the question of testing.  Since the government would be in control over the online system, they would hire Proctors and have them placed in every major population center and region.  And each Proctor would have access to a series of tests (perhaps 10 completely different ones for each course), and evaluate the student in a live environment to determine if they have passed the course.  And should the student fail in their testing, they would not be penalized with a 'grade' but simply informed they need to go back and study further before retaking the test.

In the end this would solve three major problems... first, a way to provide inexpensive education at the University level to every American.  Secondly, it would spawn price competition within the legacy college system where they would need to adapt their prices to compete with the government.  And third it would end up providing a massive benefit to the nation as a whole by having a larger portion of its citizens being educated and skilled.

2.  End Federal subsidizing of Universities

It is high time to end the subsidizing of Universities, both at the student loan level and at the grant level.  Many Universities, especially those in the Ivy League, already have endowments in the amount of billions of dollars and can very easily pay for their own research and then profit from the results of that work.

3.  End Professor tenures.

Most professors achieve tenure NOT based upon their ability to teach, but on their abilities to publish and acquire grants from the government.  In fact in many instances, tenured professors no longer even teach courses in the Department they are assigned to but instead pawn off their responsibilities to grad students or other instructors.

4.  Incentivize needed career fields

It is the right of any student to study in the career field of their choice, but rarely does a Degree held in 'Gender Studies' serve society beyond that of perhaps an HR Department.  And with the government desperately in need of STEM workers and researchers in order to keep up with the rest of the world, incentivizing these career fields for students would go a long way in solving the problem of shortages.

5.  Bring back a form of the 'Peace Corps' to help Americans pay off their student loans

Every psychologist and criminologist knows that condoning bad behavior only leads to more of it.  So the idea of dissolving or allowing the default of one's student loans means the taxpayer absolves them of their bad choices and responsibilities without a consequence.  So in order to provide a beneficial solution to all in regards to the crisis that is student loan debt, I am proposing a return to a concept that worked during the 1960s and 70s, but instead of going out and serving the world through a few years of charitable work, students willing would fill positions in the government, military, or other parts of society where they would replace retiring workers in public service on a temporary basis, and have 20-50% of their paychecks garnished towards the paying off of their loans.

For those willing to do this, yes it could mean 5-10 years of their lives relegated to a limited choice of lifestyles, however since most of the money is owed to the government anyway, it would provide a benefit to both while in the end also providing experience to the worker they might not have gotten it in the normal economy.

While it is not in my nature to go to the government for solutions that the free market could in the past have easily provided, unfortunately we are in a place where the government is already involved in nearly every aspect of society.  So for now it is best to try to adopt solutions to industries like education using the tools and systems we already have in place while at the same time trying to minimize costs as much as possible since we already know that throwing MORE money at a problem has rarely solved anything.

Rabobank fears that Fed policies are headed towards the US losing control over the dollar as the global reserve currency

As dollar shortages and an underlying global liquidity crisis spurred on the central bank to lower IOER rates during the Fed's recent mid-point FOMC meeting, analysts from one particular bank are suddenly questioning whether Powell and his Board of Governors have lost control over monetary policy.

Additionally, if this assessment should prove accurate could it also be the final death knell for the dollar's place as the world's reserve currency?


One week later, and following the Fed's admission that even it was surprised by how quickly the overnight funding market plumbing had gotten clogged up, others are starting to ask the very question we posed a week ago. 
In a note published overnight by Rabobank's Phillip Marey, the US strategist - just like us - asks "Is the Fed losing control of the policy rate system?" Needless to say, the answer could have profound implications not only for the future of US monetary policy, but whether or not the dollar can remain as the world's reserve currency in a world in which the US central bank loses the ability to set the price of money. - Zerohedge
 Below are more details from Rabobank.
What to make of the lack of a formal warning? In the first place, it means that the recent rise in the federal funds rate took the Fed by surprise. In the second place, it means the Fed thought it could not afford to wait for another six weeks. This shows that the Fed’s current framework for monetary policy implementation is not working. It has difficulty keeping the effective federal funds rate close to the midpoint of the target range announced by the FOMC. Moreover, the changes in the IOER rate present a challenge to the Fed’s communication to the public: the central bank is tweaking one of its policy rates now and then, but this supposedly has nothing to do with its monetary policy stance? What’s more, this time the Fed could not even afford to  give a formal warning to the markets. Today’s decision proves the failure of the current policy rate system. 
Therefore, the Fed’s debate about effective monetary policy implementation is likely to continue. While the current system has two floors, the interest on excess reserves (IOER) and the overnight reverse repurchase agreement (ON RRP) as we discussed back in 2015, it is lacking a ceiling. At the press conference, Powell said that the FOMC will be looking at a repo facility as a possible tool in an upcoming meeting, think about it for a while, and then make a decision. 
We take the inversion of the yield curve more seriously and we continue to expect the economy to fall into recession in 2020H2. Consequently, we think that the Fed will be forced to start cutting rates in 2020.

Sadly, printing more dollars has been the central bank's 'only solution' to every perceived problem over the past 10 years. And with the end result being that debt levels have reached untenable heights at every level of the economy (sovereign, corporate, consumer), it is beginning to appear that even the banks are fearing that the Fed has taken things to the point where they have lost control over the system, and could lead to the rest of the world to losing all remaining confidence in the dollar.

Sunday, April 21, 2019

As China's Belt and Road forum kicks off this week, Arab nation attendance provides a strong confirmation to end of Petrodollar

With China's Belt and Road confab set to kick off this coming week in Beijing, an astounding number of Middle Eastern nations are expected to attend.

And with representatives from 17 Arab countries confirmed to be participating in the new Silk Road project, it all but validates that the long-standing Petrodollar system is at an end.


Beijing has inked cooperation deals on its multi-trillion-dollar Belt and Road Initiative (BRI) with 17 Arab countries, state-run Xinhua News Agency reported, citing the results of a joint Sino-Arab forum. 
The second China-Arab Forum on Reform and Development, which was held in Shanghai on Tuesday, attracted more than a hundred businessmen, politicians, and academics from China and Arab states, including Egypt, Lebanon, Djibouti, and Oman. This year’s meeting, dubbed ‘Build the Belt and Road, Share Development and Prosperity’, was dedicated to boosting the project. - Russia Today
 All in all, representatives from 37 countries will be attending this forum between April 22-25.  And what makes this trade project a real threat to the U.S. and dollar hegemony is that much of it will be done bilaterally, and in currencies that are outside the global reserve.
Chinese currency renminbi (RMB), or the yuan, has gained a bigger popularity overseas, especially in countries along the Belt and Road as the B&R construction advances smoothly. The use of Chinese currency sees a huge development potential in the B&R countries with further rise of cross-border trade, which can be settled in RMB since 2009. 
According to data released by China’s central bank, the People's Bank of China (PBOC), 3.71 trillion yuan worth of cross-border trade was settled in RMB in the first three quarters of 2018, and a growing number of countries and regions have accepted the settlement of cross-border transactions in RMB. 
International demand for RMB is increasing. The thirst for RMB may be found in the booming currency swap between China and foreign countries and hot selling of Panda bonds in B&R countries. - yidaiyilu.gov
While President Trump continues to try to break apart global trade through the use of tariffs and economic sanctions, China appears to be focusing on new markets where competitive advantages are being tied to the strength of each nation's own money, and not within the restrictions formed on them through the Petrodollar.

Bitcoin and other cryptocurrencies will continue to be relevant since 2.5 billion people still function in black market economies

With the OECD reporting that nearly two and half billion people, or a good 50% of all those eligible to be part of the global labor pool, work in jobs that aren't readily regulated by various governments, it would not come as a shock that one day soon cryptocurrencies could play a much greater role in the financial system.


Nearly two billion people work in it. And it accounts for perhaps 20% of the world’s total economic activity. 
“It” is the black market, or System D, a slang phrase adapted from the French word débrouillard. A débrouillard is a resourceful and self-reliant person. A débrouillard figures out how to get what they need regardless of the obstacles. The obstacles are usually the laws or price controls put in place by the state. 
There are a lot of débrouillards in the world. In 2009, the Organization for Economic Co-operation and Development (OECD), estimated that around 1.8 billion people – at the time, half the world’s working age people — had unofficial jobs that weren’t registered, regulated, or (in many cases) taxed. The OECD estimated that by 2020, two-thirds of the world’s workforce would be part of System D. 
The OECD considers anyone between the ages of 15 and 64 to be “working age.” As of mid-2018, about 65% of the world’s 7.7 billion people were working age; that’s about 5 billion people. If half of them rely on System D to support themselves and their families, that comes to 2.5 billion people. – International Man
 Additionally, the World Bank reported back in 2017 that approximately 1.7 billion people do not conduct business using a banking institution.

What this means of course is that as the internet grows to connect the entire globe together, those needing to, or even simply wishing to stay off the radar will have to find some form of payment system which will allow them to function financially as everything eventually becomes digital.  And these systems appear likely to include Bitcoin or another of the myriad of cryptocurrencies available now, or coming in the future.

Friday, April 19, 2019

Bernie Sanders is very much like Karl Marx in their getting rich through Capitalism while espousing everyone else should live under Socialism

Perhaps one of the biggest reasons why Bernie Sanders is such a staunch advocate for Socialism and Communism is that his own life appears to mirror that of the very philosopher who created those economic models.


Both Karl Marx and Bernie Sanders were indifferent students at college and dedicated much of their time towards radical activism.

Marx -  Karl's dad got him into a number of fine schools. He wasn't a very good student so the family connections came in handy (more exposure to how unfair the system was).  His father wanted him to get into law, but Marx preferred philosophy and history.

Sanders - Sanders studied at Brooklyn College for a year in 1959–60 before transferring to the University of Chicago and graduating with a bachelor of arts degree in political science n 1964. He has described himself as a mediocre college student because the classroom was "boring and irrelevant," while the community provided his most significant learning.

Then early in life both Marx and Sanders chose to get married but were unwilling and unable to support their wives or their children.  In the case of Sanders he had a child out of wedlock after his first wife left him and the child and mother often lived in squalor.  Meanwhile, Marx allowed three of his progeny to die of starvation.

Bernie shacked up with Susan after splitting with first wife Deborah, sources said. 
The pair raised Levi in an “informal arrangement,” according to an insider, with the boy calling his dad “Bernard.” Levi sometimes went hungry, and lived in the dark in their rental apartment. “The electricity was turned off a lot,” recalled a pal, Nancy Barnett. 
“He (Bernie) couldn’t pay his bills.” - National Enquirer
Since neither Marx nor Sanders had the internal fortitude to make a living by their own labor, they learned to game the system.  In the case of Marx, he used his charm to coax money from banks and from a rich benefactor named Fredrich Engles while Sanders often lived on welfare until friends encouraged him to carpet bag to the state of Vermont where he slipped into politics.

Now decades later Bernie Sanders is still preaching the ideals of socialism and Marxism but is doing so as one of the bourgeoisie.  In fact in recent tax filings produced to the public by Sanders as he tries once again to run for the Presidency it shows that not only is he one of the 5% of top wealthy Americans, he did so through the very Capitalist system he claims to abhor.
When confronted as being among those he has long villainized, Sanders became defensive: 
“I wrote a best-selling book,” he declared. “If you write a best-selling book, you can be a millionaire, too.” 
Translation: "I made my money fair and square, so quit hassling me about it." - Mises.org
The fact of the matter is neither Karl Marx, nor Bernie Sanders wanted to live under Socialism, but whew their inner loathings of themselves evolved into where they now seek to project their miseries onto the rest of the world through authoritarian philosophies.  And this is why radical Marxists like Sanders don't really believe in the rhetoric they spew since what they really want is to be just like those they claim to hate and will try to accomplish that by any means necessary.

Wednesday, April 10, 2019

With young males already on the precipice of collapse, is the next step for Western society to simply abort boy babies?

In perhaps one of the most important 'Tales of Two Cities' in modern day history, the West, and in particular the United States, is going out of its way to destroy the future of the male species.  And the reason why we denote two cities here is that for centuries China did just the opposite as they were at the forefront of culling females in their society.

Female infanticide has existed in China for a long time, and although the One Child per Family policy has added to the problem, it didn't cause it. 
The One Child Policy was introduced by the Chinese Government in 1979 with the intention of keeping the population within sustainable limits even in the face of natural disasters and poor harvests, and improving the quality of life for the Chinese population as a whole. 
Under the policy, parents who have more than one child may have their wages reduced and be denied some social services. 
Despite the egalitarian nature of Chinese society, many parents believe that having a son is a vital element of providing for their old age. Therefore in extreme cases, a baby is killed if it is not of the preferred sex, because of the pressure not to have more than one child. - BBC
America is now at its own crisis as feminism, political correctness, fatherless households, and a dedicated disdain towards anything masculine is threatening to change the landscape of the country completely since there are very few willing to stand up for the needs of both men and boys as they suffer through mental, emotional, and psychological disintegration.
It is a crisis of education. Worldwide, 60% of the students who achieve less than the baseline level of proficiency in any of the three core subjects of the Program for the International Assessment are boys. Even boys’ IQs are dropping. 
It is a crisis of mental health. Boys’ suicide rate goes from only slightly more than girls before age 14 to three times that of girls’ between 15 and 19, to 4 1/2 times that of girls between 20 and 24. Mass shooters, prisoners and Islamic State terrorism recruits are at least 90% male. 
It is a crisis of physical health. American men’s life expectancy has decreased two-tenths of a year even as American women’s has remained the same. Boys and men are dying earlier in 14 out of 15 of the leading causes of death. – End of the American Dream
And with even the media going out of their way to promote women while at the same time degrading men, one wonders if society will one day soon follow the China model since newly passed abortion laws in several states will allow mothers to actually choose who they kill and who they might want to keep, even if that choice is dependent upon the child's sex.

Sunday, April 7, 2019

Goldman Sachs validates that the only thing propping up stocks are share buybacks and Dovish Fed policies

For anyone with a technical chart and two brain cells to rub together, they know that the primary thing that has helped the stock markets recover from their 60% decline from a decade ago was monetary intervention from the central banks.


But when the Fed decided they needed to slow down their monetary expansion due to the yield curve threatening to invert and the advent of real inflation reaching above 10% in late 2016, something was necessary to replace the Fed put and keep stocks artificially propped up.  And that something of course was an increase in share buybacks.


Ironically, the December/January crash of stock prices entering into 2019 appears to have been intrinsically tied to the Q4 earnings period where the SEC placed a blackout for share buybacks during this time.  And of all things, on April 5 Goldman Sachs stepped up to validate this as Congress begins to discuss whether companies buying back their stock should be further regulated.
Goldman's valiant effort to halt regulatory and legislative focus on buybacks - which also included Goldman’s ex-CEO Lloyd Blankfein issuing a rebuttal defending the practice on Twitter, saying the money “gets reinvested in higher growth businesses that boost the economy and jobs" did little however to stem the tide and as a result buybacks have been getting increasing scrutiny in the wake of the tax reforms in late 2017, when companies used money saved from the lower taxes as well as repatriated cash to return money to shareholders in record amounts, with total announced buybacks surpassing $1 trillion for the first time in 2018. 
As a result, Republican Senator Marco Rubio of Florida released a plan last month that would curb buyback incentives. Democratic Senator Chris van Hollen of Maryland may propose legislation curbing executive share sales after repurchase announcements. The culmination - so far - was the US Senate convening hearings and introducing legislation to prohibit public companies from repurchasing their shares on the open market. 
This was too much for Goldman, which realized that the carrot approach is not working, and late on Friday went all "stick", when one month after his first report exposing buyback "misconception", Goldman's David Kostin doubled down, effectively warning that a ban on buybacks would likely result in a market crash, as "eliminating buybacks would immediately force firms to shift corporate cash spending priorities, impact stock market fundamentals, and alter the supply/demand balance for shares." - Zerohedge
When you couple in the fact that the Fed announced they were halting the raising of interest rates during their January FOMC meeting, and even hinted towards returning to an interventionalist policy in markets, it should be no surprise that the Dow, S&P, and Nasdaq all saw a massive recovery from their December swoon, and it confirms to the world that the only thing propping up stocks are share buybacks and central bank credit infusions.

Wednesday, April 3, 2019

Forget capital gains, Democrats now want to steal a portion of your wealth portfolio at the end of each year

It's high time we stop calling what the Socialists and Democrats want to do taxes, and instead call it what it really is... theft from those who have.  Because it appears that this is the case when the latest scheme concocted from Congressional Democrats is to force you to pay them a tribute on any wealth you might hold in paper assets.

Even before you have sold them or not.


The top Democrat on the Senate’s tax-writing committee has proposed taxing unrealized gains in investment assets every year at the same rates as other income, offering not only an idea that would transform how the U.S. taxes the wealthiest people, but a solid reason for those same people to get the hell out of America. 
The proposal from Senator Ron Wyden of Oregon is the latest berserker plan from Democratic lawmakers and presidential candidates for boosting taxes on the wealthy to address economic inequality and provide funding for their policy agenda. And while this specific proposal has little chance of becoming law soon - or, one hopes, ever - such ideas could quickly gain momentum if the party succeeds in next year’s elections. 
What is especially insane is that this proposal is effectively the polar opposite of that other bananas proposal putched by AOC and various other Democrats, namely MMT, or money printing, because why bother taxing anyone, rich, poor or otherwise, if you can just print all the money you need. We are confident we won't get a satisfactory answer, ever. 
Going back to Wyden’s suggestions, capital gains would be taxed annually based on how much assets have gained in value. - Zerohedge
So in essence this proposal would destroy investors, savers, retirement plans, but most importantly, anyone who owns a public company.  Ie... Unless someone like Jeff Bezos has billions in liquid cash, he would be forced to sell enough shares each year to cover the cost of this new tax, and in a short amount of time would end up being a minority shareholder in the company he created and founded.

In the end anyone, be it politician or business owner, who calls for government to siphon more wealth from the producer, is doing it so that they, nor their so-called constituents, can reap the benefits of other people hard work and money.  Because all one has to do is look throughout history at the rulers who gained power promising socialism and you would find that nearly all of them... from Hugo Chavez, to Fidel Castro, Mao Tse Tung, and the former Soviet Polit Bureau, were all millionaires and billionaires who gained their wealth by advocating it be taken away from those who actually earned it.

While consumers may not be buying gold bullion en masse in the West, gold jewelry sales are expected to reach a four year high

Contrary to Wall Street's long-standing propaganda that gold holds no function in one's wealth portfolio, it is interesting and even quite hypocritical that central banks have been purchasing the metal at their highest levels since Nixon took the dollar off the gold standard.

Likewise while the gold price has remained depressed thanks to manipulation on the part of the paper gold markets, a new report out shows that despite the fact that consumers may not purchasing gold bullion en masse, they certainly are buying tons of gold in jewelry form.


Increased consumption by jewelers is expected to boost global demand for gold to its highest level in four years, an annual report by Metals Focus reveals. 
One of the world’s leading precious metals consultancies expects the global consumption of gold to reach 4,370 tons in 2019 – the highest since 2015. The projected quantity is slightly up from 4,364 tons consumed last year. 
Global gold supply is projected to see a modest increase of one percent to 4,707 tons in 2019. Growing production of the precious metal in West Africa, Canada and Russia will be reportedly offset by lower production volumes in South Africa, China and Indonesia.
Consumption of the precious metal for jewelry is forecast to rise by three percent to 2,351 tons, boosted by increases of seven percent in India and three percent in China. The world’s two biggest gold consumers will reportedly offset lower demand in the Middle East. 
The report titled Gold Focus 2019 notes that gold purchases by central banks, which saw enormous growth of 75 percent last year, will drop nine percent to 600 tons in 2019, while physical investment demand will remain mostly unchanged at 1,082 tons. – Russia Today
Perhaps what stands out as well in this consumer push for the precious metal is the fact that gold exploration and production have begun to fall through the floor since 2017, and there are real signs that Peak Gold has emerged, making this report another canary in the coal mine that demand for gold will continue to outpace supply.