Economic pressures

[Danny B]

EU stimulus,,,media ramping up the blame game for Trump prior to the blowup and ele

Germany was the bog cho cho pulling Europe.
8/21 Germany sells world’s first 30-year negative yielding bond… and it’s a failure – ZH
8/21 Germany likely to head into recession, central bank warns – Guardian
8/18 Germany’s Scholz: don’t expect higher interest rates for years – Reuters

8/21 More eurozone stimulus expected after inflation revised down – WaPo
Yep, massage the numbers if you need to justify pumping in more liquidity. The banks say, "If we just had more money, we would be able to start lending into the economy again."
They need the money to roll-over all their bad paper from all the defaults.
8/21 Iran plans currency devaluation – GATA
Iran plans to knock off 4 zeros off the Rial notes.
"If passed by parliament and approved by lawmakers, Iran's central bank would in effect devalue the rial "
YES, absolutely ! Give the money renters time to switch into another currency before it goes into effect. They'll buy Roubles, dollars and gold. The Rial will crash even further when there is no demand for it in the FX markets.

Trump is NOT playing games when it comes to opioid production coming from China.
https://www.zerohedge.com/news/2019-...tion-crackdown
" Treasury Targets Chinese 'Kingpins' In Opioid Distribution Crackdown
The Zheng DTO even agreed to manufacture adulterated cancer medication, creating counterfeit pills that replaced the active cancer-fighting ingredient..."


SHALE OIL NEXT VICTIMS: The Major Oil Companies
by SRSrocco - Aug 21, 2019 1:30 pm
As the situation continues to deteriorate for the small to mid-sized shale operators, the next victims will be the major oil companies.

"The fact is, the pattern the media is following today matches almost exactly with the pattern they followed leading up to the credit crash of 2008. Make no mistake, a financial crash is indeed happening RIGHT NOW, just as it did after media warnings in 2007/2008, and the reasons why the MSM is admitting to it today are calculated."
"Alan Greenspan even admitted partial responsibility, saying the Fed knew there was a bubble, but was "not aware" of how dangerous it really was. This was a lie. According to Fed minutes from 2004, Greenspan sought to silence any dissent on the housing bubble issue, saying that it would stir up debate on a process that “only the Fed understood”

"According to the evidence, which I have outlined in-depth in previous articles, central banks and international banks sometimes engineer crash events in order to consolidate wealth and centralize their political power even further. Is it a conspiracy? Yes, it is, and it's a provable one.

When they do finally release the facts, or allow their puppet media outlets to report on the facts, it seems that they allow for around 6-8 months of warning time before economic shock events occur. In the case of the current crash in fundamentals (and eventually stocks), the time may be shorter. Why? Because this time the banks and the media have a scapegoat in the form of Donald Trump, and by extension, they have a scapegoat in the form of conservatives, populists, and sovereignty activists."
https://www.zerohedge.com/news/2019-...cession-threat

China's Gold Reserves Jump For 7th Month; 1H19 Consumption, Production Slump
".has "rooted out" 31 zombie company gold-producers that rely on government bailouts to survive."
You see, China wants gold so bad that they will underwrite gold production at companies that are not profitable. In a general sense, the CBs are paying a lot more for gold than market price.

" China's Ultimate Play For Global Oil Market Control
..while all attention is focused on the very noisy US-Iran dispute in the Persian Gulf, the People’s Republic of China (PRC) is rapidly and quietly consolidating a dominant presence in the area with the active support of Russia."
Same for Venezuela.
"SHALE OIL NEXT VICTIMS: The Major Oil Companies
by SRSrocco - Aug 21, 2019 1:30 pm
As the situation continues to deteriorate for the small to mid-sized shale operators, the next victims will be the major oil companies."
NOT TO WORRY. We will wake up one day and,,,, a new electric car will be sitting in the driveway.

"Investor sentiment"
"Per Peter: Confidence requires perceptions of certainty and control. Easily grasped narratives – even when they are woefully incorrect – fulfill both needs. Not sure that there is a formal name to the bias, but I would call it “Explanation Bias” – we need an easy story to fight against the anxiety that would arise from what would otherwise be randomness. And randomness is untenable. "
"much steeper decline is not necessarily about finance and economics; behavioral instincts are now in play. "
https://realinvestmentadvice.com/the...und-the-world/

8/21 Trump team braces GOP donors for a potential ‘moderate and short’ recession – Politico
Yeah right,,, break it to them easy.

The trade war is going to push the economy off a cliff. Trump precipitates the trade war early to give China a better shove off same cliff. There is speculation that Trump believes that America won't be affected. He knows better.

City Council to declare Portland a 'sanctuary city' - oregonlive.com
Portland Mayor: Trump's Threat to Bus Immigrants to Sanctuary Cities
Portland begins sending homeless people to other cities, including Coos Bay
The City of Portland introduced a program in 2016 called Ticket Home .... We are getting homeless being shipped to Coos Bay

[Danny B]

Currency pegs,,,big-bribes,,, total war economy

Armstrong writes about currency pegs and, says that they never work. This isn't true. The U.S. was on a gold standard for many years in the 1800s. It broke when the State wanted big wars. The U.S. dollar was once again pegged to gold by the Bretton Woods agreement. This peg broke when the welfare-warfare state was created. The bankers and politicians, both being parasites have no qualms about inflating without limit.
Armstrong; "ANSWER: No, the two are not connected. Bretton Woods collapsed on August 15th, 1971. The peak in Britain’s GDP came in 1973. Nixon closing the gold window was by no means discretionary. To the contrary, there was no alternative.

The gold standard failed as it always does. You simply CANNOT FIX the value of money. It was stupid to create Bretton Woods with a fixed exchange rate."
The Bretton Woods agreement was an attempt to forestall future wars by limiting bond and currency expansion.
"The government cannot fix the money at some arbitrary value and then spend whatever they want, thereby increasing the supply of the currency while keeping the value to gold fixed.'
"They tried to fix the pound in the European Exchange Rate Mechanism and it blew up in their face."
"Currency pegs all face the same fate. The British attempt to fix the pound after World War I was absurd. On September 20, 1931, Britain abandoned the gold standard. It was an event that has scarred political memories for two generations, "
The problem is the WAR STANDARD.
https://www.armstrongeconomics.com/m...currency-pegs/

"People do not realize but Pharmaceuticals/Health Products are the #1 contributor as an industry to bribing Congress. They have given almost $4 billion to them to get this monopoly status."
https://www.armstrongeconomics.com/a...edical-reform/

"Once again, even going back to 1995, estimates placed about $200 billion to $250 billion of U.S. currency was circulating abroad. That was more than 50% given the physical money supply even back then was about $375 billion in circulation outside of banks. More recently, the amount of US currency in circulation outside the United States has now exceeded 70%. The world is hoarding dollars for they fear the cancellation of their own currencies as talk of eliminating cash in Europe has escalated with the prospect of Christine Lagarde replacing Draghi.

As Americans have moved increasingly toward debit and credit cards, the rest of the world has been sucking-up US dollars beyond belief. Anyone who questions whether the US dollar is the reserve currency, well the cash is not being held by governments or central banks. The people are now hoarding US dollars at record levels. "
https://www.armstrongeconomics.com/m...-that-1-bills/
Keep in mind that Iran, and now, Peru have been printing up $100 bills for many years. Armstrong mentions that American currency has never been cancelled YET.

America has a war economy. It is disgusting.
https://www.zerohedge.com/news/2019-...s-endless-wars
Here is a video interview with a retired general who lays it all out. Everything in America is wrapped around the war economy.
https://www.youtube.com/watch?v=kgig1QVU2lY

France is demanding that U.K. pay up for the Bexit divorce.
https://www.youtube.com/watch?v=kgig1QVU2lY
8/22 Panic as Brexit sparks slowdown – report sends shock waves through EU – Express
8/22 BLS revises payrolls 501,000 lower through March – Mish
I'm sure that this is some kind of a mis-print.
8/22 ‘A total failure’: Homeless crisis in progressive cities reaches fever pitch – Zero Hedge
So, what is progressive about mountains of rats, garbage and feces?
8/22 Armageddon now or later? Industrial IoT is the new cyber battleground – Silicon Angle
8/22 Cyber threats to worsen with tech advances: Israeli expert – Express
Like kinetic warfare, there is nothing that you can build that somebody else can not blow up.
Trump again says US can 'win' Afghan war 'in a week' Without Nukes Or killing 10 million
Yep, just pull out and, call it a win.
Pox Americana invaded Afghanistan a few months after the Taliban cut out opium production. WE got production way back up because the bankers needed the liquidity. The Taliban plan to clean up the country.
https://www.presstv.com/Detail/2019/...ce-talks-Ghani

[Danny B]

Oil??,,, Ice Age in bonds extends,,,, debt-free money to be distributed

Imagine that you had a tapeworm and, you could communicate with it. You complain to your tapeworm that is is severely weakening you and you can't continue to work.
Armstrong, "In Australia, they want to make it a criminal act with a penalty of 2 years in prison for purchasing anything with more than $10,000 in cash. Australia is really going off the deep end. They are desperately trying to eliminate all cash and are forcing people to have only bank accounts so they can tax them as they like."
" This ensures that when there are bank failures, they can just confiscate the people’s money to save the bankers."
https://www.armstrongeconomics.com/w...10000-in-cash/

Here are 2 conflicting articles on oil.
https://www.rt.com/business/467045-u...-world-in-oil/
And
https://oilprice.com/Energy/Energy-G...-In-Years.html
The first article glosses over the enormous financial losses in the oil sector.

3 articles to skim on bonds. if bond yields are negative, what happens to bond funds?
https://www.zerohedge.com/news/2019-...es-go-negative
Decades ago, Albert Edwards predicted an "ice age" in bond markets. As of today, there are $19 billion with negative yields. Edwards claims that investors are discounting the future and, have piled in to all the negative paper.
"This means that "the bubbles are not in the government bond market in my view. They are in corporate equities and corporate bonds."

If Edwards is correct about the locus of the next mega-bubble, it is very bad news for risk assets as the "global deflationary bust will wreak havoc with financial markets", prompting Edwards to ask a rhetorical question:

Does anyone seriously believe that in the next global recession equity markets will not collapse? Do market participants really believe fiscal stimulus and helicopter money will save us from a gut wrenching global bust that will make 2008 look like a picnic? "
OK, he talks about a collapse of corporate paper and equity markets. Remember that Armstrong predicts that sovereign debt will collapse and private equity will "survive".
Edwards writes about GOV bonds, "It is Edwards' opinion that "we are on autopilot until we get" to 0.5%."
Armstrong claims that eventually, there will be a high rate demanded for GOV bonds and, a low rate for private debt. Edwards has a good record for accuracy,, so does Armstrong.
At the moment, they are in complete apposition.
"Edwards then points us to the work of Gaurav Saroliya, Director of Macro Strategy at Oxford Economics who "certainly doesn’t think that QE is depressing bond yields."
The more money that flows in, the lower the yields. How can they claim that QE hasn't depressed yields?
"Referring to the implied upcoming plunge in nominal GDP, Edwards explains that "that is why this is not a bond bubble. It is the next phase of The Ice Age. And it is here.""
https://www.zerohedge.com/news/2019-...there-lot-more

Another article on negative yield bonds.
https://www.kpvi.com/news/national_n...3b2b630c7.html
I can't help but think that this is an implementation of Keynes, "euthanasia of the rentier"

8/23 Could cheap debt help the global economy spend its way out of trouble? – OZY
It has never worked before so, by all means, give it a try.
8/22 Russell 2000 company debt hits all-time high, can small-cap woes get any worse? – MW
Yes

"This week he published an extraordinary piece in the Financial Times. There he correctly identified a problem, perhaps the biggest problem of our age: “there is not enough monetary policy space to deal with the next downturn. Conventional and unconventional monetary policy mainly boosts growth by lowering short and long-term interest rates. But this requires rates to go lower, and there is nowhere left for rates to go.” Quite right. Then he goes and spoils it all by saying that central bankers, in order to generate “higher inflation”, need to take an “unprecedented venture” and go direct and set about “finding ways to get money more directly in the hands of entities that can spend it, including consumers.” "
This is important to consider. The CB force-feeds the private banks by loading them up with "excess reserves" so that they can continue to loan to people. People are debt saturated and, won't borrow. Seeing the train going off the rails, there are emerging propositions to bypass the debt-money & bankers and, get debt-free money into the purses of would-be consumers.
"This kind of suggestion, that central bankers should collaborate and flood the world with cash, in the hope that it will make the next recession less ghastly, is not only out-of-the-box thinking; it’s out of this world thinking."
The bankers will, of course, resist being bypassed.

" a piece in the FT which called for the European Central Bank to print money in order to buy shares in European companies to “improve European growth prospects”. If you think this idea is obviously a non-starter, think again – the Bank of Japan has been buying share in Japanese companies for years, for all the good it has done Japan’s GDP growth."
NO MENTION of wage growth.
https://glintpay.com/en_us/economics/dirty-harry-time/

8/23 Somebody else, not ETFs, took most gold sent to London in July – GATA
Gold is slowly coming into view as an alternative to GOV manipulation.
8/22 Bitcoin vs. gold: Is bitcoin really a new ‘safe haven’ asset? – Forbes
The State doesn't want any competition with it's paper being regarded as a store-of-value. It will never allow a real competition in crypto. Gold is another story. The CBs are loading up on gold.
8/23 Israel-Iran war escalates with airstrikes in Iraq – Washington Times
Trump refuses to kick off a war for israel so, they are trying to get one going on their own. Sooner or later, they are going to push too far.

[Danny B]

Everybody trying to guard a niche

A tribe is an extension of a genetic family. A state is just an administrative creation purportedly created to facilitate mutual protection and prosperity.

"The Treasury and Justice departments deposited more than $5 billion into their respective asset forfeiture funds. That same year the FBI reports that burglary losses topped out at $3.5 billion."
Crime pays. GOV service pays even more.
Rummel, "His research shows that the death toll from democide is far greater than the death toll from war. After studying over 8,000 reports of government-caused deaths, Rummel estimates that there have been 262 million victims of democide in the last century. According to his figures, six times as many people have died from the actions of people working for governments than have died in battle.
One of his main findings is that liberal democracies have much less democide than authoritarian regimes.[10] He argues that there is a relation between political power and democide. Political mass murder grows increasingly common as political power becomes unconstrained. At the other end of the scale, where power is diffuse, checked, and balanced, political violence is a rarity. According to Rummel, "The more power a regime has, the more likely people will be killed."


Sean Hannity: Media, Democrats 'want people to suffer' in recession
Trump accuses news media of trying to crash the economy
Rooting for a Recession Is Dangerous The Nation
Washington Post praying for a recession to defeat Trump.

So, we have finance that wants to keep tight control over the economy. The fact that crooked finance blew up the Savings & Loan business is not relevant. The S&L crash cost the taxpayers $1 trillion.
The Marxists and war mongers who created the welfare-warfare nightmare blew up the gold standard that had brought stability and peace. When the gold standard disappeared, inflation of the money supply went ballistic. The peculiarities of the Bretton Woods deal produced Triffins Dilemma And America's war-by-credit card.

The war & banking conglomerate wants to keep strict control over the American populace. The whole economy revolves around war production.The police State has been rolled out everywhere. The State is attacking and fleecing it's "tax donkeys".
The 9/11 charade was used to lock down domestic surveillance and control even tighter.

State sanctioned monopolies overcharge us horrendously. Big Pharma poisons us. Big Ag poisons the ecosystem regardless of the many die-offs.
The legislature is locked in a power struggle that will never die out.
The Cloward-Piven strategy out of Chicago calls for everybody to demand State help until the demands collapse the State. The left believes that; after the collapse, a bright phoenix will rise up out of the ashes.

The recession has started. Will the legislature put aside partisan problems and, work together.
Will the bankers surrender power and allow debt-free money to be disbursed to forestall riots and revolution?

Will the globalists Stop trying to implement their insane attempts at total centralization and control?
Will the Sunni and Shia sit down and make peace?
Will israel finally give up on the idea of "greater israel?"
Will America abandon it's permanent war footing?

Armstrong calls for China to come out on top.
China will become the largest economy in the world and take the crown from the United States because America lacks the political stability to foster long-term economic growth like China."
A point
Unless the Supreme Court outlaws Marxism, there is no hope for the United States to survive long-term. Our political system will self-destruct the economy."
Does Armstrong think that China is a stranger to the complete State control advocated by Marx?
China, in contrast, has a long-term plan. Its politicians are a career employee, but they need not stand for election. That actually allows for actual long-term planning "
Yes indeed,,, the same kind of planning that the eurocrats have used to destroy the Eurozone. Just because they work for the State,,,,, this implies that they know what they are doing?

United States cannot compete because of the polarization in American politics dominated by free-market Adam Smith v Marxist Socialism. This political war keeps getting worse and it is tearing the economy apart."
Armstrong loses sight of the fact that the Deep State, MSM, automation and, israel are tearing America apart.
China had no problem allowing investment in its financial sector because there is a serious problem which can use capital at this point in time.,"
The PBOC at one time created more liquidity that the FED, BOJ and BOE all put together. China is not liquidity constrained. Why would they need outside capital? China wanted to switch over to a domestic-consumption economy. If they raise wages, everything will shift to Viet Nam, Laos, Bangladesh, India and all the other places with a high birth rate and low wages.
China’s banks are not intricately connected to US banks as was the case with European and American banks."
They have a huge exposure to derivatives at Deutsche bank.

Therefore, a debt problem in China is more likely to have an isolated Asian influence rather than create a contagion infecting the US economy directly."
"isolated Asian influence" Remember when the "Asian Tigers" blew up? It was felt around the world.
Capital is fleeing Hong Kong. The spectre of past atrocities is never far away.
Opinion: Another Tiananmen Square in Hong Kong?
The Chinese fertility rate is below replacement. Like America and several other countries, the more that the police State cracks down, the fewer people are willing to bring children into a messed up world. Japan is a different story altogether.

The big question is; Will paralysis at State level make the recession even worse?
Everybody wants to guarantee the continuation of the power and success of their particular niche.

[Danny B]

not a run of the mill crash

Lots of interesting stuff to read. For the first time in American history, the media is actively promoting the idea that America is crashing financially. Keep in mind that the media is owned by jews. Some years ago, Netanayahooo said that America could "dry up and blow away when israel was done with it". Is it possible that israel and the jews don't realize that israel can NOT survive without it's MAJOR patron? Is MSM so blind? Is the deep State so obsessed at stopping Trump that it is willing to help initiate a complete economic breakdown? Do these power groups believe that this coming crash will be run-of-the-mill?

In the dotcom crash, gamblers threw money at unicorns. The unicorns couldn't pay it back. In 2008, the gamblers threw money at SUB-prime borrowers. They couldn't pay it back. The bad paper was taken up by the State. The next crash is projected to be in Government debt. Does anybody believe that the GOV can crash financially without taking down most everything else?

" We are now witnessing the death throes of the free market. The massive and record-breaking global debt overhang, which is now $250 trillion (330% of GDP), demands a deflationary deleveraging depression to occur; as a wave of defaults eliminates much of that untenable debt overhang."
"In point of fact, the free market is no longer being allowed to function. Communism has destroyed capitalism,"
WRONG, crony capitalism has destroyed free-market capitalism.
"They have destroyed the savings and investment dynamic and turned time backward."
THEY being the parasitic money renters who had no savings of their own.
"Every time market forces begin to take over, some government announces a fiscal stimulus package and/or a particular central bank announces a proposal to print yet more money."
"The all-important Aggregate Hours Worked index is a measurement of the total number of workers times the average hours in a workweek. Despite the 2,162,000 of net new jobs created for all private-sector employees from 7/2018-7/2019, the Index for aggregate weekly hours was unchanged at 111.9 during that period. "
"The Treasury Department said federal spending in July was $371 billion, up 23% from the same month in 2018. "
"Servicing costs for this current fiscal year’s National Debt are almost a half-trillion dollars ($497 billion through July) –and will be higher than 2018′s record $523 billion once this fiscal year ends in October. "
MAYBE, we should use debt-free money.
"The NY fed announced that consumer debt is now $1.5 trillion higher than 2008. Total Consumer Debt is at a record $13.9 trillion."
Party on Wayne.

"the major global central banks alone have printed $22 trillion since 2008. They have created the biggest bubble in the history of planet earth known as the sovereign debt bubble." This has kept employment going.
"Alternatively, they can keep on printing and watch hyperinflation obliterate the economy. That is the unavoidable outcome of creating a 633% increase in the supply of base money since 2008."
NOT that simple.
"there is over $1 trillion worth of corporate debt that now has a negative yield."
"Indeed, what central bankers have created is sort of a time machine. They have reversed the clock when it comes to the time value of money. "
There is NO time value on free money.
"the growing mountain of negative-yielding debt has flipped time upside down; where savers lose more money as time passes"
They aren't savers,,, Gamblers.

"Wall Street loves to say that gold is a bad investment because it doesn’t have a yield and it cost you money to store it. Well, you know what else doesn’t have a yield and costs you money to store it: Sovereign debt–27% of the developed world’s total global supply now has a negative yield. And that trillion-dollar pile of negative-yielding corporate debt is surging by the day."
The Central Bank Time Machine | Pento Portfolio Strategies LLC | Mid-week Reality Check Podcast

"Today we see how utterly mistaken was the Milton Friedman notion that a market system can regulate itself. We see how silly the Ronald Reagan slogan was that government is the problem, not the solution "
Greenspan said the same thing. Where he made his big mistake was in thinking that banks would do whatever was best for the bank. Ignoring the fact that this would most likely be bad for investors and the economy, there is a second problem. The individual investors / gamblers would do what was best for them OR their ego. This turned out to be very BAD for the bank. Barings Bank made it through innumerable wars and depressions. ONE trader destroyed them after 237 years of success.

"The people on Wall Street still don’t get it. They’re still puzzled—why is it that people are mad at the banks? Well, let’s see. You know, you guys are drawing down 10, 20 million dollar bonuses after America went through the worst economic year that it’s gone through in decades, and you guys caused the problem. "

— President Barack Obama (December 2009)

"we find that in the period 1875-1913, a period of marked expansion in international trade and capital flows comparable to the last three decades, there were only four banking crises worldwide.1"
I'm sure that it couldn't have been the limitations imposed on liquidity creation by the GOLD STANDARD.
"By contrast, in the period 1978-2009, a period of much more extensive bank regulation, central bank intervention, government protection of depositors and other bank creditors, and government control of mortgage markets, about 140 banking crises occurred worldwide. Of these, 20 were more severe than any crisis from the earlier period of 1875-1913, in terms of total bank losses as a percent of GDP."
Government regulation of the banks was a toothless paper tiger. Unlimited monetary inflation buys up all the politicians as needed.

"What changed in recent years that led to business risk-taking capable of wrecking the U.S. housing market and the U.S. banking system and other banking systems throughout the world? Further, why were prudent credit practices reasonably maintained in credit card and commercial mortgage securitization in recent years, but wholly abandoned in residential mortgage securitization?"
"Lenders made millions of loans to borrowers who, under normal market conditions, weren't able to pay them off. "
"this claim ignores that for years irrational lending standards have been forced on lenders by the federal Community Reinvestment Act (CRA) and rewarded (at taxpayers' expense) by multiple government bodies."
"The CRA forces banks to make loans in poor communities, loans that banks may otherwise reject as financially unsound. Under the CRA, banks must convince a set of bureaucracies that they are not engaging in discrimination, a charge that the act encourages any CRA-recognized community group to bring forward.
According to one enforcement agency, "discrimination exists when a lender's underwriting policies contain arbitrary or outdated criteria that effectively disqualify many urban or lower-income minority applicants."
The 8astards,,, they didn't want to lend money to people who couldn't pay it back.

"we identify a potent mix of six major government policies that together rewarded short-sighted collective risk-taking and penalized long-term business leadership:"
How Government Failure Caused the Great Recession - AEI
So, the State forced banks to loan to people who could never pay it back.

[Danny B]

Recession biting harder

Steve Keen is a very smart guy who really understands the many problems. He has a vid where he explains the reason and order in which the zombies will fail.
https://www.youtube.com/watch?v=qk_17ewZzow
Rense,
One Of The Largest TBTF Banks In America Boldly Declares The Wheels For A Slowdown Are In Motion'
Investors searching for safe havens hoard 'paper gold' in record numbers
Yep, Morgan Stanley says that the wheels are going to come off. Paper gold is a speculative vehicle, NOT a safe haven.
Australia's Millionaire Visa Programme Surges as Hong Kong's Wealthy Flee Amid Protests
US 'Totally Unprepared' to Deal With Recession Warns Union Bank Chief Economist
8/24 China’s enormous debt ‘no longer can be ignored,’ analyst says – CNBC
8/24 China warns U.S. to stop ‘wrong’ trade actions or face consequences – Reuters
I'm sure that Trump is shaking in his loafers.
8/24 Larry Summers comes clean, admits central planners are impotent – ZH
8/24 Global economy suffers from high debt with US in worst shape – Peter Schiff
8/24 Hong Kong chaos crashes earnings, worst since 2008 – Zero Hedge

8/24 Money printing can’t replace saving as the engine of economic growth – Mises
Not as long as it is debt money.
8/24 World needs to end risky reliance on U.S. dollar: BoE’s Carney – Reuters
8/24 Carney urges libra-like reserve currency to end dollar dominance – Bloomberg
WE already have the SDR. What else do you need?
8/23 Trump was right – the dollar just hit an all-time high! – Zero Hedge
And that destroys dollar debt service in emerging markets.
"“Harvard University economist Lawrence Summers warned central bankers that they are staring at ‘black hole monetary economics’ where small changes in interest rates and even more aggressive strategies do little to solve demand shortfalls."
Ah yes, demand shortfalls. Somebody finally noticed.

[Danny B]

armstrong

I always seem to cite Armstrong over all others.
"Meanwhile, we face the biggest Bond Bubble in the history of civilization. The last time something like that took place, it did not end very nicely for civilization.

We are looking at such an important shift this time in the Business Cycle that those attending the WEC this year will also receive ongoing video updates as needed because things are not going to be just a walk in the park. "
"We have so many markets at critical junctures as we head into the ECM turning point, this year’s WEC is going to be a critical forecasting event. Most importantly, we have to face not just a Monetary Crisis Cycle, which is becoming obvious to everyone as the British pound takes a nosedive, but everything from Energy to Agriculture is in the staging ground for the next ECM along with precious metals."
"Central banks (some who have been attending the WEC), are now beginning to lobby the fiscal side trying to warn them of impending doom and how they CANNOT possibly prop-up the world economy this time around."
"The ONLY way to survive this is going to be with Socrates because there is ABSOLUTELY no precedent to which we can refer to in history."
Nope, no precedent for birth control and electronic money.
https://www.armstrongeconomics.com/a...-big-fake-out/

"I am publishing for attendees for the first time the Dark Age Cycle. In addition the Manipulating the World Economy which is a detailed account of central banks and how the entire system has been managed which is now slipping through their fingers, we have indeed the first time in modern history when such things have converged. Historical accounts exist, but well before the 17th century"
" Here you will learn a shocking reality behind the curtain of the Euro.

The Fate of Europe is a very important report for you need to understand the backdrop to what we face going forward. Like the Great Depression, the crisis will begin in Europe and spread like a contagion."
Great Depression One started in an Austrian bank, Credit Anstalt.
"With the majority of economists now talking up a bear market and a recession in an effort to desperately overthrow Trump in the 2020 election, "
Be VERY careful what you wish for.
https://www.armstrongeconomics.com/a...wec-this-year/

In his blog, Armstrong shoots from the hip. I find tons of mistakes in word choice, syntax, punctuation. Here is a funny one.
Securing the Boarder – The Democrats
Obviously border is misspelled. I don't care.
Climate change and corruption.
https://youtu.be/RUBrV0VFcbY

[Danny B]

Contagion,,, zombies have employees

Way back in the 1920s, the world's banks were not integrated to any great degree. Just the same, when Credit Anstalt blew up, it spread to everything. In 1989 when Russian bonds defaulted, the meltdown of Long Term Capital Management nearly brought down the entire financial system.
This brings us to China. The Yuan is crashing.
https://www.zerohedge.com/news/2019-08-23/yuan-crashing
8/23 Trump was right – the dollar just hit an all-time high! – Zero Hedge
IMF, "China’s zombie firms also overlap considerably with the state-owned enterprises. Together this group accounts for a large share of corporate debt (about 6-11 percent of GDP" "the share of zombies in total corporate debt rose quickly by 4 percentage points of GDP during 2008-16,"
Chinese zombie debt is < 15% of GDP?

China is underestimating its US$3 trillion dollar debt and this could trigger a financial crisis, says economist
Does China have enough US dollars to survive the US trade war
China desperately needs dollars to service dollar-denominated debt. If the Yuan drops by half, China needs twice as many dollars to service a given loan. As Trump cuts off China trade, the Chinese get ever-more desperate for dollars.

Don't ever forget; scratch a Chinaman,,, find a communist. The Chinese central party has it all planned out. BUT, central planning has never worked out. It ALWAYS results in massive malinvestment. The Chinese built up a massive export economy never considering the fact that they were taking the income of their best customers. They planned to eventually switch over to a domestic consumption economy. They never considered that they might not be able to escape from the global-mean-wage that they had created. As automation bites in to low-skill jobs, billions of people vie for China's job niches. The proposed Chinese switch to high wages never happened. China built MANY millions of houses and infrastructure projects that a low-wage country can't sell to it's own people.
https://www.youtube.com/watch?v=nGHmk4UeK_w&t=231s

Global banks are 17 times more exposed to China than Greece -
Bank of England warns on UK exposure to China's credit boom
European banks have $3 trillion of exposure to emerging market debt

13 percent of the world's companies are 'zombies
One in 10 US companies is a "zombie" at risk of default
The Fed Created An Economy Of Zombies And Unicorns - Forbes
Central Banks Are Spawning A Zombie Apocalypse
Nobody will come out and say that wages and employment are inadequate to keep the economy going.

8/25 Trump on US-China trade war: ‘I could declare a national emergency’ – CNBC
Don't worry, You'll get your chance
8/25 S&P 500’s floor Is creaking as Trump tweets stocks into danger – Bloomberg
8/25 UK birth rate plunges to lowest level in 80 years – Zero Hedge
China will have 626 million cameras in operation to keep an eye on EVERYBODY.
https://www.dailymail.co.uk/news/art...OPLE-year.html
After blowing up the American political establishment, Trump is moving on to a bigger target.
https://www.washingtonexaminer.com/n...the-g-7-summit

[Danny B]

Musical chairs atop the bond volcano

Couple of short vids on the China slowdown.One is from the Financial Times, a globalist mouthpiece.
https://www.youtube.com/watch?v=t487ILVf87k&t=111s
https://www.youtube.com/watch?v=dN8SoArb2rk&t=113s
https://www.youtube.com/watch?v=nGHmk4UeK_w&t=231s
Keep in mind that Trump is doing his best to shove them off the cliff. At the bottom of the cliff lies revolution.
8/26 China’s companies have unseen foreign debt that’s maturing fast – Bloomberg
China desperately needs dollars/
China built itself relying on purloined technology. At one time, they had 22,000 workers mining the net for non-classified tech. Their workforce is shrinking,,, a holdover from their 1-child policy. They are short 22 million women so, it is safe to assume that they drowned 22 million female infants. As they lose the huge influx of peasants, the wages are rising, making them less competitive with low-wage competitors.

Armstrong, "I have reviewed the buyers of these negative bonds which now amount to $15 trillion outstanding globally. What is actually taking place in the market is really dominated by punters rather than investors. In other words, the people have been buying them to flip assuming rates would just go lower."
"The crisis on the horizon is MASSIVE!!!! These punters are going to get caught as they did with the Russian bonds when they collapsed in 1998 which led to the Long-Term Capital Market crisis. This is a game of musical chairs. Nobody thinks twice as long as rates decline. But the appetite for negative yields does NOT exist insofar as people actually investing in them."
"The trend looks to be getting ready to change when the ECM turns. BUYER BEWARE!!!!
We may yet see the biggest bubble in the modern history of finance explode far worse than the 2007-2009 debacle."
There you have it. Bond values tank and, we have massive "deflation"

"QUESTION: Marty, you have said this is the historic bond bubble of all times with interest rates at a 5,000 year low. Will you elaborate on the bond bubble at the WEC? It seems like this may be the granddaddy of all shorts."
"ANSWER: We have an Institutional Report on the Bond Bubble. We have a lot of pension funds and institutional clients where that is the main focus. Nevertheless, we cannot lay out the future of all markets without diving into the Bond Bubble. It is this which will influence the Monetary Crisis Cycle and dictate the trend in share markets as well as commodities."
In other words, buy my report. The money renters want to continue to make money on sovereign debt. The States want to implement debt-free money. That would be the end of the bond market. This is a huge struggle to implement Keynes "euthanasia of the rentier"
An Indian proverb, When the elephants fight, it is the grass that suffers.

Here is an excellent article about corporate debt. Armstrong claims that sovereign debt will crash. BUT, the State has a printing press and, the private sector does not. Corporate debt WILL eventually blow.
https://www.zerohedge.com/news/2019-...sk-flash-crash

Here is another article on bonds that projects "daily liquidity" problems.
https://www.zerohedge.com/news/2019-...quidity-crisis

Trump has put the PPT to work to give the "can" a good kick down the road.
https://www.zerohedge.com/news/2019-...-pboc-peg-band
This next article is completely off-topic. Reportedly, a Texas company has come up with a method for eliminating back EMF in an electric motor.
https://www.zerohedge.com/news/2019-...lectric-motors
Somebody should repost this to a more appropriate thread.

Art of the deal UK style;
Johnson to Announce Cut in Brexit 'Divorce Bill' to $11 Billion In Case of No-Deal - Reports
Mega Group, Maxwells and Mossad - The Spy Story at the Heart of the Epstein Scandal - Or...The US Is Now Being Totally Controlled By Organized Crime
Galloway - 'Ghislaine Maxwell Is A Mossad Informer Who Was Epstein's Handler'

[bistander]

No bemf?

...
This next article is completely off-topic. Reportedly, a Texas company has come up with a method for eliminating back EMF in an electric motor.
https://www.zerohedge.com/news/2019-...lectric-motors
Somebody should repost this to a more appropriate thread.
...

No need. It is BS hype to get funding. Where do you read or hear "elimination of back emf"? I didn't see that particular BS claim among so many others. FWIW, without back emf, a motor will have zero output power.

Regards,

bi

[Danny B]

I hope that i can get my $ 4.5 million back.

[Danny B]

Peak of globalization,,,, SDR still a non-starter

Globalism probably sounded like a good idea to some people. The reality is far different. It only benefited 6 countries. Now, even those six are going down.
The Automatic Earth has a very good article on reversing globalism. I need to quote a lot of it.
"Bank of England’s outgoing governor Mark Carney talked about a Synthetic Hegemonic Currency (SHC) that the world ‘must’ create, "
"He even mentioned Facebook’s Libra ‘currency’ as some sort of example for something that should replace the US dollar internationally. And that replacement is allegedly needed because countries are hoarding dollars. And/or “protecting themselves by racking up enormous piles of dollar-denominated debt.” Whichever comes first, I guess?!"
Just wait til the default fairy appears.
"Carney warned that very low equilibrium interest rates had in the past coincided with wars, financial crises and abrupt changes in the banking system. As a first step to reorder the world’s financial system, countries could triple the resources of the IMF to $3 trillion as a better alternative to countries protecting themselves by racking up enormous piles of dollar-denominated debt."

Greece got reamed really badly by the IMF. I'm sure that hundreds of countries are ready to sign on to something created and controlled by the IMF.
"While such concerted efforts can improve the functioning of the current system, ultimately a multi-polar global economy requires a new IMFS (international monetary and financial system) to realize its full potential,”
"I’m thinking Carney is not just wearing blinders, he’s simple too late. The globalization that his proposals might serve is already past its peak. He may not be able to see beyond it, but we should.
Globalization is a process, it’s something that moves, it can’t stand still. And now that it’s fully reached China, there’s nowhere else for it to go. "
"perhaps counter intuitively, the only thing it can really do is to move back. For a number of different reasons, I think that’s exactly what will happen. And I don’t think that’s all that bad. Trump is of course already preparing part of that move with his tariffs war. But it can, and I’m quite sure will, go much further."
"but the main effect of that is it kills our jobs. The narrative about this over the past few decades has been that we were building a ‘knowledge economy’ or a ‘service economy’, but that’s a whole lot of BS."

"And Trump plays his role in this just dandy. Not that he’s the smartest guy around, far from it, but he does recognize how globalization hurts America."
"I predict Carney and his ilk will propose a cloud-based world currency soon, ‘guaranteed’ by -probably- the IMF’s Special Drawing Rights (SDR), but that is totally unfit for the role they have in mind."
https://www.theautomaticearth.com/20...n-just-peaked/
Varney - Trump 'Dominated' G7 Like No
Other President In Many Years
The Donald did not go there to play nice. He planned to do the G7 what he did to the Dems.

Roberts - US Corporations The Problem Not China
There's no law against outsourcing.
Apple and Samsung sued over 'cancer risk'from cell phone radiation
Once again, the Trump effect where lawsuits are not blocked as much as before.
"China signaled on Monday it was now seeking a “calm” end to its ongoing trade war with the U.S., as Asian markets crumbled and China’s currency plummeted to an 11-year low following the latest tariffs on $550 billion in Chinese goods announced last Friday by the Trump administration."

Johnson Refuses To Pay Brexit Divorce Bill If No Deal With EU
Brussels says Britain must pay EU bill in full in case of no-deal Brexit
What would Trump do?
Trump is really waking up jewish groups in America,,, along with Christian zionists.
https://www.theatlantic.com/politics...israel/596731/

Gold prices have jumped 25% this year in India. If you want to get a bank loan, you have to turn over your gold. Nothing else will do.

[Danny B]

Socialism as a response / cure for fascism

Every dollar of additional taxes must be taken from the productive economy. The generally accepted figure is; every additional dollar of taxes reduces the productive economy by 3 dollars.
Armstrong; "Acting SPD leader Thorsten Schäfer-Gümbel has drafted a concept for a wealth tax. He is proposing that this will bring the federal government €10 billion annually. He has argued that the rich have disproportionately benefited from the economic situation in recent years while the average person has struggled. He claims many even benefited from the financial market crisis of 2008/2009. Therefore, they should be punished with higher taxes more than 10 years later for the rest of their lives. Interestingly, very few people benefited from the 2008/2009 crisis unless they were a short player and those you can count on one hand. The banks are still insolvent in case he hasn’t noticed."
He probably hasn't

"Schäfer-Gümbel claims the money will be used for necessary investments in infrastructure, housing for the refugees, and of course climate change. The excuses are endless. But the truth is that the state and local governments are broke with over 50% in dire need of capital. They cannot create money and the German people are already severely taxed to the point where they rank only #3 from the bottom in net worth within Europe."
So, in spite of all their hard work and productivity, Germans are near the bottom in wealth.
"The hunt for taxes has always ended in revolution. This is not a trend governments should be following. The system is just unsustainable as is. We need someone for once to look at the viability going forward. The solution is not to raise taxes to meet next month’s rent time and time again."
https://www.armstrongeconomics.com/w...ed-wealth-tax/
OBVIOUSLY we all need to pay much more for climate change and refugees.

Armstrong's entry into investing. https://www.armstrongeconomics.com/a...ow-it-evolves/

"My question to you is, “Do you agree that absolutely anything paid for using collected/extorted tax dollars is socialism?”"
"ANSWER: No. Building roads, schools, and infrastructure is not socialism. You cross that line when you engage in class warfare. This often starts with promises to treat people differently under the law based solely upon their status or income, and “redistribute” their wealth as if it were a charity. This violates the Equal Protection of the law and Obamacare was a good example. The Supreme Court upheld it as a TAX rather than as advertised. It was to punish the youth for not buying insurance they did not need nor could afford to lower the cost for others."

"Social Security is another example. They rob people of their income under the pretense that they will provide for you in your old age, then lower the benefits and keep raising the age qualification. They then seize your income and buy only government bonds, denying the average person the right to invest. They blame the “rich” for everything, but the “rich” get rich NOT by wages but by investment. So they deny the lower classes the right to provide for their own future and deny them the right to invest."
ALL the money went to wars
Keep in mind that most of the people who got rich did so with legislative capture and crony capitalism.
"Socialism is when they tax people under the pretense of helping in a way that goes beyond the common needs of society. Once you move beyond the infrastructure that is a common function to allow for commerce, you then begin to approach the Marxist theory which has been proven time and time again to fail. Self-interest is critical and government will NEVER act in the self-interest of others, only itself."
"There can be no liberty when the courts are controlled by the government. Socialism ends up being the excuse used to exert power and nothing more."
https://www.armstrongeconomics.com/a...xerting-power/

You see that the key to all of this is morality. Power corrupts. The banks can count on buying corrupt legislators. The productive people get robbed. There is no point in robbing non-productive people. As the common man gets progressively more impoverished by the wealthy who can afford to buy politicians, Socialism becomes an ever-more attractive alternative. Crony-capitalism is a major component of fascism,,, the marriage of BIG GOV and BIG business. The more that organized crime controls the State, the more immorality is injected into the system.
All of this argues for having a computer run the system. It has no fear of poverty, nor, failing to be re-elected.

Laying the ground work for the introduction of debt-free money.
"People tend to forget that central banks, compared to the economy, are a fairly new invention. They assumed their current role as setters of interest rates only in the 1920s, and became the guardians of inflation in the 1980s. In the 2010s, they became the unwitting destroyers of the pricing mechanism in the capital markets. Their evolutionary path seems clear, and it is very detrimental to the overall economy.

In the case of a recession, their only remaining (effective) stimulus option is some form debt monetization, á la “Modern Monetary Theory”. If enacted, this will signal the end of the monetary system as we know it, but also ensure the end of central bank hegemony because of the inflationary crisis which will ensue.

That’s why we should not be surprised if central banks are not around after the coming crisis has passed. Their pernicious asset buying-programs and negative rates have left them vulnerable politically to any larger shock, such as a crash in the asset markets or a global recession. Venturing into debt monetization would seal their fate.

In either case, a political reckoning for years of reckless central bank policy is fast approaching, and they may not survive what is about to hit."
https://gnseconomics.com/en_US/2019/...banks-survive/

8/27 The $17t negative interest rate debt trap – Payments
THAT is going to leave a mark when it blows.
8/27 Blame the Fed for the coming pension fund crisis – Seeking Alpha
S&P 500's Biggest Pension Plans Face $382 Billion Funding Gap
You can't blame that on the FED. It is the fault of the corporate mentality.
Public Pension Crisis: Who Will Cover the $4 Trillion Shortfall?
The Coming Pension Crisis Is So Big That It's A Problem For Everybody
Starving pensioners will be the ones that demand debt-free money and MMT.

[Danny B]

Trump is fighting the FED, the FED is trying to get rid of him

Preparing For Financial Apocalypse - Insiders Are Selling '$600 Million Of Stock Per Day In August'
After Carney Admits That Low Rates Lead To War SF Fed Suddenly Changes Its Mind On NIRP
'Things Will Never Be The Same Again' Here Are 20 Questions As Central Banks Admit Defeat
BoA Says Buy Gold As Central Banks Lose Control

Ex NY Fed President Urges Fed's Powell To Prevent Trump Re-Election - Political Sabotage By Private Bank
Bloomberg Op-Ed - Ex Fed President Says Bank Should Work To Prevent A Second Term For Trump Via Recession - This Is Against Its Franchise Legal Mandate
This is a very big deal. If the FED works against Trump, he can then blame them for the upcoming collapse.
https://www.zerohedge.com/news/2019-...mp-re-election
Somehow, this doesn't all seem accidental.

"German people are already severely taxed to the point where they rank only #3 from the bottom in net worth within Europe."
Germans had to suffer decades of wage depression. They just fell further and further behind the rest of Europe.
"Acting SPD leader Thorsten Schäfer-Gümbel has drafted a concept for a wealth tax"
He wants to tax the rich. Germany has a 1 trillion Euro current account surplus.

Top 10 Facts About Poverty In Germany | The Borgen Project
https://borgenproject.org › top-10-facts-about-poverty-in-germany
Dec 3, 2018 - Possibly the most important fact about poverty in Germany is that county's poverty rate is breaking new negative records. "
OK, so Germany has crushing poverty. Schäfer-Gümbel wants to tax the snot out of the rich. WHO is holding this 1 trillion euros? Schäfer-Gümbel wants to tax the rich. I suspect that it is the corporations who have all the money, not rich individuals.
German Wage Repression | Dollars & Sense

The Trump effect.
Ruling - Johnson & Johnson must pay $572 Million for its part in US opioid epidemic
Creator Of Global-Warming's Infamous 'Hockey Stick' Chart Loses 'Climate-Science' Lawsuit
Hollywood's Man in Washington, Arrested for Alleged 'Rape and Blackmail'
More and more lawsuits are going through against formerly untouchable corporations like Monsanto.

8/28 U.S. yield inversion deepens, stokes recession fears – Reuters
8/28 Echoes of 1930s in trade-cum-currency war – Hindustan Times
8/28 Argentine bonds could be worth only 30 cents on the dollar after a default – Zero Hedge
8/28 Sub-prime auto credit deteriorates in July, says report – Zero Hedge
8/28 Wall Street slips as financials drag, trade outlook clouds – Reuters
8/28 Trump’s reelection a “threat to the U.S. and global economy” – Mish

8/27 Saxo warns equities are “treading on thin ice” – Zero Hedge
8/27 Potemkin pension accounting – Fox & Hounds
8/27 Ferguson: “The whole world is playing a massive, multiplayer game of chicken” – ZH

8/27 Yuan rebounds after PBOC sets much stronger-than-expected fixing – Reuters
8/26 China’s yuan slumps to 11-year low, stocks fall as U.S. trade war escalates – Reuters
They can set the "fix" wherever they want. It is the FX markets that will have the final say. China can ONLY support the Yuan by selling dollars-for-Yuan.
8/28 Dems after your money with taxes on wealth, unrealized gains – Mish
They are so NEEDY.

[Danny B]

Ending the FED by sabotage and subterfuge

Running late and, there is a lot to read. FED head Dudley came out and said that the FED should work to get rid of Trump. Has he never read the Sedition Act? I'm starting to suspect that Trump, Powell and Dudley, et al are conspiring to destroy the FED. It has pained itself into a corner.
8/28 Bill Dudley opens a “staggering” can of worms – Zero Hedge
oftwominds-Charles Hugh Smith: The Fantasy of Central Bank "Growth" Is Finally Imploding
Armstrong has 2 good, short articles about how Trump is taking all the wrong actions.
https://www.armstrongeconomics.com/w...n-a-real-mess/
"We must separate the USA from the rest of the world"
"But the Fed cannot stand against the entire world. The USA has the ONLY viable bond market. Lowering rates in the USA will also destroy the US bond market"
That may just be what "they" are trying to do.

"President Trump just does not understand the dollar. This old school idea that lowering the currency will increase domestic jobs and exports sounds logical, but the value of any currency is determined by the level of international confidence. It is absurd to think you can lower interest rates and the dollar will decline to support more exports. Nobody considered that you then wipe out pensions and force the elderly to work because they cannot live off the interest from the savings."
Trump has been consistently under-estimated. He has already implemented three recommendations from Armstrong. Armstrong said that all of the U.S. intelligence agencies are clients of his. Years ago, all 16 agencies got together with Jim Rickards to "war game" the progress of the economy. They brought in Rickards because he is an expert in the bond market. Their conclusion; America was going to have a giant crash.
Remember that a crash of sovereign debt WILL affect the paychecks of the spooks.

"I really get tired being called into meetings over the same childish one-dimensional theories that it seems only an idiot would believe in. Trump has voiced his dismay over the strong dollar claiming U.S. manufacturers are at a disadvantage."
Trump is not worried about U.S. manufacturing. He wants to bring revolution to China.

"Those in power just cannot bring themselves to address the issue because of class warfare is the main argument the Democrats use to inspire people to vote for them."
"The only Democrat to ever listen to me was Governor Jim Florio of New Jersey who I debated at Princeton University. I pointed out that the poor and middle class have to pay income taxes and wait for a refund at the end of the year, so you are borrowing from the poor and middle class and cheat them on interest."
"Many analysts believe the Federal Reserve will yield to the demands for a further rate cut at the September meeting. This is due to the world economy imploding outside the USA not simply because of Trump-bashing the Fed. We live in a world where we are in the midst of a Dollar Contagion that is impacting the entire world because SOCIALISM is collapsing outside the United States first."
https://www.armstrongeconomics.com/m...ntagion-trump/
Not ONE effing word about the collapse brought on by crony-capitalism.

8/29 Bond yields still heading lower as market fears ‘disaster scenario’ – CNBC
8/29 Social Security ponzi scheme crumbling: massive cuts or tax hikes coming – SHTF Plan
8/29 Larry Summers accuses Dudley of “trump derangement syndrome” – Mish
8/28 Key yield curve inverts further as 30-year hits record low – CNBC

The former house-flippers have bought bonds at, say 2%. They plan to flip them to investors when bond yields go to, say, one %.
There are $17 trillion in negative yield bonds. We are advised to NOT buy gold because it pays no interest.
/29 The Fed’s capitulation: what it means for gold investors – Claudio Grass
/29 Global gold industry hit by “forgery crisis” as fake kilobars flood the physical market – ZH
Probably by the CBs.

"
8/29 Emerging market fx plunges to record low as pesos plummet – Zero Hedge
NO, NO, NO, WAIT. What about dollar-debt service?
8/29 Treasury’s Mnuchin says U.S. plans no intervention on dollar – GATA
No, of course. They'll just pump a few $trillion into the BACK door of the stock market.
8/28 A world dying of money – beware of political and economic tantrums! – Global Gold
8/28 Pound plunges as Johnson restricts Parliament’s time before Brexit – Reuters
8/28 Brexit: UK leader Boris Johnson moves to suspend Parliament – CNBC
8/28 Comey confidant: expect Andrew Mccabe to be indicted any day – Gateway Pundit
8/28 Italian gov’t idea: let’s try another oil-water combo to see if it works better – Mish
Ah, the Italians,,,, gotta love them.
The Trump effect.
8/28 Purdue Pharma offers $10-12 billion to settle opioid claims – CNBC

Trump claims he wants a weak dollar but, uses a strong dollar to lash the rest of the world.