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Jim Quinn: The Only Thing ‘Systematic’ Is The Destruction Of America, Part 2

Jim Quinn: The Only Thing ‘Systematic’ Is The Destruction Of America, Part 2

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Jim Quinn: The Only Thing 'Systematic' Is The Destruction Of America, Part 2 Tyler Durden Thu, 10/01/2020 - 16:40

Authored by Jim Quinn via The Burning Platform blog,

In Part 1 of this article I detailed the purposeful systematic destruction of global economies, with a bad flu as the catalyst, as part of a plan by the Davos elite to reconstruct the world in a manner most beneficial to these evil men and detrimental to you and me. The fight remains to be fought. Orwell’s worst fears are coming to fruition.

The masking of the masses has been, and continues to be, about despotic politicians and arrogant bureaucrats demanding obedience as a mechanism to judge their ability to shame the masses into submission. It has nothing to do with health or protecting others. The health “experts” like Fauci, the Surgeon General and CDC director actually told the truth back in March when they told everyone masks didn’t protect you from viruses. When the powers that be decided this flu needed to be hyped and blown out of all proportion, mask wearing was used as the symbol of fear necessary to panic the public into submission.

Media campaigns, celebrity virtue signaling, corporate coordination, and fake documentation were immediately implemented to corral the sheep and force them to conform. Dehumanizing the population, using a false narrative to shame non-maskers as serial killers, turning neighbors into snitches, and using police thugs to enforce these unconstitutional dictates, has created an atmosphere of anxiety, suspicion and fear as the perfect method of domination. The non-critical thinking sheep are driven by emotion and feelings.

If they were capable of understanding facts and data, they would conclude this entire episode is much ado about nothing. Medical experts have proven that masks are useless in protecting anyone from viruses and Sweden has proved herd immunity and our own immune systems are the answer. But facts don’t matter to the gulag commandants.

“Disposable medical masks (also known as surgical masks) are loose-fitting devices that were designed to be worn by medical personnel to protect accidental contamination of patient wounds, and to protect the wearer against splashes or sprays of bodily fluids. There is limited evidence for their effectiveness in preventing influenza virus transmission either when worn by the infected person for source control or when worn by uninfected persons to reduce exposure. Our systematic review found no significant effect of face masks on transmission of laboratory-confirmed influenza.” 

– CDC – May 2020

“We know that wearing a mask outside health care facilities offers little, if any, protection from infection. Public health authorities define a significant exposure to Covid-19 as face-to-face contact within 6 feet with a patient with symptomatic Covid-19 that is sustained for at least a few minutes (and some say more than 10 minutes or even 30 minutes). The chance of catching Covid-19 from a passing interaction in a public space is therefore minimal. In many cases, the desire for widespread masking is a reflexive reaction to anxiety over the pandemic.”

 The New England Journal of Medicine – May 2020

The breathless case count and daily death totals proclaimed by the fake news media are hyped to scare a dumbed-down populace, incapable of understanding percentages and unable to assess their true level of risk from this flu. They say there have been 7.1 million cases in the US (most didn’t know they had it), so your chances of not getting it are 98%. This week our beloved “experts” at the CDC provided the real data about your chances of dying from Covid if you get it.

How could rational people create a global depression and destroy the lives of millions in order to combat an extremely non-lethal flu? The men responsible for this man-made disaster should be held accountable and we as a people need to look in the mirror and take accountability for our own lives, dismissing the illegal and immoral dictates of tyrannical despots.

Of course, the systematic racism narrative, cowing the population through masking pandemic fear, and ongoing coup attempt against Trump, have been used to distract the people from the primary objective of the Davos elite. The systematic destruction of small businesses during this scamdemic has clearly been a principal objective and has been accomplished with aplomb.

Small businesses had employed 60 million Americans prior to this over-hyped flu. At the end of June 1.4 million small businesses had closed or suspended operations. With the Paycheck Protection funds now depleted, it is estimated 4 million small businesses will close permanently by the end of the year, representing 13% of the 30.7 small businesses, as counted by the Small Business Administration. These businesses were destroyed by government mandate, at the behest of the corporate Davos elite.

Evidently Covid could only be contracted at your local small retailer, deli, pub, or restaurant. But, mega-retailers like Wal-Mart, Target and Home Depot were safe from the dreaded killer virus. As your neighbor’s small business went bankrupt, these mega-retailers have raked in record profits and seen their stocks reach all-time highs.

Small businesses can’t get Wall Street financing, dial up Mnuchin or Powell, spend millions on national ad campaigns, or use their lobbyists in D.C. to carve out a huge piece of the pandemic relief pie. The employees laid off by small businesses will be forced to beg for jobs at the mega-corps. This coordinated destruction of small businesses is a major step in our digression into a corporate fascist dystopian hellscape. This blatant war on the little guy has been lost with barely a whimper from the fearful masses.

This transfer of wealth from small business owners to the likes of Bezos and other mega-corps is small potatoes compared to the pillaging of the little guy by the Federal Reserve over the last century, and particularly over the last six months. The $3 trillion of debt created out of thin air since March and the ongoing $1 trillion per year have not benefited you or anyone you know.

These trillions have been funneled directly to the vampire squid – Goldman Sachs and the rest of the Wall Street criminal cabal, along with billionaire hedge fund managers, and various connected Davos elite. When the stock market tanked by 30% in March, the dozens of calls between Powell, Mnuchin, and Wall Street CEOs were not about saving Main Street, but concerned how to recoup their losses and implement a plan to rig the stock market back to all-time highs. Powell’s ‘No Banker Left Behind’ plan.

It only took $3 trillion infused into the veins of Wall Street debt addicts to achieve their sole purpose of making billionaires richer. They don’t give a F#@k about you, small business owners, blue collar workers, or senior citizens. How is it that reducing interest rates to 0% for Wall Street banks, while they continue to charge 18% on credit card balances of pandemic induced unemployed Americans, and eliminating the little income grandmothers were earning in their money market funds, is beneficial to the people of this country?

The Fed and the Davos elite depend upon the indoctrinated ignorance conveyed by government schooling to implement their relentless plundering of the people’s wealth. The unceasing yammering by Fed governors about the lack of inflation and the falsification of true inflation by the government apparatchiks at the BLS is jammed down our throats by their co-conspirators in the corporate media is accepted as fact by same people unquestioningly believing a mask keeps them safe from a virus.

Anyone living in the real world, not the fantasy model world of the Fed and Davos elite, knows they are being hammered by rising prices on everything they need to survive. The massive inflation in stock prices since April has benefited the top .1%, while the unemployed and senior citizens have seen inflation in food, fuel, housing, medical care and used cars. These are the rates of inflation for a few things you might need since May, according to CNN:

  • Corn – 12%

  • Soybeans – 12%

  • Beef – 16%

  • Coffee – 27%

  • Sugar – 22%

  • Cocoa – 12%

  • Cotton – 12%

  • Unleaded Gas – 68%

  • Natural gas – 36%

Gasoline was priced low when we weren’t allowed to drive. As soon as people were allowed to go back to work, prices soared. With the poor struggling to get by, used car prices have soared by double digits since May. Home prices have continued their relentless increase, up 64% since 2012, pricing young families out of the market. The Big Lie is the BLS reported inflation in medical care of less than 1%. Everyone knows that’s a lie. Medical premiums, co-pays, and deductibles have been rising at double digits for the last decade. We are being systematically destroyed by evil sociopaths in suits, pretending to be looking out for our best interests.

I wrote an article titled P For Pandemic in late March when the death count was still under 3,000. I was suspicious about the lockdown then and my worst fears about the true motivation of those in power have been confirmed as time has passed. This passage from the dystopian film V for Vendetta captures the essence of what has happened and what is happening today.

“And the truth is, there is something terribly wrong with this country, isn’t there? Cruelty and injustice…intolerance and oppression. And where once you had the freedom to object, to think and speak as you saw fit, you now have censors and systems of surveillance, coercing your conformity and soliciting your submission. How did this happen? Who’s to blame? Well certainly there are those who are more responsible than others, and they will be held accountable. But again, truth be told…if you’re looking for the guilty, you need only look into a mirror.

I know why you did it. I know you were afraid. Who wouldn’t be? War. Terror. Disease. There were a myriad of problems which conspired to corrupt your reason and rob you of your common sense. Fear got the best of you and in your panic, you turned to the now High Chancellor Adam Sutler. He promised you order. He promised you peace. And all he demanded in return was your silent, obedient consent.”

– V for Vendetta speech to London

There is something terribly wrong with this country. The oppression is not being inflicted upon people of color, the narrative being sold by the elite, but on all hard working Americans trying to live their lives, with the freedom and liberty to make their own choices and live with the consequences. The freedom to object and question authority, a natural right documented in the Constitution, is rapidly being crushed, as Deep State surveillance entities (Google, Facebook, Twitter) censor and memory hole any view not conforming to the approved Deep State narrative.

It has never been more evident than during this pandemic, where doctors, real journalists, truthful thinkers and even Ron Paul have seen their videos, tweets and articles suppressed and removed from platforms supposedly created to allow for the free flow of ideas and opinions. Big Brother is watching and will punish you for questioning the approved Deep State narrative.

By allowing only one approved narrative to reach the masses through the corporate media and social media outlets, the ruling class can more easily coerce conformity and submission to their demands. The non-conformists will be brought into line through the use of the truncheon and threats to destroy your ability to make a living.

The question is always – who deserves the blame? Who is guilty for systematically destroying a once great country of self-reliant, hard-working, family-oriented citizens who adhered to communal standards of decency and respect for one another? As throughout history, the battle between good and evil is waged within the hearts of men and when evil men gain control because good men are fearful or unable to comprehend their evil intentions, civil society breaks down and a dystopian storm darkens the landscape. We are entering the climactic phase of this Fourth Turning and there is no escape from its impact on our lives.

As with previous Fourth Turnings, there will be bloodshed and war before a final outcome is determined, with clear winners and losers. Make no mistake, the Deep State oligarchs have an overwhelming advantage in wealth, power, and weapons as we enter this fight. Their intentions are truly evil – to enslave the masses in debt servitude and fear, enforcing their warped morality through technological surveillance mechanisms, while they reap the benefits of ungodly wealth and indulging their sociopathic desire for command and control over the lives of others. The BLM and ANTIFA terrorists aren’t the real enemy. They are just useful idiots and paid provocateurs creating havoc in our cities to further the agenda of Soros and his Davos gang.

Does the upcoming election even matter when you understand who is really in control? It does matter in that it will likely be the spark which ignites the powder keg of discontent and anger built up over the first decade of this Fourth Turning. Trump is the Grey Champion of this Crisis, whether you like it or not. Remember that at least half the population hated Lincoln and FDR as they assumed the reins of Grey Champion in the previous two Fourth Turnings.

I don’t think Trump is a savior or a Deep State lackey. I don’t see him in the role of High Chancellor Sutler ordering your obedient consent to keep you safe. He is the lightening rod initiating conflict between the shadowy evil Deep State operatives and those representing freedom, truth, and the original tenets of the U.S. Constitution. He’s a conduit for conflict. Watching the Deep State try to undermine his presidency for four years has convinced me he’s not their puppet, despite his baffling decisions in surrounding himself with Deep State delegates that have stabbed him in the back.

The perfect match for Sutler is Kamala Harris, a woman with no sense of morality who exhibits a sociopathic hatred for her chosen enemies and will do anything or say anything to achieve power. The game plan is to steal the election through mail-in ballot fraud and replace Biden with Harris in short order. She and her backers will proclaim the need for drastic steps to restore order and peace, while culling the herd of dissenters and those unwilling to bow to her excellency.

Now is the time to be vigilant. Make sure you can depend on those closest to you and recognize your enemies. Preparation time for the coming whirlwind of violence is growing short. The epic battle between good and evil has commenced. What happens over the next few years will determine the future course of history on this planet. Triumph or tragedy hangs in the balance.

Courage, strength of character, fortitude in the face of adversity and a love for liberty and freedom can overcome the dark forces engulfing our nation. Good luck and Godspeed.

“The climax shakes a society to its roots, transforms its institutions, redirects its purposes, and marks its people (and its generations) for life. The climax can end in triumph, or tragedy, or some combination of both. Whatever the event and whatever the outcome, a society passes through a great gate of history, fundamentally altering the course of civilization.”

Strauss & Howe – Fourth Turning

*  *  *
The corrupt establishment will do anything to suppress sites like the Burning Platform from revealing the truth. The corporate media does this by demonetizing sites like mine by blackballing the site from advertising revenue. If you get value from this site, please keep it running with a donation. 

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Pfizer Responds After Director Says Company Is Developing Ways To Mutate COVID-19

Pfizer Responds After Director Says Company Is Developing Ways To Mutate COVID-19

Authored by Zachary Stieber via The Epoch Times (emphasis…

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Pfizer Responds After Director Says Company Is Developing Ways To Mutate COVID-19

Authored by Zachary Stieber via The Epoch Times (emphasis ours),

Pfizer late Jan. 28 responded to comments from a director at the company about exploring ways to mutate COVID-19 as a method to “preemptively develop new vaccines.”

“In the ongoing development of the Pfizer-BioNTech COVID-19 vaccine, Pfizer has not conducted gain of function or directed evolution research,” Pfizer said in a lengthy written statement after days of ignoring queries from The Epoch Times and other outlets.

A sign for Pfizer is displayed in New York in a file photograph. (Timothy A. Clary/AFP via Getty Images)

Pfizer did say that it has conducted research “where the original SARS-CoV-2 virus has been used to express the spike protein from new variants of concern.”

“This work is undertaken once a new variant of concern has been identified by public health authorities. This research provides a way for us to rapidly assess the ability of an existing vaccine to induce antibodies that neutralize a newly identified variant of concern. We then make this data available through peer reviewed scientific journals and use it as one of the steps to determine whether a vaccine update is required,” the company added.

Pfizer did say it has conducted experiments in a level 3 laboratory.

Pfizer said, in its work developing a treatment for COVID-19, it has “engineered” the COVID-19 virus “to enable the assessment of antiviral activity in cells.”

“In addition, in vitro resistance selection experiments are undertaken in cells incubated with SARS-CoV-2 and nirmatrelvir in our secure Biosafety level 3 (BSL3) laboratory to assess whether the main protease can mutate to yield resistant strains of the virus,” Pfizer said. “It is important to note that these studies are required by U.S. and global regulators for all antiviral products and are carried out by many companies and academic institutions in the U.S. and around the world.”

Pfizer produces a COVID-19 treatment called Paxlovid, or nirmatrelvir that is authorized in the United States and some other countries.

In its statement, Pfizer did not dispute that Dr. Jordon Walker, who told a Project Veritas journalist that Pfizer is exploring how to “mutate” the COVID-19 virus, was or is a Pfizer employee.

Professional profiles for Walker, which have since been taken down, listed him as a director of messenger RNA research at the company. Pfizer’s COVID-19 vaccine utilizes messenger RNA. The profiles also listed a Pfizer email address, and an email sent to that address did not bounce back. A receptionist at Pfizer on Thursday also told The Epoch Times that Walker had an internal company profile, but a different receptionist on Friday said there was no listing for the doctor, indicating he might have been terminated after the comments were made public.

Malone

Dr. Robert Malone, who helped develop the messenger RNA technology, said that the experiments Pfizer described met the definition of “gain of function.”

Pfizer is basically acknowledging that they are doing the same type of gain of function research that Boston University was caught doing, but they are denying that it is gain of function or directed evolution,” Malone wrote on Twitter.

Malone pointed to Pfizer’s comment about taking the original SARS-CoV-2 virus and using it “to express the spike protein from new variants of concern.”

Gain of function generally describes experiments that aim to increase functions of a virus such as transmissibility and virulence. Walker had said in his comments that the work he was describing was not gain of function, but “directed evolution.”

Researchers with Boston University revealed in 2022 that they had developed a strain of COVID-19 that killed 80 percent of mice infected with it.

The U.S. National Institutes of Health (NIH) is supposed to oversee risky research conducted in or funded by the United States but has faced criticism for only reviewing a handful of projects—none since 2019—under the oversight system.

The NIH funded gain of function experiments at the Wuhan laboratory situated near where the first COVID-19 cases were identified, and officials have promised to keep funding research in China.

Sen. Marco Rubio (R-Fla.) had written a letter to Pfizer CEO Albert Bourla referring to Walker’s remarks and questioning whether the company has or is planning to mutate the COVID-19 virus.

Walker’s comments “are alarming,” Rubio wrote in the Jan. 26 missive.

YouTube Takes Down Video

In a notice sent to Project Veritas, YouTube cited its medical misinformation policy, which bars “claims about COVID-19 vaccination that contradict expert consensus from local health authorities or the World Health Organization (WHO).”

It wasn’t clear which authorities specifically YouTube was relying upon to rebut the video.

YouTube, which is owned by Google, did not respond to a request for comment.

O’Keefe noted that the claims in the video were made by a Pfizer director.

Project Veritas was given a “strike,” which prevents the organization from taking actions like uploading new videos for one week. A second strike would block such actions for two weeks and a third strike in a 90-day period would result in a permanent removal of the group’s account, YouTube warned.

Read more here...

Tyler Durden Sat, 01/28/2023 - 14:30

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Von Greyerz: As West, Debt, & Stocks Implode; East, Gold, & Oil Explode

Von Greyerz: As West, Debt, & Stocks Implode; East, Gold, & Oil Explode

Authored by Egon von Greyerz via GoldSwitzerland.com,

“The…

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Von Greyerz: As West, Debt, & Stocks Implode; East, Gold, & Oil Explode

Authored by Egon von Greyerz via GoldSwitzerland.com,

“The risk of over-tightening by the European Central Bank is nothing less than catastrophic” says Prof Kenneth Rogoff .

At Davos he also said:

Italy is extremely vulnerable. But this could pop anywhere. Global debt has gone up massively since the pandemic: public debt, corporate debt, everything.”

Rogoff believes that it is a miracle that the world averted a financial crisis in 2022, but the odds of a major accident are shortening as the delayed effects of past tightening feed through.

As Rogoff said: 

“We were very fortunate that we didn’t have a global systemic event in 2022, and we can count our blessings for that, but rates are still going higher and the risk keeps rising.”

But lurking in the murkiness is also the global financial assets/liabilities which is almost $500 trillion including the shadow banking system at 46% of the total. The shadow banking sector includes  pension funds, hedge funds and other financial institutions which are largely unregulated.

Shadow banking is not subject to the normal mark-to-market rules. Thus no one knows what the real position or losses are. This means that central banks are in the dark when it comes to evaluation of the real risks of the system.

Clearly, I am not the only one harping on about the catastrophic global debt/liability situation.

And no one knows the extent of total global derivatives. But if they have grown in line with debt and also with the shadow banking system, they could easily be in excess of $3 quadrillion.

Cultures don’t die overnight, but the US has been in decline since at least the Vietnam war in the 1960s. Interestingly, the US has not had a real Budget surplus since the early 1930s with a handful of years of exception.

But when you, like the US, live on borrowed time and borrowed money, it becomes increasingly difficult to keep up appearances. In 1971, the pressures on the US economy and currency became too great.  Thus Nixon closed the Gold Window with the dollar having lost over 98% in real terms since then. This is of course a total catastrophe and a guarantee that the remaining 2% fall to ZERO will come in the near term future, whether it takes 5 or 10 years for the dollar to reach oblivion. Remember that the final 2% is 100% from today!

The US, EU and Japan have now reached the stage when no one wants their debt. So sovereign debt of these nations is no longer a question of “passing the parcel” but keeping the parcel. When every third party holder of these debts is a seller, who will buy?

These three countries will end up holding their own debt. Japan already holds over 50% of its debt. Before the Western Ponzi scheme comes to an end, these three nations will virtually hold 100% of their own debt. At that point, the bonds will be worthless and interest rates will have reached infinity. Not a pretty prospect!

US – PERFECT RECIPE FOR DISASTER

The final phase of all empires always includes excessive deficits and debts, inflation, a collapsing currency, decadence and war. And the US qualifies perfectly in all those categories.

Ernest Hemingway stated it superbly:

The first panacea of a mismanaged nation is inflation of the currency; the second is war.
Both bring temporary prosperity;
both bring a permanent ruin.
But both are the refuge of political
and economic opportunists. 

The US has failed in every war since the Vietnam war, including the Yugoslav Wars, Afghanistan, Iraq, Syria and Libya. The results have been massive casualties and destruction of the countries, often leading to economic misery, anarchy and terrorism.

The Ukrainian war is not between Ukraine and Russia but between the US and Russia as I discussed in a previous article (Link). The clear proof that there is no desire for peace from the US is that they are sending money and weapons to Ukraine in the $100s of billions and “encouraging” an increasingly suffering Europe to do the same. But they are not sending any peace negotiators to Russia in an attempt to end the war. This is very ominous.

The geopolitical situation is now on a knife edge with two major nuclear powers fighting about a relatively insignificant country. This is how major wars normally start.

Let us hope that the current conflict does not lead to a major nuclear war since that would be the end of the world. Thus not worth to speculate about the outcome of this high risk scenario.

But the economic war and the collapse of the US dominated financial system is not just  inevitable but also catastrophic for the Western economies.

A COMMODITY DOMINATED WORLD

As the hegemony of the US is coming to an end, the dominance of the decadent West is moving quickly to the East and South. Commodity based countries like the enlarged BRICS will dominate for the next few decades and probably longer. Oil and gas will form the base of this shift but also many other commodities including gold which is now starting a new era.

It is likely that 2023 will be the first year of many when we will see a strong rise in gold just like 2000 – 2011 which saw a 7.5X gain.

The end of the Western debt based cycle and the rise of the Eastern and Southern commodity cycle is well illustrated in the graph below

OIL, GOLD TO GO UP > 9X AGAINST STOCKS

The S&P Commodity Index relative to Stocks has recently made a 50 year low. Just to return to the mean, the index would need to go up 4X. But when long term cycles turn up from a historical low, they tend to trend higher and longer than anyone expects. So a move past the 1990 high of 9 is very likely. This would mean that commodities, and especially oil and gold, relative to stocks would move up more than 9X!

This  9X move  would obviously involve a combination of falling stocks and rising commodity prices.

The expected move of the index confirms the shift from the West, based on an unsound and debt infested system, to the East & South, based on commodities.

Much of this move is based on the fossil fuels of the countries involved – to the chagrin of the climate movement zealots.

In today’s woke world, there is a tendency to believe that we can change all the laws of nature and science. This is the case both in the economy and climate.  Bankers and governments are confident that they can create permanent prosperity by printing worthless pieces of paper believing that these represent real and lasting value and wealth.

Well surprise, surprise, these people will soon have the shock of a lifetime as all that printed money returns to its intrinsic value of ZERO.

A debt based economy eventually becomes a self-fulfilling prophecy.

The higher the debt, the more the debt needs to grow in a never ending vicious circle. In the end the debt cycle becomes a perpetual motion Ponzi scheme……. UNTIL IT ALL CRASHES!

The debt feeds on itself and the more that is issued, the more needs to be issued. As inflation rises, the escalating interest cost on the debt leads to more debt. Next is defaults, both private and foreign. Then the $2-3 quadrillion derivatives, a great part of which is in the shadow banking system, comes under pressure. This leads to massive further debt creation by the Fed and other central banks, desperately trying to save the system.

This will eventually lead to what von Mises called:  “…. a final and total catastrophe of the currency system involved.”

But remember that we are here talking about the Western financial system. The economic sun in the East will rise strongly and eventually be the guiding light for the world economy.

The debt based US and West will to quote Hemingway decline “first gradually and then suddenly.”  So due to the $2+ quadrillion size of the problem, the biggest part of the decline is unlikely to take more than 10 years and it could be a lot faster, especially at the end.

But the climate zealots

 will have to wait to 2050 to learn that through their actions they didn’t manage to limit the increase in temperature to 1.5 degrees. But with a lot of luck, climate cycles might be on their side and make the weather much colder.

Personally I believe that cycles determine the climate and not humans.

The climate cycle graph below covering 11,000 years shows that there has been numerous periods with warmer temperatures than currently. At the peak of the Roman Empire 2000 years ago, Rome had a tropical climate.

Fossil fuels produce 83% of the world’s energy today. According to forecasts this percentage is unlikely to come down significantly in the next 50 years.

Partly due to the increased cost of producing energy, fossil fuel production will fall by 26% by 2048. Increases in nuclear and renewables will not compensate for this decline.

If the world stops using fossil fuels, the world economy would totally collapse. Sadly the climate activist movement does not seem to worry about such disastrous consequences.

So it seems fairly clear that for a very long time, the world will be dependent on fossil fuels in order for the economy and population not to collapse.

For the above reasons, the commodity based countries will soon dominate the world and that for a very long time.

The constellations of commodity rich nations are forming rapidly.

Firstly we have the BRICS countries which currently consist of Brazil, Russia, India, China and South Africa. Many countries are in the process of joining BRICS including Saudi Arabia, Iran, Algeria, Argentina and Turkey.

It is the enlarged BRICS aim to bypass the dollar and create their own trading currency.

Many talk about the Petroyuan replacing the Petrodollar but what would everyone do with the Chinese currency since it isn’t freely convertible. Better then to have a currency linked to several commodity countries like Special Drawing Rights. This would create more stability and usability. The Credit Suisse analyst Pozsar calls this Bretton Woods III.

There is also the EAEU or Eurasia Economic Union with Russia leading plus China, India, Iran, Turkey and UAE involved.

The SCO – the Shanghai Cooperation Organisation headquartered in China is also an important force. The SCO is a political, economic, international security and defence organisation. It includes many Eurasian nations like China, Russia, Uzbekistan, Kazakhstan etc.

All the economies involved in this important development are commodity based. For example, commodities are 30% of Russian GDP. Their target is to expand gold mining to 3% of GDP and become the biggest gold producer in the world.

Russia has the world’s largest commodity reserves at $75 trillion and produces 11 million barrels of oil per day. Russian friendly provinces produce another 14M totalling 25M. China produces 5m barrels and the Middle East Oil going through the Strait of Hormuz is 22M barrels.  So in a conflict with the US, Russia, China and Iran  could decide to close the Strait of Hormuz which means they would have control over 50% of global oil supply. As Goldman Sachs has stated, oil would then be in the $1000s.

If we take Russia, Iran and Venezuela, they control 40% of the global oil supply.

The point I am making is that these various constellations of commodity countries will be the dominant economic power of the future as the US and Europe decline.

So for Russia, gold and oil are two strategic commodities which will play an important role not just for Russia but for all of these Eastern/Southern countries.

And no one should believe that the US and European sanctions are working. Russia and Iran are selling oil and gas to China at a discount. China then exports this, including refined products, to Europe at premium.

So the sanctions are a farce which totally kills the European economy.

Interestingly, the relationship between yellow gold and black gold has been stable for decades as this chart shows:

GOLD / OIL RATIO 1950 – 2023

GOLD – THE VITAL WEALTH PRESERVATION ASSET FOR 2023 AND BEYOND

Gold was the best performing asset class in 2022 but the investment world didn’t notice since it is hanging on to the declining bubble assets of stocks, bonds and property.

Let’s look at gold’s performance in various currencies in 2022:

The chart shows gold up 15% against Swedish Kroner on the right and for example up 11.6% in pounds, 6% in Euros and virtually unchanged in US$.

Bearing in mind that most asset markets, including bonds, have fallen by 20-30%, this is an outstanding performance by gold.

But no one must believe that gold is going up. All gold does it to reflect the total mismanagement of most economies. The chart above should be turned upside down to reflect the loss of purchasing power of all paper money.

As has been the case since 1971, this trend of falling currencies will continue but not at the same steady pace.

With the debt infested Western economies collapsing, their currencies will implode one after the other.

So please firstly acquire as much physical gold as you can afford and then some more.

And when you own your gold, don’t measure the value in collapsing currencies. Just measure your gold in ounces, kilos or grammes.

Also please don’t keep it in the country where you live, especially if that country has a tendency to grab assets. I don’t need to tell you which countries you can’t trust. The problem is, there are not many you can trust.

BEWARE – A GOLD CUSTODIAN DISAPPEARED WITH CLIENTS’ METALS

Also if you store your gold with a gold custodian, ensure that only you can release it by having the Warehouse Receipt in your name. A custodian gold company disappeared last year with the major customer assets in spite of the gold being stored with a major vault company. The weakness was that the gold company could release the gold without the client’s approval. This is not an acceptable way to store your wealth preservation asset. 

Finally remember that gold is not just your most important wealth preservation asset but can also be beautiful.

TUTANKHAMUN’S DEATH MASK 1327 BC

Tyler Durden Sat, 01/28/2023 - 11:30

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Government

Federal Food Stamps Program Hits Record Costs In 2022

Federal Food Stamps Program Hits Record Costs In 2022

In early January, The Wall Street Journal Editorial Board warned that one peril of a…

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Federal Food Stamps Program Hits Record Costs In 2022

In early January, The Wall Street Journal Editorial Board warned that one peril of a large administrative state is the mischief agencies can get up to when no one is watching.

Specifically, they highlight the overreach of the Agriculture Department, which expanded food-stamp benefits by evading the process for determining benefits and end-running Congressional review.

Exhibit A in the over-reach is the fact that the cost of the federal food stamps program known as the Supplemental Nutrition Assistance Program (SNAP) increased to a record $119.5 billion in 2022, according to data released by the U.S. Department of Agriculture...

Food Stamp costs have literally exploded from $60.3 billion in 2019, the last year before the pandemic, to the record-setting $119.5 billion in 2022.

In 2019, the average monthly per person benefit was $129.83 in 2019, according to the U.S. Department of Agriculture. That increased by 78 percent to $230.88 in 2022.

Even more intriguing is the fact that the number of participants had increased from 35.7 million in 2019 to 41.2 million in 2022...

All of which is a little odd - the number of people on food stamps remains at record highs while the post-COVID-lockdown employment picture has improved dramatically...

Source: Bloomberg

If any of this surprises you, it really shouldn't given that 'you, the people' voted for the welfare state. However, as WSJ chided: "abuse of process doesn’t get much clearer than that."

In its first review of USDA, the GAO skewered Agriculture’s process for having violated the Congressional Review Act, noting that the “2021 [Thrifty Food Plan] meets the definition of a rule under the [Congressional Review Act] and no CRA exception applies. Therefore, the 2021 TFP is subject to the requirement that it be submitted to Congress.” GAO’s second report says “officials made this update without key project management and quality assurance practices in place.”

Abuse of process doesn’t get much clearer than that. The GAO review won’t unwind the increase, which requires action by the USDA. But the GAO report should resonate with taxpayers who don’t like to see the politicization of a process meant to provide nutrition to those in need, not act as a vehicle for partisan agency staffers to impose their agenda without Congressional approval.

All of this undermines transparency and accountability for a program that provided food stamps to some 41 million people in 2021. The Biden Administration is using the cover of the pandemic to expand the entitlement state beyond what Congress authorized.

The question now is, will House Republicans draw attention to this lawlessness and use their power of the purse to stop it to the extent possible with a Democratic Senate.

And don't forget, the US economy is "strong as hell."

Tyler Durden Sat, 01/28/2023 - 09:55

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