Guest Post by Martin Armstrong
The world is in a complete midlife crisis or some may say an end of life crisis. I am overseas as the world is simply going nuts. At times, I feel more like a shrink having to reassure people that it will all be OK. Both Europe and Asia are having a very bad string of days.
Asia is concerned that China will intervene in Hong Kong. Protesters in Hong Kong seem undeterred by China’s thinly veiled threat of sending in the armed forces. But Beijing would pay a steep price if it were to send in troops politically. Trump has stated that he regards it as an internal matter for China, while even Mitch McConnell said sanctions would be appropriate. Footage has surfaced on the Chinese internet showing columns of armored vehicles heading south and converging on the city of Shenzhen. The videos seem to suggest that the Chinese People’s Armed Police Force, a heavily armed paramilitary unit, is gathering on the Hong Kong border.
There is a great concern in Asia that if China sent in troops to Hong Kong, this will set off a crisis in confidence in Asia as a whole and may lead to the decline in the yuan and an even a break in the Hong Kong peg.
Meanwhile, back in the old world, the EU seems more intent on preserving their power than any rational review of economics. They seem to be doing whatever they can to bury the European economy under this crazy idea of federalizing Europe in a half-ass way that still leaves the individual states in an impossible position to ever reach a unified agreement about anything.
Moreover, the former Chancellor Philip Hammond has accused the PM of trying to wreck the chance of a new Brexit deal, by making demands the EU could never accept. He seems to be more on Brussel’s side than his own country. Mr. Hammond said a no-deal Brexit would be “a betrayal” of the 2016 referendum result and that he vowed that Parliament would “make its voice heard,” adding that a no-deal “must not happen.” There is no question that Germany will be the biggest loser and then there is Ireland who does not want an EU version of the Berlin Wall. More than 50% of trade for Britain lies outside of the EU, but a no-deal is far better for it will be able to negotiate trade with the rest of the world not subject to French supervision.
Additionally, with the chaos in Asia and in Europe, the US is still the safe-haven. This could push the dollar into record highs by creating a panic of vertigo that may force the world to sit back down and renegotiate how the world monetary system will survive. Alternatively, we all just all shoot it out and build walls to retain domestic absolute control.
The problem with the collapse of socialism is that the promises made to retain power cannot be supported. The Pension Crisis will explode and at the currency projection, by 2032, we will be looking at a $400 trillion unfunded catastrophic liability. There is no way we could even make it that far. We will be looking at this during the WEC in October (tickets are still available).
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Trying to warning Americans about getting into big debt to keep up with the Jones, about pensions or savings being locked up in Wall Street funds, about the Democrats being Communist, about the Global Warming BS while the real GSM has started cooling Earth, about moral depravity and medical pot, is like crowing about these dangers on a roof top while pissing into the wind.
Robert, that is basically incoherent. You might want to try it again if you are sincere about making some relevant point.
I appreciate Martin but he is pissing in the wind. 80% of Urbanites I know vote Democrat and expect the government to take care of them. Trying to warn them about any Black Swan causes them to “bark” at me like a pack of dogs. I’m tired of it and when TSHTF, I’ll just watch them suffer and cry for help that won’t come, like the big babies they are.
“The problem with the collapse of socialism is that the promises made to retain power cannot be supported.”
Since some twenty years ago, the problem became the only solution for heartland. Collapse is the solution, at least a critical prerequisite. There is a balloon payment to be made one way or the other, and heartland will be involved one way or another. The political process is nothing less than genocidal war. We see the preliminaries and cringe? I hope the heartland reply is no dud of only preliminaries. The usual Gospel bravodo of cuckservatives is fantasy. I don’t see the unity where it could do any good for heartland. Oh, well. Cleanse us, Mother Nature. We’vz gotz to git dim penshioners onz solid financiz ground. Muh tree of libertay could use some ertilizer fay, comprendey?
Butts da gospel! Da gospel! United we stand, a hundred feet beyond the cliff’s edge. Phkn genius. Such devout unity in death cult sacrifice.
This was taped on Monday before the recent one day 800 point stock market drop.
Prelude to THE BIG ONE | Gregory Mannarino
The US president says all is well and we’ve got the strongest economy ever… ..Why then is Trump calling for an immediate and drastic stimulus rate cut? ..Why then is the Fed is planning to put in place an unprecedented rule to shore up the biggest banks, which they’ve been saving until economic risks are “meaningfully above normal?” ..And why is the US Treasury bond yield curve inverting, as it did before each major recession and depression in history? Gregory Mannarino, the “Robin Hood of Wall Street,” comes back to Reluctant Preppers to answer YOUR viewer questions on: gold & silver, the tell-tale warning signs of a coming meltdown, the infamous yield curve inversion – and what ALWAYS happens after it “snaps back,” ways to protect your family, and what to watch so you can be aware and prepared! Please help us get the word out by sharing this video with as many people as you can! Blessings, -DK
I’m not so sure about inverted yield curve. From a US investor, maybe, if you consider Pension fund requirements by law to invest in AAA Government Bonds.
But from a foreign buyer, you always have to factor Currency appreciation.
I’ll just leave this here…
“Fed is planning to put in place an unprecedented rule to shore up the biggest banks”
For those that do not understand. Let me make it perfectly clear. They will nationalize your bank accounts just like Argentina did 2x. It is called a bank bail in. Ask your bank for the documents regarding your accounts and it spells it out your assets are the banks. You loaned it to them and if needed they can limit the return of the money to you over time. Similar in Greece only $50 a day…..get some cash out of the banks and get more to buy junk silver asap. You have been warned.