Peter J. Underwood is a retired international accountant and qualified humanistic counsellor living in Bruton, UK, with his wife, Yvonne. He pursued a career as an entrepreneur and business consultant, having founded several successful businesses in the UK and South Africa
His latest Substack blog describes the African concept of Ubuntu - a system of localised community support using a gift economy model.
BOOM looks at Crypto, Binance, and Bitcoin markets this week as Trump appoints a “Crypto Czar”, David Sacks who is expected to have oversight on any proposed legislation from the Justice Department or the Attorney General. Sacks is a member of the so-called “PayPal Mafia”, a group of founders and early employees of PayPal who became founders of other successful technology companies
BOOM Finance and Economics seeks out the very best information from authoritative sources and strives for consistency in its quality and trustworthiness. Over 5 years, BOOM has developed a loyal readership which includes many of the world’s most senior economists, central bankers, their senior advisers, fund managers, and academics. If you want a real edge in understanding the complex world of finance and economics, subscribe to BOOM on Substack or as a Follower on LinkedIn.
My Letter from South Africa this week presents a deep analysis of South Africa’s relationships on the global chessboard. There are forces at work that seek to draw our country into the arms of a corrupt Anglosphere using the threat of clandestine financial sanctions which adversely affect South Africa’s trade and its economy in general.
IS SOUTH AFRICA MAKING ENEMIES WITH THE WRONG COUNTRIES? [Critique of edited extracts from Drikus Greyling • 6 December 2024]. South Africa might be alienating its current trading partners, including the United States and Europe, in preference for countries from which it does not benefit so much today, but in future this can and will change – “failing to plan is planning to fail” [Xerox Inc]
Business leaders, including economist Dawie Roodt, Sygnia CEO Magda Wierzycka, and former Eskom CEO Andre de Ruyter, said South Africa should carefully choose its partners {Ed: but at what future price?} Wierzycka said Donald Trump’s election as the next United States President poses a significant challenge for South Africa. “It is time to choose our allies carefully,” she said.
South Africa is a member of the BRICS+ alliance and the rapidly expanding Global South, which includes China and Russia. Iran is also closely linked to this group of countries, having attended a BRICS Summit and being part of the new BRICS+ grouping. Trump is not interested in South Africa even though it is the world’s number one producer of platinum accounting for 74.3% of the world’s crucial mineral.
Unless Trump wakes up to South Africa’s amazing prospects, it could be suspended from the benefits of the African Growth and Opportunity Act (AGOA). “Although largely insignificant, it tarnishes South Africa’s international standing, particularly when its bedfellow is grey-listed,” Wierzycka said. She advised South Africa’s government to follow India’s example and work much harder at staying neutral. “It is not what you say but what you do that matters,” she said.
Readers have a real treat this week as the “Fascist USA “comes under BOOM’s microscope. Marc Andreessen speaks with Joe Rogan [warning – disturbing in the extreme]. This leads BOOM to examine US government budgets & expenditure and evaluate Elon Musk’s plans for DOGE. More concerning is BOOM’s analysis of disabilities in America.
BOOM Finance and Economics seeks out the very best information from authoritative sources and strives for consistency in its quality and trustworthiness. Over 5 years, BOOM has developed a loyal readership which includes many of the world’s most senior economists, central bankers, their senior advisers, fund managers, and academics. If you want a real edge in understanding the complex world of finance and economics, subscribe to BOOM on Substack or as a Follower on LinkedIn.
BOOM EDITORIAL THIS WEEK
FASCISM IN THE USA IS ALREADY IN PLACE. Marc Andreessen speaks with Joe Rogan – [warning – disturbing in the extreme] – the US government under Biden was planning total control — they can and will de-bank you!
“Woe unto them that call evil good, and good evil; that put darkness for light, and light for darkness; that put bitter for sweet, and sweet for bitter!” [Isaiah 5:20]
The Financial Jigsaw Part 2 – Chapter 8, this week exposes the special case of ‘Corporate Protector’ which some multinational corporations choose, or are encouraged, to use. It is not generally understood that corporations bear legal personhood which is why executives are able to hide behind corporate structures and avoid any responsibility for corporate (their) misdeeds as agents. Executives are legally untouchable…by design!
[Edited extracts of submissions by Mikhail Khodorkovsky originally published at I-System TrendCompass]. CORPORATIONS ARE LEGAL PERSONS, they have shareholders, boards of directors, and executives led by the CEO, CFO, and COO. Corporate personhood or juridical personality is the legal notion that a juridical person such as a corporation, separately from its associated human beings, has at least some of the legal rights and responsibilities enjoyed by natural persons. In most countries, a corporation has the same rights as a natural person to hold property, enter into contracts, and to sue or be sued.[Ref Wikipedia]
This week BOOM provides a review of the Chinese stock market and “If BOOM’s analysis is correct, this could be one of the greatest investment opportunities ever. Readers should watch closely over the next weeks and months.
BOOM Finance and Economics seeks out the very best information from authoritative sources and strives for consistency in its quality and trustworthiness. Over 5 years, BOOM has developed a loyal readership which includes many of the world’s most senior economists, central bankers, their senior advisers, fund managers, and academics. If you want a real edge in understanding the complex world of finance and economics, subscribe to BOOM on Substack or as a Follower on LinkedIn.
BOOM EDITORIAL THIS WEEK
ARE CHINA STOCKS CONSOLIDATING THEIR GAINS? Three months ago, in the 18th August Editorial, regarding the Chinese stock market, BOOM said under the Headline CHINA STOCK MARKET POISED TO RISE? “If BOOM’s analysis is correct, this could be one of the greatest investment opportunities ever. Readers should watch closely over the next weeks and months. This is an historic moment. BOOM will report progress from time to time.”
Political writing in our time consists almost entirely of prefabricated phrases bolted together like the pieces of a child’s Meccano set. [George Orwell]
This week my ‘Letter from Great Britain’ looks into the extreme efforts HMG is using to censor any narrative that doesn’t fit their official line which in itself belies their beneficent nature projected by the British Establishment and much more on the final demise of John Bull
A SHOCKING NEW REPORT FROM ‘AMERICA FIRST LEGAL’ (AFL) unveils a coordinated effort by the Biden-Harris administration and Britain’s Counter Disinformation Unit to criminalise dissent on a global scale. This elaborate scheme, involving powerful NGOs like the ‘Center for Countering Digital Hate’ and supported by NATO and the G7, aims to suppress free speech under the guise of combating “disinformation.”
This a stunning exposé of the Public-Private Partnerships between the U.S. Federal Government, HMG, Big Tech, and various NGOs, both foreign and domestic, which have unlawfully conspired to systematically censor the Western citizenry in the most partisan manner.
As governments tighten their grip on online discourse, concerns about civil liberties, free speech, and open dialogue have reached fever pitch. The entire western world is under attack by a deep state cabal that is trying to outlaw free speech in every country on the planet.
This week BOOM offers a detailed analysis of several country’s economic performance and provides a hypothesis of the reasons why economies fail to grow as in the past. The supply of fresh new physical cash and the supply of fresh new credit money (bank loans) are essential to keep the economic garden alive, healthy and growing.
BOOM Finance and Economics seeks out the very best information from authoritative sources and strives for consistency in its quality and trustworthiness. Over 5 years, BOOM has developed a loyal readership which includes many of the world’s most senior economists, central bankers, their senior advisers, fund managers, and academics. If you want a real edge in understanding the complex world of finance and economics, subscribe to BOOM on Substack or as a Follower on LinkedIn.
BOOM EDITORIAL THIS WEEK
FRESH NEW MONEY – WHERE DOES IT COME FROM ? A consistent supply of fresh new money is inextricably linked to the health of any economy.. A virtuous circle of good economic policies combined with good monetary policies must be established for nations to move towards prosperity.
“Happiness is a personal choice, it is the role of government to create the enabling environment for it.” [HE Ohood Al Roumi, UAE Minister for Happiness – UN Foundation Global Entrepreneurs Council.]
The Financial Jigsaw Part 2 – Chapter 7, this week explores the pros and cons of global government which the UN is promoting enthusiastically as covered by BOOM this week. It is impossible for me to see this project as anything other than political and I trust that the arguments presented will encourage further debate and critical thinking
NOTICE TO READERS: I can’t express enough my grateful thanks to all you wonderful supporters offering your free and paid subscriptions, and especially donations, as a result of my recent appeal. Your generous contributions have allowed me to complete my house move and continue with my Letters each week with little interruption. Blessings to all.
GLOBAL GOVERNMENT IS NO CONSPIRACY THEORY[Edited extracts from Dr. David McGrogan published at the DailySceptic.org.] As BOOM posted this week, we live in an age that is moving towards global government. This is not a conspiracy theory; it is something which perfectly respectable politicians, academics, policymakers and UN officials routinely discuss and support.
This week BOOM warns about the extreme rise in private debt. Once basic monetary facts are known and understood, it makes sense to watch closely for excessive growth in private debt as a warning sign that an economy is getting overheated and will soon reach limits to growth.
BOOM Finance and Economics seeks out the very best information from authoritative sources and strives for consistency in its quality and trustworthiness. Over 5 years, BOOM has developed a loyal readership which includes many of the world’s most senior economists, central bankers, their senior advisers, fund managers, and academics. If you want a real edge in understanding the complex world of finance and economics, subscribe to BOOM on Substack or as a Follower on LinkedIn.
BOOM EDITORIAL THIS WEEK
EXCESSIVE PRIVATE DEBT GROWTH IS AN ECONOMIC WARNING SIGN. BOOM has explained in many editorials that 97-98% of fresh new money creation occurs when commercial/retail banks make loans to willing borrowers. The remaining 2-3% of money origination comes from physical Cash, minted by the Treasury. These percentages apply in advanced, complex economies.
We don’t need to get into the geopolitical ramifications of Trump’s ego-centric foreign policy to agree that American democracy should be for Americans. [Karine Jean-Pierre]
Letter from South Africa this week looks at the ramifications of Donald Trump’s extraordinary victory in the recent US elections. What happens now in America will reverberate around the world and South Africa will not be excluded from the potential effects. The question remains: “War or Peace?”
CHOOSING DIPLOMACY OVER WAR: A LESSON FROM SOUTH AFRICA. Early conflict resolutions could have spared countless lives. Parallels between Rhodesia’s independence struggle, the current war in Ukraine, and the Israeli-Palestinian conflict, the motivations behind these prolonged proxy wars suggests that earlier peace efforts might save unnecessary bloodshed. South Africa’s peaceful transition is a model for diplomacy over conflict.
This week BOOM has some important suggestions about US monetary policy and suggests that central banks and economists take particular note of the importance of Cash-use in any advanced economy.
BOOM EDITORIAL THIS WEEK
ELON AND DONALD — INCREASE CASH – CASH CAN BE AN ECONOMIC POLICY INSTRUMENT. How to cut the deficit and get the American economy humming — make cash king again — the bankers will hate you Elon – but the answer is to print more cash (!!)
Last week, BOOM issued a strong warning to Elon Musk (and Donald Trump) to be wary of radical ideas about “balancing” the US Budget immediately by reducing government expenditures and the deficit by $2 Trillion. These ideas were stated by Elon Musk in an interview prior to the election and revealed a poor knowledge of government finances. He even went so far as to suggest that the US Government was close to “bankruptcy”.
Elon may be a good engineer but these statements reveal a woeful lack of understanding in regard to how the US government finances its budget deficit and how it runs its expenditure programs.
“Mr. Speaker, genocide is the most potent of all crimes against humanity because it is an effort to systematically wipe out a people and a culture as well as individual lives.” [Jerry Costello]
The Financial Jigsaw Part 2 – Chapter 7, episode this week explodes the myth of a functional British democracy. There are various descriptions that fit the bill and BOOM explained one this week by writing: “A Kakistocracy is a government run by the worst, least qualified, or most unscrupulous citizens.
HISTORY IT IS SAID TEACHES VALUABLE LESSONS but rarely is it taken to heart. The prevailing consensus is that history is linear and thus offers little guidance for the future. However, the reality is that history can be cyclical and, like waves on the sea, repeat a pattern of continuous cycles.
Any seaman will tell of the wave ‘Rule of Sevens’. By standing on the shore and counting the incoming waves, a pattern is formed of seven waves rolling in one after another, which is clearly obvious. Sometimes, first a large breaker is followed by six diminishing waves, until a short lull is detected before the cycle repeats but it’s far from consistent. Read more: all about Waves.
Cyclical history is one of the five philosophies of history. Everything is born, raises to maturity, followed by a decline, ends in death, and then reborn again; it’s a circular form. This circular theory is seen in: seasons, life, machinery, civilizations, and in culture. Ray Dalio published an interesting video about the cycles of history as they relate to empires:
This week BOOM puts to rest the demons of misunderstanding about government finances, bond markets, and by using facts he discredits comments that claim the financial demise of the US dollar and the US economy. Governments do not use household budgeting systems and do not go ‘bankrupt’. BOOM offers examples like Argentina and the failings of Western leadership.
BOOM Finance and Economics seeks out the very best information from authoritative sources and strives for consistency in its quality and trustworthiness. Over 5 years, BOOM has developed a loyal readership which includes many of the world’s most senior economists, central bankers, their senior advisers, fund managers, and academics. If you want a real edge in understanding the complex world of finance and economics, subscribe to BOOM on Substack or as a Follower on LinkedIn.
“If we have an economic crisis in the Western world it’s because the government makes up 50% or more of the economy. This is a cancer that is taking away people’s freedom.” [Marc Faber]
This week was dominated by the UK Budget which has received mixed responses. Political remedy is always based on imaginary ‘economic’ growth, but since Britain hasn’t significantly grown for more than 25 years, there appears to be no reason for optimism. There is more to review on the subject of ‘Decrepit Britain’ this week which charts the inevitable decline of a failed state and empire
‘I WOULDN’T WISH THIS ON ANYONE’: THE FOOD DELIVERY RIDERS LIVING IN ‘CARAVAN SHANTYTOWNS’ IN BRISTOL. Gig economy workers for Deliveroo and Uber Eats in the city are living in appalling conditions, while putting in long hours, earning low pay and facing mental health problems
BOOM takes and in-depth review of the BRICS Kazan summit last week and reveals some surprising conclusions contrary to some reports. Notably two aspects mark their plans: (1) A new international financial Clearing House was announced challenging the US dollar hegemony. And (2), support of the BRICS Group for reform of the United Nations Security Council, the Bretton Woods Institutions established in 1945, including the BRICS Bridge settlement platform
BOOM Finance and Economics seeks out the very best information from authoritative sources and strives for consistency in its quality and trustworthiness. Over 5 years, BOOM has developed a loyal readership which includes many of the world’s most senior economists, central bankers, their senior advisers, fund managers, and academics. If you want a real edge in understanding the complex world of finance and economics, subscribe to BOOM on Substack or as a Follower on LinkedIn.
I have rescheduled my ‘Letter from Great Britain’ to Saturday November 2, to accommodate next week’s vital UK Budget. Here is an abridged Letter this week and my appeal for support after my fall.
NOTICE TO READERS – APPEAL for donations and/or subsription following my fall and damage to my forehead when I struck a wall in July. I suffered concussion and nausea for weeks, entered hospital in September and continue to slowly recover but struggle to keep up with my publishing schedule. I know that we are all facing budgetary issues but any help, however small ($3/mth), would be greatly appreciated and help to keep my Letters flowing. Thank you all for your care and consideration over the years.
OLD NEWS – “Diabolical” Agendas and “Fake Democracy” in Britain – it’s worth looking back at was said some months ago. Who is our new PM?
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[This article entitled “Diabolical” Agendas and “Fake Democracy” in the U.K. by Michel Chossudovsky was first published by Global Research].What is the 21st century meaning of “diabolical”?The repeal of real democracy, wherein prime ministers and presidents are appointed by the ”Deep State”.
