Greg Hunter – Money manager Michael Pento says President Trump sent a profound financial message to Wall Street and Main Street when he said $74 billion in Puerto Rican debt needed to be “wiped out.” Pento, who is also an economist, explains, “What I find very striking is that Trump said, very honestly, we’re going to get rid of that. We’re going to abrogate it. We’re going to cancel that debt.
So, he’s telling private creditors, Goldman Sachs, pension funds and individual bond holders, you’re going to get close to, if not exactly, zero cents on the dollar.
That’s an explicit default on debt. . . . Ladies and gentleman, please listen to me, the governments of the world, which include the United States, Puerto Rico, Greece, China, Japan and Eurozone, they are going to default on their debt either explicitly or implicitly through inflation. That is what’s happening now, and that condition will only exacerbate as we go through time.”
Continue reading “Massive Global Defaults Coming [Video]”
Joseph P Farrell – I’ve been meaning to comment on the German election results and what they might portend, but divining that will certainly be another case of high octane speculation, from start to finish. As is known by now, Mad Madam Merkel was returned to the Chancellorship. Hoch soll Sie leben, dreimal hoch! But enough of that. In referring to her as Mad Madam Merkel, I do quite deliberately mean to evoke images of the Disney cartoon character, Mad Madam Mim, for the physical – and policy – resemblance between the two is quite palpable.
But in spite of the way the election is being spun in some outlets, Frau Merkel returns as Bundeskanzlerin in a considerably weakened coalition government, and it remains to be seen how long this government will last. For one thing, the AfD (Alternativ fur Deutschland) Party, the party rejecting the wacky Gramscian multiculturalism agenda that, in the guise of refugee policy, seeks to transform German, and European culture, captured some 12.6% of the vote and 94 seats in the Bundestag. As for Frau Merkel’s CDU (Christian Democratic Union) party itself, its share of the votes plummeted from 41.6% percent in the previous election to under 33% in this last election. The source of these statistics is here (shared by Mr. V.T.):
What Can Be Done? Continue reading “The German Elections: Schauble Out… For The Moment…”
Gary Christenson – There are five identical bags of gold, and each contains ten gold coins. However, one of the five bags contains fake gold. The real gold, fake gold, and five bags appear identical, except the coins of fake gold each weigh 1.1 ounces, and the real gold coins each weigh 1 ounce. You have an accurate digital scale and CAN USE IT ONLY ONCE.
How do you determine which bag contains the fake gold? (Thanks to my friend Brian C. for sending me this dilemma.)
There is a straight-forward answer to this question, but let’s speculate on what happens when we involve politics and prejudice
The European Politician: As Prime Minister Junker said, “When it becomes serious, you have to lie.” Forty ounces of gold is serious wealth, and we discourage using gold, so this is one of many times when lying is required. These gold coins are fakes and we are confiscating them. The supposed owner will be charged with several crimes. Continue reading “The Gold Coin Dilemma, Politics and Nonsense”
Judicial Watch – Illegal immigration costs American taxpayers a mind-boggling $134.9 billion annually, according to a detailed analysis of federal, state and local programs that include education, medical, law enforcement and welfare.
Conducted by the Federation for American Immigration Reform (FAIR), a Washington D.C. nonprofit dedicated to studying immigration issues, the in-depth probe reveals that state and local taxpayers get stuck with an overwhelming chunk—$116 billion—of the burden.
State and local expenditures for services provided to illegal aliens total $88.9 billion and federal expenditures $45.8 billion, the analysis found. For those who claim illegal immigrants contribute by paying taxes, government figures show that only $19 billion was recouped by Uncle Sam.
“A continually growing population of illegal aliens, along with the federal government’s ineffective efforts to secure our borders, present significant national security and public safety threats to the United States,” the FAIR report states. “ Continue reading “Illegal Immigration Costs U.S. Taxpayers a Stunning $134.9 Billion a Year”
Joseph P Farrell – We’ve seen a spate of hacking lately that makes one wonder what is going on and who is behind it: indeed, are we dealing with just one “who”? or a multitude? And if a multitude, are their activities coordinated in any way? If one looks at all the stories in recent years, going all the way back to 9/11 (and indeed further), then the total picture looks grimly compelling.
There was the Sony hack, of course, but since then, we’ve heard stories and allegations of the hacking of major banks: JP Morgan Chase, even the Federal Reserve, and, just yesterday I blogged about the implications of recently fired Vatican bank auditor Libero Milone, who’s short statement implicates similar activity against (or by?) the Vatican bank. Then the Social Security administration, credit reporting agencies like Equifax, and so on.
On 9/11, as I outlined in my book Hidden Finance, Rogue Networks, and Secret Sorcery, there were reports from workers at Deutsche Bank in New York that their system had been invaded and non-responsive for about seven seconds, apparently trades were executed, just before the planes struck. As is known, during the following week, normal securities clearing regulations were suspended, which allowed securities to be substituted for other securities that were scheduled to clear. We’ll get back to the SEC in a moment. Continue reading “Securities And Exchange Commission Hacked”
Greg Hunter – Investment advisor and former Assistant Secretary of Housing Catherine Austin Fitts says you can add $21 trillion of missing federal money on top of the $20 trillion U.S. deficit. It’s all in a new explosive report on Solari.com. Fitts explains, “This is $65,000 for every man, woman and child resident in America. In addition, it is now more than the outstanding official debt on the U.S. balance sheet. . . . We know that the U.S. government has been run like a criminal enterprise from a financial standpoint.”
The new report was put together by Dr. Mark Skidmore at Michigan State University, and it is a detailed year-by-year study of DOD and HUD budgets between 1998 and 2015.
The missing money is called “undocumentable adjustments,” but that may just be a polite name for theft, fraud and crime against “We the People.” Fitts contends, “Here’s the critical issue because technology is leading us through tremendous change, and the people who get their hands on this technology and are able to subsidize the cost of capital are the ones that are going to win.
They have done that by basically hijacking the federal credit and using it to help centralize power under them. So, we have to reverse that, and the Constitution is the tool to hold them accountable. All their arguments just fall down when you realize they have just stolen an enormous amount of money from the federal government outside the law. . . . The U.S. Federal government doesn’t have information sovereignty, and it doesn’t have financial sovereignty. So, we have to return it to that, and we have to keep that mechanism open long enough to get this money back.” Continue reading “$21 Trillion Missing – U.S. Government a Criminal Enterprise [Video]”