The Post Millennial has an article discussing Bannon’s recent speech. In his “fiery speech from Turning Point USA’s Americafest”, Bannon tells the crowd that they are part of Trump’s war with the Deep State. The lawfare used against Trump, his lawyers, his associates and some who simply supported him is something that should not happen in this country. The deep state, the global elites, and their accomplices in the media have their sites set on destroying Trump and anyone who supports his policies. This is truly a war and needs to be fought as one.
Business & Economics
This Sums Up Why the Country is Where It is
Mission Impossible Israel Edition
Dani Buller (@askdani_real) has a great video explaining the difficulties Israel faces in responding to the Hamas terrorist as well as those supporting Hamas’ efforts through their global demonstrations.
The Maine Massacre: Where is the Government’s Accountability?
It was barely 2 hours after the events that the politization of it began. The Democrats and the media (but I repeat myself) began bloviating about the need for more gun control laws. However, as a former FBI agent (Eric Swecker sp?) who tracked Rudolph in the late 1990s said, there are already laws on the books in Maine (and most, if not all, states) to deal with removing weapons from those with mental health issues as well as their subsequent access to weapons. In this instance, the criminal was known to have mental health issues, was reportedly hearing voice, and supposedly made threats to attack a military base. The individual also had spent two weeks in a mental institution. How did this individual still have weapons or access to them? Why didn’t the government enforce the laws already on the books without infringing on everyone else’s constitutional rights? Why are the state governments softening their laws and prosecutors putting career criminals back on the street? I could go on and on.
Why isn’t the government doing its job? Because they hate you and are a bunch of unaccountable, unaccomplished buffoons who do nothing but enrich themselves at the expense of citizens of the U.S. They all need to be expelled for failing to adhere to their commitments to the constitution and the laws of the United States. The blood of the victims is on them – each and everyone on that did not take action to enforce current law – not the gun.
Progressives have proven themselves the Antisemites of Today
Hamas has been telling us for decades they want to exterminate the Jews. Hell, it is even in their charter. Due to the progressives being the fascist antisemites they are, they have made excuses for Hamas’ repeated attacks. Comments such as the statement in the charter doesn’t mean what it says, it was taken out of context, etc.
Now, after the attacks in Israel by Hamas, AOC (part of the Squad) is worried about Israel exterminating the Palestinians for their attack on Israel. When she said that she really doesn’t know much about the Middle East, she certainly has proven herself right.
Let’s see, the Israelis drop pamphlets telling civilians to evacuate before military action while the Palestinians attack civilian targets intending to inflict as many civilian casualties as possible. In addition, Hamas, the duly elected leaders of Palestinian government, has as part of its charter the destruction of Israel and the elimination of the Jews. I guess AOC needs to ask Siri what the definition of genocide is.
AOC and the Squad, bringing down our collective IQs each day.
The Coming Collapse?
As readers of this blog probably know, I am a firm believer that the global financial system should have collapsed in 2007-9 cycle. The collapse was staved off by the central banks around the world. Egon Von Greyerz has a post at Zero Hedge outlining his similar thoughts.
As outlined in the post,
the West led by a bankrupt USA will try all tricks in the books. That will include CBDCs (Central Bank Digital Currencies), much higher taxes especially for the wealthy, bank bail-ins (forcing depositors to buy 10-30 year government bonds), martial law and many more measures to restrict people’s everyday lives.
What is the end game if the currency collapses as has been the case for all paper currencies throughout history? Your survival may depend on having physical assets and/or ownership of commodities allowing you to trade with others. Trying to time your exit from these inflated values may not be worth the potential wealth destruction that occurs when the collapse happens.
When will the collapse happen? No one knows and perhaps it gets pushed out beyond your expected lifetime. However, don’t allow yourself to believe that the end will happen suddenly due to the exponential compounding of the debt. A great analogy is in the post talking about a football stadium filling with water starting with one drop:
Imagine a football stadium which is filled with water. Every minute one drop is added. The number of drops doubles every minute. Thus it goes from 1 to 2, 4, 8 16 etc. So how long would it take to fill the entire stadium? One day, one month or a year? No it would be a lot quicker and only take 50 minutes! That in itself is hard to understand but even more interestingly, how full is the stadium after 45 minutes? Most people would guess 75-90%. Totally wrong. After 45 minutes the stadium is only 7% full! In the final 5 minutes the stadium goes from 7% full to 100% full.
I agree with Mr. von Greyerz’s view: once you organize your financial affairs, you “must think about the people that need our help in whatever form. Then, enjoy life with family, friends as well as nature, books, music etc which are all free pleasures.”
Dedollarization: The New Black Swan?
Dedollarization, i.e. the U.S. dollar’s fall from the reserve currency around the globe, is a phenomena often discussed by economists but is not well understood.
Background
The U.S. dollar has been the dominant global reserve currency for decades, enabling the United States to enjoy many economic benefits and privileges, such as lower borrowing costs, easier access to foreign goods and services, and greater influence over international trade and finance. However, in recent years, the trend of dedollarization has been gaining momentum, as more countries and entities seek to diversify their currency holdings, reduce their exposure to U.S. sanctions and political risks, and assert their own financial sovereignty. This blog post aims to explore what dedollarization means, why it matters, and how it could affect the U.S. economy.
What is Dedollarization?
Dedollarization refers to the process of reducing or eliminating the use of the U.S. dollar as a means of payment, store of value, or unit of account in international transactions. This can take various forms, such as switching to other currencies, such as the euro, yen, yuan, or digital assets; creating new regional or global currencies, such as the euro or the SDR (Special Drawing Rights) of the IMF; bartering goods or services directly without using any currency; or adopting alternative payment systems, such as blockchain-based platforms or SWIFT alternatives.
Why Does Dedollarization Matter?
Dedollarization matters for several reasons, both for the countries that initiate it and for the global economy as a whole. For the countries that seek to dedollarize, the benefits can include reduced dependence on the U.S. financial system, enhanced economic autonomy and resilience, improved access to non-U.S. markets and investments, and reduced exposure to U.S. sanctions or other forms of financial pressure. For example, Russia has been actively dedollarizing its economy since 2014, following the imposition of Western sanctions over the annexation of Crimea, by increasing its use of domestic currency, barter deals, and non-dollar trade with China and other partners.
For the global economy, dedollarization can pose some challenges and opportunities, depending on the pace, scope, and coordination of the shift. On the one hand, dedollarization can increase the volatility, uncertainty, and fragmentation of the international financial system, as different currencies and payment systems may not be fully interchangeable, may not have the same liquidity and stability as the dollar, and may face geopolitical or regulatory obstacles. On the other hand, dedollarization can also promote more diversified, inclusive, and multipolar monetary and financial arrangements, which may reduce the systemic risks and imbalances that arise from the dominance of a single currency.
How Could Dedollarization Affect the U.S. Economy?
Dedollarization could affect the U.S. economy in various ways, depending on the extent and speed of the trend, and the responses of U.S. policymakers and markets. Here are some possible scenarios and impacts:
- Reduced demand for U.S. dollar assets: If more countries and investors shift away from holding U.S. dollars, U.S. Treasury bonds, and other U.S. assets, the demand for those assets could decline, leading to higher borrowing costs, lower asset prices, and weaker fiscal and monetary positions for the U.S. government and the private sector. This could also erode the status of the U.S. dollar as the world’s reserve currency, which could make it more expensive and harder for the U.S. to finance its deficits and maintain its global influence.
- Increased inflationary pressures: If the U.S. dollar depreciates relative to other currencies or assets, the imports of goods and services could become more expensive, leading to higher inflation and reduced purchasing power for U.S. consumers and businesses. This could also put upward pressure on U.S. interest rates and reduce the attractiveness
Few are talking about it, but it is happening much quicker than people thought. Is dedollarization the next Black Swan that impacts the U.S. economy?
The Impact of Government Budget Deficits on a Country’s Economy and Poor
Federal deficits, or the amount by which government spending exceeds government revenue, can have a significant impact on a country’s economy and its poor. While deficits can be caused by a variety of factors, including recession, increased spending, or tax cuts, the consequences are often felt most strongly by those at the bottom of the economic ladder.
One of the main ways that deficits impact the poor is through inflation. When the government spends more money than it takes in, it often has to borrow money from other countries or from the public by issuing bonds. This can increase the supply of money in circulation, leading to inflation. Inflation can hurt the poor the most because they typically have less access to credit and are less likely to be able to afford the rising prices of goods and services.
Another way that deficits can hurt the poor is through higher interest rates. When the government borrows money to finance a deficit, it increases the demand for credit, which can lead to higher interest rates. This can make it more expensive for the poor to borrow money for things like education, housing, or starting a business.
Deficits can also impact the poor by crowding out government spending on social programs. When the government has to spend more money on interest payments to service its debt, it has less money to spend on programs that help the poor, such as food assistance, housing subsidies, or healthcare. This can lead to cuts in these programs or a lack of funding to address growing needs.
Finally, deficits can hurt the poor by undermining economic growth. When a country has a large deficit, investors may become less confident in its ability to pay back its debt, leading to a decline in foreign investment and a drop in economic growth. This can lead to job losses and lower wages, which disproportionately affect the poor.
In conclusion, federal deficits can have a significant impact on a country’s economy and its poor. While deficits may sometimes be necessary to stimulate growth or address emergencies, they must be carefully managed to minimize their negative effects on the most vulnerable members of society. This requires a balancing act between government spending, taxation, and borrowing, as well as a commitment to ensuring that social programs are adequately funded and targeted to those who need them most.
Enemies of the State
When the enemies of the state end up controlling it, the citizens of the state become the enemy. You see that today with employees of the federal government at all levels and all branches on the take from foreign governments. They receive generous salaries, pensions and benefits far exceeding those of the average citizen who is required to pay into the scheme supporting them. As Dan Bongino has demonstrated, these enemies of the state receive money from foreign governments, NGOs and big business to buy silence allowing these organizations to drive government policy in a way to keep the enemies of the state unaccountable to the citizens.
The enemies of the state currently running the country have destroyed the value of our currency and sentenced future generations to lives of poverty. The debt they accumulated will be the hangman’s noose on the future generations. They are like the aliens from Independence Day moving from one country to the next after destroying the former.
The Constitution is not a suicide pact as Rush Limbaugh used to say. At some point, the people will rise up against the state as our founders did. Freedom and limited government will once again be the rallying cry for a great nation until once again success breeds contentedness allowing the enemies of the state to once again take control.
The Biden Foreign Agent Scandal
All week on his radio show, Dan Bongino has been putting together the pieces and assembling them in a fashion that makes everything clear: Joe Biden is a forein agent. In his book Follow the Money Bongino has a chapter titled “Ensane in Ukraine” wherein he puts together the facts detailing how much money was being made by many in the establishment due to the corruption in Ukraine. Joe Biden was the point person on Ukraine for the Obama administration, and how he wanted to get in on the action. Biden’s son Hunter was given consulting/board roles from an energy company in Ukraine providing what was essentially a now-show job. Hunter got paid and would “pay” Joe completing the money trail ($50,000 for rent). Joe would lobby Obama and others for money and arms to be sent to Ukraine making Joe a foreign agent. We know this is how it work due to Hunter’s ex-partner, Tony Bobulinski, has said that “10% was for the big guy” who he said was Joe. Further, in the last days of the Obama administration, Biden went to Ukraine. Why? Because he needed to tie everything down to ensure the money continue unabated.
Didn’t we see the same thing beginning to take shape in China?
Now, we find that Biden had classified documents from when he was a senator as well as vice-president which is a violation of law. Unlike a former president, the vice president is not allowed to have those documents. The presidents determine what is classified or not, so them possessing documents post-term is not unusual. As a matter of fact, it is very usual for the Federal Archived and the former presidents to have disagreements over such documents.
Were the classified documents at the Penn Center (who received multi-millions in contributions from the Chinese Communist Party) about China allowing the Chinese (and others paying into the scheme) to see them?
Were the documents found at his homes related to Ukraine hiding his activities there?
Conclusion, our federal government is nothing but a scam filled with those on the take being protected by the deep state. This allows the money to keep rolling to them all while our liberty and freedoms are being eviscerated by them.
It is about time to rid ourselves of them all.