Financial Survival in the Demographic Crunch : The Corbett Report

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22-03-19 09:12:00,

Corbett

03/22/2019

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James joins Melody Cedarstrom on the Financial Survival radio show for their regular, bi-monthly conversation. This time we discuss the disappearance of free will and the rise of Big Tech, the demographic crunch in Japan, China’s belt and road diplomacy, and the recent crisis in Kashmir.

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Tagged with: chinademographicsgoldindiajapanobor

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Interview 1425 – Financial Survival and the Disappearing Middle Class : The Corbett Report

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07-03-19 10:16:00,

Corbett

03/07/2019

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James joins Melody Cedarstrom on the Finanical Survival radio show for their regular, bi-monthly conversation. This time we discuss the disappearance of the middle class, universal basic income, the International Criminal Court, the Trump-Kim summit in Hanoi and the recent flare up between India and Pakistan over Kashmir.

SHOW NOTES
The International Forecaster

Data Is The New Oil

Left-media Layoffs Spark #LearnToCode Meme, They Are Not Amused

Universal Basic Enslavement

Warren Mosler Defends the Essential Insights of Modern Monetary Theory (MMT)

Victor’s Justice: The Truth About the International Criminal Court

ICC Situations Under Investigation

“It Can’t Be Fixed:” Senior ICC Judge Quits in Protest of US, Turkish Meddling

Interview 891 – Christopher Black Destroys the Myth of the Rwandan “Genocide”

In/Dependence Day: Foreign Intervention Behind Creation of South Sudan

Satellite images show buildings still standing at Indian bombing site

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Tagged with: economyiccindianorth koreapakistanubi

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“Financial Nuclear Warheads” – The Yellow Vests Get It Right

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15-01-19 09:08:00,

Authored by Robert Gore via Straight Line Logic blog,

The mainstream media has degenerated irreparably. Here’s a reliable rule of thumb: if it’s important it’s not covered; if it’s covered it’s not important. Stories in the American mainstream press about Yellow Vest protests have been few. One aspect of the protests, transcendently important, has received scant coverage.

The Yellow Vest protestors have called for a coordinated run on French banks. Whether they realize it or not, they’re playing with nuclear warheads that could annihilate not just the French, but Europe’s and the entire world’s financial system. Because inextricably linked to the ends of contemporary governments―how much they can screw up the lives of those who must live under them—is the question of means―how do they fund their misrule? The short answer is taxes and debt.

Since 1971, when President Nixon 
“temporarily” suspended international convertibility of dollars for gold (it’s never been reinstated), the monetary basis of the global economy has been fiat debt. Neither government or central bank debt nor currencies are tethered to any real constraint, like precious metals (see “Real Money,” SLL). Thus, politicians and monetary officials can create as much debt as they want: debt by fiat.

Government and central bank debt is at the apex of the global debt pyramid. The next tier is commercial banks that have accounts at central banks. Those accounts are bank assets and central bank liabilities, or debts. Central banks expand their fiat liabilities to banks in exchange for banks’ fiat government debt, an exchange called debt monetization, which is a bit of a misnomer since no “Real Money” is involved. The “monetization” is the central bank’s fiat expansion of banks’ accounts with the central bank in exchange for fiat government debt, which expands banks’ assets available for loans to governments, businesses, and individuals.

In “Real Money,” money was defined, in part, as that which has intrinsic value and is not a liability of an individual or entity. This part of the definition is controversial; it invalidates everything we currently think of as money. Popularly accepted definitions are essentially: money is as money does,

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US Mass Mobilizations: Wars and Financial Plunder – Global Research

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26-11-18 05:43:00,

Over the past three decades, the US government has engaged in over a dozen wars, none of which have evoked popular celebrations either before, during or after.  Nor did the government succeed in securing popular support in its efforts to confront the economic crises of 2008 – 2009.

This paper will begin by discussing the major wars of our time, namely the two US invasions of Iraq. We will proceed to analyze the nature of the popular response and the political consequences.

In the second section we will discuss the economic crises of 2008 -2009, the government bailout and popular response. We will conclude by focusing on  the potential powerful changes inherent in mass popular movements.

The Iraq War and the US Public

In the run-up to the two US wars against Iraq, (1990 – 01 and 2003 – 20011) there was no mass war fever, nor did the public celebrate the outcome. On the contrary both wars were preceded by massive protests in the US and among EU allies.  The first Iraqi invasion was opposed by the vast-majority of the US public despite a major mass media and regime propaganda campaign backed by President George H. W. Bush.  Subsequently, President Clinton launched a bombing campaign against Iraq in December 1998 with virtually no public support or approval.

March 20, 2003, President George W. Bush launched the second major war against Iraq despite massive protests in all major US cities.  The war was officially concluded by President Obama in December 2011. President Obama’s declaration of a successful conclusion failed to elicit popular agreement.

Several questions arise: Why mass opposition at the start of the Iraq wars and why did they fail to continue?

Why did the public refuse to celebrate President Obama’s ending of the war in 2011?

Why did mass protests of the Iraq wars fail to produce durable political vehicles to secure the peace?

The Anti-Iraq War Syndrome

The massive popular movements which actively opposed the Iraq wars had their roots in several historical sources.  The success of the movements that ended the Viet Nam war, the ideas that mass activity could resist and winwas solidly embedded in large segments of the progressive public. 

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The European Financial Establishment Just Declared War On Italy

The European Financial Establishment Just Declared War On Italy

21-10-18 12:54:00,

Via GEFIRA,

This week in a CNBC interview Jeroen Dijsselbloem, the former Dutch minister of finance who served as the President of the Eurogroup, declared war on the Italian government. 

The European financial establishment is prepared to destroy the banking system and cause the Italian economy to implode. Like a Mafia boss, Dijsselbloem warned that Italy could run into trouble if it does not comply with Brussels’ directives. Of course, his statement was cloaked in diplomatic language:

“If the Italian crisis becomes a major crisis, it will mainly implode into the Italian economy … as opposed to spreading around Europe,” he said.

“Because of the way that the Italian economy and the Italian banks are financed, it’s going to be an implosion rather than an explosion.”

For a man of this format it is unusual to publicly expose Italy as a state in a weak negotiating position or try to act as a scaremonger. We have never seen anything remotely like that, so we think that the utterance could only serve the purpose of giving the green light to the financial markets to orchestrate an attack on Italian bonds so as to drive Italian yield up.

“And there is gonna be a role for the markets, I mean if you look at what Italy needs in funding next year alone we are talking about over 250 billion Euro, refinancing part of the stock of their debt and also, of course, these new spending plans. So markets will really have to look at that very critically.”

He reminded the Italian government that Italian banks are a sitting target for the European financial authorities. In order to destabilize a country’s economy, one must break its backbone i.e. banks.

“There will also have to be a role for the Banking authority, banking supervisor to look what this does to the Italian banks. We have already seen their stock valuation are going down” Mr Dijsselbloem said with a smile.

Under the leadership of Jeroen Dijsselbleom, Greece was cut off from TARGET 2, the European payment system, so that not a single euro could be transferred abroad for a long time .

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Why the Financial System Will Break: | Light On Conspiracies – Revealing the Agenda

Why the Financial System Will Break: | Light On Conspiracies – Revealing the Agenda

09-01-18 06:27:00,

By Charles Hugh Smith

Central banks are now trapped.

In a nutshell, central banks are promising to “normalize” their monetary policy extremes in 2018. Nice, but there’s a problem: you can’t “normalize” markets that are now entirely dependent on extremes of monetary stimulus. Attempts to “normalize” will break the markets and the financial system.

Let’s start with the core dynamic of the global economy and nosebleed-valuation markets: credit.

Modern finance has many complex moving parts, and this complexity masks its inner simplicity.

Let’s break down the core dynamics of the current financial system.

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The Core Dynamic of the “Recovery” and Asset Bubbles: Credit

Credit is the foundation of the current financial system, for credit enables consumers to bring consumption forward, that is, buy more stuff today than they could buy with the cash they have on hand, in exchange for promising to pay principal and interest with their future income.

Credit also enables speculators to buy more assets than they otherwise could were they limited to cash on hand.

Buying goods, services and assets with credit appears to be a good thing: consumers get to enjoy more stuff without having to scrimp and save up income, and investors/speculators can reap more income from owning more assets.

But all goods/services and assets are not equal, and all credit is not equal.

There is an opportunity cost to any loan (i.e. credit), as the income that will be devoted to paying principal and interest in the future could have been devoted to some other use or investment.

So borrowing money to purchase a product or an asset now means foregoing some future purchase.

While all products have some sort of payoff, the payoffs are not equal. If I buy five bottles of $100/bottle champagne and throw a party, the payoff is in the heady moments of celebration. If I buy a table saw for $500, that tool has the potential to help me make additional income for years or even decades to come.

If I’m making money with the table saw, I can pay the debt service out of my new earnings.

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