Macleod: “The Last This Happened Was 1929-32…”

macleod:-“the-last-this-happened-was-1929-32…”

05-10-19 11:52:00,

Authored by Alasdair Macleod via GoldMoney.com,

An Inflationary Depression

Financial markets are ignoring bearish developments in international trade, which coincide with the end of a long expansionary phase for credit. Both empirical evidence from the one occasion these conditions existed in the past and reasoned theory suggest the consequences of this collective folly will be enormous, undermining both financial asset values and fiat currencies.

The last time this coincidence occurred was 1929-32, leading into the great depression, when prices for commodities and output prices for consumer goods fell heavily. With unsound money and a central banking determination to maintain prices, depression conditions will be concealed by monetary expansion, but still exist, nonetheless.

Introduction

The unfortunate souls who are beholden to macroeconomics will read this article’s headline as a contradiction, because they regard inflation as a stimulant and a depression as the consequence of deflation, the opposite of inflation.

An economic depression does not require deflation, if by that term is meant a contraction of the money in circulation. More correctly, it is the collective impoverishment of the people, which is most easily achieved by debasement of the currency: in other words, monetary inflation. Fundamental to the myth that an inflation of the money supply is the path to economic recovery are the forecasts by the economic establishment that the world, or its smaller national units, will suffer no more than a mild recession before economic growth resumes. It is not only complacent central bank and government economists that say this, but their followers in the private sector as well.

It is for this reason that the S&P 500 Index is still only a few per cent below its all-time high. If there was the slightest hint that Corporate America risks being destabilised by a depression, this would not be the case. All the alarmist chatter about this and that in the blogosphere has no relevance: the world of investment is as bullish as it has ever been. Everyone has bought into the promise of applied macroeconomics and cannot afford to believe in the contrary signals from classical economics, shorn of the macroeconomists’ insistence that what applies to individuals on a micro-level does not apply to them at the macro-level.

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What Happened to Luigi Di Maio’s Antinuclear Commitment?, by Manlio Dinucci

what-happened-to-luigi-di-maio’s-antinuclear-commitment?,-by-manlio-dinucci

11-09-19 10:29:00,

Like all European environmental parties, without any exception, Luigi Di Maio’s Five-Star Movement is deeply anti-nuclear. It campaigned vehemently on this theme. And like all European environmental parties, when they come to power, they defend NATO, its wars and its nuclear policy.

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Is there finally a Minister of Foreign Affairs who will commit to Italy joining the UN Treaty on the Prohibition of Nuclear Weapons?

The neo-minister Luigi Di Maio subscribed in 2017 to the Ican Parliamentary Pledge, the international coalition to which was awarded the Nobel Peace Prize [1]. In doing so, the political leader of the 5 Stars Movement – the current Minister of Foreign Affairs – has pledged to “promote the signature and ratification of this Treaty of Historic Importance” by Italy.

The Ican Commitment was also subscribed to by other current 5-star ministers -Alfonso Bonafede (Justice), Federico D’Incà (Relations with Parliament), Fabiana Dadone (Public Service) – and by other M5S parliamentarians, like Roberto Fico and Manlio Di Stefano.

But there is a problem. Article 4 of the Treaty states: “Each State Party which has nuclear weapons owned or controlled by another State on its territory shall ensure the prompt withdrawal of such weapons”. To accede to the UN Treaty, Italy should ask the United States to withdraw B-61 nuclear bombs from its territory (which already violate the Non-Proliferation Treaty) and not to install the new B61 -12 or other nuclear weapons. Moreover, since Italy is one of the countries which (as NATO itself states) “provide the Alliance with aircraft equipped to carry nuclear bombs, over which the United States retains absolute control, and staff trained for this purpose “, to accede to the UN Treaty, Italy should ask to be exempted from this function.

Unthinkable requests from the second Conte government which, like the first, considers the United States as a “privileged ally”.

Here is where the cards are shown. The Ican Commitment was subscribed to in Italy by more than 200 parliamentarians, mostly from the Pd and the M5S (about 90 each), the current government parties. With what result?

On September 19, 2017, the day before the Treaty was opened for signature, the House approved a Pd motion (also voted by Forza Italia and Fratelli d’Italia) which committed the Gentiloni government to “evaluate the possibility”

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‘Whatever happened to suicide watch?’ Suspicion reigns as Epstein’s secrets die with him

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10-08-19 06:07:00,

The death by apparent suicide of convicted pedophile Jeffrey Epstein shocked few pundits. Given his previous attempt on his own life and powerful connections, how could Epstein have been left alone to kill himself?

Epstein was found dead in his Manhattan jail cell on Saturday morning, with law enforcement sources telling multiple media outlets his death was a suicide. The 66-year-old millionaire had been held in custody since his arrest last month on charges of child sex trafficking and conspiracy.

Puzzlingly, Epstein had supposedly been placed on suicide watch since he was found “injured and in a fetal position” in the cell two weeks ago, after a suspected hanging attempt. “Logistically speaking how does a person hang himself in solitary confinement under suicide watch?”asked conservative commentator Matt Walsh.

I’m sorry but it’s extraordinarily fishy that a prisoner with this high of a profile, who had already allegedly attempted suicide before, was able to kill himself with success in a federal prison.

This is an enormous scandal that must be investigated. Was he helped? https://t.co/XjcMkkz4BL

— Emma Vigeland (@EmmaVigeland) August 10, 2019

So, suicide watch. That means a paper dress. Having no access to shoelaces. Monitored 24/7 (23 hours with a guard outside, everything else is on CCTV). How’s he fashion a noose for himself? Did they take him off suicide watch? Did a guard get paid to look the other way? Weird.

— Ian Miles Cheong (@stillgray) August 10, 2019

Adding to the conspiracy, one of Epstein’s alleged victims claimed to have been trafficked by the financier to a ‘who’s who’ of the world’s rich and powerful, including British Prince Andrew, billionaire investor Glenn Dublin, “another prince,” a “foreign president,” a “well-known prime minister,” and the owner of a French “large hotel chain.” The alleged victim’s testimony was unsealed on Friday, hours before Epstein’s suicide.

Even mainstream media talking heads and their followers saw conspiracy. Within an hour of the news breaking, “Clintons” and “#ClintonBodyCount” – referencing a decades-old conspiracy theory that Bill and Hillary Clinton are responsible for a string of suspicious suicides – were also trending on Twitter behind “Epstein.”

Authorities couldn’t keep Epstein alive by putting him under 24 hour surveillance?

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Here’s What Happened When a Journalist Exposed a Pedo Sex Ring in Mexico

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28-07-19 06:30:00,

By Kurt Nimmo

On July 23, the Committee to Protect Journalists (CPJ) called for Mexican authorities to protect investigative reporter Lydia Cacho Ribeiro.

Two days prior, unidentified thugs broke into the journalist’s home, killed her two dogs, stole a laptop, audio recorder, three cameras, memory cards, and ten hard drives “containing information about sexual abuse cases the reporter was investigating,” according to the CPJ and Cacho. The attackers also damaged personal belongings including photographs.

This is my personal response to the new attack we recieved at home. Thank you for your solidarity. We must focus on facts and evidence regarding the extent of impunity and how it empowers the mafias. #WeWillNorSurrenderToSilence #JournalismIsAlive pic.twitter.com/aEJoKbITT1

— Lydia Cacho (@lydiacachosi) July 25, 2019

It’s remarkable Cacho is still alive. In 1999, she was beaten and raped in retaliation for her investigations. Despite this, she continued to report on sex rings and the trafficking and murder of Mexican girls.

In 2005, she published Los Demonios de Edén (The Demons of Eden), a book exposing a child sex trafficking ring involving politicians, government officials, and businessmen. Cacho was arrested and charged with defamation following the book’s publication.

CPJ reported at the time:

The underlying defamation case is based on a complaint filed by Puebla-based clothes manufacturer José Camel Nacif Borge, the Mexican press said. In a book released in May titled, “The Demons of Eden,” Cacho described the activities of a child prostitution ring that she said operated with the complicity of local police and politicians. She alleged that Nacif had ties to an accused pedophile, which the businessman said damaged his reputation.

Borge is one of the wealthiest men in Mexico. Known as “El Rey de la Mezclilla” (the Denim King), he amassed his wealth by manufacturing clothing for  Calvin Klein, Tommy Hilfiger, Chaps, Gap, Abercrombie & Fitch, and American Eagle Outfitters. An investigation by the Game Commission of Nevada looked into Borge’s links to drug smuggling and gun-running.

Threats against Cacho’s life were serious enough to warrant protection by the federal police.

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Whatever Happened to Peak Oil? | New Eastern Outlook

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31-12-18 01:57:00,

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Back during the early days of the Bush-Cheney administration, countless articles and even official statements by the International Energy Agency and various governments proclaimed the onset of what was termed Peak Oil. This was a time when former Halliburton CEO, Vice President Dick Cheney, was named to head the White House Energy Task Force. In the run up to the March 2003 war on Iraq, peak oil or absolute decline in world oil reserves seemed a plausible explanation, if not justification, for the G.W. Bush invasion of Iraq. This author was also for a time persuaded that could explain the oil war. Yet, today we hear little about peak oil. Why, is interesting.

Peak Oil was and is an invention of certain financial circles along with Big Oil to justify among other things ultra-high prices for their oil. The peak oil theory they promoted to justify the high prices, hearkened back to the 1950’s and an eccentric oil geologist with Shell Oil in Houston named King Hubbard.

Bell Curves and such

While working for Shell Oil in Texas, Marion King Hubbert, or King, as he preferred to be known, was asked to deliver a paper to the annual meeting of the American Petroleum Institute in 1956, an event that would become one of the most fateful examples of scientific fabrication in the modern era.

Hubbert posited all of his 1956 conclusions, including that the US would reach oil peak in 1970, on the unproven assumption that oil was a fossil fuel, a biological compound produced from dead dinosaur detritus, algae or other life forms originating some 500 million years back. Hubbert accepted the fossil theory without question, and made no evident attempts to scientifically validate such an essential and fundamental part of his argument. He merely asserted ‘fossil origins of oil’ as Gospel Truth and began to build a new ideology around it, a neo-Malthusian ideology of austerity in the face of looming oil scarcity. He claimed oil fields obeyed the Gaussian bell curve, itself an arbitrary heurism.

For the giant British and American oil companies and the major banks backing them, the myth of scarcity was necessary if they were to be able to control the availability and price of petroleum as the lifeline of the world economy.

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3 Things That Happened Just Before The 2008 Crisis Are Happening Again Right Now

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30-11-18 06:34:00,

Authored by Michael Snyder via The Economic Collapse blog,

Real estate, oil and the employment numbers are all telling us the same thing, and that is really bad news for the U.S. economy.  It really does appear that economic activity is starting to slow down significantly, but just like in 2008 those that are running things don’t want to admit the reality of what we are facing.  Back then, Fed Chair Ben Bernanke insisted that the U.S. economy was not heading into a recession, and we later learned that a recession had already begun when he made that statement.  And as you will see at the end of this article, current Fed Chair Jerome Powell says that he is “very happy” with how the U.S. economy is performing, but he shouldn’t be so thrilled. 

Signs of trouble are everywhere, and we just got several more pieces of troubling news.

Thanks to aggressive rate hikes by the Federal Reserve, the average rate on a 30 year mortgage is now up to about 4.8 percent.  Just like in 2008, that is killing the housing market and it has us on the precipice of another real estate meltdown.

And some of the markets that were once the hottest in the entire country are leading the way down.  For example, just check out what is happening in Manhattan

In the third quarter, the median price for a one-bedroom Manhattan home was $815,000, down 4% from the same period in 2017. The volume of sales fell 12.7%.

Of course things are even worse at the high end of the market.  Some Manhattan townhouses are selling for millions of dollars less than what they were originally listed for.

Sadly, Manhattan is far from alone.  Pending home sales are down all over the nation.  In October, U.S. pending home sales were down 4.6 percent on a year over year basis, and that was the tenth month in a row that we have seen a decline…

Hope was high for a rebound (after new-home-sales slumped), but that was dashed as pending home sales plunged 2.6% MoM in October (well below the expected 0.5% MoM bounce).

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What Just Happened in Syria. Momentous Implications Far Bigger than the Attacks Themselves | Global Research – Centre for Research on Globalization

What Just Happened in Syria. Momentous Implications Far Bigger than the Attacks Themselves | Global Research – Centre for Research on Globalization

15-04-18 09:30:00,

What happened right after the second direct U.S.-missiles invasion of Syria, which had occurred on the night of April 13th, could turn out to have momentous implications — far bigger than the attacks themselves.

The Organisation for the Prohibition of Chemical Weapons headlined on April 14th, in the wake of this U.S.-UK-France invasion of Syria that was allegedly punishing Syria’s Government for allegedly having used chemical weapons in its bombing in the town of Douma on April 7th, “OPCW Fact-Finding Mission Continues Deployment to Syria”, and reported that:

The Fact-Finding Mission (FFM) team of the Organisation for the Prohibition of Chemical Weapons (OPCW) will continue its deployment to the Syrian Arab Republic to establish facts around the allegations of chemical weapons use in Douma.

The OPCW has been working in close collaboration with the United Nations Department of Safety and Security to assess the situation and ensure the safety of the team.

This means that the effort by the U.S. and its allies on the U.N. Security Council, to squash that investigation, has failed at the OPCW, even though the effort had been successful at blocking U.N. support for that specific investigation.

The OPCW is not part of the U.N., nor of any country; it, instead (as introduced by Wikipedia):

is an intergovernmental organisation and the implementing body for the Chemical Weapons Convention, which entered into force on 29 April 1997. The OPCW, with its 192 member states, has its seat in The Hague, Netherlands, and oversees the global endeavour for the permanent and verifiable elimination of chemical weapons.

In conformity with the unchallenged international consensus that existed during the 1990s that there was no longer any basis for war between the world’s major powers, the Convention sought and achieved a U.N. imprimatur, but this was only in order to increase its respect throughout the world. The OPCW is based not on the U.N. Charter but on that specific treaty, the Chemical Weapons Convention, which was formally approved by the U.N.’s General Assembly on 30 November 1992 and was then opened for signatures in Paris on 13 January 1993. According to the Convention’s terms,

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