Tuesday, September 29, 2020

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Experts Warn Of Chaos For The U.S. Economy As China Declares That “The Biggest Trade War In Economic History” Has Begun

by Michael Snyder, The Economic Collapse Blog:

Nothing is going to be the same after this.  On Friday, the United States hit China with 34 billion dollars in tariffs, and China immediately responded with similar tariffs.  If it stopped there, this trade war between the United States and China would not be catastrophic for the global economy.  But it isn’t going to stop there.  Donald Trump is already talking about hitting China with an additional 500 billion dollars in tariffs, which would essentially cover pretty much everything that China exports to the U.S. in a typical year.  The Chinese have accused Trump of starting “the biggest trade war in economic history”, and they are pledging to fight for as long as it takes.  As I discussed yesterday, the only way that one side is going to “win” this trade war is if the other side completely backs down, and that simply is not going to happen.  So there is going to be economic pain, and that pain is likely to intensify for as long as this trade war persists.  U.S. businesses that will be affected by foreign tariffs are already cutting back production and laying off workers, and CNN is reporting that 1,300 products have suddenly become more expensive for U.S. consumers.  There will be nowhere that anyone can hide from this trade war, and it will ultimately affect every single man, woman and child in the entire country.

Gold and a Drive Down Memory Lane

by Gary Christianson, Miles Franklin:

For most of human history gold was money. The currencies that circulated were silver, gold or paper backed by silver and gold.

Times have changed.

In 2018 we live with the Internet, fast communications, and huge piles of unpayable debt. The consequences of massive debt include:

  • That debt ($200+ trillion globally) cannot be repaid except by additional borrowing which enlarges the debt pile.
  • The owners of debt paper believe debt is an asset. They expect payment plus interest.
  • Rising interest rates make the debt destructive and the debt service more onerous.
  • Few people, businesses or governments want the debt-based system to change. Governments borrow and spend. Corporations borrow, buy back stock and boost bonuses and dividends. Individuals buy now and pay later.
  • Since no politicians and few corporate CEOs expect to repay debt, their promises to repay are unreal.
  • Commercial and central bankers create more debt every day so debtors can pay interest. This enables government deficit spending and inflates the debt bubble. More currency in circulation creates consumer price inflation.
  • A system based on debt, “funny money,” false promises and destroying capital through inflation is neither real nor sustainable.

Judge Lewis A. Kaplan, “The Chickenshit Club,” and Spiraling Corporate Crime

by Pam Martens and Russ Martens, Wall St On Parade:

Last year Simon & Schuster released The Chickenshit Club: Why the Justice Department Fails to Prosecute Executives by the Pulitzer Prize winning journalist at ProPublica, Jesse Eisinger. If you read nothing else this summer, you should read this book followed by Nomi Prins’ Collusion: How Central Bankers Rigged the WorldThe two books provide Americans with a comprehensive understanding of how the Justice Department, Federal regulators, a growing number of Federal judges and the central bank of the United States known as the Federal Reserve have been corrupted by corporate influence. To a large degree, they now serve their corporate masters, not the American people.

Judge Lewis A. Kaplan, “The Chickenshit Club,” and Spiraling Corporate Crime

by Pam Martens and Russ Martens, Wall St On Parade:

Last year Simon & Schuster released The Chickenshit Club: Why the Justice Department Fails to Prosecute Executives by the Pulitzer Prize winning journalist at ProPublica, Jesse Eisinger. If you read nothing else this summer, you should read this book followed by Nomi Prins’ Collusion: How Central Bankers Rigged the WorldThe two books provide Americans with a comprehensive understanding of how the Justice Department, Federal regulators, a growing number of Federal judges and the central bank of the United States known as the Federal Reserve have been corrupted by corporate influence. To a large degree, they now serve their corporate masters, not the American people.

GOLD AND SILVER DEPOSITORS IN GERMANY AND SWITZERLAND CANNOT RETRIEVE THEIR GOLD

by Harvey Organ, Harvey Organ Blog:

REASON IT IS UNALLOCATED AND THAT GOLD/SILVER IS GONE (ANDREW MAGUIRE)/GOLD DOWN $2.45 TO $1254.80/SILVER DOWN 2 CENTS TO $16.04/TRADE WARS COMMENCE BETWEEN THE USA AND CHINA AND USA AND RUSSIA/JOBS REPORT ALTHOUGH HIGHER DISAPPOINTS DUE TO LOWER HOURLY EARNINGS/DOJ RELEASES SOME DAMAGING EMAILS WHICH SEEMS PRIMA FACIE

UNREAL: Watch Liberals Protest ICE As The Agency Breaks Up A Child Sex-Trafficking Ring

by Amanda Prestigiacomo, Daily Wire:

As Democratic politicians’ calls for the abolition of U.S. Immigration and Customs Enforcement (ICE) grow intensely loud, a video of liberals protesting the agency as they break up a child sex-trafficking ring has resurfaced online.

CBS San Francisco reported in August of 2017 that federal agents served a search warrant on a Guatemalan immigrant family home in Oakland in connection with an ​investigation concerning the sex trafficking of juveniles. The human trafficking operation was later confirmed by authorities.

SOCIALIST DARLING ALEXANDRIA OCASIO-CORTEZ CALLED FOR TAX CUTS WHEN SHE WAS RUNNING A BUSINESS, NOW WANTS TO RAISE TAXES TO FUND HER RADICAL AGENDA

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by Andrew Kerr, The Daily Caller:

Alexandria Ocasio-Cortez, the upstart Democratic Socialist who shocked the political world in the June primary when she defeated 10-term incumbent Rep. Joseph Crowley of New York, once advocated for tax cuts when she was running a business of her own, uncovered news reports from 2012 reveal.

Ocasio-Cortez, 28, is a dues-paying member of the Democratic Socialists of America (DSA), an organization that calls for the abolishment of capitalism and argues that “private corporate property is not only wrong, but also nonsensical.” Her campaign platform calls for instituting a single-payer health care system, a federal jobs guarantee and housing as a human right, radical and expensive policies she says will be funded through raising taxes on corporations and high-income Americans.

Border Patrol Separates Mother From Her Child After She’s Caught Smuggling $158k Of Meth

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by Chris Menahan, Information Liberation:

US Border Patrol had the audacity to separate another mother from her 2-year-old child merely for smuggling $157,500 worth of meth with her infant in the backseat of her car!

This is a travesty of justice and unbelievably cruel!

CRISPR-CANCER LINK SUSPECTED

by Joseph P. Farrell, Giza Death Star:

Yesterday, you’ll recall, I blogged about an article by our friend and colleague Jon Rappoport, who has raised the alarm about the latest vaccine gimick coming down the pike, the “universal flu vaccine” whose potency relies upon reprogramming a recipient’s DNA as a means of fighting all types of flu. As Rappoport indicated, this technology is being touted without any sort of long-term inter-generational science which could indicate potential problems with the technology.