Wednesday, November 20, 2019

The Ramp Up to War on Iran is Here

by Tom Luongo, Tom Luongo:

John Bolton never met a war he didn’t like, except Vietnam. That would be the one he refused to fight in.

Today he is calling up every marker he has to create the narrative for a legal justification for an attack on Iran that Israeli Prime Minister Benjamin Netanyahu spilled the beans on just before the Warsaw Stink Fest last week.

This morning GOP House Organ the Washington Times produced this howler of an exclusive to say that al-Qaeda groups in Syria are getting Double Ultra Secret funding from, guess who?

Global sovereign debt to peak at $50,000,000,000,000 this year

from RT:

Ratings agency S&P Global said governments are continuing to run up huge debt levels and will borrow an equivalent of $7.78 trillion this year, which would be up 3.2 percent on 2018.

That will come as another jump in borrowing to take the global mountain of sovereign debt to $50 trillion in 2019.

REPORTS: Julian Assange Health Condition is Critical, ‘Slow Kill’ by British Authorities

from 21st Century Wire:

Never in the history of Britain has someone with no prior convictions been sentenced to incarceration in a maximum security facility for a ‘bail-skipping’ charge. Moreover, the bail-skipping violation was predicated on an investigation which had been previously dropped due to lack of compelling evidence. As a result of this unprecedented series of events, a journalist’s life is now in peril. 

New reports now indicate that due to his deteriorating physical condition, WikiLeaks founder Julian Assange has been moved to the medical wing of Britain’s super-max Belmarsh Prison.

PATRICK LAWRENCE: Hong Kong’s Inevitable Showdown

by Patrick Lawrence, Consortium News:

This reckoning with Beijing’s authority was baked into the cake 22 years ago when the Union Jack came down over Government House.

It is impossible not to admire the bravery and commitment pro-democracy demonstrators display daily as they clog Hong Kong streets, shut down its airport, and disrupt the territory’s beating heart in Central, the commercial and financial district. But neither can one deny the tragic fate that appears near as Beijing stiffens its resolve and signals the threat of military intervention.

The Best Way To Honor War Veterans Is To Stop Creating Them

by Caitlin Johnstone, via The Burning Platform:

The US are celebrating Veterans Day, and many a striped flag shall be waved. The social currency of esteem will be used to elevate those who have served in the US military, thereby ensuring future generations of recruits to be thrown into the gears of the globe-spanning war machine.

Veterans Day is not a holiday to honor the men and women who have dutifully protected their country. The youngest Americans who arguably defended their nation from a real threat to its shores are in their nineties, and soon there won’t be any of them left. Every single person who has served in the US military since the end of the second World War has protected nothing other than the agendas of global hegemony, resource control and war profiteering. They have not been fighting and dying for freedom and democracy, they have been fighting and dying for imperialism, Raytheon profit margins, and crude oil.

Why America’s Trade War With China Will Be Absolutely Crippling For The U.S. Economy

by Michael Snyder, The Economic Collapse Blog:

Can the global financial system handle a full-blown trade war between the two largest economies on the entire planet? We have never seen anything like this happen in the modern age, and this is creating a tremendous amount of uncertainty for the financial markets. Yes, something had to be done, and I have been writing about this for years. China has been stealing our intellectual property, manipulating currency rates and slapping high tariffs on American goods. We simply could not allow China to continue to take advantage of us, but now we are so dependent on the Chinese that a trade war with them is going to inevitably produce a great deal of pain. We are all going to wish that another way could have been found to resolve this crisis, because in the short-term this is definitely going to hurt the U.S. economy. And if President Trump chooses to press forward with trade wars against Europe, Canada and Mexico at the same time as well, the pain for our economy is going to be off the charts.

About That Oil For Gold-Backed Yuan Contract: Two Points EVERYBODY Has Missed

from SilverDoctors:

Two and a half points really, and it’s more like everybody plus one who misses these simple points…

The first point (and a half) is a counter to this statement which everybody accepts as doctrine:

Anybody can buy gold with dollars at any time – no gold backed oil contract needed.

I won’t name names. We’re all on the same side here, but for some reason this topic is more polarizing than it should be.

Let’s think about “anybody can buy gold with dollars now” for a moment.

Dollars come from the United States. The benchmark global gold price in dollars comes from the United States.

It makes sense that if a company/country is selling a crap-ton of barrels of oil for dollars, said company/country would be most efficient in purchasing their physical gold on the COMEX with those dollars.

It’s not like a company or country can walk into some local coin shop with $350,000,000 in U.S. dollars and scoop up a 259,259 Chinese Gold Pandas.

They need the COMEX.

Here’s the problem:

If the U.S. futures market price of paper gold is nothing more than a debt based fiat currency price for something that never actually gets delivered, but rather, gets cash settled with more debt based fiat currency, then the company/country that just sold their oil for dollars is not really able to just take those dollars and buy gold as the “matter-of-fact” statement claims.

Secondary note to the first point (this is the half point):

We see what happens to world leaders when they announce orbegin to sell their oil for something other than dollars.

Anybody who is not familiar with this, the answer is death of said leader and destruction/plundering of the country by the war machine.

There is a flip-side to the oil-for-gold proclamations that we are missing:

Say Oil producers Canada or Mexico, or pick some non-bedfellow countries that attract the war machine, such as Turkey, Syria, Iraq, or Venezuela, who all of the sudden decide, “We are selling our oil for dollars, but we will immediately take them and buy physical gold from the COMEX with all the proceeds.”

Are the neo-cons, the deep state, the ESF, the Fed, the gold cartel and the other nefarious players just going to sit by and say:

“sure dude, whatever floats your boat”.

Not a chance. Said groups will spring into action, most likely of the swift and violent type.

Back to the main first point:

While theoretically possible to just “take those dollars and buy gold”, in practice this does not happen.

Between the levered-up, fractionally reserved “paper gold” which the bullion banks can naked short with a supply of unlimited paper, what company/country is going to want to get a futures contract and jump into that firefight, with the full brunt of market manipulation and precious metals price suppression bearing down on them, and backed-up by the war machine when all else fails?

To say “anybody can buy gold now” with their dollars misses the point.

And that’s the point.

Theoretically I can build a vast array of underground cities connected by public transporton submarines, or I can build an office building 39,000 feet tall, with a rotating restaurant on top for a 360 degree view of the clouds, but in coming down to earth a bit, we all know that in both practice and for all intents and purposes, neither of those things are possible. Much less just converting massive oil revenues into physical delivery from the COMEX, which is probably the least possible of all the scenarios I just mentioned.

The second point is even simpler:

The bigger picture that everybody keeps missing has to do with one of the principle reasons that people will use an un-backed, debt based fiat currency:

Read More @ SilverDoctors.com

State of European Banks: The ECB View vs Reality

by Mish Shedlock, The Maven:

The ECB would like you to believe the European banking system is sound and banks are better regulated. They aren’t.

Ten years after Lehman there are numerous statements from bureaucrats, academics, media and others that banks are now better regulated, more solid and liquidity problems vanished.

Reader Lars from Norway Emailed this assessment today.

Keiser Report: Our Risk, Their Reward (E1398)

from RT:

In the second half, Max continues his interview with Michael Pento of PentoPort.com about the gold versus bitcoin markets, a possible digital Special Drawing Right and the ‘Drop Gold’ campaign working on Millennial buyers of ‘store of value.’