Monday, January 17, 2022

China, Russia Call on U.S. To Conduct Diplomacy, Not Threats, over North Korea; LaRouche Stresses, U.S. Holds the Key

from LaRouche PAC:

The United Nations Security Council yesterday issued a statement of condemnation of the latest missile firing by North Korea. Since then, a number of spokesmen for China and Russia, calling for a response of calm, have specifically spoken out that the United States should stop threatening North Korea, and resume diplomacy. In fact, Russia’s Ambassador to the U.N. Vasily Nebenzya, underscoring the need for negotiations, proposed yesterday the possibility for UN Secretary General Antonio Guterres playing a mediating role with North Korea and other nations. This should be considered, Nebenzya said.

Lyndon LaRouche, briefed on these statements, concurs that, the U.S. holds the key to the North Korean situation. He said that this view is on the mark, and reiterated that the problem can be solved only through dialogue and political means. The proposal about Guterres is sound, he said.

Amb. Nebenzya stated that there is no way out of the North Korean crisis other than the political and diplomatic one. He made reference to the fact that the U.S. has called on Russia and China to comply with the new sanctions against North Korea under Resolution 2375, while likewise, Nebenzya called on the U.S. to implement the other part of the resolution, mandating political measures to resolve the crisis.”We said we are a responsible member of the international community and we fulfill the UN Security Council’s resolutions diligently, but this resolution also stipulates the political measures that also should be fulfilled,”Nebenzya said according to TASS.”That’s why we urged the Americans and other partners to fulfill the political and diplomatic decisions the resolution spelled out.”Further, he said that,”We’ll consider their non-fulfillment as non-compliance or insufficient compliance with the resolution.”

China’s Ambassador to the United States Cui Tiankai has also spoken out. He said the U.S. should stop threatening North Korea and begin negotiations.”They [the US] should refrain from issuing more threats. They should do more to find effective ways to resume dialogue and negotiation.”He said this to reporters in Washington, D.C. yesterday, according to today’s Guardian.“Honestly, I think the United States should be doing much more than now, so that there’s real effective international cooperation on this issue.”

In Beijing, a Chinese Foreign Ministry spokeswoman said China opposed the D.P.R.K.’s missile launch, but also urged the U.S. to change its tactics towards Pyongyang.”China is not to blame for the escalation of tensions. China does not hold the key to resolving the Korean Peninsula nuclear issue, either. Those who tied the knots are responsible for untying [them].”

On the U.S. side, National Security Advisor H.R. McMaster said:”We have been kicking the can down the road and we’re out of road. For those who have been commenting about the lack of a military option, there is a military option. Now, it’s not what we prefer to do, so what we have to do is call on all nations to do everything we can to address this global problem, short of war.”

Read More @ LaRouchePAC.com

Recorded: “Moderate” Muslim Preacher to Children: Martyrdom is Better than Success at School

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by Onan Coca, Freedom Outpost:

As if you needed more evidence that there was no such thing as “moderate” Islam, along comes proof that Islam is just different degrees of extremism.

A so-called moderate mosque in England is under fire after an undercover police officer recorded their imam encouraging his parishioners and their children to join ISIS.

Kamran Sabir Hussain, 40, was recorded on 17 different occasions delivering sermons wherein he encouraged the people listening to join ISIS and embrace martyrdom.

From the Daily Mail:

On September 2 last year, he allegedly told nine children and 35 adults that martyrdom was the ‘supreme success’, greater than any other such as school or college.

Those who died ‘fighting for Allah’ had nothing to fear because they would be forgiven, he is claimed to have said. They would be martyrs in paradise hated by no one except ‘unbelievers’ and hypocrites.

In front of a congregation of ten to 15 children under the age of 15 and about 25 adults on August 19 last year, Hussain allegedly said the Government funded groups such as the English Defence League and Britain First to insult Muslims, attack them and put them down.

‘The kuffar [unbelievers] will attack you and kill you,’ he added. ‘Stand up and be ready to sacrifice, be ready to stand in the face of the elements of shaytan [satan], be ready to spill blood and have your blood spilt’…

‘Some of the sermons, however, strayed beyond mainstream moderate Islamic thought and moved into support and encouragement to those carrying out acts of terrorism.’

The court heard that in March last year Hussain posted a ‘chilling message’ on social media in which he said the ‘Khilafah’ – a reference to IS – was ‘knocking on your door and the fulfilment of Allah’s command is near and if you don’t like it and are enraged by it, then our message to you is simple: “Die in your rage.’’’

In another post, he wrote that Islam ‘is the light of Allah, pre-destined to eliminate the darkness of kufr’ [non-believers]…

The sermon echoed a recording made at a demonstration in which someone was heard saying: ‘Inshallah [God willing], we will see the black flag of Islam over Big Ben and Downing Street’.

The preacher has been arrested and now faces two charges of encouraging support for ISIS and six counts of encouraging others to commit acts of terrorism.

While the imam is not known to have committed acts of violence against non-Muslims, the fact is he can be heard encouraging the people in his mosque to embrace terror and violence as a tool in the battle against the infidels (that’s us folks).

Even worse, and something that the Daily Mail article does not discuss, is the fact that the imam was preaching this filth on a regular basis and the people in his congregation said nothing, did nothing to stop him.

The undercover officer recorded 17 different sermons where the imam could be heard exhorting his people to engage in violence against the nonbelievers.

Read More @ FreedomOutpost.com

UNDER STRESS

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from Stefan Molyneux:

Operation Freedom – Sunday, September 17, 2017 – Rob Kirby, Catherine Austin Fitts and Turd Ferguson

by Dave Janda, Dave Janda:

Topics Discussed: Technocracy, Globalist Syndicate, Counter-terrorism, Domestic terrorists, Trump Care, ObamaCare, Manipulation of financial markets, Benghazi, New World Order Syndicate, Obama Care, Free Market Health Reform, Putin, The Ukraine, ISIS, Syria, The Constitution, Natural resources, Reserve currency, Corruption, gold, silver, Global Elite, International Banking Cabal, debt, Federal Reserve, Too Big To Fail Banks, Crony Capitalism, Debt Ceiling, Financial implosion, Recession, Economic Depression, Freedom, Liberty

Click HERE to listen to Rob Kirby

Click HERE to listen to Catherine Austin Fitts

Click HERE to listen to Turd Ferguson

Read More @ DaveJanda.com

Are you THRIVING or SURVIVING? Science reveals your mindset is key

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by Michelle Simmons, Natural News:

A new study revealed that the key to thriving, rather than just surviving, could be as simple as feeling good about life and yourself, and being good at something, according to a report by the Science Daily.

Daniel Brown, a sport and exercise scientist at the University of Portsmouth, studied all the research on what makes people thrive, from studies of babies and teenagers, to studies of artists, athletes, employees, and the elderly. He found a common denominator.

“Thriving is a word most people would be glad to hear themselves described as, but which science hasn’t really managed to consistently classify and describe until now,” he said.

Brown added that it appeared to come down to an individual experiencing a sense of development, of getting better at something, and succeeding at mastering something.

“In the simplest terms, what underpins it is feeling good about life and yourself and being good at something,” he said.

The study established that though thriving is similar to resilience, prospering, or growth, it stands alone.

“Since the end of the 20th century, there has been a quest in science to better understand human fulfillment and thriving, there’s been a shift towards wanting to understand how humans can function as highly as possible,” Brown elaborated.

Thriving had been examined at different stages of human life and had been described as vitality, learning, mental toughness, focus, or combinations of these and other qualities. In addition, it had been examined in different situations, including in the military, in health, and in child development.

He said that part of the reason for a lack of consensus is that the research so far has been narrowly focused.

“Some have studied what makes babies thrive, others have examined what makes some employees thrive and others not, and so on. By setting out a clear definition, I hope this helps set a course for future research,” Brown said.

The study, published in European Psychologist, included six recommendations for future research, such as the need for close examination of what enables thriving, and whether thriving has any lasting or cumulative effect on individuals.

In another study reported by the Science Daily, it was discovered that listening to happy music may help generate more innovative solutions than listening to silence.

Although many studies had discovered what promotes creative cognition and had proven the benefits of music to cognition, there is not much research on how listening to music affects creative cognition specifically. (Related: Music Shown to Facilitate the Development of Neurons in the Brain.)

The authors examined the effect of music on creative cognition on 155 participants who completed questionnaires and were split into experimental groups. Each group listened to one of four different types of music that were categorized as calm, happy, sad, or anxious, depending on their emotional valence and arousal. On the other hand, one controlled group listened to silence.

After the music played, the participants did various cognitive tasks that tested their divergent and convergent creative thinking.

The study, published in PLOS ONE, found that listening to happy music facilitated more divergent creative thinking compared to silence. Happy music was described as classical music that is positive valence and high in arousal.

The researchers suggested that the variables involved in the happy music condition may enhance flexibility in thinking and future research could explore how different ambient sounds might affect creativity and include participants of different cultures, ages, and levels of music experience.

Read More @ NaturalNews.com

Gold Demand within the Chinese Gold Market

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from BullionStar, via Goldseek:

In China, nearly all physical gold supply flows through the Shanghai Gold Exchange (SGE). Likewise, nearly all gold demand in China is met by physical gold withdrawals from the Shanghai Gold Exchange’s nationwide network of precious metals storage vaults.

Therefore, using the broadest definition of gold demand, SGE gold withdrawals are a suitable proxy for overall gold demand in China. This gold demand can be labelled as “Chinese Wholesale Gold Demand” and comprises two main categories, namely, consumer gold demand and institutional gold demand. Consumer gold demand generally refers to gold jewellery fabrication demand, retail physical gold bar and coin demand, and in some cases also includes industrial fabrication demand. Institutional demand can be viewed as individual and institutional investor purchases of gold bullion directly on the SGE trading bourse, and withdrawal of this gold from the SGE vaults.

SGE gold withdrawals for 2016 totalled 1970 tonnes. Although this was 24{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} lower than 2015’s record 2596 tonnes of SGE gold withdrawals, it was still in line with 2014’s total of 2102 tonnes of gold withdrawals[1].

Contents

Highlights

  • The vast majority of overall gold demand in China is met by gold withdrawals from the Shanghai Gold Exchange (SGE).

  • This ‘Wholesale’ gold demand consists of 2 main components, namely consumer gold demand and institutional gold demand.

  • Institutional gold demand is a term used to reflect direct purchases of physical gold on the SGE by both institutions and individuals with SGE trading accounts.

  • Western precious metals consultancies are infamous for only reporting consumer gold demand (gold jewellery fabrication, gold bar and coin demand, and industrial gold demand), and by and large ignoring direct purchases of gold on the SGE.

  • Western precious metals consultancies therefore vastly understate the true magnitude of gold demand in China, which, based on SGE gold withdrawals, is far larger than the consumer demand figures would suggest.

Chinese Wholesale Gold Demand

Controversially, a number of Western precious metals consultancies, such as  the World Gold Council, limit their definitions of Chinese gold demand solely to consumer gold demand[2].

For example, for 2016, the World Gold Council (which uses gold demand data collected by consultancy Metals Focus) reported Chinese gold demand of 913.6 tonnes, comprising jewellery demand of 629 tonnes, and gold bar and coin demand of 284.6 tonnes. This total is less than half of total SGE gold withdrawals for 2016.

SGE Gold Withdrawal components, an illustrative example

What these consultancies methodologies fail to take into account, however, is that direct purchases of gold by institutions and individuals with trading accounts on the Shanghai Gold Exchange represent a substantial additional component of overall Chinese gold demand above and beyond consumer gold demand.

BullionStar Gold University article “Mechanics of the Chinese Domestic Gold Market” illustrates that a series of simple equations generally hold true for gold supply and demand in the Chinese gold market[3], and that any comprehensive definition of true Chinese gold demand must take into account both consumer gold demand and direct purchases of gold at the SGE.

Specifically:

SGE Physical Gold Supply = SGE Gold Withdrawals = Chinese Wholesale Gold Demand

On the Supply side:

SGE Physical Gold Supply = Gold Imports + Domestic mine gold supply + Gold Scrap / Recycling + Disinvestment + Recycled Distortion

Here, disinvestment refers to the sale of gold which was previously purchased directly for investment. Recycled distortion is a term that refers to recycled gold that is not scrap and that is not disinvestment. An example would be process scrap. Recycled distortion flowing through the SGE vaults overstates both the supply and demand sides of the equation, and needs to be subtracted from SGE withdrawals since it could be scrap that re-entered the supply chain.

When Recycled distortion is subtracted from SGE withdrawals, the result can be viewed as ‘True Chinese gold demand’.

On the Demand side:

Chinese Wholesale Gold Demand = Consumer Demand + Institutional Demand + Recycled Distortion

where Institutional Demand = Direct Gold Purchases At The SGE

SGE Gold Withdrawals – Recycled Distortion = “True Chinese gold demand”

and “True Chinese Gold Demand” = Consumer Demand + Institutional Demand

As a reminder, standard gold ingots and bars are VAT exempt when sold on the SGE but not when sold outside the SGE (off SGE). In contrast, non-standard gold is VAT exempt when sold outside the SGE, and non-standard gold cannot be traded on the SGE.

Standard gold refers to gold ingots of 1 kg, 3 kg (both 999.9 fine), and 12.5 kg  (995 fine) weights, and also gold bars of 0.1 kg and 0.05 kg (both of which 999.9 fine). An example of non-standard gold would be a 0.2 kg (200 gram) gold bar.

Direct Gold Purchases at the SGE

Given that ‘True Chinese Gold Demand’ comprises both consumer demand and institutional demand, it’s important to look beyond the consumer demand categories of gold jewellery fabrication, gold bar and gold coin demand and industrial fabrication, and to also examine the ‘institutional demand’ category, i.e. a category which really refers both individual and institutional direct purchases of gold on the SGE.

Read More @ Goldseek.com

Holy Moly, Now Wells Fargo Recommends a Credit Freeze in Equifax Hack

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by Wolf Richter Wolf Street:

Third largest US bank reaches out to its customers. A mass credit freeze would have a huge impact.

No one knows yet how the Equifax hack – during which Social Security numbers, birth dates, addresses and, “in some instances,” driver’s license numbers of 143 million consumers had been stolen – will wash out for Equifax, or for the other credit bureaus.

But it increasingly looks like a far bigger and broader mess not only for the credit bureaus but for the overall consumer-based US economy whose grease is easy and often instant consumer credit.

People are trying to put a credit freeze on their data at the three major credit bureaus to protect themselves from identity theft. Victims of identity theft get caught in years of a Kafkaesque nightmare where debt collectors hound them for debts incurred in their name by someone else.

A credit freeze is the best protection against identity theft. It has now been recommended by State Attorneys General, the US Government, the biggest mainstream media outlets, and numerous other outfits including from the first moment on – the evening of September 7 when the hack was disclosed – my humble site. In over 400 comments on my three articles (herehere, and here), readers have shared tips and frustrating experiences trying to deal with overloaded websites that crashed, sent people in wrong directions, or failed in other ways to produce results.

The credit bureaus claim that they have staffed up their call centers, beefed up their websites, etc. etc. But it’s still a mess. And it has been going on for ten days!

So we know there is a surge of consumers trying to protect themselves by putting a credit freeze on their data at the three major credit bureaus. But only the credit bureaus know the actual number. And they keep it close to their vest.

Now even Well Fargo, the third largest bank in the US by assets, posted an “Equifax Alert” on its customer login-page. This is the page millions of customers see when they log into their accounts.

“Here’s what you should know about the recent data compromise,” it says. The link take you to a Wells Fargo page that makes four standard and very sound recommendations on how to deal with the Equifax data hack – including the single most important: “Consider placing a freeze on your credit.”

It encourages its customers to “visit the Federal Trade Commission’s (FTC) dedicated Credit Freeze FAQs.” And it links to it.

When a bank encourages its customers to get a credit freeze and refers them to a federal government website that shows how to go about doing it, people take notice. Other banks may already have posted similar information to encourage their customers to protect themselves, or may soon do so.

This is huge because banks are reaching people who are not paying attention to the news – people who would normally miss the entire debacle. It makes many more millions of people aware of what to do.

And if enough people follow through, it will alter the way an easy-credit dependent consumer economy operates. Here are some of the potential impacts:

Revenues of credit bureaus take a licking. A credit freeze prevents them from selling your data to other companies with which you don’t already have an established credit relationship.

Companies use enhanced “risk modeling” to bypass credit bureaus. A mass credit freeze makes it tough for companies – such as banks, utilities, auto lenders, and credit card companies – to set up new accounts. So they will try to find other ways to confirm the credit worthiness of applicants, bypassing the credit bureaus. Ford Credit already announced enhanced “risk modeling” prior to the Equifax disclosure. These efforts will strengthen.

Read More @ WolfStreet.com

The Equifax Hack Is The Most Disastrous Data Breach In History Because Now Hackers Have The Credit Information Of 143 Million Americans

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by Michael Snyder, The Economic Collapse Blog:

Talk about a nightmare.  It is being reported that criminals were able to hack into Equifax and make off with the credit information of 143 million Americans.  We are talking about names, Social Security numbers, dates of birth, home addresses and even driver’s license numbers.  If this data breach was an earthquake, we would be talking about a magnitude-10.0 on the identity theft scale.  We have never seen anything like this before, and to say that this will be “disastrous” for the credit industry would be a massive understatement.

What really disturbed me about this story is that this hack reportedly occurred between “mid-May and July of this year”

Credit monitoring company Equifax has been hit by a high-tech heist that exposed the Social Security numbers and other sensitive information about 143 million Americans. Now the unwitting victims have to worry about the threat of having their identities stolen.

The Atlanta-based company, one of three major U.S. credit bureaus, said Thursday that “criminals” exploited a U.S. website application to access files between mid-May and July of this year.

So why didn’t we learn about this until September?

Somebody out there really needs to answer that question for us.

And even though the “143 million” number is being thrown around constantly, according to USA Today we may never know the true number of victims…

When asked if there’s a way to quantify how many people have been harmed, John Ulzheimer, a credit expert and former employee at Equifax and credit score firm FICO, said: “There’s no way to know, and there may never be a way to know.”

Personally, I don’t see how Equifax can possibly survive after this.  Their stock price is already crashing, and now it has come out that they had put a “music major” in charge of data security…

When Congress hauls in Equifax CEO Richard Smith to grill him, it can start by asking why he put someone with degrees in music in charge of the company’s data security.

And then they might also ask him if anyone at the company has been involved in efforts to cover up Susan Mauldin’s lack of educational qualifications since the data breach became public.

It would be fascinating to hear Smith try to explain both of those extraordinary items.

Also, we are now finding out that Equifax has not just had security problems here in the United States.

According to the New York Post, data breaches have been taking place all over the globe…

Hackers had access to the names, dates of birth and e-mail addresses of nearly 400,000 people in the United Kingdom, said Equifax’s British subsidiary in a statement last week.

In Canada, sensitive data belonging to 10,000 consumers may have been hacked in the breach, said a statement from the Canadian Automobile Association.

In Argentina, one of the company’s portals was so easily accessible that it allowed quick exposure to the personal information of more than 14,000 people.

As noted above, the public didn’t learn about any of this until September.

But once top Equifax officials learned what had happened, some of them started dumping their shares of Equifax very rapidly

Three Equifax executives — not the ones who are departing — sold shares worth a combined $1.8 million just a few days after the company discovered the breach, according to documents filed with securities regulators.

Equifax shares have lost a third of their value since it announced the breach.

Needless to say, the SEC is going to be looking into this very closely.

As we move forward, there is a tremendous amount of concern as to how much this data breach will affect the U.S. economy.

Only time will tell, but without a doubt it will have an impact.  For example, according to Bloomberg this data breach could potentially have an absolutely disastrous impact on store-branded credit cards…

Equifax Inc.’s massive data breach could make an already tough market outlook even more daunting for the firms behind Gap Inc.’s and Ann Taylor’s store-branded credit cards.

Those retailers’ banking partners, including Synchrony Financial and Alliance Data Systems Corp., could see fewer account originations as more consumers freeze their credit to avoid hack-related fraud. Consumers have to take extra steps — including calling the credit bureau, going online or paying fees — to lift a block and get a new card.

“If people are defaulting to credit freezes, then if you’re a Macy’s retailer trying to sell credit cards, you can’t get that done at the point of sale,” said Vincent Caintic, an analyst at Stephens Inc. “It could become a regular thing, these freezes. It does slow down the origination process and it’s probably going to increase acquisition costs.”

If you believe that your data may have been compromised in this breach, there are some things that you can do right away to help protect against identity theft.  You can sign up for 24 hour a day credit monitoring, you can request fraud alerts, you can enable “two factor authentication” and beyond all of that you could go as far as to freeze your credit.

But if everybody in America suddenly started freezing their credit, that would slow down economic activity dramatically.  So needless to say authorities are hoping that does not happen.

Read More @ TheEconomicCollapseBlog.com

“Butterfly Effect” or How Travis Scott Got Recruited by the Industry

from Vigilant Citizen:

Behind the psychedelic visuals of Travis Scott’s video Butterfly Effect is a hidden message, told through symbolism: Travis Scott’s introduction to the elite’s entertainment industry and the Monarch mind control system.

Travis Scott is a rapper and producer who began his career behind the scenes, collaborating with the likes of Kanye West, Jay-Z, and Madonna. He then launched his solo career and, with the hit song Antidote, Scott found commercial success. Soon, he was propelled to the forefront of the rap game. After the release of his second album, Birds in the Trap Sing McKnight, Scott cemented his trademark sound and got a taste of superstardom. Shortly after, things started to become … symbolic.

While Scott is sometimes criticized for “rapping about nothing”, a clear theme has emerged from his latest works: Monarch programming. (If you don’t know what that is, please read this article first).

Indeed, it appears that Scott has been recruited to promote the elite’s MK symbolism to his hordes of young fans. When a new artist shows talent, charisma and star potential, it doesn’t take long before they get recruited by the elite. Afterwards, their work becomes “tainted” with their agenda. Hence, Butterfly Effect.

If you need immediate proof, this screenshot taken from the video sums everything up in a single, powerful image:

 Travis spits out butterflies after he gets hit by lightning (representing electroshock therapy).
Travis spits out butterflies after he gets hit by lightning (representing electroshock therapy).

Before I go further into the meaning of Butterfly Effect, let’s look at some of the things Travis has been associated with in the past months. They illustrate that the symbolism of Butterfly Effect is not simply about aesthetics, but about Travis Scott being used by the occult elite to promote its Monarch system.

Travis Scott in SZA’s “Love Galore”

Shortly before the release of Butterfly Effect, Travis Scott appeared in SZA’s video Love Galore. The song is apparently about SZA regretting getting back with an ex-boyfriend (played by Scott). However, the symbolism of the video takes things to another, darker level.

SZA then goes to the window and looks outside, towards someone waiting in a car.

Read More @ VigilantCitizen.com

Ron Paul: Here’s The Truth About The War Between The Alt Right And Cultural Marxists

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from Zero Hedge:

Despite recently being demonetized by YouTube, possibly for his anti-establishment views and slamming President Trump’s decision to increase troop levels in Afghanistan, former Texas Congressman Ron Paul is back with a video addressing the widening left-right political divide in the US – and the role that the “immoral use” of government force has played in fomenting the US’s present political crisis.

Claiming that the US is “witnessing a battle between authoritarian groups in America”, the prominent libertarian and former politician says that the “Alt-Right” and Cultural Marxists are fighting to control a government that is bankrupt, doesn’t follow the Constitution, and controls a foreign empire that is running on fumes.  Ron Paul describes our dilemma.

“Most Americans agree the violent confrontation between the alt-right and the cultural Marxist is serious, dangerous and getting worse. Understanding economics, cultural differences and the acceptance of authoritarianism is required to find the answer to the crisis.

 

Rejecting a society based on personal liberty led to the conflict we are now witnessing: replacing authoritarianism with volunteerism must be our goal. The immoral use of government force caused this crisis and expanding it will only increase the hatred between the two sides.

 

Though there are leaders on both sides promoting violence, large numbers are attracted to the raging culture war for emotional reasons in response to the lies and the incitement by those whose ulterior motive is seeking power, wealth and promoting a dangerous new world order.”

The biggest problem that Paul sees is that neither the left or the right have made liberty – both economic and political – a priority. In fact, just the opposite is happening. Both the left and the right are moving in a more authoritarian direction.

Meanwhile, the left’s penchant for labeling all of their ideological opponents as Nazis and racists is helping to sow chaos and division, Paul says.

“One side has been labeled the alt-right, the other cultural Marxism. The right would like to reduce the debate to the differences between Communism and a populist government that emphasizes caring for Americans over foreigners. The Left would have us believe it’s merely a conflict with supporters of racism and injustice and cultural Marxism. Neither side speaks of Liberty. The alt-right is made up of conservatives, populists, and pro white enthusiasts, but all are labeled Nazis and fascists by the left.”

“Some are just fed up with the false charges and the penalties toward whites by leftist racists and the extremism of political correctness. The vicious labeling of all those who are frustrated and who join with those who are angry as Nazis and racist is only for the purpose of creating chaos. The left demands that all Trump supporters fit into this category. This is the strategy for fomenting race riots and civil war. No doubt Trump makes himself vulnerable to these inaccurate and wild charges by his enemies. The left promotes cultural Marxism and class warfare yet there are fellow travelers who represent typical liberal activists progressives and white haters. Many on the Left generally despise any minority who chooses to be a conservative or libertarian.”

Leftists, Paul says, are far more cynical than their idealistic proclamations would suggest. White leftists only see minorities as important within the context of their votes, and are quick to treat minorities who identify as conservative or libertarian as traitors to the cause. Meanwhile, neither side understands how liberty leads to economic prosperity for the largest number of citizens.

“Too many on the left see minorities as only important when their votes can be corralled. From their viewpoint as minorities, well-being success must come only from benefiting from doctrines promoted by forced wealth redistribution by the liberal left it’s all about control it’s cynical racism.”

“The philosophic issues that divide us are what matters. Both sides accept the principle of government aggression as a proper tool of government. Neither side understands how true freedom leads to the prosperity that both sides pay lip service to. Neither side understands the shortcomings of deceptive, short-lived prosperity that comes with government deficits and monetary inflation which always ends badly, especially for the people who are supposed to be benefiting by government welfare spending. The ending of such a period of artificial wealth is now apparent and since it’s not understood by either side of the current raging conflict, both are proposing different government solutions with sharp disagreements in the blame game.”

 

Both the left and the right claim to be the torchbearers of the American experiment. But neither side cares about what the Constitution says, Paul said. Furthermore, both sides banded together to support the Bush doctrine, a willingness to countenance foreign interventionism that persists across the modern political spectrum. Leftists and conservatives take advantage of superficial differences to divide people – the left via identity politics and the right via their racist views.  

“Both sides claim patriotic loyalty and ownership of the American tradition. Neither group cares about what the Constitution says both sides support America’s world Empire its militarism the military industrial complex and horribly dangerous Bush doctrine of pre-emptive war. Neither side condemns our aggression or foreign interventionism. There is extensive support by both for economic planning by government though in different degrees and for different purposes.”

This means no complaints about protectionism, Federal Reserve power or subsidies to the special interest groups. For our bipartisan leaders, it is only who gets to distribute the loot that matters. Identity politics has taken over in forming alliances. This encourages lying, race preferences demagoguery and inciting hatred since the concept of Liberty is something that applies to individuals rather than special interest groups it is therefore rejected.”

Liberty is not something that can be distributed according to the various groups that claim victimization and a right to other people’s earnings. The tool used especially by the far left is extreme political correctness that regulates speech by claiming hateful motivation by anyone with whom they disagree. These charges are inevitably spread with a broad brush by a complicit media advocating both types of authoritarianism. Left and right purposely divide people by natural and acceptable differences. Pursuing the cause of Liberty unites all those who honestly seek peace and prosperity in distinction from those who resort to authoritarianism. Divisiveness will cause both sides to fail with their half-hearted efforts to force an escalation of violence and the destruction of the middle class.”

Unfortunately, neither the left or the right has expressed concern with the “deeply flawed” US monetary system, Paul said. The Federal Reserve has been allowed to debase the US dollar through the complicity of both left- and right-leaning politicians. And now, as Paul notes, the bills are all coming due.

Neither side will face up to the economic reality of a deeply flawed economic system and the pending collapse of the American Empire. Sadly neither side complains about the danger of the Bush Doctrine of preemptive strikes and decisions being made to go to war without congressional approval, the dependency on deficit spending, and the monetary mischief of the Fed. The bills are now coming due and the political chatter associated with the current social strife serves to distract from the philosophical impurities from which we have been infected for many decades. The number of enemies that we have generated by our foreign policy is ignored and the problem made worse by our economic and military meddling around the world our inability to pay our bills and meet our unfunded liabilities will be the limiting factor.”

In short, the US’s economic and military meddling around the world have led to a reliance on unsustainable deficit spending. This, Paul contends, is the greatest threat facing American society – and neither side is talking about a solution.

 

Read More @ ZeroHedge.com

Pension Storm Warning

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by John Mauldin, Mauldin Economics:

This time is different are the four most dangerous words any economist or money manager can utter. We learn new things and invent new technologies. Players come and go. But in the big picture, this time is usually not fundamentally different, because fallible humans are still in charge. (Ken Rogoff and Carmen Reinhart wrote an important book called This Time Is Different on the 260-odd times that governments have defaulted on their debts; and on each occasion, up until the moment of collapse, investors kept telling themselves “This time is different.” It never was.)

Nevertheless, I uttered those four words in last week’s letter. I stand by them, too. In the next 20 years, we’re going to see changes that humanity has never seen before, and in some cases never even imagined, and we’re going to have to change. I truly believe this. We have unleashed economic and technological forces we can observe but not entirely control.

I will defend this bold claim at greater length in my forthcoming book, The Age of Transformation.

Today we will zero in on one of those forces, which last week I called “the bubble in government promises,” which I think is arguably the biggest bubble in human history. Elected officials at all levels have promised workers they will receive pension benefits without taking the hard steps necessary to deliver on those promises. This situation will end badly and hurt many people. Unfortunately, massive snafus like this rarely hurt the politicians who made those overly optimistic promises, often years ago.

Earlier this year I called the pension mess “The Crisis We Can’t Muddle Through.” Reflecting since then, I think I was too optimistic. Simply waiting for the floodwaters to drop down to muddle-through depth won’t be enough. We face an entire new ocean, deeper and wider than we can ever cross unaided.

Storms from Nowhere?

This year marks the first time on record that two Category 4 hurricanes have struck the US mainland in the same year. Worse, Harvey and Irma landed directly on some of our most valuable and vulnerable coastal areas. So now, in addition to all the problems that existed a month ago, the US economy has to absorb cleanup and rebuilding costs for large parts of Texas and Florida, as well as our Puerto Rico and US Virgin Islands territories.

Now then, people who live in coastal areas know full well that hurricanes happen – they know the risk, just not which hurricane season might launch a devastating storm in their direction. In a note to me about Harvey, fellow Rice University graduate Gary Haubold (1980) noted just how flawed the city’s assumptions actually were regarding what constitutes adequate preparedness. He cited this excerpt from a recent Los Angeles Times article:

 

The storm was unprecedented, but the city has been deceiving itself for decades about its vulnerability to flooding, said Robert Bea, a member of the National Academy of Engineering and UC Berkeley emeritus civil engineering professor who has studied hurricane risks along the Gulf Coast.

The city’s flood system is supposed to protect the public from a 100-year storm, but Bea calls that “a 100-year lie” because it is based on a rainfall total of 13 inches in 24 hours.

“That has happened more than eight times in the last 27 years,” Bea said. “It is wrong on two counts. It isn’t accurate about the past risk and it doesn’t reflect what will happen in the next 100 years.” (Source)

Anybody who lives in Houston can tell you that 13 inches in 24 hours is not all that unusual. But how do Robert Bea’s points apply to today’s topic, public pensions? Both pension plan shortfalls and hurricanes are known risks for which state and local governments must prepare. And in both instances, too much optimism and too little preparation ultimately have devastating results.

Admittedly, public pension liabilities don’t come out of nowhere the way hurricanes seem to – we know exactly where they will strike. In many cases, we know approximately when they’ll strike, too. Yet we still let our elected officials make impossible-to-fulfill promises on our behalf. The rest of us are not so different from those who built beach homes and didn’t buy hurricane or storm surge insurance. We just face a different kind of storm.

Worse, we let our government officials use predictions about future returns that are every bit as unrealistic as calling a 13-inch rain in Houston a 100-year event. And while some of us have called pension officials out, they just keep telling lies – and probably will until we reach the breaking point.

Puerto Rico is a good example. The Commonwealth was already in deep debt before Irma blew in – $123 billion worth of it. There’s simply no way the island can repay such a massive debt. Creditors can fight in the courts, but in the end you can’t squeeze money out of plantains or pineapples. Not enough money, anyway. Now add Irma damages, and the creditors have even less hope of recovering their principal, let alone interest.

Puerto Rico is presently in a new form of bankruptcy that Congress authorized last year. Court proceedings will probably drag on for years, but the final outcome isn’t in doubt. Creditors will get some scraps – at best perhaps $0.30 on the dollar, my sources say – and then move on. We’re going to find out how strong those credit insurance guarantees really are.

“That’s just Puerto Rico,” you may say if you’re a US citizen in one of the 50 states. Be very careful. Your state is probably not so much better off. In 10 years, your state may well be in the same place where Puerto Rico is now. I’d say the odds are better than even.

Are your elected leaders doing anything about this huge issue, or even talking about it? Probably not.

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