Thursday, August 13, 2020

The Consequence of War that Led to the German Hyperinflation

by Martin Armstrong, Armstrong Economics:

QUESTION: Everyone has a chart of the German DAX postwar. I have never seen a chart of the German stock market before the war. Do you have any?

HVS

ANSWER: Yes. However, you must understand that because the world was on a gold standard, the arbitrage volatility was reflected in the bond and share markets when the currency was fixed. This is why the German share market closed in August 1914, along with just about everyone else. Here is a chart that show the performance of the German share market during the hyperinflation period. We have the DAX also extended back in time. But don’t forget, the DAX is a total return index. If we plot just price, you will see that the German share market looks very much like France.

Bad Luck: Pope Francis Had Just Transferred All Records On Sex Abuse Scandal To Notre Dame For Safekeeping

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from The Babylon Bee:

PARIS—Well, seems there was a bit of bad luck in the Notre Dame fire last week. While most of the relics, artwork, and idols were saved, one thing didn’t survive: all the Catholic Church’s meticulous records on its ongoing sex abuse scandals.

Pope Francis had reportedly just transferred the files to Notre Dame for safekeeping just days before the fire broke out.

Keiser Report: ECB, tear down that wall! (E1374)

from RT:

In the second half, Max interviews Rick Ackerman of RickAckerman.com about deflation, interest rates, and the US dollar.

MORE STRANGENESS ABOUT THE NOTRE DAME FIRE

by Joseph P. Farrell, Giza Death Star:

We’re still not at the stage we can move the sad story of the burning of Notre Dame from the “You Tell Me” tab to the “Call it Conspiracy” tab, but just so the record is clear, I’m right on the cusp. Thus far, I’ve had all sorts of weird stories emailed to me, including one that claimed that a famous international theme park operator and movie-maker wanted to donate to the rebuilding fund. As far as I can tell, M. Macron’s idea of turning this into an “international effort” was serious, and as far as I am concerned, extremely dubious. Let us be very clear here: yes, Notre Dame is very much a French monument; kings and queens worshipped there,

Why Chinese Banks Are Running Out Of Dollars

from ZeroHedge:

Following the biggest quarterly credit injection in Chinese history, it is safe to say that China’s banks are flush with yuan loans. However, when it comes to dollar-denominated assets, it’s a different story entirely. As the WSJ points out, in the past few years, a funding problem has emerged for China’s biggest commercial banks, one which is largely outside of Beijing’s control: they’re running low on US dollars so critical to fund operations both domestically and abroad.

As shown in the chart below, the combined dollar liabilities at China’s four biggest commercial banks exceeded their dollar assets at the end of 2018, a sharp reversal from just a few years ago. Back in 2013, the four together had around $125 billion more dollar assets than liabilities, but now they owe more dollars to creditors and customers than are owed to them.

Social Security and Medicare — Still Going Broke

by Peter Schiff, Schiff Gold:

Last year, the Social Security and Medicare trustees warned that the programs are going broke. A year later — they’re still going broke.

Social Security will dip begin dipping into reserves in order to pay out benefits next year and those reserves will run dry in 2035, according to the annual Social Security and Medicare trustees report that was released Monday.

When reserves dry up, the system will no longer be able to pay full benefits.

Mike Pompeo reveals true motto of CIA: ‘We lied, we cheated, we stole’ (Video)

by Alex Christoforou, The Duran:

The Duran’s Alex Christoforou and Editor-in-Chief Alexander Mercouris take a look at a Texas A&M University speech, and subsequent interview, with US Secretary of State Mike Pompeo.

The former CIA Director admitted, ‘as an aside’ to the question asked, that the Intelligence agency he headed up before being appointed as the top US Diplomat had a motto “we lied, we cheated, we stole”…which, according to Pompeo, contained entire CIA training courses based on ‘lying, cheating and stealing.’

How The Mercers Plotted To Control American Discourse

by William Craddick, Disobedient Media:

Is populist nationalism in a slump or is it simply being set up to fail?

The rise and slow decline of Breitbart News has been a symptom of a larger phenomena where populism hit a rocky patch in 2018 after an explosion of growth two years prior. Many pundits and political thinkers have grappled with the ideological challenges that populism faces, but none have tackled a core weakness crippling the movement. Outlets such as Breitbart have, since the beginning of their rise in popularity, been infiltrated and controlled by parties known for funding both sides of the political aisle with the goal of creating a controlled opposition doomed to implode onto itself.

FBI Files REVEAL How Hitler Allegedly Lost His Moustache, Fled to Argentina

from Sputnik News:

While FBI sources identified the local officials who allegedly helped Hitler secure a shelter in Argentina, FBI officials investigating these claims reported a “lack of sufficient information to support the story”.

A declassified trove of heavily redacted documents belonging to the US Federal Bureau of Investigation has revealed that in 1945, the agency was tipped off about Nazi German leader Adolf Hitler allegedly escaping from the victorious Allied troops in a submarine and hiding in Argentina.