Money Flow Trading Method along with Risk Management

July 23, 2025

Trump Deploys Tactical Nukes To Britain Then Brands Europeans Orwellian
By: Sorcha Faal, and as reported to her Western Subscribers

A forewarning new Security Council (SC) report circulating in the Kremlin today first noting President Donald Trump deployed several B61-12 Thermonuclear Gravity Bombs to Britain for the first time since at least 2005, says in response to the deployment of these tactical nuclear weapons, top Kremlin spokesman Dmitry Peskov revealed: “Our relevant agencies are monitoring the developments in this area and are formulating tasks to ensure our security against the backdrop of what is happening”—a revelation quickly followed by the American State Department blasting out the stunning warning notice: “In Europe, thousands are being convicted for the crime of criticizing their own governments...This Orwellian message won't fool the United States...Censorship is not freedom”.

Among those knowing President Trump wouldn’t deploy tactical nukes to attack Russia, as a conflict between superpowers would involve multiple warhead nuclear armed intercontinental ballistic missiles, this report notes, is Foreign Minister Sergey Lavrov, who just observed: “I really hope that the reasonable approach that the Trump administration showed in this situation after it replaced the Biden administration, which spoke in unison with the unhinged Europeans, that this reasonable approach, which includes a willingness to dialogue and a willingness to listen and hear, will not go unnoticed by the Europeans”.

In 2015, this report continues, the unhinged Europeans that President Trump just branded “Orwellian” created the National Anti-Corruption Bureau (NABU) and Special Anti-Corruption Prosecutor's Office (SAPO) in Ukraine to stop corruption, which are independent from the Ukrainian government—corruption cases are investigated by NABU then turned over to SAPO for prosecution, such as Ukrainian Parliament Member Artem Dmytruk revealing this week that Dictator Zelensky and his officials have been stealing over $10 billion annually in Western aid.

Swiftly following the shocking revelation that Ukrainian officials are stealing billions in Western aid, this report details, yesterday it saw Dictator Zelensky signing a law illegally rushed through parliament to abolish the anti-corruption independent legal agencies NABU and SAPO—a shocking attack that was followed by Ukrainian articles appearing like ‘Point Of No Return’ — Ukraine’s Democracy Under Threat As New Bill Guts Anti-Corruption Efforts and Zelensky Just Betrayed Ukraine's Democracy — And Everyone Fighting For It.

For the first time since the Russia-Ukraine war started in 2022, this report notes, thousands of Ukrainians staged mass protests raging against Dictator Zelensky destroying their nation yesterday, with protesters in Kiev chanting: “Zelensky is the devil”.

Though it remains unknown if President Trump heard the rage of Ukrainians, this report concludes, he most certainly didn’t miss his top ally Congresswoman Marjorie Taylor Green proclaiming yesterday: “Huge protests erupt in Kyiv against Ukrainian President Zelensky as he is a dictator and refuses to make a peace deal and end the war...Good for the Ukrainian people!...Throw him out of office!...And America must STOP funding and sending weapons!!!”.
[Note: Some words and/or phrases appearing in quotes in this report are English language approximations of Russian words/phrases having no exact counterpart.]


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July 23, 2025 EU and US all rights reserved. Permission to use this report in its entirety is granted under the condition it is linked to its original source at WhatDoesItMean.Com. Freebase content licensed under CC-BY and GFDL.

[Note: Many governments and their intelligence services actively campaign against the information found in these reports so as not to alarm their citizens about the many catastrophic Earth changes and events to come, a stance that the Sisters of Sorcha Faal strongly disagree with in believing that it is every human being’s right to know the truth. Due to our mission’s conflicts with that of those governments, the responses of their ‘agents’ has been a longstanding misinformation/misdirection campaign designed to discredit us, and others like us, that is exampled in numerous places, including HERE.]

[Note: The WhatDoesItMean.com website was created for and donated to the Sisters of Sorcha Faal in 2003 by a small group of American computer experts led by the late global technology guru Wayne Green (1922-2013) to counter the propaganda being used by the West to promote their illegal 2003 invasion of Iraq.]

[Note: The word Kremlin (fortress inside a city) as used in this report refers to Russian citadels, including in Moscow, having cathedrals wherein female Schema monks (Orthodox nuns) reside, many of whom are devoted to the mission of the Sisters of Sorcha Faal.]

World Warned Imminent Black Swan Event Will Ignite The Unthinkable

Rebel Alliance Leader With “All Seeing Eye” Unleashed By Trump To Find Antichrist

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25 July 2025
American Brain Prize In War For Attention Meets Media Apocalypse
Hello Folks,
Late last evening, the Trump Administration approved the takeover of global media-entertainment behemoth Paramount Pictures by media-finance giant Skydance Media—the Trump Administration approved the deal after receiving assurances from Skydance that the new company would be committed to unbiased journalism and would not establish programs related to diversity, equity and inclusion—and Chairman Brendan Carr of the Federal Communications Commission declared: “Americans no longer trust the legacy national news media to report fully, accurately and fairly...It is time for a change...That is why I welcome Skydance’s commitment to make significant changes at the once storied CBS broadcast network”.
The Paramount Pictures owned CBS broadcast network, as most of you know, set off a leftist firestorm last week when it canceled “The Late Show With Stephen Colbert”—the radical leftist Stephen Colbert show has been losing $40 million a year, which explains the news: “Paramount's stock has dropped more than 60% in value over the past four years”—and is a takeover of Paramount by Skydance joined with the bleak revelation: “For the first time since Nielsen began tracking TV use by platform four years ago — and probably the first time ever, considering broadcast’s dominant place for much of television history — over-the-air networks accounted for less than 20 percent of viewing in June”.
In stark contrast to Paramount, the American multinational computer technology company Oracle Corporation is one of the richest and most powerful corporations in the world—Oracle Corporation co-founder and chairman Larry Ellison is the second wealthiest person in the world—his son David Ellison is the founder and CEO of Skydance Media—both Larry and David Ellison have long close ties to President Donald Trump—so the truth about the leftist outrage over this gargantuan media takeover is now known to you.


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As for what is being battled over in this titanic war between President Trump and the leftist mainstream propaganda media, the New York Times truthfully revealed: “The American brain is the prize in a war for attention online”—is a war met with the article “Inside The Media’s Traffic Apocalypse”, that revealed: “Traffic headwinds are not exactly a new problem for media companies, but it has only gotten worse...The problem started with Facebook pivoting away from the news in 2022, and has accelerated in recent months as Google makes seemingly corrosive changes to its search algorithm while rolling out the innovation that will one day replace traditional search results: AI summaries”—and is war about which the Wall Street Journal warned: “The digital explosion inevitably means smaller average audiences—and less shared experience”.


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In viewing the future to come as this titanic media war rages for the “American brain prize”, retired Philosophy Professor Ruel F. Pepa at the premier global Christian learning center Trinity University of Asia warningly observed: “Imagine a world where uncomfortable truths like inconvenient shards of reality that demand reflection, humility, and change are no longer met with curiosity or concern, but with ridicule and disdain...In this world, the bearers of truth are not welcomed as catalysts for progress, but targeted as enemies of the status quo”.
For over twenty years, the Dear Sisters have been met with ridicule and disdain and targeted as enemies for exposing uncomfortable truths that demand reflection and humility, which they provide to you daily.
If truth and facts are important to you, and I believe they are, please aid the Dear Sisters today by giving what you can so they can continue their mission.
Thank you for listening and aiding us in our hour of desperate need by going below and giving what you can, and as always, please feel free to write me at [email protected] with any comments/questions/suggestions, remembering to put ATTN: BRIAN in the subject line, or if requesting to be placed on the Sisters mailing list, put MAILING LIST in the subject line.
All the best folks,
Brian
Webmaster
Paris
Fr.

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July 27, 2025
FBI Leader “Shocked To Core” After Murder Contract On Ghislaine Maxwell Issued
By: Sorcha Faal, and as reported to her Western Subscribers


A beyond gobsmacking new Security Council (SC) report circulating in the Kremlin today first noting the Foreign Intelligence Service (SVR) informed the International Operations Division (IOD) at FBI Headquarters in Washington, D.C. yesterday that a murder contract was issued against Ghislaine Maxwell, the daughter of murdered Israeli “super spy” Robert Maxwell, who is currently imprisoned for crimes committed with suicided child sex slaver Jeffrey Epstein, says this murder contract information was received from Russian-Israeli mafia leader Michael Tansky, who has been under the protection of the Institute for Intelligence and Special Operations (MOSSAD) since his arrest in 2021.

Shortly after the SVR informed the FBI about the murder contract issued against Ghislaine Maxwell yesterday, this report notes, FBI Deputy Director Dan Bongino posted the alarming notice to the American people:
During my tenure here as the Deputy Director of the FBI, I have repeatedly relayed to you that things are happening that might not be immediately visible, but they are happening.

The Director and I are committed to stamping out public corruption and the political weaponization of both law enforcement and intelligence operations. It is a priority for us.

But what I have learned in the course of our properly predicated and necessary investigations into these aforementioned matters, has shocked me down to my core. We cannot run a Republic like this. I’ll never be the same after learning what I’ve learned.

We are going to conduct these righteous and proper investigations by the book and in accordance with the law. We are going to get the answers WE ALL DESERVE. As with any investigation, I cannot predict where it will land, but I can promise you an honest and dignified effort at truth.

Not “my truth,” or “your truth,” but THE TRUTH.
For two days last week, this report continues, United States Deputy Attorney General Todd Blanche met with Ghislaine Maxwell at the Florida federal prison where she is incarcerated—and as to why a murder contract was issued against her, CNN host Michael Smerconish revealed from his sources about the meeting: “He is there to collect scalps and not an orange one...His mission is to come home with names that she‘s prepared to name publicly...The higher place they are in progressive, democratic circles, the better”.

On 30 July 2019, this report details, Russian intelligence officials warned that a $100 million murder contract had been issued against Jeffrey Epstein—Attorney Spencer Kuvin also warned, on 29 July 2019, that Epstein’s life “is in jeopardy” because his powerful pals “don’t want their secrets out”—and were unheeded warnings followed by Epstein being suicided in his prison cell a fortnight later on 10 August 2019.

On 9 August 2019, the day before Epstein being suicided, this report notes, Department of Justice prosecutors and FBI agents assigned to United States Attorney John Durham arrived in London to interview witnesses knowing about Epstein’s crimes—were interview meetings abruptly canceled when a mysterious power outage struck London—these interview meetings were canceled because of Epstein’s murder suicide—these interview meetings were arranged by Assistant United States Attorney Maurene Comey, the daughter of disgraced former FBI Director James Comey, she also prosecuted Ghislaine Maxwell, but last week, she was abruptly fired by United States Attorney General Pam Bondi.

The money trail for the contract to murder Epstein, this report continues, was quickly linked to American billionaire David Koch, whose wife Julia Koch served on a nonprofit hospital board with Chelsea Clinton, whose father former President Bill Clinton and mother Hillary Clinton both desperately needed Epstein dead before he talked—but before David Koch could answer any questions, he died a fortnight after Epstein on 23 August 2019.

Beginning in early June-2016, this report details, the SVR began warning about the crimes of Jeffrey Epstein—a warning spurred by the murder of Shahriar Zolfaghari, the husband of Georgia’s statewide prosecutor for human trafficking Camila Wright who was preparing to indict both former President Bill Clinton and Epstein on child sex slave charges—an indictment more than deserved as, in October-2016, the SVR discovered that Epstein had a video tape of Clinton raping a 13-year-old girl child—a blackmail video Epstein made for the Israeli intelligence agency MOSSAD and turned over to the CIA—and explains why former United States Attorney Alexander Acosta had “been told to back off” and not prosecute Epstein because it “was above his pay grade”—with Acosta exactly declaring under oath: “I was told Epstein belonged to intelligence and to leave it alone”.

Shortly after Epstein was suicided in his prison cell, this report concludes, it was revealed that the Clinton Union Bosses representing the prison guards watching over Epstein mysteriously owned $26 million worth of luxury properties in China—the New York City policeman who first examined Epstein and declared someone snapped his neck, quickly earned a bullet to the head death sentence a few days later—and Epstein child sex slave witness Virginia Giuffre was suicided at her home in Neergabby-Western Australia, on 25 April, after she posted the warning: “I am making it publicly known that in no way, shape or form am I suicidal...I have made this known to my therapist and GP- If something happens to me, in the sake of my family, do not let this go away and help me to protect them...Too many evil people want to see me quieted”.

[Note: Some words and/or phrases appearing in quotes in this report are English language approximations of Russian words/phrases having no exact counterpart.]


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July 27, 2025, EU and US all rights reserved. Permission to use this report is granted under the condition that it is linked to its source at WhatDoesItMean.com. Freebase content licensed under CC-BY and GFDL.

[Note: Many governments and their intelligence services actively campaign against the information found in these reports so as not to alarm their citizens about the many catastrophic Earth changes and events to come, a stance that the Sisters of Sorcha Faal strongly disagree with in believing that it is every human being’s right to know the truth. Due to our mission’s conflicts with that of those governments, the responses of their ‘agents’ have been a longstanding misinformation/misdirection campaign designed to discredit us, and others like us, that is exemplified in numerous places, including HERE.]

[Note: The WhatDoesItMean.com website was created for and donated to the Sisters of Sorcha Faal in 2003 by a small group of American computer experts led by the late global technology guru Wayne Green (1922-2013) to counter the propaganda being used by the West to promote their illegal 2003 invasion of Iraq.]

[Note: The word Kremlin (fortress inside a city) as used in this report refers to Russian citadels, including in Moscow, having cathedrals wherein female Schema monks (Orthodox nuns) reside, many of whom are devoted to the mission of the Sisters of Sorcha Faal.]

American Brain Prize In War For Attention Meets Media Apocalypse

Orwellian “Two Minutes Hate” Collides With “Overton Window” Fracture

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https://dailyreckoning.com/is-true-v...rypto-or-gold/

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By Christopher Whalen


July 25, 2025


Is True Value in Crypto or Gold?

With the Trump Administration headed down the road to higher inflation and the political chaos that results, it is worth asking why there are only” $4 trillion in notional crypto tokens, according to the Financial Times. The rise of bitcoin and other ethereal instruments evidences a strong desire on the part of many Americans to escape a sinking ship, but also confirms the love for creating new games to enable speculation. Are the crypto tokens a way to avoid the demise of fiat dollars?

As we noted in a recent comment in The Institutional Risk Analyst, the best returns in crypto at present are found investing in the stocks of some of the enablers. The fact that these new companies may or may not be stable businesses long-term does not matter in the speculative environment that currently governs Wall Street. We are particularly fascinated by the idea that a crypto firm can generate enough revenue to survive as a bank.

Robinhood Markets, for example, is up almost 500% in the past year, proving that there is a lot more leverage for investors in the facilitators of speculation in crypto and stablecoins than in the tokens themselves. Crypto-laden “special purpose acquisition companies” (SPACs) and various new, “Level 2” token games linked to existing crypto “markets” are the hot ticket today.

But the larger query, beyond the issues raised by bitcoin and substitutes, is the question about the nature of money. In my new book, “Inflated: Money, Debt and the American Dream,” author James Rickards notes that Americans “no longer know what money is” and have replaced “money with moneyness.” He then describes why money is one of the foundations of civilization.

“Money is not the point of civilization and it’s far from the most important feature,” Rickards argues. “Still, it’s part of the bedrock and performs crucial roles. Money is an advance on barter. Money is an alternative to violence. Money facilitates commerce and investment and acts as a store of wealth. Money is among the institutions, along with law, religion, and the family, that enable civilizations to be civil and avoid a Hobbesian war of all against all.”

Even though President Trump wants to make America the crypto capital of the world, and even threatens to open retirement accounts to these speculative notions, the rest of the world is migrating away from dollars back to the only true form of money that is not some form of debt, namely gold. Perhaps the most significant trend is the increasing purchases of gold by global central banks.

On July 1st, 2025, Basel III banking regulations officially reclassified physical gold as a Tier 1 asset, specifically a high-quality liquid asset (HQLA). This means that U.S. banks can now count physical gold at 100% of its market value towards their core capital reserves. Previously, gold was considered a Tier 3 asset, requiring banks to discount its value. But what is the proper discount rate for crypto and stablecoins?

A stable coin is a ridiculously expensive prepaid gift card. A stable coin, for example, backed by fiat dollars, does not change your fundamental economic and financial risk from holding dollar assets. You pay for the privilege of using a stable coin. The public mania around stablecoins is the latest evidence that humans are incapable of making rational decisions when they are part of a crowd. Long-term, we should view stablecoins as marketing tools for large advertisers to acquire and retain customers.

A stable coin backed by yen or Swiss francs, for example, is a very different proposition in terms of managing dollar risk, but such instruments also may fall afoul of state and federal securities laws. So how do individuals and countries protect themselves from the slow but inevitable decline of the dollar as the world’s primary money?

Owning gold or at least having exposure to the price of gold is perhaps the best option. The physical metal is independent of the fortunes of the state, yet as we learned in the 1930s, gold is vulnerable to confiscation.

More important to the analysis, however, may be the fact that so few investors have yet to rebalance their portfolio to reflect the opportunity presented as gold resumes its role as the world’s primary reserve asset.H ow much is the current allocation to gold by global investors?

“My rough guess, excluding central banks and physical gold in private hands, would be maybe 1% of portfolios globally and perhaps half of that amount for US investors,” notes Henry Smith, Director and Investment Manager, The Keep Fund Ltd., a Bahamas SMART Fund investing in the precious metals complex. “In your grandfather’s day, a trust portfolio would be 10% minimum in gold. We’re headed back there. That means we’re headed to five-digit gold and three-digit silver.”

Other mainstream analysts agree with Smyth’s prognostication. “Earlier this year, we examined the structural shift in gold’s demand and geopolitically influenced pricing drivers fueling its rebasing higher, ultimately posing the question if $4,000/oz is in the cards,” said Natasha Kaneva, head of Global Commodities Strategy at J.P. Morgan, in a June 2025 research note.

“To answer the question — yes, we think it is, particularly now with recession probabilities and ongoing trade and tariff risks. We remain deeply convinced of a continued structural bull case for gold and raise our price targets accordingly,” Kaneva added.

The reason JPMorgan is right and, indeed, still too cautious on their gold outlook is that the usage of gold as a reserve asset, legal tender in contracts and collateral for financial transactions is growing, yet this is a gradual process. The narrowing of the market for US Treasury collateral as central banks reduce their purchases in favour of gold is still not top of mind – yet – for US investors, but higher interest rates for LT Treasury paper will end that lethargy.

One of the chief reasons to be bullish on gold and negative on the dollar is that there is so little deliverable gold available. A lack of deliverable gold supply can create upward pressure on prices, but other factors like demand fluctuations, market sentiment, and the role of gold as a financial asset significantly influence its short-term price. Even with limited physical supply, demand and overall market conditions can moderate price increases.

“De-dollarization — a theme among foreign reserve managers and investment institutions who are typically slow to act — is a misnomer as it’s highly unlikely anyone is seriously considering fully divesting themselves of US assets, argues Simon White of Bloomberg. “But the evolution of events this year has led many foreign investors to consider reducing their exposure to the US, which had already grown imprudently large.

This will take time to show up in the data.”

Editor’s note: Find more of Chris’s writing at his website, The Institutional Risk Analyst. Chris is also a frequent guest on financial shows and podcasts. Search him up on YouTube and you’ll find plenty of great content.

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Gold Revaluation: Trump’s Red Button Option?
America is drowning in debt — but what if the real solution isn’t printing, but re-pricing gold? Could Trump press the ‘nuclear’ gold reset button?
Matthew Piepenburg

July 31, 2025 12:22:22 AM EDITED BY BRUCE WARREN MARGOLESE

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Could a gold revaluation be on Trump’s mind? Below, we consider the options facing a debt-sick America.

A Bug Racing for a Windshield
As we’ve been warning for years, the US and USD are a bug rapidly seeking a debt-hard windshield.
The trend and speed of this collision (and debt trap) are becoming increasingly more obvious with each passing day and headline.

In simplest terms, as US debt levels soar moon-bound, trust and interest in its IOUs (and the currency/dollar backing those IOUs) are sinking toward the ocean floor.
The evidence of such otherwise “dramatic” statements is literally everywhere.

Hard Questions
For example, although not at war, the US is running World War 2 debt-to-GDP ratios at the 120% level.
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How did this happen? What’s the “emergency” behind this grotesque ratio?
And more importantly, how can Uncle Sam save himself?

Simple Answer
Answering the first question is fairly simple.
We arrived at this appalling turning point because the US has been getting debt drunk for decades.
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Ever since Nixon took away the gold chaperone from the USD, politicians have been buying temporary prosperity, debt-based “growth” and duped voters by taking US public debt levels from $248B in 1971 to $37T (and counting) today.

This number alone is staggering.

Trillions Matter
The difference between “billions” and “trillions” is not merely alphabetical, it’s brutal.
1 BILLION seconds ago, for example, places us in 1997. Bit 1 TRILLION seconds ago places us at 30,000 BC.
Let that sink in for a moment.

If this shocks or bothers you, well… you’re not alone.

The World Has Called the USA’s Bluff
The rest of the world is shocked too, which explains why its central banks have been quietly net-dumping USTs and net-stacking physical gold since 2014.
This further explains why freezing the FX reserves of Russia in 2022 only accelerated the distrust of a now weaponized (and once neutral) world reserve currency.

De-Dollarization…
What followed was a well-telegraphed and carefully forewarned trend of de-dollarization from the BRICS+ coalition.

Tier-1 Status…
This trend took off around the very same time that the BIS, the mother of all central banks, officially classified gold as a Tier-1 reserve asset, making an open mockery of its “sister Tier-1 asset,” the UST.

Central Bank Gold Stacking…
Gold stacking by central banks, of course, continued to skyrocket at the same time:
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COMEX Panic…
If such signs of US dollar and debt woes/distrust were not obvious enough, the COMEX and LBMA exchanges out of New York and London then began scurrying like headless chickens.

Why?

Because they were trying to find enough physical gold to meet delivery demands to get the gold off of these exchanges, which, since 1974, were once just derivative schemes used to manipulate rather than deliver gold.

But the hidden facts (and implications) were far simpler. Counterparties to this legalized price-fixing scam now wanted their actual gold more than their paper contracts.

Why?
Because they saw physical gold’s growing, inevitable and superior role in a future monetary system moving away from the debt-discredited USD and UST.

Petrodollar Signposts…
To add insult to the USD’s injury, a growing and simultaneous trend away from the petrodollar during the same period was as obvious as it was media-ignored.
But the message was clear: Faith in a USD-driven future was openly in decline.

The Denial Stage?
Defenders of the USD, of course, were quick and right to remind the world that no other nation or currency could beat or replace the mighty Dollar.
After all, it is the world’s reserve currency.
It still holds the majority position in global FX reserves and, let’s be honest, neither China, Russia, nor any other nation has the reputation or bond market to replace the dollar, right?

Right.

Reality Check: Gold’s Future in a Fiat Swamp
But, here’s the kicker.

Nations like China or Russia aren’t trying to replace the USD with their Ruble or Yuan.
They, like the rest of the world, are slowly going to replace the USD with gold.
This doesn’t mean a gold-backed world reserve currency, just a gold-based world settlement system.

China Playing Chess
Take China as an obvious example.
They have no problem de-valuing their fiat currency when measured against gold, an asset they’ve been quietly stacking and misreporting for decades in a chess game of common sense as the USA plays checkers with QE.

Nor does China have much love for USTs…
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As I type this, China continues to pair gold to the oil it imports from Russia and Iran (conveniently dubbed “evil” by the weaponized US media).
In just over a decade, China’s gold-to-oil ratio was 8 barrels of oil to one ounce of gold. Today, that same ounce of gold buys China 50 barrels of oil.

Meanwhile, China has no problem seeing its Yuan price of gold rise from 7000/ounce in 2014 to 24,000/ounce today.
In short, the Yuan has collapsed against gold but not against the USD.
But China can live with this for the simple reason that it sees a gold-based new world order, and it has been stacking that gold for years.
Why?

Because the BIS, the IMF, and, of course, the BRICS+ nations see a world in which gold is superior to the debt-discredited USD as a strategic reserve asset.

Gold: Far More than an “Allocation”
Gold is no longer an allocation, hedge or subject of debate—it is the future of global trade and currency settlements. Period.

My colleague, Egon von Greyerz, saw this decades ago.
Of even date, for example, gold is now 20 % of global FX reserves. The USD percentage is falling dramatically to a 46% position, and the Euro holds a 16% slot.

But if central backs and BRICS+ nations continue to stack gold at current levels, gold may not be an official “world reserve currency” in substance or title, but it will be the new leading FX reserve asset in both title and power.

In sum, each of the foregoing themes, of which we have detailed and warned in numerous prior articles, explains the debt “emergency” facing the USD.

The Real Question: What Can the USA Do Now?
But what about the corollary question? That is: What options do the US have left to solve its debt (and hence currency) crisis?
This, too, has been on our minds for years.

More Fantasy Money?
Ultimately, there are no easy solutions or good scenarios left.

The MMT fantasy, for example, of solving a debt crisis with more debt that is paid for with mouse-clicked money has been tried in earnest since the QE guns took the Fed from a pre-08 balance sheet of $800B to a 2022 high of nearly $9T.

As reminded above, that difference between a Billion and Trillion is just plain madness.
The US, faced with solving its debt crisis (and bond market) at the expense of its paper dollar, is running out of time, options and global patience.
So, again—what can the US do today?

More War?
For Hemingway, at least, the most obvious next step is further currency debasement and war, which the past, current and even future headlines seem to confirm, from the Middle East to Eastern Europe:
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But with distrust in US politics and foreign policies rising in alternative media platforms highlighting left and right scandals on everything from Russia-Gate laptops to Epstein cover-ups and AIPAC-guided uh-ohs, trust in the left and right stirrups of the DC saddle is tanking at a rapid rate.

Re-sets, DOGE Cuts & Tariff Walls?
Meanwhile, the IMF has been telegraphing a great reset since COVID, and the current Trump administration has been trying to use DOGE cuts and tariff wars to bring debt and spending levels down.

But regardless of one’s political bias, let’s be mathematical: None of these policies is enough, and none of them, as of today, are even working – as the Elon/Trump social media war intensifies in a backdrop of rising rather than falling deficit levels.

More Financial Repression?
I also expect, and have warned of, more financial repression and capital controls around the corner.

But again, not much of a solution given current and future debt levels, debased dollars (worst DXY Q3 in 40 years) and a middle class already on its knees.

The Red Button Option: Gold Revaluation?
But DC has another option, which even the Fed’s recent May 2025 Manual openly hints toward.

I call it the “red-button option” of a radical gold revaluation to effectively use a precious metal (rather than a Fed mouse-click) to achieve QE-like monetization without having to issue more unloved USTs.

One can read the Fed’s lengthy May report on their own, but the Fed-speak boils down to this:
The Fed can add gold certificates to its balance sheet, which can then become assets of the Treasury Department’s TGA account to pay down a sliver of its $37-TRILLION-dollar public debt.

But the trillion-dollar question remains: How will these $42.00 gold certificates be re-valued?

Doing the Math
In a February Forbes article, for example, there was talk of marking these certificates to market.
If that were the case, the 8131 tons of US gold (roughly 260 million ounces) at the current spot price would give Uncle Sam about $850B in instant new money to pay off some debts.

This is nice, but hardly a solution to getting the aforementioned 120% debt-to-GDP figure down to pre-08 levels at a ratio compelling enough to restore trust in—and demand for—Uncle Sam’s unwanted IOUs.

But what if the US government put in a bid for $20,000 gold?
This would create a new price floor for the precious metal while simultaneously placing newly revalued gold certificates ahead of UST’s and mortgage-backed-securities on the Fed’s balance sheet?

Sound crazy?

If you read the May Fed Report, they hint at such a balance sheet “example” but shy away from naming a new price valuation on the gold certificates.
This means we can only guess at what comes next.

Desperate Times, Desperate Measures?
But desperate times require desperate measures, and there is nothing more desperate than the USA (and balance sheet) in its current form.
An emergency gold re-valuation of $20,000, by way of just one example (perhaps lower, perhaps higher?), would create instant trillions in liquidity to address Uncle Sam’s otherwise mathematically unsustainable bar tab.

Such a measure would buy time for US IOUs and votes for a beleaguered White House.
Such considerations, once thought extreme, must now be considered with desperate seriousness in a backdrop of only desperate options.
Nixon made a radical change in 1971. Can a red-button gold revaluation in 2025 or 2026 be equally ignored?
Let’s wait and see.

Be Careful of What You Wish For
And regardless of whether the inflationary red button is pushed or not, gold wins either way, as the dollar’s purchasing power in such a debt landscape has no absolute direction left to it other than downward.

Gold, as the ultimate, most stable, stacked and historically most trusted anti-fiat asset, has no direction left than upward.
Let’s also not forget that if gold is so re-valued, then the nation with the most gold will have the most leverage in this new system.

But as I’ve suggested elsewhere, that nation is more likely to be China than the USA. It has a lot more gold than the World Gold Council reports…
If so, like all empires whose average hegemonic age hovers around 250 years, the era of the American empire is coming to an obvious turning point, no matter how you stack it.

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August 1, 2025

Trump Gifts Another $1 Billion To “Greatest Salesman On Earth”
By: Sorcha Faal, and as reported to her Western Subscribers
A compelling new Security Council (SC) report circulating in the Kremlin today first noting President Putin declared about Ukraine refusing to enter into peace talk negotiations: “If the Ukrainian leadership believes waiting is necessary, they are welcome...We are prepared to wait”, says this declaration joined Foreign Minister Sergey Lavrov grimly observing: “Today’s Europe has completely plunged into a Russophobic frenzy, and its militarization is becoming, in fact, uncontrolled...This brings historical events to mind...With their current leaders, modern Germany and the rest of Europe are transforming into a Fourth Reich”.

Earlier today, this report notes, the Ukrainian Air Force announced: “Russia launched a barrage of over 300 drones and eight missiles on Kyiv on 31 July in one of the deadliest attacks on the capital since the start of the full-scale invasion”—an announcement joined with the news: “A deadly Russian attack on Kyiv and other cities overnight included the use of the jet-powered variant of the Shahed drone...The strike highlighted growing concerns that these weapons are harder to track and intercept than propeller-driven Shaheds because of how fast and high they fly...Until alternatives are found, these drones will require Ukraine to use expensive and precious surface-to-air missiles that can cost millions apiece”.

Also earlier today, this report continues, the Ministry of Defense (MoD) announced: “The Ukrainian army lost roughly 1,210 troops in battles with Russian forces in all the frontline areas over the past 24 hours” and revealed: “Last night, the Russian Armed Forces delivered a combined strike by long-range precision weapons and attack unmanned aerial vehicles, hitting enterprises of Ukraine’s military-industrial sector, the infrastructure of a military airfield and a warehouse storing ammunition, missile armament and components for the production of unmanned aerial vehicles...The goals of the strike were achieved...All the designated targets were hit”.

Yesterday, this report details, President Donald Trump warningly declared about President Putin and Russia: “It is disgusting what they are doing...Very sad...It should be stopped...It's a disgrace...We are going to put sanctions...I am not sure it bothers him or if it has any effect, but we are going to do it”—world-renowned American economist Professor Jeffrey Sachs of Columbia University immediately assessed: “If the sanctions are actually applied, they are an escalation of the conflict, and therefore very dangerous...I do not believe that they will be effective”—and top Kremlin spokesman Dmitry Peskov factually observed: “We have been living under a huge number of sanctions for quite a long time...Our economy operates under a huge number of restrictions...Therefore, of course, we have already developed a certain immunity to this”.

Also yesterday, this report notes, unelected Ukrainian Dictator Vladimir Zelensky revealed: “Today, I agreed on the main principles of our agreements with America, Ukraine – the United States, on arms...Large-scale agreements, I talked about them with President Trump, and I very, very much hope that we will be able to implement all of this...This will definitely strengthen both of our countries, and therefore – our allies, our partners”—a revelation quickly followed by the news: “A U.S. Senate committee approved a spending bill that includes $1 billion in support of Ukraine on 31 July”—all of which confirms President Trump having proclaimed Dictator Zelensky to be: “The greatest salesman on Earth”.

After gifting the greatest salesman on earth Dictator Zelensky another $1 billion of American taxpayer money, this report continues, President Trump announced that that his White House envoy Steve Witkoff is expected to travel to Russia in the coming days—an announcement joined by Secretary of State Marco Rubio claiming: “A war between the United States and Russia is not something we can ever see...These are the two largest nuclear weapons militaries in the world...And the danger would just be too great...I don’t think there’s any doubt that from a conventional military capability, the Russians could not take on the United States or, frankly, many of the countries in Europe, for that matter...I think they would struggle...They’ve struggled with Ukraine, who now is the largest army in Europe but at the time being invaded was not...I think they would struggle...On a conventional front greatly...I think what you worry more about is not an all-out war with Russia...I thing what you’re worrying more about is a skirmish or a miscalculation that leads to the start of conflict...Since the Russians are not very good at conventional weaponry, they would almost invariably have to rely on some other means, like a tactical nuclear weapon on the battlefield, to sort of escalate in an effort to de-escalate a fight...So you would worry about that, but we shouldn’t even think about it, because that’s not something that is plausible or frankly feasible for either side”.

The claims made by Secretary of State Rubio yesterday, this report details, stands opposed the reality that Russia has the largest and strongest military in world vastly outnumbering the United States and its Western allies—unlike the West that fights wars for territory, Russia fights “wars of attrition” to grind the enemy down before taking territory—and it was factually observed: “The American way of war hinges on maneuver warfare that surprises, flanks, and destroys an adversary...Today in Ukraine, the Russian military is pursuing a strategy remarkably similar to that of the past—using its overwhelming numerical superiority in men and weapon systems to achieve goals on the ground...This tendency may help to explain Russia’s current strategic choices in the fields and cities of Ukraine—where it has concentrated its efforts on brutal attrition warfare”.

Along with Secretary of State Rubio lying about Russian military capabilities, this report concludes, the United States has begun comically claiming massive Russian deaths in Ukraine, which caused world-renowned retired CIA analyst Larry Johnson to release his scathing open letter “Why Is US Intelligence Providing Bogus Numbers Of Dead Russian Soldiers?”, wherein he truthfully observed: “I can’t say I am shocked by this because we saw the US military fudge the casualties of the Vietnamese during that war, and the CIA inflated the number of Soviet deaths in Afghanistan...This kind of dishonesty is one reason why the US has not won a war since the end of World War II...Lies are used to sustain a failed policy...Instead of accurately counting Ukrainian casualties, DOD and the CIA are content to delude themselves about actual Russian losses”.

[Note: Some words and/or phrases appearing in quotes in this report are English language approximations of Russian words/phrases having no exact counterpart.]


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August 1, 2025 EU and US all rights reserved. Permission to use this report in its entirety is granted under the condition it is linked to its original source at WhatDoesItMean.Com. Freebase content licensed under CC-BY and GFDL.

[Note: Many governments and their intelligence services actively campaign against the information found in these reports so as not to alarm their citizens about the many catastrophic Earth changes and events to come, a stance that the Sisters of Sorcha Faal strongly disagree with in believing that it is every human being’s right to know the truth. Due to our mission’s conflicts with that of those governments, the responses of their ‘agents’ has been a longstanding misinformation/misdirection campaign designed to discredit us, and others like us, that is exampled in numerous places, including HERE.]

[Note: The WhatDoesItMean.com website was created for and donated to the Sisters of Sorcha Faal in 2003 by a small group of American computer experts led by the late global technology guru Wayne Green (1922-2013) to counter the propaganda being used by the West to promote their illegal 2003 invasion of Iraq.]

[Note: The word Kremlin (fortress inside a city) as used in this report refers to Russian citadels, including in Moscow, having cathedrals wherein female Schema monks (Orthodox nuns) reside, many of whom are devoted to the mission of the Sisters of Sorcha Faal.]

American Brain Prize In War For Attention Meets Media Apocalypse

Orwellian “Two Minutes Hate” Collides With “Overton Window” Fracture

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Time Is Money, Money Is Time
Dec 20, 2018·Alasdair Macleod
Life’s but a walking shadow, a poor player who struts and frets his hour upon the stage and then is heard no more.

-Macbeth

Our limited time, our brief candle as Shakespeare’s Macbeth had it earlier in the soliloquy quoted from above, may count for very little in the grand scheme of things, but is of the utmost importance to each of us personally. Unlike the other dimensions, height, breadth and depth, the fourth is almost infinite, but individuals enjoy only a small part of it, our three-score years and ten. Time moves on. What really matters is not wasting it.

We may appear to others to be wasting time. But it is not wasting it when we take a break, recharge our batteries, or stop to think. Pleasure-seeking, pursuing happiness, removing uneasiness is making good use of time. We are all different and enjoy different things, so wasting time is not time wasted so long as it our personal choice. No one can allocate time as effectively as the individual. It is intensely personal.

While using time effectively is a private pleasure, wasting it can be very frustrating. Wasting time is the denial of personal ambition, whether it is as trivial as in a game of cards or as momentous as changing one’s circumstances. Avoiding time-wasting requires positive personal action, but we live in a world where that decision is progressively being subsumed by the state. But the state has little concept of the importance of time, replacing it with indecision and deferment. Time offers change and progress, except to the state. The evolution of events that go with time undermines the state’s certainties. The state believes it has all the time in the world to get things right by consulting, reporting, debating and eventually acting, while everyone affected has to wait.

It takes more than a decade to agree a trade deal between the EU and another government, neither of which feels time is important. This snail’s pace with our time is the norm in government and inter-governmental affairs. In business, time is a cost working against profit, because profit is always measured within a time-frame. A businessman who is both proficient and efficient is a valued person in society. He is productive, maximising profits while limiting the time spent achieving them. Time is also the basis of interest rates, which far from being a cost of money, is an expression of time preference. Time preference is the discounted future value of materials, energy and effort not yet in possession, but promised to be so at a given future date.

Through monetary policy the state commandeers our time preferences, forcing its own omnibus version upon us. It commands the value of our personal futures relative to cash. We don’t often realise how damaging is the loss of freedom to determine the fourth dimension for ourselves. If we understood the state was depriving us of time, we would probably be angry. The embezzlement of its use is behind the growing frustration felt by ordinary people. It is the underlying theme to Hayek’s Road to Serfdom, how the state conspires to steal its people’s freedom for statist priorities.

The state’s functionaries are usually ignorant of what they are doing. As stated above, wasting our time doesn’t matter to them. It has taken two and a half years for the British Government to fail to negotiate Brexit, wasting every citizens’ time in both Britain and the EU wanting certainty.

The statists don’t care, because they place little or no value on time. The vade mecum which is their ultimate guide in these matters, Keynes’s General Theory, makes no substantive mention of the meaning of time until Page 293, where he correctly states that “the importance of money essentially flows from it being the link between the present and the future” [ italics in the original][i].

It is one thing that Keynes actually got right, but he then ignored the implications. The time dimension does not sit well with Keynes’s mathematical approach to economics, because the assumption behind equations is that time does not alter them. A+B@C can only assume all components are unaffected by time. In reality, a static world where yesterday’s deployment of money replicates tomorrow’s deployment of money, does not exist. If it did, there would be no human progress. Therefore, time brings with it change, so is an inconvenience which the neo-Keynesians choose to ignore.

Clearly, the statists’ motivation was to discard proven classical theory to make way for propositions that favoured the state controlling money, which as Keynes pointed out is the bridge between the present and the future. First, we produce. Then we are paid. Then we spend and save. Money is the temporary storage of our labour for future use. Time and money are synonymous and common to all these activities.

We think the state is taking only our money, but it is also taking our time. If it was more widely appreciated that we are being robbed of our time, attitudes towards state intervention would surely change. As it is, we think it is only money, and surely, who would want to be thought of as so venal to object to its redistribution to those that deserve it more?
Create a credit cycle, then suppress the consequences
The state has been extremely effective at picking our pockets, employing monetary prestidigitation as well as taxes. By taking control of the economic and monetary agenda, the state has persuaded us it can deploy our money more effectively than we can ourselves. It commands us to exclusively use the state’s own currency, backed by our faith in its credit. It suppresses interest rates to grow the economy and maximise taxes, saying we can become better off together. It takes payments from us and spends them in a manner determined by the state acting in our collective interest.

When the theft of our time is relatively minor, we tolerate it. We can grow wealthier together. But when we find ourselves working increasingly for the state, spending almost half our working lifetime doing so, our discontent and resentment builds. We are no longer in control of the fruits of our labour, our time. The central bank then springs to our rescue, creating the extra money we have lost in taxes, and encouraging the banks it regulates to extend credit to allow us to make more and spend more. It debases both our time preferences and the true cost of our wages to our employers. For a brief period, it might appear to work, so long as the losers don’t notice and complain. But it leads to economic instability by replacing the healthy randomness of our collective desires with a cycle of credit expansion and contraction.

Earnings and savings, the fruits of our time spent, are transferred from ordinary citizens and gifted to others favoured by the state, simply by suppressing interest rates, thereby reducing time preferences. Time-value is taken from consumers and given to producing borrowers. Over the decades, consumers have been gradually impoverished, and producers have learned to love the state more than the consumer.

Our inept leaders can sincerely believe they are making a better world for us all, but they suppress the evidence when it goes wrong. Instead of making a better world, over time they have depleted personal wealth and earnings by taxes and monetary debasement, leaving little left to transfer to the state in future. But time is money, so the state simply prints yet more currency to buy more time. In the absence of time-pressures the state believes the future can be deferred indefinitely, and eventually everything will be all right. Just be patient and give us more of your time…

Are we any happier without our stolen time? Occupy Wall Street, the emergence of America’s Despicables, Britain’s Brexiteers and France’s rioters all attest otherwise. Now that savings have been depleted, we must borrow to spend. The yellow brick road, which the stealers of our time promised will lead to only good things, is leading us instead into destitution.
The theft of time ends in a credit-driven crisis
The theft of our time through monetary debasement has continued apace ever since the discipline of gold was removed from the global monetary system. This occurred in steps from the early 1930s but accelerated after the Nixon shock in 1971. Prices then began to rise rapidly, as money’s purchasing power declined. The state eventually found a solution to rising prices: it just denies they are happening. The contents of consumer price index is continually rotated and adjusted, which in effect goal-seeks a modest two per cent annual rise.

In the 1980s governments came up with a new wheeze to augment declining savings: lend money to savers through the banks in order to inflate assets and consumption. They did this by repealing the Glass-Steagall legislation, which separated investment banking from commercial lending. Credit became increasingly available for residential property, credit cards and personal loans. The banks gained economic power and profits by creating this credit out of thin air and bankers made fortunes for themselves.

Since the 1980s, the destruction of genuine savings has been offset by the asset inflation fuelled through this easy credit. The excesses led to the 1987 crash, the dot-com bubble in 2000, and the residential property bubble in 2006-07. But the downs in property and financial asset prices were always rescued by yet more credit. Following the Lehman crisis ten years ago, the debasement of money has accelerated, asset prices have inflated, and price inflation has been concealed by the goal-seeking CPI.

The lack of any constancy in the currency allows the state to act without the bulk of the population being aware it is being robbed of its earnings, its savings, its future, its time. The simple truth is that not only is everyone poorer than they might have otherwise been, but they are poorer in absolute terms as well. Every year, the public is robbed some more, to the point where eventually there will be very little left to give, relative to the state’s escalating demands.

We must be close to that point. Only this week, we have seen the Christmas trade in Britain fail. Falling bank shares are an ominous leading indicator. Everywhere, people are less keen to borrow the credit offered by motor manufacturers to finance the purchase of their cars. Credit cards are maxed out. Homeless numbers in England, the ultimate indicator of personal distress, are up 169% since 2010.[ii] Additionally, tariffs, which are consumer taxes and taxes on production, are being imposed on Americans leaving them poorer.

The inevitable and forthcoming crisis is taking us to the end of that yellow brick road. We are not going out in a speculative bang, but with an impoverished whimper, with nothing left to give. And when the state collects diminished returns through taxes, it always seeks to recover them through yet more monetary debasement.

We know it ends in crisis, because history and logic say so. We appear to be on the verge of it, because of the message from the markets. Corporate bond markets in both America and the EU are in a stasis.[iii] We are also told that US banks are pulling the rug on corporate loans.[iv]

They call this deflationary, an imprecise term, which as Humpty Dumpty said, “it means what I choose it to mean”. A better description for what is happening is that it is the consequence of an accumulating and continual theft of peoples’ time by the state through the unfettered issuance of money and credit. Calling it deflation encourages the state’s agents to debase the currency even further, in the naïve belief that it is the antonym of inflation.

Stock markets are now falling, because investors are suspending their belief that the state is in control and can avoid deflation while steering us into a promised land of perpetually rising asset values. But when investors begin to think, as opposed to believe, the awkward questions will start coming. If the currency is being debased, the state will have to borrow escalating quantities of its own money just to stand still. And since the state has taken responsibility for our welfare, in a recession (another of Humpty Dumpty’s imprecise words) the state will have to borrow even more.

Where will the money come from? And at what interest rates? If borrowing costs are rising because we have nothing left to fund escalating state commitments, what of the corporations that calculate their returns based on the rising cost of working capital? Have bond markets and bank lending seized up because the banks have thrown in the towel? Having taken command of our time-preferences, has the state itself finally lost control?

It is only faith that allowed us to believe otherwise. Faith in the state, and faith in its credit. Without that, the state’s unbacked money loses its purchasing power, wasting all that time the state has taken from us. We can redefine the upcoming inflationary slump as being simply the visible destruction of everyone’s time.

[i] JM Keynes. The General Theory of Employment, Interest and Money Palgrave Macmillan reprint 2007

[ii] https://www.homeless.org.uk/facts/ho...g-our-analysis

[iii] https://www.zerohedge.com/news/2018-...nk-bond-prices

[iv] https://www.zerohedge.com/news/2018-...next-recession

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Inflationary Pressures Began After 2015 – Tariffs are a Distraction


Posted Jul 9, 2025 by Martin Armstrong |

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The Federal Reserve’s Survey of Consumer Expectations foresees inflation returning to “pre-tariff” levels. As I have mentioned, the rising costs were a mere price correction and not a permanent rise in inflation. Tariffs were NEVER the root cause of inflation.

The central bank predicts that inflation will read 3% in 13 months, which would be the same level of inflation—at least by the Fed’s calculations—since Trump entered the White House. The Fed was stating that prices would rise 3.6% back in March and April when the tariffs were announced. They blamed the Smoot-Hawley Tariff for the Great Depression, just like they’re now blaming Trump’s tariffs for inflation. It’s a political narrative.

Central bank members see inflation remaining unchanged over the next three to five years at 3% and 2.6% respectively. However, members see prices increasing in food (5.5%), medical (9.3%), gas (4.2%), rent (9.1%), and college tuition (9.1%). There is a plethora of factors leading to inflation in the aforementioned categories, none of which have any relation to tariffs.

https://www.armstrongeconomics.com/w...5.75.jpg?w=300

Prices have simply not returned to what they once were before the global economy came to a standstill during COVID. Every nation has been affected. The lockdowns and supply chain cracks were exacerbated by a massive increase of government spending. Then the government doubled down on green policies, causing energy prices to rise, and lit the situation ablaze amid the Ukraine war and Russian sanctions. The world was already amid a sovereign debt crisis before COVID, and in fact, the Economic Confidence Model clearly stated that the landscape would permanently change after the Big Bang target of October 1, 2015 (2015.75)—the peak in government confidence.

2015.75 was the beginning of the decline we are witnessing in sovereign bonds globally. The migrant crisis began in 2015 when former German Chancellor Angela Merkel invited Syrian refugees to Europe, leading other Build Back Better nations to follow suit in the years since. Anti-establishment sentiment was already on the rise when Trump first secured the presidency the following year in 2016.

Trump was not the cause, he was the symptom. The people lost faith in the establishment starting in 2015.75 and this is part of the global shift predicted precisely by the system. The Fed thinks inflation is a monetary issue. We are in a sovereign debt crisis, a confidence crisis, and a geopolitical storm and not a normal business cycle.

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Gold Signals War - Martin Armstrong Warns Of "Panic Cycle In 2026"
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by Tyler Durden
Monday, August 04, 2025 - 07:45 AM


Via Greg Hunter’s USAWatchdog.com,
Less than two weeks ago, legendary financial and geopolitical cycle analyst Martin Armstrong warned his “Socrates” predictive computer program showed a “100% Chance of Nuclear War.”


https://assets.zerohedge.com/s3fs-pu...?itok=OBf4g_K7

Since then, a war of words has flared up between President Trump and Russia, and he said Russia “has entered very dangerous territory.” President Trump then, “Orders US nuclear subs repositioned over statements from ex-Russian leader Medvedev.” “After Trump sends nuclear subs near Russia, Putin responds with hypersonic threat — what Oreshnik missiles can do.” If this is not enough to confirm some sort of nuclear exchange is coming soon, add what Secretary of State Marco Rubio just warned this past week. Rubio said, “In case of war with the US, Russia will rely on tactical nuclear weapons due to the weakness of its army.” A top Russian official also “Issues nuclear annihilation warning” and said Russia would “hit back with a devastating blow.” Keep in mind, all this happened in the last few days. On Friday, “gold signaled war” by exploding up $73 an ounce, up more than 2% in a matter of hours. Is the gold market seeing this nuke war talk and responding?

Armstrong says, “Oh, yeah! You look at gold, and you see what is happening..."
"Oil is pointing more towards September. . . . Gold keeps trying to get through the highs. This is not the major high. Hate to tell you, it’s not. Gold is showing, Up.

Every market I look at, it’s the same thing.
We have a panic cycle, and it’s not just for war in 2026.
Go to our site and look at the euro, and there is a panic cycle for 2026. It’s everywhere.

Why the computer has been correct is you cannot forecast any market in isolation. You can’t. It’s all connected.”
Armstrong says you won’t have to wait until 2026 for his “Panic Cycle” to begin.
His computer has long pointed to August 18, 2025, and that is about two short weeks away. Armstrong says,
“Honestly, this is turning into a grade school fight. I don’t know what Trump expects. He’s hurling insult after insult, and there is no possibility of peace anymore.

It’s one thing to do tariffs and sanctions against Russia. Now, he is saying we are going to put sanctions on anybody that even deals with Russia.
This is economic war. It’s as simple as that. . .. We don’t even have anyone to negotiate on behalf of the West. It’s dead, completely dead.”
Armstrong thinks neocons have built a wall around President Trump so nobody with different advice regarding NOT starting a nuke war can get through.
Is Martin Armstrong being blocked by the neocons surrounding President Trump now? Armstrong says, “I believe so..."
" I even wrote to AG Pam Bondi, and I did not get a response. I have written to presidents and heads of state, and I get responses. Not this time. . .. This is escalating, and he (Trump) is not in a good position. I don’t know what the hell he is doing. He seems to have crossed to the other side.”

There is much more in the 48-minute interview.
Join Greg Hunter of USAWatchdog.com as he goes One-on-One with Martin Armstrong, who is still giving a red alert for a very destructive nuclear war coming soon for 8.2.25.

To Donate to USAWatchdog.com, click here
There is free information, analysis and articles on ArmstrongEconomics.com.
Views expressed in this article are opinions of the author and do not necessarily reflect the views of ZeroHedge.

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No structural sunrise
While we admit European equities have been a great trade (and somewhat of a love story for us), we do struggle to see it as a structural story. History shows Europe can beat the US — but it rarely lasts more than a quarter or two. There are many worrying datapoints that would support that Europe’s had its quarter in the sun — but that there is no structural sunrise.

Checking In on That Sweeney Top

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Still valid, but...
Last week we issued a "Sweeney Squeeze Top" sell and backed it up with 10 + 10 reasons. Now obviously this was not the ultimate call for an forever top but much more of a tactical trading call. Let's examine the latest data-points on sentiment & positioning over the weekend to see how valid the short-term sell-call is. Conclusion? Still valid, but...

The Two Tailwinds For The Bulls
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Two Tailwinds
Easier financial conditions and the strongest earnings beats in four years are giving confidence to the bulls. With yields plunging and S&P 500 earnings revisions rising, the market’s optimism is anchored in these two tailwinds.

The Boomer Cash Ain't Helping
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Housing horror 2.0 (or 3.0)
Housing affordability is at record lows, builder confidence has cratered, and Fannie and Freddie are boosting credit‑loss reserves. With most households priced out and home prices softening, the U.S. housing market faces its most structural stress since the financial crisis.

August Anxiety Arrives
https://assets.zerohedge.com/s3fs-pu...mresizer_0.jpg
Average August angst
Nasdaq closing below its 20 day moving average for the first time since April. The last time the Nasdaq 100 QQQ fell 2%+ on the first trading day of August was... last year. The QQQs actually fell 2%+ on each of the first three trading days of August last year for a 3-day drop of 7.6%.
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The Fed Says It Is “Data-Driven.” But the Data Isn’t Any Good.

https://cdn.mises.org/styles/respons...?itok=Dye3BPpL08/01/2025•Mises Wire•Ryan McMaken


Listen to this article • 12:59 min

It’s been a big week for “the data.” At Wednesday’s FOMC press conference, Fed Chair Jerome Powell announced that the Fed was holding its policy interest rate steady at the current 4.5 percent. Powell noted that there was no need to cut the rate because the job market is “solid.” Powell engaged in the usual song and dance of declaring that the Federal Reserve’s monetary policy is data-driven or “data-dependent” and assured the attending members of the press that FOMC policy is carefully implemented by federal employment data (among other data points).

Less than 48 hours later, the Bureau of Labour Statistics (BLS) released its July report, revealing that the “solid” job numbers the Fed had allegedly used for the past two months were very wrong. The Bureau of Labour Statistics had greatly overestimated job growth in its earlier reports for May and June.

Then, mere hours after the BLS numbers went public, President Trump announced he was firing the head of the Bureau of Labour Statistics. But he wasn’t firing her because the agency’s data was initially wrong. Trump was firing her because Trump thought the revised BLS data was too low and made him look bad.

This leaves us with a couple of questions. The first is this: why are we still expected to take initial BLS job estimates seriously when they are often reduced by 75 percent or more upon later revisions?

The second question is this: what use is the Fed’s supposed devotion to being “data-driven” when the data itself is unreliable, and the Fed is basing its policies on data that turns out to be thoroughly wrong? The answer is: we can’t. The spectacle of the FOMC making policy based on wildly inaccurate employment numbers simply illustrates the absurdity of claims by Fed officials that the central bank can centrally plan the economy by divining the “correct” monetary policy based on government data.

The FOMC Meeting and Powell’s “Solid” Employment Numbers
After announcing it would make no change to the policy interest rate, Powell listed several factors that he said justified this policy. Among these claims was Powell’s assertion that “in the labour market, conditions have remained solid. Payroll job gains averaged 150,000 per month over the past three months. The unemployment rate at 4.1% remains low and has stayed in a narrow range over the past year.”

Throughout the press conference, Powell repeatedly emphasized—as he usually does—that the Fed and the FOMC were basing their policies on federal economic data and that the Fed is, to use an often-employed phrase, “data-dependent.” Notably, Powell also repeatedly emphasized that when it comes to employment data, the Fed is now more interested in the unemployment rate than in job growth or total employment levels.

All this talk of basing monetary policy on “data” is foundational to the central myth of modern central banking: namely, the idea there is that central bankers can centrally plan the economy by somehow calculating at what level to set short-term interest rates to fulfill the Fed’s mandates of full employment and price stability. The questions asked at the press conference by most of the reporters illustrated the success of this central bank propaganda. It was clear that the media audience believed that the Federal Reserve can, somehow, engineer the “right” level of price inflation—currently set at the arbitrary level of 2 percent—while also ensuring a robust job market. All that is required, the narrative goes, is that the Fed’s number crunchers convert government data—like the unemployment rate and the CPI level—into sound monetary policy.

The Federal Job Numbers Are Very Wrong
That was all on Wednesday. Then, on Friday morning, the BLS released new employment numbers, and suddenly all that Fed talk about “solid” job numbers didn’t look so convincing.

Friday’s job report was weak overall, with total job growth in the establishment survey coming in at only 73,000 new jobs (part-time or full-time) month-over-month in July. By itself, that would be fairly bad news and suggest a rapidly weakening job market. But that wasn’t the most notable part of the report. The big news comes from the fact that the total job growth for May and June was massively revised downward. For example, the initial job growth for May was reported by the BLS to be 144,000. But, as of Friday morning, the BLS now tells us that job growth in May was a measly 19,000 jobs. Job data underwent a similar shift for June. Until Friday morning, we were told that the US economy added 147,000 jobs in June, month over month. But, after Friday morning, we’re now told that the real total growth was a mere 14,000. That’s no mere rounding error.

Yet when the FOMC met in June, it was using the old bloated estimate of the May jobs numbers. So, the Fed’s “data-driven” decisions at the time were based on what are now apparently grossly inaccurate stats. Then, when the FOMC met again this month, it was using what now look like inflated job numbers from both May and June.

That suggests the entire enterprise of central planning using BLS data is pretty farcical.

Is the Fed Lying about the Data it Uses?
Given the fact that the FOMC meeting this week occurred so close to the release of new BLS numbers, one might suggest that the Fed wasn’t working with the old May and June stats, but had access to unpublished “better” data. That is, it’s reasonable to suspect that the Fed secretly knew the “real numbers” going into the July FOMC meeting. That may be true, but if true, then the Fed is deliberately participating in deception by repeating job numbers that the Fed knows to be false. For example, if Powell knew the “real” jobs number for May and June at Wednesday’s FOMC press conference, why did he say that “Payroll job gains averaged 150,000 per month over the past three months.” That’s not remotely true in light of the revised data. The average monthly job gain for “the past three months”—presumably April, May and June when Powell said this—was 63,000, not 150,000. (The number is even lower if we’re talking about May, June, and July.) If Powell knew the revised numbers on Wednesday, then he lied to the public when he claimed the “150,000” number.

Powell’s knowledge of the troubling revised numbers may have also motivated his comments about how the FOMC and the Fed are now really concentrating on the unemployment rate. It may be that, knowing that job growth had tanked in May, June, and July, Powell wanted to drive home that he is no longer paying attention to job growth numbers but is focused on the unemployment rate. After all, if one looks only at the unemployment rate, things look pretty good. Even in the new July report from Friday morning, the unemployment rate only slightly increased, rising to 4.2 percent in July.

This number is belied, however, by continued declines in the labour force participation rate. In July, that rate fell to 62.2 percent. Excepting the COVID period—when the federal government was using printed money to essentially pay people to not work—the labour force participation rate is now at the lowest it’s been in more than a decade. If the labour participation rate were at more normal levels, the unemployment rate would be significantly higher.

In any case, it is strange for the Fed to suddenly start suggesting that job growth numbers aren’t that important two days before it becomes publicly obvious that job growth numbers at the BLS are so thoroughly unreliable.

The lesson here is that the Fed’s repeated claims to be “data-driven” are mostly political theatre. Even if the employment data represented amazingly accurate estimates, the Fed would still not be able to centrally plan or calculate the “correct” interest rates. As it is, the Fed doesn’t even have convincing employment numbers.

Trump Fires the BLS Commissioner
Within hours of the BLS’s new report going public, Trump announced that he would fire BLS commissioner Erika McEntarfer. This move was hailed by the usual MAGA-style disciples of the Trump administration, who joined Trump in claiming that McEntarger was manipulating jobs reports for “political purposes.” Trump insists that the BLS numbers are too low and don’t reflect the fact that the US economy, thanks to Trump’s economic brilliance, is booming. But one could be forgiven for being confused here. If Trump is firing McEntarfer for publishing inaccurate numbers, is she being fired for the initial estimates—which made the job market look good—or is she being fired for the revised numbers? If she is trying to make Trump look bad, why did she first release numbers that made the job market look—to use Powell’s term—” solid”? Trump certainly had no problem with the reports released by McEntarger two months ago when the initial May data was released. At the time, time, Trump declared “GREAT JOB NUMBERS...!”

https://cdn.mises.org/inline-images/...%20%281%29.jpg
McEntarger’s methods have benefited Trump. After all, it’s that initial release of data that gets the most headlines, and it’s the revisions that are usually forgotten and swept under the rug. McEntarger is doing the same thing she did during the Biden administration: release positive initial data, and then revise down the numbers after the fact. The overall effect is to benefit the incumbent administration, regardless of whether the incumbent is Biden or Trump. Trump seems to be too obtuse to understand this.

We know the answer to these questions, of course. McEntarger is only being fired for inaccuracies that make Trump look bad. Trump only cares about “inaccurate” job numbers when they are “too low.” So, we have no reason to expect the data to get any more accurate any time soon.
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Two Ways to Fix Generational Wealth Inequality
August 4, 2025
One way or another, some significant percentage of the wealth of the nation will have to start supporting children and young families if this nation is going to have a future worth saving.

When I address knotty issues such as generational wealth inequality, I am naturally asked: "what do you propose as a solution?" As I concluded in my recent post Go Ahead and Rage at Boomers, But the Problem Is the Entire Economic Order (8/1/25): It doesn't have to be this way, but we're going to have to change our values and the fundamental structures of our economy if we want a different outcome.

So let's dig in, starting with an analogy.

We go to the dentist or oral surgeon, and the diagnosis is not good. Our gums have receded, our teeth are getting loose and if we don't undergo painful, costly surgery, we're going to start losing teeth. If we do nothing, fixing the future problems will be even more painful and costly than acting now.

But then someone else says all that is "doom and gloom," we're fine, everything will sort itself out without any pain or cost. This is what we want to hear, of course, but it's not reality-based; the realistic assessment is our teeth will fall out if we do nothing, and then our problems will be much worse. It's not going to sort itself out if we do nothing.

In the realm of economics and finance, there are veritable armies of apologists and PR flacks whose job (self-appointed or paid) is to reassure us everything is fine and it will all sort itself out without any pain, sacrifice or cost.

In summary: the Fed, AI, crypto, fusion, etc. Some form of financial engineering or techno-wizardry will make all our problems go away without any pain, sacrifice or cost.

The apologists and PR flacks paint a very pretty picture, but back in the real world, none of these supposed fixes will fix the generational wealth divide. There are two oft-proposed "it will all sort itself out without any of us having to do anything" pseudo-solutions:

1. As the economy grows, the younger generations will get wealthier as wages rise. That sounds good, but the economy has been growing smartly for many years and this has basically done nothing to close the generational wealth gap, so this is fantasy, not reality.

2. As Boomers pass on, their immense wealth will pass on to their offspring. Once again, this sounds nice but it's not realistic. One issue is the majority of this wealth is an artifact of unsustainable asset bubbles, i.e. phantom-wealth that will disappear when the bubbles pop.

The second issue is the cost of care is now so high that even $1 million can be consumed down to the last morsel. As I noted in The Stoicism of the Caregiver (3/5/25):

The financial costs of care are staggering. A bed in private assisted living is around $75,000 and up a year, a private room in a nursing home is around $150,000 a year, and round-the-clock care at home costs from $150,000 to $250,000+ annually.

The Crushing Financial Burden of Aging at Home (WSJ.com, paywalled)

"Christine Salhany spends about $240,000 a year for 24-hour in-home care for her husband who has Alzheimer's. In Illinois, Carolyn Brugioni's dad exhausted his savings and took out a home-equity line-of-credit to pay for home healthcare."

More than 11,000 people in the U.S. are turning 65 every day and the vast majority--77% of Americans age 50 and older according to an AARP survey--want to live as long as possible in their current home. At some point, many will need help. About one-fourth of those 65 and older will eventually require significant support and services for more than three years, according to the Center for Retirement Research at Boston College.

About one-third of retirees don't have resources to afford even a year of minimal care, according to the Boston College center.

"The new inheritance is not having enough money to give to kids but to have enough money to cover long-term care costs, says Liz O'Donnell, the Boston-based founder of Working Daughter, an online community of caregivers.

The costs of home care are so high that not just inheritances are exhausted; the home equity is also drained. $350,000 sounds like a lot of money but that might cover two years in a nursing home but not be enough to cover two years of round-the-clock care at home.

The cost of maintaining the home doesn't go away: property taxes, insurance and maintenance expenses must be paid, too.

In other words, the idea that the retired generation will leave ample inheritances is increasingly detached from reality. As noted, the new inheritance is to get through the years of caregiving without acquiring debt.

63 million adults are moonlighting as caregivers, with little support.

So where does that leave us? Let's start with an eye-opening chart depicting the percentage of young people who are both married and homeowners: Shocking Chart Exposes America's "Civilizational Crisis". Note that the rate has fallen from 45% to 15% in the 35 years during which the economy became increasingly dependent on credit-asset bubbles for its "growth."

https://www.oftwominds.com/photos202...ownership2.png

The well-paid apologists are already poring over statistics to "explain this away" and we can imagine the "explanations" that will be offered: young people simply don't want to get married and own a home. Um, OK, and so they also prefer financial precarity and nihilism, too, right?

I think there's far more truth in film director Celine Song's quote than in anything the apologists and PR hacks come up with. The quote is from 'Everybody's starved of affection' (The Guardian, paywalled):

"I think it has so much to do with how deeply broken our economic systems are, especially in the US. As we have learned, the American dream is not achievable. You cannot jump your class. But what's one of the few ways that you can still jump your class? Well, marriage."

In other words, stripped of plastic platitudes, the only way out is to marry way above mere middle class. The above chart reveals the low success rate of this "Cinderella" strategy. There simply aren't enough top 10% people who haven't already married another top 10% person left to meet the "Cinderella" demand.

OK, so now we're finally down to the painful, costly options, where the urge to attack the messenger becomes overwhelming. Look, I'm not saying I'm a fan of these options, I'm saying my job is to offer a realistic appraisal, and everyone can take that any way they want.

There are only two realistic ways to close the generational wealth inequality gap:

1. The Everything Bubble pops and wipes out 2/3 of the phantom wealth, the vast majority of which is held by the top 10% and the older generations (Boomers and the older cohort of Gen X). The gap is closed not by the younger generations getting wealthier but by the older generations getting poorer.

History suggests this is a very common way of closing the gap: all bubbles pop, and those who never owned the assets that bubbled up have nothing to lose. The wealthy lose most of their wealth, and that narrows the gap.

2. The younger Gen-Xers, Millennials and Gen Z start voting in high enough percentages to wrest political power from the older generations, and the younger political leaders who replace the old leaders come up with a much different policy-tax mix that addresses generational wealth inequality directly.

https://www.oftwominds.com/photos2025/generations2a.png

One way or another, some significant percentage of the wealth of the nation will have to start supporting children and young families if this nation is going to have a future worth saving.

https://www.oftwominds.com/photos202...al-wealth2.png

How this plays out is anyone's guess. One thing I've learned the hard way as a business owner and self-employed precariat is: "liking" or "not liking" has nothing to do with it. We either get the painful, costly work done now or the problems quickly get beyond being fixable at any cost.

I laid out my own views two decades ago: Boomers, Prepare to Fall on Your Swords (June 2005)


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Go Ahead and Rage at Boomers, But the Problem Is the Entire Economic Order
August 1, 2025
The entire economic order is bankrupt--ideologically, politically and financially.

A friend sent me a clip of Tucker Carlson going off on the Boomer generation, and I get it. Tucker's takedown was epic and entertaining (at least for me), but his disgust and rage were real. So let's dig into the sources of those emotions.

If you watch the clip, it's apparent that what really disgusts Tucker is the sanctimoniousness of the Boomers he references, the glibness of their virtue-signaling and claims to righteousness and significance. This extends to the financial level, where the sanctimony is expressed as a high-minded confidence that "we earned it," overlooking the trillions of dollars handed to them on a Federal Reserve / bubble-economy / entitlements platter.

I think we all get that, but the problem isn't the Boomers, it's the entire economic order. The Boomers were just the hitchhiker who were lucky enough to be picked up by the big-finned Cadillac on the way into Vegas.

Even if everyone were absolute saints, they'd still own most of the wealth. Here's why.

When Social Security was enacted in the 1930s, the retirement age was 65 and the average lifespan of Americans was 62. In other words, the program was intentionally designed to be self-funded (paid by a very modest tax on wages paid by both employer and employee) and act as a safety net for the fortunate few who lived long enough to collect it but who weren't lucky enough to be wealthy.

As the economy boomed in the postwar era, the age of retirement (at a lower percentage of full benefits) was lowered to 62 as the average lifespan increased to 70 by 1965, when Medicare and Medicaid were enacted. At their inception, these programs were mere fractions of federal spending, and appeared to be "good things" that were affordable.

The Boomers weren't born in the 1930s, and in 1965 they were kids. These entitlements were initiated in response to the grim reality that old age for the non-wealthy was generally a ticket to poverty.

Fast-forward to today, and the average lifespan is 80 (with millions of elderly living a decade longer) and 3/4 of adult Americans are at risk of lifestyle diseases / metabolic disorders due to an unhealthy diet and poor fitness. Over half of Americans are diabetic or prediabetic.

https://www.oftwominds.com/photos2024/diabetes2.png

The entitlement programs to aid the elderly that were modest decades ago are now almost 50% of the entire federal budget, dwarfing all other spending. Entitlements aiding young families are so modest they aren't even a blip compared to the soaring budgets of Social Security, Medicare and Medicaid. (Disability entitlements were added to Social Security, greatly expanding the program's costs.)

The budgets of these entitlement programs are on unsustainable parabolic trajectories. Medicare:

https://www.oftwominds.com/photos2025/medicare7-25.png

And Medicaid: healthcare has soared from 5% of GDP to almost 20%. "Unlimited free money" tends to do that...

https://www.oftwominds.com/photos2025/medicaid7-25.png

Now we come to the main course, neoliberal economic magic. The basic idea of neoliberal economics is if we just free market forces, that will permanently generate growth and wealth. The net result was an orgy of financialization that benefited the few, not the many, and so policy makers turned to inflating asset bubbles as the "cost-free" way to boost growth and wealth.

By lowering interest rates and flooding the economy with low-cost credit--monetary stimulus--assets will skyrocket, generating a wealth effect that loosens the purse strings of the asset owners as they see their wealth rise without them having to create any value whatsoever. Just sit back and watch your house and stock portfolio generate thousands of dollars of "free money."

The other neoliberal theory was "trickle-down economics": as the upper-middle class and wealthy spent freely, some of their immense gains in income and wealth would trickle down to the bottom 90%.

But since the vast majority of the economy's gains were flowing to capital/assets rather than wages, this didn't happen. What happened instead is the already-rich who owned most of the assets got richer while those depending on wages got poorer.

Add these forces together and what you get is extreme generational wealth inequality. Those who bought houses in the 1970s, 80s and 90s have profited immensely from housing bubbles #1 and #2 (the current bubble), and from stock bubbles #1 (dot-com), #2 (2007-08) and now #3 (The Everything Bubble).

https://www.oftwominds.com/photos202...al-wealth2.png

The entire economic order is bankrupt--ideologically, politically and financially. If nothing changes at the fundamental level, the rich will continue to get richer at the expense of those priced out of the bubblicious assets, and the older generations will continue to accrue unearned wealth while younger wage earners are reduced to debt-serfdom and wage slavery.

It doesn't have to be this way, but we're going to have to change our values and the fundamental structures of our economy if we want a different outcome.


Check out my new book Ultra-Processed Life and my updated Books and Films.

Become a $3/month patron of my work via patreon.com

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Disclosure: As an Amazon Associate I earn from qualifying purchases originated via links to Amazon products on this site.

Ultra-Processed Life print $16, (Kindle $7.95, Hardcover $20 (129 pages, 2025) audiobook Read the Introduction and first chapter for free (PDF)

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DAVE JANNY JULY ONE 2025 INVESTMENT LETTER

“(HOW TO BE A) MILLIONAIRE”

https://apis.mail.yahoo.com/ws/v3/ma...ils=true&pid=4

I’m taking a little bit of a different tact in this Letter, I’m sparing you some of the (maybe funny maybe not) theme pictures I normally use, and instead re-inserting the chart I used in my “ROLLERCOASTER” Letter, which I deem to be the most important chart I can show you. Again, kudos to Callum Thomas of @topdowncharts for posting and allowing me to use it.

An important development that has significantly aided investors in the last decade and a half is the absolute historical anomaly of just a couple of months of recession in that time period. Please acutely note and appreciate what an aberration that is from economic history. While anomalies can continue longer than I or others may believe, ultimately the consequences of the next recession could likely be very impactful as the underlying fragilities continue to build while being largely currently ignored by the complacently jubilant investor class.

I don’t know about you, but I enjoy TV trivia gameshows. One of my favorites as well as one of the more popular ones is “How to be a Millionaire”. As you might be familiar with, as the potential winnings pot gets bigger, the questions for the contestant in the hot seat get more difficult. If you get a question wrong, you’re eliminated, but you may have at least reached a guaranteed level less than your max level achieved. In the U.S. TV version, there are three potential “lifelines” you could use (once each) for assistance when facing a question where you may not be completely sure of the answer. Fandom describes the “lifeline” choices:

“50:50
Removes two incorrect answers, leaving the correct answer and one remaining one answer. In versions which allow 50:50 and Double Dip, they can both be used to guarantee a correct answer.
Phone-a-Friend
Allows the contestant to speak to one of a few contacts they nominated before the show for 30 seconds (may vary in some versions) to try to agree on a right answer.
Ask the Audience (Audience Poll)
Allows audience members to input an answer on their keypads to advise the contestant as to which option to pick.”

The last 16 years for Baby Boomers, in my mind, has very much resembled the gameshow, but with the added significant advantage of having a lot more than the normally just three allocated “lifelines”. A string of ongoing “emergency’ interventions and policies since the GFC has significantly aided investors, most notably Baby Boomers. Baby Boomers have been fortunate enough to have lived through an incredible 16 year investing stretch that encompassed their peak earnings, savings and investing years. I’ll share more thoughts on that in a moment, but how much do you think the events that this chart depicts has helped?

On the musical front, 1980s “new wave” afficionados and dance club partiers would remember English band ABC’s 1985 hit “(How to be a) Millionaire”. The enticing title meant a lot more in 1985 than it does in today’s dollars, but note the single came from the even sexier and ambitious album titled “How to be a … Zillionaire”. Today’s speculative investing climate is apparently attempting to live up to the lofty album title goal.

BELIEVE WHAT CAN HELP YOU GET TO THE MILLIONAIRE AND MORE STATUS

As I’ve often cited, it is getting increasingly difficult to believe anything we read, hear or even see (AI deep fakes). The focus of motivated “NARRATIVES”, intended to illicit an opinion or response, being directed at us has become overwhelming. This is especially true for someone like me, whose chosen occupation requires “knowing” what is happening in our world and trying to advise investors on how to interpret the voluminous and potentially conflicted information we are receiving. However, the problem is not exclusive to only financial professionals, as many individuals have become “addicted” to their phones and social media. The messaging from opposed factions has become increasingly divisive. ”Doom scrolling” has even become a commonly used term.

Statista recently ran a global poll trying to measure another new term – “news avoidance”. In the U.S. 42% of respondents were understandably inflicted with the condition.1 The song and theme “COMFORTABLY NUMB” (h/t Pink Floyd) come to mind.

What is somewhat surprising and ironic about the rise of things like “doom scrolling” and “news avoidance” amid the confusing messaging in “THE LAND OF CONFUSION” (h/t Genesis) is that a positive sentiment towards asset accumulation and appreciation has become firmly engrained in investor minds and has become the accepted default position no matter how much “doom scrolling” or “news avoidance” one succumbs to; no “CONFUSION” here, at least for the moment. There has become an expectation that prices “only go up” over time (even shorter-term time frames) and the government and financial authorities “have our back” and won’t allow for another sustained recession-induced bear market to dramatically hurt our financial position. The financial system has been designed to mask its flaws. It has incented speculation and investor complacency.

It seems like individual investors and financial advisors and Wall Street alike have comfortably cocooned into bullish “auto-pilot” mode. An eventual significant detour on “FINANCIALIZATION ROAD” most likely will provide navigational issues for many.

To help me make my point, allow me to relay a recent experience. I was having a consultation with a potential new client and learned that his current overall asset allocation was approximately 95% to U.S. equities. The gentleman was in his late 50s and had no doubt racked up a heftier portfolio as a result of his equity weighting. Not only was this person in “auto-pilot” mode, but so were his advisors who offered minimal communication and no change in strategy advice to boot.
Many investors are currently happily encamped in this eventual costly trap. I’m not sure precisely when this type of scenario becomes a problem for many, but rest assured that the inevitability of financial cycles, including the “OTHER SIDE” (h/t Aerosmith) eventually will play out and catch many in an expensive surprise.

LUCKY BOOMERS

While the quest for “MILLIONAIRE” and more status is not limited only to the Baby Boomers, it has been the Boomers that have occupied the pole position in the financial race. The Boomers were the original “borrow and spend’ generation and that mentality has thus far generally served them very well. That successful mantra has captured the imagination of many other age groups as well as effectively translated into many global geographies. I date the big picture “FINANCIALIZATION” trend I often write about as starting circa 1980, thus the last 4 ½ decades have been very well timed for Baby Boomers coming of age at the beginning of this trend.
After a rough decade that covered 2000-2009 and contained two 50% S&P bear markets, the last 16 years since then has been a financial boon that was amazingly even turbocharged after the onset of the 2020 pandemic. Investors have basically forgotten what the 2000s decade and recessions actually feel like. FYI, it’s not pretty or comfortable, but manageable and opportunistic if one is sufficiently prepared. My goal is to help in that beneficial preparation process.
I’d like to share another chart, courtesy of buffetindicator.net that reflects some more of that Boomer “luck”, it is the percentage reflecting the value of the Market Cap of the Wilshire 5000 divided by the U.S. GDP.

https://apis.mail.yahoo.com/ws/v3/ma...ils=true&pid=3

Needless to say, my introductory “recession by decade” chart is not the only chart that messages “anomaly.” As a matter of fact, the ratio eked a brand new high this past week at the nosebleed level of 209%. It’s obviously no wonder that Buffet’s Berkshire company is 1/3 invested in treasuries bills and is one of the biggest players in that market.

How high is high? According to buffetindicator.net, here are some historical indicator valuation data points:
Ratio = Total Market Cap / GDP Valuation
Ratio ≤ 86% Significantly Undervalued
86% < Ratio ≤ 111% Modestly Undervalued
111% < Ratio ≤ 135% Fair Valued
135% < Ratio ≤ 160% Modestly Overvalued
Ratio > 160% Significantly Overvalued

Where are we today (Jul 3, 2025)? Ratio = 209.5%, Significantly Overvalued 2
Notice how the ratio has quadrupled since the March 2009 GFC equity market low, not only does it reflect the fact that stocks have done incredibly well, but it also confirms the fact that the GDP growth of the economic period since then has been among the slowest in U.S. history.

There’s no question that the huge debt buildup has played a pivotal role in the lack of recessions, but at the same time curbing economic growth. The recession avoidance, despite slow economic growth, has been rewarded by the highest market valuation (not price but value versus the economy) in history. Note that the 50% market cap/GDP reading in 2009 was the last sustained recession. Unless one believes recessions have been miraculously outlawed, at this likely late stage of this cycle, some appropriate level of caution and defensive positioning seems to make sense.

Referring once again to some pop culture history, here’s a famous line from Clint Eastwood’s” Dirty” Harry Callahan character worth contemplating:
“You've got to ask yourself one question: 'Do I feel lucky?' Well, do ya, punk?”

THE CURRENT RALLY
After a rough start amid a near 20% S&P 500 correction taking us into April 2025, the market has responded with a blistering rally since then. We started out the year with “fiscal prudence” and “deficit reduction” being some of the stated goals of the Trump administration’s economic team, but it seems that the painful correction has caused a shift in gears.

It'd difficult to predict the fiscal and deficit impact of Trump’s “Big Beautiful Bill”, but one thing to consider about any scoring of its impact on future deficits is that it likely doesn’t account for the possibility of a prolonged recession: an “overdue” recession in my view. I believe it would be safe to assume that a recession would with near certainty “blow out” the deficit and the already record debt/GDP ratio of approximately 125% where we stand today.

I can’t give you much if any fundamental rationale and justification for the current rally, but it feels to me to resemble a “blow off” top that sharp momentum-driven rallies have a knack of turning into. As I’ve opined in my previous Letters, it feels like the speculative and potentially frothy asset markets have become “the economy”, thus there seems to be a more than reasonable possibility that a sustained market correction is what actually tips the real economy into recession. Keep in mind, it is those highly valued assets that serve as the collateral for much of that big debt pile; simultaneous excessive debt and valuations is a nasty combo that many times is what triggers the recessionary tipping point.

CONCLUSION
The recent rally in my view presents a great opportunity for those “lucky” Boomers as well as investors of all stripes to dial back their current investment “risk”. While the market could continue to work higher, I hope I’ve beneficially communicated to you that the combination of a historic dearth of recession coupled with historic market valuation should give you cause for pause; you don’t need to strive to become a “zillionaire” as the 1985 ABC album title advocated for.
Before you make any financial decisions such as asset allocation, retirement, real estate purchases, relocation and job/business choices, I urge you to keep in mind that while we don’t know the exact timing of an overdue recession, it is pending and you need to access the potential impact of that inevitability on those financial decisions.

I’ll leave you with a reiteration of some David Rosenberg comments at the Mauldin conference that I included in my “ROLLERCOASTER” Letter. I hope they resonate with you; they certainly do for me.

“… The household sector of America has never before had $50 trillion of exposure of equities on their balance sheet. Nobody this cycle has rebalanced. Diversification became a dirty 15 letter word - buy every dip.

“Take a look at what the equity ownership was going into the tech wreck. Barely more than $10 trillion. Going into the financial crisis, $15 trillion. Now we're at $50 trillion so there's a lot at stake here…

“71% of the household financial assets is in stocks. Who wants bonds? 8% in bonds. Bonds are for losers. Who shows up at the cocktail party talking about the belly of the curve? No one will talk to you. No. We'll talk about Bitcoin and the Nasdaq-100.”

Now I’ll add a little more clarity and significance from those Rosenberg comments directed towards Baby Boomers, but applicable to all:
“But what's most important is the boomers… The median boomer is now age 70. It's not 45 or 50 or 55 as it was going into the Great Financial Crisis. And over 60% of the boomers' portfolio is in the equity market. It should be 30 to 40%. Time is not on their side. And I shudder to think what happens if this ever shrinks when you're taking a look at the biggest exposures to equities are in the wrong demographic.” 3
Stay safe my friends.

ABOUT DAVID JANNY
David Janny is a Financial Advisor with over 40 years of experience in the financial services industry and is currently a Managing Director at Ameriprise Financial. Throughout his career he has withstood the madness of markets, standing firm in his commitment to fundamental and macro analysis, portfolio construction, and financial planning, David is also a music aficionado, blending his passion for financial markets with his love of many different musical genres to create investment themes. His experience and dedication make him an advisor for high-net-worth individuals seeking comprehensive financial guidance.

Recent Investment Letters can be found here:
ttps://www.ameripriseadvisors.com/david.janny/resources/
1 https://www.statista.com/chart/27632...al%20wellbeing.
2 https://buffettindicator.net/
3 https://www.mauldineconomics.com/fro...ation-standoff

The views expressed here reflect the views of David Janny as of May 29th, 2025. These views may change as market or other conditions change. Actual investments or investment decisions made by Ameriprise Financial and its affiliates, whether for its own account or on behalf of clients, will not necessarily reflect the views expressed. This information is not intended to provide investment advice and does not account for individual investor circumstances.

Investment products are not insured by the FDIC, NCUA or any federal agency, are not deposits or obligations of, or guaranteed by any financial institution, and involve investment risks including possible loss of principal and fluctuation in value.

Stock investments have an element of risk. High-quality stocks may be appropriate for some investments strategies. Ensure that your investment objectives, time horizon and risk tolerance are aligned with stocks before investing, as they can lose value.

There are risks associated with fixed-income investments, including credit risk, interest rate risk, and prepayment and extension risk. In general, bond prices rise when interest rates fall and vice versa. This effect is usually more pronounced for longer term securities.

In general, equity securities tend to have greater price volatility than debt securities. The market value of securities may fall, fail to rise or fluctuate, sometimes rapidly and unpredictably. Market risk may affect a single issuer, sector of the economy, industry or the market as a whole.
International investing involves certain risks and volatility due to potential political, economic or currency instabilities and different financial and accounting standards.

Ameriprise Financial cannot guarantee future financial results.
Asset allocation and diversification do not assure a profit or protect against loss.
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David Janny
Financial Advisor | Managing Director

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WWW.AVIELFOREXLEARNINGEDGE.COM

Good Morning Everyone

My subject this morning is PERCEPTION and REALITY. The results of the Italian referendum last night are a perfect example of that. In normal times which means free markets where we have proper price discovery, it is easier to make speculative decisions on market trades. Today we all live in a financial world where the truth is always distorted by those in control. The control for the moment rests with the Central Banks of the world led by The Federal Reserve and followed by the ECB and the BOJ and the BOE.

After the financial meltdown of 2008 involving Lehman Brothers and TARP, which originally was voted down in the USA and then approved, the financial world entered into uncharted waters never ever seen before. It started with QE in the USA and it continued with Draghi in Europe saying he would do whatever had to be done. We also see the failed monetary policies of the last ten years in Japan by the BOJ.

So now we live in a world of NIRP and the attempt all over the world especially recently in India removing the 500 Rupee and 1000 Rupee as legal tender. Because of the Money Printing and Helicopter Drops clearly stated by Bernake in his role as Fed Chairman, there has been so much electronic cash created that now the Central Banks of the World must remove actual cash from the World before the Public figures out that the real cash does not exist and if everyone realized the truth that all monies would be removed from the banks of the world and our financial systems would immediately collapse.

So with the first two paragraphs as background is it any wonder that at times the ability to understand day to day movements in the various currencies is impossible. The fact that EUR/USD has gone up and the markets are ignoring the REALITY and looking as the market psychology of the PERCEPTION then it follows that the MARKET is always right until it is not. Another excellent example with real life consequences is the behavior of the US Stock Markets and the World Bond Markets since November 8, 2016 and the election of Donald J Trump.

Based only on hope and surely, NOT REALITY the wrong assumptions of stimulus in the USA with the NEW Trump Presidency has lead to over Two Trillion Dollars of loss in the World Bond Markets and new highs in the Dow and SP500. There is no possibility that everything will NOT reverse, when REALITY TRUMPS PERCEPTION and that is the whole point. It is in knowledge of reality and the timing of the reality taking effect.

It would be most appreciated to have some feedback so intelligent discussions can be entertained. This week might be the week for REALITY when we hear from the ECB on Thursday and of course next week the FED meets on December 13, 2016 and comes out with their Rate Decision on December 14, 2016. This could be the principle of buy the rumor and sell the news which is what seems to have happened with Italy and the referendum results. When the FED raises rates for the first time in one year even though last December when they raised there was strong indication by them of 4 more raises during 2016. We live in interesting times.

WWW.AVIELFOREXLEARNINGEDGE.COM

https://www.hussmanfunds.com/comment...ions/ob250416/

An Abrupt and Cascading Dislocation
https://www.hussmanfunds.com/wp-cont...utton60x60.jpg
https://www.hussmanfunds.com/wp-cont..._thumbnail.jpg

John P. Hussman, Ph.D.
President, Hussman Investment Trust
Special Interim Comment: April 16, 2025

Brief Observations
The Market Climate remains on a Crash Warning. We have to allow for the possibility of the usual fast, furious bear market rallies that can occur after the market becomes oversold. Overall, our position remains defensive, but we’re managing our positions in a way that accommodates a bounce. It’s unfortunate, in my view, that investors have so much faith that a monetary easing can and will bail out the economy and the stock market. My view is fairly simple – the economic boom we’ve enjoyed has been driven by an inordinate amount of leverage, much of it of very poor credit quality, and by capital spending financed through the import of foreign savings. In an environment where demand for new capital investment was strong, easy bank credit and ample foreign savings fed extremely good economic growth rates. But I believe we are past that point here.”
– John P. Hussman, Ph.D., Market Comment, December 19, 2000

It can be dangerous to attempt trading bear market rallies early into a decline – especially when valuations remain rich. It’s useful to remember that the 1929 and 1987 crashes started after the S&P 500 was already down about 14% from its highs. So emerging panic is not enough – there has to be some basis to believe that a positive shift in investor attitudes toward risk would be sustainable. What we do observe, however, is that prices are somewhat oversold on a very short-term basis, so it’s reasonable to allow for one of those fast, furious bounces to clear that condition… investors should not immediately abandon caution when they emerge.”
– John P. Hussman, Market Comment, June 23, 2008

Remember that the first line down following a market peak is typically vertical. The steep initial losses typically make investors feel like fools to sell into the decline, and the clearing rallies that follow convince them that everything is still fine. That process, in repeated sequence, is why investors tend to hold on the whole way down, often eventually capitulating at the lows.”
– John P. Hussman, Ph.D., You’re Soaking In It, July 21, 2024

I’ve regularly described the period since early 2022 as the extended peak of the third great speculative bubble in U.S. history. As I noted in the April comment, Humpty Dumpty was Pushed, I believe that process is now complete. As discussed in that comment, our Recession Warning Composite also now indicates the likelihood of an oncoming recession in the U.S. economy.

In our day-to-day investment discipline, we’ve had several opportunities to vary the intensity of our defensive investment stance, some informed by the hedging implementation I described last September (for more, see Asking a Better Question, Subsets and Sensibility, and the section titled “The Martian” in The Turtle and the Pendulum), and some in response very short-lived “compression syndromes” that I’ve regularly discussed over the years.

While we remain open to changes in market conditions, as well as periodic “fast, furious, prone-to-failure” advances that can relieve the oversold “compression” produced by market losses, we are presently on high alert for a possibly abrupt and cascading market and economic dislocation in the weeks ahead.

The trap door swings open
At its core, a market crash is nothing but risk-aversion meeting a market that’s not priced to tolerate risk. We always become concerned about “trap door” outcomes when rich valuations are joined by deterioration in the uniformity of market internals – which is our most reliable gauge of speculation versus risk-aversion among investors.

Our concerns about trap door conditions become even more pointed when investor confidence has been destabilized. Recall that the 1929 and 1987 crashes started after the S&P 500 was already down about 14% from its highs. As a general rule-of-thumb, when investors are jolted by a decline in the S&P 500 of 10% or more from its 10-week high, and Baa corporate yields or credit spreads are widening, “trap door” conditions tend to be resolved by abrupt and often substantial market losses.

The chart below shows what this looks like, in data since 1928. The blue line is the S&P 500 Index (left scale, log). The red bars show instances that are assigned our most negative return/risk classification – based on measurable, observable market conditions such as valuations and market internals – coupled with a loss in the S&P 500 of more than 10% from its 10-week high and deteriorating Baa credit conditions (versus 6 months prior). The green line (right scale, log) is the cumulative return of the S&P 500 in the 65 weeks since 1928 when this particular set of conditions has been in effect. It’s a rare syndrome, but it has regularly occurred at the breakpoint of memorable market collapses, including 1929, 1987, 2000, 2008, and 2020.
https://www.hussmanfunds.com/wp-cont.../ob250416a.png

Notice that the green line looks as if it’s almost a stairstep. That’s because steep losses are so common once the trap door swings open. I’ve periodically described this sort of environment as a “crash warning.” Emphatically, that term is not intended as a forecast, but simply as a shorthand for market conditions that are often followed by abrupt mismatch of desired selling versus desired buying, and are typically resolved with price declines large enough to bring the two into equilibrium. Again, not a single share is sold that is not also bought at the same moment. What matters for prices is which person – the seller or the buyer – is more eager.

The chart below shows the largest loss in the S&P 500 – on a weekly closing basis – in the 6-week period following each of the instances above.
https://www.hussmanfunds.com/wp-cont.../ob250416b.png

One way to understand abrupt market losses is to consider what I’ve often called the “Iron Law of Equilibrium.” Every share of stock that’s been issued must be held by some investor at every point in time. Investors cannot “get out” of stocks, in aggregate, nor can they “get into” stocks, in aggregate. Every dollar a buyer brings “into” the market is taken “out of” the market by a seller. Every dollar a seller wishes to take “out of” the market has to come “into” the market from a buyer.

Consider, for simplicity, two sets of market participants – “trend-following” investors whose demand reflects backward looking market returns, and “value-conscious” investors whose demand reflects the level of market valuations and, by extension, expected future returns.
As I’ve shown in simulations of this kind of equilibrium, when prices are unusually elevated relative to the norm, it’s almost always because trend-followers (and other price-insensitive buyers) are “all in.” Those positions are – and in fact have to be – offset by equal and opposite underweights by value-conscious investors. A sudden decrease in the desired holdings of trend-followers and price-insensitive traders has to be satisfied by inducing a price decline large enough to give value-conscious investors an incentive to buy.

At its core, a market crash is nothing but risk-aversion meeting a market that’s not priced to tolerate risk. We always become concerned about “trap door” outcomes when rich valuations are joined by deterioration in the uniformity of market internals – which is our most reliable gauge of speculation versus risk-aversion among investors. Our concerns about trap door conditions become even more pointed when investor confidence has been destabilized. We are presently on high alert for a possibly abrupt and cascading market and economic dislocation in the weeks ahead.

As always, nothing in our investment discipline relies on forecasts, particularly involving extreme outcomes like those above. Instead, our discipline is to align our investment outlook with prevailing, measurable, observable market conditions, and to change our outlook as those conditions change. Even amid the initial break of what we view as the third great speculative bubble in U.S. history, we’ve had multiple opportunities to vary the intensity of our defensive outlook in response to market behavior, and we continue to watch for “compression syndromes” that can produce “fast, furious, prone-to-failure” market advances to clear oversold conditions.

For now, I would describe present market conditions as a “crash warning” – featuring an environment that includes extreme valuations, broken market internals, and destabilized investor confidence. Nothing in these conditions ensures a market collapse – abrupt crashes are the rarest of events, and investors should approach current risks with that understanding. Still, we should be aware that virtually all market crashes share a common feature – risk-aversion meeting a market that’s not priced to tolerate risk.

A final risk
Because silence can be equal to consent, I’ll add that these unfavorable market conditions are joined by other observable elements that are deeply troubling in my view: the rapid descent of the U.S. toward an autocracy that normalizes the unchecked abuse of power; dispenses with the rule of law, due process, and human rights; dismantles democratic institutions; replaces career civil servants with loyalists; systematically defunds public health research and disease surveillance; retaliates against critics; raises barriers to access of Social Security offices and earned benefits; pressures law firms not to represent clients; exploits every opportunity for self-dealing; defunds universities, purges libraries, and whitewashes museums of so-called “improper ideology”; maligns journalists and bars access to news organizations that resist absurd demands; abandons, betrays, and disparages allies; openly seeks to annex sovereign countries; floods public dialogue with disinformation, grievance, fear, division, and false narratives; expels independent Inspectors General along with the capacity of the public to demand accountability; and deliberately erodes constitutional constraints in favor of personal dictate.

Perhaps the escalating risk of a market crash and cascading economic dislocation isn’t surprising after all.
We’re more than this. More than our division. More than the blame we cast on the other “side.” All of us are made of this shared substance of common humanity. The tragedy is that in our anger, we can’t see it – only us versus them. As my beloved friend and teacher Thich Nhat Hanh often said, “Enlightenment is the moment a wave recognizes that it is the water.”

Our enemy isn’t each other – even the people we blame for all of our own suffering since the time we were 5 years old have suffered themselves since the time they were 5 years old. The blame falls to hatred, injustice, and ignorance themselves; the greed, violence, abuse, and lack of compassion that come from our illusion that “we” and “them” are separate; the failure to even consider how the other side has suffered – something both liberals and conservatives share; and worst, the destructive impulse to eliminate everything – even human beings – that we associate with the other “side.” All of us risk falling into that trap, and we can see our way out. If we have the insight to see that the other person also suffers, we know better what to do, and what not to do, to go forward.

Look, I’ll speak out and fight against hatred, division, avarice, corruption, and injustice all day long. But it’s those elements, not human beings, that are the enemy. I hope others do the same, but also always considering the suffering of the other “side.” Even those who fight for the dignity and equality of others – especially those who are different – have to be mindful enough to see the moment when others feel threatened that those differences will overwhelm their way of life. When any side goes unheard for too long, their response is often to destroy, even without considering the consequences. My concern is that it’s happening within our government and nation right now.

This is, because that is
This is not, because that is not
They are like this, because we are like that
They are not like this, because we are not like that
– Buddha

Despite our differences, and a thousand failures to become “a more perfect union,” we still have the capacity to listen to each other and work together to solve problems. We still have the chance to preserve a United States of America that dignifies the patriots who sacrificed their lives for this precious democracy – this Constitutionally based republic – without dispensing with “democracy,” or “Constitution”, or “United.” In our anger and division, we are further along the path of losing that precious inheritance than we may want to admit.

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Prospectuses for the Hussman Strategic Market Cycle Fund, the Hussman Strategic Total Return Fund, and the Hussman Strategic Allocation Fund, as well as Fund reports and other information, are available by clicking Prospectus & Reports under “The Funds” menu button on any page of this website.

The S&P 500 Index is a commonly recognized, capitalization-weighted index of 500 widely-held equity securities, designed to measure broad U.S. equity performance. The Bloomberg U.S. Aggregate Bond Index is made up of the Bloomberg U.S. Government/Corporate Bond Index, Mortgage-Backed Securities Index, and Asset-Backed Securities Index, including securities that are of investment grade quality or better, have at least one year to maturity, and have an outstanding par value of at least $100 million. The Bloomberg US EQ:FI 60:40 Index is designed to measure cross-asset market performance in the U.S. The index rebalances monthly to 60% equities and 40% fixed income. The equity and fixed income allocation is represented by Bloomberg U.S. Large Cap Index and Bloomberg U.S. Aggregate Index. You cannot invest directly in an index.

Estimates of prospective return and risk for equities, bonds, and other financial markets are forward-looking statements based the analysis and reasonable beliefs of Hussman Strategic Advisors. They are not a guarantee of future performance, and are not indicative of the prospective returns of any of the Hussman Funds. Actual returns may differ substantially from the estimates provided. Estimates of prospective long-term returns for the S&P 500 reflect our standard valuation methodology, focusing on the relationship between current market prices and earnings, dividends and other fundamentals, adjusted for variability over the economic cycle. Further details relating to MarketCap/GVA (the ratio of nonfinancial market capitalization to gross-value added, including estimated foreign revenues) and our Margin-Adjusted P/E (MAPE) can be found in the Market Comment Archive under the Knowledge Center tab of this website. MarketCap/GVA: Hussman 05/18/15. MAPE: Hussman 05/05/14, Hussman 09/04/17.

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WHO PULLS THE STRINGS? A Full Breakdown of the Global Control System.
From Greg M
Gregory Mannarino
April 23, 2025
https://ecp.yusercontent.com/mail?ur...bp8y6VQaLA--~D

https://ecp.yusercontent.com/mail?ur...4aA7przF4Q--~D
https://ecp.yusercontent.com/mail?ur...rg.uSY.CUg--~D
https://ecp.yusercontent.com/mail?ur...rZySyblNFQ--~D
https://ecp.yusercontent.com/mail?ur...cJ_T_rqGVw--~D

?url=https%3A%2F%2Fsubstackcdn.com%2Fimage%2Ffetch%2Fw_36%2Cc_scale%2Cf_png%2Cq_auto%3Agood%2Cfl_progressive%3Asteep%2Fhttps%253A%252F%252Fsubstack.com%252Ficon%252FLucideArrowUpRight%253Fv%253D4%2526height%253D36%2526fill%253Dnone%2526stroke%253D%252523808080%2526strokeWidth%253D2&t=1745422523&ymreqid=dc8ee42a-3a6e-415d-1caa-e6000101d500&sig=g85zecdeQA_xilrzOqLVzw--~D

Lions…
https://ecp.yusercontent.com/mail?ur...pFh0U3yjYA--~D

WHO PULLS THE STRINGS? A Full Breakdown of the Global Control System.

Layer 1: CENTRAL BANKS & BIS. THE DEBT ENGINE.
What Do They Control? Every modern currency is born in debt. Central banks don’t “print” money, they loan it into existence at interest. They’re not governmental the U.S. Federal Reserve, for example, is a private banking consortium.

So, What is Above Them?
The Bank for International Settlements (BIS) sits at the top. Headquartered in Basel, Switzerland. It oversees and coordinates central banks globally. Operates in total secrecy immune from national law, even police searches.

The System. Debt is infinite. Money is temporary.Inflation, recessions, bailouts, all engineered.

Purpose: To enslave nations to compounding interest and make governments servants to debt instead of servants to the people.

Layer 2: FINANCIAL CARTELS. THE INFRASTRUCTURE OF CONTROL.

The Big Players. BlackRock, Vanguard, State Street they own everything. Banks. Media. Defense. Pharma. Tech
IMF, World Bank, WTO… they loan to nations, then force austerity and policy changes.
Trilateral Commission, Council on Foreign Relations (CFR), Bilderberg Group, global planning without democracy.

How It Works.
BlackRock and Vanguard are mutual owners, a snake eating its own tail.They are in every boardroom, every government, every global crisis.

Control is silent. Profit is infinite.

Purpose: Consolidate power. Collapse borders. Build a corporate Babylon where everything is monetized, even human behavior.

Layer 3: BLOODLINE DYNASTIES. THE GENERATIONAL OWNERS.
The Hidden Families.
Rothschilds. Centuries of banking power, especially in Europe.
Rockefellers. Petroleum, pharma, education, and medical control.

More families… Schiffs, Warburgs, Du Ponts, Windsors – each controls a realm: war, food, science, monarchy.
https://ecp.yusercontent.com/mail?ur...xn7y5e3u.A--~D

How They Operate.
Not elected. Not visible. They own/ Central banks. Major insurance companies. Key media outlets. Ivy League schools. They manipulate from above, steering, never rowing.

Purpose: Quiet control through ownership. Permanent power. No term limits.

Layer 4: SPIRITUAL PARASITE. THE BEAST BEHIND THE SYSTEM.

The True Puppet Master… This is not human.
It is a spiritual force… an inversion of divine will. It thrives on Lies. Chaos. Fear. Inversion of all-natural order
Known By Many Names. Babylon. Mammon. The Adversary, many more.

Its Goal.
Replace nature with tech.
Replace God with state. Replace freedom with safety. Replace truth with compliance
Its final form is not money. It is control over consciousness.
THE NEXT PHASE. THE DIGITAL PRISON. Tokenized Money / CBDCs
Central Bank Digital Currencies will expire, be programmable, and trace every transaction. You will not “own” your money, you will license it from the system.

Social Credit & ESG. Your ability to spend will be tied to. Behavior. Carbon use. Vaccination status. Political allegiance
Digital ID & Biometric Lock-In. No ID = No access to food, travel, healthcare. Biometric databases (retina, DNA, gait, face) are already in use. Tied to your digital wallet, health records, and compliance history/

AI Policing & Surveillance Grid. Cameras with facial recognition. Predictive behavior monitoring. Dissent = digital exile
5. Global Emergency = Justification. Climate, war, virus, cyberattack, doesn’t matter.
The endgame is total control, and the crisis is the excuse.

You are not powerless.
The Pride is rising. TOGETHER WE CAN. Pull out of the system, own assets outside their control (land, gold, silver, crypto cold wallets). Refuse digital ID… fight it at the local level before it rolls out/ Speak Truth… because silence is compliance Return to Source! The Most High, is our refuge and our clarity. Prepare to lead… the confused will need voices when the grid shifts

The meek shall inherit the Earth… because they see through the illusion.
And we Lions will roar
GM.

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https://mises.org/mises-wire/trump-w...e5f3-230184928

Mises Wire
Trump Wants the Fed To Pump More Easy Money


https://cdn.mises.org/styles/respons...?itok=TXV3lJRA04/23/2025•Mises Wire•Ryan McMaken


For a few days during the early weeks of the current Trump administration, it appeared that the Trump team might actually try to rein in the Federal Reserve. Trump and Elon Musk hinted that they would push for an audit of the Federal Reserve, and they even suggested that they would bring in Ron Paul to serve as an advisor on the matter. More recently, though, it seems that a meaningful critique of the Fed is going the way of that imaginary trillion dollars that the Department of Government Efficiency has already given up on cutting from the federal budget. In other words, the hinted-at Fed audit has disappeared from the Trump “to do” list.

Even worse, it now is becoming clear that if the Trump team is going to attack the Fed, it’s because Trump wants more inflation from the Fed, not less. Since he was sworn in, Trump has attacked the current Fed chairman Jerome Powell at least three times for not forcing down interest rates enough. He’s done this in spite of the fact that the Fed cut rates by 100 basis points over the past year. Specifically, last fall, the Federal Open Market Committee (FOMC) reduced the target rate three times, lowering it from 5.5 percent to 4.5 percent. This was a major reduction, especially since it occurred during a period when it was hardly clear that CPI inflation was falling sustainably.

In February, though, Trump railed against Powell (and, by extension, the FOMC) for not implementing any new cuts in the Fed’s target policy rate since December. Trump wrote on Truth Social “Interest Rates should be lowered, something which would go hand in hand with upcoming Tariffs!!! Lets Rock and Roll, America!!!” Apparently, The Fed’s recent cuts to the Fed’s target rate—which requires ongoing market intervention from the FOMC—was not enough for Trump.
Then, on April 17, Trump renewed his inflationist attack, complaining in another social media post that Powell is “always TOO LATE AND WRONG,” and he insisted the Fed chairman’s “termination cannot come fast enough!” Trump even held up the highly inflationist European Central Bank as a sort of model, claiming that the Fed should be more like the ECB. This past Monday, Trump was at it again, demanding that Powell lower the target policy rate, posting on social media: “unless Mr. Too Late, a major loser, lowers interest rates, NOW.”

https://cdn.mises.org/inline-images/...too%20late.png

Trump’s word choice is telling. The refrain of “too late” has long been the battle cry of Wall Street corporate welfare queens who push for easy money while complaining that the Fed will engage in a “policy error” if it doesn’t slash rates “soon enough.” Trump is now apparently very much on that bandwagon. Of course, for people like Trump and other easy-money addicts, it’s almost always the “right time” to cut interest rates in order to “stimulate” the economy with more monetary inflation.

At this point it’s clear that hopes that Trump was going to be a hard-money guy who would rein in monetary inflation were pure wishful thinking. Trump’s preferred monetary policy is demonstrably no different from that of Biden, Obama, or George W. Bush. The “solution” for these politicians is always more easy money, in the form of lower interest rates.

Why Trump Needs More Easy Money
This should not surprise us, though, since Trump wants to lower interest rates for political reasons just as his predecessors did. For one, Trump’s profligate budget policies continue to run up large deficits, and there are no plans for any major cuts in deficit spending, in spite of the quickly unraveling promises made by the so-called Department of Government Efficiency.

So, in order to prevent interest rates on the federal debt from spiraling out of control, Trump is going to need the Fed to intervene to put some downward pressure on yields.

Secondly, Trump wants monetary stimulus to counteract the effects of his tax hikes on imports-also known as “tariffs.” Trump himself hinted at this with his February comment in which he said that lower interest rates “would go hand in hand with upcoming Tariffs!!!” From the perspective of economics, this sentence is essentially a non sequitur since there’s nothing about tariffs or low interest rates that suggests they go necessarily go “hand in hand.” Trump’s claim makes a lot of sense from a political perspective, however. Given that tariffs are just taxes, and taxes have an impoverishing effect on the economy, it seems Trump wants a more dovish Fed to create a “wealth effect” among voters. That is, low interest rates can be a political tool to paper over the real negative effects of higher tariffs—which are just taxes on Americans who want to buy imported goods.

What Trump Should be Doing
The problem with the Fed is most certainly not that Jerome Powell isn’t forcing down interest rates enough. Rather, interest rates have been far too low for far too long, augmented by the FOMC’s usual open market operations and by repeated and huge asset purchases of Treasurys and mortgage-backed securities since 2008.
Contrary to Trump’s plans for more monetary inflation, the right path is to rein in the Fed by ending the Fed’s power to purchase assets of any kind, thus greatly curtailing the Fed’s ability to manipulate interest rates. (Naturally, the end goal should be to abolish the Fed entirely.)

Unfortunately, it’s increasingly apparent that Trump has no interest in fighting the monetary policies that give us 40-year highs in price inflation in 2022, and which continue to drive up prices in housing, food, and other essentials. If anything, Trump is doubling down on those failed policies and demanding that our activist, meddling central bank do even more.

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https://icecapassetmanagement.com/gl...nker-is-lying/