The Real Causes for the Oncoming Economic Collapse

This Thursday, the markets took a 1000 point hit which was more than a little startling for many investors since the last 1000 point fall only happened three days prior… all in all bringing the financial markets to lows not seen since April 2011, and veering dangerously close to a precipice which has 1929 written all over it. Across the internet, panicky discussion has erupted over whether this foretells another 1987 collapse as Donald Trump warned, or something more akin to Black Tuesday of 1929. Others have pondered whether this is more similar to a 1923 Weimar hyperinflation where Germans became millionaires overnight (not much to celebrate when bread costs billions).

The fact of the oncoming collapse itself should not be a surprise- especially when one is reminded of the $1.5 quadrillion of derivatives which has taken over a world economy which generates a mere $80 trillion/year in measurable goods and trade. These nebulous bets on insurance on bets on collateralized debts known as derivatives didn’t even exist a few decades ago, and the fact is that no matter what the Federal Reserve and European Central Bank have attempted to do to stop a new rupture of this overextended casino bubble of an economy in recent months, nothing has worked. Zero to negative percent interest rates haven’t worked, opening overnight repo loans of $100 billion/night to failing banks hasn’t worked- nor has the return of quantitative easing which restarted on October 17 in earnest. No matter what these financial wizards try to do, things just keep getting worse. Rather than acknowledge what is actually happening, scapegoats have been selected to shift the blame away from reality to the point that the current crisis is actually being blamed on the Coronavirus!

Deeper than Corona

Let me just state outright: That while the coronavirus may in fact be the catalyzer for the oncoming financial blowout, it is the height of stupidity to believe that it is the cause, as the seeds of the crisis goes deeper and originated much earlier than most people are prepared to admit.

To start getting at a more truthful diagnostic, it is useful to think of an economy in real (vs purely financial) terms – That is: Simply think of the economy as total system in which the body of humanity (all cultures, nations and families of the world) exist.

This co-existence is predicated on certain necessary powers of production of food, clothing, capital goods (hard and soft infrastructure), transportation and energy production. After raw materials are transformed into finished goods, these physical goods and services move from points A to B and are consumed. This is very much akin to the metabolism that maintains a living body.

Now since populations tend to grow geometrically, while resources deplete arithmetically, constant demands on new creative discoveries and technological application are also needed to meet and improve upon the needs of a growing humanity. This last factor is actually the most important because it touches on the principled element that distinguishes humanity from all other forms of life in the ecosystem which Lincoln identified wonderfully in his 1859 Discoveries and Inventions Speech:

“All creation is a mine, and every man, a miner. The whole earth, and all within it, upon it, and round about it, including himself, in his physical, moral, and intellectual nature, and his susceptibilities, are the infinitely various “leads” from which, man, from the first, was to dig out his destiny… Man is not the only animal who labors; but he is the only one who improves his workmanship. This improvement, he effects by Discoveries, and Inventions.”

During a 1994 address to Russian scientists in Moscow, a modern adherent to Lincoln’s system (the late economist Lyndon LaRouche) addressed this concept from a modern perspective by asking:

https://www.strategic-culture.org/news/2020/03/09/the-real-causes-for-the-oncoming-economic-collapse/

Judicial Watch Sues State Department for Text Messages of Hillary Clinton and Huma Abedin

(Washington, DC) Judicial Watch announced today that it filed a Freedom of Information Act (FOIA) lawsuit against the State Department for all text and other electronic messages of former Secretary of State Hillary Clinton and former Deputy Chief of Staff Huma Abedin after discovering an email that strongly suggests Clinton used text messages for official business (Judicial Watch v. U.S. Department of State (No. 1:20-cv-00441)).

In January 2020, Judicial Watch released emails that included an August 2011 email from Abedin to Clinton stating: “Sent you a couple of text messages.” The email was among other emails that had only recently been found by the FBI and produced to the State Department. Last week, a federal court criticized the State and Justice Departments for providing no explanation about how these emails were found at this late date:

State failed to fully explain the new emails’ origins when the Court directly questioned where they came from.

Judicial Watch filed its recent FOIA lawsuit after the State Department denied any responsive records exist in response to two January 2020 FOIA requests for:

All text messages, encrypted app messages and instant messages involving official government business sent or received by former Secretary of State Hillary Rodham Clinton from January 1, 2009 through February 1, 2013.

All text messages, encrypted app messages and instant messages involving official government business sent or received by former Deputy Chief of Staff Huma Abedin from January 1, 2009 through February 1, 2013.

“Where are Hillary Clinton’s text messages?” asked Judicial Watch President Tom Fitton. “Judicial Watch uncovered the hidden Clinton emails and now we’ve uncovered that Secretary Clinton and her top aide Huma Abedin used text messages.”

In March 2020, U.S. District Court Judge Royce C. Lamberth granted Judicial Watch’s request to depose Clinton about her emails and Benghazi attack documents. The court also ordered the deposition of Clinton’s former Chief of Staff Cheryl Mills and two other State Department officials.

Additionally, the court granted Judicial Watch’s request to subpoena Google for relevant documents and records associated with Clinton’s emails during her tenure at the State Department.

Clinton repeatedly stated that the 55,000 pages of documents she turned over to the State Department in December 2014 included all of her work-related emails. In response to a court order in another Judicial Watch case, she declared under penalty of perjury that she had “directed that all my emails on clintonemail.com in my custody that were or are potentially federal records be provided to the Department of State, and on information and belief, this has been done.”

https://www.judicialwatch.org/press-releases/judicial-watch-sues-state-department-for-text-messages-of-hillary-clinton-and-huma-abedin/

The Powerful Moscow Rabbi Who Wants Draconian Censorship of Any Criticism of Jews

Moscow Chief Rabbi Pinchas Goldschmidt, president of the Conference of European Rabbis, hosted a high-level debate at the Munich Security Conference titled ‘Combating Hate Crime’. During the debate, he protested that people use their unregulated freedom of speech in social media to say things he and his fellow Jews don’t like:

The panel focused on the dangers caused by social media, including rampant anti-Semitism (exposing Jewish malpractice), far-right extremism (ethnic nationalism as practiced by Jews) and Islamophobia (opposition to Jewish fuelled migration), all of which have found new life online.

A key agenda point addressed how social media channels spread messages faster and more efficiently than ever before and that more needs to be done to regulate these channels. The speakers concluded that tech giants are unable to deal with forms of racist hatred (White preference for their own kind) and the dissemination of extremist (spreading truth) views across their platforms.

Goldschmidt called on governments around the globe to regulate social media to avoid what he calls ‘its misuse’. This would make it a crime to expose holocaust related fraud and Zionist atrocities committed against Palestinians and other non-Jews.

https://russia-insider.com/en/powerful-moscow-rabbi-who-wants-draconian-censorship-any-criticism-jews/ri28394

Orly Levy's flipflop kills minority government

Netanyahu worsens unity offer to Gantz.

Blue and White leader Benny Gantz’s chances of building a coalition took a blow on Tuesday, when Gesher leader Orly Levy-Abecassis left the Labor-Gesher-Meretz alliance and announced she would not back a minority government dependent on the Joint List of Arab parties.

Levy-Abecassis said publicly during the campaign that she had no problem supporting a minority government backed by the Joint List, but revealed on Facebook Tuesday that she had said the opposite privately ahead of the race.

She also endorsed Gantz and criticized Prime Minister Benjamin Netanyahu throughout the campaign. But she issued fierce criticism of Gantz on Tuesday.

“We are all witnessing leaders who promised to act with credibility and responsibility dealing these days with shameful courting [of the Joint List],” Levy-Abecassis wrote. “They are willing to pay any price in order to form a minority government even if it will rely on undependable people.”

Blue and White, Labor and Meretz officials expressed outrage at Levy-Abecassis’s zigzag. Meretz MK Tamar Zandberg called her a racist and said she had to quit the Knesset. But she received praise from Likud.

“The delusional idea of a minority government dependent on MK Ahmad Tibi and his friends has apparently died,” Likud minister Ze’ev Elkin tweeted.

Without Levy-Abecassis and rebel Blue and White MKs Zvi Hauser and Yoaz Hendel, Gantz does not have enough support to form a minority government.

Channel 12 reported that chances of a unity government also decreased on Tuesday, because the Likud decided to stiffen its offer to Gantz. If after the September election, Netanyahu was willing to let Gantz take over as prime minister after six months, now he will demand to stay in power for at least another year, possibly two.

The head of the Likud negotiating team, Tourism Minister Yariv Levin, mocked Yisrael Beytenu on Tuesday for issuing a series of demands for joining a Likud-led government. Levin said the demands should be sent to the Joint List instead.

Yisrael Beytenu chairman Avigdor Liberman met on Tuesday evening with the entire Blue and White cockpit of Benny Gantz, Yair Lapid, Moshe Ya’alon and Gabi Ashkenazi. They reported progress toward forming a government and avoiding a fourth election. Liberman will report back from the meeting to his Yisrael Beytenu faction on Wednesday.

To form a minority government, the Joint List will only need to vote in favor of the coalition one time and then cooperation with the list of Arab parties will end, Blue and White’s No. 2 MK Yair Lapid wrote on social media Tuesday.

Lapid responded to threats from Hauser and Hendel, who said Tuesday they would remain in the Knesset and oppose the government, even if they were thrown out of Blue and White.

He said that he, too, preferred a national unity government but it cannot happen because of Netanyahu.

https://www.jpost.com/Breaking-News/Orly-Levy-Abecassis-opposes-Arab-Joint-List-backed-government-620470

Russia Says It Can Weather $25 Oil For Up To 10 Years

Now that both OPEC+ and OPEC no longer exist, and it's a free-for-all of "every oil producer for themselves" and which Goldman described as return to "the playbook of the New Oil Order, with low cost producers increasing supply from their spare capacity to force higher cost producers to reduce output", the key question is just how long can the world's three biggest producers - shale, Russia and Saudi Arabia…

… sustain a scorched-earth price war that keep oil prices around $30 (or even lower).

While we hope to get an answer on both Saudi and US shale longevity shortly, and once the market reprices shale junk bonds sharply lower, we expect the US shale patch to soon become a ghost town as money-losing US producers will not be solvent with oil below $30, assuring that millions in supply will soon be pulled from the market, moments ago we got the answer as far as Russia is concerned, when its Finance Ministry said on Monday that the country could weather oil prices of $25 to 30$ per barrel for between six and 10 years.

The ministry said it could tap into the country’s National Wealth Fund to ensure macroeconomic stability if low oil prices linger. As of March 1, the fund held more than $150 billion or 9.2% of Russia’s growth domestic product.

Incidentally, this may explain why over the past two years, Putin has been busy dumping US Treasury and hoarding gold: he was saving liquidity for a rainy day, and as millions of shale workers are about to find out today, it's pouring.

https://russia-insider.com/en/russia-says-it-can-weather-25-oil-10-years/ri28397