Monday, September 30, 2019

Tidjane Thiam The Credit Suisse 'Spy' Committed Suicide !!






The Credit Suisse Group AG spying scandal that has rocked Swiss financial circles took a new turn on Monday , with the the Credit Suisse contractor ,Tidjane Thiam , who hired private detectives to follow a former top executive , Iqbal Khan, has committed suicide. The scandal unfolded on the streets of Zurich, where both Swiss banks have their headquarters (UBS is co-headquartered in Basel). It exploded into public view when wealth-management rainmaker Iqbal Khan, who had left CS after purportedly being passed over for promotion, realized that he and his wife were being followed while driving in downtown Zurich. For several days in September, a private investigator hired by Credit Suisse trailed the bank’s former wealth management head, Iqbal Khan, through Zurich, snapping photos along the way. The mandate: Find out whether he was trying to recruit colleagues to his new employer, UBS. On September 17, Khan spotted the investigator, people briefed on the events said, triggering a scandal that followed months of tensions between the banker and his former mentor, Credit Suisse chief executive Tidjane Thiam. The clash has captivated Zurich’s buttoned-up banking community, dominated Swiss tabloids and embarrassed Credit Suisse, a global bank and wealth manager. It is also unsettling employees, some who say they are spooked by the idea the bank is tailing executives, a practice lawyers say is rare. Credit Suisse contractor - who hired private detectives to follow a former top executive - has been suicided by "The Gnomes of Basel". He put two bullets to his own head...just to be sure . Vince shot himself twice in the head and the gun and car keys walked away, Epstein hung himself with a paper towel, Swissacide is amateur compared to Arkancide. The bankers lie, deceive, cheat, steal on a daily basis. Spying would be one of their smaller crimes. How are they able to get away with all this? Because they are a important part of the deep dark state, laundering billions in drug money.









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CNBC's full interview with Steve Bannon on the trade war and 2020



Steve Bannon, former White House chief strategist who is known as an architect of many of President Trump's "America First" policies, joins "Squawk Box" to discuss the latest news out of the U.S.-China trade talks.










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Deutsche Bank under money laundering investigation over Jared Kushner transactions



Deutsche Bank is reportedly being investigated for alleged violations of anti-money laundering regulations. According to a New York Times report, a probe is underway as to how the bank handled transactions labelled 'suspicious' by employees. They include some transactions linked to Donald Trump's key adviser and son-in-law, Jared Kushner. A former Deutsche Bank employee told the newspaper that the bank failed to file a report with US Treasury, even though the employee had flagged some questionable activity surrounding Kushner's company account in 2016.



















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Why Bank Bail-Ins Will Become the New Bailouts





A bail-in is when a bank recapitalizes itself by tapping its creditors, including depositors. Most people think of the money they deposit into the bank as a personal asset they own. But that’s not true. Once a deposit is made at the bank, it’s no longer your property. It’s the bank’s. What you own is a promise from the bank to repay. It’s an unsecured liability. That’s a very different thing from owning physical cash stuffed under your mattress. Money deposited into the bank technically makes you a creditor of the bank. You’re liable to get burned from a bail-in should the bank get into trouble . People in Cyprus had to find this out the hard way in early 2013. People awoke on an otherwise normal Saturday morning to the shock that the money in their bank accounts had been taken by a bail-in to recapitalize the banks. Welcome to The Atlantis report . The financial crisis of 2008 ushered in the term "too big to fail," which regulators and politicians used to describe the rationale for rescuing some of the country's largest financial institutions with taxpayer-funded bailouts. Heeding the public's displeasure over the use of their tax dollars in such a way, Congress passed the Dodd-Frank Wall Street Reform and Consumer Act of January 2010, which eliminated the option of bank bailouts but opened the door for bank bail-ins. So what is the difference Between Bank Bail-In and Bank Bailout . A bail-in and a bailout are both designed to prevent the complete collapse of a failing bank. The difference lies primarily in who bears the financial burden of rescuing the bank. With a bailout, the government injects capital into the banks to enable them to continue to operate. In the case of the bailout that occurred during the financial crisis, the government injected $700 billion into some of the biggest financial institutions in the country, including Bank of America Corp , Citigroup , and American International Group AIG. The government doesn't have its own money, so it must use taxpayer funds in such cases. According to the U.S. Treasury Department, the banks have since repaid all of the money. With a bank bail-in, the bank uses the money of its unsecured creditors, including depositors and bondholders, to restructure their capital so it can stay afloat. In effect, the bank is allowed to convert its debt into equity for the purpose of increasing its capital requirements. A bank can undergo a bail-in quickly through a resolution proceeding, which provides immediate relief to the bank. The obvious risk to bank depositors is the possibility of losing a portion of their deposits. However, depositors have the protection of the Federal Deposit Insurance Corporation (FDIC), which insures each bank account for up to $250,000. Banks are required to use only those deposits in excess of the $250,000 protection. As unsecured creditors, depositors and bondholders are subordinated to derivative claims. Derivatives are the investments that banks make among each other, which are supposed to be used to hedge their portfolios. However, the 25 largest banks hold more than $247 trillion in derivatives, which poses a tremendous amount of risk to the financial system. To avoid a potential calamity, the Dodd-Frank Act gives preference to derivative claims. When Bail-Ins Become Statutory . The provision for bank bail-ins in the Dodd-Frank Act was largely mirrored after the cross-border framework and requirements set forth in Basel III International Reforms 2 for the banking system of the European Union. It creates statutory bail-ins, giving the Federal Reserve, the FDIC and the Securities and Exchange Commission (SEC) the authority to place bank holding companies and large non-bank holding companies in receivership under federal control. Since the principal objective of the provision is to protect the American taxpayers, banks that are too big to fail will no longer be bailed out by taxpayer dollars. Instead, they will be bailed in. What's Europe Experiments With Bail-Ins . Bank bail-ins have been used in Cyprus, which has been experiencing high debt and possible bank failures. The bail-in policy was instituted, forcing depositors with more than 100,000 euros to write off a portion of their holdings. Although the action prevented bank failures, it has led to unease among the financial markets in Europe over the possibility that these bail-ins may become more widespread. Investors are concerned that the increased risk to bondholders will drive yields higher and discourage bank deposits. With the banking systems in many European countries distressed by low or negative interest rates, more bank bail-ins are a strong possibility. the solution : Let the banks fail. Put the owners and Boards in jail and then start the banks anew.









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Dollar is DEAD CURRENCY Walking - As De Dollarization Spiking Worldwide






The Department of Offense can and has attacked weak countries that dared to move away from the dollar, especially in oil trade. However, it has no power to challenge Russia and China. To the extent that Russia and China will use their military leverage to protect their investments overseas, The Dept of Offense doesn't even have sufficient resources to guarantee victory in a war against Iran. The dollar is already being replaced in various transactions around the globe. Trump has accelerated de-dollarization with his brainless trade wars. welcome to The Atlantis Report . For what seems like decades, other countries have been tiptoeing away from their dependence on the US dollar. China, Russia and India have cut deals in which they agree to accept each others’ currencies for bilateral trade while Europe, obviously, designed the euro to be a reserve asset and international medium of exchange. These were challenges to the dollar’s dominance, but they weren’t mortal threats. What’s happening lately, however, is a lot more serious. It even has an ominous-sounding name: de-dollarization. Meanwhile, in Latin America, de-dollarization is spiking, and Venezuela has stopped accepting dollars for oil payments . This first step towards one or more gold-backed Eurasian currencies certainly looks like a viable and—for a lot of big players out there—welcome addition to the global money stock. Meanwhile, Venezuela illustrates the growing perception of US weakness. It used to be that a small country refusing to take dollars could expect regime change in short order. Now, maybe not so much. Combine all this with the emergence of Bitcoin and its kin as the preferred monetary asset of techies and libertarians, and the monetary world suddenly looks downright multi-polar. There is a steady decline in dollar reserves and it will continue until we hit the panic button with the Fed reaching zero and the West coordinating fiscal spending to fight recession. It is the resulting stagflation that will kill dollar dominance as nations and individuals seek alternative stores of value. Check the decline in global oil sales made with petrodollar. Think hard about what is going on in the middle east. No Iranian oil will ever be sold in dollars again (Euro is fine). No Syrian oil. Ditto Venzuela for now. Saudi Arabia is selling MUCH oil to china for Yuan. Russia no longer requires dollars for oil sales. You will still be able to pick and choose and tweak and twist certain statistics about the dollar's immutability, month after month, year after year, but the rate of change has several "tells". The US dollar liquidity dump into the money losing black hole of its derivative "shale fracking" miracle being one of them. The dollar is dying. You can't create trillions of dollars out of thin air every year without inflation. It's already 9%. It's going to go much higher. Anybody who's remotely informed is dumping their dollars and buying precious metals. China is buying oil from the Middle East using their own currency. We're at a point in time where the dollar could be devalued at any moment in order to make the debt more payable. Only in America are people not seeing how other countries are getting out of the dollar. 22 trillion dollars in federal government debt , plus 40 trillion in private debt ,mostly ignored. more important than state one/ plus more than 2 trillion in student debt etc... The USA is a completely broken country. With the negative interest rates coming online and high inflation, fiat currencies clearly failed on their store of value attribute. When we start seeing Bank Bail-ins, it's gonna mark the end of the Fiat experience, Austrian values will kick in and maybe we'll have some sort of natural economic restart.








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Rob Kirby : Global De Dollarization has to do with The Booming Oil and Gas Industry









There is indeed a steady decline in dollar reserves and it will continue until we hit the panic button with the Fed reaching zero and the West coordinating fiscal spending to fight recession. It is the resulting stagflation that will kill dollar dominance as nations and individuals seek alternative stores of value. Welcome to The Atlantis Report . In his latest interview with with USA Watchdog , macroeconomic analyst Rob Kirby thinks the dollar shortage and liquidity crisis has something to do with the booming oil and natural gas industry. Kirby points out, “America is producing an awful lot of energy, but they are not making money doing it. What is it that would make them want to do that? That’s when I started thinking about the rest of the world or the rest of the story. The rest of the story goes something like this: Venezuela used to sell all of its oil in dollars. Russia used to sell all of its oil in dollars. Iran used to sell all of its oil in dollars. Iraq used to sell all of its oil in dollars, and up until very recently, Saudi Arabia used to sell all of its crude oil in dollars, but I believe they are now selling some of their oil in currency other than dollars. So, we have many millions of barrels of oil that were formerly transacted in dollars, and these barrels of oil are now being priced in other currencies. The dollars that used to buy that oil are now looking for a home, and they didn’t have a home. So, America had to create a home for those dollars, which is why America has ramped up their crude oil production. In the 2004 time period, America’s oil production bottomed out at 4 million barrels a day, and now it is producing 12 1/2 million barrels a day making it the world’s largest producer of crude oil. These barrels America is producing are all being sold for dollars. They needed a place or a home for those dollars. Let’s just say the dollars that were left over when Venezuela, Iran and Russia stopped selling their oil for dollars created a spill on the floor, and they needed a sponge to soak them up. That’s why American crude oil has gone up dramatically, and that’s why American oil production is forecasted to grow even though they are taking losses on every barrel they are producing. Kirby goes on to say, “Global dollar rejection is why America had to ramp up American oil production to begin with and global dollar rejection is accelerating. This is not going to stop. So, America is going to need to produce more and more dollars to soak more oil priced in dollars that America will produce at a loss. . . . Creating all this extra oil and pricing it in dollars makes the dollar look strong. Nobody producing these incremental barrels are making a penny. They are all hemorrhaging cash. The fact that all these dollars that are going into something that is hemorrhaging cash and losing money is the real reason why there has been no inflation. All these unwanted dollars are financing money losing operations. If these dollars were going into things that made money, the returns would be invested and would be causing observable inflation. The opposite is occurring, and the dollars are disappearing.” Kirby predicts, “There will come a day when foreigners will collectively say no more dollars in trade. The day is coming.” In closing, Kirby also says that President Trump is surrounded by people who do not tell him the truth. Kirby contends, “I don’t believe President Trump is informed. I do not believe the people around him would dare inform him with the truth because they would be afraid of what he might do in reaction. So, information is being withheld from the President, and he has a bunch of treasonous dirt bags basically surrounding him. . . . America is not in a good spot right now nor is the world by extension. . . . I don’t see many bright lights on the horizon, and I think where we are headed is a pretty dark place.” Rob Kirby is right on the money. President Trump is surrounded by scum bags, they are going to continue to keep Donald Trump in the dark, his cabinet and government employees will continue to leak like a sieve and the problem the United States is facing is since 1913 there has been no lawful money of account. The federal reserve is a well crafted slave plantation scam and it’s been over for the federal reserve for a long time now. They have kept the fiat dollar alive by gimmicks that are running out for their economic scam. The truth is the United States has no laws in effect, it’s a pirates ship of Official Pirates, my term for Officialdom is accurate in that Public Officials and Public Employees are “Pirates of the United States Constitution and Bill of Rights”. The whole nation is operated on contracts and some contracts will be enforced if it benefits Officialdom and their pirate federal reserve system. Every State Governor is the head pirate in each State, it does not matter what private political party they belong to, US politicians are scum of the earth, the child trafficking, human trafficking, child stealing is operated by the Feds and Statees is just one racket of many. The whole dollar system is fiat currency of no account is lawless. The fiat dollar printed on demand or burned in a barrel is not lawful money of account, it is a debt instrument enforced at the barrel of a gun in all fifty states by the so-called courts, enforced all around the world by the US Military, that is why there are near 800 US Military bases around the world, to enforce the dollar on behalf of the federal reserve banks and US Politicians. The United States is suffering the rejection of the dollar for many reasons, one reason is the United States contracts are no good, worthless contracts and now everybody around the world has enough experience with US Officialdom to know they are no good, the fiat dollar is no good and the majority of the world is moving on and using currencies that are reliable, redeemable and of account. The only thing US Politicians are good at is crime against the people, waste, fraud, abuse, child stealing and lying every time they open their pie hole and spit out their latest lie, scam, fraud or whatever they are spewing. The problem that Officialdom has is that now a large majority of the US population acts like US Politicians, monkey see, monkey do. You can not expect much when the entire governmental system is lawless and they have done that willfully, knowingly and voluntarily. The Statees are out cremating human remains against the will of parents, creating fictitious obligations with the help of the Feds along with kidnapping, sponsoring kidnapping, forced and un-authorized enlistments of children into the United States Military, getting children to waive their rights by US Military legal departments getting recruits to sign away their rights by trick and schemes of Official frauds. All these crimes are occurring because there is no law in effect in the United States, the entire government is being operated on “emergency rule”, the emergency is the US Government has no lawful money of account and they have no law. That is the US emergency, printing federal reserve notes is a temporary gimmick that has been in use since 1913 when Congress gave away their authority to private bankers. Congress has no power, they gave away their power by contract to the private federal reserve bankers (the power to issue currency and regulate the value thereof ), that is why Congress and the Senate is packed with incompetent politicians and bar association attorneys. All you have to do is observe the above for yourself to see what is going on. Those private bankers as owners are making all the decisions and US politicians are the water boy / water girl carrying out the decisions made by the owners to the masses of Americans who will suck it up and consume those messages from the private banker owners. As more Americans awaken from their stupor, the worse conditions will get in the US. By the time a critical mass of 3% of Americans awaken to the scale of the crimes by Officials masquerading as Officialdom, when the big shift in consciousness occurs you will know when you see Washington DC is abandoned, the State houses abandoned, sitting empty while the whole control structure collapses. The outfits styled as “law enforcement” are not allowed to enforce the law, they have been limited by their owners the private bankers, private bar associations and other public pretenders to revenue raising schemes, cover ups on behalf of corrupt US officials, Corrupt Bankers, Corrupt Government Employees and mass arrests for use by corporations in slave labor camps styled as US Prisons and State Prisons, slave labor is what 85% of the US Prison population exists for that purpose alone. You might have the other 15% of the US Prison population as actual convicts of common law crimes and in that 15% is the medical cases of sociopaths and psychopaths, a group of people who did not make it into a US political office before they committed their crimes, they didn’t get their position as a banker, judge, attorney, ceo or whatever before securing an office that flies under the banner of “too big to jail” “too big too fail” , had that 15% waited to secure an office first they would not be in prison today. True story. One thing for sure for the US is we can see the decay, the collapse everyday, look at the degeneracy of the nation and those people are a mirror image of their so called leaders. The fracking business is to help paper over the loss of the international states rejecting the worthless federal reserve note debts. Public Official Corruption in the United States is massive in scope and massive in nature as the three bubbles begin to pop in real estate, automotive, stocks/bonds, insurance and Government, they will not be able to print enough money to cover it up, even with Warren Buffet and his cronies in Omaha, Nebraska in Turdshire Castaway. Public Official Corruption in the United States along with other corrupt officials has infected the general population with their lawless rackets, fiat currency, human trafficking, corrupt scummy government religious corporations, dirt bag bar association attorneys, the importation and encouragement of illegal drug use and other crimes against the families and their hatred of American families are just a glimpse of the crimes occurring in the State occupied courthouses (formerly known as county courthouses). My prediction is the corrupt officials will all flee when the big ship of state goes down and they no longer can hide behind the government corporate shield of limited liability, those famous Official capacity defenses without standing, those public pretenders in black dresses will run out and corrupt law enforcement will burn their uniforms when their revenue schemes are no longer feasible or profitable for their corporations. But hey I am just a man in a flyover State.


















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The Economic Collapse Will Bring Starvation And Most Will Not Survive


The Economic Collapse Will Bring Starvation And Most Will Not Survive














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Edward Snowden on Trump, Obama & How He Ended Up in Russia to Avoid U.S. Extradition


We conclude our interview with NSA whistleblower Edward Snowden, who has just published his memoir titled “Permanent Record.” In 2013, after quitting his job at the NSA, Snowden attempted to fly from Hong Kong to Latin America in order to avoid being extradited to the United States. But the U.S. revoked his passport when he stopped through Russia, effectively stranding him there. Snowden has lived as an exile in Moscow ever since. He tells us his story.











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Money : The American Nightmare










A magnificent overview of America’s economic difficulties that succinctly points out the root of the problem: the Federal Reserve. Time to end it. Welcome to The Atlantis Report . What made America great was the fact that the average Joe could work hard and provide for his family. It was called the American Dream. But somewhere along the way something went wrong, and the dream became a nightmare. The biggest culprit in the death of the American Dream is the US Federal Government. In general, when a government stays put and does not infringe on the personal and financial lives of its people, one can almost bet that things will remain pretty stable. However, sooner or later a Government becomes a Frankensteinian operation that must feed its Gargantuan creature called Bureaucracy. And the only way to feed that giant monster is with money, which then becomes the State’s obsession since it can never have enough. Soon the State’s relationship with the citizenry it was meant to serve becomes exactly like that of a two-bit Mafia don with its coerced victims: “I want my cut. Capisce?” Eventually the State’s obsession with money trickles down to every stratum of society. As Newton’s third law of motion proved, for every action there is systematically an equal reaction accompanied by opposite reactions no one expected. And that’s what went wrong in America. As the money obsession spread, money morphed from a means to an end to the end of all means, with terrible consequences. The purpose or the end of money has become money itself. As a result, all responsibility has been thrown out the window. The problem began at the Federal level when the US Government (USG) allowed the Federal Reserve System to come into existence, without any Congressional oversight and without Constitutional Ratification. The Fed – as it is called – is a private institution disguised as Federal that creates money out of thin air. Its primary purpose is to enrich its secret and not so secret members via unlimited money printing. Its secondary purpose is to feed the USG’s gargantuan operations – at the right interest rate, of course. Hence to the Fed money is its own end. It creates money to get money. And the reason it is so is because the con-artists who control it via their private banks made it so. The robber Barons of old used money as a means to develop the United States by creating infrastructures and industries. But not today. Our contemporary robbers only want money for money’s sake. They create money with no worth (i.e., with no gold or silver to back it up) and give it the veneer of value through various money market instruments. The Fed is an ungodly printing machine of fiat money or paper money solely at the disposal of irresponsible money-addicted monsters who can never accumulate enough. When a mom and pop business takes roots, its purpose is to take care of the family. Its end is noble. However, as mega corporations displace the majority of the mom and pop businesses throughout the US, their only purpose becomes the satisfaction of their greedy shareholders who apparently can never get enough profit. Thus profit becomes the ungodly god. If there is not enough of it, employees who depend on their jobs to care for their families are laid off without any sense of responsibility or mercy, while CEOs still get to cash their multi-million dollar paychecks – salaries that could easily be reduced and redistributed to keep more employees on board until a recovery. In truth, these CEOs need a Heart Adjustment. The bottom line is no longer the family’s well-being, but the profit margin of corporations and the padded bank accounts of their executives. Though there are many good Americans throughout the land who still espouse good old fashioned morality, there are also many who embrace greed as their primary end in life. Greed is an ungodly cancer that plunges those who harbor it into moral and spiritual bankruptcy. Strangely, it’s not just the rich and the super rich who are infected with its virus. Millions of Americans want money the easy way, just like the Fed. If you doubt it, then go to to a place where they sell that government-controlled monopoly scam called Lottery, and take a gander at that long line of folks hoping to win their ticket to unlimited money printing. Greed can be the poor or middle class man’s obsession as well. And that’s why credit cards have also been made readily available, thanks to the Fed’s “largesse.” The idea is to drive people into high interest debt which they accumulate purchasing trifles they don’t really need. So the indebted juggle many jobs, not to feed their families, but to pay off their irresponsible debts and further enrich greedy banksters. At the Federal level the aftermaths are numerous. #1) Inflation. Before the creation of the Federal Reserve in 1913, there was barely any inflation (except mostly during times of war and conflict). However, following the Fed’s money printing addiction or Q.E. (Quantitative Easing), change in prices skyrocketed – get ready for a $10 loaf of bread soon. The Fed’s incessant and irresponsible money printing, or QE ad infinitum, has debased the currency and vaulted the cost of living through the roof, and the average family can only struggle to make ends meet. #2) Taxes. To pay the shysters at the Fed who convinced the USG bureaucracy to borrow from them, Federal Income Taxes began their reign of terror, even though in 1895 the US Supreme Court ruled that the Income Tax was unconstitutional. Consequently, in 1913 – the same year the Fed was founded, no coincidence there – Congress, according to Tax Foundation, passed “the 16th Amendment to the Constitution (which) made the income tax a permanent fixture in the U.S. tax system. The amendment gave Congress legal authority to tax income and resulted in a revenue law that taxed incomes of both individuals and corporations.” However, according to some experts, said Amendment was not properly ratified by all 50 states and therefore is invalid. No surprise or coincidence there either. In other words, the USG created a problem called the Fed which they squarely laid at the feet of the American people. In so doing, the USG continually extracts pounds after pounds of flesh from American families, and in the process turns Shylock into a Saint. See Was Shylock a Jew? #3) Wars. To encourage the USG to borrow more money, the secret members of the Fed coerced it into various wars, which in turn caused the Income Tax to rise significantly along with inflation, thereby imposing an even greater burden on the American people. “Almost all wars, in a hundred years or so, have been paid for through inflation, that is debasing the currency,” explained Ron Paul. #4) Corruption. As the Fed befouled the members of the USG and Congress through bribe and coercion, mega businesses and groups of the super rich also began exerting their influence by buying their way in. It is no wonder that almost every federal agency (i.e., FDA, EPA, etc.) has also become corrupt, pimping for the likes of Big Pharma, Monsanto, etc. without any regard for how their decisions affect the well being of American families. “ (America) is just an oligarchy with unlimited political bribery being the essence of getting the nominations for President or being elected President. And the same thing applies to governors, and U.S. Senators and Congress members,” revealed former President Jimmy Carter. Supra-billionaire George Soros said in Open Society: Reforming Global Capitalism Reconsidered that, “Individual states and national populations should not be allowed to govern their own economic affairs – instead, this process will be accomplished by a global financial elite.” Oh, really? #5) Unemployment. Mega Corporations bribed Congress to pass various International Trade Agreements that siphoned thousands upon thousands of manufacturing jobs out of America. These companies then conveniently shipped these jobs overseas in order to pad their bottom line using cheap labor, which could have been found in the US if inflation created by the Fed did not cause costs to skyrocket. #6) Police State. In order to keep the Fed and Big Business in control of the USG, a Police State has been erected to keep the sheeple docile. It has become so bad that the People’s Representatives even vote against the will of the people they supposedly represent, not feigning so much as a modicum of care for the wishes of their constituents. Said disposition has firmly trickled down to cops who have turned savagely wild on those they have sworn to protect and serve. So how come the American people keep voting back in office all these so-called Representatives of the People? Maybe the American people are not to blame. Maybe the computers tallying the votes are rigged. #1 . The Financial chaos. It’s been an ongoing problem in the American household for quite some time. Samuel J. Gerdano, executive director of the American Bankruptcy Institute, said: “A combination of economic stress, including high debt loads, rising unemployment and unsustainable mortgage burdens, left many consumers with little choice but to seek the financial relief of bankruptcy. “Consumer filing totals have fluctuated over the past decade as there have been changes in law in addition to the housing and financial downturns. The year 2005 saw a high mark of 2 million consumer bankruptcies.” So what did Congress do to corner the consumer and favor the bankers? It enacted the Bankruptcy Abuse Prevention and Consumer Protection Act, which tightened requirements for filing. “Consumer filings then dropped to 600,000 in 2006, but then rose each year until they registered over 1.5 million filings in 2010 amidst the housing and financial downturns,” further explained Gerdano. #2 . The Family chaos. The family unit in America is fast disintegrating. The causes are numerous: lack of jobs, debt that causes stress, breakdown of moral principles, the constant pursuit of the dollar above family relationships, etc. These cause marital friction and then divorce. It is estimated that close to 50% of couples who get married end up calling it quits. The obsessive pursuit of money for money’s sake has failed America. From the moment said objective was set in motion, America was doomed. To an individual a noble purpose is important, and equally as significant are a Corporation’s goal and a Government’s mission. If the object of any entity is money above everything else, sooner or later a breakdown will materialize. For example, the reason the Godfather movie series was a success was because of one simple factor. In the midst of all its crimes and conspiracies to commit more crimes, the heart of the storyline (its objective) was family – you don’t mess with the family and you don’t betray the family. Everything the head of the Corleone clan did was to protect and provide for his family, which he saw as his main purpose and duty – though we by no means approve of his immoral methods of achieving success, something the storytellers made sure he paid dearly for and something the Don himself no longer wanted to rely on. The strength of The Godfather’s family unit and the might of its Patriarch – especially in the midst of a women’s lib movement trying to unseat man from his God-given role within his family – were what really stirred and still stirs the endearment cinephiles all over the world feel for the series, even if most people don’t realize why they love it so. These powerful undertows resonated loudly, and together with masterful filmmaking and acting catapulted the movies amongst America’s top classics and consolidated their enduring appeal. Check your TV listings, they’re always showing somewhere. Not too shabby for a mostly made-in-the-70s movie series. What other flicks – especially made during that period – can claim that? It’s time for America (and most of the world that follows America’s lead) to go back to the basics. It’s time to rediscover mankind’s true objectives. It’s time for God and His laws, loving patriarchal family, and purposeful responsibility. In other words, money needs to be redefined as a refrained and practical means to these ends, while the intrinsic value it once possessed (with precious metals) needs to be reinstated. However, for Money to ever recover its worth we must end the Fed. “The love of money is the root of all evil.” 1 Timothy 6:10 The pursuit of Money above everything else has even trickled down in the Church, where the relentless quest for earthly riches has replaced the truth of God’s Word and His plan for the family.









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Kyle Bass: Chinese should adhere to US law to raise money here



Kyle Bass, Hayman Capital Management founder and CIO, joins "Squawk on the Street" to discuss news that the U.S. could be considering delisting Chinese companies from U.S. exchanges.
















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Sunday, September 29, 2019

Hungary’s Gold Repatriation Adds To Growing Protest Against US Dollar Hegemony





Hungary’s central bank announced that after 32 years of holding unchanged gold reserves, it had rapidly increased its monetary gold holdings by 1000% or 10 fold, from 3.10 tonnes to 31.5 tonnes, and also repatriated (brought home) this entire holding from London to Budapest, away from the clutches of the Bank of England. Hungary’s Gold Repatriation Adds To Growing Protest Against US Dollar Hegemony There is real risk to holding its gold in London, something that was also clear in the repatriation decisions of central banks such as Hungary and Austria, and perhaps crystallized by the Bank of England’s brazen confiscation of Venezuela’s gold in London last year. Hungarian National Bank (MNB) to repatriate 100,000 ounces gold from Bank of England . Follows trend of Netherlands, Germany, Austria and Belgium each looking to bring gold back to home soil . Hungary is one of the smallest gold owners amongst central banks, with just 5 tonnes . Decisions to repatriate and increase gold reserves come as rifts between East and West widen . Poland joins Hungary with Huge Gold Purchase and Repatriation . Poland and Hungary also still use their own currencies, the zloty and forint, respectively, and while their central banks are members of the ESCB, neither are part of the Euro and fully answerable to the ECB. Which also explains their freedom to maneuver and pursue their own reserve management agendas, something that full ECB members banks cannot do independently. Importantly, as non Euro members, the Hungarian National Bank and National Bank of Poland have never been signatories of the Central Bank Gold Agreement (CBGA) syndicate, and thus have the freedom to buy gold when they feel like it, unlike the CBGA signatories which more and more now appear to have signed up to a pact to avoid purchasing any gold as well as avoiding selling any gold. Whatever the exact motives, both Hungary’s and now Poland’s gold purchases and repatriations are sending clear signals to the EU elites that in the realms of both politics and monetary policy, the two countries still have an independent streak and sense of national sovereignty found lacking in many other EU member nations. For now, the final word goes Polish central bank president Adam GlapiÅ„ski who said in the 5 July announcement, that: “I am proud and moved that during my term – in the year in which we celebrate the centenary of the Polish zloty as the foundation of our country’s economic strength – we managed to increase strategic gold reserves and take actions to repatriate a significant part of Polish gold to the country. By implementing our constitutional, statutory and simply patriotic commitment, we not only build the economic strength of the Polish state, but also create reserves that will safeguard its financial security. This is the global trend, but also the expectation of Polish society.” A country’s sovereignty is becoming the driving force of so many changes in the geopolitical sphere, today. Whether it is Brexit, surprise electoral victories in central Europe or a change in trade deals, sovereignty is at the forefront of so many of these decisions. One of the first indicators that there was a change in the water when it comes to globalisation and international cooperation was through central bank gold buying and repatriation. For some time now many central banks have been working on building up their gold reserves and ensuring they are stored on soil it believes to be safe and trustworthy. The most recent central bank to make this change is that of Hungary. Last week it was announced that it intends to bring 100,000 ounces of its very limited 5 tonnes gold reserves, back home from the Bank of England. This is not an unusual move. In recent years we have seen the likes of Germany, Venezuela and the Netherlands each repatriate their gold from various locations. The pace does appear to have been picking up since the late Hugo Chavez decided to bring home 180 tonnes of gold in 2011. Furthermore, huge central banks namely Russia and China have been adding to their gold hoards, one more publicly than the other. Both have also been encouraging the use of gold as a means of payment in international trade as a means of avoiding US dollar hegemony. The decision to place more focus on gold reserves is a statement by central banks and their governments to reduce the counterparty risk on their reserve assets. When holding another country’s currency you are vulnerable, the same applies to when a third-party holds your gold at a time when their own assets are perhaps more exposed than you’re comfortable with. Hungary’s decision on gold repatriation was not something that made the mainstream news. After all, 100,000 ounces is very little when you consider than Russia increased its physical gold exposure by 20 tons in January 2018 alone. Hungary decision is, however, a major comment on the current mindset of countries that feel they need to start working to protect their finances and borders. Hungary’s political changes are widely known and have been criticised extensively by both the EU and wider Western world. The decision to bring gold home is a statement that says Prime Minister Viktor Orban would rather have the country’s assets close to home rather than in the hands-off a country that perhaps does not have his own best interests at heart. This is a common theme, not just reflected in gold repatriation decisions but also in gold purchases. Russia, China and Turkey have each materially increased their gold reserves in recent years. Since March 2015 Russia has bought gold every single month. January’s purchase took their reserves above those of China, a level which had previously been monitored as an example of the East’s great interest in moving away from US dollar dominance. China has been famously coy about its gold reserves. apart from the period from July 2015 to October 2016, China only reported its gold reserve increases at various multi-year intervals. Most recently it has been reporting zero additions to the IMF. Russia’s reasons for buying so much gold is akin to those of China, Turkey and smaller countries such as Kazakhstan. Gold gives each of these countries independence from the US dollar amid financial sanctions, trade wars and ongoing posturing by the West. Whilst many in the West are dismissive about gold, the behaviour of central banks suggests quite a different mindset. The top four holders of gold are all from the West. Germany, the second largest has been making big strides of late to show their interest and faith in gold. Not only did they make the decision to repatriate a late proportion of their gold back to home soil but they also recognised that transparency when it came to the country’s gold reserves was paramount. ‘…another milestone and a global first, an additional fourth step towards increasing transparency was taken with the publication of a list of all German gold bars, totalling around 270,000 in number. The Bundesbank has now published this roughly 2,400-page list three times since October 2015, even though it involved a series of significant challenges. There is no ‘blueprint’ for inventory lists of gold holdings and, in 2015, virtually no central bank in the world had ever released such a list.’ Act like a central bank Gold cannot be devalued as the euro, dollar, sterling and all fiat currencies currently are. It cannot be confiscated as can deposits through bank bail-ins and it is extremely difficult to confiscate gold coins and bars if owned in allocated and segregated storage in safe vaults in the safest jurisdictions in the world. Gold is a borderless money that acts as the ultimate reserve and safe haven in a diversified portfolio. This is something central banks are strongly aware of. The difference between the East and West banks is that the East is making big strides to bring gold to the forefront of their international affairs. By adding gold to their reserves they are gaining equal footing with Western banks who have so far tried to dominate under a US-centric financial system. Much of the above may sound as though it does not apply to the everyday saver and investor, but that couldn’t be further from the truth. The decision to move assets into physical gold is a decision to take control of your portfolio and to reduce the counterparty risk to which it is exposed. This is no different whether you are a bank with billions or a person with a few thousand. Gold is the equivalent of nuclear weapons when it comes to international finance. Want a seat at the big boy table, Then you better have your own currency, your own gold stored in your own vaults, and your debt/gdp and trade balances in order. If you don’t have those things, when the big boys do get together to reset the monetary system, you’ll be like a U.N. country that isn’t on the security council with a thousand nukes in its back pocket. Sure, you can voice your opinion, and maybe they’ll even let you vote. But your vote doesn’t mean squat. They don’t have to take your vote into account at all. Remember the golden rule: He who has the gold, makes the rules. Well done Poland and Hungary . Keep going.






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RED ALERT : China Developed its first AI Chip In Move To Reduce Reliance On US Tech






After US Dark State and Donald Trump tried to kill off Huawei by blacklisting this Company, it will be extra stupid for any Chinese companies to continue to rely on US technologies. President Trump did not understand from the past that the best way to keep your adversaries from technologically overtaking you is never to embargo technology. When the cat is out of bag, it's no longer yours. welcome to the Atlantis report . In a breakthrough and in a move to reduce its reliance on U.S. technology, Alibaba has unveiled its first self-developed artificial intelligence chip for data centers, according to Nikkei. The move also shows that Alibaba, formerly just a software and e-commerce company, is now following in the footsteps of companies like Google and Amazon to become a "serious player" in hardware. Jeff Zhang, Alibaba chief technology officer said at the company's cloud computing conference last week: "This is just the first step of a 10,000-mile journey. Alibaba is confident that we are not only capable of doing what a traditional hardware company could do but also capable of accomplishing what they could not do." The chip is called the Hanguang 800 and has power equivalent to 10 GPUs. Zhang said the breakthrough is already making a difference in Alibaba's e-commerce business. For example, it used to take an hour for Alibaba's online marketplace to process a billion product images for its website. That job can now be done in just 5 minutes using the company's new chip. "The launch of Hanguang 800 is an important step in our pursuit of next-generation technologies, boosting computing capabilities that will drive both our current and emerging businesses while improving energy-efficiency," Zhang continued. The company didn't say whether or not it would replace the GPUs it uses with its own AI chip on a large scale, but Jack Ma - who has been the beneficiary of "reliance" on the U.S. capital markets to the tune of billions of dollars - has said he desires to reduce his company's reliance on U.S. chips. Most processors now used by the company for AI workloads are made by U.S. chipmakers like Nvidia, AMD and Intel. Sean Yang, an analyst at Shanghai-based CINNO said: "It's not too surprising that Alibaba would develop its own AI chip as it deploys data centers on a massive scale across China and in some emerging markets. AI computing is quite fragmented and every tech giant has different needs." The pursuit of custom AI chips has been widespread among technology heavyweights lately. In 2016, Google announced its own chip that would compete with Nvidia for training AI models. Facebook also recently announced ambitions to create an AI chip. Last year, Amazon unveiled its own chips as an alternative to traditional computing processors for AI projects. "The new announcement on AI chips can be viewed not only as an effort to decouple from U.S. chipmakers, but from a business point of view, it's also a way for Alibaba to build more customized and competitive data center cloud service to compete with rivals like Amazon, Google, Tencent and Microsoft,” Yang continued. Alibaba remains the leader in China's public cloud market, but Tencent is catching up. According to IDC data, Tencent achieved a market share of 11.5% last year - far behind the 43% share of Alibaba Cloud, but a marked improvement from 7.4% in 2016. Globally, Alibaba ranks third in cloud computing, behind Amazon and Google. If any of you had ever read technical publication you might understand who is doing the research and it is not the MAGA fanboys. To make America great, Citizens need to be great. Congress is the lowest common denominator. This is a serious issue. We are losing our technological edge. Americans aren't participating not only in our universities, but our national labs! The Predator Class says : Why train Americans That will cost us money. Better to import talent from around the world and let Americans shine their shoes . The Chinese, whether you like it or not, will go light years ahead, and US will chase them breathless .This is just the beginning folks ... And I am really tired of hearing some Americans moan that the Chinese steal all our 'great' ideas. Maybe they did, but that was then, and this is now. Their engineers and scientists are just as good as our best. And they are going to eat our lunch. Too many people confuse China with Japan. China has a very, very long history of inquiry and innovation. Its culture is much more diverse and wide-open than Japan's. It is simply bigger and broader, in every way. I'm not a friend of China, but I think it has everything it needs to become the global leader that Japan can never be, if it plays its cards right. I love Japan, but I know that it's too locked-down, and imitative. Also, despite their occasional stabs at greatness, the Japanese are generally happy to come in a close second place and let someone else some show the way. Unlike China, Japan doesn't value education or knowledge for their own sake, but as means to an end. At the end of the day, the Japanese are too pragmatic and sensible for their own good. Look at what China has done. They've compressed a good two or three hundred years of progress into a few decades, lifting hundreds of millions of their people from sustenance poverty to what is effectively a first-world standard. What they've achieved so far makes the Japanese economic miracle after WWII look like a toy. I don't care how they achieved it, I don't care how much of that was copying, that's damned impressive and I take my hat off to them for it. If you were China, what would you do ! It is the obligation of every nation to develop itself and TAKE CARE OF ITS OWN FIRST, period. That's what a "nation" is, that's what a nation does. The failing Western nations now gleefully committing economic, cultural, and demographic suicide have no moral authority to whine about China's behavior, especially after they spent the last 200 years robbing it blind. Psychologically, the West has already lost. It's given up on itself. If China can stay its course and avoid catastrophic political instability, it will overtake the West completely within 15 to 20 years at the most, and probably sooner. Thank You ....










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The Crazy World of Negative Interest Rates






There are a few countries around the world where interest rates are so low, they’re negative. Japan, Germany, Denmark, even the European Central Bank itself have moved rates into negative territory in recent years. Savers in Europe are having to pay to store their wealth. “Negative interest rates as a concept is really something that makes your head spin, Rate are only negative cause they’re messing around in our markets . Are negative interest rates an artificial phenomenon that central bank technocrats have foisted on the world? Or can interest rates naturally turn negative, of their own accord . This is an increasingly relevant question. Even the German 30-year bond rate recently went negative , hitting -0.006%. Why would anyone want to buy a 30-year German bond that yields -0.006%? Combined with expected inflation of 1.7% per year, that’s a dismal -1.706% real return! Welcome to The Atlantis Report . Historically, negative real returns on stores of value were the norm. Before financial systems existed, almost all investments had negative returns if you didn’t put work and energy into them. To store value, you had to accumulate stuff, buildings or land. Most options either had high maintenance costs, were subject to risk of damage from natural causes and theft, were very volatile or required hard labour to get production out of. The corollary of all this is that central bank created fiat assets can, even at 0% interest, have returns above what private markets marginal asset can return (on a risk adjusted, liquidity adjusted basis). When they do this (like the ECB is currently doing) it puts a gridlock in the private asset market, creates an indirect massive economy wide subsidy on job destruction and on pulling resources out of the real economy and generates an untold amount of suffering. Who would invest in private assets when you can get government paper with above market returns. The only winners in the ECB situation is countries such as Russia and China who are emboldened by the west's economic weakening. In the regions that trade in euros, everybody loses. The rich lose, the poor lose even more. It's all so sad... And guess who is buying the negative yielding bonds. Oh yeah, it's central banks. Without the environment created by the central banks, you wouldn't get to this loop. Central banks buy each other's debt all day and night. It would be interesting to see prior to the fed (1913)if this happened. Gold and silver very deflationary. This nonsense can only occur from a fractional, fiat, Ponzi, central banking scheme. Temporarily suspended the redemption in gold, is almost exactly 48 years ago. Only in a system where a few lend money they created out of thin air at interest, or simply type digits onto a screen, do these money changers enslave all of humanity, as mankind fights for democracy, and what can be given for free. Yes, the central bankers are rotten. So don't use there currency, let's move on without them. They offer no real skills anyways.









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Clashes with riot police turn violent in Hong Kong



Protesters and police clashed in Hong Kong for a second straight day on Sunday, throwing the city's business & shopping belt into chaos.











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Michael Pento - Fear the Repo Man








Since debt was created, the Repo Man was there to handle defaulting debtors. There's a new Repo Man in town and that's the Federal Reserve. They are there to turn bank's paper into cash and bank's cash into paper. Since 1917, it all worked very well except for a few noteworthy events, like 9/11 and 2008, when the markets seized up. Now it's happening again. Why is there no liquidity? Where did all the buyers go? Michael Pento understands where the economy is headed, but he believes you should be earning an attractive return until the last domino falls. And what's wrong with that?





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The Spy in Your Pocket: What the Smartphones and Social Networks are collecting about You!





Sophisticated software can allow hackers to remotely install spyware on their targets’ phones. This gives them access to everything on the devices – including encrypted messages – and even allows them to control the microphone and camera. Everything on your smartphone is compromised and accessible. The phone can forward messages, record audio, take videos and track your location. If you want your privacy, not a good idea to have a mobile.And leave it at home when you go to protest like everything that has chips in it like your plastic money or even paper money. Welcome to The Atlantis Report . The explosive claims made by WikiLeaks, that the CIA can turn popular smartphones and televisions into remote spying devices — highlights how unwitting consumers have allowed their love for electronics to make them vulnerable to covert surveillance. The leaked documents call attention to how consumers have unwittingly made themselves vulnerable to hacking through the widespread adoption of smart mobile devices. Over the past 10 years, smartphones have taken the consumer electronic market by storm. The vast majority of Americans – 96% – now own a cellphone of some kind. The share of Americans that own smartphones is now 81%, up from just 35% in Pew Research Center’s first survey of smartphone ownership conducted in 2011. Along with mobile phones, Americans own a range of other information devices. Nearly three-quarters of U.S. adults now own desktop or laptop computers, while roughly half now own tablet computers and roughly half own e-reader devices. WikiLeaks claims that CIA spies have 24 exploits for smartphones powered by Google’s Android operating system and “numerous” exploits for Apple’s iOS operating system. The techniques appear to go beyond wiretaps, with spooks supposedly having the ability to surreptitiously activate the microphone on a smartphone or smart TV without their target having a clue. WikiLeaks claims that the “techniques permit the CIA to bypass the encryption of WhatsApp, Signal, Telegram, Wiebo, Confide and Cloackman by hacking the smartphones that they run on and collecting audio and message traffic before encryption is applied.” Cybersecurity researchers discovered at the time three major vulnerabilities in the Apple iPhone operating system affecting users worldwide and prompting the software giant to release a security update. The spy software in that case was able to scoop up messages from any number of apps — including encrypted chat applications like WhatsApp — because of its sophistication. And it is not just a problem from the software side , but also the hardware can be compromised . A cell site simulator or Stingray can intercept your phone signal, and essentially trick it into connecting to it and 'potentially suck up all your data' like conversations and text messages. Stingray is a device that connects to your cell phone and potentially sucks up all your data, a very powerful surveillance tool that doesn't necessarily have a lot of transparency around it . The devices can be used to find missing people and they are a tool popular with some law enforcement nationwide. Just for going about your daily business you are subjected to the kind of surveillance that might be downloading information from your personal phone . There is no way that an individual would ever know that their phone had been hooked to a Stingray . The technology is very powerful,They are catching everyone in the neighborhood and weed out that one particular bad guy they are looking for. Experts say simulators appeal to more than law enforcement. The government has been focusing a lot more on it cause there has been concerns about people using them at embassies in Washington, DC. The devices can be built for about $500, which make them attractive to foreign governments and even criminals. The lawful surveillance’ industry is a multi billion dollar industry . And we all turn over huge amounts of information to third parties every day, and almost all of our activities can be tracked through our “smart” devices. And as the amount of data that businesses collect on us grows, so do concerns over the government’s ability to access that data. The Patriot Act made it OK to mass spy already via PRISM on your devices alphabet soup can slide on in seamlessly and spy on you like piece of cake. The US government has been spying on you without your knowledge. Your only option is to turn off the smart phone and go totally off grid . That's your only option for privacy .










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All Eyes on Africa? -- After China here comes Russia !!







Sino-Africa relations have grown substantially over the last two decades, with China providing billions of dollars in loans, grants, and development financing to a number of the continent’s 55 nations. The country has financed large-scale infrastructural projects such as railways in countries like Kenya, factories in Lesotho and Namibia, and free trade zones. It also helped Ethiopia launch its first satellite. China is also exercising major moves as a global military power on the continent, opening up a key military base in Djibouti and deploying peacekeepers in South Sudan, Mali, and the Democratic Republic of Congo. Plus, there’s the training and education opportunities it’s providing thousands of African leaders, bureaucrats, students, and business people. Russia has also followed this approach in recent years, signing agreements to establish economic zones in Eritrea, exploring opportunities in accessing minerals across southern Africa, and enhancing military and technical cooperation with nations like the Central African Republic. US officials have grown increasingly worried about what these expansions could mean for their long-term interests in the continent. With its America First mantra, the Trump administration was also initially skeptical of Africa’s place in US foreign policy. Yet to gain leverage over China in Africa, Trump bolstered development via a new agency to $60 billion this year. Trump also named veteran diplomat Tibor Nagy, who has extensive experience working in Africa, to lead the State Department’s strategy there. Fears that Washington is increasingly losing influence across the globe are starting to come to fruition in Africa, where a top military official says Russia is playing on perceived U.S. weaknesses to gain leverage and resources. The most alarming inroads have come in African countries where leaders are seeking to consolidate power. Russia seems to have its sights set on areas that could give them an edge over U.S. allies. Russian interests gain access to natural resources on favorable terms,The Chinese bring the money and the Russians bring the muscle . The West is not very much loved by many african countries. And many (see) Russia as the country that will oppose the West . Amid deteriorating relations with western countries, a diplomatic campaign to win new friends and partners in Africa is at the forefront of a sweeping foreign policy pivot by Moscow, as it seeks fresh alliances to bolster its global geopolitical clout. From Algeria to Uganda, Russia is building influence in Africa, lending support to embattled strongmen, taking on natural resource projects in conflict-racked states and positioning itself as a new powerbroker without the baggage of former colonial powers. In recent years, many African countries not embroiled in ongoing internal conflicts have picked up the pace of economic development, witnessing growth levels impressive even for developing states. Their success has already attracted some foreign investors, but so far Russia has not been at the top of this list. African countries have been showing astonishing economic results, with some countries reaching GDP growth levels of 7% per year. According to predictions by the International Monetary Fund (IMF), Ghana could become a 2019 leader in this regard, with expected growth of 8.8%, while the Ivory Coast and Ethiopia could see 7.5% and 7.7% growth respectively. Their growth comes from different sources. Some countries have simply discovered rich natural resource deposits, as has apparently been the case with Ghana's oil fields. Others are receiving dividends from the development of their telecom and financial sectors, as is the case with Senegal. Their rapidly growing economies have already allowed these countries to attract foreign investors and boost economic cooperation with states like China, India, South Korea, and others. Russia is among these countries, but is far from being at the top of the list. At the moment, Russia has its greatest trade ties with Egypt (around $7.6 billion in 2018, which is a 14% increase compared to the previous year) and Algeria (around $5.4 billion in 2018, almost a 17% increase since 2017). Russia’s overall trade with African states amounts to around $19.6 billion. Apart from these two countries, Russia has been developing trade ties with other players on the continent. Bilateral trade with South Africa and Mozambique has risen over the past three years by 28% and 32% respectively, while trade with Togo skyrocketed by 713% in the first half of 2019 in comparison to the same period in 2018. Trade with Sudan, Tunisia, Morocco, Nigeria, and Tanzania has also been generally growing lately, although not as steadily as with others. Senegal, a rapidly developing African economy, has a modest level of trade with Russia, but is currently seeking to change this situation. Senegalese President Macky Sall expressed interest in boosting bilateral trade during a meeting with Vladimir Putin in 2018. Although a significant portion of Russian exports to these countries consists of resources, fertilisers, and agricultural products, the country also sells equipment and provides services in the medical and educational spheres. Russian companies also participate in various infrastructural projects in several states. Namely, Rosatom is building a nuclear power plant in Algeria, while Senegal has invited Russian gas giant Gazprom to participate in the development of a recently discovered offshore gas field. As African countries continue to develop, their needs for foreign services, expertise, and equipment are expected to grow, thus giving Moscow an opportunity to expand its economic cooperation with the continent, which currently constitutes only to a minor part of Russia's foreign trade.





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Can Bitcoin & Libra Kill The Central Banks?






With the advent of the internet, now billions of people can have access to the global digital services. There is no need to obtain an expensive smart phone to use such services; one can buy a mobile as cheap as 50 dollars and use the services from anywhere in the world. This has enabled people to access international financial markets; because, the online services are relatively lower-cost,at the same time more-convenient than traditional services offered by international banking system. Still for too many, accessing the world financial system is like using pre-Internet telecommunication networks. Some 25 years ago, people would pay relatively high prices to send a single text message via the Short Message Service. However, now everyone with a smartphone can buy a basic data plan, to communicate across the world for free. The same is true for global financial services: Everyone can send money internationally by using any of the Internet-based money-transfer services. It is argued that if Libra catches on, it's likely to displace national currencies. The ever growing online businesses are making people spend most of their financial resources online; hence more online transactions. Doing such transactions with Libra as easy as sending an online text message on WhatsApp,makes Libra possibly more useful than any other fiat or digital currencies. The case in the less-developed countries would be different. Considering Libra's reserves consisted of the US dollar, euro and other strong currencies as well as government securities and bank interests, Facebook is providing people from such countries with an alternative to their local currencies. This is supportive of what Facebook says about the goal for Libra, which is going to be more useful than any national currencies. This makes the fiat currencies seem annoying to the users, since they keep surging and falling relative to Libra. Meanwhile, Facebook's move could attract other tech-giants like Amazon and Google, to take the same steps in the global financial market. If that is the case, the funds from the central banks around the world will move to the giant private multi-national corporations. Bitcoin is a digital currency that, in the words of its sponsors, “uses peer-to-peer technology to operate with no central authority or banks.” By its very definition Bitcoin seems well positioned to kill off central banks. Could it? Would it? Should it? Like just about everything else involving finance, the topic of central banks and their potential replacements is complex with valid arguments for and against. Perspective: Central Banks Play an Important Role The digital era may be taking aim at central banks, but it has not yet managed to kill off the trusty Encyclopedia Britannica, so we turn to the venerable reference to learn that central banking can be traced back to Barcelona Spain in 1401. The first central bank, and those that followed in its wake, often helped nations fund wars and other government-supported initiatives. The English refined the concept of central banking in 1844 with the Bank Charter Act, a legislative effort that laid the groundwork for an institution that had monopoly power to issue currency. The idea being that a bank with that level of power could help stabilize the financial system in times of crisis. It’s a concept that many experts agree helped stave off disaster during the 2007-2008 financial crisis and the Great Recession that followed. Today, modern central banks play a variety of roles. The U.S. Federal Reserve, for example, is tasked with using monetary policy as a tool to do the following: • Maintain full employment and stables prices . • Ensure the safety and soundness of the nation's banking and financial system and enable consumers to access credit . • Stabilize the financial system in times of crisis . • Help to oversee the nation’s payment systems . To achieve these objectives, the Federal Reserve and other central banks can increase or decrease interest rates and create or destroy money. For example, if the economy seems to be growing too quickly and causing prices for goods and services to rise so rapidly that they become unaffordable, a central bank can increase interest rates to make it more expensive for borrowers to access money. A central bank can also remove money from the economy by reducing the amount of money the central bank makes available to other banks for borrowing purposes. Since money largely exists on electronic balance sheets, simply hitting delete can make it disappear. Doing so reduces the amount of money available to purchase goods, theoretically causing prices to fall. Of course, every action has a reaction. While reducing the amount of money in circulation may cause prices to fall, it also makes it more difficult for businesses to borrow money. In turn, these businesses may become cautious, unwilling to invest, and unwilling to hire new workers. If an economy is not growing quickly enough, central banks can reduce interest rates or create money. Reducing interest rates make it less expensive, and therefore easier and more appealing, for business and consumers to borrow money. Similarly, central banks can increase the amount of money banks have available to lend. Central banks can also engage in additional efforts to manipulate economies. These efforts can include the purchase of securities (bonds) on the open market in an effort to generate demand for them. Increased demand leads to lower interest rates, as borrowers do not need to offer a higher rate because the central bank offers a ready and willing buyer. Central bank-led efforts to steer economies on to the path to prosperity are fraught with peril. If interest rates are too low, inflation can become a problem. As prices rise and consumers can no longer afford to buy the items they wish to purchase, the economy can slow. If rates are too high, borrowing is stifled and the economy is hobbled. Low-interest rates (relative to other nations) cause investors to pull money out of one country and send it to another country that offers a greater return in the form of higher interest rates. Consider the plight of retirees who rely on high-interest rates to generate income. If rates are low, these people suffer a direct hit to their purchasing power and ability to pay their bills. Sending cash to a country that offers better returns is a logical decision. Manipulation of interest rates and/or the monetary supply also has a direct effect on the value of a nation’s currency. A strong dollar makes it more expensive for domestic firms to sell goods abroad. This can lead to domestic unemployment. A weak dollar increases the price of imported goods, including oil and other commodities. This can make it more expensive for consumers to purchase imports and for domestic companies to produce goods that rely on imported parts or materials. Arguably, a weak dollar is beneficial for a slow economy that needs to pick up steam while a strong dollar is good for consumers. Because there is a lag between the time a central bank begins to implement a policy change and that change actually having an impact on a nation’s economy, central banks are always looking to the future. They want to make policy changes today that will enable them to achieve future goals. Perspective: the Central Bank are Unnecessary . The very complexities associated with national and global economies set the stage for an argument that these economies are too unpredictable to be successfully managed by the type of manipulation central banks engage in. This argument, made by proponents of the Austrian School of Economics, can be used to support the implementation of Bitcoin-style peer-to-peer currency that eliminates central banks and their complex schemes. Furthermore, modern central banks have been the subject of controversy since their inception. And the reasons for discontent are wide and varied. On one hand, the concept of monopoly power is profoundly disturbing to many people. On another, the existence of an independent, opaque entity that has the power to manipulate an economy is even more disturbing. Along these lines, many people (including economists and politicians) believe that central banks make mistakes that have enormous ramifications in the lives of citizens. These mistakes include increases in the monetary supply (creating inflation and hurting consumers by raising prices for the goods and services they purchase), the implementation of interest rate increases (hurting consumers who wish to borrow money), the formulation of policies that keep inflation too low (resulting in unemployment), and the implementation of unnaturally low interest rates (creating asset bubbles in real estate, stocks, or bonds). Along these lines, no less an authority than former Chairman of the Federal Reserve Ben Bernanke blames manipulation by the central bank (which raised interest rates) for the Great Depression of 1929. In an era when technology has enabled consumers to engage in commerce without the need for a central authority, an argument can be made that central banks are no longer necessary. A broader examination of the banking system extends this argument. Corruption associated with the banking system resulted in the Great Recession and a host of scandals. Bankers have caused great angst in Greece and other nations. Organizations such as the International Monetary Fund have been cited for fostering profits over people. And at the more local level, bankers make billions of dollars by serving as the middlemen in transactions between individuals. In this environment, the elimination of the entire banking system is an appealing concept to many people. The Bottom Line is , Central banks are currently the dominant structure nations use to manage their economies. They have monopoly power and are not going to give up that power without a fight. While Bitcoin and other digital currencies have generated significant interest, their adoption rates are minuscule and government support for them is virtually nonexistent. Until and unless governments recognize Bitcoin as a legitimate currency, it has little hope of killing off central banks any time soon. That noted, central banks across the globe are watching and studying Bitcoin. Based on the fact that metal coins are expensive to manufacture (often costing more than their face value), it is more likely than not that central banks will one day issue digital currencies of their own.







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What is a Bank Panic ? -- Bank Panic Explained





Bank panic also known as Bank run are a series of unexpected cash withdrawals caused by a sudden decline in depositor confidence or fear that the bank will be closed by the chartering agency, i.e. many depositors withdraw cash almost simultaneously. Since the cash reserve a bank keeps on hand is only a small fraction of its deposits, a large number of withdrawals in a short period of time can deplete available cash and force the bank to close and possibly go out of business. a Bank run is an event in which many account holders at a bank withdraw all of their funds at the same time because they do not believe the bank is solvent. Ironically, the pressure of a bank run itself can cause the bank to become insolvent. In the United States, bank runs were fairly common before the creation of the FDIC, which insures bank deposits up to a certain amount. Example of Bank Panic is the Bank Panic of 1907 . The Bank Panic of 1907 occurred at the beginning of the twentieth century. It was the result of shrinking market liquidity and dwindling depositor confidence. In addition to this, there were plans to regulate trust companies. At the time, trust companies faced increased public scrutiny for adhering to less regulation than national or state banks. This skepticism triggered a run on the trust companies that continued to worsen even as banks stabilized. Without a central bank, leading financiers like J.P. Morgan stepped in and provided some vital liquidity. Even then, the Knickerbocker Trust Company—New York City's third-largest trust—was unable to withstand the run and failed in late October. This undermined the public's confidence in the financial industry and accelerated the ongoing bank runs. The Bank Panic of 1907 occurred during a six-week stretch, starting in October 1907. The trigger was bankruptcy of two minor brokerage firms. A failed attempt by F. Augustus Heinze and Charles Morse to buy up shares of a copper mining firm resulted in a run on banks associated with them. The New York Clearing House declared these banks solvent a few days later. By then, however, the contagion had spread to trust companies. The most prominent trust company to fall was Knickerbocker Trust, which was refused a loan by banking magnate JP Morgan. He did, however, provide a loan to the Trust Company of America—another financial institution targeted by depositors. Initially, the panic was centered in New York City but it eventually spread to other economic centers across America. It was ultimately quelled when the federal government provided over $30 million in aid, and leading financiers like J.P. Morgan and John D. Rockefeller continued orchestrating deals to bring confidence and liquidity back to the financial markets. The former especially played a pivotal role in handling the crisis. Working from his mansion on 34th Street, JP Morgan deployed his vast information network to mobilize and organize the rescue of major financial institutions. The panic's impact led to the eventual development of the Federal Reserve System. Today, the central bank operates under a dual mandate to maximize employment and stabilize inflation with monetary policy tools like open market transactions. At the time, the main difference between Europe and US banking systems was the absence of a central bank in the US. European countries were capable of injecting liquidity into the market during periods of financial distress. Many people felt a central bank system could have prevented the Bank Panic of 1907 by providing an extra source of liquid assets for financial institutions to tap into. This ultimately caused leading financiers to draft an early framework of monetary policy and reform in the banking system. That report was shelved until 1913 when then-President Woodrow Wilson signed the legislation into law. It created the Federal Reserve System with Charles Hamlin as the first chairman and Benjamin Strong—a key member of Morgan's company—as the president of the Federal Reserve Bank of New York. So What are the Parallels To the 2008 Financial Recession . The parallels between The Bank Panic of 1907 and 2008 Recession are striking. The recent financial crisis was centered around investment banks without direct access to the Federal Reserve System, whereas its predecessor spread from trust companies that existed beyond the New York Clearing House. In essence, both events started outside of traditional retail banking services but still ushered in distrust for the banking industry among the broader public. Both were also preceded by a time of excess in the U.S. economy. The Panic of 1907 was preceded by the Gilded Age during which monopolies like Standard Oil dominated the economy. Their growth led to the concentration of wealth among select individuals. Teddy Roosevelt referred to the "predatory man of wealth" in one of his speeches. Similarly, the period before the 2008 Recession was characterized by loose monetary policy and a growth in numbers at Wall Street. Tales of excess at banking and financial services institutions abounded as they raked in revenues after doling out dubious loans to Americans. The aftermath of the 1907 bank run led to the creation of the Federal Reserve while the recession prompted new reforms like Dodd-Frank. These mechanisms intended to protect the broader public from a financial meltdown and hinder the big banks from taking unreasonable risks.











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Gerald Celente - Markets Will Crash, Should Impeachment Tensions Sharply Spike









The pressures of democracy and welfare systems have made deficits the norm"... actually I have to agree with that. The cost of social security, medicare etcetera are more than 4x military. Of course you are right that military expenditures are 10x what they need to be, but that alone would not solve the democratic problem of the sheeple voting themselves largess from the public treasury.







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Saturday, September 28, 2019

RED ALERT -- Trump's Taxes , the Next shoe to drop -- DeutcheBank has Trumps' Tax Returns










What a godawful week for the MAGA .This has been a great week for this country.And it's getting better every day. It looks like Trump's Taxes are the Next shoe to drop . It will be even more damaging than Ukraine scandal. Mark my words. Trump borrowed 2 billion dollars from Deutsche bank. 2 BILLION DOLLARS! In some instances, Trump exaggerated his wealth and promised to reward bankers with a weekend at Mar-a-Lago in order to get those loans, according to a report. We do not have a clue how much he and Jared borrowed from the Oligarchs, Saudis, UAE, Qatar, Bahrain, etc. to keep themselves afloat . Yesterday the New York Times and the Paradise Papers revealed that two different Kremlin-connected Russian billionaires had poured significant amounts of money into businesses owned by Jared Kushner, one in 2010 and the other in 2014. Kushner has long been lying about these Russia investments. Respected political pundit Howard Dean thinks these revelations will cause Kushner to be indicted for money laundering. If he’s right about that, then Kushner won’t be the only one having to explain these Russian transactions to a court of law . Trump has so thoroughly screwed DeutcheBank that it's got to be drooling to be able to deliver these. Any second now they'll have enough legal cover to go all-in without freaking out their customer base. Should be interesting. Just a reminder: submitting false information to secure a loan is bank fraud and could be securities fraud, depending on what is being offered for collateral. Deutsche Bank revealed Friday that it has the tax returns of two individuals who are covered under subpoenas from House committees investigating President Trump's finances. The bank made the disclosure in a court filing, shedding more light on one of the cases involving efforts to obtain information about Trump's tax returns and financial information. The tax returns in Deutsche Bank's possession were redacted in a court filing to protect the names of the individuals involved, but the filing narrows down the list of possible candidates, acknowledging that they are individual tax returns and not for Trump corporations or businesses. “Based on Deutsche Bank’s current knowledge and the results of the extensive searches that have already been conducted, the Bank has in its possession tax returns (in either draft or as-filed form) responsive to the Subpoenas for two individuals, not entities, named in the Subpoenas,” the court filing reads. Media organizations are suing to force Deutsche Bank to release the names involved. The House Intelligence and Financial Services committees served subpoenas to Deutsche Bank and Capital One in April to obtain financial records of Trump, his three oldest children and certain business entities of the president. Trump, his family members and businesses filed a lawsuit in response to bar the banks from providing lawmakers with the information they are seeking. A federal appeals court in New York is considering the subpoenas after a district court judge said the banks could provide the records to the House. Deutsche Bank said in a filing last month that it has “statutory, contractual, and privacy concerns” that make it hesitant to reveal the names of the people whose tax returns they have. Democrats have been eager to shine a light on Trump’s finances, a question that was first fueled by his decision to not release his tax returns during the 2016 campaign, claiming he was under an audit. The Internal Revenue Service has maintained that audits do not prevent political candidates from releasing their returns. There's no reason to fight tooth and nail over something as dumb as tax returns unless you've really go something to hide. Keep in mind — this man was willing and ready to lose the election before showing his tax returns. He has made it abundantly clear to all of us, there’s nothing worse for him than the public knowledge of his finances. Once again trump’s defenders miss the obvious point. Crimes are not the issue as much as proof of his lies, his frauds, and his completely unscrupulous behavior which will be revealed after a review of his tax returns . Trump pressured Mitt Romney to release his tax returns. Trump repeatedly stated that he would release his returns. Obama released all of his. Bill and Hillary, too. Trump: Can't meet the standards he demands of others, he promised to meet, and were met by Obama and the Clintons. His companies went bankrupt 6 times. Time for him to bite the bullet, his latest property, "The White House" is tanking too. Why does he keep trying? What a Week Trump is having, what a Week. Next week he is going to have Rudy Giuliani look into the business dealings of Joe Biden's son in Ukraine. Oh, never mind!







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Blog Archive

“Control oil and you control nations; control food and you control the people.” Henry Kissinger


once a standing army is established, in any country, the people lose their liberty.”
George Mason

“Military men are dumb, stupid animals to be used as pawns for foreign policy.”
Henry Kissinger

“If you are an ordinary person, then you can prepare yourself for war by moving to the countryside and building a farm, but you must take guns with you, as the hordes of starving will be roaming. Also, even though the elite will have their safe havens and specialist shelters, they must be just as careful during the war as the ordinary civilians, because their shelters can still be compromised.”
Henry Kissinger

"We don't let them have ideas. Why would we let them have guns?" Joseph Stalin

The people who cast the votes decide nothing. The people who count the votes decide everything.
Joseph Stalin

Governments keep a lot of secrets from their people . . .
Why aren't the people in return allowed to keep secrets
from the government?

PHILIP ZIMMERMAN, DER SPIEGEL

“Some call it Communism, I call it Judaism.”

Rabbi Stephen Weiss

“Anti-Communism is Anti-Semitism.”
Jewish Voice, July - August 1941

Taxing People is Punishing Success
UNKNOWN

There's the rich, the poor, and the tax payers...also known as the middle class. Robert Kiyosaki

The Tax you pay is The Bill for Staying Stupid

Stefan Molyneux


“The modern banking system manufactures money out of nothing. The process is, perhaps, the most astounding piece of sleight of hand that was ever invented. Banks can in fact inflate, mint and un-mint the modern ledger-entry currency.” Major L L B Angus

The few who understand the system will either be so interested in its profits or so dependent on its favours that there will be no opposition from that class, while on the other hand, the great body of the people mentally incapable of comprehending the tremendous advantage that capital derives from the system will bear its burdens without complaint and perhaps without even suspecting that the system is inimical to their interests.
The Rothschild Bros

"Debts must be collected, bonds and mortgages must be foreclosed as rapidly as possible. When, through a process of law, the common people lose their homes they will become more docile and more easily governed through the influence of the strong arm of government, applied by a central power of wealth under control of leading financiers.

This truth is well known among our principal men now engaged in forming an imperialism of Capital to govern the world.

By dividing the voters through the political party system, we can get them to expend their energies in fighting over questions of no importance. Thus by discreet action we can secure for ourselves what has been so well planned and so successfully accomplished."

USA Banker's Magazine, August 25 1924


Cutting Tax Rates stimulates Economic Growth creates more Profit , more Jobs and therefore The Treasury ends up with more Tax Money
UNKNOWN

Taxation is legalized Theft
UNKNOWN

"The Objective of the Bank is not the control of a conflict , it's the control of the debt that a conflict produces . The real value of a conflict , the true value is in the debt that it creates . You control the debt , you control everything . this is THE VERY ESSENCE OF THE BANKING INDUSTRY , to make us all , whether we be nations or individuals , SLAVES TO DEBT " An UNKNOWN Banker

Patriotism is the last refuge... to which the scoundrel clings .... Steal a little and they throw you in jail ..steal a lot and they make you king ....

Bob Dylan


"Corporations are stealing billions in tax breaks, while the confused, screwed citizenry turn on each other. International corporations have no national allegiance, they care only for profit." Robert Reich


There is NO political answer to a spiritual problem!
Steve Quayle


Po
litical Correctness is a Political Stand Point that does not allow Political Opposition , This is actually The Definition of Dictatorship
Gilad Atzmon

The modern definition of racist is someone who is winning an argument with a liberal
Peter Brimelow


When People lose everything and have nothing left to lose , They Lose It !

GERALD CELENTE

Your Greatest Teacher is Your Last Mistake
DAVID ICKE

The one who Controls the Education System , Controls Perception
UNKNOWN

"The world will not be destroyed by those who do evil, but by those who watch them without doing anything."

Albert Einstein

In The Left Nothing is Right & in The Right nothing is Left
UNKNOWN


No man escapes when freedom fails; The best men rot in filthy jails. And those that cried 'Appease! Appease!' Are hanged by those they tried to please
UNKNOWN

Freedom is not Free
UNKNOWN

Don't Steal The Government Hates The Competition

Ron Paul

"Buy The Rumor , Sell The Fact " Peter Schiff


You can love your Country and not your Government

Jesse Ventura


" The Government Works for ME , I do not answer to them They Answer to ME "
Glenn Beck

"Tyranny will Come to Your Door in a Uniform "
Alex Jones

"The Government is not The Solution to our Problems , The Government is The Problem "

Ronald Reagan


"The price good men pay for indifference to public affairs is to be ruled by evil men." Plato


The world is a tragedy to those that feel, and a comedy to those that think...Beppe Grillo

"The people should not fear the government for it is the government who should fear the people" UNKNOWN

"If You are looking for solutions to the world's problems , look in the Mirror , You Are The Solution , You have the power as a human being on this planet " UNKNOWN

"They don't control us , We empower them " UNKNOWN

"Serial Killers do on a Small Scale What Governments do on a large one..."

Serial Killer Richard Ramirez

There is a Class War going on in America, & unfortunately, my class is winning." Warren Buffet

"When the people fear their government, there is tyranny; when the government fears the people, there is liberty."

Thomas Jefferson

"College is a waste of Money"
Albert Einstein

Schools manufacture people who think that they're smart but they're not.
Robert Kiyosaki

Education is what you learn after you leave School
Robert Kiyosaki

" ‏Schools were designed to create employees for the big corporations."
Robert Kiyosaki


"If a law is unjust, a man is not only right to disobey, he is obligated to do so" Thomas Jefferson

Dissent is the highest form of patriotism
Thomas Jefferson

“True education makes you feel stupid. It makes you realize you have so much more to learn.” Robert Kiyosaki


"One day your life will flash before your eyes. Make sure it's worth watching." - Gerard Way

"Aspire not to have More but to be More "
UNKNOWN

The losers in life think they have all the answers. They can’t learn because they’re too busy telling everyone what they know.
Robert T. Kiyosaki ‏

"Failure is simply the opportunity to begin again. -This time more intelligently." Henry Ford

What You Own Owns You
UNKNOWN

If you expect the government to solve your problems, you have a problem. Robert Kiyosaki

"Those who give up their liberty for more security neither deserve liberty nor security." Benjamin Franklin

"None are more hopelessly enslaved than those who falsely believe they are free.” -
Johann Wolfgang von Goethe

"Always trust someone who is seeking the truth , never trust someone who found it" Jordan Maxwell

Be The Change you want to see in The World
UNKNOWN

Failure inspires winners but defeats losers
Robert Kiyosaki ‏

“If you are planning for a year, sow rice; if you are planning for a decade, plant trees; if you are planning for a lifetime, educate people” A Chinese Proverb

"First they came for the Socialists, and I did not speak out--
Because I was not a Socialist.

Then they came for the Trade Unionists, and I did not speak out--
Because I was not a Trade Unionist.
Then they came for the Jews, and I did not speak out--
Because I was not a Jew.
Then they came for me--and there was no one left to speak for me." UNKNOWN