Greece Financial Crisis Explained - Economic Collapse - Stock Market Crash

Greece has already ended its final international bailout but, with no sign the debt will ever be paid off, some fear another crisis is looming . Yanis Varouvakis once said " God and his angels couldn't fix Greece's finances" . Welcome to The Atlantis Report . Now that Greece’s bailout program has ended, what are the prospects for economic growth and development in Greece? Greece has been in economic turmoil for most of the last decade. Years of financial mismanagement alongside a culture of clientelistic politics, where goods and services were exchanged for political support, culminated in a long-term recession. In global financial history no country has received as much money as Greece. Since May 2010, when it became clear that three decades of economic mismanagement had brought the state to its knees – creating a deficit quadruple the size of that allowed by Brussels – the EU and International Monetary Fund have sought to avert bankruptcy by committing more than €300bn in loans to Athens. The country has taken stock of €260bn, although most of that money has instantly gone back to creditors in the form of debt repayments. Rescue has come at a price. The conditions attached to such aid have been tough, unpopular and, at times, punitively aggressive. Pay and pension cuts, tax rises and structural reforms, many deeply disliked if long overdue, have been at the root of creditors’ relentless demands. But the fiscal straitjacket has also stifled economic growth. From 120% of GDP at the start of the crisis, the ratio of debt-to-economic output now hovers around 180%, by far the highest in the EU. The country was bankrupt in 2010, but the creditors pretended it was a cashflow problem, when really Greece needed a restructuring of its debt early on. Internationally that wasn’t feasible because everyone was so afraid of the consequences it would have for French and German banks. Levels of extreme poverty shot up from 8.9% in 2011 to 15% in 2015. One in 40 of those affected are pensioners, long thought to be worst hit by cuts. One in four are young Greeks, aged 18 to 29 – people who are among the million who have lost jobs, or from the start have never been able to find one. Many believe it will take a decade, at least, before the nation claws back lost income and returns to pre-crisis living standards. Worsening demographics have not helped: after Bulgaria, Greece has the lowest fertility rate in the EU, with the population dwindling by almost 3% as a result of emigration and fewer births during the crisis. One of the most concrete consequences of the crisis is the number of young people that have left the country. In 2016, about 20,000 people aged between 25 and 29 left Greece. About 14,000 others aged between 20 and 24 also left the country in the same year, data from analytics company Oxford Analytica showed. These figures are roughly twice as much as they were prior to 2010. Corporate tax in Greece is currently 28 percent and the highest level of income tax is 45 percent for those earning above 40,000 euros a year ($45,000). But citizens are still taxed 22 percent for the first 20,000 euros they earn in a year and 29 percent for anything between 20,000 euros and 30,000 euros. The standard value-added tax on goods is 23 percent. How do you actually recover from the international bank fraud that triggered the collapse of your entire industry, your entire transportation, communication, healthcare and banking sector and caused the suicide, homelessness and desperation of thousands of people. You don't. You just don't. The Russians are still -100 years later - coping with the consequences of one similar episode. Greece, if it survives the concurrent economic desperation, "refugee" crisis and wars with Turkey, will not be a normal country until at least 2200 AD, if even. 1999/2000 was the actual onset of failure to recover and failure to re-enter the labor market. The cosmetically-enhanced years leading up to 2008 were carefully stoked Fed fraud. The country has been subjected to an influx of worthless migrants, which the EU does not allow them to reject, and an EU imposed austerity programme which will keep them enslaved forever. The Greek people voted for Tsipras who promised to deal with the EU but who then proceeded to sell them out. Maybe they should try Grexit and voting for golden Dawn next time. Greece has been turned into an internment camp, a holding cell for migrants and it will only get worse. The Rich EU countries like Germany use these camps to "vet" the migrants and any with unique skills or education/multilingual get relocated to EU countries that can utilize those skills! As for the military/weapons spending, it unfortunately is part of the "terms" of the loans they accepted. It is the only reason Greece remained current with NATO spending 2% of GDP because they had to, the money was skimmed off the top as part of the loan terms. IMF had their terms as well which included more military spending, in other words, buy more US/UK/German weapons even though they are of no use to this country. All the biggest private companies in Greece are looking for outside options, the taxes being pushed on them are overwhelming, a large company in Greece will actually be paying about a 65% tax rate when you account for employees and all other forms of taxation aside from what they actually market. They are all looking at other markets like Bulgaria for their operations and then bring it back to Greece to sell. Every asset that had value in Greece has been forced by loan terms to be sold off for pennies on the dollar/EURO, so they gave up the airports,electric companies, shipping ports,fresh water,etc etc. and even when the country recovers by the year 3000 they will still own nothing that is of value, they are officially enslaved to the EU ECB policy, their only hope is the collapse of the euro/EU block. When Italy voters lose it over the new group in charge and vote out 5 star, the explosion will happen, UK will Brexit, Italy will lash out at the EU/ECB policy and walk away from their debts and the miserable experiment in debt slavery called the Eurozone will collapse, it is inevitable and almost every working class citizen wants out because they are not benefiting, only the wealthy are gaining from this because they have been allowed to put their finger on the scale and tip everything in their favor while the societies get screwed. The EU cannot recover from BREXIT NO DEAL, they need that cash cow to fund the EU and buy EU products, Italy will be the final nail in the coffin of this experiment in vampirism, sucking all the blood out and loaning them just enough back to keep them alive for a later feeding! Greece's bailout money almost all went to service debt held by foreign banks (mainly German and French I believe.) Greece was forced to borrow money to service debt and is probably, even now, borrowing even more money to service even more debt. Germany is never going to let them escape. Greece would have done better to have borrowed from the Mafia. Greece should default, not to mention going after Germany for reparations for the crimes Germany committed during the war. Perhaps they could tell Germany to write off their debt and they will, in turn, write off Germany's war reparations debt. Not only Greece, but the rest of the world hasn’t recovered much either. Why should it . It never was fixed after 2008 so the next crash will be much worse but who cares . The show must go on. The coming financial economic collapse will make Greece look like a walk in the park.










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2019...The Bible says this is exactly how it would look before the End

Current Events Linked To Biblical Prophecies. Everything is unfolding just as the bible foretold. Wars, Volcanic Eruptions, Earthquakes, Extreme Weather, Christian Persecution, Violence and more! Matthew 24:3-14 3 Now as He sat on the Mount of Olives, the disciples came to Him privately, saying, “Tell us, when will these things be? And what will be the sign of Your coming, and of the end of the age?” 4 And Jesus answered and said to them: “Take heed that no one deceives you. 5 For many will come in My name, saying, ‘I am the Christ,’ and will deceive many. 6 And you will hear of wars and rumors of wars. See that you are not troubled; for all these things must come to pass, but the end is not yet. 7 For nation will rise against nation, and kingdom against kingdom. And there will be famines, pestilences,[b] and earthquakes in various places. 8 All these are the beginning of sorrows. 9 “Then they will deliver you up to tribulation and kill you, and you will be hated by all nations for My name’s sake. 10 And then many will be offended, will betray one another, and will hate one another. 11 Then many false prophets will rise up and deceive many. 12 And because lawlessness will abound, the love of many will grow cold. 13 But he who endures to the end shall be saved. 14 And this gospel of the kingdom will be preached in all the world as a witness to all the nations, and then the end will come.








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MBS admits: Khashoggi murder 'happened under my watch'

Summary In a new documentary, Saudi Crown Prince Mohammed bin Salman says he 'gets all the responsibility' for Khashoggi murder. The Crown Prince has not spoken publicly about the killing inside the Saudi consulate in Istanbul. The CIA and some Western governments have said he ordered it, but Saudi officials say he had no role. Meanwhile, Egyptian demonstrators are calling for the resignation of the country’s President AbdulFattah Al Sisi, angry about the deterioration of living conditions in the country as well as the spread of corruption.






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Bail-Ins & Bank Runs start in India

Hundreds of thousands of depositors have been left in the lurch by the scam that surfaced at the Punjab & Maharashtra Co-operative Bank . The bank had violated Reserve Bank of India (RBI) norms to lend heavily to one client-real-estate firm Housing Development and Infrastructure Limited , which itself is facing bankruptcy proceedings. The RBI has imposed lending restrictions on PMC, depositors are feeling "anger and pain" as they learn capital controls have limited them to only withdrawing $100. With a financial crisis developing, the Reserve Bank of India is scrambling to reassure the public that the banking sector isn't imploding. Coming to a bank near you soon. Welcome to The Atlantis Report . The Punjab Maharashtra Co-operative Bank , PMC , in India, has been caught cooking the books and misreporting non-preforming loans of Mumbai-based real estate developer Housing Development and Infrastructure Ltd . As Reuters reports, PMC hid the bad loans with 21,000 fictitious accounts, which has spooked depositors, investors and government officials . Serves 'em right for trusting banks. Instead of sticking to the tried and true traditional precious metals.Should have kept all your Rupees in silver and gold. NEVER TRUST A BANK OR YOUR GOVERNMENT! The crisis unfolding at PMC Bank is but the tip of the iceberg of larger, unresolved problems in India’s banking sector. The roots of the crisis in the banking sector, writ large, go back to the unresolved problem of non-performing assets (NPAs), which were magnified in the case of cooperative banks due to lax governance and a dicey business model. Unfortunately, the Reserve Bank of India’s approach seems to be to bolt the barn door after the horse has escaped. And, by imposing severe withdrawal restrictions on depositors (recently relaxed)—inevitable when problems have been allowed to fester—those who suffer are largely the poor folk enticed by the higher deposit rates that cooperative banks offer. RBI would like to assure the general public that Indian banking system is safe and stable and there is no need to panic on the basis of such rumors.Yeah right , as the RBI employees panic and withdraw all their cash -- getting while the getting is good. Coming to the United States at some point. The FED and every other economic entity is committing fraud on such a massive level, it's unimaginable. The chain saw juggling act is about to come to an end. 401K's and IRA's will be the first to totally disappear. There will be a bail in. Anyone with under $100K will lose 40% of their assets. Anyone with over $100K will lose 60%. FDIC will be suspended nationwide most likely by a secret act of Congress If only Americans could understand the importance of consolidating all finance business into an oligopoly of To Big To Fail institutions tightly regulated by their own former employees, all in a government sponsored cartel, the lot of it subject to political influence. This is a lesson for people everywhere. your money in some bank is not really your money. it belongs to the bank and ultimately the state. Capital controls.... Bail-in's.... 'And it's gone' . This can't happen if you take ownership of either Gold or silver or even bitcoin . This is the lesson to be learnt here. Also history shows us that India is the test bed for anything nasty The Power That Be have planned for us 99% It happens first in India, lessons are learned, the people studied. Then it is rolled out in the west. The DEPRESSION IS COMING SOON TO A CITY NEAR YOU. Here it comes. It is hitting already in Communist China now India, and you are getting a taste in the US as the Repo rates are going crazy. Safe places are your mattress. This is just a sneak preview of what is coming to the entire world. I am not joking when I say to stock up on 50 lb bags of rice NOW!














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We are Moving towards an Economic Armageddon that will Shake the World to its core

The perfect dictatorship would have the appearance of democracy, a prison without walls in which the prisoners would not dream of escape. A system of slavery where, through consumption and entertainment, slaves would love their servitude. Welcome to The Atlantis Report . Low interest rates are destructive, especially when coddled and promoted. They breed over leveraging and misallocation of resources. Central Bankers are painting themselves, and us, into a corner... No fair return on savings, all time elevated stock market which faces economic headwinds... So the Central Bankers, having painted themselves and us into a corner do what! They ask for more paint.... The fed put itself and us in a box we can't get out of without a great deal of pain. Keeping interest rates at zero and soon negative , will result in consequences, disastrous consequences. Personally I think the next depression will be far worse than 1929 because there wasn't an entitlement society back then like we have today. Today's generation will react much differently than they did back then , with violence nationwide, riots and quite possibly a civil war. and don't forget the Fed Chairman's promise (Bernanke) who started all the QE. when things get better, we will retrieve the QE and shrink the balance sheet...... Sure you will. unemployment 3.5% and stocks near record highs and interest rates at 4000 year lows..... are they reducing the balance sheet as promised? No, they are cutting rates! They are pumping money into an unexplained Fed Funds situation which likely will be identified as the precursor of a major event. The idiocy will be recorded in later financial history books. The feds QE into infinity will precipitate the collapse of the dollar and subsequent depression.The fed will debase the dollar and cause hyperinflation and the ensuing calamity will be apocalyptic. It will be worse this time because we are headed to an inflationary depression rather than a deflationary one. At least until the last deflationary one, the average person may not have had much money, but what money he did have actually bought more stuff. In the coming inflationary one, the dollars you do have will buy less, so the average mans standard of living will go down even more. Countries accumulated more debt than they can ever repay . Corporations accumulated more debt than they can ever repay . Consumer accumulated more debt than they can ever repay . This time around you will not be able to bail out the corporations without bailing out all consumers. What happens to money when you must print to keep humans from rising up and destroying the elites ? What happens to the elites when the consumer figures out they were played for fools and the entire surveillance state was built in anticipation of the big collapse that's coming . The non 1% is very close to collectively waking up, it will make the Arab Spring look calm and peaceful . The Monetary inflation, a derivative of QE and money printing, has been going on since the the advent of fiat paper money, to sustain perpetual poverty, & force serfs to work to survive, thereby effectively giving the money printers the power to hold the advantage of bargaining, trade, & commerce. Which of course results in low wages, price controls, monetary value control, legal oppression through bribing state & federal employees to write laws, & because they can print money infinitely, they can purchase, own, & control everything under the sun, globally. Basically it's the Quintrillionaires vs the Nillionaires , because the serfs don't have money. Global Neo-Serfdom in short. The difficulty now is that the measuring yardstick all these years was gold, and now its price is totally distorted out of reality; and even if gold is taken as a yardstick, its demand is not what it used to be: there is a whole generation that does not understand its utility, and therefore it does not want to buy or hold it. Add to this the infinite quantity of "money" generated out of every hole in the banksters' body, all those "derivatives" and all. Since the manufacturing capacity of the countries have become incompatible and not comparable in any standard way, supply side calculations are also distorted. The normal way out of a depression is either the 0.1% buys all the assets in the country, and take the people into serfdom, or the 99% demolishes the castle walls, introduces a new currency and resets the money market. We are opting for the first. I do believe the serfdom has been perpetual, the bankers sustain it, & the castle can no longer protect the local serfs because of growing immigration & street terrorism. The pretty & rather large corporate buildings will continue to become vacant, unused, & randomly ransacked by the serfs & foreign serfs till everyone begins to see the result of neo-feudalism is only ever more poverty for all. Obviously the banks can't feasibly continue to bailout the Zombie Corps which add little or no value. The bankster pricks didn't learn their lesson because the CDO's are being used now more than they were in 08 and when that bitch pops it's over. There won't be any bailouts for the banks this time around either so they'll all go bankrupt. There won't be any need in running on the banks either. When the currency is debased to the point of worthlessness what's the point in doing a bank run . Those who ignore history are doomed to repeat it". People just can't seem to get that. One thing I've noticed, in keeping up with not only how this is playing out in the US, but also in other developed countries, is that there seems to almost be a spell cast upon central bankers, money managers, and politicians, which is leading each and every one of them down the same path. It's almost like an orchestrated evil is at work, pulling the strings of these puppets, accomplishing its will. This does not end well is one thing I'm sure of. Prepare accordingly, if preparations of that magnitude are even possible. I wish everyone the best of luck, because this is going to be a bitch. This time it is going to be Apocalyptic financially. Some how we have thousands of more subprime loans, defaulting home, auto and student loans now than were issued in 2008. It's crazy. And we have more market manipulation. Fiat is about to die for a very long time after this. This is going to be so big that I can't even wrap my head around the consequences yet. We are moving towards an economic Armageddon that will shake the world to its core. Silver, gold and lead will be very useful in the coming years, prepare accordingly.





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Trump's Next Move : Devalue The Dollar

Trump is using the tools normally reserved for recession times, when the next one comes, and they always do, there will be nowhere to turn. Buckle up and start planning now! Welcome to The Atlantis Report . President Trump has waged war on the U.S. Federal Reserve (Fed) for more than a year, launching salvos of tweet-bombs laced with criticism and ridicule. Trump’s main points have been that the Fed is too hawkish, and the U.S. dollar is too strong. Politics have made matters worse. But the Fed shows no interest in taking the more proactive approach to policy that Trump would like to help outflank China. Chinese authorities have not indicated that they will bend on U.S. trade demands. Trump cannot raise tariffs again without risking recession. Fiscal stimulus is unlikely. The one lever left is the U.S. dollar. Well, yeah, there is that, the dollar. Trump hasn't ruined that yet. Following right in Nixon's footsteps. Nixon fired the Fed chairman, and installed a crony who cut interest rates. Then he took us off the gold standard which devalued the dollar. Result: Mortgage interest rates as high as 18% through the 1970s and into the 1980s. Why did Nixon do it? The same reason Trump wants to do it: TO MASK THE COMING RECESSION BEFORE THE ELECTION. But the real question is whether a currency devaluation will really avert a coming recession. Would the world which is sliding into recession really "Buy American!" Would the world not retaliate with their own devaluations, particularly if their economies are decidedly worse than ours . Would a currency devaluation suddenly motivate Americans to "Buy American" widgets we might have no need. Devalue the dollar and foreign investors will stop financing the national debt. Interest rates will rise and the economy will tank. IF this comes about this will precipitate a race to the bottom. Trump doesn't care about bankrupting the US. 2020 cannot come fast enough when we can show this failure the door. We know Trump has at $1 billion in variable rate loans. Starting the trade war and having the Fed reduce interest rates benefits him greatly. That’s why we want to see his tax returns. If he owes $20 billion in variable loans, a single point enriches him by $200 million. If Trump thought a dollar devaluation would prop up his failing real estate portfolio he would devalue the dollar tomorrow. Everything he currently does is motivated by the fact he is in serious financial distress.




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Saudia Arabia has a long way to fully Recover from Oil Attacks

The September 14 attacks on Saudi oil infrastructure delivered the most significant shock to the global market since the 1973 oil crisis. The drone strikes caused major damage to Saudi oil company Aramco's facilities in Abqaiq and Khurais, cutting Saudi oil output temporarily by 5.7 million barrels per day, an amount equal to around five percent of global production. A new report shows Saudi Arabia’s claims that it has restored oil production to normal levels following massive Yemeni attacks earlier this month are hard to believe. The Bloomberg said in a Friday report that numbers given by Saudi energy authorities on restored oil output following the September 14 attacks on Abqaiq and Khurais oil facilities do not reconcile with the facts on the ground. “A blizzard of data on Saudi Arabia’s oil production, production capacity and exports has painted a picture of an industry that is almost back to normal,” said the report by Julian Lee, adding, “That view may be too simplistic, though.” Lee said that Saudi Arabia’s claim that its capacity for pumping oil has been back at levels just above nine million barrels per day, down from 9.8 bpd immediately before the attacks, do not reconcile with actual production figures. He said a breakdown of output figures shows that Saudis are currently pumping 8 million bpd, mostly in Abqaiq and Khurais, which is far below the 9.1 million bpd claimed by the energy authorities. Lee’s analysis said Riyadh would have huge difficulties to meet its stated output target of 9.89 million bpd in October. It said the state-run Aramco, the largest oil company in the world, would have no option but to increase production at three offshore oil fields to meet the target. However, the report said, raising output at those sites would increase the share of heavier grades of crude in Saudi Arabia’s exports, something that traditional customers in Asia would not be willing to accept.












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This Could Be Another “Black October” For The Stock Market -- Stock Market Crash

First they took your equity in 2008, now they are coming after your pensions, 401k's, etc, via the stock market... next, negative interest rates to take your savings. Wall Street and financial sector is raping and pillaging. And both establishment Democrats and Republicans enable them. Welcome to The Atlantis Report . How long can this game continue? How long can have low volume on the melt up days and high volume on the down days? If the world is genuinely slipping into recession then it's going to show up in company earnings and layoffs and there will massive declines as a result. WE CAN NOT run an economy on massive expansion of DEBT without wage growth! If things are so GREAT on the labor front, why do so many so-called CNBC economic cheerleaders & King-Trump demand that the FED CUT rates by 50-75bp this year in October and December taking rates down into extreme emergency levels? VERY Perplexing, who is lying as actions say that the economy is CRAP! Those who believe this Ponzi scheme storyline promoted today that we have 3.5% unemployment with stagnant/deteriorating wages and NO inflation, all who believe this crapmust believe in Santa: Why does the government manipulate low inflation numbers? The CPI is tied to the incomes of about 88 million Americans, specifically: Social Security beneficiaries, food stamp recipients, military and federal Civil Service retirees and survivors. The higher the CPI number the more money the government needs to increase these income payments to keep pace with the cost of “BS” living. However, this same government is about $22.6 trillion in debt. If the CPI is held low (Ponzi Scheme) the less money the government needs to increase “spend” on cost of living adjustments, something seniors are desperately in need of! Real inflation is all around (rents, home prices, healthcare, property taxes, education, food, etc. even smart phones/tablets are expensive, and I can NOT eat them)! WE cannot run consumption-based economy (67-70% of GDP tied to consumer spending) on increasing massive ballooning debt (like curing being overweight by eating more and more cheeseburgers . Consumer DEBT is at all-time highs, and their serviceability of existing debt is deteriorating! Corporate DEBT at all time historic bubble highs! and their serviceability of existing debt is deteriorating! Government DEBT at historic Highs and King-Trump and GOP want more and more tax breaks for the elite, most wealthy and corporations leaving the working class and poor to pick up the slack! We can NOT run and economy on DEBT expansion at historic levels for LONG before our economy implodes! Don't overthink this. We know many of the Repo's over the last several days had terms with two weeks in the amount of billions. It makes sense that "participants" (who we know know includes JPM to a large degree) would sit on those billions and pile them in collectively to move the market. WE also know that buyback insanity is all all time highs right now. Those are the fundamental factors driving the US market in the afternoon session at least. Is it real? No. Absolutely not. Does anyone care? Well I DO , but most plebs don't care as long as it goes higher regardless of the reason why. In the short term, we could bounce but the systemic risk is worse than it has ever been. Markets could move higher but the real economy is rapidly sinking into recession. We are witnessing the Central Banks vs Reality. Who will win? I'm putting my money on reality but the Central Banks could very well hyperinflate the markets as we sink into recession. It's happened to other nations. It's possible. A Brexit gameover rupture on Oct 31, or FOMC cut number 3 on Oct 29-30. This could be National Peter Schiff Month .






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These are 12 Big Companies that are conducting Major Layoffs -- #Recession 2020

Do you remember what it was like in 2008 when it literally felt like no job was truly safe? It was a terrible time, and many fear that we could soon be facing a similar scenario. In recent days, big companies all across America have been laying off workers at a frightening pace. As economic activity has slowed down, a lot of firms are feeling compelled to slash their payrolls, and if a deep recession is ahead of us then what we have seen so far could be just the tip of the iceberg. In 2008 and 2009, millions of Americans lost their jobs very rapidly, and it could very easily happen again. As I have been conducting research over the past few days, I have been struck by the stunning number of layoff announcements that are suddenly popping up in the news. Here are 12 of the most prominent examples… #1 HP Inc: “U.S. personal computer maker HP Inc said on Thursday it will cut up to 16% of its workforce as part of a restructuring plan aimed at cutting costs. The company will cut about 7,000 to 9,000 jobs through a combination of employee exits and voluntary early retirement, it said in a statement.” #2 WeWork: “WeWork, the co-working business once valued at $47 billion, is expected to announce significant layoffs this month, Bloomberg reports. This follows reports the company was looking to slash as many as 5,000 roles, or one-third of its workforce.” #3 Kroger: “Kroger is laying off hundreds of employees across the family of grocery stores it owns, a person familiar with the situation tells CNBC.” #4 Sports Illustrated: “The revered 65-year-old Sports Illustrated magazine is in a state of bedlam. In meetings Thursday afternoon, managers told staff members that about half the newsroom would be laid off, according to two people present at the meetings.” #5 Uber: “The 435 employees cut from Uber include members from its product team and engineering team.” #6 John Deere: “John Deere is set to layoff more than 150 workers at two of its plants in the Quad-Cities.” #7 Bayou Steel Group: “According to Market Realist, Bayou Steel Group filed for bankruptcy on Tuesday and the company laid off 376 workers. U.S. Steel and ArcelorMittal also curtailed some of their facilities. U.S. Steel idled two of its US blast furnaces earlier this year and the company expects those blast furnaces to be idle until at least the end of the year.” #8 Elanco: “Elanco Animal Health Inc. which went public a year ago, on Monday said it plans to lay off 250 workers to save $12 million in 2020.” #9 Lazard Asset Management: “Lazard Ltd. is cutting up to 7% of its employees in its asset-management division and closing some investment funds by year’s end, people familiar with the matter said, amid a tougher climate for money managers.” #10 Advance Engineering Corporation: “Advance Engineering Corporation, Elgin, permanent closing due to relocation affecting 114 employees. First layoff date is Nov. 4, with layoffs to be completed by Dec. 31.” #11 Daimler Trucks North America: “The company is laying off 450 workers at its Mount Holly plant and about the same number at its plant in Cleveland.” #12 Genesis Healthcare: “Genesis Healthcare, in a statement to McKnight’s on Wednesday said it has reorganized its therapy gyms in response to PDPM and other industry changes. The company laid off 585 out of about 10,000 Genesis Rehab employees.” This isn’t what a “booming economy” looks like. In fact, this is precisely what we would expect to see as the U.S. economy plunges into a major economic downturn. Of course a lot of people out there don’t want to believe that this is actually happening. There are many that have absolutely convinced themselves that the good times will keep rolling indefinitely, even though all of the evidence is pointing to the contrary. On Wall Street, investors are trying to make sense of all the negative data that we have been receiving lately, and many of them are starting to become quite nervous… Lagging or leading, macro or micro, global or domestic. For investors, all that matters to keep the bull market intact is whether this week’s torrent of data is flashing a recession ahead or just a few local shocks. In a market so divided on the outlook, every piece of data holds the prospect of vindication or rebuttal — and numbers on Thursday just handed fresh ammo to the bears. A U.S. services gauge dropped to a three-year low in September and jobless claims rose more than expected, shortly after a euro-zone report showing a factory slump has spread to services. Needless to say, all of the chaos in Washington is certainly not going to help matters. The federal government will be paralyzed while this impeachment inquiry plays out, and Democrats are hoping to have articles of impeachment ready for a vote around Thanksgiving. And I know that a lot of people don’t want to hear this, but Nancy Pelosi believes that she already has the votes that she needs. That means that President Trump could be headed for impeachment, and a Senate trial would unleash chaos all over America. We are already a deeply, deeply divided nation, and their entire saga is going to make things much worse. You see, the truth is that our economic problems are not just happening in a vacuum. There are many different elements to the emerging “perfect storm”, and they are all going to feed into one another. So buckle your seat belts and get prepared for rougher times, because this drama is only in the very early chapters.











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Money is Debt : The Layers of Debt

Today, in the states, as in many developed nations, the people are conditioned to view their credit cards as a short term "loan", as in "credit" or "debt". They then use the dollars (or similar currency) they receive as a form of payment. If they pay off the balance of their monthly credit card account, they reason, they have "paid in full" the debt, for there is no interest incurred to extend that debt beyond the "grace period". Thus, they see their currency as "payment in full" of an electronic debt. But this way of thinking is flawed. For what are the electronic digits in a checking account? They are "credits" to that account yes, but what can they be used for other than to cancel out debits or debt? Ahh, they can be used to buy useful things in our everyday lives, for those who will accept your "check". And Dollar bills can be used to buy things too, just like a credit card, or a personal check. And most everywhere dollars are accepted as payment for most anything (or so it seems). So you can see that "credit" or the "promise to pay" is an accepted form of payment in our modern world. If a merchant verifies your bank account to accept your personal check, that verification "backs" the banks promise to pay. If he accepts your credit card, again the issuing bank backs the promise to pay, as they have verified your credit history and applied a credit rating which allows them to issue you the card. Now step back a moment and view, in this light, the dollars you receive (through earnings, or entitlements, or interests) and try to find the difference between them and these other forms of credit. Both are used as a form of payment, both are backed by "acceptance". Dollars, as notes of credit, are merely a way to "roll over the debt" just as you would take a credit card balance with one bank and use another bank's more favorable terms to "roll over" that debt. Some would say that dollar notes of credit are backed by the issuing government's solvency, through its central bank, but in the end, all credit is backed by systemic "acceptance" and "rollover". There is never "payment in full" with fiat currency, only an extension of debt, with another form of debt. You have no doubt heard that "money is debt" but perhaps have never really thought it through this way. There is such a thing as "payment in full" or a way to satisfy debt without continuously rolling it over, but few people of Western thought give this concept any credence. As long as we are willing to work for debt, then economies will accept debt as a form of payment, and the banks will continue to lend it out, with interest. So you may have your blogs about the new "World Order" and the evil globalist bankers of the kleptocratic fractional reserve system. But be careful not to suggest that all people of "good credit rating" suddenly voluntarily repudiate all debt to "bring down this unjust system". For if this idea were to gain any traction, you will then truly understand the weight of certain executive orders and how they will apply to you. They were issued after all in the expectation that this may occur involuntarily anyway, and it may well. Wouldn't it be a shame if the dollar became the Discover Card of currencies? The little people would still try to use it, but it's acceptance would decline. Still, the little people have more power than they think. It is just that they do not think, rather they obey, and accept. The system does not, and this is why the system owns them, and everything they lay claim to, by title in debt alone. It is not a "credit" rating that is issued, but rather an acceptance rating, or an obedience rating. It does not matter which fails first, acceptance, obedience or confidence, for they are all one and the same. And the little people will never voluntarily renounce this system. That is for "the system" to decide, when and how. the little people do not think, rather they obey, and accept. This is primarily because the practice of looking beyond the velvet ropes is mentally and spiritually exhausting, and makes you rather unpopular at dinner parties. The mainstream media mocks the "beyond the velvet ropes" view. If they acknowledge it at all. And people who are exhausted and weak will mock as well, because that is what they are conditioned to do, and it gives them a measure of satisfaction to denounce a "greater fool." Life is hard. Life lived in defiance of the grinding heel of the grande illusion is even harder. The little people will never renounce the system. Until a collapse sends them fleeing for safety, they are powerless to step outside the system... Unless they are determined enough to exit toe by toe, millimeter by millimeter, into the protective arms of a wealth reserve that will shield them from the collapse. The machine is too big and too omnipresent for most little people to walk away from. The only way to exit is to compile many, many thin layers of preparation into a thick, durable blanket of stored value. In time, as the layers compound, the available options for a little person expand. There is an exit door, but it is at the end of a really, really long hallway.








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Can The Chinese Yuan Replace The Dollar as Global Reserve Currency

Can the Yuan Replace the Dollar? Could China's ambition to make the yuan the world's currency lead to a dollar collapse? China is working hard to make the yuan the next global currency. Although presently a reserve currency, the yuan can’t upstage the U.S. dollar unless the following scenarios happen: Central banks around the world choose to keep a total of at least $700 billion worth of yuan in foreign exchange reserves. The People's Bank of China allows free trade of the yuan and relaxes its peg to the U.S. dollar. The People's Bank of China becomes straightforward about its future intentions with the yuan. China’s financial markets turn transparent. Chinese monetary policies are perceived as stable. The yuan acquires the U.S. dollar’s reputation of stability, which is backed by the enormity and liquidity of U.S. Treasurys. Welcome to The Atlantis Report . China wants its currency, the yuan, to replace the U.S. dollar as the world's global currency. That would give it more control over its economy. As China's economic might grows, it's taking steps to make that happen. A slim majority of institutional investors see it as inevitable, but don't say when. Could we see a switch from a greenback to a redback-dominated world ! If so, how and when would that happen? What would be the consequences? Before the yuan can become a global currency, it must first be successful as a reserve currency . That would give China the following five benefits: The yuan would be used to price more international contracts. China exports a lot of commodities that are traditionally priced in U.S. dollars. If they were priced in yuan, China would not have to worry so much about the dollar's value. All central banks would have to hold yuan as part of their foreign exchange reserves. The yuan would be in higher demand. That would lower interest rates for bonds denominated in yuan. Chinese exporters would have lower borrowing costs. China would have more economic clout in relation to the United States. It would support President Jinping's economic reforms. How the Yuan Is Becoming a Reserve Currency . On November 30, 2015, the International Monetary Fund awarded the yuan status as a reserve currency. The IMF added the yuan to its Special Drawing Rights basket on October 1, 2016. This basket currently includes the euro, Japanese yen, British pound, and U.S. dollar. Why did the IMF make this decision? China’s leaders want to improve the standard of living to avoid another revolution. The People’s Bank of China kept the yuan at a fixed exchange rate to the dollar. That allowed China's economic growth to soar thanks to low-cost exports to the United States. As a result, China's share of international trade and gross domestic product grew to around 10%. As trade grew, so did the yuan's popularity. In August 2015, it became the fourth most-used currency in the world. It rose from 13th place in just three years. It surpassed the Japanese yen, Canadian loonie, and the Australian dollar. Central banks should increase their foreign exchange reserves of yuan to provide funds for that level of trade. Central banks alone should purchase about $700 billion worth of yuan. But banks never purchased all the euros they should have, even when the European Union was the world's largest economy. Most international transactions are still done in U.S. dollars, even though its trade has dropped. The IMF requires China to liberalize its capital markets. It should allow the yuan to be freely traded on foreign exchange markets. That allows central banks to hold it as a reserve currency. For that to happen, China's central bank must relax the yuan's peg to the dollar. China must have clearer communications about its future actions regarding the yuan. That's what the Federal Reserve does at each of its eight Federal Open Market Committee meetings. Instead of a fixed exchange rate, it would set the yuan's value to its closing value on the previous day. Instead of rising, as many expected, the yuan fell 3% over the next two days. The PBOC stabilized the rate. It now has the freedom to allow the yuan to be a stronger tool in monetary policy. The drop also silenced critics of China's reforms, many of whom were members of the U.S. Congress. They had warned that the yuan's value would rise as much as 30% or more. That would destroy China’s competitive advantage as an exporter. On November 30, 2015, the PBOC informally communicated it will allow the yuan to depreciate between 3% and 5% in 2016. On December 11, 2015, the Bank announced it would begin to shift the dollar peg to a basket of currencies. That basket includes the dollar, euro, yen, and 10 other currencies. The Yuan Is Slowly Being Traded in Foreign . Chinese leaders are beginning to make it easier to trade the yuan in foreign exchange markets. To do this risks more open financial and political systems. On March 23, 2015, China backed the Renminbi Trading Hub for the Americas. The renminbi is another name for the yuan. That makes it easier for North American companies to conduct yuan transactions in Canadian banks. China opened up similar trading hubs in Singapore and London. Former New York City Mayor Michael Bloomberg is Chair of the Working Group on U.S. RMB Trading and Clearing group. It is creating a renminbi trading center in the United States. The group includes former U.S. Treasury Secretaries Hank Paulson and Tim Geithner. Such a center would lower costs for U.S. companies trading with China. It would also allow U.S. financial companies to offer yuan-denominated hedges and other derivatives. On June 9, 2016, China granted the United States a quota of 250 billion yuan, the equivalent of $38 billion, under China's Renminbi Qualified Foreign Institutional Investor program. It appointed one Chinese and one U.S. bank to conduct RMB clearing business in the United States. Can the Yuan Replace the Dollar? The level of trade is not the only reason the U .S. dollar is the world's reserve currency. The strength of the U.S. economy instills trust. Most important are the transparency of U.S. financial markets and the stability of its monetary policy. On the other hand, Stuart Oakley, managing director of Nomura, pointed out in a 2013 article that China owns $5 trillion of unallocated central bank reserves and these could be in yuan. As more bilateral swap lines are set up and China moves further down its path of capital market liberalization, central banks' appetite to own this currency will grow. Global tensions caused by economic sanctions and trade conflicts triggered by Washington have forced targeted countries to take a fresh look at alternative payment systems currently dominated by the US dollar. So far, China, India, Turkey, Iran, and Russia have all taken steps towards eliminating their reliance on the greenback. China exploded on the scene only AFTER Kissinger made a deal to send them American industry. Since then, they have prospered while America has gone into the toilet - and that was done INTENTIONALLY. It is no mistake that at the same time Nixon "nixed" the gold standard, thus ensuring the dollar would eventually fail. No manufacturing base; no gold; China holding most of our debt; China and Russia hoarding gold because they have been selected by the international banksters to become the "hosts" of the parasites that have done this centuries-long pump-and-dump fiat money scam. This was The Atlantis Report . Please Like . Share . And Subscribe . Thank You ....










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What it means when the Fed conducts a 'repo' operation

The Federal Reserve has been buying bonds in an effort to make sure there's enough liquidity in the system. The last time the Fed conducted a similar repurchasing operation was during the financial crisis. Here's what it means when the Fed conducts a 'repo' operation.











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David DuByne Climate Change Global Warming Facts and Fictions Interview

My guest David DuByne author of Climate Revolution explains the Climate Change and Global Warming facts and fictions, Grand Solar Minimums, and the real emergency that we take back control of our own power and destiny...












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What is The Bretton Woods Monetary System Agreement & How It Replaced the Gold Standard!

The 1944 Bretton Woods agreement established a new global monetary system. It replaced the gold standard with the U.S. dollar as the global currency. By so doing, it established America as the dominant power in the world economy. After the agreement was signed, America was the only country with the ability to print dollars. The agreement created the World Bank and the International Monetary Fund. These U.S.-backed organizations would monitor the new system. Welcome to The Atlantis Report . The Bretton Woods Agreement was negotiated in July 1944 to establish a new international monetary system, the Bretton Woods System. The Agreement was developed by delegates from 44 countries at the United Nations Monetary and Financial Conference held in Bretton Woods, New Hampshire. Under the Bretton Woods System, gold was the basis for the U.S. dollar and other currencies were pegged to the U.S. dollar’s value. The Bretton Woods System effectively came to an end in the early 1970s when President Richard M. Nixon announced that the U.S. would no longer exchange gold for U.S. currency. Approximately 730 delegates representing 44 countries met in Bretton Woods in July 1944 with the principal goals of creating an efficient foreign exchange system, preventing competitive devaluations of currencies, and promoting international economic growth. The Bretton Woods Agreement and System were central to these goals. The Bretton Woods Agreement also created two important organizations—the International Monetary Fund (IMF) and the World Bank. While the Bretton Woods System was dissolved in the 1970s, both the IMF and World Bank have remained strong pillars for the exchange of international currencies. Though the Bretton Woods conference itself took place over just three weeks, the preparations for it had been going on for several years. The primary designers of the Bretton Woods System were the famous British economist John Maynard Keynes and American Chief International Economist of the U.S. Treasury Department Harry Dexter White. Keynes’ hope was to establish a powerful global central bank to be called the Clearing Union and issue a new international reserve currency called the bancor. White’s plan envisioned a more modest lending fund and a greater role for the U.S. dollar, rather than the creation of a new currency. In the end, the adopted plan took ideas from both, leaning more toward White’s plan. It wasn't until 1958 that the Bretton Woods System became fully functional. Once implemented, its provisions called for the U.S. dollar to be pegged to the value of gold. Moreover, all other currencies in the system were then pegged to the U.S. dollar’s value. The exchange rate applied at the time set the price of gold at $35 an ounce. How It Replaced the Gold Standard . Before Bretton Woods, most countries followed the gold standard. That meant each country guaranteed that it would redeem its currency for its value in gold. After Bretton Woods, each member agreed to redeem its currency for U.S. dollars, not gold. Why dollars? The United States held three-fourths of the world's supply of gold. No other currency had enough gold to back it as a replacement. The dollar's value was 1/35 of an ounce of gold. Bretton Woods allowed the world to slowly transition from a gold standard to a U.S. dollar standard. The dollar had now become a substitute for gold. As a result, the value of the dollar began to increase relative to other currencies. There was more demand for it, even though its worth in gold remained the same. This discrepancy in value planted the seed for the collapse of the Bretton Woods system three decades later. The Bretton Woods System included 44 countries. These countries were brought together to help regulate and promote international trade across borders. As with the benefits of all currency pegging regimes, currency pegs are expected to provide currency stabilization for trade of goods and services as well as financing. All of the countries in the Bretton Woods System agreed to a fixed peg against the U.S. dollar with diversions of only 1% allowed. Countries were required to monitor and maintain their currency pegs which they achieved primarily by using their currency to buy or sell U.S. dollars as needed. The Bretton Woods System, therefore, minimized international currency exchange rate volatility which helped international trade relations. More stability in foreign currency exchange was also a factor for the successful support of loans and grants internationally from the World Bank. The IMF and World Bank . The Bretton Woods Agreement created two Bretton Woods Institutions, the IMF and the World Bank. Formally introduced in December 1945 both institutions have withstood the test of time, globally serving as important pillars for international capital financing and trade activities. The purpose of the IMF was to monitor exchange rates and identify nations that needed global monetary support. The World Bank, initially called the International Bank for Reconstruction and Development, was established to manage funds available for providing assistance to countries that had been physically and financially devastated by World War II. In the twenty-first century, the IMF has 189 member countries and still continues to support global monetary cooperation. Tandemly, the World Bank helps to promote these efforts through its loans and grants to governments. The Bretton Woods System’s Collapse . In 1971, concerned that the U.S. gold supply was no longer adequate to cover the number of dollars in circulation, President Richard M. Nixon declared a temporary suspension of the dollar’s convertibility into gold. By 1973 the Bretton Woods System had collapsed. Countries were then free to choose any exchange arrangement for their currency, except pegging its value to the price of gold. They could, for example, link its value to another country's currency, or a basket of currencies, or simply let it float freely and allow market forces to determine its value relative to other countries' currencies. The Bretton Woods Agreement remains a significant event in world financial history. The two Bretton Woods Institutions it created in the International Monetary Fund and the World Bank played an important part in helping to rebuild Europe in the aftermath of World War II. Subsequently, both institutions have continued to maintain their founding goals while also transitioning to serve global government interests in the modern-day. This was The Atlantis Report . Please Like . Share . And Subscribe . Thank You ....











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Harry Dent : Irrational Economics...and Politics

IES 2019 is right around the corner! This year couldn’t be more important as we get closer to the 2020 election so we’re hosting it right in DC. Speaking of politics, Harry Dent wants to know when the markets are FINALLY going to wake up & realize Warren is the most likely candidate...and winner. Watch now to get his take on this week’s political news & more:












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Trump: China deal has nothing to do with call for Biden probe

President Donald Trump comments on the September jobs reports, the U.S. economy, China and the formal impeachment inquiry.













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The End of The Petro Dollar -- Russia's Largest Oil Company Ditches The US Dollar

Looks like Russia has declared the petro-dollar to be the nyeto-dollar. Welcome to The Atlantis Report . Russia’s largest oil company Rosneft has set the euro as the default currency for all new exports of crude oil and refined products, as the state-controlled giant looks to switch as many sales as possible from U.S. dollars to euros in order to avoid further U.S. sanctions against it. Rosneft is the biggest oil exporter from Russia, selling around 2.4 million barrels per day of oil, according to Reuters estimates That's around $4 billion a month that will no longer be transacted in dollars. Roughly 3% of daily oil trade. Not a huge matter, but it is just one company. Good for the Russians! Besides, why do you need to trade in dollars, when most of your energy export trade goes to Europe anyway? It's best and far more logical to be dealing in Euros, (or something that has more tangible value like gold), instead. I have insider information that Gazprom is about to do the same and ditch the dollar . Russia is just the beginning.This will only increase with the One Belt One Road project . Russia knows the US Dollar global financial system is a fraudulent criminal enterprise run by parasitic murderers. I expect to see more of these moves in the future. Imagine Saudi gets taken offline with Iran, Syria, Iraq, Venezuela and Russia selling off the petrodollar. Weaponize the dollar and people start using other currencies to get around it. Being the reserve currency is a privilege, abuse it and the world will ever so slowly year by year move away from it via digital currencies and other currencies. Threats of using SWIFT as a weapon will also result in countries finding other ways of settling accounts. When you weaponize a currency, countries will run from it like AIDS. It can kill your economy. America has abused it's privilege. All fiat currencies expire. History is littered with failed currencies. The problem for the fed and the debt ridden US economy is that it cannot stand any loss of dollar funding or debt expansion. When Saudi Arabia starts taking euros, the shit is really going to hit the fan. The USA did all it could for this to happen! It is well deserved! By slamming 60% of the world with sanctions America Is driving the world off the dollar and into alternatives, but this only screws Uncle Sam faster. Accomplished by the same geniuses that killed Saddam and made Iran the only power left in in that important region. We already blew our SWIFT card and now alternatives are in place. The de-dollarization is accelerating. Most US citizens don't realize a world of de-dollarization hurt is coming our way.The US seems to have exhausted its power. They overextended and the blow back will be enormous. Bye bye petrodollar. Sovereign nations (big or small) simply do not cuddle up to vassalage. Especially when the Empire is corrupt, immoral and ridiculously depraved. Trump may have his deplorables, but the US political system has its degenerates, engaged in an absurd theater of contempt and division, as they promote fraud, totalitarianism, transgenderism, pedophilia and Wall Street's global crime syndicate under protection of the dollar system What an example to lead by, and for the citizenry to pay fealty to in their income tax extortion. What a perfect example of how "not to be" for the rest of the world to see. The Orange Buffoon must be scratching his head and asking his cabinet members what de-dollarization means and whether he can still call it "winning". We all know what academic impostors, brainless neocon loonies Peter Navarro, Mike Pompeo, Wilbur Ross, and Robert Lighthizer have to say.









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RUSSIAN S 400 vs AMERICAN PATRIOT -- Which one is Better ?!

People compare S-400 to Patriot all the time without understanding how different the two really are. The S-400 is more of a strategic anti-aircraft weapon designed to engage targets at long ranges (380 km) with limited anti-ballistic missile capability. It’s optimized for anti-aircraft role with missiles like 40N6E designed specifically for non-manoeuvring targets (AWACS, Bombers, etc.) The MIM-104 Patriot and the S-400 'Growler' are easily among the most advance multi-role air defence systems currently deployed. One must remember, that it is never effective to compare one system to another system without looking at the bigger picture. In the modern battle field, no system works on its own. Any given system has a fixed role to play and it works in sync with other systems that will eventually help achieve the goal. A detailed comparison will be lengthy and quite complicated. To start off with the S-400 is a heavy hitter with very long reach, while the patriot has a shorter engagement range. So we are talking about two very different classes of systems. But if we are to answer this query one must keep this simple and light :) Its is always simple and light (also fun) to compare open source brochures, so lets do that Ballistic Missile Defence: Let us start with BMD capability as everybody seems interested about it these days. Both the systems are multi-role (can engage aircraft and ballistic missiles). The PAC-3( Later PAC-3 MSE) variant of the Patriot interceptor is a significant upgrade over the PAC-2, and has significant anti-ballistic missile capabilities. The advertised interception range against ballistic missiles is around 30kilometers. This will be significantly higher for aircraft engagement (probably over 150 kilometers). The older Patriot variants have significant battle experience. The new PAC-3 interceptors builds on those experiences and now can provide reliable defence for friendly forces under its protection. The S-400 (an evolution of S-300 family) also fields significant anti-ballistic missile capabilities. It most probably uses the 48N6(E) or the humongous 40N6 interceptors for its anti-ballistic missile roles. The advertised max engagement altitude is approx 150 - 160 kilometers. There is no public info if these interceptors carry a purpose built interceptor to seek out incoming warheads for exo-atmospheric kills (like the SM-3 on Aegis BMD). Since there are no known real life instances (other than development tests) of an S-400 engaging a BM successfully, we will not know how effective the system really is. Engagement ranges and Radars: The S-400 is highly flexible when it comes to engagement ranges. The system uses multiple types of interceptors based on the targets range. The S-400 command node can use one of the following interceptors to bring down its target: The insane 40N6 (~ 400 kilometers) , the very long range 48N6 (~250 kilometers), the long range 9M96E2 ( ~120 kilometers) and medium range 9M96E (~ 40 kilometers). The big interceptors (which are understandably harder on the pockets) need not be used on targets flying closer and can be reserved to harass slow moving, high value targets (like AWACS, Fuel tankers, transports etc). The Russians find this approach of arming a single system with multiple interceptors most suitable for their needs. The patriot has a single type of interceptor (~150 kilometers range against aircrafts) for all types of targets, this approach has its own advantages and disadvantages. But suits the US / NATO and the other users just fine. But when it comes to detection and engagement ranges, the S-400 will probably detect, track and fire at a bogey long before the Patriot can even see it clearly. Both the systems have excellent Radar and Command/control systems that can work on fully autonomous / semi-autonomous modes. Since the S-400 is expected to hit targets at extreme ranges, the radar is more powerful than the Patriots and has longer range. So with the limited info above, one might declare the S-400 to be better, but that would probably not be fair. These are, as mentioned earlier, very different classes of weapon systems and such comparisons don't yield accurate results. The Patriot has seen quite some combat, the S-400 not so much, but it's theoretical capabilities (and from what NATO learnt from a Greek S-300 battery) make the west treat the S-400 with immense respect. The mere mention of the S-300 / 400 deploying in a certain country has altered the perception of strategic balances in the middle east. Combat record It’s worth remembering that Patriot have seen decades of real combat in several countries while S-400 have not seen any combat. Combat performance is important not only to determine actual performance but also to identify deficiencies in the system. Patriot’s performance in Gulf War highlighted several problems, specifically the warhead’s late detonation against incoming Scuds that lead to PAC-2’s guidance system being significantly improved (PAC-2 GEM+) and eventually new PAC-3’s totally different kinetic kill approach. The Iraqi Scuds breaking apart in mid-air presented another problem – leading to PAC-3’s AESA seeker head for improved target discrimination in terminal stage. All of that resulted in significantly better performance as evident from subsequent exposure in 2003 Operation Iraqi Freedom, where Patriot (PAC-2 GEM) intercepted all 9 Iraqi TBMs it engaged. Army Announces Patriot Missile System’s Performance in Operation Iraqi Freedom From January 2015 to April 2017, Patriot batteries intercepted over 100 tactical ballistic missiles in Saudi Arabia – vast majority from PAC-2 GEM. This highlights the volume of Yemeni Scuds Patriot has been dealing with in last few years. Without actual combat it’s not possible to know the limitation of a weapon system. This is S-400’s biggest problem when you’re comparing it with a combat proven system like Patriot. Better is subjective, S-400 is better if you want very long range anti-aircraft capability along with the hype at the expense of massive logistical footprint. Patriot is far superior if you want proven Theatre Ballistic Missile Defence with decent anti-aircraft range in a system that can be easily forward deployed. For countries facing serious threat of TBMs Patriot is much more practical. Western counterpart for S-400 like strategic weapons are Aegis platforms, not Patriot. In the end, these are two very different systems built with different goals in mind, both are effective, both seem to make their users sleep peacefully. So 'yay' to that.






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We Demand QE for The Masses!

Banks used to give away Toasters and Spiderman Towels to customers in exchange for a $300 deposit. With negative rates, customers will be required to bring a Toaster with each deposit and a Spiderman Beach Towel for a cash withdrawal. Welcome to The Atlantis Report . The Federal Reserve isn’t the only central bank cutting interest rates. In fact, the world is awash in easy money. The Fed met market expectations during the September FOMC meeting and lowered interest rates another 25 basis points. It was the second cut of the year and pushed the interest rate down to the range of 1.75 – 2%. Meanwhile, the European Central Bank took a decidedly dovish turn over the summer. It has even hinted at another round of “shock and awe” stimulus. And it’s not just the big central banks slashing rates. Eleven emerging market central banks cut rates in September. That follows on the heels of 14 rate cuts by emerging market central banks in August. September was the eighth straight month of net cuts by emerging market bankers. according to a Reuters report. Emerging markets went through a tightening cycle that ended in early 2019, following the lead of the Fed’s “Powell Pause.” Emerging market tightening lasted a mere nine months. In effect, we’re seeing a race to the bottom in interest rates around the world. The following central banks have cut rates in recent months. Mexico, Egypt, the Phillippines, Paraguay, China, Hong Kong, Indonesia, Jordan, Saudi Arabia/UAE/Qatar, Brazil, Vietnam, Azerbaijan, Turkey, Armenia, Russia, Ukraine, Chile, Dominican Republic, Botswana, Jamaica, Mozambique, Nambia, Mauritius, Peru, Serbia, India, Belarus, Thailand, South Africa, South Korea, Costa Rica, Sri Lanka, Tajikistan, Kyrgyzstan, Angola, Malaysia, Rwanda, and Malawi. A few countries have raised rates recently, including Kazakhstan, Moldova, Pakistan, Zambia, the Czech Republic, and Georgia, We’re seeing the impact of all this easy money. Negative-yielding debt exceeded $15 trillion globally for the first time ever in August and quickly climbed to around $16 trillion. This pile of negatively yielding paper includes government and corporate bonds, along with some euro junk bonds. WallStreet called it a “race to hell.” Central bank interest rate manipulation has longer-term ramifications. It encourages debt and discourages savings. Lower savings rates ultimately mean less money available to invest in capital goods. This does not bode well for long-term real economic growth. In the US, we’ve seen a massive pileup of debt as the Fed has held interest rates artificially low for decades. In August alone, the US government added $450 billion to the national debt. Forty of the 50 US states don’t have enough money to pay their bills. Corporate debt and consumer debt have also hit record levels. Rate cuts may create the illusion of economic growth, but building an economy on borrowing and debt simply isn’t sustainable. easy money NEVER hits the main streets or gets into the hands of the common man. What is going on is just another form of Theft of the People for the Criminals that run governments & corporations. We demand QE for the masses!










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IRS Whistleblower said Treasury tried to interfere with Trump Tax Audit

There's a BIG break coming in the House lawsuit against Treasury for the tax returns. Seems an anonymous tipster who works for the IRS reached out to Richard Neal to tell him about irregularities in the auditing of Trump's taxes . IRS head, Charles Rettig and Treasury secretary Mnuchin were both asked in hearings and letter if the required President and Vice President audits were officially performed, both refused to answer under oath...Now we know why! Welcome to The Atlantis Report . An IRS official filed a complaint alleging that he was told that at least one Treasury Department official tried to interfere with an audit of President Trump or Vice President Mike Pence's tax returns, according to the Washington Post, citing people familiar with the complaint. The whistleblower spoke to the Post and confirmed that he had filed the complaint to Congress's tax-writing committees and the Treasury Inspector General for Tax Administration. “I steadfastly refuse to discuss the substance or details of the complaint, but I have some legitimate concerns about reckless statements being made about whistleblowers,” he told the Post. The Democratic-led House Ways and Means Committee first mentioned in court documents in August that it had received credible allegations from a federal employee of potentially inappropriate attempts to influence the IRS's mandatory audit program for presidential and vice presidential tax returns. The Post's story provides details that had not been in court documents, including that the complaint was made by a career IRS employee and that it alleges potential interference in the audit program by a political employee at Treasury. The Ways and Means Committee has filed a lawsuit in an effort to obtain six years of Trump's federal tax returns, and has said it wants these documents because it's conducting oversight and is interested in legislative proposals concerning how the IRS audits presidents. The IRS's internal policies require mandatory audits of the president and vice president's tax returns, but this policy isn't codified into law. Ways and Means Committee Chairman Richard Neal (D-Mass.) told reporters last week that a decision on whether to publicly release the whistleblower complaint is "subject to what counsel advises." Some progressive activists have called on Neal to publicly release more information about the tax-return whistleblower complaint. The complaint has received increased attention in the media in recent days, following revelations of a separate whistleblower complaint reporting that Trump had asked the president of Ukraine to investigate Democratic presidential candidate Joe Biden and his son, Hunter Biden. That incident spurred House Democrats to open an impeachment inquiry. The Trump administration is urging a judge to dismiss the Ways and Means Committee's tax-return lawsuit, arguing that the committee can't require the federal courts to take a side in the dispute. The committee disagrees that the lawsuit should be dismissed. A hearing is scheduled in the lawsuit on Nov. 6. The judge assigned to the case is Trevor McFadden, a federal judge in D.C. appointed by Trump. Trump has so many Shell companies, His tax returns look like Swiss cheese. Trump could end the investigations very quickly by releasing his tax returns, and the rest of the evidence he is blocking. Whistleblowers are Making America Great Again!!






The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more