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Martin Armstrong Warns Europeans Of The Coming Expropriation Of 10% Of Everyone's Accounts
As we have discussed in depth previously (2 years ago here as "muddle through has failed" and most recently here as the IMF discussed a "one-off" wealth tax), a confiscation (akin to Cyprus overnight debacle) is coming and Martin Armstrong believes sooner than most think.
Submitted by Martin Armstrong via Armstrong Economics,
Anyone who thinks it is a fantasy that government will simply just confiscate 10% of everyone’s accounts in Europe better have another look at the fool they see in the mirror staring back at them. This IMF solution is traditionally French and is really coming because the people in charge are effectively Marxists and this idea came from the IMF under the control of French ideology. They will expropriate these funds to save a banking system that they screwed up and will never reform anything because they are incapable of admitting any mistake.
These European government officials really are playing a dangerous game that is inviting total chaos, civil unrest, and may set themselves up for invasion. Instead of Napoleon invading Russia (1812.479), it may be the other way around when they smell weakness.
Let me make this very clear. I have many French friends and they know the people in charge are just Marxists. Adam Smith wrote Wealth of Nations because he visited France to investigate Physiocracy that argued agriculture was the only real wealth. Karl Marx did not come up with Communism himself. He was more of a socialist. He did not advocate confiscating all property. It was the French movement of a commune at the time that convinced him their way was better. It was Engels who steered Marx into Communism. These ideas have emerged from France and this is why we have some of the most insane ideas still emerging from this country. There is a core philosophy among some that this socialism is correct.
The IMF proposal to expropriate everyone’s accounts in Europe will happen. The consequences could be absolutely the collapse in confidence that will be off the charts. Why should people trust government ever again or any bank for that matter?
My advice to Europe – move as much as you can... - Hollande will come up with that one you can bet. He will weaken Europe and destroy the future of generations yet to come.
When they took the funds in Cyprus, the EU did not distinguish between European, American, or Russian accounts.
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That is a total non sequitur, as well as an extremely irrational and nonsensical argument made by religionists all the time.
I do not need some arbitrary set of morals as set down by the high priets of some sky-demon-worshipping cult to provide me with a perfectly good --- in fact the ONLY perfectly good --- set of morals. And unlike any religionist, I can sum them up in one sentence: "Do unto others as you would have them do unto you". Now gee, where have I heard that before? If only the supposed advocates of the one who first made that statement could limit themselves to just that one sentence.
When you put the Truth in capitals, I hope your not referring to the organized superstition commonly called religion-based mainly on fear of the unknown, especially death. That's based upon faith (as in a sucker's born everyday). The truth is really things like the second law of thermodynamics (entropy always increases and defines times arrow), or the equivilance of graviational and inertial mass (the basis of general relativity). And even these models of reality are subject to continual testing and questioning. Blind faith whether is religion or statism permits no questioning!
Signed,
Another atheist liberatarian oxymoron (with the ability to Think and Reason).
Then why do you not read Nietzsche and understand that morality must be abandoned? That is what Nietzsche's epic, "Beyond Good and Evil" is all about.
Judging Human Behavior as Moral or Immoral is inconsistent and irrational if you belive that there is no God.
I agree with Nietzsche and every conclusion that must be adopted if one is to reject the idea of God.
Even Ayn Rand understood that....as a Libertarian. Furthermore as Ayn Rand's mentor was Nietzsche when I read Ayn Rand I am reading some parroting of hers of Nietzsche's ideals.
So Pederasty and Pedophillia is to be expected from Human Beings as it is not Good or Bad. It is just an example of Animal Behavior.
Now I understand that you may not like that. But that is a matter of PERSONAL PREFERENCE.
In fact it should not be illegal as it is not immoral and it is just an expected reaction to breed and spread your seed to as many females as possible in order that your DNA survives and outcompetes other's DNA.
After all Humans are just animals, right? It is just a matter of Survival of the Fittest.
Personally I do not ascribe to that. But the other animals in the Animal Kingdom do.
So perhaps you can reason and think about what you ascribe to do.
Tom, you keep making false analogies and positing false dichotomies, so much so that I hardly know where to start in trying to refute them.
But in short, to acknowledge that humans are related to animals physically (having of course evolved from them) says absolutely NOTHING about our mental, spiritual, and intellectual natures. The fact that we are having this conversation over the internet proves that we are much more than just "animals", in spite of sharing our physical anatomy and physiology with (some of) them.
Akak,
I think I know where Tom is going with this but he is approaching it with such crudity and stark opposing imagery, it is simply discarded. I do have a personal curiosity because I do have several atheist friends that, as you, do seem to be living exemplary lives. I would call it moral. This does seem to be contrary to what it means to be an atheist in my view. Isn't morality a religious construct? If there is no God why should we play nice in the sandbox? Aren't we then accountable only to ourselves?
And no, I'm not sure this can be explained by such things as Nash equilibrium, how conflict may be mitigated by repeated interaction or how It has also been used to study to what extent people with different preferences can cooperate to mutual benefit. There must be more going on here. Nature is violent, brutal and unforgiving and we are a part of this. Wow, did I ever feel it as we were slaughtering the chickens and turkeys ( of which I,like an idiot,made pets). However, deep in my soul I feel we are something more and our existence has meaning. Not that any religion has ever begun to explain this adequately for me.
I guess this is too big of a topic for a post and I wouldn't want you to feel I'm pushing you into an area of discomfort which is absolutely not my intent. May be Tom's though ;-)
Miffed;-)
No, no problem at all, Miffed. I simply did not have the time, at the time, to fully expand on my thoughts in my subsequent response.
To me (and I must admit I have not given this a vast amount of thought), morality boils down to a matter of justice. Just as justice must be uniform and equitable to have any meaning, a moral code must be the same. If I do not want something done to me, then I should not do that same thing to anyone else. But it goes much deeper than that. Could I live with my conscious if I went around stealing, raping, murdering and generally treating other human beings as merely resources to be exploited by force? Morality, it seems to me, is not just about avoiding the risks of punishment/sin, not just a practical matter of establishing a framework of accepted behavior which facilitates a civilized society, not just about a logical symmetry of rights and relationships between all people, but also about upholding and not damaging one's own self-worth and self-esteem.
I guess I just have always scratched my head in puzzlement when certain persons make the argument that morality cannot exist outside of religion. Not only does that seem illogical and flat-out wrong to me, for multiple reasons, but I would go so far as to say that it may very well be that no real, non-internally-contradictory morality can exist WITHIN most current religions (with the possible exception of Bhuddism, which is not strictly a religion within the Western sense anyway).
Akak,
You are correct. Buddhism is not a religion but a philosophy. There are no article of faith or ridged doctrines to follow. There is no concept of sin and repentance. It is complete freedom of thought and tolerance. My brother is Buddhist and I am quite attracted to it in many ways.
A man visiting the Buddha asked " I am living an ordinary life with a wife and children. Can you teach me how to live that would be conducive to happiness?" Buddha's response shaped my life.
1) he should be skilled,efficient, earnest and energetic in whatever profession he is engaged and know it well.
2) he should protect his income from thieves, which he has thus earned righteously with the sweat of his brow.
3) he should have good friends who are faithful, learned, virtuous and intelligent who will help him along the path away from evil.
4) he should spend reasonably, in proportion to his income. He should not hoard avariciously nor be extravagant and live within his means.
Fascinating response from someone who lived in 6th century BC. Still true today I'd think you'd agree. Buddhism always lays great stress on the development of the moral and spiritual character for a happy, peaceful, and contented society. It is the embodiment of living a just, honorable life. Someone like you exemplifies this. However, If you're expecting the world to be just with you because you are just, you are fooling yourself. That's like expecting the lion not to eat you because you didn't eat him. Our world today, as it ever has been, is anything but just.
"but also about upholding and not damaging one's own self-worth and self-esteem"
I think this is a key statement. Here is where I believe you clash with religions. Organized religion has a tendency to laud the group over the individual. Once a member, a ticket to heaven is assured. There is a lazy complacency in this and probably the visible lack of morality you cite. As long as the rules are obeyed and never questioned, there is nothing to worry about. Hell, if you even seriously fuck up there's always the confessional to expunge away the threat of damnation.This is where I lose respect as well.
I appreciate being raised as a Christian to provide me with a moral framework, but I have grown out of the need for strict rule adherence to get me through life. Valuing oneself is akin to valuing the reason you are here on Earth. Does a belief in a higher power means that you would lack self determination? I think not. Perhaps this is where you have anger.
Miffed;-)
Tall T...
post shorter trooths or skip the diatribes, we don't have time for long song and dance routines here. Things are moving very fast these days and you need to help us all keep up to speed.
To date how many BTC's has RP collected by donation?
***
I would agree with you on morality here at ZH, most here educated, have parents who hold Mutuals, that invest in BBK.A, or GE,...
All these companys GE/BBK are why the USA was destroyed, ...
The USA pensioner in the chase for high yield long ago destroyed the USA, ... read the book "america what went wrong", 1988 Barlett&Steele, its all in there,
Now we're simply seeing the death of the USA 30+ years after all the loot was stolen.
***
Glad to see you pointing out the hypocrisy here on ZH, but is that not allowed?
Long ago the man said If you want to see why the USA failed and became a Nazi Police State, you must only "Look in the mirror",
"I Have seen the enemy, and he is myself"
The lack of bank runs is all you need, to see how fucking stupid people are.
Zero, what percentage of the world's population do you think even know what the acronym IMF stands for? And what percentage of the people who know what it stands for actually know who the IMF is and what they do? And what percentage of those people are prepared to protect themselves?
Answer: The percentage of people who read Zero Hedge
Or, even better the % who have read "The Creature from Jeckyl Island". They also know about the council for foreign relations, CFR, and the world bank and their origins in Fabian Socialism and the one worlders. Both %s are very tiny, I'm guessing.
Is that chick the Weeping Cheeto's wife?
She looks kinda orange
Her neck is freaking me out.......
~~~
I think she knows how to swallow
That long neck is a french trait. you're probably freakin cuz she appears to have an ADAM'S APPLE!!!! OMG
I can't work out if the long neck is in her genes from when her ancestors were hung in the gallows or evolved from noseying over our shoulders. either way freaky
I first met her many years ago in a Dr. Seuss book.
Does anyone think the 2nd Amendment is what will keep this type of Communist thievery from one day occuring in America?
It's as simple as removing your money from the bank, and buying some other thing.
I went with PMs, bitcoin was a pain in my ass but some people enjoy that shit.
No bankers need be harmed, as fun as that may sound.
I understand that of course.
I'm talking about the 90%+ of Americans who won't see this coming. What will they do when their precious nest egg is stolen by the Collectivist thieves?
Probably vote for a different suit.
vote for more entitlements and accept whatever and whoever will give it to them (good and hard)
They'll be grateful that their leaders have allowed them to keep the other 90%. True story.
Precipice,
90%+ of americans
have no nest eggs
they have nothing to steal/nothing to lose
and, they they do not factor into any solution
sorry----wish it was different
You are right, they have nothing.
And I doubt they would know how to survive on their own.
Scary thought, a large proportion of the population just weighing the plane down.!
Of course you know what happens to dead weight in a crisis, don't you??
I have a word for you-- pensions.
Who thinks they have em?
Cops
Military
Firemen
This could get mighty interesting.
Cops in my city put up a billboard telling visitors "Danger- Enter at your own risk- This city does not support public safety." It is over letting folks go and pension issues.
The citizens should put up a billboard next to it that says "good, we can't pay for your shit anyway."
I would think TPTB would fund those since they are their captured protection goons.
Alongside PMs, farmland according to budget should be thrown into the mix. IMO.
I do not want to be a farmer mind you...just another thing as you put it.
They can tax you right off of the land you own too. Hell they could outlaw gold, and make any greenbacks currently in circulation worthless too. Or they could make you farm your farmland, and give them everything it produces. Just shut up slave, or you will never see your wife or kids again!
Wow... so agressive. But I will admit, never thought about them taxes the crap out of you. If farm land jumped to $50,000 per acre, they would net allot of property tax.
Many farms were confiscated and transferred to northern carpetbaggers after the War Between the States by this mechanism.
I work for a Florida agri-business corporaton... cattle and citrus. If the folks in Tallahassee ever recinded the "green belt" law, that allow land to be classified for valuation purpoes, accoring to it's agricultural use... we would be out of business, like tomorrow. We could not hold onto the lands, period.
all things equal, property taxes are local... if you have an issue with some new property tax on your land, then it's going to be fairly easy to politically mobilize... aside from the fact that politicians closer to home are vastly more interested in getting pork sent in than taxes or rights out...
You assume that all things would be equal. If TSHTF, all things WON'T be equal. Your friendly local .gov is nothing more than a suction cup on the tenticle of Uncle Sam. Good luck packing up your farmland and moving it.
All I am saying is that land isn't necessarily the best investment. Its hard to hide your land in the bottom of the lake.
Yes, but you can't hedge for armageddon... if we're going to assume some worst case scenario, then all your preparations are worthless because no matter what you do, you'll lose.
That doesn't keep some from trying :)
"Hell they could outlaw gold"
Has worked well in India. /sarc
I bet gold isn't very valuable in North Korea.
zero point Agreed, only leave the cash you need to for daily expenses in the bank and make that as little as possible. Large amounts of USD's should be slammed into hard assets ASAP. And I mean ASAP. Land, gold, food etc. or anything you would buy all year for your household you can purchase in advance and skirt around coming inflation. JUST DO IT!
Great post. Completely agree.
Even if we have 3 months or 3 years the time to act is now.
IMO, having some land and PMs outside the gaze of Uncle Sam is not a bad idea either.
Yep CIPHER. Not just for survival either. FUCK. THESE. GUYS. Are we seriously even discussing support for the banking sector at this point?
Anyone who would argue the other side of that one SHOULD be strung up. *Cough Krugman cough*
They can't get on top of deflation.
Yes, it is always hard to get on top of something that does not exist, never has existed, and never WILL exist.
The ridiculous notion of a fiat currency deflation is the unicorn of our time.
Yes, but the downturn may cause margin compression that kills anyone borrowing money to purchase inflationary hedges... While money printing may win in the end, the general consensus is that there will be a downturn in the meantime to spur the justification for hyperinflation... that downturn might last longer than we can remain solvent...
Oh, I am perfectly willing to acknowledge the relevance and validity of your point, MachoMan --- in the short term. Maybe even in the medium term. But in the long term, financial reality will win, as it must.
No amount or degree of pro-status-quo Establishment financial and monetary manipulation, smoke and mirrors, or propaganda is going to shake my confidence or resolve. I can stay rational and sane far longer than they can APPEAR to remain solvent.
I would further than the whole argument here depends on perspective. We are not dealing with closed systems. So far the whole 'flation debate has really gone nowhere over the last few years. Why is that? Because it is more complicated than the simple terms used to describe them - particulary in the sense of money valuation or velocity.
Velocity for sure... it hasn't gone anywhere because expansion of the money supply only creates potential inflation... If there is no velocity and the money is trapped in the banking system (and ultimately can be beamed back to the mothership/FED), then what is the effect? Well... some of the money seeps out... which inevitably finds its way to the base of the economy (commodities) and, thus, raises the price on everything we need... the supply of debt laden assets is greater than the money seeping out, so the price pressure is to the downside on these items, e.g. houses. Somehow, all of this is without wages increasing, causing margin compression for everyone, as no one can pass (much) costs on to anyone else... any costs passed on are largely based on inelasticity/necessity or luxury (where the only people that have any money can consume and enterprising people are interested in parting fools with their money).
In the end though, it really does simply boil down to money creation... the money system is closed and finite. It is complicated if you get caught up in the minutia, but the wellspring from which it all flows is the money supply.
The Great Depression? Personally I am banking on some deflation. Most prudent people would not mind a little of it.
The second amendment is a great thing, but it won't prevent this kind of theft. The second amendment is probably one of the least important compared to the 1st 4th and 5th. The second simply limits the methods and tactics an out-of-control government can use. With the 2nd in place, open violence against the public is no longer an option. It's kind of a mutually assured destruction kind of measure.
An evil regime can simply do things below the public threshold of violence to it's subjects. The 2nd amendment didn't prevent Rosevelt from stealing every US person's gold wealth. They surrendered it willingly. Cause, you know, he was a swell guy...
I would argue that the other amendments only exist today, because of the 2nd Amendment...No guns, NO rights, PERIOD!
No, the second will only prevent thievery of physical cash/metals at home. If it can be stolen with mo more effort than the stroke of a pen, it will.
@ Seek
Two things… (off topic)
First, I’m impressed with the quality of your posts in general… often demonstrating intricate knowledge of obscure topics, interesting opinions, and you’re always candid about everything... I find myself spending quite some time mining ZH for quality stuff and I appreciate the fact that you take the time... Speaking of mining, your input on crypto currencies has been very helpful; thanks for the analysis and expertise.
The other thing is about something you posted a few days ago regarding the liability in connection with relationships when you’re successful: more specifically marriage and gold diggers. It’s been nagging at me and I thought I’d throw in my two cents here, just in case your interested in one more opinion. I think you’re looking at this with the wrong perspective and the suggestion from other posters to find an attractive, very intelligent, financially independent woman, is misguided.
There is no safety in financially independent women. They might have screwed over previous spouses, nudged for many years an inheritance that eventually went their way at the expense of siblings, maybe smeared co-workers to get the big promotion… you get the picture I’m sure…
“Very intelligent” is superfluous. You don’t need a criterion like that to effectively reduce the pool of candidates. Most would say that integrity, warmth, affection, understanding and “being there” is 95% of what one needs. You can get your cerebral stimulation somewhere else without guilt.
Now, the attractive part I agree with, go all in… have some fun with it. Go for the stunner; someone outstanding, completely out of your league perhaps. I would suggest you celebrate your success, your wealth, instead of hiding it. Get a Ferrari… Porsches are for dentists. Pull out all your sophistication and impress the hell out of her, sweep her off her feet.
To avoid the liability: there is no sure thing but, consider this…
Have you ever met a gold digger who teaches kindergarten? Perhaps you should consider women with careers that need dedication to get into and offer little financial return; someone who believes in the cause. Maybe a librarian with killer legs… who drives a Kia.
If it doesn’t work out you might lose half of your wealth indeed, but if it does, you might not die alone. On a long enough timeline.
Have some fun… Happy New Year,
Good luck.
Out of the ordinary, ----- hmm let me see---- oh, got it!!! synchronized swimming,- perhaps???
Sounds to me like "Catch-22" just saw "Wolf of Wall Street" about an hour ago.
My suggestion would be to make a judgment call on a particular girl rather than stereotype them based upon their profession (or lack of one) or their net worth. If they throw money around or try to get you to throw money around, then maybe they're not for you. Aside from the fact that if you're worried about your loot, then get a prenup.
No, I don't. And I wouldn't exactly call it commie thievery. It's just corruption, desperation and state sanctioned thievery done for the benefit of the few . After the thievery occurs, however, you might just see some torches and pitchforks come out.
I'm also wondering why they'd stop at 10%. Seriously, once people start trying to get out, they'd need a lot more than 10%.
Yeah, that makes a LOT of sense.
People will shelve their firearms in lie of pitchforks and torches.
It's a metaphor, jackass.
Metaphor? LMAO.
A clumsily played, contradictory and sophomoric one.
Oh almost forgot, dealing with a name-calling little punk here so...."Dickless" .
My, how satisfying.
LOL. Don't blame me for your ignorance.
Wow, you are truly educated beyond your competance.. Shut your mouth and keep us guessing..
I've used metaphors on here before involving pitchforks, nooses, etc.
Sure shooting these fucks is effective, but more ancient methods are much, much more visible and would make a more lasting impression.
If you're confused, it was Chris Hedges who introduced the tangible pitchfork as default virtual and Russel Brand who said "karate is an idea." Think of it as Nintendo Wii Revolution you can experience from Mom's basement with all the flouridated water you can drink.
The real question becomes: Are citizens willing enough to kill bankers over 10% of their savings? Let us hope they are. Pogrom Time!
LOL.
Apparently you asked the SAME question as I did, in a way much more conducive to the mindset here. I sense some international jealousy of our precious 2nd Amendment.
(See just below)..
Most of you are fixated on bail-ins. What this article is about is the IMFs recommendation for governments to take a one-time (ha, ha) wealth tax in order to get their debt/gdp ratios in line.
I believe they're thinking that a bail-in would be the vector for that wealth tax.
Total nonsense from the latest clueless conspiracy theorist who can't even spell "advice" correctly ("My adviSe to Europe")
+ 1000 to London Dude Trader (though I detest your moniker):
"Total nonsense from the latest clueless conspiracy theorist who can't even spell "advice" correctly ("My adviSe to Europe")".
What an idiotic article about "Europe". When a blatherer such as this has nothing to say he really ought to keep his mouth shut and his fingers off the keyboard. What a complete load of rubbish.
Just as bad as the daily, consummately ignorant, broad-brush tripe we see about stupid/greedy/lazy/unsophisticated "Americans".
So, what you three are saying is:
Poor spellers advising people to be cautious about keeping funds in European banks do not understand the political capital invested in Europe. They vastly underestimate what the Euro means for the Europeans, for the Euro area.
Poor spellers cannot comprehend that the 1% ECB Reserve Requirement is more than adequate, because, "the system of reserve requirements is not needed to the same extent as under normal circumstances."
Poor spelling of a word also clearly indicates that this author is unable to recognize that Cypress was not a template.
"Poor spelling of a word also clearly indicates that this author is unable to recognize that Cypress was not a template."
Haven't you heard? "What happens in Cypress stays in Cypress".
Just like Delaware.
Aside from character assassination, could you offer any insight into why the authors arguments are incorrect?
LOL here we go again with the "proving a negative" fallacy.
they broke martin armstrong in prison. he's not the same. you can sense his fear, in his writing. at one time he had an edge. it's been dulled.
Oh yes, forgot to ask Mr. Armstrong: When do we begin burning witches again? Or perhaps a better question: Just exactly when will Americans become truly fed up with their UTTERLY SQUALID "mode de vie"?
Look elsewhere Armstrong - you're an utter wanker.
Europe is much further down the shit tube.
When will they be "truly fed up".
LOL my friend Jack Daniel is largely to blame for the LDT handle ;-)
Let me be the first to suggest a name change to London Douche Tra.. Nah you can even leave off the Trader part.
Martin a "Conspiracy Theorist" ?
That's a good one. He likes conspiracies theories about as much as Kunstler.
You have never read anything from Martin, admit it.
P.S. But he DOESN'T believe the Gov.s explanation of 911
flakmeister and Kunstler.
Einhorn and Finkel, Finkel and Einhorn.
Take your money out of the bank, its earning no interest
And anyone stupid enough not to figure it out deserves everything they'll have taken from them.
Long asstroglide and rough breakable sticks
France is filled with communists? No shit.
And the birthplace of Freidrich Bastiat, as well as Lafayette. The irony, the irony, oh it hurts!!!!
"And the birthplace of Freidrich Bastiat, as well as Lafayette. The irony, the irony, oh it hurts!!!!"
Mais non M'sieur, ca ne fait pas mal du tout quand tu parles francais.
C'est terrible que le caractère français du général de Gaulle a été complètement écrasé.
Get over it. France has been sold to the muslims and the idiotic politicians you keep on voting in are the laughing stock of the world.
I don't think you have had a lot of luck lately.
Hollande should be in asylum, oh wait--- he is!
NSA will likely one day, sweep 10% from everyone's accounts World Wide.
Your beloved NSA is already costing you Americans much more than 10% of your pittance salaries my dear...
Damn right! I should hope so.
Snowdon for, well --- something important!~
The scary party is not the 10% expropriation everyone's money. The scary part will come after this act.
Hollande? This is the whole European "experiment" flying apart. The ECB is going to be forced to raise rates here.
On the roads it was a white-line nightmare. Only those mobile enough to scavenge, brutal enough to pillage would survive. The gangs took over the highways, ready to wage war for a tank of juice. And in this maelstrom of decay, ordinary men were battered and smashed. Men like Max, the warrior Max. In the roar of an engine, he lost everything, and became a shell of a man. A burnt-out, desolate man. A man haunted by the demons of his past. A man who wandered out into the wasteland. And it was here, in this blighted place, that he learned to live again.
I found it peculiar that Tyler actually posted one of his comments (ignored in past due to anti-gold sentiment, or crazy economic AI predicting claims?)
Martin is NOT anti gold. But he DOES acknowledge that it has bull and bear cycles. So far over the last 5 years of reading him he's been better than others on when it will go up and when it goes down.
Where he DOES draw fire is that he also acknowledgest that gold CAN go down. Not Up for Ever.
His clients are VERY big money people, so gauge his opinions on what his audience is.
I have been to his conference and he has historically made some good calls. I value his articles on gold as well as he has been quite right these past years on price prediction. The thing I have a hard time with Mr Martin is this notion that he has created an artificial intelligence that understands and predicts global markets (with print outs that look like they came from a commodore 64), where no-one else has been able to do such a thing? I remain a skeptic on that. At one of his conference's he mentioned the Canadian dollar would be double the USD which has not happened (at least not yet?) With the Canadian government holding the bag on the entire Canadian housing market - I have a hard time believing the CAD will be double the USD.
Of course it will be replicated in the US. When governments get desperate they start taking
I suspect the confiscation will come in the form of mandatory 401k purchases of t-bills or something like that. It'll look like you're getting something, but it's about as good as buying the tech bubble in early 2000.
I saw an interesting bit w/Catherine Austin Fitts last night: http://www.youtube.com/watch?v=FoXZKR-89lw
Short story: The powers that be are not going to pay out the costs of retirement/medical. They've decided to invest that into more technologies that will make them more money and power. To that end, she feels the whole Obamacare thing is more of a planned cull than any help (no surprise there). Also, that it'll be easier to inflate away the obligations rather than cut them off. Not in a completely hyperinflationary way, so you'll get your $1800/mo chk, but bread might now be $10-20 a loaf.
The only hope (within this current model) is to find another planet's resources and pillage those silly.
Who cares......All the Analysts, Talking Heads, Pundits on CNBS are telling me to Buy Low and Sell High....wait they just said to BUY NOW-LOW.....they never seem to mention anything about selling!
And besides....Steve Liesman told me that the rise in Stockmarkets is due to Fundamental Growth in the underlying economy!!
So you lose 10% in Savings......the Wealthy will gain 60% in CapGains....and THEY are who REALLY REALLY MATTER!
When they took the funds in Cyprus, the EU did not distinguish between European, American, or Russian accounts.
of course they did. cyprus branch bank was open in UK, for russian mafia.
Martin Armstrong? In which 15 minute window of what day is he predicting that this will commence?
He has a DOS program which will predict the timing but you have to subscribe... and pay...
I was reading Armstrong's newsletter "articles"when he was in prison. He's a smart guy, but he certainly LOVES to talk his own book and make predictions that quickly come and go. He's certainly no oracle of the future, but his stuff is always worth consideration. He has some insight to history that is always an interesting read.
You have the right spirit about him IMO. Many other prognosticators too. Folks get too bent about what these folks have to say. We are all just humans making our best guess, though it is true some folks are bought and paid for. This is just another dude with an interesting guess. I am doing his thought experiment, however, and benefiting.
armstrong for his advice takes about 10% of what one has in bank
Can I see a raise of hands of who thinks confiscating 10% of the bank accounts in the EU will render the banks solvent again? Therein lies the problem. The banks will continually need to come back to the trough to drink but after the 1st theft the bank runs begin and only the truly retarded will leave their funds in the banks after that event. I feel that anyone trusting banks with any amount of capital more than what it takes to make payroll is crazy. Start operating in cash and set up security for that operation. Not sure what the options would be for large operations? Start their own banks or maybe some smart fuck will open a 100% backed banking operation that does nothing but safeguard cash for a fee? These fuckers are NOT to be trusted.
you do understand that the first theft already happened? and...? nothing really. i can only add that here in estonia(member of the eurozone) on monday morning after they had announced the bank holiday in cyprus during the weekend i had problems withdrawing my meager savings and major bank atm systems were down for few hours. in media they said maintenance or something along those lines. coincidence? no idea. local news about cyprus were so vague that without zh no one could have deciphered those. so only banks really know the extent of runs they had. maybe i was the only one. does it count?
RE
THANK YOU to the OP for writing this. Such an important context on Marx and what he talked about; all of which really has been hijacked by fear mongering right wingers and those on the left (who exploit his writings for power to desperate huddled masses).
Marx was probably the best I've ever seen in pointing out the problems with capitalism and the labor markets. His solutions were somewhat "meh" and overall shitty, but that's because he knew the issue of labor v capital was complex and often felt local principalities were better suited for determining the means of production; he even suggested the private sector was an important tool for "localizing" economies (The FT's Gillian Tett talks about this quite a bit)!
But then Lenin came, and the French Socialists came, and the Clintonistas came and washed this all away, all in the name of corporate statism (under the guise of "welfare" - remember, France and the US have undergone welfare and austerity under "liberal" regimes).
Corporate Statism does not equal socialism. This is a big misnomer; true leftists don't see "Communist" China or Korea uptopian havens (because neither are actually communist; they are Corporate States). Those in power in the US, UK, etc look at these states however as the main goal to run their societies (NeoLiberalism). Because unlike actual communist manifestos, running an actual communist state would requte elites to give up their wealth IN THE NAME OF THE STATE. Instead, they TAKE WEALTH FROM OTHERS FOR THEMSELVES (under the guise of "distribution").
There are very few socialist state that exist in the world today, even if the majority of corporate-ruled states call themselves as much b/c they offer some program that socialists have come up with.
So he had some really good ideas but the implementation of these good ideas failed once human nature came into them? Hell the Bible has some good ideas but when human nature gets involved, yeah you get the rest.
Every idea is only as successful as the humanity which attempts it!
Communism, Socialism, and even the much hated Capitalism have the same issue. So which ideal is better?
Why do you think they are selliong so many $30 Mil apartments in NYC. It's not for the view.
This article seems sorta thin to me.
No possibility of digging deeper?
Any discussion about deposit insurance? Just 10%..., 10%....
Plus Cyprus was not equally applied. Those in the know got out preferentially, probably to avoid getting a Russian horse head in their bed, but still.
There isn't enough popcorn for an event like this. This type of event collapses the banking system, as no one will ever trust it again. This would be the end.
The more he talks the more he looks like a banker. He spent some 13-years in jail because he would not turn over his gold coin collection to repay his Japanese investors money he stole. Now all he does is help his buddies like Simon Black(another thief) run around the world looking for a place to stash their loot.
Look moron, when a few billionaires(soon trillionaries) control all the wealth in the world along with all the means of manufacturing and agricultural production, every attempt made by governments or individuals to redress this situation is Marxist? Wealth accumulation and unwillingness to address this is what Marx said is the inherent weakness in Capitalism which leads to collapse.
Cancel all debts, institute 100% inheritance tax, raise taxes to 90% and start over again.
What the fuck are you doing on this site?
Don't limit you horizons! should read:
What the fuck are you doing!!!? LOL
Well that'll keep everyone happy. Why not go further and say "We're all one family and family members work for each other for nothing". I am number 45 of 7billion, pleased to meet you brother and see you in the soup kitchen currently manned by my uncle who is number 5318008.
(5318008 on my desk calculator that's BOOBIES when read upside down)
She is a shape shifter morphing into a Llama....
Martin Armstrong is the best source of information as we continue into the debt crisis. Governments have based their socialist programs on the rosiest projections which have fallen off a cliff. Government taxation will continue to rise and squeeze the life out of businesses and eliminate jobs for the people. Governments will also try to remove the power and freedom from the people so they can continue in power themselves.
.
ZeroHedge is the best source of information as we continue into the debt crisis.
(fixed it for ya)
Zero Hedge has been very useful to me and I've been reading it since it was on blogspot. There are a lot good posters here and many not so good posters. Some of my favorites no longer posy here such as Cheeky Bastard and Robot Trader. Form your own opinions but I don't believe in shouting people down for not being with the majority. Some people are dis-crediting Armstrong because of spelling errors while to me this is more proof he is not with some global news conglomerate. I'll just say Martin Armstrong has been the most useful single writer that I've come across since I've been browsing the Internet.
Everything with a grain of salt is good advice for sure. I concur that Mr. Armstrong is someone worth paying attention to - just like ZH (including the comments section).
ESPECIALLY the comments section.
With an array of coarse, medium, and fine filters, a pair of hip waders, and a thick skin.
I think vaccinations might also be in order. ha ha
Armstrong is pretty much a crackpot who Corozined his clients a decade ago. While the bankers wanting your money is an easy call, don't swallow all his BS. He will tell you without skipping a beat that Rome had no epsiodes of hyperinflation, and neither did anyone else. You need to fact check him on everything, especially his excuses on why he was in jail and his being the inventor of some artificial intelligence that predicts the markets. The guy absolutely melts my BS detectors.
The funniest thing Armstrong says is about how the FBI wanted his super secret AI because the government wanted it for themselves, not because they were investigating him for fraud. He twists everything around. But that is okay. He has a picture of himself with the Queen to make you forget about all that.
I have otherwise normal friends that think Armstrong is great. All the misspelled words and lousy grammar found in his website articles always put me off. If you want people to buy into your ideas, you should try to be careful how it's presented.
in an era where Slick is used to Sell Shit, i personally find the innocent mistakes refreshing. nothing beats his handdrawn & typed joints from the joint though...
I think I have been doing this too long. Everyone on Wall Street is a liar until they show you the math and the facts. Armstrong has no math and he twists facts. He relies on confidence games like a magic computer and pictures of himself with famous people. He'd probably be sporting a Don King hairdo if he weren't bald.
Anyone on here claiming they have "normal" friends are looking for an alibi!
The reason we are all here, is because we are not all there.!
As the saying goes in the asylum!
regardless of whether you choose to believe in his guilt or his innocence (or the "truth" of the circumstances thereof), the man did an incredible amount of time for a white collar crime (at least as is penalized in this country), which is incredibly more than you can say about Corzine or a thousand other cocksuckers out there who have done far worse.
Don't get me wrong, I'm okay with more Armstrong articles on ZH. He has some fans here, so it could be an interesting debate and a break from arguing about BitCoin.
(not my red arrow BTW)
That is what it is all about. Good debate. Filtering the articles. The moment this place becomes a full fledged cheerleading squad for one thing or another we either have been hoodwinked - or are at the edge of an event horizon - ha ha.
He was in essence a Political Prisoner
I might point out here that cryptocurrencies cannot be seized. Long bitcoin my friends.
Edit. So long as you do due diligence and secure them properly
they can be made illegal.
Bitcoin was really a medium of exchange on darknet before legit names started adopting. The current extent of government control over bitcoin is the licancing of the large exchanges. If bitcoin becomes illegal it they will go after the exchanges and legit retailers. At that hypothetical point bitcoin or an alternative will continue to be used to buy drugs and credit-cards. I believe that worst case scenario darknet will continue to grow and develop. The American cocaine market alone is worth 70 billion.
interesting point. the dark net will spawn the new net circumventing old protocols.
Onionland's GDP is in the hundreds of millions right now. We have'nt even seen the big players show up.
There's no way the US, EU, China will allow Bitcoin and other digital currencies to survive. Use your loaf, come on! So pick your top carefully...
If your wealth is to be confiscated by law, you, trying to evade this law are committing a crime. As a criminal trying to smuggle money out of a country. Bitcoin has the edge over cash and shiny stuff. $20,000 in mixed bills fills a shoebox. Gold sets off metal detectors. How much value do you think you can you manage to stuff in your suitcase? without getting caught by border patrols.
I hear you but i think TPTB can end 'bitcoin' at anytime. They are currently printing up an extra 75Billion/month without any complaint from the taxpayer. That is about $30,000 a second. Looks like it only takes about $660,000,000 to currently corner the bitcoin market. That is about 6 hours of printing press work. At the very least they can introduce enough volatility to denude trust in it.
Wish we had real money, instead of FRN/Debt currency, but i am skeptical that some math problem is the answer.
Your concerns are relevant however they cannot buy up the bitcoin market without raising the price. It would cost several billions to destroy Bitcoins even if they succeeded who would profit from it?
Drugs would be exchanged in Litecoins and the the community would be a few billion richer. Throwing money at it would only feed the fire.
Same could be said of gold. Uhh... Wait. That was wrong. So explain to me why again they are launching bitcoin ETF's? Oh yeah.... So they can sell bitcoin they never bought. Try again...
There is no doubt an EU wide 10% wealth tax is on the way, and also Cyprus style bail-ins for despositors of E100k and up.
These government sh*ts are bankrupt, and they will do anything to survive, no matter what the cost, which includes stealing even more money from the people.
The Socialist political class is cornered and dying in Europe, and it will lash out furiously to survive.
More stealing, more surveillance, more fascism, more head-breaking on the streets.
From here until the end of the decade are going to be the worst years since WWII in europe. And it means gold goes nuts to the upside. Watch.
Thank you Tylers for including a Martin Armstrong Post.
With President Goebbels not far behind in the United Socialist States of Amerika to be sure.
http://vegasxau.blogspot.com
The French Revolution vs the American Revoultion were God's way of showing us the choices for rule we had to select from. Limited government with individual rights and freedom as the centerpeice vs the state as the central authority providing for the needs of its subjects, the people.
In the end we have morphed into a a form of marxism that is the best alternative for those in power to maintain their power.
We had our choice, but freedom is hard.
sschu
Those Revolutions certainly did NOT come from God.
God is a totalitarian dictator,
or
when was the last time God held elections?
There will never be any elections in the Kingdom of God!
God gave us free will? With the death penalty in Hell if we choose wrong. Free will my ass.