Posted at 10:14 AM (CST) by & filed under Jim's Mailbox.

Jim/Bill,

David Stockman, Director of the Office of Management and Budget under President Ronald Reagan, has a few words to say (especially on gold):

– “The Fed drove up costs, prices and wages at 2% come hell or high water. You do that for two or three decades and, all of a sudden, you are totally uncompetitive.”

-“At the same time, it vastly inflated and subsidized a massive gambling spree and financial asset inflation on Wall Street.”

-Stockman points out that debt is the highest ever in almost every sector of the economy, and much of it is never getting paid back. Is there a big global default coming? Stockman says  “Yes, it is very likely, and this is why it is so dangerous to be in the stock market today because the whole thing is propped up by debt.”

-Stockman has been touting gold as a must-have insurance policy.  “Gold is the alternative asset to a bubble ridden financial system that is driven by the central banks.”

Pay heed, everyone.

CIGA Wolfgang Rech

Fed is Enemy of MAGA – David Stockman
February 6, 2019

By Greg Hunter’s USAWatchdog.com

Reagan White House Budget Director and best-selling author David Stockman says Fed policies over the last couple of decades hit the middle-class hard. Stockman contends, “The Fed drove up costs, prices and wages at 2% come hell or high water. You do that for two or three decades and, all of a sudden, you are totally uncompetitive. You have the highest cost structure in the world economy, and the jobs and production migrate to where companies can find lower costs and better profits. So, the Fed hit the economy and the middle-class, what I call fly-over America, with a double whammy. The Fed’s 2% inflation drove jobs offshore and undermined wages and the middle-class economy. At the same time, it vastly inflated and subsidized a massive gambling spree and financial asset inflation on Wall Street. . . . Not only was this (Fed) policy the enemy of MAGA . . . it also created a dangerous distortion in the distribution of national wealth.”

Stockman points out that debt is the highest ever in almost every sector of the economy, and much of it is never getting paid back. Is there a big global default coming? Stockman says, “Yes, it is very likely, and this is why it is so dangerous to be in the stock market today because the whole thing is propped up by debt. As soon as the defaults begin to cascade through the system, there is going to be a tremendous correction. At the same time this debt was exploding from $40 trillion to $250 trillion (globally), the balance sheet of the central banks went from $2 trillion to $25 trillion. . . . The central banks of the world have taken their balance sheets from $2 trillion to $25 trillion in roughly two decades, and all of that is one giant fraud because to buy all those assets . . . they just made it up. It was fiat credit. They issued credit . . . made out of thin air. So, what we have in the world economy underpinning this $250 trillion of debt is a massively bloated and fraudulent central banking system and balance sheet that made all this possible.”

More…

Posted at 1:21 PM (CST) by & filed under In The News.

Bill Holter’s Commentary

No credit expansion here?

Bill Holter’s Commentary

Is she spending the weekend at Bernie’s?

MYSTERY: NO Pictures From First Ginsburg ‘Public Appearance’ Since Surgery?
February 5, 2019

Supreme Court Justice Ruth Bader Ginsburg attended a concert put on by her daughter-in-law at the National Museum of Women in the Arts on Monday, marking her first public appearance since cancer surgery in December.

Attendees at the Notorious RBG in Song described Ginsburg as “glam,” and “resplendent,” and “magnificent,” but you’ll have to take their word for it.

In an era when every person is carrying a camera and isn’t afraid to use it, there wasn’t a single snap of the 85-year-old to be found. Every media story that covered her alleged appearance used file photos.

“What a delight to see RBG tonight at ‘Notorious RBG in Song,’ written & beautifully performed by her daughter-in-law, Patrice Michaels,” Post contributor David Hagedorn posted to Twitter. “She sat in the back, a few rows behind us, looking resplendent. Being hugged & wished a happy birthday by her made a grand night spectacular.”

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Bill Holter’s Commentary

…and he just recently bought gold.

Bill Holter’s Commentary

While I cannot vouch for the numbers, they seem correct. What happened you ask? They bought your votes, they were believed and no one complained until it was too late, which is now!

Apocalyptic Debt Crisis In America: 63 Of America’s Largest 75 Cities Are Completely Broke
January 31, 2019

The debt crisis in the United States of America has reached apocalyptic proportions.  A new and horrifying report out details the reason why 63 of America’s largest cities are completely broke: debt and overspending.

According to a recent analysis of the 75 most populous cities in the United States, 63 of them can’t pay their bills and the total amount of unfunded debt among them is nearly $330 billion. Most of the debt is due to unfunded retiree benefits such as pension and health care costs.  That means those depending on that money, likely won’t see a dime of it.

“This year, pension debt accounts for $189.1 billion, and other post-employment benefits (OPEB) – mainly retiree health care liabilities – totaled $139.2 billion,” the third annual “Financial State of the Cities” report produced by the Chicago-based research organization, Truth in Accounting (TIA), states. TIA is a nonprofit, politically unaffiliated organization composed of business, community, and academic leaders interested in improving government financial reporting.

“Many state and local governments are not in good shape, despite the economic and financial market recovery since 2009,” Bill Bergman, director of research at TIA, told Watchdog.org.

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Posted at 10:55 AM (CST) by & filed under Jim's Mailbox.

Jim

If it is a barbaric relic, why is everyone having a hard time getting their (!) gold back?

Dave

‘Just Bring The Gold Back’: RBA Responds As Conspiracy Theories Swirl Around Australia’s ‘Missing’ Gold
November 21, 2018

Is Australia’s gold really being secretly melted down and sold to the Chinese?

If you’re into conspiracy theories, talk of impending global economic collapse and have a deep distrust of central banks, you may have come across this one.

It goes like this. Most people would be aware that the Reserve Bank of Australia, like all central banks around the world, holds a portion of the country’s reserve assets in gold.

What you may not know, because it was only made public in December 2012, is that 99.9 per cent of Australia’s $4.4 billion worth is actually held by the Bank of England.

Of that gold, 11 tonnes is “leased” out to earn interest — it brought in around $700,000 last year — while the other 69 tonnes is sitting in a vault in London. Or is it?

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Jim,

First the Comex could not deliver and we got exchange for physical. Now London is empty. Look for gold prices to rise.

Dave

Refusal To Hand Over Venezuelan Gold Means End Of Britain As A Financial Center – Prof. Wolff
January 30, 2019

The freezing of Venezuelan gold by the Bank of England is a signal to all countries out of step with US interests to withdraw their money, according to economist and co-founder of Democracy at Work, Professor Richard Wolff.

He told RT America that Britain and its central bank have shown themselves to be “under the thumb of the United States.”

“That is a signal to every country that has or may have difficulties with the US, [that they had] better get their money out of England and out of London because it’s not the safe place as it once was,” he said.

The Bank of England is currently withholding $1.2 billion in gold from Venezuelan President Nicolas Maduro’s government, but is being urged by Washington to release it to the chairman of the National Assembly, Juan Guaido. Last week, the US backed Guaido as the legitimate president of Venezuela, after he declared himself interim president.

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Jim,

This is the point I was making on Saturday. The American Police State does not discriminate.

Jackboots in the Morning: No One Is Spared From This American Nightmare
January 29, 2019

“This is jackboots in the morning. This is an American nightmare that they would arrest somebody like this.”—Judge Andrew Napolitano

The American Police State does not discriminate.

Whatever dangerous practices you allow the government to carry out now—whether it’s in the name of national security or protecting America’s borders or making America great again—rest assured, these same practices can and will be used against you when the government decides to set its sights on you.

We’ve been having this same debate about the perils of government overreach for the past 50-plus years, and still we don’t seem to learn, or if we learn, we learn too late.

For too long now, the American people have allowed their personal prejudices and politics to cloud their judgment and render them incapable of seeing that the treatment being doled out by the government’s lethal enforcers has remained consistent, no matter the threat.

All of the excessive, abusive tactics employed by the government today—warrantless surveillance, stop and frisk searches, SWAT team raids, roadside strip searches, asset forfeiture schemes, private prisons, indefinite detention, militarized police, etc.—will eventually be meted out on the general populace.

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Posted at 11:06 AM (CST) by & filed under Jim's Mailbox.

Jim,

John Williams, of Shadow Stats, would tell us India is not the only country hiding data.

Dave

India’s Leader Is Accused of Hiding Unemployment Data Before Vote
January 31, 2019

NEW DELHI — When voters swept Prime Minister Narendra Modi into power five years ago, it was in no small part because of his vows to create millions of jobs and vault India into an era of prosperity.

But now, just months before the next general election, Mr. Modi is facing a potentially troublesome challenge on the jobs promises that may be partly of his own making.

His government was accused on Thursday of suppressing an official report on the national unemployment rate that apparently showed it had reached a 45-year high in 2017.

The Business Standard, a respected Indian financial newspaper, published leaked findings from the unemployment report, which is based on a survey and produced by the National Sample Survey Office, a government agency.

There had been expectations that the report would be released in December. Two commissioners responsible for reviewing data in the report, who had advocated releasing it, resigned in protest this week.

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Jim,

This would be a war with no winners.

Dave

President Putin Working Meeting With Lavrov And Shoigu Regarding INF Treaty
February 02, 2019

President of Russia Vladimir Putin: Foreign Minister Sergei Lavrov, please provide an update on the Treaty on the Elimination of Intermediate-Range and Shorter-Range Missiles, and the disarmament dossier in general. What is going on in terms of limitation of offensive arms?

Foreign Minister Sergey Lavrov: Mr President,

Regarding the Intermediate-Range Nuclear Forces Treaty, as you know, it has been in force since 1988. It had an indefinite term. According to the information at our disposal, the United States has been violating the Treaty since 1999, when it started testing combat unmanned aerial vehicles that have the same characteristics as land-based cruise missiles banned by the Treaty.

The United States went on to use ballistic target missiles for testing their missile defence system, and in 2014 they began the deployment in their missile defence system positioning areas in Europe of Mk 41 vertical launching systems. These launchers are fully suitable as they are for Tomahawk intermediate-range attack missiles.

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Bill,

Gambling with the house money and losing.

Dave

Abenomics Harpoons Japan’s Pension ‘Whale’
February 2, 2019

If Japan’s Prime Minister Shinzo Abe wonders about the cost of delaying vital reforms for six-plus years now, he has a Hungary-sized demonstration.

Japan’s Government Pension Investment Fund, the world’s largest of the genre, just posted a record $136 billion loss. That’s roughly equivalent to Hungary’s annual gross domestic product. With $1.39 trillion of total assets left, “The Whale,” as locals call it, could be the investment world’s biggest Abenomics casualty.

Ostensibly, GPIF fell victim to last quarter’s spectacular equities rout. The benchmark Nikkei 225 index alone lost 12% in 2018.

Yet it’s important to recognize how Prime Minister Abe’s policies aren’t just slamming the banking industry, but many a retiree in the world’s fastest-aging major economy.

More…

Posted at 10:38 AM (CST) by & filed under General Editorial.

The following are links to articles and videos on the topics from our Saturday talk. As always, I encourage our listeners to read and watch for themselves.

Dave

Geopolitical turmoil. Yes, this is why we talk geopolitics.

 

https://www.zerohedge.com/news/2019-01-29/gold-jumps-8-month-highs-geopolitical-chaos-reigns

 

https://www.zerohedge.com/news/2019-01-31/central-banks-gold-buying-spree-reaches-50-year-high

 

https://www.zerohedge.com/news/2019-02-01/central-banks-buy-more-gold-2018-any-year-1967

 

https://www.zerohedge.com/news/2019-01-31/venezuela-central-bank-begins-shipping-18-tons-gold-uae

 

What would war do to Gold over night?

 

China has unveiled a new intermediate-range ballistic missile that it claims can strike the US territory of Guam or its warships at sea. The show of strength comes as both countries square off over Taiwan.

https://www.rt.com/news/450060-china-new-missile-guam/

 

I’m not predicting it, but wars have started over less. Currency wars, trade wars, finally shooting wars. We’re currently two-thirds of the way there.  As Mick Jagger sang, a U.S.-China shooting war is “just a shot away.”

 

https://www.zerohedge.com/news/2019-01-30/us-china-war-just-shot-away

 

https://www.zerohedge.com/news/2019-01-30/armed-services-committee-chairman-warns-us-and-china-headed-world-war-iii

 

Are you sick of your gold just sitting there when it was supposed to have long since made you rich? Have you been fantasizing about a world in which your gold really does make you rich?

 

https://www.dollarcollapse.com/perfect-world-gold/

 

If it is not in your hands it is not yours!

The bank’s decision to seize – a polite word for steal – more than a billion dollars’ worth of Venezuelan gold was reported to have been ordered by the governor after a call from US National Security Advisor John Bolton and Secretary of State Mike Pompeo – not even the president himself.

 

https://www.rt.com/op-ed/450061-venezuela-gold-bank-england/

 

https://www.goldmoney.com/research/goldmoney-insights/ten-factors-to-look-for-in-gold-in-2019

 

Britain, France and Germany on Thursday launched a trade mechanism to bypass US sanctions on Iran, drawing praise from Tehran — and a warning from Washington.

 

https://www.france24.com/en/20190201-europe-eu-sets-iran-trade-mechanism-bypass-usa-sanctions-instex

 

https://www.ccn.com/iran-launches-gold-backed-cryptocurrency-as-anticipation-for-crypto-rial-grows-to-evade-us-sanctions/

 

Gold has been one of the most stable and trending assets over past 5-6 months. The shiny metal closed above the huge 1300 level two days ago, and is currently pushing highest levels since May last year. The trend channel since November lows is intact. Next big stop is at the 1350 level. It seems the story of gold giving and giving continues.

 

https://www.zerohedge.com/news/2019-01-29/gold-loves-fear-again

 

Where do you two think this is going????

 

WASHINGTON — The Justice Department unveiled sweeping charges on Monday against the Chinese telecom firm Huawei and its chief financial officer, Meng Wanzhou, outlining a decade-long attempt by the company to steal trade secrets, obstruct a criminal investigation and evade economic sanctions on Iran.

 

The pair of indictments, which were partly unsealed on Monday, come amid a broad and aggressive campaign by the United States to try to thwart China’s biggest telecom equipment maker. Officials have long suspected Huawei of working to advance Beijing’s global ambitions and undermine America’s interests and have begun taking steps to curb its international presence.

 

https://www.nytimes.com/2019/01/28/us/politics/meng-wanzhou-huawei-iran.html

 

Trumps picks. Who are they? Bolton-Pompeo-Abrams….

First they came for and killed and destroyed Yugoslavia, Afghanistan, Iraq, Libya, Syria, Yemen, and now Venezuela!

Do you think the same powers/They who have crushed all the Humans in the above country’s would have any qualms about doing the same to any one in this country who gets in there way?

https://theglobalamericans.org/2019/01/trumps-latin-america-team/

 

Please watch!!

https://www.corbettreport.com/tsa/

 

Take Roger Stone, one of President Trump’s longtime supporters, for example.

This is a guy accused of witness tampering, obstruction of justice and lying to Congress.  As far as we know, this guy is not the kingpin of a violent mob or drug-laundering scheme. He’s been charged with a political crime. So what does the FBI do? They send 29 heavily armed agents in 17 vehicles to carry out a SWAT-style raid on Stone’s Florida home just before dawn on Jan. 25, 2019.

https://www.sott.net/article/406153-Jackboots-in-the-morning-No-one-will-be-spared-from-the-American-police-state-nightmare

 

Donald Trump is no different than his predecessors! During the campaign, he said whatever he had to in order to get elected. He promised to close down the neocon foreign wars and also fight the “deep state” by draining the swamp.

Recall the role Mr. Abrams played during the Reagan years. He helped fund the Contras in Nicaragua and is linked to the 1982 El Mozote massacre of hundreds of civilians in El Salvador. It was later estimated by a UN truth commission that 85 percent of the abuses during the civil war in El Salvador were committed by military death squads assisted by the Reagan administration.

https://www.globalresearch.ca/trumps-latest-neocon-adviser-assigned-task-overthrowing-maduro-venezuela/5666693

 

Not at all. Turns out, the appointee is one of the president’s worst enemies, a man forcefully opposed to almost all of Trump’s policies and campaign promises, a man who repeatedly has said Trump is morally unfit for his office. He is Elliott Abrams, the 71-year-old éminence grise of the NeverTrump movement.

https://amgreatness.com/2019/01/28/a-plum-post-for-a-prominent-trump-foe/

 

President Trump is he any different than those who came before him!

It has emerged US Vice President Mike Pence phoned Venezuelan opposition leader Juan Guaido last week urging him to make the unprecedented move to declare himself the “acting president”, and denounce the incumbent leader Nicolas Maduro as a “usurper.

http://www.informationclearinghouse.info/50989.htm

 

It will make a big difference to the United States economically if we could have American oil companies invest in and produce the oil capabilities in Venezuela.

https://www.zerohedge.com/news/2019-01-28/venezuela-regime-change-good-american-oil-companies-says-john-bolton

 

After decrying US sanctions against Venezuela’s state-run oil company PDVSA as “illegal” and enforcing “unfair competition”, a Kremlin spokesman has reiterated that Russia is prepared to use “all mechanisms available to us” to defend its economic interests in Venezuela – interests that are closely tied to the Maduro regime.

https://www.zerohedge.com/news/2019-01-30/moscow-will-do-whatever-it-takes-defend-its-interests-venezuela

 

The U.S. is no longer in the top 10, or even the top 20, of least corrupt nations. Transparency International’s Corruption Perceptions Index for 2018 was released today and the United States has fallen four points deeper into corruption than last year. The U.S. now ranks below Luxembourg, Estonia and France, coming in at number 22 on the chart.

http://wallstreetonparade.com/2019/01/united-states-falls-deeper-into-corrupt-nation-status/

 

Years of growth, trillions in government bonds, and substantial capital sought from outside investors may see a U-Turn in the coming days as Japan’s prized economic policies were found to be reliant on fraudulent data.  As per estimates, over 40 percent of Japan’s 56 economic policies contain errors, casting a shadow on all of the country’s analysis and reports generated over the years.

https://www.ccn.com/a-scandal-unfolds-japans-impressive-growth-rates-were-a-lie-40-of-economic-data-faked/

 

The 21 Trillion dollar question! do you think Japan is the only country that lies like an old rug a dog slept on?

(Bloomberg) — The U.S. Treasury Department is set to maintain elevated sales of long-term debt to finance the government’s widening budget deficit, with new issuance projected to top $1 trillion for a second-straight year.

Read more at: https://www.bloombergquint.com/politics/another-year-another-1-trillion-in-new-debt-for-u-s-to-raise#gs.rySNEYNq
Copyright © BloombergQuint

https://www.bloombergquint.com/politics/another-year-another-1-trillion-in-new-debt-for-u-s-to-raise#gs.rySNEYNq

 

So when the curtain comes down and the investing public is forced to admit that it is all paper never to be paid back and fear sets in.  Gold goes to the moon..never to be seen again.

http://www.shtfplan.com/headline-news/apocalyptic-debt-crisis-in-america-63-of-americas-largest-75-cities-are-completely-broke_01312019

Posted at 9:55 AM (CST) by & filed under Jim's Mailbox.

Jim,

CNN fake news at it again. Only this time they are with President Trump.

Dave

Regime Change In Venezuela: Army Defectors, Russian Mercenaries And Disappearing Gold
January 31, 2019

Over the past few days, the intensity of anti-government protests in Venezuela has declined despite attempts of the US-led bloc to warm them up through both public and clandestine measures. However, the conflict continues to develop amid the acute standoff in the media sphere between the Maduro government and its opponents backed by the US-led bloc.

On January 29, CNN released an interview with two “Venezuelan army defectors” who appealed to US President Donald Trump to arm them to defend “freedom” in Venezuela. They claimed to be in contact with hundreds of willing defectors via WhatsApp groups and called on Venezuelan soldiers to revolt against the government of President Nicolas Maduro.

“As Venezuelan soldiers, we are making a request to the US to support us, in logistical terms, with communication, with weapons, so we can realize Venezuelan freedom,” one of the alleged defectors, Guillen Martinez, told CNN. Another one, Hidalgo Azuaje, added: “We’re not saying that we need only US support, but also Brazil, Colombia, Peru, all brother countries, that are against this dictatorship.”

More…

 

Jim,

File under election meddling.  Do the U.S. and its allies have a moral or ethical right to determine the political future of Venezuela?

Dave

Your Complete Guide to the N.Y. Times’ Support of U.S.-Backed Coups in Latin America
January 29, 2019

On Friday, The New York Times continued its long, predictable tradition of backing U.S. coups in Latin America by publishing an editorial praising Donald Trump’s attempt to overthrow Venezuelan President Nicolas Maduro. This will be the 10th such coup the paper has backed since the creation of the CIA over 70 years ago.

A survey of The New York Times archives shows the Times editorial board has supported 10 out of 12 American-backed coups in Latin America, with two editorials—those involving the 1983 Grenada invasion and the 2009 Honduras coup—ranging from ambiguous to reluctant opposition. The survey can be viewed here.

 

 

 

 

 

 

 

 

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Jim,

I hope all readers will take the time to read this piece in full and then ask themselves this most important question…Is Trump the Matrix’s “lady in the red dress”?

Dave

The Most Interesting Man in the World: Two Faces on the Same Coin
February 2, 2019

Presidential elections are planned distractions

To divert attention from the action behind the scenes

Like a game of chess when the house is a mess

Or a petty money squabble when your marriage is in trouble

Or a football game when there’s rioting in the streets

It’s just another movie, another song and dance

Another poor sucker who never had a chance

– Timbuk3. “Just Another Movie”, Greetings From Timbuk3 (1986), Mamdadaddi Music/I.R.S. Music, Inc. admin. by Atlantic Music

Before the big game there’s a coin toss and by the luck of the draw, decisions are made even before the teams take the field. It is the same for politics with, perhaps, the exception of luck having anything to do with the outcomes.  Regardless, the games play on our screens and we passively watch; anxiously waiting to see what happens.

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Jim,

This would lead one to conclude that John Bolton does not want the rule of law to prevail.

Dave

UN Court Judge Quits The Hague Citing Political Interference
January 28, 2019

A senior judge has resigned from one of the UN’s international courts in The Hague citing “shocking” political interference from the White House and Turkey.

Christoph Flügge, a German judge, claimed the US had threatened judges after moves were made to examine the conduct of US soldiers in Afghanistan.

Turkey’s government had earlier made “baseless” allegations to end the tenure of a Turkish judge sitting on a United Nations court known as the International Residual Mechanism for Criminal Tribunals with the connivance of the UN, he claimed.

Aydın Sefa Akay was removed following his arrest and subsequent release over alleged links to Fethullah Gülen, the US-based cleric blamed by the Turkish president, Recep Tayyip Erdoğan, for a failed coup attempt.

More…

 

Jim,

A little info on the coming 5G that all should know.

20,000 Satellites For 5G To Be Launched Sending Focused Beams Of Intense Microwave Radiation Over Entire Earth

Take the time to listen to this audio for more information.

Taos, New Mexico, August 12, 2018

Dave

 

Jim/Bill,

The Petro/Dollar is in danger…so is the Empire.

Dave

Venezuela: Let’s Cut to the Chase
February 2, 2019

Cold War 2.0 has hit South America with a bang – pitting the US and expected minions against the four key pillars of in-progress Eurasia integration: Russia, China, Iran and Turkey.

It’s the oil, stupid. But there’s way more than meets the (oily) eye.

Caracas has committed the ultimate cardinal sin in the eyes of Exceptionalistan; oil trading bypassing the US dollar or US-controlled exchanges.

Remember Iraq. Remember Libya. Yet Iran is also doing it. Turkey is doing it. Russia is – partially – on the way. And China will eventually trade all its energy in petroyuan.

With Venezuela adopting the petro crypto-currency and the sovereign bolivar, already last year the Trump administration had sanctioned Caracas off the international financial system.

More…

 

Jim/Bill,

The death of the dollar will mean a rise in gold prices.

Dave

Trump’s Brilliant Strategy to Dismember U.S. Dollar Hegemony
February 1, 2019

The end of America’s unchallenged global economic dominance has arrived sooner than expected, thanks to the very same Neocons who gave the world the Iraq, Syria and the dirty wars in Latin America. Just as the Vietnam War drove the United States off gold by 1971, its violent regime change warfare against Venezuela and Syria – and threatening other countries with sanctions if they do not join this crusade – is driving European and other nations to create their alternative financial institutions.

This break has been building for quite some time, and was bound to occur. But who would have thought that Donald Trump would become the catalytic agent? No left-wing party, no socialist, anarchist or foreign nationalist leader anywhere in the world could have achieved what he is doing to break up the American Empire.

More…