Space Oddity And Helicopter Money

By Egon von Greyerz – Re-Blogged From Gold Eagle

Siberia on Fire – every summer

By Pasi Autio – Re-Blogged From WUWT

Northern hemisphere summer – the season when forest fires in Siberia are on the loop. And usually every single new article about the Siberian forest fires somehow links them to climate change. Therefore it is good time to see how the forest fires has changed during the years. Is there really an increasing trend of Siberia forest fires as the news suggests and what is continuously predicted based on climate models?

With an area of 13.1 million square kilometres (5,100,000 sq mi), Siberia accounts for 77% of Russia’s land area. Majority of the Siberia is sparsely inhabited wilderness with little or no roads. Therefore, what sets on fire, usually burns until rain or other natural factor ends the fire. Southern Siberia also has extensive logging.

Wildfire, Siberia: 123rf.com

Figure: Natural forest fire in Russia.

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A Collapsing Dollar And China’s Monetary Strategy

Alasdair Macleod – Re-Blogged From Gold Eagle

This article describes how China can escape the fate of a dollar collapse by tying the yuan to gold. There is little doubt she has access to sufficient gold. Currently, her interest is to preserve the dollar, not destroy it, because it is the principal means of Chinese foreign interests being secured .

Furthermore, a return to sound money requires China to reverse its interventionism under Xi, returning to Deng Xiaoping’s original vision. Sound money can only last if the relationship between the state and the wider economy is properly addressed.

Of all the major economies, China’s is best placed to implement a sound money solution. At the moment it seems unlikely the necessary reforms will be forthcoming; but a general collapse of the global fiat currency regime presents the opportunity for reassessment and change.

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2020 Economic Predictions: This Series of Unfortunate Events Guarantees the Epocalypse

Look at the plethora of problems in my list of 2020 economic predictions, which are so severe and so likely to get even worse that it’s more difficult to imagine they won’t get worse than to believe they will. Some are so bad that just a few of them would plunge us into an abyss of social and financial catastrophes.

Here are my economic predictions for the remainder of 2020

This list of economic predictions is not hard to come up with. It is, however, the fact that it is so easy to predict these things this year that makes this year’s list so important.

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Gold, Copper And Silver Are Must-Own Metals

Gold surged on Monday after a spike in coronavirus cases worldwide dashed hopes of a quick economic recovery. Within 24-hours the number of infections globally rose 183,020, a new record, the World Health Organization reported, Reuters said the US saw a 25% increase in new COVID-19 cases over the week ending June 21st.

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The Crisis Goes Up A Gear

By Alasdair Macleod – Re-Blogged From Gold Eagle

Dollar-denominated financial markets appeared to suffer a dramatic change on or about the 23 March. This article examines the possibility that it marks the beginning of the end for the Fed’s dollar.

At this stage of an evolving economic and financial crisis, such thoughts are necessarily speculative. But an imminent banking crisis is now a near certainty, with most global systemically important banks in a weaker position than at the time of the Lehman crisis. US markets appear oblivious to this risk, though the ratings of G-SIBs in other jurisdictions do reflect specific banking risks rather than a systemic one at this stage.

A banking collapse will be a game-changer for financial markets, and we should then worry that the Fed has bound the dollar’s future to their fortunes.

The dollar could fail completely by the end of this year. Against that possibility a reset might be implemented, perhaps by reintroducing the greenback, which is not the same as the Fed’s dollar. Any reset is likely to fail unless the US Government desists from inflationary financing, which requires a radically changed mindset, even harder to imagine in a presidential election year.

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Gold: The Never Normal

By John Ing – Re-Blogged From Gold Eagle

During the Great Depression, stocks lost 90 percent of their value, people lost savings and jobs. Today there are a record 33 million jobless Americans, double the 15 million jobless in the Thirties or 25 percent of the population then. And today, there are long food lines that rival those of the Great Depression. Yet looking at the stock market and its robust snapback rally, the juxtaposition between the comeback and an economy in freefall is contradictory. Of interest is that at the onset of the Great Depression, stocks actually rallied 50 percent, before losing 90 percent of their value three years later. And, looking for clues about the future from the bond market is futile given the Fed’s dominant presence. While there are similarities, they are differences.

Yet few are putting forward the consequences of the inexorable rise in debt to save the world and fewer are looking at a “never normal” future.

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Will COVID-19 Reset the Global Monetary Order?

By Andrew Moran – Re-Blogged From Liberty Nation

In response to the Great Recession a decade ago, the international community fired off the big guns to stave off the inevitable decay of the global economy that had been manipulated and distorted through the Keynesian doctrine. Despite the massive fiscal and monetary stimulus at the time, many countries failed to recover from the financial crisis – and those that survived the market meltdown are still paying for the spending and bailouts. After pulling the trigger on the Coronavirus-targeted bazookas, the world’s pockets are empty, potentially creating a scenario for a reset in the global monetary order. On the other side of the lockdown, who will stand tall and reign supreme? If history is any indicator, it will either be the country with a lifetime supply of printing press ink or the one with a vault full of gold.

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Weekly Climate and Energy News Roundup #403

The Week That Was: March 21, 2020, Brought to You by www.SEPP.org

By Ken Haapala, President, Science and Environmental Policy Project (SEPP)

Quote of the Week: “There must be no barriers to freedom of inquiry… There is no place for dogma in science… And we know that as long as men are free to ask what they must, free to say what they think, free to think what they will, freedom can never be lost, and science can never regress.” – J. Robert Oppenheimer [H/t Paul Redfern]

Number of the Week: 365.2422 days.

Fiasco in the Making? Writing in Stat, epidemiologist John Ioannidis of Stanford University emphasizes the need for solid data to address the coronavirus disease, Covid-19. Ioannidis is co-director of Stanford’s Meta-Research Innovation Center, which is dedicated to improving the quality of scientific studies in biomedicine. He writes:

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The Energy Disaster Kicking Into Full Gear

By SRSrocco – Re-Blogged From Gold Eagle

There’s more evidence finally surfacing in the media of the dire energy predicament the world is now facing.  The negative ramifications of peak oil and the falling EROI were going to hit the world economy within the next 2-5 years, but the global contagion has sped up the process considerably.  Unfortunately, the world will never return back to the energy consumption and GDP growth experienced in 2019.  I believe the peak of unconventional oil production has finally arrived… FOREVER.

Here are a few highlights describing the ongoing ENERGY DISASTER taking place

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How Exactly do they Plan to Replace Fossil Fuels?

By Paul Driessen – Re-Blogged From WUWT

They want to ban coal, oil and gas. Exactly how will they replace them? Who wins? Who loses?

Berkeley, CA, Takoma Park, MD and other cities; California, Connecticut, New York, Virginia and other states; Germany, England and other countries; the European Union – all plan to banish oil, natural gas and coal within 10, 20 or 30 years. A number of US states have joined Regional Greenhouse Gas Initiatives and proudly say We Are Still Inthe Paris climate treaty, no matter what President Trump says or does.

Forget the headlines and models, and look at hurricane, tornado, sea level and other historic records. There is no crisis, no unprecedented warming or weather events, certainly nothing that proves humans have replaced the powerful natural forces that have always driven climate changes and weather events.

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US Responds to Oil Price Crash by Topping Off the Tank

By David Middleton – Re-Blogged From WUWT
Trump says U.S. to buy oil to fill up the Strategic Petroleum Reserve
By Myra P. Saefong

President Donald Trump announced Friday that the U.S. will buy large quantities of oil to fill the country’s Strategic Petroleum Reserve. “We’re gonna fill it up. It’s a good time to fill it up,” Trump said at a press conference, during which he declared a national emergency to access additional aid to cope with the spread of COVID-19. As of March 6, the SPR held a total of 635 million barrels of crude oil. Its current storage capacity is 713.5 million barrels.

[…]

Market Watch

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Weekly Climate and Energy News Roundup #402

The Week That Was: March 7 / 14, 2020, Brought to You by www.SEPP.org

By Ken Haapala, President, Science and Environmental Policy Project

Quote of the Week: “Aqueous vapor is a blanket, more necessary to the vegetable life of England than clothing is to man. Remove for a single summer-night the aqueous vapor from the air which overspreads this country, and you would assuredly destroy every plant capable of being destroyed by a freezing temperature. The warmth of our fields and gardens would pour itself unrequited into space, and the sun would rise upon an island held fast in the iron grip of frost.” – John Tyndall (Heat: A Mode of Motion, 1861) [H/t William Happer]

Number of the Week: 15,000 parts per million (ppm) v. 400 ppm

Freeman Dyson: When mathematician, physicist, and philosopher Freeman Dyson died on February 28, the world lost an exceptionally brilliant humanist. Writing in the Quadrant, Australian Tony Thomas based his comments, in part, on an extensive interview by philosopher Arnis Rītups in the Latvian Journal Rigas Laiks. The interview gives an indication of the depth and extensive interests of Dyson. It is appropriately subtitled:

“Somehow the universe has a tendency to be as interesting as possible, more and more diverse, more and more interesting.”

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Covid-19 and Russia Collusion to Kill Shale!

By David Middleton – Re-Blogged From WUWT

As the Democrat-media-fueled Covid-19 panic continues to batter the global economy, Russia thinks they see an opportunity to kill the evil capitalist “shale” players…

Russia Yanks A Leg From U.S. Shale’s Three-Legged Stool

David Blackmon Contributor, Energy

For the last two-plus years, the U.S. shale industry has been able to continue its oil boom thanks to the existence of a figurative 3-legged stool of support. Those three legs have been easily identifiable:

*The ability to legally export crude oil to other countries;
*An ongoing license to build pipelines and conduct fracking operations; and
*The continuation of the OPEC+ deal limiting exports by other oil producing nations.

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NOAA Relies on ‘Russian Collusion’ to Claim January Was Hottest Month on Record

By Anthony Watts – Re-Blogged From WUWT

Other data shows the USA wasn’t even close to a record.

In a report generating substantial media attention this month, the National Oceanic and Atmospheric Administration (NOAA) claimed January 2020 was the hottest January on record. In reality, the claim relies on substantial speculation, dubious reporting methods, and a large, very suspicious, extremely warm reported heat patch covering most of Russia.

The January 2020 Climate Assessment Report, released by NOAA’s National Center for Environmental Information (NCEI), was accompanied by a map showing a giant red menace of extraordinary asserted warmth extending from the Russian border with Poland well into Siberia. Yet, the asserted hot spot appears nowhere else.

clip_image002

Figure 1: Map of temperature departure provided by NOAA/NCEII. Note the huge red spot over Russia.

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Independence And Its Consequences

Britain left the EU on the last day of January and is an independent nation once more. The new Johnson government is confident that Britain will do well outside the EU. Free trade will be embraced, and a no-deal outcome, now dubbed an Australian trade relationship, holds no fears for the British government.

This article summarises the political and economic consequences of this historic moment. The fly in the ointment is there is no sign that Britain’s government understands the importance of sound money, which will be crucial in the event a global economic and financial credit crisis materialises.

Independence and trade negotiations

Having given independence to all its colonies, now it’s Britain’s turn. On 1 February the UK became politically independent and entered an eleven-month transition period while trade terms with the EU and other trading nations are negotiated, with the objective of entering 2021 with freedom to trade without tariffs with as many nations as possible. If Britain succeeds in its initial objectives these trade agreements will include not only the EU but also America, Japan, South Korea, Canada, Australia, New Zealand, the other trans-Pacific Partnership nations and a host of sub-Saharan African nations in the Commonwealth. It amounts to about two-thirds of the world measured by nominal GDP, of which only 21% is with the EU.

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California Energy Policies are Fueling the Housing Crisis and Homelessness

By Ronald Stein – Re-Blogged From WUWT

Founder and Ambassador for Energy & Infrastructure of PTS Advance, headquartered in Irvine, California

California’s green crusade direction and actions are increasing the costs of electricity and fuels which guarantees growth of the homeless, poverty, and welfare populations, and further fuels (no pun intended) the housing affordability crisis.

It’s scary that our leaders can’t “see” that the regressive energy policies have serious consequences for working families. Their misguided directives are intertwined with every aspect of daily life and is causing the continuous growth of poverty and homelessness from the Oregon state line on the north all the way to the Mexican border on the south.

California professes to be the leader of everything, but spouting voracious pride of being the only state in America that imports most of its crude oil energy from foreign countries, and the State that and imports more electricity than any other state, may not be in the best interest of California’s 5th largest economy in the world. Its fine to import when you get bargain rates, but both oil and electricity, are two commodities that are ultra-expensive to import and drives up the cost of everything.

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Fireside Chat With Dennis Prager #118

More than a third of millennials now approve of communism. Dennis Prager discusses why this disturbing fact is a result of the poor education system. Students today are not taught to understand the evils of communism and why it is a dangerous ideology.

Please watch the VIDEO.

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Could EV’s Be Used to “Hack” the 2020 Election?

By David Middleton – Re-Blogged From WUWT

This is fracking hilarious…

POWER TRIP
How electric vehicles could be used to hack the 2020 election
By Justin Rohrlich December 11, 2019

When former CIA director James Woolsey said in 2017 that he was “confident the Russians will be back, and that they will take what they have learned last year to attempt to inflict even more damage in future elections,” he was referring primarily to cyberattacks against electronic voting machines and voter registration databases.

That same year, professor J. Alex Halderman of the University of Michigan testified before the US Senate Intelligence Committee that the results of simulated cyberattacks on American voting machines were decidedly bleak.

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Margaret Thatcher: The Woman Who Saved Great Britain

Niall Ferguson

You’ve heard her name. You might even have seen a film about her. Bhttps://www.prageru.com/video/margaret-thatcher-the-woman-who-saved-great-britain/ut do you know the whole story of Margaret Thatcher – where she came from, what she stood for, and the impact she had on Great Britain and the world? Renowned historian Niall Ferguson explains how the Iron Lady earned her status as one of the most important and influential women of the 20th century.

Please watch the VIDEO.

CONTINUE READING –>https://www.prageru.com/video/margaret-thatcher-the-woman-who-saved-great-britain/

Is the Monetary Reset at Hand

By Chris Powell, Money Metals News Service – Re-Blogged From Headline Wealth

For most of this decade owning gold and gold-related investments has required the patience of Job, and the sector is so obscure that it is hard to be sure of anything.

But for months now the unusual developments have been piling up so much that it may be possible to regain some optimism.

There are indications of a shortage of metal not just at the New York Commodities Exchange, where for months now most contracts have been settled through a supposedly “emergency” procedure called “exchange for physicals,” but also in London, the hub of the world gold market, where the usual flow of metal to Switzerland recently reversed, with metal flowing back to London amid increasing demand.

This corresponded with announcements of gold acquisitions by central banks that had not shown any interest in gold.

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Russia Says It Has Deployed First Hypersonic Nuclear-Capable Missiles

By Andrew Osborne – Re-Blogged From IJR

Russia deployed its first regiment of hypersonic nuclear-capable missiles on Friday, the Defence Ministry said, a move which President Vladimir Putin has boasted puts his country in a class of its own.

Defence Minister Sergei Shoigu has informed Putin of the deployment, according to a ministry statement that did not disclose where the missiles were located.

The new system, called Avangard, comprises a hypersonic glide vehicle designed to sit atop an intercontinental ballistic missile, one of several new types of weapons Putin has touted as ahead of their time.

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Weekly Climate and Energy News Roundup #391

The Week That Was: December 21, 2019, Brought to You by www.SEPP.org

By Ken Haapala, President, Science and Environmental Policy Project

Quote of the Week: “Collective fear stimulates herd instinct, and tends to produce ferocity toward those who are not regarded as members of the herd.” ― Bertrand Russell, Unpopular Essays

Number of the Week: 1/1,000,000,000,000 (One part per Trillion)

The Greenhouse Effect – With Clouds: The CO2 Coalition has published a paper by Richard Lindzen addressing climate sensitivity trying to explain why US climate models do so poorly when tested against observations from nature. Until climate models can describe what is occurring in the atmosphere today, there is no reason to accept projections / predictions from such models about the future. Lindzen’s approach to the problem is different from those by Wijngaarden & Happer, and Roy Spencer discussed in the previous two TWTWs.

Among other things, Lindzen includes the influence of high-level cirrus clouds, which form above the tropopause, where water vapor freezes out. As Lindzen states:

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Fiat’s Failings, Gold And Blockchains

By Alasdair Macleod – Re-Blogged From GoldMoney

The world stands on the edge of a cyclical downturn, exacerbated by trade tariffs initiated by America. We know what will happen: the major central banks will attempt to inflate their way out of the consequences. And those of us with an elementary grasp of economics should know why the policy will fail.

In addition to the monetary and debt inflation since the Lehman crisis, it is highly likely the major international currencies will suffer a catastrophic loss of purchasing power from a new round of monetary expansion, calling for a replacement of today’s fiat currency system with something more stable. The ultimate solution, unlikely to be adopted, is to reinstate gold as circulating money, and how gold works as money is outlined in this article.

Instead, central banks will struggle for fiat-based solutions, which are bound to face a similar fate with or without the blockchain technology being actively considered. The Asian and BRICS blocs have an opportunity to do something with gold. But will they take it?

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Russia Says It Will Replace Wikipedia With State-Run Site

By Victor Tangermann – Re-Blogged From Futurism

[Blocking any site – such as Wikipedia – is censorship. No state should do it. At the same time, I’ve seen first hand how Wikipedia IS unreliable, especially on controversial subjects. Gatekeepers exercise effective censorship, keeping Americans from seeing what is not their “official party line.” One blatant example is Global Warming Alarmism. –Bob]

Last month, Russian president Vladimir Putin complained that the popular online encyclopedia Wikipedia was “unreliable” and called for it to be replaced.

Now, the Russian government has confirmed it will replace Wikipedia with an online version of the “Great Russian Encyclopedia,” Reuters reports.

“As for Wikipedia… it’s better to replace it with the new Big Russian Encyclopaedia in electronic form,” Russian news agency RIA Novosti quoted Putin as saying at a Kremlin meeting last month. “At least that will be reliable information, presented in a good, modern way.”

Kremline

It’s yet another sign that the Kremlin is taking an active role in cracking down on the types of information its citizens are able to access online. Earlier this year, Russian authorities announced plans to temporarily disconnect the country from the internet as a way to test its cybersecurity defenses.

In 2017, the Russian government also proclaimed that they plan to handle up to 95 percent of all internet traffic locally — that is, independent from the rest of the world — by 2020.

The new online encyclopedia will reportedly cost about 2 billion rubles ($31 million). The government is also planning on setting up a national research and education center to serve the Great Russian Encyclopaedia, according to Reuters.

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America’s Trade Policy Will End Up Destroying The Dollar

America’s tariffs against China are already showing signs of undermining the global economy and will create a funding crisis for the Federal Government when it leads to foreigners no longer buying US Treasury debt and selling down their existing dollar holdings. A subversive attempt by America to divert global portfolio investment from China by destabilising Hong Kong will force China into a Plan B to fund its infrastructure plans, which could involve actively selling down her dollar reserves and hastening the introduction of a new crypto-based trade settlement currency.

The US budget deficit will then be financed entirely by monetary inflation. Furthermore, the turn of the credit cycle, made more destructive by trade tariffs, is driving the global and US economy into a slump, further accelerating all indebted governments’ dependency on inflationary financing. The end result is America’s trade policies have been instrumental in hastening the end of the dollar as the world’s reserve currency, ultimately leading to its destruction.

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Eastern European Nations Buy And Repatriate Gold Due To Growing Risks To Euro And Dollar

By Mark O’Byrne – Re-Blogged From Gold-Eagle
Prudent leaders in Eastern European countries are repatriating their national gold reserves and diversifying into gold due to geopolitical risks and monetary risks posed to the dollar, euro and pound

Slovakia has joined China, Russia and a host of countries buying gold or seeking to repatriate their gold from the Bank of England and the New York Federal Reserve

Queen Elizabeth tours a gold vault during a visit to the Bank of England

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150 Years Of Bank Credit Expansion Is Near Its End

By Alasdair Macleod – Re-Blogged From GoldMoney

The legal formalisation of the creation of bank credit commenced with England’s 1844 Bank Charter Act. It has led to a regular cycle of expansion and collapse of outstanding bank credit.

Erroneously attributed to business, the origin of the boom and bust cycle is found in bank credit. Monetary policy evolved with attempts to control the cycle with added intervention, leading to the abandonment of sound money. Today, we face infinite monetary inflation as a final solution to 150 years of monetary failures. The coming systemic and monetary collapse will probably mark the end of cycles of bank credit expansion as we know it, and the final collapse of fiat currencies.

This article is based on a speech I gave on Monday to the Ludwig von Mises Institute Europe in Brussels.

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The Brave New World of Ample Oil

By Tilak Doshi – Re-Blogged From WUWT

In the oil universe, the September 14th attack on Saudi Aramco’s oil facilities is comparable to the 9/11 attacks on the twin towers in New York City. Yet, the taking out of half of the Kingdom’s oil output led not to an oil shock but a whimper. Barely two weeks after the brazen attack, oil headlines were once again dominated by fears of over-supply and falling prices amidst a slowing global economy.  Following an initial 20% intra-day price surge after the attack, the benchmark Brent crude oil price quickly retraced its steps back down to pre-attack levels.

The US oil production surge benefits Asia

The shift from a perceived world of oil scarcity to abundance has been brought about in an astonishingly short period of time by the advent of the “fracking” revolution in the US. This combines horizontal drilling and hydraulically-fracturing shale rock with high-pressure liquids to extract “unconventional” oil and gas. In the past decade, US crude oil production more than doubled. By mid-2019, US production was rated at over 12 million b/d, surpassing Russian and Saudi Arabian output as the world’s largest.

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Plans for a Global Dystopia

By Alasdair Macleod – Re-Blogged From GoldMoney

Global policy planners intend to deliver replacements for both dollar hegemony and fossil fuels. Plans may appear uncoordinated and in their early stages, but these issues are becoming increasingly linked.

A monetary reset incorporating state-sponsored cryptocurrencies will enable exchange controls to be introduced between nations by separating cross-border trade payments from domestic money circulation. The purpose will be to gain greater control over money and to direct its investment into green projects.

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The Globalists’ Race Against Time on China

By David Archibald – Re-Blogged From WUWT

To recap briefly, most of the communist countries collapsed by 1991 and the Western democratic tradition was seen as the winner of an existential battle that had waged since the Russian Revolution of 1917. Historian Francis Fukuyama called it “the end of history” because only good things would happen thereafter. Mankind’s ideological evolution had ended and Western liberal democracy would be the final form of government.

In response to that wishful thinking, Harvard historian Samuel Huntington wrote a paper, and subsequently a book, entitled The Clash of Civilizations and the Remaking of the World Order in which he predicted that with the end of ideological conflict the world would revert to a normal state of affairs characterized by cultural conflict. In particular, Professor Huntington predicted an attack by Islamists on the United States. That attack duly happened five years later. Huntington had identified China and Islam as “challenger civilizations.”

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What Makes This Gold Market Rally Different From All Others?

By Michael Kosares – Re-Blogged From Gold Eagle

1.  It is led by institutions and funds, not private investors. Global quantitative easing created a huge and mobile pool of capital in constant need of a place to call home. As the need for a safe haven became apparent among the stewards of that capital, the demand for gold flourished. The consistent presence of funds and institutions as buyers in this rally, as represented by the growth in ETF stockpiles, is one of its hallmarks and represents one of the major differences between this gold rally and rallies of the past. Though private investors have been late to the game, the rapid development of the physical market for gold coins and bullion in the United Kingdom is testament to the fact that sentiment can change quickly.

2.  Day-to-day price reversals often originate in Asia and Europe, not just the United States.  For decades, the U.S. commodity markets set the tone for gold pricing and the rest of the world was content to follow. Even the old London price fix tended to follow along with trends established in the United States.  That all changed when the Shanghai gold market began offering its own pricing mechanism and the effects of Brexit began to have a profound impact on both sides of the English Channel. Now, price reversals often begin in Asian or European markets overnight and carry over to the open in New York rather than the other way around.  All of this is a reflection of ramped up global investor interest in gold and a leveling of the playing field in terms of who and what influences the price on a daily basis.  As such, it comprises our second important difference between the current gold price rally and rallies in the past.

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Turkey Says Syria Attack Plans Complete

By Reuters – Re-Blogged From IJR

Turkey said on Tuesday it had completed preparations for a military operation in northeast Syria after the United States began pulling back troops, opening the way for a Turkish attack on Kurdish-led forces long allied to Washington.

But U.S. President Donald Trump warned he would “obliterate” the NATO ally’s economy if it took action in Syria that he considered “off limits” following his decision on Sunday to pull 50 American special forces troops from the border region.

The U.S. move will leave its Kurdish-led partner forces in Syria vulnerable to an incursion by the Turkish Armed Forces (TSK), which brands them terrorists because of their links to Kurdish militants who have waged a long insurgency in Turkey.

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Putin Dismisses Climate Messiah Greta Thunberg

By Eric Worrall – Re-Blogged From WUWT

President Vladimir Putin has dismissed Greta Thunberg’s climate crusade, suggesting she has no idea of the cost of what she is demanding.

“I may disappoint you but I do not share everyone’s enthusiasm about Greta Thunberg’s speech [to the UN]. You know, the fact that young people, teenagers pay attention to the acute problems of the modern world, including ecology. That is right and very good. We need to support them. But when somebody uses children and teenagers in their own interests it deserves to be condemned.

Nobody explained to Greta that the modern world is complicated, and complex, and it changes fast. People in Africa and in many Asian countries want to be as wealthy as people in Sweden. How can it be done? By making them use solar energy which is plentiful in Africa? Has anyone explained the cost of it?”

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China or US?

By Alasdair Macleod – Re-Blogged From Gold Money

China has made some silly errors in its conflict with the US, reflecting the arrogance that often afflicts every state actor. But the appearance that China is being backed into a corner over Huawei, trade tariffs and Hong Kong is misleading. China is progressing her own plans, and they do not require an accommodation with America. With Russia in tow, she is now the chief foreign influencer for up to three-quarters of the world’s population, so it is American hegemony that’s being backed into a corner.  One day, this will be reflected in a currency shoot-out. This article concludes that the dollar is more at risk than the yuan, the opposite of perceptions in western capital markets.

Introduction

In the undeclared war between the US and China, the focus has been on the obvious battles. Huawei has been badly wounded but looks like surviving. The trade tariff battle continues and the battle in Hong Kong is ongoing and yet to be resolved.

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Buy Greenland?

By Dan E. Way – Re-Blogged From Liberty Headline

‘The negotiated acquisition of sovereignty is a longstanding and perfectly legitimate tool of statecraft…’

Former Alaska governor Sarah Palin, who knows a little something about the geographic and historical illiteracy of Americans, supports President Donald Trump’s interest in buying Greenland.

“The media would do well to learn some U.S. history. Our country’s desire to purchase Greenland predates the purchase of Alaska,” Palin wrote in a column for Breitbart News.

Palin reminded that in 1867 Secretary of State William Seward, first appointed by President Abraham Lincoln, attempted to buy Greenland.

Then, as now, Denmark refused to sell.

Appeals Court Revives Sarah Palin Defamation Suit Against NYTimes

Sarah Palin/Photo by Gage Skidmore (CC)

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German Gold In World War-II

By Larry LaBorde – Re-Blogged From Gold Eagle

During WWII the Germans were in need of money to buy foreign materials to conduct the war. It is estimated they stole almost 500 metric tons (around 16 million troy oz equal to $23 billion USD @ $1,450 / oz) from various governments. Most was taken from Belgium, the Netherlands, Austria and Czechoslovakia. The French gold (about 2,500 metric tons or 80 million troy oz) was saved from the Germans in a rather interesting story that I will save for later.

It is very roughly estimated that around 100 tons were passed through Switzerland and then sent to neutral countries to purchase goods. There are stories of the Vatican bank helping Germany to launder and store gold as well as the German gold train buried in a tunnel in Poland and secret gold transfers to Argentina. Those stories are undocumented and have been the subjects of speculation for decades.

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US, EU And China To Revalue Gold In New ‘De Facto’ Gold Standard

By Mark O’Byrne – Re-Blogged From Gold Eagle

US, EU and China could pursue joint revaluation of precious metal

Last year 22 central banks, situated largely to the east of Germany, bought the largest amount of gold since 1967, the year the London Gold Pool collapsed. The gold repatriations by many European countries of the last few years are another sign that we are reaching the end of four decades of monetary calm.

The OMFIF is an independent think tank for central banking, economic policy and public investment

This could bring about the largest monetary changes since the closing of the gold window by U.S. President Richard Nixon in 1971.

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Europe Circumvents U.S. Sanctions On Iran

By Frances Coppota – Re-Blogged From Forbes

Europe has found a way of circumventing U.S. sanctions on Iran. The governments of France, Germany and the United Kingdom have developed a special purpose vehicle (SPV) to enable European businesses to maintain non-dollar trade with Iran without breaking U.S. sanctions. That SPV, known as INSTEX, is now up and running.

The three governments announced the successful implementation of INSTEX at a meeting of the Joint Commission of the Joint Comprehensive Plan of Action (JCPOA) on June 28, 2019. The meeting was chaired on behalf of the EU by the Secretary General of the European External Action Service (EEAS), Helga Schmid, and was attended by representatives of China, France, Germany, Russia, the United Kingdom, and Iran.

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Russia Will Be Ruined by the Clean Energy Transition

By Eric Worrall – Re-Blogged From WUWT

According to Forbes, when renewable energy programmes like Germany’s Energiewende mature, demand for Russian fossil fuel will collapse.

Will Russia Survive The Coming Energy Transition?

Jun 27, 2019, 10:35am
Ariel Cohen Contributor

A new global energy reality is emerging. The era of the hydrocarbon – which propelled mankind through the second stage of the industrial revolution, beyond coal and into outer space – is drawing to a close. The stone age ended not because we ran out of stones. The same with oil and gas.

World Energy Consumption
World Energy Consumption. By Con-structBP Statistical Review of World Energy 2017, CC BY-SA 3.0, Link

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For Those Who Don’t Understand Inflation

By Alasdair Macleod– Re-Blogged From GoldMoney

This article is a wake-up call for those who do not understand the true purpose of monetary inflation, and do not realise they are the suckers being robbed by monetary policy. With the world facing a deepening recession, monetary inflation will accelerate again. It is time for everyone to recognise the consequences.

Introduction

All this year I have been warning in a series of Goldmoney Insight articles that the turn of the credit cycle and the rise of American protectionism was the same combination that led to the Wall Street crash in 1929-32 and the depression that both accompanied and followed it. Those who follow statistics are now seeing the depressing evidence that history is rhyming, though they have yet to connect the dots. Understandably, their own experience is more relevant to them than the empirical evidence in history books.

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Baoshang Bank Could Be China’s Indybank

By Michael Pento – Re-Blogged From Silver Phoenix

For the first time in nearly 30 years the Chinese central bank and the Banking Regulatory Commission announced it would take control of one of its banks. The troubled Mongolia-based Baoshang Bank had assets of 576 billion yuan ($84 billion) and its seizure is indicative of the deteriorating health of small-scale banks, mostly in rural areas and in smaller cities, as China’s economy slows.

The turmoil surrounding its conservatorship has led interbank lending rates to spike, forcing the Bank of China to inject billions of yuan to quell the fear of systemic contagion. For years China’s regional banks have used shadow-financing to obfuscate their exposure to precarious borrowers. While China has made an effort to rein in shadow-banking activity, this is the first time in decades that regulators have assumed control of a bank in this way. In 2015 and 2016, they recapitalized lenders and merged stronger banks with weaker ones, but these restructuring efforts were disorganized, inadequate, and didn’t address the main issue at hand…insolvency.

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New US Sanctions Spark Blowback Against Federal Reserve Note Dollar System

By Clint Siegner – Re-Blogged From Gold Eagle

US leaders are demanding the rest of the world recognize economic sanctions and stop buying Iranian oil. The U.K., Germany, France, Russia, China, and India are among the nations who don’t fully support the sanctions and would rather not pay higher prices for oil elsewhere.

American officials more and more often resort to delivering ultimatums, both to adversaries and allies alike. Nations that do not follow orders stand to lose access to the US financial system and could face trade sanctions of their own. That is a serious threat.

The huge majority of international trading is underpinned by US. banks and the dollar. Other currencies and banking systems cannot offer the same level of liquidity and convenience.

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Mexico to Limit Migrants Crossing Border

By Thomson Reuters – Re-Blogged From Newsmax

Mexican and U.S. officials held a second day of talks on trade and migration on Thursday, with markets rebounding on optimism a deal could be close, although it was unclear if Mexican pledges to curb migration flows were enough to persuade the Trump administration to postpone tariffs.

U.S. President Donald Trump has warned that tariffs of 5% on all Mexican exports to the United States will go into effect on Monday if Mexico does not step up efforts to stem an increase in mostly Central American migrants heading for the U.S. border.

Bilateral talks in Washington began on Wednesday to attempt to strike a deal, with the Mexican government, U.S. business groups and even many of Trump’s fellow Republicans keen to avert the tariffs, the prospect of which has rattled global financial markets.

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US Fighter Jets Intercept Russian Bombers Approaching American Airspace

By Jack Davis – Re-Blogged From Main Street Patriot

Six Russian warplanes were intercepted by U.S. jets Monday after they flew into the Alaskan Air Defense Identification Zone in a tactic the commander of the North American Aerospace Defense Command says will continue to be repeated.

A NORAD press release said the U.S. put four F-22s and an E-3 Airborne Early Warning and Control System in the air to intercept four nuclear-capable Tupolev Tu-95 bombers and two Su-35 fighters.

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Legislation Requires Full Audit Of America’s Gold Reserves

By Stefan Gleason – Re-Blogged From Gold Eagle

Washington- U.S. Representative Alex Mooney (R-WV) introduced legislation this week to provide for the first audit of United States gold reserves since the Eisenhower Administration.

The Gold Reserve Transparency Act (H.R. 2559) – backed by the Sound Money Defense League and government accountability advocates – directs the Comptroller of the United States to conduct a “full assay, inventory, and audit of all gold reserves, including any gold in ‘deep storage,’ of the United States at the place or places where such reserves are kept.”

HR 2559 requires more than just a physical assay, inventory, and audit, however. Even if all United States gold can be physically accounted for, it may nevertheless be encumbered with third-party obligations – or otherwise be impaired by bank financialization.

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Space: The Final Frontier for War?

 By Omar Lamrani – Re-Blogged From Stratfor
Highlights
  • The U.S. military will continue to debate the relative merits of creating a Space Force that is separate from the other branches of the U.S. armed forces.
  • In the absence of international standards regulating conduct in space, the risks will grow that the United States, China and Russia will accelerate their own efforts to militarize the theater.
  • Treaties stipulating a blanket ban on weapons in space are unlikely to succeed in the foreseeable future because of their significant limitations and concerns over the ability to verify compliance.

Trump Admin Weighs Options in Venezuela, Including Military

By Franco Ordoñez and Tara Copp, McClatchy – Re-Blogged From Liberty Headlines

‘All options are comprehensive but there is a lot of water nearby…’

Venezuela Offers Free Return Flights to Citizens Who Fled Socialism

Venezuelan President Nicolas Maduro (CC)

In the aftermath of a faltering opposition uprising in Venezuela, the Trump administration is looking at imposing new individual sanctions against the Maduro government and also scrambling for ideas that can have a greater impact on the ground, including military options.

The White House is calling for relevant departments to produce more options for the president to consider on Venezuela. The National Security Council is pushing the Defense Department for military ideas, and Secretary of State Mike Pompeo is seeking ways to entice Russia to pull away from Venezuelan leader Nicolas Maduro.

 

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World’s Monetary Reserves And The End Of An Era

By Hugo Salinas Price – Re-Blogged From Gold Eagle

We had been observing the evolution of the total of Central Bank Monetary Reserves for several years, and noted a peak on August 2, 2014, when these Reserves reached a maximum of the equivalent of $12.032 Trillion dollars, according to Bloomberg.

As of April, 2019, a review of Central Bank Monetary Reserves, according to Bloomberg, yields some interesting information.

In August 2014, the dollar amount of CB Monetary Reserves was, as we just said, $12.032 Trillion dollars, and as of April 19, 2019, CB Monetary Reserves had fallen by $479 Billion dollars, to $11.553 Trillion dollars.

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