Central Banks And The Ponzi Scheme That Will Bankrupt The World

By Egon von Greyerz – Re-Blogged From Gold Eagle

The destiny of the world is now in the hands of 6 central banks, Fed, ECB, BoE (England), PBOC (China), BoJ (Japan), SNB (Swiss). This in itself bodes extremely badly for the global financial system. This is like putting the villains in charge of the judicial system. For decades these central banks have totally abused their power and taken control of the world monetary system for the benefit of their banker friends and in some cases their private shareholders.

The central banks have totally corrupted and destroyed the financial system, by printing money and extending credit that doesn’t exist. Everyone knows that creating money out of thin air makes the money totally worthless. These bankers know, that if you stand next to the printing press and get the money first, it does have some value before it circulates. And this is exactly what they have done. Once the money reaches the people, it devalues rapidly. As Mayer Amschel Rothschild said over 200 years ago: “Permit me to issue and control the money of a nation, and I care not who makes its laws.”

Continue reading

Zimbabwe Begs White Farmers To Return As Nation Teeters On Brink Of ‘Manmade Starvation’

Crisis-torn Zimbabwe is on the brink of "manmade starvation" with most households unable to obtain enough food to meet basic standards, a UN envoy has said.

Crisis-torn Zimbabwe is on the brink of “manmade starvation” with most households unable to obtain enough food to meet basic standards, a UN envoy has said.

This comes 17 years after Robert Mugabe’s Zimbabwean government seized large swathes of land from white farmers in the country, triggering a rapid downturn in the country’s economy.

The people of Zimbabwe are slowly getting to a point of suffering a manmade starvation,” said Hilal Elver, the UN special rapporteur on the right to food.

Continue reading

Seizing Land Would Send South Africa Down the Wrong Path: U.S.

WASHINGTON/JOHANNESBURG (Reuters) – The United States warned South Africa on Thursday that seizing land without compensation risked sending the country down the wrong path, deepening a spat over Pretoria’s efforts to fix a glaring racial disparity almost 25 years after the end of apartheid.

South Africa accused U.S. President Donald Trump on Thursday of stoking racial divisions in a late-night tweet in which he said he had asked U.S. Secretary of State Mike Pompeo to study South African “land and farm seizures” and the “killing of farmers”.

Washington’s charge d’affaires in South Africa, Jessye Lapenn, was summoned by the ministry of foreign affairs over the tweet, people familiar with the matter told Reuters.

Trump’s comments inflamed an already heated debate over land ownership in South Africa, a country that remains deeply racially divided and unequal nearly a quarter of a century after Nelson Mandela swept to power at the end of the apartheid era.

Trump’s tweet appeared to be a response to a Fox News report on Wednesday that focused on South Africa’s land issue and murders of white farmers.

“The expropriation of land without compensation, our position is that would risk sending South Africa down the wrong path,” State Department spokeswoman Heather Nauert said on Thursday.

“We continue to encourage a peaceful and transparent public debate about what we consider to be a very important issue in South Africa.”

South African President Cyril Ramaphosa announced on Aug. 1 that the ruling African National Congress (ANC) plans to change the constitution to allow the expropriation of land without compensation, as whites still own most of South Africa’s territory.

Writing in the London-based Financial Times on Thursday, Ramaphosa said: “This is no land grab. Nor is it an assault on the private ownership of property.”

He has said any measures would not hit economic growth or food security. No land has been “seized” since the reform plans were announced, the ANC said.

His spokeswoman said Trump was “misinformed” and the foreign ministry would seek clarification from the U.S. Embassy in Pretoria.

“South Africa totally rejects this narrow perception which only seeks to divide our nation and reminds us of our colonial past,” a tweet from South Africa’s official government account said.

At public hearings, suggestions for expropriation included unused land, derelict buildings, circumstances where occupiers have strong historical rights, informal settlements and abandoned inner-city buildings, Ramaphosa wrote on Thursday.

And he said that the country would not make the same mistakes that other countries have made, alluding to the violent land seizures seen in neighboring Zimbabwe.

“All of us would be concerned if they went the direction that Zimbabwe did. Right now it’s just a proposal in parliament,” U.S. Republican Senator Jeff Flake, who is chairman of the Senate Foreign Relations Committee Africa subcommittee, said.

The State Department’s Nauert pointed out that Zimbabwe’s government had squashed civil society, shut down the media and destroyed an independent judiciary. “We have not seen that happen in South Africa,” she said.

South Africa’s far-left opposition firebrand, Julius Malema, who has led calls for the seizure of white-owned land, told Trump to stay out of the debate. “You have caused enough problems in Africa,” he told journalists.

Senator Cory Booker, the top Democrat on the Africa subcommittee, said Trump’s tweet showed a “painful ignorance.”

The ANC has long had a strained relationship with the U.S. Republican administration, mainly over U.S. support for Israel.

AfriForum, which mostly champions white people’s rights in South Africa, welcomed Trump’s announcement.

“Everyone in South Africa should therefore hope that the pressure from the USA will lead to the ANC reconsidering the disastrous route that they want to take SA on,” AfriForum’s CEO, Kallie Kriel, said.

He added that Trump’s comment came just three months after the organization sent a delegation to the United States to brief Fox News presenter Tucker Carlson, and the Cato Institute think tank, on the situation in South Africa.

VIOLENT CRIME

Violent crime is a serious problem across South Africa and 47 farmers were killed in 2017-18, according to statistics from AgriSA, an association of agricultural associations. However the same figures show that farm murders are at a 20-year low.

Since the end of apartheid in 1994, the ANC has followed a “willing-seller, willing-buyer” model under which the government buys white-owned farms for redistribution to blacks.

Progress has been slow and most South Africans believe something has to be done to accelerate change, providing it does not hurt the economy or stoke unrest.

“Reforming the land distribution and ownership will be good for South Africa,” said independent political analyst Nic Borain.

“That there will be instability and worries about property rights is inevitable, but we don’t expect that the government will act in a way that radically destabilizes investor security.”

Trump’s tweet came days after it was announced that his wife, Melania, would travel to Africa in October for her first major solo international trip as first lady.

CONTINUE READING –>

Anatomy Of Hyperinflation

By Michael Pento – Re-Blogged From Silver Phoenix

Two drones filled with explosives were recently deployed in a failed assassination attempt to take out Venezuelan President Nicolas Maduro. Chaos filled the streets as the military ran for their lives. But this sort of pandemonium is commonplace in Venezuela today: Where citizens have run out of basic necessities such as toilet paper and have begun eating their pets in order to stay alive. The mainstream Keynesian-brainwashed media doesn’t talk much about Venezuela or hyperinflation; perhaps because they are viscerally aware that the seeds of intractable inflation on a worldwide basis have already been sown by the global elites–and they don’t want to frighten you.

Continue reading

Price Of Gold In Venezuela

By Frank Holmes – Re-Blogged From http://www.Gold-Eagle.com

Last month in Venezuela’s capital city of Caracas, a cup of coffee would have set you back 2 million bolivars. That’s up from only 2,300 bolivars 12 months ago, meaning the price of a cup of coffee has jumped nearly 87,000 percent, according to Bloomberg’s Café Con Leche Index. And you thought Starbucks was expensive!

But that was July. Prices in Venezuela are doubling roughly every 18 days. The International Monetary Fund (IMF) now projects inflation to hit an astronomical 1 million percent by the end of this year. This puts the beleaguered Latin American country on the same slippery path as Zimbabwe a decade ago and Germany in the 1920s, when a wheelbarrow full of marks was barely enough to get you a loaf of bread.

Continue reading

Caught in a Crisis Abroad

By Scott Stewart – Re-Blogged From https://worldview.stratfor.com

The past week, a “non-coup” forced Zimbabwe’s Robert Mugabe from power. And while the Kenyan Supreme Court certified the re-election of Uhuru Kenyatta, it is almost certain the country’s political unrest will continue. But this turmoil is not really that unusual; there almost always are crisis events of one type or another roiling some part of the world during any given week. And this means that at any given time there are travelers or expatriates who find themselves caught in tense situations in a foreign country. We thought it would be helpful to provide some guidance on how to react when caught in such a situation.

Residents of Harare, the capital of Zimbabwe, thank soldiers on the street after the resignation of President Robert Mugabe.

(MARCO LONGARI/AFP/Getty Images)

Continue reading

Deepening Crisis In Hyper-inflationary Venezuela And Zimbabwe

By Mark O’Byrne – Re-Blogged From http://www.Gold-Eagle.com

– Deepening Crisis In Hyper-inflationary Venezuela and Zimbabwe
– Real inflation in Zimbabwe is 313 percent annually and 112 percent on a monthly basis
– Venezuela’s new 100,000-bolivar note is worth less today than US$ 2.50
– Maduro announces plans to eliminate all physical cash
– Gold rises in response to ongoing crises

Continue reading

When the Black Market Becomes the Real Market

By Jeff Thomas – Re-Blogged From International Man

For many years, I’ve described black markets not as the evil danger to economies that governments profess them to be, but as predictable and sensible reactions to the overregulation of official markets.

Black markets appear whenever an official market has become overregulated or otherwise unworkable due to governmental interference. They then thrive in direct proportion to the failure of official markets to function freely. They are, in fact, both a barometer and a checks-and-balances system for official markets.

Back in 2008, I commented on the growth of the black market in Zimbabwe, as that country slid from inflation to hyperinflation. At that time, the people resorted to the use of other currencies (most notably the US dollar) as black market currency. The government, desperate to force their people into the dying Zim dollar, made it illegal to use the US dollar, but this hardly made a dent in the use of what was clearly a more stable currency. The ban on the US dollar only succeeded in driving it underground. Commerce did not grind to a halt, and money did not cease to change hands. The only real change was that the Zimbabwean government was taken out of the monetary loop.

Continue reading

There Will Never Be A Sound Currency System

By Egon von Greyerz – Re-Blogged From http://www.Gold-Eagle.com

Most people have no idea what money is. They believe that if they have 100 dollars or euros, that this represents real value as well as durability. Few people realise that their currency which they call money has nothing to do with real money at all. All paper currencies are ephemeral and return to their intrinsic value of zero. This is because reckless governments cling on to power by printing or borrowing endless amounts of fiat money in the hope that they will placate the people and buy votes. Fiat money as the name indicates, can never be real money. It is issued by edict and is not backed by anything but debt and liabilities.

Power Corrupts And Money Corrupts

It is a lethal combination which not only destroys people but also nations. And sadly, we have now reached a point in history when the unlimited amounts of fiat money that have been created will also destroy continents.

Continue reading

Hyperinflation Is Nigh

By Egon von Greyerz – Re-Blogged From http://www.Gold-Eagle.com

This coming autumn we are likely to see the beginning of the hyperinflationary phase of the sovereign debt crisis. Hyperinflation normally hits an economy very quickly and unexpectedly…and is the result of the currency collapsing. Hyperinflation does not arise as a result of increasing demand for goods and services.

The course of events in a hyperinflationary scenario can be summarised as follows:

  • Chronic government deficits
  • Debt issuance and money printing escalating rapidly
  • Bonds falling – interest rates rising fast
  • Currency collapsing

Continue reading