For “Big Picture” I think we can substitute “Theory of Everything”. We’ve been discussing the Niger coup for the past few days, and especially the attempts of the Neocolonial West to force Niger back into line. As we pointed out this morning, that attempt appears to be failing. France seems to have realized that it isn’t a position to accomplish that on its own. The US attempted to dragoon the ECOWAS countries—led by the US proxy president of Nigeria—into invading Niger. That move failed when the Nigerian senate refused to go along, and most countries north of ECOWAS basically presented a solid front against such moves. The opposition of Algeria was probably the nail in the coffin.
To chime in here. Yes, France's entire domestic pricing system is based on the support it gets from extracting the wealth of N. Africa to fund its ridiculous welfare state. Putin, of course, had a hand in N. Africa, Wagner has been there for a long time prepping the ground there. Putin and Lavrov have been on the 'charm tour' with Africa, esp. pivotal Mediterranean states like Algeria, Egypt and Morocco.
So, Niger blowing up like it did shouldn't really surprise us as the signs were all there. This is an area of my knowledge that is thin, so I'm learning in real time like many, while trying to pick at threads that make sense.
Look at the price action in the bond markets since Friday's jobs report... no real news and yet the US yield curve, again, moves down 20+ basis points to keep Euro-zone bond yields from breaching Lagarde's red lines.
France is the weak link in the EU tripod because of N. Africa. Macron made moves against Meloni in Italy, she responded by making sure the world knew about the CFA Franc. Germany is beholden to the Neocon Greens for now. Nuland wants France to stay afloat by trying to salvage Niger and have Macron back into the Rah Rah Ukraine fold.
Meloni has already told everyone she's on board with Team USA, because that's the best path for Italy in the end. Not a WEFfer, just playing a dangerous game as the gal in the middle everyone is fighting over. IT's all about Europe. And it always goes back to the Crown's obsession with getting collateral for its financial empire.
1. Re "Putschist" I remark below that it sounds weirdly like communist style rhetoric.
2. Any brief comment would be appreciated re: A. Mercouris' statement yesterday about the scope of US Treasury borrowing to come (I extract it in the post)--$1 trillion or more. In comments below I recall that Powell stated not long ago to Congress that he did NOT feel obligated to monetize all government spending and I also reference your views on Yellen's hat-in-hand trip to Beijing.
1. Nuland et.al. are simply going hysterical with all of their rhetoric at this point. Everything is a 'putsch' or 'far-right nazi' or 'insurrection.' The hysterics are a mark of desperation and exasperation, IMO. this is a good thing.
2. Yes, Yellen is planning on $1.7+ trillion in borrowing between now and the end of 2023. Insane. Powell is not helping them out. I have made the point in previous articles that there is some new mysterious buyer coming in to keep the US Yield Curve from rising. It's not 'the market.' That's bullshit. The Treasury International Capital report (three months in arrears) provides the gross evidence. The Euro-zone is buying like mad to keep the ECB from going bankrupt.
Powell, knows this and has been blunt in saying, "This is all your problem, not ours. We are doing what needs to be done. Fend for yourselves." Davos and their minions are like a badly-behaved dog that refuses to submit. Everything you're seeing now is simply them squirming to get out from underneath the big hand on their chest. Once you see it that way, it all becomes very obviously clear.
"Biden" won't submit here. They will keep things locked up on The Hill to prevent spending reforms. So they can continue to push towards a breaking point while the Brits run more psy-ops on the American people that "national divorce" is the only way. This is 1858 all over again.
Great, Tx a bunch. I don't follow the financial markets so it's great to get backup like this when commenters claim that Powell is somehow working hand in glove with Yellen.
Nuland, in her statement following her whirlwind Niger trip, refers repeatedly to "Putschist" leaders. Luongo asks, 'Who really speaks like that?' It sounds weirdly like communist style rhetoric to me. Normal people these days use 'coup'.
Putsch is an obvious reference to Nazi Germany in the early years of their rise. The beer hall putsch.....Everything they dislike, disagree with and hate is either called Nazi or white supremacist.
Eventually, Europe is going to have to break with the neocon loons and go grovelling back to Russia. The problem is that none of the current leaders will do that. They are all compromised and weak. As for Niger, I don't often disagree with the Duran boys, but I think they are wrong when they said that Russia had nothing to do with the coup. If you're Putin, and you're seeing daily attacks on your country by the neocons, you will be definitely be thinking of creative ways to retaliate. The Western powers are completely overstretched, with bases all over the world. I'm sure the Moscow leadership is fully aware of this and won't be able to refrain from spreading the pain. Meanwhile, the days are already getting colder here in Europe, so I'm off to cut some firewood. I might need it.
BASF's Ludwigshafen chemicals site is the largest in the EU (could be world's largest chem production site) covers square miles. While true BASF is closing energy-intensive production lines at Ludwigshafen (crushed by the flip on energy costs due to the Ukraine war tragedy), the site is not globally shutdown. I do think that unless energy costs for industry return (this is Steghorn21's point about EU reconnecting economically with Russia) to pre-war levels, Ludwigshafen chems will be no more. BASF is probably the EUs biggest loser from the Ukraine fiasco
Hi Ashowa - BASF has seven plus 'mega'-sites (Verbund sites) all over the world. They specialize in competing at scale for particularly unique/lucrative/intense chemicals needs in a given area. https://www.basf.com/global/en/investors/basf-at-a-glance/verbund/sites-worldwide.html Their first China site got a go-ahead in 2020. The US hosts a Verbund in the South East. While I think we agree on the awfulness (& utter foolishness) of WEF-driven globalist plans, evidence like reduction of steel-production in Germany doesn't correlate to a controlling demand signal for the Ludwigshafen chemicals site. It is only a small piece. The Ludwigshafen Verbund was the first Verbund site and is over 150 years in development: they make chems for everything at that site (or used to ...). The reset plans have evidence of existing (such hubris!), but the evidence for success of said plans is wanting, and the evidence for rejection of reset plans by many cultures and countries (Kenya just told the cryptocoin outfit that wants your retina scan as 'proof' of your identity to bugger-off) is plainly in view.
This link is from a Meaning-in-History commenter on a later posting by Mr Wauck, and is a description of how very effective the Canadian Trucker protest was at shifting Canadian politics and getting excellent results - despite the media impression of utter failure. https://twitter.com/FromKulak/status/1688728579524210688
The pushback is real, the gas-lighting by the gov't-media complex very energetic. Caveat emptor!
Very important stuff. Thanks. The Fed is "actively defending Wall St. and leaving the Biden Administration out to hang, not helping it achieve its goals, destroy the United States." They will not "dump all of this on Trump" as the worst is coming before the election, and if it doesn't Trump will make sure to lose the election. Biden, or Michelle, will be the new Herbert Hoover. Trump will then rebuild, if we want him.
FWIW, I'm pretty sure the failures of Silicon Valley Bank, Signature Bank, and First Republic Bank last Spring did result in a definitional 'panic'. My son's firm spent a sleepless week trying to move substantial 'uninsured' deposits out of these banks to safety. Whether the conditions leading to this week's ratings downgrades and 'watch' and subsequent selloff eventually results in a 'run' on some banks' deposits we'll just have to see, but -- semantics aside -- it is not good news for the banks and their stockholders or for their customers and consumers.
The SVB, Signature, etc banking situation has a bigger profile than it should because the media puffed the scary-narrative engine up. That was to cover the fact that the Gov't response was an un-warranted bail-out of the depositors. Had things progressed the way they should have, the big-bucks depositors would likely have gotten 70-85% of their monies back and the event is would have reinforced Da Rules. Instead, the Gov't has implied coverage of *all* bank deposits, no matter the size. This isn't sustainable - no way shape or form - so the salient outcome is a two-tier banking system: big enough and connected to the 'right' politicians, you are golden, otherwise, tough-nuggies
I believe we agree on this. But when you say 'government' aren't we basically talking Treasury Department? Luongo's point of interest is that Powell at the Fed is taking steps that put extreme pressure on banks to get their houses in order--not because he runs the banks but because he believes those steps are necessary for the integrity of the dollar. Treasury is largely in control of bailouts, in my understanding. The Fed's "discount window" facility, as Luongo and DDB describe what's going on, is very far from a bailout--it's a very expensive way to try to stave off failure, not a freebie.
Hi Mr Wauck - we do agree; I hesitated on making the clarifying comment 'Treasury' or 'Federal Reserve' (shame on me, I generally go find out myself and am familiar with Luongo's Treasury/Fed thesis), as the deposits are covered by the FDIC (Federal Deposit etc), and "Fed" in a name under Treasury authority gave me pause. I appreciate your time & energy with what you share and elevate through MiH - a gem
A bank failure isn't a "bank panic". Four bank failures in four months isn't a "bank panic". But Luongo never said there wouldn't be bank failures in our future--quite the contrary. He knows there will be because, get ready for this, there have been bank failures in the past--including in the last four months. Luongo knows all that. But he also knows what a "bank panic" and is not. I criticize Luongo's libertarianism, but I don't do it by inventing my own definitions. I take his predictions for what they're worth to me and compare them to his track record--which happens to be pretty good in the macro scheme.
A banking crisis isn't a "bank panic". Luongo specifically used the term "bank panic" for a specific type of event. Until there's a "bank panic" as defined you need to stop impugning Luongo's predictions based on eccentric definitions. We'll find out soon enough whether he's right or wrong, but nothing you've said shows that he's wrong NOW.
I looked at that article and it doesn't justify your claim that the market is signalling a bank panic to come. Your characterization is also inaccurate.
Bobby A: "a broad selloff" implying "the market" got hammered.
ZH: "Bank Stocks Slide", **S&P Regional Bank Index down around 3%** in the early market
ZH also states: "but in context" and then presents a chart that compares the S&P Regional Bank Index after SVB and today--not remotely similar, and SVB didn't lead to a bank panic.
A banking panic or bank panic is a financial crisis that occurs when many banks suffer runs at the same time, as people suddenly try to convert their threatened deposits into cash or try to get out of their domestic banking system altogether.
From the context of TL's remarks it's quite clear that his use of the term "bank panic" mirrors the definition that most of us have, which is as Wikipedia puts it.
Towards the end (34:00) he talks of an anti-human system and eugenics, which vies for being the "end game" and is coming out more likely. Certainly for those of us with spiritual lenses, I don't think the 'creation' of a novel social environment is the objective behind the manipulation. Changes are being wrought by destruction. Ultimately anti-human - which is what I see in so much of current events - is anti-God as humans bear the divine image.
I don't agree that the WEF is increasing it's control, Ashowa. It's TRYING to increase it's control but is often failing. The awful Bud Light campaign, debanking of alternative voices and Big Tech censoring have all, to varying degrees, met massive opposition and failure. 30% of people also stood strong against the Vaxx putsch and saw off the lockdowns. Certainly, there's no room for complacency in the fight against evil, but we are winning many battles.
More than a wish Ashowa - we can look at 'debanking' in the UK for but one example: it has been happening and is quite evil; and then was done to Nigel Farage, who knows a thing or two about media use. The result of his escalations are the firing of the chairpersons at NatWest and Coutts banks ( https://www.telegraph.co.uk/news/2023/07/31/nigel-farage-all-banks-guilty-debanking-fca-coutts-account/ ). Pushback is just getting going and appears energetic across a whole host of woke fronts.
I get your anger and concern, Ashowa, I really do. However, this war has only just begun. It's going to be a long one and I don't think we should be falling into total despair quite yet. I'm sorry, but there ARE a lot of good things happening now. Take the broader picture: the Davos dream of one-world control died the day the BRICS came together. Of course, that doesn't mean that those BRICS nations will all be friendly to democracy - China, anyone? - but it does mean that there is now no chance that the WEF will triumph over the globe. Now let's look at the component issues: for the Vaxx, I don't believe most of the sheep have quite woken up yet, but as noted today on Zerohedge, take up of the anti-Covid vaxxes is in the basement and Moderna and Pfizer share prices are being murdered. As for the trans madness, the fight back there is probably the brightest sign of hope of all. It's not just freedom activists fighting back, but ordinary people too. They are simply refusing to buy products from companies that are pushing this garbage. Finally, CBDCs will fail. Nigeria is the first country to try them en masse and abolish cash. It had to backtrack and restore coins and banknotes. Many areas of the world have no complete Wifi cover. How will a CBDC work there? By nature, I tend too towards pessimism, but I refuse to fall into the pointless doom-mongering that many on our side of the track have done. It doesn't matter if the majority stay asleep, because it only ever takes a forceful minority to effect change. Davos will fail. Lux ex tenebris - let there be light from darkness!
I'll have to look further at the Nigerian CBDC story. However, it was touted as making life much easier and safer for the poorer members of Nigerian society. On that level, it definitely failed. I expect the same level of resistance to CBDCs as for the Covid death shots: places with a weak and softened population like Australia, NZ and Germany will roll over for CBDCs, while places like the Red states of the US will oppose it. Also, there has to be international agreement on what form a global CBDC will take and on the various laws involved. That won't happen, if ever, until well into the 2030s. Who knows what the economic or political situation will be then? In addition, it is the Bank of International Settlements (BIS) that is coordinating efforts, another of those creepy globalist quangos. Russia and China certainly won't follow their orders, and the US Fed Reserve and Mega banks will worry about their CBDC affecting the dollar's hegemony and their power. And we haven't even mentioned the popular rebellion that will almost certainly rise up against such a centralising, anti-liberty concept and hopefully lead to the development of more human-scale alternatives. Finally, what will a CBDC really mean anyway? Just more government fiat currency and inflation in 1s and 0s. That's why I think that the chances of imposing it on a big enough scale to turn society into 1984 are therefore zero. Finance isn't my top subject, Ashowa, so please feel free to challenge me on this. Have a good day, my friend!
I believe Luongo is addressing these issues with his references to Davos, to "insane" developments, etc. Those are memes that his regular readers will recognize as including your points.
If that doesn't say it all. Like many I find it a little bit difficult to de-code Luongo (who sure uses a lot of hyperbole for a finance guy...), but --
The likes of Victoria Nuland doesn't visit little ol' Niger...personally...if it isn't critical to holding the NATO/EU/France/WEF/US/Neocon alliance together.
With them its always: "Watch what I do, not what I say..."
And, as if more proof were needed, the fact that Nuland jetted off to Niamey shows Zhou has no agency, no capacity to call the shots. Nobody home. The inmates are running the asylum.
Glenn Greenwald reinforces this point at extreme length. Regardless of whether the US is somehow justified in its approach to and conduct of foreign policy, Greenwald posits, the ROW (rest of the world) increasingly is not buying it. We just don't see this...yet.
Couldn’t agree more. Macron (un bon petit soldat - a good little soldier) is following the Davos playbook, “destroy France,” and Zhou is reading from the same page.
But the structural reason behind that parade of corruption has been the rapacious neo-colonial relationship with their European masters.
If Niger can really, truly drive France out, then they have a fighting chance to break the cycle of history.
It's uncommon, but at least possible, that the Niger military is working for the people. If they are coordinating with Putin then there's an even better chance. It's at least a better chance than they have had under France's thumb.
Ukraine Sea drones attacking Russia in Black Sea may have been launched from a mothership…
https://cdrsalamander.substack.com/p/pirates-of-the-black-sea
https://www.nytimes.com/2023/08/03/us/feinstein-husband-estate-family-fortune.html
Talk about an heroic struggle--fighting for your late husbands big bucks when you don't even know your own name anymore!
These people are ultimately their own punishment.
Things can always get worse:
https://www.foxnews.com/us/pennsylvania-driver-hospitalized-crashing-car-second-floor-home
Perhaps he had LOFTy ambitions. I'll see myself out.
Mark,
To chime in here. Yes, France's entire domestic pricing system is based on the support it gets from extracting the wealth of N. Africa to fund its ridiculous welfare state. Putin, of course, had a hand in N. Africa, Wagner has been there for a long time prepping the ground there. Putin and Lavrov have been on the 'charm tour' with Africa, esp. pivotal Mediterranean states like Algeria, Egypt and Morocco.
So, Niger blowing up like it did shouldn't really surprise us as the signs were all there. This is an area of my knowledge that is thin, so I'm learning in real time like many, while trying to pick at threads that make sense.
Look at the price action in the bond markets since Friday's jobs report... no real news and yet the US yield curve, again, moves down 20+ basis points to keep Euro-zone bond yields from breaching Lagarde's red lines.
France is the weak link in the EU tripod because of N. Africa. Macron made moves against Meloni in Italy, she responded by making sure the world knew about the CFA Franc. Germany is beholden to the Neocon Greens for now. Nuland wants France to stay afloat by trying to salvage Niger and have Macron back into the Rah Rah Ukraine fold.
Meloni has already told everyone she's on board with Team USA, because that's the best path for Italy in the end. Not a WEFfer, just playing a dangerous game as the gal in the middle everyone is fighting over. IT's all about Europe. And it always goes back to the Crown's obsession with getting collateral for its financial empire.
Thanks, Tom. Since you're here, two things:
1. Re "Putschist" I remark below that it sounds weirdly like communist style rhetoric.
2. Any brief comment would be appreciated re: A. Mercouris' statement yesterday about the scope of US Treasury borrowing to come (I extract it in the post)--$1 trillion or more. In comments below I recall that Powell stated not long ago to Congress that he did NOT feel obligated to monetize all government spending and I also reference your views on Yellen's hat-in-hand trip to Beijing.
Isn't it more like $1.5T+ in borrowing to come in Q3 and 4?
1. Nuland et.al. are simply going hysterical with all of their rhetoric at this point. Everything is a 'putsch' or 'far-right nazi' or 'insurrection.' The hysterics are a mark of desperation and exasperation, IMO. this is a good thing.
2. Yes, Yellen is planning on $1.7+ trillion in borrowing between now and the end of 2023. Insane. Powell is not helping them out. I have made the point in previous articles that there is some new mysterious buyer coming in to keep the US Yield Curve from rising. It's not 'the market.' That's bullshit. The Treasury International Capital report (three months in arrears) provides the gross evidence. The Euro-zone is buying like mad to keep the ECB from going bankrupt.
Powell, knows this and has been blunt in saying, "This is all your problem, not ours. We are doing what needs to be done. Fend for yourselves." Davos and their minions are like a badly-behaved dog that refuses to submit. Everything you're seeing now is simply them squirming to get out from underneath the big hand on their chest. Once you see it that way, it all becomes very obviously clear.
"Biden" won't submit here. They will keep things locked up on The Hill to prevent spending reforms. So they can continue to push towards a breaking point while the Brits run more psy-ops on the American people that "national divorce" is the only way. This is 1858 all over again.
Great, Tx a bunch. I don't follow the financial markets so it's great to get backup like this when commenters claim that Powell is somehow working hand in glove with Yellen.
He isn't... there's a war going on between the Treasury and the Fed... specifically the SF Fed vs. the NY Fed.
Nuland, in her statement following her whirlwind Niger trip, refers repeatedly to "Putschist" leaders. Luongo asks, 'Who really speaks like that?' It sounds weirdly like communist style rhetoric to me. Normal people these days use 'coup'.
It rather dates her, doesn't it?
Putsch is an obvious reference to Nazi Germany in the early years of their rise. The beer hall putsch.....Everything they dislike, disagree with and hate is either called Nazi or white supremacist.
Nazis and White supremacists in Niger--what next!
You wrote: "Luongo asks, 'Who really speaks like that?' It sounds weirdly like communist style rhetoric to me."
My sense of why they use such rhetoric and not communist, but allusions to whom they hate most.
Eventually, Europe is going to have to break with the neocon loons and go grovelling back to Russia. The problem is that none of the current leaders will do that. They are all compromised and weak. As for Niger, I don't often disagree with the Duran boys, but I think they are wrong when they said that Russia had nothing to do with the coup. If you're Putin, and you're seeing daily attacks on your country by the neocons, you will be definitely be thinking of creative ways to retaliate. The Western powers are completely overstretched, with bases all over the world. I'm sure the Moscow leadership is fully aware of this and won't be able to refrain from spreading the pain. Meanwhile, the days are already getting colder here in Europe, so I'm off to cut some firewood. I might need it.
BASF's Ludwigshafen chemicals site is the largest in the EU (could be world's largest chem production site) covers square miles. While true BASF is closing energy-intensive production lines at Ludwigshafen (crushed by the flip on energy costs due to the Ukraine war tragedy), the site is not globally shutdown. I do think that unless energy costs for industry return (this is Steghorn21's point about EU reconnecting economically with Russia) to pre-war levels, Ludwigshafen chems will be no more. BASF is probably the EUs biggest loser from the Ukraine fiasco
Hi Ashowa - BASF has seven plus 'mega'-sites (Verbund sites) all over the world. They specialize in competing at scale for particularly unique/lucrative/intense chemicals needs in a given area. https://www.basf.com/global/en/investors/basf-at-a-glance/verbund/sites-worldwide.html Their first China site got a go-ahead in 2020. The US hosts a Verbund in the South East. While I think we agree on the awfulness (& utter foolishness) of WEF-driven globalist plans, evidence like reduction of steel-production in Germany doesn't correlate to a controlling demand signal for the Ludwigshafen chemicals site. It is only a small piece. The Ludwigshafen Verbund was the first Verbund site and is over 150 years in development: they make chems for everything at that site (or used to ...). The reset plans have evidence of existing (such hubris!), but the evidence for success of said plans is wanting, and the evidence for rejection of reset plans by many cultures and countries (Kenya just told the cryptocoin outfit that wants your retina scan as 'proof' of your identity to bugger-off) is plainly in view.
This link is from a Meaning-in-History commenter on a later posting by Mr Wauck, and is a description of how very effective the Canadian Trucker protest was at shifting Canadian politics and getting excellent results - despite the media impression of utter failure. https://twitter.com/FromKulak/status/1688728579524210688
The pushback is real, the gas-lighting by the gov't-media complex very energetic. Caveat emptor!
MKB has an incisive take on Niger, and it fits in w Mark’s post on TL’s views. Seems Nuland’s shrieking…our version of diplomacy…came to nought:
https://www.indianpunchline.com/niger-rejects-rules-based-order/
I think France is in for a rude awakening, à la US in Ukraine.
I don’t know if this true but it is too delicious not to share! https://twitter.com/jacksonhinklle/status/1688718553174745088?s=46
Too funny!
They are only thinking of poor Vicky's health as she faces more and more defeats.
Inflation indicators:
UPS handshake pay raise for drivers is from $38 an hour to $49 an hour.
https://www.cbsnews.com/news/ups-teamsters-contract-unions-agreement-part-time-pay-debate/
Big 3 Autoworkers are looking for a 40% pay increase:
https://www.washingtonpost.com/business/2023/08/04/uaw-double-digit-pay-increase/
Wow. My head hurts. Lots to take in and ruminate on. Thanks
Very important stuff. Thanks. The Fed is "actively defending Wall St. and leaving the Biden Administration out to hang, not helping it achieve its goals, destroy the United States." They will not "dump all of this on Trump" as the worst is coming before the election, and if it doesn't Trump will make sure to lose the election. Biden, or Michelle, will be the new Herbert Hoover. Trump will then rebuild, if we want him.
In testimony to Congress this year Powell stated that he didn't feel obliged to help the government monetize its debt.
A trillion! In a quarter!! That raised an eyebrow. How does that square with "didn't feel obliged"? Like Venezuela?
FWIW, I'm pretty sure the failures of Silicon Valley Bank, Signature Bank, and First Republic Bank last Spring did result in a definitional 'panic'. My son's firm spent a sleepless week trying to move substantial 'uninsured' deposits out of these banks to safety. Whether the conditions leading to this week's ratings downgrades and 'watch' and subsequent selloff eventually results in a 'run' on some banks' deposits we'll just have to see, but -- semantics aside -- it is not good news for the banks and their stockholders or for their customers and consumers.
"A banking panic or bank panic is a financial crisis that occurs when *many* banks suffer runs at the same time,"
Two banks are not many banks. I wouldn't even call two 'some'. I'd call them two. Follow the link and check out the market reactions as compared.
The SVB, Signature, etc banking situation has a bigger profile than it should because the media puffed the scary-narrative engine up. That was to cover the fact that the Gov't response was an un-warranted bail-out of the depositors. Had things progressed the way they should have, the big-bucks depositors would likely have gotten 70-85% of their monies back and the event is would have reinforced Da Rules. Instead, the Gov't has implied coverage of *all* bank deposits, no matter the size. This isn't sustainable - no way shape or form - so the salient outcome is a two-tier banking system: big enough and connected to the 'right' politicians, you are golden, otherwise, tough-nuggies
I believe we agree on this. But when you say 'government' aren't we basically talking Treasury Department? Luongo's point of interest is that Powell at the Fed is taking steps that put extreme pressure on banks to get their houses in order--not because he runs the banks but because he believes those steps are necessary for the integrity of the dollar. Treasury is largely in control of bailouts, in my understanding. The Fed's "discount window" facility, as Luongo and DDB describe what's going on, is very far from a bailout--it's a very expensive way to try to stave off failure, not a freebie.
Hi Mr Wauck - we do agree; I hesitated on making the clarifying comment 'Treasury' or 'Federal Reserve' (shame on me, I generally go find out myself and am familiar with Luongo's Treasury/Fed thesis), as the deposits are covered by the FDIC (Federal Deposit etc), and "Fed" in a name under Treasury authority gave me pause. I appreciate your time & energy with what you share and elevate through MiH - a gem
Thanks. This is all pretty murky, but crucially important.
A bank failure isn't a "bank panic". Four bank failures in four months isn't a "bank panic". But Luongo never said there wouldn't be bank failures in our future--quite the contrary. He knows there will be because, get ready for this, there have been bank failures in the past--including in the last four months. Luongo knows all that. But he also knows what a "bank panic" and is not. I criticize Luongo's libertarianism, but I don't do it by inventing my own definitions. I take his predictions for what they're worth to me and compare them to his track record--which happens to be pretty good in the macro scheme.
A banking crisis isn't a "bank panic". Luongo specifically used the term "bank panic" for a specific type of event. Until there's a "bank panic" as defined you need to stop impugning Luongo's predictions based on eccentric definitions. We'll find out soon enough whether he's right or wrong, but nothing you've said shows that he's wrong NOW.
I looked at that article and it doesn't justify your claim that the market is signalling a bank panic to come. Your characterization is also inaccurate.
Bobby A: "a broad selloff" implying "the market" got hammered.
ZH: "Bank Stocks Slide", **S&P Regional Bank Index down around 3%** in the early market
ZH also states: "but in context" and then presents a chart that compares the S&P Regional Bank Index after SVB and today--not remotely similar, and SVB didn't lead to a bank panic.
I beg to differ. That's not a bank panic.
https://en.wikipedia.org/wiki/Bank_run
A banking panic or bank panic is a financial crisis that occurs when many banks suffer runs at the same time, as people suddenly try to convert their threatened deposits into cash or try to get out of their domestic banking system altogether.
From the context of TL's remarks it's quite clear that his use of the term "bank panic" mirrors the definition that most of us have, which is as Wikipedia puts it.
You write of the "totalitarian end game". But is it? Really?
I don't see references to James Corbett in MIH (he maybe too voluntarist) but IMHO he bats for the same team.
See this interview with a lady from Israel.
https://www.corbettreport.com/interview-1825-james-corbett-on-youre-the-voice/
Towards the end (34:00) he talks of an anti-human system and eugenics, which vies for being the "end game" and is coming out more likely. Certainly for those of us with spiritual lenses, I don't think the 'creation' of a novel social environment is the objective behind the manipulation. Changes are being wrought by destruction. Ultimately anti-human - which is what I see in so much of current events - is anti-God as humans bear the divine image.
As it is written:
“For your sake we face death all day long;
we are considered as sheep to be slaughtered.”
No, in all these things we are more than conquerors
I don't agree that the WEF is increasing it's control, Ashowa. It's TRYING to increase it's control but is often failing. The awful Bud Light campaign, debanking of alternative voices and Big Tech censoring have all, to varying degrees, met massive opposition and failure. 30% of people also stood strong against the Vaxx putsch and saw off the lockdowns. Certainly, there's no room for complacency in the fight against evil, but we are winning many battles.
More than a wish Ashowa - we can look at 'debanking' in the UK for but one example: it has been happening and is quite evil; and then was done to Nigel Farage, who knows a thing or two about media use. The result of his escalations are the firing of the chairpersons at NatWest and Coutts banks ( https://www.telegraph.co.uk/news/2023/07/31/nigel-farage-all-banks-guilty-debanking-fca-coutts-account/ ). Pushback is just getting going and appears energetic across a whole host of woke fronts.
I get your anger and concern, Ashowa, I really do. However, this war has only just begun. It's going to be a long one and I don't think we should be falling into total despair quite yet. I'm sorry, but there ARE a lot of good things happening now. Take the broader picture: the Davos dream of one-world control died the day the BRICS came together. Of course, that doesn't mean that those BRICS nations will all be friendly to democracy - China, anyone? - but it does mean that there is now no chance that the WEF will triumph over the globe. Now let's look at the component issues: for the Vaxx, I don't believe most of the sheep have quite woken up yet, but as noted today on Zerohedge, take up of the anti-Covid vaxxes is in the basement and Moderna and Pfizer share prices are being murdered. As for the trans madness, the fight back there is probably the brightest sign of hope of all. It's not just freedom activists fighting back, but ordinary people too. They are simply refusing to buy products from companies that are pushing this garbage. Finally, CBDCs will fail. Nigeria is the first country to try them en masse and abolish cash. It had to backtrack and restore coins and banknotes. Many areas of the world have no complete Wifi cover. How will a CBDC work there? By nature, I tend too towards pessimism, but I refuse to fall into the pointless doom-mongering that many on our side of the track have done. It doesn't matter if the majority stay asleep, because it only ever takes a forceful minority to effect change. Davos will fail. Lux ex tenebris - let there be light from darkness!
Lux ex tenebris. One of my favourite maxims. And a deep truth.
And a great hope
I'll have to look further at the Nigerian CBDC story. However, it was touted as making life much easier and safer for the poorer members of Nigerian society. On that level, it definitely failed. I expect the same level of resistance to CBDCs as for the Covid death shots: places with a weak and softened population like Australia, NZ and Germany will roll over for CBDCs, while places like the Red states of the US will oppose it. Also, there has to be international agreement on what form a global CBDC will take and on the various laws involved. That won't happen, if ever, until well into the 2030s. Who knows what the economic or political situation will be then? In addition, it is the Bank of International Settlements (BIS) that is coordinating efforts, another of those creepy globalist quangos. Russia and China certainly won't follow their orders, and the US Fed Reserve and Mega banks will worry about their CBDC affecting the dollar's hegemony and their power. And we haven't even mentioned the popular rebellion that will almost certainly rise up against such a centralising, anti-liberty concept and hopefully lead to the development of more human-scale alternatives. Finally, what will a CBDC really mean anyway? Just more government fiat currency and inflation in 1s and 0s. That's why I think that the chances of imposing it on a big enough scale to turn society into 1984 are therefore zero. Finance isn't my top subject, Ashowa, so please feel free to challenge me on this. Have a good day, my friend!
I believe Luongo is addressing these issues with his references to Davos, to "insane" developments, etc. Those are memes that his regular readers will recognize as including your points.
Even if it happens, a GOP POTUS won't be allowed to change anything anyway. The solutions aren't to be found in DC.
@Mitch
Let alone a MAGA Republican...
That's not me, that's Alexander Mercouris.
I like "frank and difficult". I wonder what "Get lost!" is in Hausa?
I like “disposed (of)” instead of deposed!
"Nuland just visited Niger."
If that doesn't say it all. Like many I find it a little bit difficult to de-code Luongo (who sure uses a lot of hyperbole for a finance guy...), but --
The likes of Victoria Nuland doesn't visit little ol' Niger...personally...if it isn't critical to holding the NATO/EU/France/WEF/US/Neocon alliance together.
With them its always: "Watch what I do, not what I say..."
Precisely. It tells you how big this is.
And, as if more proof were needed, the fact that Nuland jetted off to Niamey shows Zhou has no agency, no capacity to call the shots. Nobody home. The inmates are running the asylum.
@ML
"...no agency, no capacity...Nobody home."
Glenn Greenwald reinforces this point at extreme length. Regardless of whether the US is somehow justified in its approach to and conduct of foreign policy, Greenwald posits, the ROW (rest of the world) increasingly is not buying it. We just don't see this...yet.
https://rumble.com/v35ikjm-system-update-show-125.html
"at extreme length"
default mode for GG, although I suppose I shouldn't risk breaking my windows.
Very good point
Sounds like an alien arrived on planet Earth: Take me to your leader! Reply: Pound sand.
Agreed. They took a "high" moral stand by refusing to accept Russian yellowcake. Then they try to cheat Niger out of theirs.
Couldn’t agree more. Macron (un bon petit soldat - a good little soldier) is following the Davos playbook, “destroy France,” and Zhou is reading from the same page.
But the structural reason behind that parade of corruption has been the rapacious neo-colonial relationship with their European masters.
If Niger can really, truly drive France out, then they have a fighting chance to break the cycle of history.
It's uncommon, but at least possible, that the Niger military is working for the people. If they are coordinating with Putin then there's an even better chance. It's at least a better chance than they have had under France's thumb.
Sounds strangely familiar, except we do it through elections.
Otherwise known as "[s]elections"...
Watch out or you’ll have Jack on your tail!
I am hoping that by the time Jack gets to me we are all in merde profonde.
!!