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Could it be that Powell has some knowledge and training in economics? The real thing? I assume he is of an age and has the means to retire. Maybe he is a person of integrity, and is willing to bear the blame for precipitating a crisis. As mentioned, Europe is past hope. Biden and Congress are in the business of forgiving loans and spending dollars with no end in sight. The Federal Reserve has somehow to monetize all this. There is much at stake. It is not only a question of fighting inflation, but rising interest rates may cause interest on the debt to crowd out discretionary spending. There could be hardships. There could be a crash. But it might just be what is necessary to save the dollar and the world economic system.

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And China may be getting some of the benefits of being a reserve currency:

https://www.zerohedge.com/markets/end-nearing-world-slowlyopenly-turning-away-usdollar

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The Saudis letting the Chinese pay for their oil in yuans was a massive story that hardly caused a ripple in the MSM. Bear in mind that China is the world's largest importer of oil. The world's centre of gravity is shifting eastwards.

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The EU was supposed to dampen the European propensity for killing one another. That seems to have worked reasonably well. Unfortunately, nobody had a plan for keeping them from mass suicide.

After decades of having European 'superiority' rammed down America's throat, I'm having great difficulty in dredging up any sympathy for what they are doing to themselves. I'll allow as it's not a good thing for the US that the EU is circling the drain, but there is more than a modicum of satisfaction in observing the all-too-predictable endpoint of EU's anti-democratic, fascist joke of a governance scheme. Some wag said that the only thing pols in Brussels had in common is that they had all been thrown out of elected office in their home countries.

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The canard about the EU stopping Europeans killing each other was always just that. There was never any way the French and Germans were going to replay WW1 and 2. And the EU completely failed to stop the only major European war on its territories: the break up of Yugoslavia. As for the future, any break up of the EU will be a positive albeit painful step. Bring it on!

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Maybe we are dealing with a conspiracy that is unimaginably evil. They seem to be very open in the last few years of their intentions! https://emeralddb3.substack.com/p/yuval-hariri-tells-you-what-the-vaccines

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Another view: https://www.lifesitenews.com/news/naomi-wolf-covid-vax-is-a-bioweapon-aimed-at-reproduction-of-the-next-generation-of-the-west/

Just as our national security and defense leaders are really stupid, so too are the political people behind all this.

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And they are targeting the West , especially North America! For Wolf, the evidence uncovered in the Pfizer documents by the War Room and her Daily Clout team has caused her to believe that Pfizer, the FDA, and members of the World Economic Forum (WEF) “are targeting the miraculous female body, with its ability to conceive, gestate, birth and nurture life.”

“They are targeting the human fetus’ very environment, one of the most sacred spaces on this earth, if not the most sacred,” she said. “And they know it.” (Many would call this Evil)

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In Europe, the key thing to watch is what happens in Africa and the Middle East as the food situation worsens. We could easily see 50 million refugees attempting to cross the Med or the Syrian/Turkish route into Europe next year, and I might be underestimating the problem.

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And ammonia plants (fertilizer) are being impacted in Europe due to higher energy costs.

Plus the Russian sanctions on fertilizer.

And the requirement to cut nitrogen usage in farming by the Eu, for climate change!

And not re-opening coal mines in Poland.

Still Very anti nuclear in Germany.

With this mindset:

Never let a crises go to waste- Rahm Emmanuel

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No power/gas, no smelting:

https://seekingalpha.com/news/3874091-aluminum-gains-as-another-european-smelter-shuts-down

"European smelters are estimated to have cut 800K-900K metric tons/year of aluminum production since energy prices began to rise last year, and analysts say another 750K tons could be cut this coming winter."

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Out of the frying pan into the fire? Flee starvation and end up freezing?

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Worse: flee starvation and end up eating British cuisine!

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I wonder how the Euro "elites" would play that one? They hate us and want us replaced, but even they are not stupid enough to ignore the fact that such a level of immigration would push even the most pliant Europeans over the edge.

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Aug 28, 2022·edited Aug 28, 2022

Great summary as usual, Mark. Yes, it is looking rather grim here in Europe. You have outlined the key to our leaders' thought patterns: they are ideologues. And ideologues never back down. If reality does not fit their ideas, they attempt to change reality. Usually with catastrophic results. However, Europe is not as uniform as many Americans think. Some countries are seeing sense. Here in tiny Switzerland, they are even talking about building new nuclear power stations to take up the energy slack. But these are mere pinpricks. It's going to be a long and interesting winter. I used to laugh at preppers. No longer!

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Here's what they/we should be doing for power, but no, we've let China leapfrog us. again.

https://www.livescience.com/china-creates-new-thorium-reactor.html

"Chinese government scientists have unveiled plans for a first-of-its-kind, experimental nuclear reactor that does not need water for cooling.

The molten-salt nuclear reactor, which runs on liquid thorium rather than uranium, is expected to be safer than traditional reactors because the molten salt cools and solidifies quickly when exposed to the air, insulating the thorium, so that any potential leak would spill much less radiation into the surrounding environment compared with leaks from traditional reactors.

..."

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None of this is wrong in an economic sense, but the EU ruling class has, thus far, shown the persistence of the cockroach. I'm not sure what they will do in the last extremity. (And I could say the same thing about the Brandon regime here)

I've always suspected that the EU imposed all those sanctions because they thought Ukraine would collapse quickly, and once it did, they could then lift those sanctions quietly. I could be wrong about this, but I don't think they really expected Russia to collapse, i think they expected Ukraine to collapse. But I suppose the question is academic now that they have Vlad right where he wants them

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No, they expected to win. They really are that stupid.

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NATO (i.e., the US) has been preparing for this for something like eight years. The Ukrainian defensive lines are formidable--concrete reinforced bunkers, pre-sighted artillery, the whole nine yards. Russian planning was underestimated. They expected that, if the Russians didn't back off, they'd make a suicidal full frontal assault, rather than methodically breaking the fortifications down.

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No, I think they expected Russia to back down.

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Yep. It's always tempting to see the elites as super clever masterminds of evil (cue satanic background laughter!), but maybe it's as simple as that. They are just that stupid. I work indirectly with a lot of cloud people in the big IGOs and NGOs. They are usually nice folks, but boy, are they out of touch with reality! Apart from the niceness bit, it's the same for these people.

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I'm not claiming that they were super clever, because clearly they aren't. US intelligence expected a quick Russian victory, and there was widespread surprise when that didn't happen. That was one reason why so little military aid was forthcoming from Europe. I think they went along with Washington's economic war because they thought that Washington would see it was pointless after the Russian army rolled into Kiev.

We don't need to get the sharpened screwdrivers out over this, because whatever they thought was going to happen pretty clearly didn't. The question of expectations will have to wait for an honest history, and that isn't coming anytime soon.

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I have to admit that I still suffer from a naive, childish belief that I can never quite kick: that those in charge of us must have some kind of smarts. However, when you look at our current crop of leaders, that is clearly not the case. As Martin Armstrong is fond of saying, this is the worst bunch of leaders in modern history. Exhibit Number one from recent weeks: that bimbo who claims to be in charge in Finland. No wonder Putin is laughing at us.

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I just wanted to take a moment to thank you for your persistent and diligent compilation, day in and day out. I subscribe to too many substacks, but this is one I consistently read, because it saves me having to go through zerohedge, conservative treehouse, and so many other sources. Including Luongo's blog, although I still don't see what you find so believable about that grifter.

Anyway, sincere appreciation for your efforts here. Keep up the good fight!

And, more on topic, here's a link from Malone:

https://www.msn.com/en-ca/money/topstories/in-poland-where-coal-is-king-homeowners-queue-for-days-to-buy-fuel/ar-AA11abLQ

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The reason Poles have to queue for coal is because they followed EU demands and shut down their own coal industry for the most part. Imported it from Russia.

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I’m surprised Poland has kept their coal mines closed.

Covid was used as an excuse to close them early.

EU has done type of carbon tax /offset that makes mining coal uneconomical.

EU has a carbon neutral by 2050 goal.

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Why do you say Luongo is a grifter?

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Because he's so obnoxiously self-promoting, and keeps pushing ill-founded notions like the "gold-pegged Ruble".

https://edwardslavsquat.substack.com/p/the-gold-pegged-ruble-system-failure

I've been reading up on the Fed since Ed Griffin's book, and while I don't think there's complete overlap of its ownership with the WEF (or various related globalist orgs), and it is certainly a complicated situation and not so monolithic as the standard Conspiracy Theorist caricature would have, I don't really think the banker class is as divided as he's making it out to be.

I'd love to see Luongo really take on the question of who owns Blackrock/Vanguard and what their intentions are.

He's an interesting voice for sure, I just appreciate you filtering him for us.

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1. Obnoxious is in the eye of the beholder.

2. Self-promoting ain't necessarily grifting.

Grifter Definition & Meaning - Merriam-Webster

A grifter might be a pickpocket, a crooked gambler, scammer, or a confidence man.

I give my thoughts away for free--for what they're worth. I've never tried to sell them. But I don't begrudge people like Luongo trying to make a living by selling some of their thoughts (he gives plenty away for free). The Duran also self promotes relentlessly. I'm willing to live and let live without calling others con men.

3. Speaking of self promotion ...

I've never been impressed by edwardslavsquat. I tried reading him and found the exercise unrewarding, as opposed to getting some stimulating ideas from Luongo in murky times on murky subjects. Yes, Luongo spoke loosely about a peg, although his initial reaction was correct about a floor. That was months ago 3/28 - 4/2 and Luongo has moved on, but edwardslavsquat is still hanging on to that to promote himself and denigrate Luongo, never giving Luongo credit for being right about anything. It's an old story, so why can't edwardslavsquat let go of it? Again, the obvious explanation is self promotion.

4. Luongo has been, or appears to me, to be right about some things. That's good enough for me.

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Oh, I knew what the word meant when I used it: I believe Luongo to be creating and promoting a narrative that he knows to be false, and to be doing so primarily for his personal gain. I understand you disagree, and indeed, along the way he may well get some things right, and that may be good enough, even for me. As to his central claim that the Fed will save us from Davos (and his peripheral claim that Putin's Russia is also anti-Davos), I suppose we shall see. It strikes me as "hopium", and that's strong stuff. On the other hand, I'm no big fan of hopelessness either, but I would be hard-pressed to briefly articulate my reasons for optimism. I'm just sitting here in the peanut gallery trying to make sense of it all.

Riley Waggaman, the guy who writes "Edward Slavsquat", is probably someone who strikes you as unprofessional or unserious just by his writing style. He doesn't claim much in the way of credentials either, aside from a brief stint in Russia's state-funded propaganda organ (foreign-facing division). He's not semi-retired from public service or finance or anything else lucrative, so I don't begrudge him asking for subscriptions. He doesn't paywall any substack content, as far as I know.

I find his work useful in checking the claims of Western alternative media regarding Russia, especially Covid policy and other Davos agenda items. I find him to be a credible secondary source on these topics because he directly cites Russian officials and translated Russian media.

Luongo on the other hand, I find dubious because so much of his story relies on his supposed anonymous insider connections within the banking sector. I don't trust these people at all. When he gets things significantly wrong (the gold-pegged ruble being just one handy and easily verified example) he doesn't own up to it: that strikes me as scammy.

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When will you stop talking about political decisions and actually talk about the international mafia pulling the strings from Washington DC, the City of London and the Vatican? The crisis is created deliberately, not due to incompetence but due to a drive for DEPOPULATION. We are being pressured from all sides to provoke riots and hatred for our governments who are dutifully obeying their overlords.

Then there will be martial law.

Then the unipolar world is complete and under the combined control of the UN and the WEF.

What is the real solution?

JAIL THE BLACK NOBILITY.

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I don't question that's the intent, but it doesn't seem to me much of anything goes as they compute. Instead, they wind up pulling their pants down again, again, again while we plebes laugh at the clown show.

It's beyond my resources, power or ability to "JAIL THE BLACK NOBILITY." I do file FOIAs & ask tough questions on my local & state levels. I hope everyone has become more inspired to research & get involved w/the governing & decision making that goes on around them. My feeling is that if we start cleaning house locally, regionally, nationally & so on, eventually that mysterious "BLACK NOBILITY" will be drained of resources, power or ability to do anything other than be the myopic clowns that they are. If they go to jail, great, but I'd be just as happy to see them bereft of any resources, power & ability to continue harming everyday citizens.

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It would take a millennium to drain the Nobs of their resources. They count their wealth in the multi trillions, banked at BIS in Switzerland and in ownership of all the prime land and utilities. The only way humanity can throw off the hierarchical, heretical old aristocracy is to actively confiscate their holdings worldwide and return control to the nations they have robbed and colonised.

You nor I, personally, can have little impact locally or regionally. We cannot survive without using the facilities the Nobs own or control via the UN and WEF. They own most good water sources, all the energy producers and every industry.

When I say jail them, I mean we need a judiciary system which will introduce a new set of laws, like the crime of ECOCIDE (suggested by Polly Higgins) - then we can bust them for damaging the planet and all life upon it.

I doubt I will live to see that implemented but that seems to be the only way to bring these exploiters and enslavers to justice.

https://francesleader.substack.com/p/solving-the-global-crisis

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Great writeup Mark!

It truly is amazing how oblivious EU politicians are. They learned 0 from the Sri Lankan meltdown. Hold on for a wild ride. Everyone is currently keying in on Sept but this doesnt stop there. It will continue to get crazy as we near year-end.

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Yep. You no longer feel crazy if you get in a few extra cans of food, some more firewood and some essential meds.

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Aug 28, 2022·edited Aug 28, 2022

The gears are already in motion and it is hard to see how the economy of Europe does not collapse. What I do not and never have understood is why German and other European businesses have gone along with the EU and WEF dictates to their own detriment. They have to know that in doing so they are committing economic suicide absent leaving the continent. What force is so compelling as to make CEOs destroy their own companies? Or is it mass delusion or mass formation among the elites of Europe?

So the European elite are willing to war against Russia, China, and India? OK, take this: https://twitter.com/matthew_pines/status/1563526810154897414?cxt=HHwWjMCowbLW4bIrAAAA

And finally, on a brighter note about where the Fed stands against the WEF tryants and their ideal of control of currency:

https://twitter.com/NikoJilch/status/1563446734184779779

+1 for Luongo.

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Maybe it is mass hypnosis, or at best, complete cynicism. The CEOs I've rubbed shoulders with have seemed very hardboiled types who would sell their grannies if it helped the bottom line. Maybe they are just going along with the Woke crap because it's the latest in thing. Maybe they watch TV too and have been Desmet-ised like the general population. It's hard to tell these days what is real and what is not. As for the Feds standing up to the WEF, this is a big thing with Luongo. It does make sense. The Fed is run be the East coast banks, none of whose top dogs want to be playing second fiddle to a central globalist bank. However, Tom also believes in Bitcoin and that Janet Yellen will replace Biden, so who knows?

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The plot thickens, as always! These corporations make big money with ESG, Environmental, Social and Governance movement, which is now in every company in the form of another layer of “ compliance” to EU/WEF rules and regs. The young are taught this in all the business schools - it puts the company’s management (governance) under the microscope to see if it is “ sustainable “, and all the orher “—ables…” Banks are enforcers too when a company wants a loan to grow and develop. Lawyers are also trained in this green ideology and bill accordingly. So while companies are signing their death warrants, as you say, ESG has become big business- here in France and the US. To think I used to automatically turn off a light when leaving a room - as my parents taught me - now there’s an army of highly credentialed clerics taking charge of the electricity supply!

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Yep.

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P.S. Great links! Thanks for providing some sensible new ppl to follow on the blue bird!

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And NATO's seemingly mindless plan. I'm a pretty basic person. Everytime I read abt what Europe/UK is doing, I ask, are they really that stupid or clueless?! I wondered for awhile if there was some masterful whammy they were using all this insanity to reach, but no, it seems like their elites are utterly clueless & won't step far enough out of their tiny mental boxes or foo foo cliques to see?

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Aug 28, 2022·edited Aug 28, 2022

Exactly my position, CC, and I suspect that of most of us plebs. However, as history shows us, it's incredible how stupid supposedly intelligent and cunning leaders can be. Take one example: Iraq. Rumsfield, Cheney and co. might be malignant sociopaths, but these guys are sharp. Same with - at least at the time - most of the army top brass. Yet, what happened? They went in with no clear strategy, no exit strategy, no idea of what success should look like and no knowledge or understanding of Iraq's complex culture and history. This was a mere 30 years after the Vietnam debacle which should have taught them everything they needed to know about the risks of their crazy venture. This one example can be multiplied across the board, and today's leaders make the top people back then look like Talleyrand and Metternich! So, you are correct: The "elites" are clueless fools. The only question now is how many of us will be destroyed as their plans fall apart.

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cc, it truly is mind boggling (for a peon like me anyway). I used to think that whenever something didn't make sense it meant money is involved. Now, I think that's probably true to an extent but I am beginning to think that Luongo is right about the old European aristocracy: there is a special kind of conceit and stupid and lust for power there.

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