Substack appears to have gone off the rails. Tried to post this as a reply to @Tamsin but no luck. Let's see if a new post makes it through:
Tom Luongo is representative of a trend that started shortly after the markets opened up to individual investors via the discount brokers circa 1995. Those stripped down low-cost services that offered no investment advice, just trade execution, were quickly followed by a raft of investment newsletters offering advice to fill that gap. Prior to this, most of those services were costly and offered primarily to professional traders. I know, I subscribed to a few and they were generally first rate. Not so of the flood that followed however, who similar to the brokerages, offered their "expertise" at a fraction of the cost of the more professional services, and as you'd expect, you got what you paid for.
At the beginning you placed your trades by phone and it was often a challenge just getting through, especially when the markets were moving. Hats off to Waterhouse Securities in Seattle BTW. I was one of their first Canadian clients in 1998 and I never missed a trade - they always picked up right away, and they always got me the best price.
Then along came the internet and the discount trading biz went completely mad and started to actually drive the markets, especially the small caps and tech. I remember Maria Bartiromo, the original 'money honey' being jostled on the floor of the NY exchange while Jim Cramer ranted from his perch at CNBC. Oh, and the TV ads! I wish I'd recorded some of those, they were just priceless.
But I digress. The point is, Guys like Luongo now number in the thousands and they all, like Mr Krabs, have a secret formula to make them,... er you.... MONEY!
Don't take 'em too seriously is my advice. I would also note that one of the best advisors back then offered his insights completely free simply because he was alarmed at where things were going. Talking about Doug Noland's Credit Bubble Bulletin. Doug worked for the Prudent Bear Fund, and like all bears was early - his only fault really, since he completely nailed what would eventually happen in 2008, which is when I pulled the plug.
Those were amazing times. I don't know if anyone's written a book about it yet, but they should. Often you only see these things in hindsight, but fortunately for us, we already knew a thing or two going in, so we came out the other end in one piece and much better off. Not so for many others who were lured by the siren song of CNBC and popular "market mavens" whose numbers were legion, and going by my inbox, still are:)
LJ recently did an interview with TL, who proclaimed that he had no, or not much, sympathy for the Palestinians because they "sided with the Russians" back in the 80s. As if they should've asked America to help them out. Wanna guess what's going on there?
"The real prize is the deindustrialization of Europe and the relocation of European production, technology, profits, and expertise to the US."
Thought experiment:
You're a German engineer, married with two small children who is facing cutbacks at work, rising prices for everything, and a declining social environment with a rising crime rate.
Do you:
Move to the USA, where the social environment is declining, housing costs are through the roof, public schools are LGBTQ indoctrination centres and the crime rate is rising at an alarming rate...or,
Do you move to Russia which has simplified its immigration requirements and welcomes people with skills such as yours?
Assume you have some capital to invest. Which country has the lower housing costs, the fewest obstacles to establishing new businesses and the lower tax rates? Now consider your children. Which country has the most family friendly social policies, the better education system and is most likely to offer your kids a brighter future? On a personal note, which country is more likely to offer the best job satisfaction for someone who likes to build things and then look back and say, I built that?
Russia is building right now. New homes, roads, rail lines, bridges. New industrial centres, transportation routes, the list goes on. In addition they are making major efforts to source all the necessary materials internally, which they have in abundance, including the most vital element, cheap energy. What they lack at the moment is the very thing you have to offer: expertise.
I’m sure the US dollar vs ruble exchange rate is highly susceptible to being manipulated, due to Russia not doing business in dollars as much as possible. Means low liquidity.
I'm glad that you wrote about the economic war of Western elites against their own nations' citizenry, and, against one another in the money wars for supreme power. In particular, the motivations for Great Britain's war-to-the-death of Russia---for material resources---which has caused dire repercussions against regular people who work for a living. The UK tax on farmers has everyone in the island very very angry. BlackRock, the farmers, and everyone else are a part of a broad discussion of all current geopolitical topics on the Crypto Rich podcast. Rich hosted his friends, Alex Krainer and Tom Luongo, in a two part podcast. Here is the first part: https://odysee.com/@cryptorich:e/the-war-within-the-west-uk-vs-eu-vs-usa:2
Exactly what is it that the US produces that is so valuable that other nations want it? We spend 20% of GDP on medical care that has worse outcomes than many countries that spend half that. 20% of our economy is financialization and rent seeking grift that produces no real product. 7% of our GDP is debt.
What will all this look like 10 years from now once most countries finally figure out that the rules based international order means that you tie your economy to the US and then you’d better do what we want or else?
The ruble is backed by gold. It is not a fiat currency. The problem with the United States, trying to supply Europe with LNG is that we don’t have the capacity to do so at this point for the needs of Europe and especially Germany. LNG is expensive, and I have read that we will need at least five years to ramp up the facilities and the capabilities to export in bulk that amount of gas to Europe to supply their needs.
Biden and the CIA on purpose destroyed the Nord stream pipelines and cut Europe off from inexpensive natural gas. The plan was to make Ukraine a vassal state of the west to be able to get to the tremendous amount of natural resources and rare earth minerals that are there. They wanted to build a pipeline directly from Ukraine into Europe, so that western oil interest would control all that, and essentially Europe would be buying oil and natural gas from them instead of the Russians.
Well, so much for that grand plan , the Russians are going to control Ukraine. They are going to control the Russian speaking provinces where all of those minerals and natural resources are and there is it going to be a pipeline to Europe. The pipeline will turn to supply the BRICS countries in Europe it on its own. The United States has to assume total responsibility for the destruction of western Europe, economies, and the fact that they do not have access to cheap oil and gas to run there countries.
I don't know anything about finance but what difference does it make? Russia is basically an autarky - doesnt need to trade with anyone to pump out 6 million artillery shells/yr or have food on the table. This is why I knew sanctions would NEVER work vs Russia.
They are part of BRICS and have pivoted to the east to help form a new trading block. They don’t need the West any longer and they don’t care what happens to the west. We are the ones that need them not the other way around.
I will give that a listen, but dismantling the cartel... only to reconstruct it?
Like the continous churn in Mexican drug cartels; there has not yet been one kinder, gentler cartel leader who comes out on top to the benefit of all the poors forever.
Other than the Bible the US constitution I believe is the most perfect document on man's governance. Why did congress give up the "enumerated" power to coin and print? Its sad how corrupted we were even over 100 yrs ago.
Substack appears to have gone off the rails. Tried to post this as a reply to @Tamsin but no luck. Let's see if a new post makes it through:
Tom Luongo is representative of a trend that started shortly after the markets opened up to individual investors via the discount brokers circa 1995. Those stripped down low-cost services that offered no investment advice, just trade execution, were quickly followed by a raft of investment newsletters offering advice to fill that gap. Prior to this, most of those services were costly and offered primarily to professional traders. I know, I subscribed to a few and they were generally first rate. Not so of the flood that followed however, who similar to the brokerages, offered their "expertise" at a fraction of the cost of the more professional services, and as you'd expect, you got what you paid for.
At the beginning you placed your trades by phone and it was often a challenge just getting through, especially when the markets were moving. Hats off to Waterhouse Securities in Seattle BTW. I was one of their first Canadian clients in 1998 and I never missed a trade - they always picked up right away, and they always got me the best price.
Then along came the internet and the discount trading biz went completely mad and started to actually drive the markets, especially the small caps and tech. I remember Maria Bartiromo, the original 'money honey' being jostled on the floor of the NY exchange while Jim Cramer ranted from his perch at CNBC. Oh, and the TV ads! I wish I'd recorded some of those, they were just priceless.
But I digress. The point is, Guys like Luongo now number in the thousands and they all, like Mr Krabs, have a secret formula to make them,... er you.... MONEY!
Don't take 'em too seriously is my advice. I would also note that one of the best advisors back then offered his insights completely free simply because he was alarmed at where things were going. Talking about Doug Noland's Credit Bubble Bulletin. Doug worked for the Prudent Bear Fund, and like all bears was early - his only fault really, since he completely nailed what would eventually happen in 2008, which is when I pulled the plug.
Those were amazing times. I don't know if anyone's written a book about it yet, but they should. Often you only see these things in hindsight, but fortunately for us, we already knew a thing or two going in, so we came out the other end in one piece and much better off. Not so for many others who were lured by the siren song of CNBC and popular "market mavens" whose numbers were legion, and going by my inbox, still are:)
Thanks for your observations ebear!
LJ recently did an interview with TL, who proclaimed that he had no, or not much, sympathy for the Palestinians because they "sided with the Russians" back in the 80s. As if they should've asked America to help them out. Wanna guess what's going on there?
Yeah, I had trouble with comments today, too.
"The real prize is the deindustrialization of Europe and the relocation of European production, technology, profits, and expertise to the US."
Thought experiment:
You're a German engineer, married with two small children who is facing cutbacks at work, rising prices for everything, and a declining social environment with a rising crime rate.
Do you:
Move to the USA, where the social environment is declining, housing costs are through the roof, public schools are LGBTQ indoctrination centres and the crime rate is rising at an alarming rate...or,
Do you move to Russia which has simplified its immigration requirements and welcomes people with skills such as yours?
Assume you have some capital to invest. Which country has the lower housing costs, the fewest obstacles to establishing new businesses and the lower tax rates? Now consider your children. Which country has the most family friendly social policies, the better education system and is most likely to offer your kids a brighter future? On a personal note, which country is more likely to offer the best job satisfaction for someone who likes to build things and then look back and say, I built that?
Russia is building right now. New homes, roads, rail lines, bridges. New industrial centres, transportation routes, the list goes on. In addition they are making major efforts to source all the necessary materials internally, which they have in abundance, including the most vital element, cheap energy. What they lack at the moment is the very thing you have to offer: expertise.
Tough choice, eh?
I’m sure the US dollar vs ruble exchange rate is highly susceptible to being manipulated, due to Russia not doing business in dollars as much as possible. Means low liquidity.
The European and British madness continues and worsens.
Hello and Happy Thanksgiving,
I'm glad that you wrote about the economic war of Western elites against their own nations' citizenry, and, against one another in the money wars for supreme power. In particular, the motivations for Great Britain's war-to-the-death of Russia---for material resources---which has caused dire repercussions against regular people who work for a living. The UK tax on farmers has everyone in the island very very angry. BlackRock, the farmers, and everyone else are a part of a broad discussion of all current geopolitical topics on the Crypto Rich podcast. Rich hosted his friends, Alex Krainer and Tom Luongo, in a two part podcast. Here is the first part: https://odysee.com/@cryptorich:e/the-war-within-the-west-uk-vs-eu-vs-usa:2
Exactly what is it that the US produces that is so valuable that other nations want it? We spend 20% of GDP on medical care that has worse outcomes than many countries that spend half that. 20% of our economy is financialization and rent seeking grift that produces no real product. 7% of our GDP is debt.
What will all this look like 10 years from now once most countries finally figure out that the rules based international order means that you tie your economy to the US and then you’d better do what we want or else?
The ruble is backed by gold. It is not a fiat currency. The problem with the United States, trying to supply Europe with LNG is that we don’t have the capacity to do so at this point for the needs of Europe and especially Germany. LNG is expensive, and I have read that we will need at least five years to ramp up the facilities and the capabilities to export in bulk that amount of gas to Europe to supply their needs.
Biden and the CIA on purpose destroyed the Nord stream pipelines and cut Europe off from inexpensive natural gas. The plan was to make Ukraine a vassal state of the west to be able to get to the tremendous amount of natural resources and rare earth minerals that are there. They wanted to build a pipeline directly from Ukraine into Europe, so that western oil interest would control all that, and essentially Europe would be buying oil and natural gas from them instead of the Russians.
Well, so much for that grand plan , the Russians are going to control Ukraine. They are going to control the Russian speaking provinces where all of those minerals and natural resources are and there is it going to be a pipeline to Europe. The pipeline will turn to supply the BRICS countries in Europe it on its own. The United States has to assume total responsibility for the destruction of western Europe, economies, and the fact that they do not have access to cheap oil and gas to run there countries.
They don't need to actually ship the LNG. The whole point was to arbitrate the price spread between US and W European nat gas.
I don't know anything about finance but what difference does it make? Russia is basically an autarky - doesnt need to trade with anyone to pump out 6 million artillery shells/yr or have food on the table. This is why I knew sanctions would NEVER work vs Russia.
They are part of BRICS and have pivoted to the east to help form a new trading block. They don’t need the West any longer and they don’t care what happens to the west. We are the ones that need them not the other way around.
Tom Luongo has an interesting take on what may be going on with the Fed, the Bank of London and the EU.
https://rumble.com/v5s0g4h-what-trump-and-the-fed-are-dismantling-the-global-banking-cartel-w-tom-luon.html
Speaking of London
https://alexkrainer.substack.com/p/are-they-planning-a-false-flag-event?utm_medium=ios
Thanks
I will give that a listen, but dismantling the cartel... only to reconstruct it?
Like the continous churn in Mexican drug cartels; there has not yet been one kinder, gentler cartel leader who comes out on top to the benefit of all the poors forever.
Other than the Bible the US constitution I believe is the most perfect document on man's governance. Why did congress give up the "enumerated" power to coin and print? Its sad how corrupted we were even over 100 yrs ago.
Agreed.