Debt Rattle October 18 2022
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Two years ago CHS posted this:
https://www.oftwominds.com/blogoct20/titanic-analogy10-20.html
Global economic war now. And, since cement is a proxy for economic activity, it is clear that the great collapse is underway. Peak cement = peak economic activity.
‘In the UK, the turmoil in their government and economy continues. Now its neighbours and friends are weighing in on the public policy debacle, and that now includes France and the US.
And we should note that giant French cement firm Lafarge has been hit with a huge American financial sanction for its “support” of the terror group ISIS in Syria. That follows similar French action. Lafarge owns the Holcim cement-making business in New Zealand.
Cement is one huge essential commodity. But production is falling in many countries now, including China. And it is part of a general fall in prices for key commodities underway as global economic growth slows. All the talk of a ‘commodity super cycle’ seems to have vanished.
Another great article from Tom Luongo. Sometimes his sense of humor really kills me. Speaking of the pressure that Fed rate hikes have had on euro-bond yields:
“It puts the positive yield on its skin or else it gets the rate hike again!”
Fed Watch: When They Call For the Bailiff You Know You’re Winning
The Real Anthony Fauci, RFK Jr’s bestselling book, is now a movie.
Watch it free for 10 days by signing up here:
https://www.therealanthonyfaucimovie.com/trailerThanks Maxwell quest for the Tom Luongo.
His ongoing premise is that Davos, representing global central banking, has been challenged to a duel to the death by American retail and investment banking. If I recall correctly, he has been painting this for at least a couple of years now, and his model seems to still provide a decent explanation.
Powell is certainly defending the $US.
I think it’s fine if Davos bites the dust first, but one of the effects will be for Europe to default on $US debt, which is massive. They will need to fall into the arms of the new BRICS+ regime, perhaps?
What will be the $US/Fed bargaining position at that point?
How much debt-default meets how much re-pegging to gold?New Improved COVID post is up, with a picture of 26 Trinidad Scorpion peppers in situ a few days ago, before I integrated them into a couple of quarts of canned salsa today. Gardener, too.
https://drjohnsblog.substack.com/p/new-improved-covidSome problem posting links today, so I’m trying again:
“The Real Anthony Fauci” movie can be viewed for free October 18 – October 28.
It is the video version of RFK Jr.’s bestselling investigative biography of the same title.
You can see the trailer and sign up for the free viewing here:
https://www.therealanthonyfaucimovie.com/trailerMeryl Nass MD, a specialist in Internal Medicine, and an expert in biowarfare, including vaccine-bioweapons, who testified before the US Congress regarding the cause of “Gulf War Syndrome” being the secret experimental Anthrax vaccine that some service members were given without consent.
Records of this were very well protected by the DoD, but the story was pieced together over time, with sound medical evidence, immunologic evidence.
I became aware of this in the late 1990s, but the story is buried in disinformation to this day. Google says it was “later disproven”, but that’s exactly-untrue.
Early this year, the Maine Medical Board suspended Dr. Nass’ medical license and mandated that she undergo Psychological Evaluation, implying mental-instability. She complied, and nothing odd was discovered, but she did not get her actual hearing started until last week. Dr. Nass is without fault, but the Maine Medical Board has discovered that they needed to cancel a lot of their allegations just before the hearing. They might have some liability…
Jim Kunstler has the story here, and it is some of his best writing ever.
American Inquisition , James Howard Kunstler
..Our authorities have disgraced themselves behind a new theology of degenerate “science” that veers back into superstition and necromancy. Proof that they don’t believe their own story shows in their desperate efforts to hide the data, confabulate numbers, ignore true facts, and lash out viciously at anyone who discloses their zealous deceits.
Case in point: the persecution of Meryl Nass, MD, in the state of Maine by its Board of Licensure in Medicine. Dr. Nass is an internal medicine physician and a recognized expert in bioterrorism who famously uncovered the origin of the mysterious “Gulf War Syndrome” as a reaction to the US Army’s own anthrax vaccine. She has testified before Congress and in many state legislatures about vaccine safety.
https://merylnass.substack.com/p/american-inquisition-by-james-howardDr. Nass will be covering this live on her blog, which link is below. If vaccine companies get any vaccine included on the recommended schedule for children they are liability-free for that product, no matter who it may kill or maim. They really need that now for the COVID vaccine-products they have sold billions of doses of.
CDC is holding its advisory committee meeting Oct. 19-20, being deliberately vague, and may vote to put COVID vaccines on the childhood schedule
https://live.childrenshealthdefense.org/acip-meeting-covid-19-injections-the-childhood-immunization-schedule-liveblog-by-meryl-nass-m-dGain of Function Research, because you need a mortal threat to be protected from.
Just to see what threat might possibly arise in nature, scientists have created a COVID-19 variant with the infectiousness of Omicron, but an 80% kill rate in “humanized” mice, which Omicron doesn’t kill much.
Reassuringly, people probably have better immune systems, and there’s no way it can leak out of the lab…
Did US Scientists Just Create an Omicron Superbug FrankenVariant… with Projected *80% Mortality*?!?
https://ashmedai.substack.com/p/did-us-scientists-just-create-anI’m sorry for the redundancies today. Please forgive me, I’m only human. 🙂
There is a 50 meter , 25 ton section of the Nordstream pipeline missing, and a big trench where it used to be.
This article talks about explosives necessary to do this, but it seems more likely that it was removed from the scene during the Swedish investigation.
“Sensitive.” “Can’t tell anybody what we found.” “Russia is free to investigate themselves.”
https://www.zerohedge.com/geopolitical/first-images-blown-nord-stream-reveals-50-meter-missing-section-pipelineMike Whitney has more on the US trade-war against China, specifically the battle to prevent China from making technological advances into the upper echelon of chip manufacturing. China already has replacement chips for all military hardware, which are older generations now, and can be manufactured in China.
(This article points out that military hardware, including guided missiles, typically uses older , standardized chips, often the same chips for various purposes. Russia probably has their need for military-application computing chips covered, also.)
https://www.unz.com/mwhitney/bidens-tech-war-goes-nuclear/Excerpted from Cui Bono? The Big Picture, about changing global economy, and how it might be managed, which is now contested.
..It is essential to understand the concept of EROI (energy returned over invested) as well as the full life cycles of the different energy sources: from extraction to processing to transportation to end user. Such explanation is beyond the scope of this article. Suffice to say that high EROI energy sources are cheap to harvest and deliver, however low EROI energy sources are expensive to harvest and deliver and indeed may represent a financial net loss. Such has been true for fracked US shale oil, another Ponzi scam which was never profitable at ANY oil price (even >$100 per barrel). It was a misbegotten project that was bulldozed through using market hubris, blatant fraud, low interest bank loans and inappropriate government subsidies. Such economic stupidity and fraud is also true for the overseas export of fracked US shale gas, even before considering the expensive energy requirements to liquefy it (cooling down to around minus 163 deg C), with continued energy needed to refrigerate it during transportation in specialist highly insulated tankers (now in short supply around the world) and the multi billion dollar investments required for specialist handling at purpose designed export and import terminals (not yet built).
The USA has depleted all its economically viable sources of oil and gas, all its remaining sources have woefully low EROI and hence are super costly (energy wise and hence price wise) to extract, process and transport. Fracked shale oil is nothing like crude oil, it has the API index and volatility of paint thinner, which is why the trains used to transport it are called “bomb” trains. You cannot make diesel, the indispensable workhorse fuel, from fracked shale oil.
Russia, along with the Caspian area, has in aggregate gone past the peak of oil production, with declining EROI (with only a few fields pre-Peak eg Kashagan). However compared with the USA, the Eurasian oil and gas sources have a far higher EROI, which is IMPOSSIBLE for the US to economically compete with…
..At present the European currencies have fallen against the USD, primarily as a result of their own energy sanctions against Russia which has caused the recession of their own economies. The European industrial sectors are poised to collapse from energy starvation. Once the BRICS+ currency arrangements and financial systems, which bypass the USD, get up and running, there will be massive flight of away from US bonds and securities and the massive international repatriation of US dollars back to the US, which will result in hyperinflation and devaluation of the US dollar, resulting in their inability to afford any imports.A War Russia SET To Win (Bhadrakumar)
Ukraine CAN Retake Crimea By Next Summer, Former Top US Commander Says (ZH)
Turkish Hub MAY Solve Nord Stream Problems – Gazprom (RT)
US POISED For Slowdown In High-end Munitions Deliveries To Ukraine (Fox)
US To SEE Winter Spike In Natural Gas Prices (RT)
WILL Comey and Mueller Be Prosecuted for Lies John Durham Uncovered? (ET)
Imagine some future event and write a story about it , journalism , it’s tough.Afewknowthetruth
“Massive Ukrainian losses of personnel and equipment, as usual.”
These MASSIVE losses have happened every day now for TWO HUNDRED AND THIRTY SIX DAYS NOW!
And they are fighting stronger than ever , how do they do it??????or , imagine a story about the past , maybe a story about the Titanic .
I stopped counting the conspiracy theories on the Youtube page at thirty eight……
BIG clickbait , some well over five million views , money for jam.And they are fighting stronger than ever how do they do it??????”
Prisoner exchange.
Did you notice … includes women and children.Expect a population drop to avoid the drop in the available energy
Wait for the exodus to countries with electricity, hot water, heat, food, and no bombs, and no swarms of attack dronesBreaking news: USA says that Russia sent a pig with explosive to blow up their own pipeline from the inside
Where is the evidence?
——
NATO Crusade against Russia to take their resources to replace their own depleted resource is costing more than its worth.
It would have been cheaper to avoid war and to keep trading.
USA would also like to steal Iran’s energy but won’t for some reasonGain of Function Research, because you need a mortal threat to be protected from.
Brought to you by the budding child psychopaths that gleefully pull wings of flies & take pleasure in the torture small animals for fun & “educational” value ~ Yeah, those malignant a$$hats 😐
A complete inability to overcome & evolve out of the *DARK* aspects of human EG0ic nature has been the #1 failing of the “American” experiment…
I woke today pondering how the DnC/GOP partisan charade has utterly failed at “keeping” the Democratic Republic of the USofA safe from domestic & foreign enemies of The U.S. Constitution aka “We the People”.
Perhaps it’s time for some new parties for this ridiculous excuse for “humanity” now full of bluff & bluster?
I suggest the new & improved Fast & Furious party, countered perhaps by the Avengers party…
Klownifornia could create the Lucha Libre party, it would be an isn’t sensación!
Even if I’ve given up hope on the majority of The Infinite’s children choosing The Path, I still know it’s available for any & all that choose it…
All blessings,
Gary
I imagine this link showed up here at TAE before. E63: Europe’s electricity market: the scam of the century? 9/8/22 About a one hour round table video.
Warm regards.I for one question the validity of the recent Nord Stream pipeline damage images. Reminds me of surgical images presented to a recovering surgery patient.
Curmudgeon.D Benton Smith said
They are characterized by nearly impeccable reasoning skills in one zone of thought, and gob-smackingly moronic blindness in another.
Or, they think scientifically on some issues yet adopt Islamic jihadism on other issues.
Here’s a decidedly different POV from Geopolitical Futures….
October 18, 2022
Still a Unipolar World
By: George Friedman
In recent weeks, Russian President Vladimir Putin has said the United States is trying to impose a new world order, one designed to control Russia, China and Europe, as well as the lesser powers of the world. It’s tempting to write it off as the ranting of a leader at war, but there’s more to it than that. Ignore the fact that Washington’s seeking a unipolar world assumes a level of planning that runs counter to the American reality. What Putin is trying to come to terms with is that in planning for war in Ukraine, Moscow completely misunderstood the nature of the world.Specifically, Russia misunderstood American subtlety. The United States did not commit major military force to block Russia’s advance, nor did it cede any part of Ukraine. The United States understood the threat posed by Russia on the border with NATO – that is, a new Cold War – and it understood Ukraine better than Russia did. So it sent massive amounts of weapons to Ukraine, the power and sophistication of which could not be matched. It struck blow after indirect blow.
Moscow also failed to understand America’s relationship with Europe. Time and again, Europeans bemoaned that Washington had abandoned its European commitments. That that was never the case didn’t stop U.S. think tanks from validating the idea, nor did it dissuade Russia from believing it. In times of peace, the U.S. could do without the prior relationship with Europe, bickering over trade rules and Russian energy dependence. But when the war broke out, the relationship rapidly transformed. Germany, for example, did not value Russian fuel as much as it valued American security guarantees. The Europeans knew that Russia could hurt them, and they did not really trust the Russians, but when push came to shove, they knew American interests lay in Europe. Putin, I think, was stunned when he learned the Germans stood with the Americans. He lacked a sophisticated understanding that there are different types of power and that the power projected by Russia was too blunt to work. Putin could not understand the power of appearing uncertain.
Still, the worst mistake Putin made concerns the U.S. relationship with China, a country in deep economic crisis. Moscow could neither hurt nor help China. The U.S. can do both – help by increasing investment and buying more goods, and hurt by blocking the sale of, say, certain microchips. China believed it did not need the United States to recover, and it convinced itself that Washington could be intimidated by naval and related power. Instead, Beijing discovered that its threats around Taiwan and other areas simply generated more vessels and weapons to be deployed against it. The utility of an alliance with Russia was shattered by the realization that the U.S. could respond militarily in Ukraine and, simultaneously, in the South China Sea.
All of this should have been obvious, and I think China was more aware of U.S. capabilities than Russia was. Chinese President Xi Jinping knew when to cut his losses. Putin kept doubling down. This seemed to be validated over the weekend by a spokesman for the 20th National Congress of the Communist Party of China, whose statements were paraphrased by China’s Global Times newspaper as follows:
“If one of the most important events in international relations in the past 50 years is the restoration and development of China-U.S. relations, which has benefited both countries and the world, then the most important thing in international relations for the next 50 years is that China and the U.S. must find the right way to get along with each other. The key for China and the U.S. to find the right way to get on with each other is mutual respect, peaceful coexistence and win-win cooperation proposed by General Secretary Xi Jinping. Common interests between China and the U.S. far outweigh differences, and a sound and stable China-U.S. relationship serves the common interests of the two peoples.”
We are used to China hurling threats at the United States. Now, it is searching for ways to accommodate the U.S. It has noted the American performance in Ukraine, both subtle and brutal, and has decided that an alliance with the U.S., however loosely defined or temporary, is far more attractive.
It’s no surprise, then, that Putin sees the U.S. as a force trying to create a unipolar world, because in some notable ways, it is a unipolar world. The U.S. is the largest economy in the world, its current problems notwithstanding. It also has a sophisticated military, able to bring overwhelming force to bear, train an army at war in new weapons, and use subtle force to shape the world. American power isn’t absolute, and it can be outstripped. But it is sufficiently mobile to act sequentially when simultaneous action is impossible. Put simply, the United States is the most powerful economic and military force in the world – when it chooses to act. Inaction can be confused by men like Putin as weakness. The U.S. has learned that with its inherent power it has time to react.
The American public often sees the United States as weak and mismanaged. There’s a tendency to label Joe Biden, Donald Trump, Barack Obama, Bill Clinton and George W. Bush as criminals or morons or both. The same charges were levied against Andrew Jackson, Abraham Lincoln and Franklin Roosevelt. Contempt for the commanders-in-chief is a prerequisite, to prevent tyranny, even if it has its drawbacks. The America First movement opposing U.S. participation in World War II interfered with Roosevelt’s ability to make decisions. It had a direct impact on Pearl Harbor and caused a painful initiation for the U.S. into war by the Japanese, which of course ended in catastrophe for them.
The perception of American weakness is a global one, shared even among Americans. Being underestimated has its uses, as does sporting a public that doesn’t trust its president. But only enormously powerful nations can afford the contempt. The past few months haven’t taught us that the United States is finagling a new world order. It’s taught us that Russia is weakening, that China is managing its relationship with the U.S. carefully, and that the international architecture created after World War II, though more complex, essentially remains in place. It is a unipolar world.
Germ said
I was recently talking to a GP friend here in the UK who told me “if there was a problem with the Covid vaccine we would have seen it by now”.
I approach the subject of vaccination from a consideration of risk. Instead of trying to persuade people that the vaccines are dangerous, I demonstrate to them why their decision to take the vaccine was an unknown risk and Covid was an unknown risk. They are usually willing to accept that it was an unknown risk, once you remind them of the 6 month development cycle, the lack of long-term trials due to the 6 months etc, the emergency authorization used to get around the usual rules used to ensure that a vaccine is safe. They will then tell you that although it was an unknown risk, they decided to take it anyway and that was the right decision as nothing happened to them, at which point you can nail them to the cross: they only took the vaccine because the TV and MSM told them to. That tells me that they are weak and have no ability to stand up against the crowd. In the light of that, their evaluation of the vaccine is simply the MSM and TV evaluation of the vaccine, not their own considered opinion. The fact that they were lucky and survived has nothing to do with it.
“I think it’s fine if Davos bites the dust first, but one of the effects will be for Europe to default on $US debt, which is massive. They will need to fall into the arms of the new BRICS+ regime, perhaps?”
Defaults will happen, it’s inevitable, but the CB’s have the uncanny ability to relabel it as something else, hide it from the masses, and force outsiders to eat the losses… bank bail-ins for example. The US will eventually default, but first it must break the back of Davos, and derail their Blofeld plans of world dominion.
A multi-polar world is our friend. Balance of power good, concentration of power bad. Let’s say that Davos wins this war. The 500 million or so that survive their next culling attempt will end up in the Hunger Games, while a small commie cabal owns everything, extracts rent, and enjoys the splendors of their utopian Capital. In comparison, all the extraction colonies will live in squalor, while Effie Trinket tells them on the evening news how lucky they are to be kept around.
Yesterday, here in Pengu Taiwan, exposed headlands had force 8 winds with force 11/12 gusts – too strong for windsurfing. These areas tend to be occupied by small wind farms of up to 8 windmills. We went around the island chain yesterday to see what was happening, we noticed that in all the wind farms, only one windmill was rotating slowly, all the others were stationary. This is interesting because it shows that regardless of how much wind there is, you can only utilise enough to meet current demand, and on a small island there is not much demand in the middle of a comfortably warm day. Without a means of storage, there is no way that the majority of available wind energy can be used. Even with all water being created by desalination, there is not enough demand. The windmill is an incomplete technology, most are stationary while megawatts of wind pass it by, illustrating for all that it is mostly useless.
Several things are absolutely clear; 1) A World War is underway to destroy the Russia, China and Iran Axis, 2) The effects of this on the lower classes are of no concern, 3) Propaganda and ignorance work, 4) A Color Revolt is underway in Iran, and 5) Clearly, Europe is being de-industrialized.
Indeed, the destruction of three of the four pipelines from Russia to Germany and Sweden’s cleanup of the evidence is a spectacular “Whodunit?” Likewise, the preparation of the Semi-trailer with twice the explosive power of a bunker busting bomb in Odessa and its transfer through the Balkans, Turkey, Georgia into Russia is a professional job by experienced operatives that precisely exploded to damage both the rail and road Crimea Bridges. So far, the USA has avoided a direct confrontation with Russia while using Ukraine to its advantage. Except, its partner in the Western Empire, the UK has a PM, Liz Truss, who has the shelf life of a head of lettuce and Joe Biden doesn’t know stage left from right.
An economic war is also now underway with China. The transfer of semiconductor technology is halted and Americans working in China in that field fired. Due to the crash of PC & IT sales, Intel is firing thousands of its employees. In addition, due to the failure of public health to mitigate Coronavirus except by China, there is a serious worker shortage in the West that remains hidden unless you are directly affected.
Jamie Dimon, Chase, blasts Joe Biden on energy. Elon Musk, Tesla, is added to Ukraine’s hit-list for his peace plan. Washington Post reveals that 15 retired US Generals and Admirals were hired by Saudi Arabia as consultants since 2016.
In reality, corruption has a mind of its own. When money is absolutely the only thing of value and crimes go unpunished, a corporate/state super-mob (the Empire’s deep state) is in charge. This means the war is fought with tactical competence but no strategic leadership. They all are in it for themselves. It is not a people’s war though it was initiated as an ethnic conflict. It is a medieval war in the nuclear age. This is why Russia is on its back foot. The conflict will keep escalating, until the generals in control of the nuclear weapons, ignite their ICBMs or not.
VietnamVet said
A Color Revolt is underway in Iran
Russia, China and India cannot allow the USA to take over the Iran government, even if it were able to, so this could open up a new front for Putin, but I suspect that China and India may get involved in this one. Moving NATO into Iran is yet another step eastward, the rest of the world will have to assist Russia if it wants a Russian victory without a nuclear confrontation. The USA is well and truely back into its habit of destroying the world and stealing resources.
Red, thx for posting about Truss by the Consciousness of Sheep.
Quite so.
The broader view is that traditional Pol. Parties all over Europe are withering and dying. The whole so-called ‘democratic’ govermental structure (how it is run varies from country to country) is broken and won’t be re-vifivied, re-born.
Ex. France. The Socialists are dead in the water, they no longer exist, the ‘Républicains’ (leaning ‘right’ in traditional parlance, the name is a copy from the US) have little or no influence.
Fringe parties (some of them quite interesting) are completely excluded and vilified, just an inch from being banned and having leaders imprisoned. No MSM paper, TV station, etc. will give them one minute of air time.
Macron and his ersatz ‘party’, the LREM, which was set up to support just one candidate, him, Jupiter (his nick name), is still going strong more or less. It is not a Pol. Party that represents, or claims to fight for, some part of the population, its interests, or the general good.
Italy has been run by ‘technocratic’ gvmts for a while (Draghi!), Meloni is just for show, I posted about this before. I could go on… the point is that these ‘democracies’ (incl. Spain, Germany, others) are régimes that are teetering on the brink, in the sense that pretense of taking into account ‘ppls opinions’ or ‘votes’ is being revealed as bogus, and now realisations of that, if v. slow and timid, are beginning to burgeon — it is perhaps too late. The army will be called out, blood in the streets, kinda scene.
Imho, a kind of ‘democratic’ governance can be sustained in times of growth, everything is cool, anyone can have their say…when FF become scarce, and ‘the economy’ stutters and falters, fails, darkness descends, other story.
aspnaz & vietnam vet
“A Color Revolt is underway in Iran”
A lot of folk always think that if there is some kind of pushback or revolution happening anywhere that is entirely originating from and being orchestrated by the US/CIA.
Some influence can be brought to bear through social media but it is impossible to bring hundreds of thousands onto the street unless they have a legitimate grievance .
I visited Iran about five years ago and a lot of people were pissed off with the regime and were not afraid to say so .
One man in a shop in the central market of Shiraz actually called out in a vey loud voice to me and my friend as we walked by ,” This regime no good” , no body around us looked upset or unhappy with his statement , it seemed the majority agreed. We never met any body who spoke good for the regime.
We were there for Ashura the biggest Shia religious celebration of the year. The scene of over one hundred thousand people marching in the parade in Shiraz was immensely impressive , all the women were in full black purda .
That morning after the parade there were two hundred and fifty thousand people at the central mosque complex , we wanted to go in but we were told to come back later in the afternoon , which we did.
It seems although there is a lot of dissatisfaction with the government there is still a very strong commitment to Islam.
We never saw a sign of the regime goons anywhere at any time.
The demonstrations happening at the moment would seem to indicate otherwise though , so I can’t see what would have changed in such a short period of time.
However the young people are the most pissed off as they are all so highly educated and yet employment is just no where to be found.
The anti-head covering protest is most likely happening because it is the most personal and obvious sign of the thuggish regimes control , I would think that many of the protestors are still deeply religious.
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