Showing posts with label Mark Moss (@1MarkMoss). Show all posts
Showing posts with label Mark Moss (@1MarkMoss). Show all posts

Thursday, November 24, 2022

they're going to fight it out to the death . . . and we in the Global South are going to be doing our thing

Why does the Fed want to give up control over money to the ECB?  

Or why do commercial banks want to give up power over money to the Fed or the central banks? 

Or why does any central bank want to give up control over money to the IMF? 

That's basically the argument.  Look, I'm a Bitcoin guy, I love Bitcoin.  I love the idea of all of this stuff, but I think there's a particular order of operation that has to happen.  We live in a fallen world.  We live in a world where some are literal Bond villains [Klaus Schwab] who think they're going to make us eat bugs and live in pods and allow assisted suicide to be a better growth industry than oil exploration, and that's just the way we're going to have to accept that and they don't think there's going to be any pushback from any of the other factions who've also gotten fat and happy on the system that's currently in the process of failing.  Everybody has their idea about they can get out of this, and Klaus Schwab has his ideas, and Jerome Powell and Jaime Dimon have their ideas, and they're going to fight it out, and they're going to fight it out to the death, guys.  The British Crown has their ideas.  And the Russians and the Chinese are saying, "You know what, we don't have to play these games any more.  You guys fight it out amongst yourselves, call us when you're done having a cat fight in the backyard.  If somebody's bloodied and battered, we still have gas, we still oil, we still have cheap Chinese crap we're willing to sell you.  And we in the Global South are going to be doing our thing."

Jerome Powell has been what he's prepared to do with interest rates, and everybody says he's going to pivot.  Paraphrasing Powell, "We're raising interest rates until we break something."  Meaning the European Central Bank?  He's going to break the levered offshore dollar loan markets.  What we like to know is what we call the Euro Dollar markets, and we've already gotten our big shot across the bow with the U.K. pension system collapse which happened a few weeks ago and brought Rishi Sunak to power, Liz Truss was thrown out and there was a coup, a central bank coup over this for the purposes of betraying Brexit and bringing back the UK into the European fold.  The battle lines are really clearly drawn once you see this stuff, and it's clear the United States is very powerful forces, and they're saying, "No, we're not doing this."

5:35  Moss.  Let's break down that Euro thing for a minute.  Truss was going to frac.  They wanted to bring oil production back online from the North Slope.  of which the Prudhoe Bay Oil Field belongs.  It was a big deal, a big statement of British independence.  And 45 days later, she was forced to step down.  That's a no-no.  

There's no way back to austerity without massive amounts of pain.  So she was trying to do some austerity trying to balance the budget, lower taxes, get the economy going again, bring energy back, 

No, no.  It's German austerity, the kind the IMF always imparts on the people they want to colonize and take over.  And what they do is raise taxes, raise regulations, and they cut spending.  The cut spending part is the one that we Austro-Libertarians love, "Yeah, cut spending.  Government waste is terrible," but raising taxes at the same and we're expecting that GDP is not going to continue to contract?  It's always about protecting the bondholders, protecting the bond market and the credit rating of a country.  That's more important than the lives and welfare of the people.  What Truss was going to do was similar to what Donald Trump did in many ways did do.  Yeah, he raised some spending, and he cut taxes, and he was cutting regulations dramatically across multiple vectors as much as he was allowed to that would free up capital.