"An interesting weekend..." Add to the developments in Syria, Biden pardoning Hunter now & not waiting until January. He knows he might not make it until then. All eyes on London, they have something planned this month as you & Alex suggested.
Luongo says that [Biden] made a deal with Trump to not escalate the war and so, stopped the steal. So if the deal a kind of advanced pardon of Joe to preempt any effort to imprison him or worse, then that kind of handcuffs the boys running Biden's only 4 years as president, boys who really want war in Ukraine to cover up their massive crimes there.
There's a reason why "we can't lose in Ukraine"
And it's because Joe made a deal with Trump to not escalate the war and stopped the steal.
Now, the False Flag of "Biden authorized ATACMS" has us on a very predictable path towards the 25th amendment and a coup by Harris… https://t.co/BlMficawOL
11:00. Under Biden, we had a bunch of Ukrainian Nazis. We had Anthony Blinkin, Nuland, and all the other people. We don't have that. We may have a lot of people who are Israeli first, or owned by AIPAC, or whatever you want to call them, they are not ideologically related to this conflict with blood. And that's a massive upgrade. That means that ultimately these people are going to be transactional about this stuff, whereas Nuland and Blinkin and the others were not transactional about it. This was personal to them. Yeah, they were put in those positions to execute on that personal animus, and that's reality and as clear as day with Blinkin and it's clear as day with Nuland and Kagan and Bill Crystal, and all the rest of them. Those people are not in power here. What we have are a bunch of people who are . . . two things. I'm trying to take the other side of the Pearl collection on this
Tom's remarks about Mark Walz, Kamala Harris' new VP pick, were extremely interesting.
33:36. And as Alexander Mercouris pointed out ages ago, he said "But then that effect of this has been to hold everything in this band and hold everything and Innovation behind the curve technology then the lack of competitive then the lack of competitiveness of German industry is exposed badly, especially with the rise of China. So now Germany is ultimately the target. Now you can kill the ECB, and you can kill the EU. If you were a bunch of predatory Fed and New York and Tokyo bankers and you like more open Capital markets than the Europeans do, well then you're going to not argue; you're not going to be down there. That's why they hate Trump who put Powell in place and they replaced Libor with Sofr. This is the story I've been telling for 3 years.
What is SOFR? The Secured Overnight Funding Rate. It is the U.S. domestic replacement for LIBOR. SOFR is market-driven and arrived at through actual transactions in the U.S. money markets with the daily quote arrived at by real data from real US banks.
LIBOR, on the other hand, is a rate set by 17 foreign banks and 1 U.S. bank (JP Morgan Chase’s London Division). It’s still not market-driven but arrived at by consensus. Regardless of that, it represents the activity within London’s and Europe’s banking system, not the U.S.’s.
Ad therein lies the rub.
For all intents and purposes for decades, LIBOR was the mechanism by which the City of London and Europe controlled the flow of dollars into and out of their banking system. No wonder the Fed had no real control.
Broadly speaking, when the Fed raises rates and it causes a drain on the eurodollar system, it puts upward pressure on LIBOR. If Europe’s banks are more exposed to a rise in the cost of dollars then LIBOR should blow out faster than the Fed raises rates.
In past cycles, before SOFR, all US debt was indexed to LIBOR. So, it didn’t matter if the Fed raised rates domestically, our mortgages, lease rates, and credit lines blew out with LIBOR even if there was no underlying stress in these domestic markets.
“Have you ever wondered what happened to the 56 men who signed the Declaration of Independence?
Five signers were captured by the British as traitors, and tortured before they died.
Twelve had their homes ransacked and burned.
Two lost their sons in the Revolutionary Army, and another had two sons captured.
Nine of the 56 fought and died from wounds or hardships of the Revolutionary War.
They signed and they pledged their lives, their fortunes, and their sacred honor.
What kind of men were they?
Twenty-four were lawyers and jurists.
Eleven were merchants, nine were farmers and large plantation owners, men of means, well educated. But they signed the Declaration of Independence knowing full well that the penalty would be death if they were captured.
Carter Braxton of Virginia, a wealthy planter and trader, saw his ships swept from the seas by the British Navy. He sold his home and properties to pay his debts and died in rags.
Thomas McKean was so hounded by the British that he was forced to move his family almost constantly. He served in the Congress without pay, and his family was kept in hiding. His possessions were taken from him, and poverty was his reward.
Vandals or soldiers or both, looted the properties of Ellery, Clymer, Hall, Walton, Gwinnett, Heyward, Ruttledge, and Middleton.
At the battle of Yorktown, Thomas Nelson Jr., noted that the British General Cornwallis had taken over the Nelson home for his headquarters. The owner quietly urged General George Washington to open fire. The home was destroyed, and Nelson died bankrupt.
Francis Lewis had his home and properties destroyed. The enemy jailed his wife, and she died within a few months.
John Hart was driven from his wife’s bedside as she was dying. Their 13 children fled for their lives. His fields and his gristmill were laid to waste. For more than a year he lived in forests and caves, returning home to find his wife dead and his children vanished. A few weeks later, he died from exhaustion and a broken heart. Norris and Livingston suffered similar fates.
Such were the stories and sacrifices of the American Revolution. These were not wild-eyed, rabble-rousing ruffians. They were soft-spoken men of means and education. They had security, but they valued liberty more. Standing tall, straight, and unwavering, they pledged: ‘For the support of this declaration, with firm reliance on the protection of the divine providence, we mutually pledge to each other, our lives, our fortunes, and our sacred honor.’”
~Michael W. Smith
It's how OSHA, the Occupational Safety and Health Administration, was able to decide that everyone who worked for a large company had to get the jab or be fired. No law gave them that authority. They just made it up.
It's how the ATF, the Bureau of Alcohol, Tobacco, Firearms, and Explosives, was able to decide a piece of plastic was a machine gun.
It's how the USDA's Natural Resources Conservation Service, the NRCS, is able to decide that a small puddle is a protected wetland. --Greg Reese
1:40. A family fishing company, Loper Bright Enterprises, was being driven out of business because they couldn't afford the $700 per day they were being charged by the NMFS, the National Marine Fisheries Service to monitor their company. The thing is federal law doesn't authorize the NMFS to charge businesses for this. They just decided to start doing it in 2013. Why did they think they could get away with just charging people without any legal authorization? Because in 1984 in the Chevron decision, the Supreme Court decided that regulatory agencies were the experts in their field, and the courts should defer to their interpretation of the law. So for the past 40 years, federal agencies have been able to interpret laws to mean whatever they want, and the courts had to just go with it. It was called "Chevron deference," and it put bureaucrats in charge of the country.
It's how OSHA, the Occupational Safety and Health Administration, was able to decide that everyone who worked for a large company had to get the jab or be fired. No law gave them that authority. They just made it up.
It's how the ATF, the Bureau of Alcohol, Tobacco, Firearms, and Explosives, was able to decide a piece of plastic was a machine gun.
It's how the USDA's Natural Resources Conservation Service, the NRCS, is able to decide that a small puddle is a protected wetland.
It's how out-of-control agencies have been able to create rules out of thin air and force you to comply, and the courts had to simply defer to them because they were the experts.
Imagine if your local police could just arrest you for any reason, and no judge or jury was allowed to determine if you'd actually committed a crime or not, just off to jail you go. That's what "Chevron deference" was. It was not only blatantly unconstitutional, it caused immeasurable harm to everyone. Thankfully, it's now gone. We haven't even begun to feel the effects of this decision in the courts. It will be used for years to come to roll back federal agencies, and we'll all be better off for it. And that's why politicians and corporate media are freaking out about it.
In an era of bad news, the US Supreme Court has brought us some good tools that we the people can wield to work on restoring America. Happy Independence Day.
Reporting for Infowars this is Greg Reese.
As a follow-up, please read this by James T. Moodey @ Lew Rockwell. Looks like there was momentum building for this at least since last year, January 2023. Check out Judge Napolitano's essay, titled, "A Government by Experts," January 12, 2023.
Tom Luongo has got his claws on this as well at least since March 23, 2024,
This is yet another example of the desperate need for the Supreme Court to take up the Chevron Deference and strike it down. The agencies should not be making law. That’s Congress’ job.
And I don’t care if Congress is allergic to doing its job, new emission regulations should not be in the hands of unelected bureaucrats run by chiefs who are chosen by the current political party.
Ultimately, Davos cannot deviate from their Gantt chart of their takeover of the West lest they get torn apart like a narc at a biker rally (H/T Dennis Miller). This is why Mark Rutte is being moved from being PM of The Netherlands to NATO Gen. Sec. and why Jens Stoltenberg is moving to the Norwegian Central Bank.
The wildcard here is quickly becoming Nigel Farage in the UK, who could embarrass them again like he did in 2016 with Brexit. Regardless of the outcome of the elections, Farage, Geert Wilders, Marine Le Pen in France and others will all be blamed for a European sov. debt crisis that was baked into the financial cake (and Gantt chart) ages ago.
The big news item for me this week all center on Europe. U. S. domestic politics at this point are pretty much obvious. They're trying to do everything imaginable to stop Donald Trump from becoming president and they are failing miserably. I could have just as easily put Nigel Farage up here and talked about next week's election in France and the U.K. I was all over Twitter yesterday because Nigel Farage came out on national television and basically came out and said, "We provoked Putin into a war, and that's just the reality of it, and if you don't like it, well, you know it's the truth.
This is giving me Ron Paul/Rudy Guiliani vibes folks.
— Tom Luongo (Head Sneetch) (@TFL1728) June 22, 2024
And Farage knows what he's doing. He's time-tested that idea for a long, long time. I said I wouldn't talk about Farage, but here I am going on about him already. Farage's Reform Party is making sincere strides in the polls. I don't know if he's going to have the kind of coattails that will allow him to really upset the apple cart in the U.K., meaning the planned coronation of Keir Starmer with a massive Labor majority which he'll use to destroy what's left of the U.K. and make it subservient to Davos in Europe. Well, that's the most likely scenario, but if Reform comes in with 150 or 200 seats, that's going to be an earthshattering result even though it will leave Starmer in a huge majority position, Nigel Farage leading the opposition Party in the U.K. government, aside from the fact that it would be hilariously entertaining, would be tremendous. Now, at the same time, this is a lead into what's happening in NATO. I was asked directly by people to discuss Mark Ruta
Friday, June 14, 2024
Starts with the headline that the Biden Administration leading a campaign to persuade leaders of G7 nations--UK, Canada, France, Germany, Italy, and Japan to sign off on this plan that it views as vital to to giving Ukraine a shot at turning around it's prospects against Russia. I recently had Jim Rickards on, the author of Currency Wars, and he says that the US is set to steal Russian-owned treasury securities have to G7 which he says this theft will not only destroy the US Treasury market overnight, but potentially do far more damage. What are your thoughts, Tom, on this US-led campaign, and do you agree with Rickards?
3:02. I frame it a more complicated way than that but I don't disagree with Jim that yes if the US were to take the catastrophic move to seize Russia's Frozen foreign exchange assets that this would be an unprecedented event change the nature of pretty much global finance and it would change the nature of pretty much of global finance. My problem with that view is that I don't want to let Europe off the hook hear first Ursula von der Leyen and her acceptance speech, for lack of a better term, winning another term as European Commission president, effectively made it abundantly clear yes we're going to take 1.7 billion dollars from Russian foreign exchange assets this month and the next month basically they're going to use they have set up a facility I've always viewed this. And I don't view the Biden Administration is working for the best interest of the United States I never have I never will I think there are a bunch of vandals and I think they're a bunch of vandals that take their orders from Europe.
26:15--28:00 Davos wants control, wants to remove Israel from the scene. Why? Because they want to finally put to bed the remnants of the British Empire; that includes the British Empire's proxy, the United States.
I see Davos, the old colonial powers of Europe, as the primary drivers here because psychologically they map to the most aggressive and the most entitled because they've always controlled natural resources of the 3rd world. They still see the U.S. as one of the colonies. The French still want Louisiana back. They still want Quebec back. They still make a big deal to get Louisiana back [from] the United States. They still want to rape the Sahel region of Africa for pennies on the dollar. Same thing with the Germans. Same thing with the British. Same thing with the Portuguese, the Dutch, and the Italians, all of them. They all want it back the way it was before.
"You really want to know whatIwant? You really want to know the truth, yes? I want my people to reclaim their rightful place in the galaxy. I want to see the Centauri stretch forth their hand again, and command the stars. I want a rebirth of glory, a renaissance of power. I want to stop running through my life like a man late for an appointment...afraid to look back, or to look forward. I want us to bewhat we used to be!I want...I want it all back the way that it was!"
That's why all of a sudden the world is saying, "Hey man, it's okay to hate Israel. We're all pro-Palestine." Everybody's like, "That doesn't make any sense. [Then] why is Sunak pro-Palestinian?" Because he works for Davos. It's not that hard.
Here is the full interview.
37:00. The entire city of London apparatus buying up treasuries like crazy in order to prop up the long end of the US yield curve meaning suppressed rates and hold up prices in the Bank of England has done this and all of the Bank of England's proxies by the way Bermuda the British Virgin Islands the Caymans all the offshore tax savings that are nominally under British crown control they've been buying the crap out of US Treasury so everybody's going to die yeah but the bank of England just bought $600 billion. They are the 4th highest holder of US debt at this point total within that system, like, up from $350 billion so this is how much of other people's money they have spent to suppress the price to do yield curve control on the US yield curve in order to keep the German yield curve from exploding to the upside and collapsing all of the European Banks. It's a game of extend and pretend. That's EU's modus operandi. Extend and pretend in one Arena in order to create plots and counter plots and subplots in another Arena Financial extended pretend in order to politically advance other agenda and attack another idiot the US legal system, for example, the political system for example why do we go after Donald Trump with non-crimes not because Trump isn't whatever you think of trump is irrelevant what's important is that the Fallout from this case is to destroy the concept that the United States is anything other than a mafia-narco state and that there's no rule of law left. And then if the US were to seize the Russian foreign reserves, your money is not safe there either. Now who does s*** like this? Why would the United States do this? And don't give me the spinal response that's been programmed to trigger into you "Oh that the US is just trying to protect its Empire." B*******. That is not what's going on. This is foreign interference in our f****** system. So, who are the foreigners? I happen to choose Europe. Why? Because they're the ones with the most to f****** lose. The Chinese aren't doing this because they have so much to lose. All the Chinese have to do is sit back and buy the yuan and buy gold and make friends across Asia. Same thing with the Russians. They don't have to do anything except occasionally lob artillery at the Ukrainians and strategically take out the concentration of NATO guys that wander across the border to run the attacking systems and whatever else we put in place which is all real. That's all the Russians have to do. They have to do nothing. And when the Chinese have no real need to destabilize the US that way, the Chinese would be better served not to do this because you don't want the United States to collapse as a consumer economy, as a productive economy, as an innovation economy. You don't want that. It's not a zero-sum game. The real game of geopolitics is a bad model because the game never ends. It's not a game that ends. These all people think it ends. If I go back and watch The Watchmen again when Ozymandias turns to Doctor Manhattan and says in the end, "I did the right thing didn't I, John?" The world just keeps going on and there's no one singular narrative. To circle all the way back around to what you said about the people having a hard time understanding what I'm saying is because they need this prima facia evidence of the need for a singular narrative because you cannot deal with the idea that it's just a bunch of people b******* or it's foreign multiple forces competing factions doing their thing. At the end, there's a bunch of cards on the table and somebody goes "I've got five sites. I win. Shuffle up the deal, let's do it again."
Saturday, May 25, 2024
The plan is civil war. The plan is secession one way or another. The whole idea of California and Texas getting together and ousting the . . . I don't buy that, right. California and New York would go their separate ways if Trump wins. If Biden wins, Florida, Texas, and the South would go, yeah, we're done. But that's the big fake out because the real target is the bond war. The real target is the bond market.
The way Europe survives, this is all about Europe, it's all about Davos. Davos still exists. We could reach peak Davos but they refuse to lose. They're still trying to make moves. They're making a lot of moves as a matter of fact. And they've been making a lot of moves in the last 48 hours that had me ranting into a microphone for 45 minutes before we started here this morning.
For Europe to survive, you have to break the U.S. financially, legally, politically, culturally, on the border, all of it. While Europe fiscally integrates, politically integrates and will not tolerate any dissension, they're actively trying to break us apart. Why? If you have Janet Yellen and Joe Biden spending more than $2 trillion a year than we are bringing in, then you're just eroding the fiscal position of the United States. You're undermining the validity of the US Treasury as a reserve asset in the world. You can't make the Euro a reserve asset but I don't think they actually wanted the Euro to be a reserve asset otherwise it never would have gone into negative interest rates in the first place. They've always wanted to replace the Euro because it's a faulty structure so they needed to have a new structure, a new Euro with a better structure, one that looks a lot like the United States dollar with one issue, one Central Bank; not 20 central banks issuing euros.
Friday, May 17, 2024
It's always spicy when Tom Luongo (@TFL1728) speaks, but it's when he gets the cigar going that you know it's going to be really spicy.
At the end of the day, there isn't enough money for guns and butter. There isn't enough money for cheap housing and cheap energy. Nothing is cheaper than Russian pipe gas. Net Zero is not going to work. Oil consumption in general is going to continue rising. I think oil is already too low at $83 a barrel. I think it's just basing. Uranium is coming back into the mix because I have no other choice. Copper is your canary in the coal mine. Copper is still your leading indicator of industrial demand for electricity demand. You want to be long uranium? Well, you're going to need copper. Yeah, nuclear is coming back. Uranium prices are cheap.
It takes a year to get an aluminum smelting pot back up and running. That's why they call it congealed electricity. It takes a huge amount of electricity to make aluminum.
As the days pass, it's hard to deny that it looks like what this occupied government desires is that the Right would react to their pronouncements with violence.
What they seem to not understand is that they're just creating more apathy.
Lack of engagement on your part to an…
— Peter R. Quiñones (@PeterRQuinones) May 2, 2024
As the days pass, it's hard to deny that it looks like what this occupied government desires is that the Right would react to their pronouncements with violence.
What they seem to not understand is that they're just creating more apathy.
Lack of engagement on your part to an incompetent government hurts them more than a hopeless revolution would.
Zoltan Pozsar is going to turn out to be right about everything about Bretton Woods and the golden oil market, and treasury bonds, money in commodity-based markets, and money, it's having all sorts of effects you politically that's the 40,000 ft level overview.
I see a lot of people talking about are Bond markets they seem to be . . . . What's happening to the bond market?
The big question here is that we live in a central bank-dominated world. We've now reached a moment in time where fed policy is the singularity that everybody has to go focus intensely on and we're going to go through that Singularity and come out the other side and what's that going to look like and a lot of people from my side of the board.
The bad guys are easy: they want low interest rates and to do that they really want to keep us enmeshed in low ninterest rate environment so that when the system crashes and they take us to war, they will be able to default on all their debt and issue a new system that they'll still control. The other side of that of course is the people who I think at the Federal Reserve and the New York banking system are like yeah that's nice but we are not down with being sacrificed on that altar so that you can win and I am specifically talking here about the city of London Frankfort Brussels that complex at the same time then you have the Russians and the Chinese and the Eurasian powers now known as the bricks block saying guys it's no longer your money our problem it's now our Commodities your problem this is going back to Zoltan Pozsar's note when he was with Credit Suisse to 2 years ago talking about that and Bretton Woods 3 and all these things so I want to highlight what he talked about 2 years ago heavy duty and all the heavy duty commentators on this myself and Solange all went crazy ZeroHedge and the rest of them talking about thinking about what Posner was writing about it then and we talked about it over time I've done on my podcast but it's right here right now Russia Ukraine the EU is pushed for war bonds the Israel Iran conflict all of this stuff comes down to the commodity producers of the world saying we are no longer going to be price takers of your s***** money.
4:13. What that means is that when you start thinking about it in terms of the yield on sovereign debt, what it's doing is effectively exposing the crack of the old system now that system was great when we were globalizing now that we are globalizing shipping is no longer global shipping of commodities of oil, of goods from China, and everything else is no longer safe. The Houthis are winning in the Red Sea. And so that part of the system is what's under attack and their effect as Libertarians like to put it, is "striking the root" and saying, "Oh, by the way, this is reality and all the rest of it was great when we were at peace. We're not at peace anymore. Now we are at war. And when we're at war, shit stops moving around the world. Stuff still moves but it doesn't move with the same frictionless impetus that it had before. Now that the financialization of these markets through the issuance of sovereign debt and more currency to keep everything liquid now carries a risk premium that hasn't been quantified before yet, hasn't been hedged, hasn't been dealt with before, so now the risk premium has to rise, i.e., interest rates have to rise. I think the Federal Reserve understands this. I think the BoJ over in Japan understands this. I think the Russians explicitly understand this. I think the Chinese are like "Hey, let's make a deal," but nobody wants to make a deal because everybody in the West likes to be able to use that old system to determine commodity prices. That's why Janet Yellen keeps talking about putting a price cap on oil, and it doesn't work. It's why we keep sanctioning Russia; now this week we are saying no more Russian copper, aluminum, and nickel can float through the London Metal Exchange, LME, or the Chicago Metals Exchange. Why the CMA? So it's not going to work because at the end of the day, we have money, they have commodities, and you're going to pay now some large amount of Premium to get that.
6:38. and we are the price makers and you are the price takers and it's always been the other way around we've always lived under the situation where we're the commodity producers and they're the price takers and we were the price makers under normally functioning markets that's the way it should be because the consumer is sovereign the consumer in this respect now is on the other side of it saying we need to commodities to live our lives but the commodity producers are saying this deal f****** sucks and we're not taking it anymore. So take your money and shove it, invoking Johnny Paycheck, 1977. We are not doing this anymore.
8:10. What's your take on the 702 Surveillance Act?
8:25. I look at it in terms of timing. We've got this Ukraine bill that they are desperate to pass through. You got Ukraine losing badly. You've got all of project Europe trying to get the United States to fight World War 3 like we fought World War I and World War II on their behalf and the fights that they picked for the Russians, picked a fight with the Russians through the Germans. I look . . . . we get this FISA thing and to me, it just felt like chum. I hate to be cynical about it, but, hey, let's throw this thing out there right now because the two most hated men in America are Jerome Powell, because he won't cut interest rates, and Mike Johnson, because he's a speaker with a one-seat majority who's trying to hold back a tidal wave of crap being thrown at him. So I looked at the FISA thing and asked myself, " Why is everybody getting so upset about this?" like did you really think in 2024 America with Obama in charge and Davos still running around that we would give up the FISA Court at this moment in time? No. As Mad Max put it in Fury Road, "That's bait, that is."
That was created to make sure that Johnson was the guy who had to cast the deciding vote because there were 12 Not-presences so that we can activate Marjorie Taylor Green, who I don't trust as far as I can fucking throw her. Or any of these other people who are . . . as far as I'm concerned I'm at the point now where Marjorie Taylor Green is AOC for MAGA-tards. That's the way I see her straight from Central Casting a Georgia GOP that is as compromise as any state party that you could possibly imagine all run by old Guard Republicans so I look at this and I say to myself a useful idiot at the end of the day the goal here is to destroy Mike Johnson the goal here is to get rid of his speakership before the recess in August when they all leave Congress to go campaign for the fall you've got this very narrow window between April and August to get a whole bunch of stuff through to ensure that if Donald Trump does win the election and there's a Red Wave in the fall that we leave him with enough poison pills that it destroys his presidency the second time around the way they destroyed it the first time around this is nothing new we've lived through this before this happened before it'll happen again the difference is we are now at five and a half percent interest rates with the Federal Reserve and a Wall Street that has looked at all of this and said you people are crazy we are not doing this.
7:00 Netanyahu was against it because this was a means by which Europe would get access to cheap Iranian energy. Go back and remember that it was Total, the French state energy company that signed the first major exploration deal with Iran after the JCPOA, Joint Comprehensive Plan of Action [i.e., the Iran Nuclear Deal, signed in 2015], was signed. When you put all of that together, Varadkar maps to Davos in Europe. Davos maps to backing Palestine, backs Palestinians against the Israelis, Netanyahu's purge of the Palestinians, whether or not Netanyahu is justified in . . . that's beyond my purview here.
8:17 Now the Biden administration has a very interesting problem, a conundrum because many issues map directly to Davos. And on other things, it's also a nest of traditional Neoconservatives, the whole National Security Council and State Department have been staffed with the worst Clintonista Neocons--Jake Sullivan, Anthony Blinken, formerly Victoria Nuland, yada, yada, yada. So what's going on here? The Neocons were put in charge by Davos to run the war in Ukraine to pressure Russia. It was their project. They're the ones who built it. They're the ones who built Ukraine, but never forget that Europe was okay with the idea of fighting a war in Russia as long as we paid for it and we ultimately fought it. But the minute it became too big a cost for them, they were no longer interested in it; or, more appropriately, the minute we were no longer willing to bankrupt ourselves and commit ritualistic f*cking suicide as a country, meaning the United States, they lost their minds. So firing Victoria Nuland from the State Department set a lot of dominoes in motion because all of a sudden Europe is left with a war they picked against Russia, they're committed to it, and the United States is like, "You know what? No." And then the second front opens up with Israel and Palestinians in October 2023, and Davos is running that game as well, and Netanyahu is saying, "No." So now the Biden Administration is trying to slow everyone's role in the Middle East to do what Davos wants them to do, i.e., get a ceasefire, and everybody is lined up across the board on this front because it looks bad. It just flat-out looks bad. Now Europe looks like the ones aggressing in Ukraine, pushing things forward; the Americans are backing away. And they've got the Americans basically talking out both sides of their mouths in the Middle East, and now it's an untenable situation, an untenable sh*tshow for everybody, politically and reputationally around the world. I don't know. I'm laying aside a whole bunch of other issues, but I think Leo Varadkar stood there and said I wasn't going to bow to Joe Biden over support for Palestine, but he was on his way out the door anyway because he had already lost the confidence of his coalition. I think that's probably as close as a good take on this as I can come up with.
4:18 The Fed doesn't care about Bitcoin. The Fed likes Bitcoin, I think. But the Fed was waiting, and this is something I want to talk about the next time I have Caitlin Long [who makes some interesting comments on Bitcoin below] on my podcast because she's asked me this question a couple of times, and now I can finally answer it for her now that we've seen how the Bitcoin ETFs have worked out. The Fed wasn't ready for her Custodia Bank and stuff like that that she's doing. They weren't ready for that because they didn't have the rest of the infrastructure in place to allow for that to happen. She was way ahead of the curve, and rightly so she was way ahead of the curve but providing a market service that we need just not right then. Now that we have the structure in place, it's all going to be fine.
IUORIO, 4:55 So in a short answer, do you think we're past the point of no return for the governments to crack down and eliminate Bitcoin and all that bs?
Tom says that the threats to Bitcoin are not only done, but they were never serious, citing SHA-256.
LUONGO, 5:05 I never believed that in the first place because I never believed the DoD had the keys to SHA-256. If they did, then we have a bigger problem than f*** Bitcoin. The entire internet runs on SHA-256.
Luongo mentioned Tether, a market crypto currency that I'd never heard of. What caught my ear was this,
What liquefies the Bitcoin trade? What do we trade Bitcoin against? Nobody trades against the dollars. We trade against Tether. What is Tether? It's a $100 billion U.S. Treasury slush fund and it keeps rising in value. As Tether . . . Tether makes perfect sense to me now that Leticia James gave it the slap on the wrist and I think the Fed controls Tether. I think the Fed controls Tether. I think the Fed executed all the other stablecoins in order to have control over the Bitcoin trade in that respect and know that Tether is audited; they own a little bit of Bitcoin; they own a little bit of gold; they own about 85% in short-term treasuries.
Luongo has talked into a microphone for 5 plus hours today.
2:53. Ukraine funding. It looked for a while to me like it was dead in the water, that the Empire is I call it was starting to "put out the signs" that we are getting out. And then now, it's back. Another tens of billions of dollars. The Senate passed it, and it comes down to this new Speaker of the House. Is he going to hold the course? How do you see this playing out?
LUONGO, 3:24. It's always been that Project Ukraine is the only thing that Davos, the old European oligarchy, and the Anglosphere, the British/American Neoconservatives, agree on, but they agree on it for different reasons. Davos and the Neocons are not the same people; they are both globalists, but they are globalists of different stripes. So Joe Biden is not really Joe Biden: it's obviously Barack Obama's third term. They map to Davos. But at the same time, the State Department has empowered the Neocons, the State Department, and National Security Council to run Project Ukraine. Up to and including the moment where they could actually get to Russians to knuckle under, but the Russians aren't going to knuckle under. Davos wants Ukraine and the threat of the Russians as the boogeyman to push forward their own fiscal integration their own Ukraine funding their own political integration and everything else that has to do with the EU. That's what the article I wrote last week about the Euro bonds and all all that stuff that's what that was about "Why War Bonds Are Returning to Europe," Tom Luongo, so what's going on in the US well the Biden Administration again the upper end of it maps to Davos the National Security Council maps to the old mom they both want the money they want some money sent to Taiwan they want the money sent to Ukraine they want Humanity humanitarian Aid sent to Ukraine like $26, $27 billion worth. That's all money laundering to funnel liquidity into the failing German banks, like the Bundesbank is bankrupt at this point, right, the German Central Bank. So thanks to Powell and 5.5% interest rates, you can see the old guard up on the Senate, pushing this because they were told to push this as hard as possible. So McConnell, the last thing McConnell is going to do before he's moved out to pasture, is try to get this thing through is to cut the deal with Chuck Schumer for $95 billion that goes over to the House, and the minute they pass this thing they get Hakeem Jeffries, the Democrat from New York, to float the trial balloons they were going to go around the speaker Johnson who refuses to even bring the bill to the floor. And they were going to use some backdoor thing to go around the Speaker to force a vote on it, force it through, and Johnson said, "Ah, that's cute, two week recess."
LUONGO, 6:43. He gavels out a two-week recess. At the same time that that happened, another GOP member of the House floated a $66 billion version that stripped out all of the humanitarian aid and it was just all the military industrial complex, which yeah, that's just classic Washington pork at that point. It's not even Ukraine Aid at that point; it's just Washington pork. A lot of it's going to go to Raytheon and Lockheed Martin and General Dynamics. But none of the money needed to go to Ukraine to keep Ukraine solvent and in the fight nothing in this money is going to do it anything whatsoever other than being another kick in the can through various structures within Ukraine that are eventually going to wind up in the EU where everybody's pockets are back here, right?
LUONGO, 7:35. Johnson is doing exactly what he's supposed to be doing if you believe that he was put in place to stop this globalist wing of our old guard in our government and I believe that that's the case the people who put Johnson in power are the people who got rid of Kevin McCarthy Kevin McCarthy was put in place I mean he survived Kevin McCarthy survives 14 votes because Davos wanted him to be Speaker. And we were never going to get anything other than that, we were always going to get a traitor running the Congressional Delegation. Well, how do we get rid of him? How is this even going to happen, if there isn't some group of sovereigntists in the background going, "You know what, no, that's enough." This gets back to why I believe what the FED is doing what it's doing. The FED is trying to break the globalist class overseas by making dollars too expensive is the basic idea of the thesis. Everything else is just the mechanics of it, but that's the basic idea.
MULLEN, 8:48. Johnson was not the first choice of the people who wanted to get rid of McCarthy the first choice was Jim Jordan. What's your take on Johnson because when he first got in there? But you do believe that he's going to stand firm?
LUONGO, 9:20. The thing is is that everybody has to do this we all get that the hour is late, Sauron's forces are moving, right, Saron is breathing Orcs and goblins High and we're all in trouble and we got two Hobbits in the ring going south this is our Hail Mary will somebody please stand up and just be a hero? Do something. And the reality is it's never that simple. Like these guys are in very complicated positions where they say one thing and do something else. Don't know them by their words, know them by their actions. When Schumer and McConnell push this thing to Johnson's desk, and they start talking about subverting the Speaker to get the GOP delegation in the House to get rid of the Speaker, and the Speaker gavels out a two-week recess., what more do you want from the guy? And that finally gets a meeting with Joe Biden. It was that that got a meeting with Joe Biden? Joe Biden wouldn't even talk to Johnson for months; they wouldn't even speak. He couldn't get a meeting with the President, the Speaker of the House couldn't get a meeting with the president to discuss the border policy and $95 billion worth of foreign aid with a looming government shutdown and Biden wouldn't take his phone call? What planet do you people live on? Does Washington not function well of course you've got a whole bunch of people up on Capitol Hill taking orders at the point of a gun from a bunch of globalists overseas who always act this way. By the way, this kind of non-negotiable behavior is the hallmark of what the EU does every freaking time. Like you go up there you're going to talk to the European commission you make the case in front of them you show them who's in charge you do your thing the Yanis Varoufakis thing during the Greek debt crisis. He walks in, you got a plan to get us out of debt, here's how we're going to do it, blah, blah, blah. We worked it out, we want to work with you, we want to restructure the debt. It's a 45-minute song and dance routine. They're all sitting up there like the political bureau from USSR, and they go "Oh, that's nice," and then they look at you like you just sung the Swedish national anthem. And they just talk amongst themselves and they ignore you. This is the way our government has started acting. "Well, they're Republicans. We don't speak to them anymore." It's ridiculous clearly this is the non-negotiation tactic they always pull. "Nope we're in charge. You're going to do what we say, and we're going to ignore you until you do what we tell you to do."
LUONGO, 12:27. Johnson is clearly like, "Yeah, that's cute, but I'm Speaker of the House, I'm actually more powerful at this point then you are Joe Biden, because no one believes you're even freaking president. So yeah this bill is going to die." I don't know that it's going to die they've got to pass something the point is it's going to be a horse trade and that's fine you're not going to be able to stop it what he's trying to do is get money spent on the border anyone's $100 billion dollars in actual, honest to God, real spending cuts just to start out with. And this is a basically just a tip moment. And everybody on Capitol Hill knows it
the United States is now effectively for the first time ever in the history of the United States has a banking system that's independent of the city of London. I mean this goes all the way back to the Revolutionary War, the post-revolutionary. Where we were still so dependent upon trade with Britain that they effectively controlled our monetary policy, and, you know, it stayed that way all through the 1800s, all through . . . and then into the 1900s, and then we got their Central Bank model in 1913 . . . I just don't think anybody foresaw the United States finally being able to declare independence for real . . . --Tom Luongo
Global Finance Chess Game, Role of Gold
Tom Luongo joins us for an uncut, candid discussion on the global financial markets, FED policies, Janet Yellen & her role, and the role of gold in general. @TFL1728 does NOT hold back in this one!
11:00. Because the minute I saw that Powell started tightening liquidity, the first thing I said was "this is going to impact disproportionately Europe, and then when the sanction packages went on and Europe decided to go along with the massive sanctions against Russia, the gut of the international standing of the euro and now the Euro does not flow around the world the Euro had a chance to Dethrone the dollar as a global Reserve currency and they chose not to do so okay now it's not my problem because the reason that Mario draghi and Christine Lagarde did what they did at the ECB and what was then done is because they always thought that they would have control ofglobalUNd by having a globalist like yelling or Bernanke running the Fed they've got power in charge of the Fed never expected to get sofa installed here in the United States and get us off of Libor never expected any of this to happen that was never part of their plan that's why they're really angry with Donald Trump and actually they're not even really angry with Donald Trump they're angry with Steve mnuchin hanning Jerome Powell to Donald Trump and Trump making him Fed Chair and then putting John Williams in at the New York Fed to implement SOFR, and now that we have a domestic get indexing rate that's not dependent upon city of London, the United States is now effectively for the first time ever in the history of the United States has a banking system that's independent of the city of London. I mean this goes all the way back to the Revolutionary War the post-revolutionary. Where we were still so dependent upon trade with Britain that they effectively controlled our monetary policy, and, you know, it stayed that way all through the 1800s, all through . . . and then into the 1900s, and then we got their Central Bank model in 1913 and this is all part of the plan now. I just don't think anybody foresaw the United States finally being able to declare independence for real, and that means of course that I'm implying that the people who are behind this policy are also anti-imperial and that they also want to destroy it, take down the American Empire, as well. Now that's being fought tooth and claw by the political class. That's the macro picture. If you want to understand what's happening in the bond markets, in the oil markets, in the gold markets, in all of these markets, this is the fight, this is the war that's being fought over who's going to control the global financial system after the crash. And Powell is setting things up to have the United States weather through the crash. I don't see Christine Lagarde doing that. I see her doubling down on the stuff that didn't work. Why? Because Christine Lagarde is not a banker, she's never managed money; she's a lawyer, and she's a political appointee who's been told to run the Gantt chart of the project. She's a project manager is the best way to describe people like her and Ursula von der Leyen and the rest of them, and to a lesser extent Chuck Schumer and Mitch McConnell and all the rest of them here in the United States. Just project managers and there's a big project, and it's called globalism or "Minority Report with more Germans." It's a UN-run global government with Central Bank digital currencies, and, you know, living in pods, and all the rest of it. That's their project. They just get up every day and operate what's on the Gantt chart, and say, okay this is what we're supposed to do today, this is what we're supposed to say. And when you see someone like Bruno Le Maire come out the other day and lament,
"What is going on, why haven't we seized the $35 [bil lion]here the savings within Continental Europe to pay for climate change? That was already supposed to be done by now. Why have we not done this?"
This is the classic example of an IQ 105 midwit that was designed, that was put in power to run as a project manager and was wondering, like, "Where's the leadership? What happened here?" Like you can see it everywhere.
15:15. The better metaphor is that they're the flying monkeys and the Wicked Witch of the West is now dead. So, Kissinger's dead. Jacob Rothschild just died this morning. Brzezinski is dead. The guys who built the Club of Rome, they're all dead, like everybody who put the system in place, who put this agenda in place they're all dead. They were smart enough to build the agenda, but they put lieutenants in place that are just smart enough to run the agenda but not understand how the agenda works. So therefore it's like a big production line that's missing critical parts, and you can't move the production line forward. What we're seeing and the thing is lurching to a halt and what you're seeing at this point is them complaining that they don't have enough bolts to mount the doors on the truck that they're trying to build, or whatever metaphor you want to use, and they don't know what else to do. So they get up in the morning and they keep doing what they're supposed to do: they introduce laws and bills that are never going to be implemented; they continue to try and ban gas stoves here in the United States; they continue to push funding for Ukraine out the door, because they need to push the liquidity into the German banking system to keep it from collapsing. These are their plans, and they still think that they can force Powell, and they try to improvise by trying to force Powell off of his "higher for longer" stance, and then the economic data keeps coming back slightly better than expected which gives Powell all the ammunition he needs to go, "You know what? It's still too early to talk about cutting rates."
16:57 I've now got on my board about a coin flip for a rate hike in the second half of this year, okay? I came into this video I came into the year saying, "Yeah, probably 3 rate hikes--rate cuts in the second half of the year, one of my predictions for this year. I was saying no recession officially until 2024, which I don't think we're going to get; there's just too much money floating around. Joseph Wang agrees with me, and he understands the flow, the interplay of flow, far better than I do, far better than I do. I mean I made that prediction, then I read his work, and I'm like, "Oh, cool! Somebody else agrees with me." I'm just saying that you know somebody who knows more of this than I do is saying the same things that I am I'm actually appealing not to my authority but to his
17:48. And we have that, that was my one base case, and then the second base case was that I never thought that Powell was going to cut before the beginning of Q3.
@ the 12:00 mark, Tom explains that it was Steve Mnuchin who handed Jerome Powell to Donald Trump. Interesting. Which pissed off the globalists.
The circus in New York, the amount of money they're asking Donald Trump with no victim, and what this says about where our country stands right now.
It's clearly a fraudulent case about fraud that didn't occur right? Why did they do this? It pushes so many little things forward the core thesis is that these people are trying to destroy all of the institutions that make up the United States, political, judicial, economic, all of it, right? But at the same time, they don't know when to stop. The men who architected this whole idea of global governance, they're all dead now the Kissingers, the Brzezinskis, and all that's left are the IQ 105 midwits to run the system, and they're just smart enough to run machines but they're not smart enough to know how they work. Like your average person who drives an automatic transmission but has no idea that there are gears in that transmission, or that this is how a car works, or can change a tire, or even understands that there's oil in the engine or anything along those lines. They just do what they've been told. The Wicked Witch of the West is dead, and the flying monkeys running around doing random stuff. I talked about this in 2018 when I wrote an article talking about the whole theme and I think it's more apropos today than it was then. So this guy Arthur Engoron, whatever his name is, said "Hey, this is an opportunity," and Leticia James they think that this is the right thing to do. These people don't know how to play chess. They don't know how to think more than one move ahead. They're not supposed to think more than one move ahead. Even if they're not malicious, and they're being blackmailed or whatever to do what they're supposed to do. I'm being generous here. Even if they are just coerced into acting this way, you have to ask yourself, why? This thing is insane and it's dumb, and it'll get reversed on appeal, because immediately Kathy Hochul, the mayor of New York, comes out looking like she just saw a ghost, and says "Don't take this to heart. We're not going to do this . . . . This is the only . . . ." No, you set the precedent, stupid woman. Once you start going down that path it's not going to stop it it has to be taken care of she clearly got a call from what's left of Wall Street in New York because they're all moving to Miami and Dallas anyway because New York is literally a thing it's rapidly becoming a museum or a failed State somebody still thinks that this is a good idea this is clearly one of those things that is going to propel us towards some kind of Civil War. And then I get a text from this friend of mine about this video from Chicago Ray, the trucker.
Huh. So what have I been saying for a little over a year now? People aren't sheep; they've been comfortable wolves. Well, the truckers in America are pretty uncomfortable and they've reached their limit. At the end of the day, these people really think that we are all price-takers for their insanity, and we are not. We don't have to. The truckers are like,
"You know what? I got a toilet to deliver into Paducah, Iowa, or Illinois, and that guy needs a toilet. I don't have time to go to New York."
"But we'll pay you three times the normal rate."
"I don't care. I'm delivering the toilet in an empty 18-wheeler back to that guy.
See, that's what's going to happen here. This is the kind of soft secession, however, you want to put it, that is the best possible way to remind everybody that New York City . . . do you have any idea what kind of volume and people and freight that have to go into the city every day just to make it function?
Spoke to a lawyer earlier about this.... thinking of forcing a retraction from Fox News for this misinterpretation, since i never walked anything back and didn't call for a New York City boycott... what say you #Truckers4Trump 🇺🇸 I Stand With Trump 💯% pic.twitter.com/lDmi3snvJo
MEL, 5:45. It's not easy to get an 18-wheeler into midtown.
LUONGO, 5:53. That's one, and then two, Chicago Ray spoke to that. It gets even worse than that. What are you going to do? Let's say half of the truckers say no to delivering to New York. The other half will sit back and say, "Cool. I can ask whatever price I want now." Now the price of everything in New York triples. And they say "Okay, well that's not going to work, we'll use the trains. Do you have any idea how many people take the commuter trains? You can either bring the people in, or you can bring the goods in on the train, but you can't bring both. So you can either have an economy to pay for the food or you can have the food but you can't have both.
MEL, 6:40. Also, during the lockdowns, people were acting like lunatics because they couldn't get food to the supermarkets. I mean it was pandemonium. Think about that in terms of what you've just described. Another thing about New York City at that time, you're talking about jacking up prices, for trucks at that time if you wanted to leave New York City and get a U-Haul, there was like a 3-month wait. And they were charging $10,000 for something that would normally cost $1,200. So New York is uniquely vulnerable these strategic kinds of boycotts or work-outs or whatever around the country would be a great way for this to go forward. The scary part is that we have a 4th branch of the government that has no oversight is not functioning in any way or has anything to do with the Constitution or the Bill of Rights we have three branches of government but after 9/11 and the Patriot Act appears that now we have four branches of government with all these new agencies that no one should have allowed I'm a big proponent of having the Patriot Act repealed, of course, it's the worst thing that happened to our country but it appears to be double and tripled down on under Obama and it continued down the road but this branch of the government that shouldn't exist the Intel agency branch DHS, DSA, DNI, it appears that they've taken over the other three branches of government, and this to me is the most dangerous thing we have going right now. They have no limiting principle on these agencies most of the surveillance tapes that are coming out of the January 6th trials that Obama and Eric Holder turned out to be a branch underneath a branch of Obama and Eric Holder created a National Security Division at the DoJ that nobody seems to know exist. So what can we do on that?
LUONGO, 9:06. I get your concern. The thing from the [Robert] Hur Report, they knew in 2017 that Joe Biden wasn't capable of being president. So clearly our alphabet agencies decided this is who is going to be president; then they knew he was going to be president because they effectively rigged the election. Now you're starting to ask yourself, "What country do we actually live in?" That's the state of play, and I think we all consciously understood that that has been the state of play for quite a long time the question is not how do you stop them the bigger question is do we actually have any power left? Their goal is to demoralize us into believing that we don't have any power and when you stop to really think about what the truckers are saying about New York City is, we do. Mao was wrong, folks. Political power does not end at the barrel of a gun. It ends with the guys who make sure that the ammunition can be produced in the first place. That's what this represents we are this system that feeds their control system we say no and now I'm going to get a little Ayn Randian on you. If we say no, we're just not going to trade with you anymore. We are not going to do any work for you anymore. People forge. The 1st Amendment is freedom of association. People forget that freedom of association is also freedom from association.
LUONGO, 11:07. And you'll note that at every moment when there is an opportunity for them to remind us why It is they think we cannot be free from associating with them, and they can Lord it over somebody small, like a bakery in Colorado, that they get their way because they can force, they can create an edict, or a law, or whatever, even if you don't want to, to say, you know what, you have to bake that cake for that gay couple.
