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Old 11-25-22, 04:51 PM   #271
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Originally Posted by mapuc View Post
Thank you for posting these pages-However they are unreadable either they are upside down and each of them are so small that it's impossible to read.

I search for these book at google books no success- I discovered that they are available at my favorite online book store-Both book that is.

Markus
Click on them, they zoom up, correctly formatted.


------------------


One book also is available in English now:


https://www.amazon.com/-/de/dp/B07JQ...s%2C171&sr=8-2
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Old 11-26-22, 12:10 PM   #272
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--------------
USA takes Germany to task - and Habeck our industry

The Americans are shaking up the international market for new technologies with billions in subsidies. The German economy is also suffering as a result. Minister Robert Habeck announces that politics will now interfere more in the free market.

The German economy is caught in a dangerous pincer movement. The crazy thing is that both arms of the pincers are not being moved by Russians or Chinese, but by Americans who are apparently determined to organize their future prosperity at the expense of Chinese and Europeans.

Trump left, his motto remained: America First

Because one does not want to celebrate this exaltation of one's own nation - especially under a Democratic president - so clearly, American security interests on the one hand and the fight against inflation on the other are cited as reasons for going it alone.

The pincers consist of two very different legs:

1. the American Inflation Reduction Act (IRA) is ostensibly aimed at lowering inflation in the United States. In reality, however, it is a gigantic subsidy program in favor of new technologies.

The legislative package provides for spending of $369 billion over the next ten years on energy security and climate change programs, putting European industry under pressure. Leave or stay? According to France's Finance Minister Bruno Le Maire, in some cases the subsidies offered by the U.S. government are four to ten times the maximum government support allowed by the EU Commission.

We are learning: It says inflation control on it, but there is industrial policy inside. The USA wants to strengthen its industrial base again.

On the one hand, the sanctions imposed by the U.S. government on China's semiconductor industry are putting pressure on the Middle Kingdom. Since the beginning of October, Washington has been restricting the export of production technologies that are needed to build up China's own chip production. US manufacturers Nvidia and AMD must now obtain government approval for exports of selected semiconductors.

Research and development and maintenance of existing Chinese semiconductor production are also being hampered. In a big way, this is about slowing down China's technological catch-up in self-driving cars, 5G Internet to cloud services and artificial intelligence.

Americans put Europe's industry under pressure

Not entirely coincidentally, German industry is also suffering from the restrictions. Chinese manufacturers account for one-fifth of the global semiconductor industry, and their customers and suppliers from Europe are being urged to follow U.S. policy. Holland-based ASML, for example, has been pressured "by U.S. officials," according to Bloomberg, to stop selling selected chip-making machinery to China. Alan Estevez, the undersecretary of state for industry and security, among others, will travel to the Netherlands later this month to discuss export controls with the government there, according to Bloomberg.

Meanwhile, the U.S. is positioning itself as a friendly alternative: the export freeze came two months after U.S. President Joe Biden signed the so-called CHIPS Act. 280 billion US dollars will be invested from the treasury to boost semiconductor production on American soil. European companies are also invited to invest.

And how are business and politics in Germany reacting to this?

Scholz announces changes in China policy

Contradictory.

In the case of U.S. billions in subsidies under the IRA, Economics Minister Robert Habeck has woken up with a time lag.

"Protectionism paralyzes innovation. It's not so much about losing our industrial heart, but about the risk that the next wave of technological innovation will not take place in Europe. Because the IRA takes care of the cool new stuff."

In the U.S. push against China, however, German industry stands alone. Habeck and Scholz are pursuing a so-called de-risking strategy. For the chancellor, business as usual is no longer an option vis-à-vis China. He clarifies, "If China changes, our dealings with China must also change. "

The head of the Federation of German Industries (BDI), Siegfried Russwurm, vigorously rejects considerations of turning away from the Chinese market. "I see no reason why we should sell less to China. "
The head of the industry association BDI, Siegfried Russwurm, vigorously rejects considerations for turning away from the Chinese market.
dpa The head of the industry association BDI, Siegfried Russwurm, vigorously rejects the considerations for a turn away from the Chinese market.


VW and BASF are splurging on investments in China

His member companies are putting pressure on him to dare to dance with the Americans and, if necessary, with his own hitherto intransigent government:

- Volkswagen subsidiary Traton, for example, is expanding its business in China regardless of U.S. policy on China. A truck plant is currently being built in Rugao near Shanghai, which will start production as early as 2025. The SPD and IG Metall sides on the supervisory board have agreed.

- BASF CEO Martin Brudermüller also defends his €10 billion investment in Zhanjiang. The plant is to produce 60,000 metric tons of engineering plastics annually for customers in China. He advises realism: "I think it's urgent that we get away from China-bashing and take a somewhat self-critical look at ourselves."

- Overall, German companies invested more than ten billion euros in China in the first half of 2022, according to the German Institute for Economic Research - a record high.

- After the U.S., China is the second-largest export market for the German economy. German industry mainly sells cars and industrial equipment there. German mechanical and plant engineering from Baden-Württemberg is particularly affected.
Habeck announces greater political interference in free market

With the U.S. - its economic interests and its representation in the White House - the German economy has a powerful, because assertive opponent before its chest this time. The concept of "managed trade," which has been propagated by left-wing U.S. Democrats for years, has replaced the old free trade doctrine in Washington.

German business cannot count unconditionally on the Green Minister of Economics in its fight for open markets. As Habeck explained yesterday in Paris, the politicization of trade relations is exactly in line with his ideas: "The phase in which many thought that markets should rule and politics should stay out of it is definitely over. That idea was already wrong before."

----------------------------

Thats why I said before that Biden is better - for America and Amerians - than many want to give him credit for. Like Trump, in economics he is quite adamant on "America first". Europe dreamt of a good and well-meaning "uncle" - what it got instead was an economic powerplayer not any less determined to push american goals even at European costs than his predecessor pushed his personal interests. For many European governments and the EU, this came quite unexpected - and unwelcomed.

Not that it would stop the Germans from maximising further the challenges they load on their shoulders needlessly all by themselves, of course. As long as Germany still exist as a national entity, many in Berlin will not be satisfied, especially in the Green and left parties.

Mind you, German economy minister Habeck said one or two years before he became minister, that he has no use for any kind of national pride, and that he finds "patriotism pretty much to vomit" (original quote). That such a person knows no hesitation even when his political actions lead to serious damage to the country's livelihood is thus no longer a miracle, but downright logical. When Habeck took the oath of office, he basically committed perjury, as did a number of other ministers besides him. In the meantime, a whole series of his lies have been documented, and he has also been convicted of lying when he claimed that he had the continued operation of the remaining three nuclear power plants examined impartially and openly in his ministry. There are about 160 documents proving that he did exactly the opposite and gave the instruction on day one that any analysis work had to come to the conclusion that the three power plants were not needed. The wanted results of the ministry's "assessment" were already commanded from beginning on.
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Old 12-07-22, 08:53 AM   #273
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Wall Street Chorus Grows Louder Warning That 2023 Will Be Ugly

https://www.bnnbloomberg.ca/wall-str...ugly-1.1855686

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(Bloomberg) -- In the Federal Reserve’s quiet period before its officials meet to decide their final actions this year, Wall Street watchers are filling the void, loudly warning that next year’s outlook for the US economy and stocks is grim.

From Goldman Sachs Group Inc.’s David Solomon caution that the economy faces “bumpy times ahead,” to JPMorgan Chase & Co.’s Jamie Dimon grimmer view that this would be a “mild to hard recession,” and Morgan Stanley Wealth Management’s Lisa Shalett, who told Bloomberg Television that corporations are facing a “rude awakening” on earnings, the messages have become increasingly dire.
“We do not think the economic conditions for a sustained upturn are yet in place,” Mark Haefele, chief investment officer at UBS Global Wealth Management, wrote in a note. “Growth is slowing and central banks are still raising rates.”

Investors appear to be heeding the warnings. Following a two-month rally, the S&P 500 Index has fallen in all but one of the last eight sessions and dropped 1.4% on Tuesday. Equity strategists, historically the market’s biggest cheerleaders, are now predicting a down year in 2023. And the red flags are being waved in the wake of wage and services data that suggested inflationary forces still grip the economy.
The charts aren’t helping, either. Whenever the benchmark S&P 500 is lower by 15% or worse in a year through November, December is usually much weaker, according to BTIG’s Jonathan Krinsky. From January to November, the benchmark index had seen a 19% drawdown, with the gauge giving up its ground to close back below its 200-day moving average Monday.

One of Wall Street’s biggest bears, Morgan Stanley strategist Michael Wilson, backed away from a recent call that the markets recovery could last into December to say that “we are now sellers again” as he and his colleagues expect the S&P 500 to resume declines.
Layoffs are also adding to the gloom. On Tuesday, Morgan Stanley announced that it will reduce its global workforce by about 2,000 ahead of a potential US recession, while Bank of America Corp. said it was slowing hiring.

Tech companies have already been slashing their workforces by the thousands. From Twitter Inc. to Meta Platforms Inc. to Amazon.com Inc., corporations are trimming staff and slowing hiring as they grapple with higher interest rates and a pullback in consumer spending.

Read more: Burned Stock Pundits Ditch Two Decades of Unbroken Bullishness

Yet there are those, including Charles Schwab & Co.’s Liz Ann Sonders, who think the economy will improve in the latter half of next year. After all, there has been growing evidence that inflation is easing and the labor market is cooling, fueling market optimism.

“We have to take our medicine still, meaning a weaker economy and a weaker labor market. The question is, is it better to take our medicine sooner or later? And I think sooner,” the firm’s chief investment strategist said by phone. “The outlook is better for the latter part of 2023. The risk to that view would be if for whatever reason the economy continues to run really hot and the Fed has to really slam on the brakes.”

--With assistance from Vildana Hajric.
(Updates with Tuesday’s close in fourth paragraph)
©2022 Bloomberg L.P.
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Old 01-12-23, 08:43 PM   #274
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Old 01-15-23, 08:58 AM   #275
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Are we facing an economical Armageddon ?

Quote:
Following the passage of a new House rules package on Monday and with Donald Trump urging House Republicans to “play tough” on raising the federal debt limit, Democrats are warning of a chaotic 118th Congress that could see the government cease to function normally.

https://www.theguardian.com/us-news/...ss-republicans

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Old 01-15-23, 11:23 AM   #276
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Originally Posted by Skybird View Post
If you do not buy something you need now or in the next months you will not be able to buy anything due to the prices exploding.
You think a "Balkonkraftwerk" or a power generator will be cheaper or even affordable after the next 12 months?
Just because all stop buying? How can they?

The only ones profiting from such videos and doom and gloom news are investors and reinvestors.
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Old 01-15-23, 12:50 PM   #277
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You know that there is depth beyiodn the surface, so i recommnend you jump into it and go deeper. Its abotu the consequences of a misleading understanding of what inflation ctually is. Governments lie to us all the time abitzu it. Banks lie about. In bflation is NOT rising prices as a cause for the probeoms following in its wake, but ionflation is a wanted rise of currency supplky decided ion yb govenrments - the price later rise as a conseqeunces of that onyl, they are not the cause, they are a follow on symptom.

Thats why I indicated so often that we all sit much deeper in the poop than most people realise. And there is no easy way out. All those bailout packages and government aid packages only delay the meltdown - and the cost of having that meltdown later becoming even more catastrophic and hurtful. Or our society being "freed" of even more liberties and freedoms when the government decides the meltdown is accptable to be countered by ever growing planned economy and thus totalitarian state control of ecnomy, and in the end: civil society. That way, the country and eocnoym turn into pressur ecookers inside which the pressure nevertheless soone ror later get too high, and then it goes all off. That when states explode and economies collapse, and the real nasty and physically violent things begin to happen: wars.

We are stuck much, much deeper in the poop than anbody wants to realise.

I see no way out, in the long run. None. Only a finite number of further attempts to delay - but no escapes.


The whole governmental propaganda and media apparatus day in day out focusses on hammering home a totally wrong understanding of what inflation is. This is so that people do not realise to what monstrous degrees governments and parties have become guilty or are derailing the fundaments of society and economy for their bids to power and parties' own self-interests.

"Die politischen Parteien haben sich den Staat zur Beute gemacht." - Richard von Weizsäcker. I wonder if he even was fully aware of how far reachingly true his statement in reality is. Its truth reaches far beyond the context of that speech that he spoke this sentence in.

Its a self-created maelstrom, and it crushes us, drowns us. Nobody is to be blamed than ourselves.


I would, if I wouldn't already have done so, go from paper stuff into real material values. Preferrably those the state cannot easily plunder. The state can always plunder everything but we should not make it too easy and invitngly. Hide, and keep a low profile. Either your reserves will be sufficient to hold out, or they aren't. You find out soon enough. "Investing" currently is just a lottery, and more fraudsters and foul-tongued liars are on the street than usually. Watch out. Beware. Be on your guard. Gambling, and investing, are not the same.
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Old 01-15-23, 04:16 PM   #278
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I get it with fiat money, but since we cannot do anything about it.. money is being made out of nothing regardless what you or i think.
But thinking in short terms your money is more worth now than it will be in a year.
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Old 01-16-23, 08:05 AM   #279
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The greatets raid in human history. The greatest terorrist attack on the freedom of Western liberal social orders. Ultimately these terrorists want to turn the West into a copy of the Chinese dictatorship model.

And quite some of you guys even vote for these criminals...!? Note that they are sitting in practically every party you can vote for, left and right, conservative an progressive.

Already Marx knew it. If you want to destroy the liberal basic order of burgeoise society, destroy its money system.

Remember the comical society depicted in that comedy with Stallone, Demolition Man? The sterile health guru as president who by the best-sounding excuses had established a de facto dictorship? - Stop laughing. This nonsense is about to come true.And we let it happen, not resisting at all.

When I feed my bank account by paying in enough money in cash so that the bills get paid for the next two or three years, I get treated like a criminal. I get questioned, must wage a paper war, must file evidence for my legal possession of that money, and a criminal investigation gets started because the bank is obligated to report me to a federal office checking such payments. The worst and really worrying about this, is this:the burden of proof has been reversed, the principle of "when in doubt, give the accused the benefit of the doubt" no longer applies. I am guilty from the beginning as long as I have not proven my innocence according to arbitrary and constantly changing rules that my enemy - the state - has arbitrarily set and changes at will to force my submission to its claim to power and ownership of my person and labor.

In ancient China there was a very perfidious and torturous method of execution, they had many of them and modern China still lives on this today (I once read a whole book about Chinese execution methods, after that I was just sick to my stomach for days). The deliquent was tied to the floor so that he was incapable of any movement and fidgeting, then a fragrant oil-soaked gauzy silk cloth was placed on his face. After a while, another pleasantly scented oil-soaked silk cloth was placed on top of it, and about a minute later, another oil-soaked gossamer silk cloth was placed on top of it. The intention was to slowly suffocate the victim to death and at the same time save face by presenting the victim's complete inability to move or wriggle as proof that everything was quite civilized and peaceful. Was it not gossamer-thin precious silk that was used? Wasn't it expensive, pleasant-smelling perfumed oil that was used to smother the pores of the fabric? Didn't they do everything to make the victim comfortable and to treat him with dignity?

The incarnation of absolute wickedness.
This is exactly what our politicians and central bankers and social engineers and do-gooders are doing to all of us today. Only that we are not tied to the ground.

We imbeciles remain voluntarily still.

Because we are well-behaved, civilized. Our freedom is robbed from us, with violence and insidiousness. The motive is the lowest imaginable: the enforcement of dictatorship and submission. We keep silent and parry, hoping that things will not get worse all by themselves.

They will get worse. And we deserve it because we are lazy and comfortable and cowardly.

Sometime in the second half of this century, it will be hard to distinguish the dictatorship in Europe and probably America from the dictatorship in China. Rejoice and be glad - that is because we did not want to fight back effectively and allowed it . We console ourselves with the fact that it happened for a good cause.

Shame on all of us.

FOCUS:
-----------------------


This is the real reason why cash should be abolished

For years, there has been a fight against cash. Of course, this is always done with the argument that it is used to pursue higher and more honorable goals, such as money laundering, crime and tax evasion. The first companies, such as the technology retailer Gravis, are already no longer accepting cash.

Bit by bit, this salami tactic is being used to make cash useless and at the same time take it away from us - often unnoticed by the general public. Or did you know that our federal government has been investing millions of taxpayers' money in the abolition of cash for years? Yes, I was also gobsmacked when I researched this.

But first things first: in 2019, the 500-euro bill was shelved in order to stop money laundering and tax evasion. The hoped-for success failed to materialize, and to this day no empirical evidence of containment has been demonstrated. Even the Bundesbank had to admit that this action was a set of x's - only 20 percent of the bills in circulation have been returned since then.

In parallel, within only two years, the amount for anonymous table transactions (acquisition of precious metals, gems, etc. without registration) was reduced from 15,000 euros to 2000 euros. In my opinion, it is only a matter of time before this window is closed completely.

The next attack took place during the Corona crisis: In the beginning, cash was considered dangerous for a while because it was defamed as a virus carrier, which of course was absolute humbug. Nevertheless, to this day we see stickers advertising secure contactless payment.

EU-wide cash cap coming

But that's not all: In December, Brussels agreed on an EU-wide cash ceiling of 10,000 euros. If German Interior Minister Nancy Faeser had had her way, a cash ceiling of well under 1,000 euros would have been implemented. Here again, the Deutsche Bundesbank drives a clear contradiction into the path of the EU and the German government:

"So far, there is no scientifically sound evidence that cash caps achieve the goal of combating money laundering." This is also shown by experience in countries where payments with bills and coins are already limited to certain amounts, he said. "I therefore consider a cash payment cap to be misguided," said Johannes Beermann, member of the Deutsche Bundesbank's Executive Board.

At the same time, the German government has taken all citizens into custody under the guise of the Sanctions Enforcement Act (which is intended to make life difficult for Russian oligarchs and, as always, of course, to combat money laundering). Because the new section 16a in the Money Laundering Act (GWG) prohibits paying for real estate, land, houses and apartments in cash, gold or cryptocurrencies.

You see: Cash is under attack on many fronts. And if cash were to be abolished, it would have a number of disadvantages for us citizens.

Digital money = digital dictatorship

Only about two percent of the money supply exists in the form of bills and coins. Or to put it another way: only one in fifty euros. If only five or ten percent of Europeans were to withdraw their money from the bank, the house of cards would collapse and most would be left without money. Cashless payment is becoming increasingly popular in times of credit cards, Apple Pay, Paypal and the like. More than 90 percent of all payments are made by debit and credit card or bank transfer/direct debit. De facto, we already have a digital euro. So why is the ECB pushing so hard to introduce a digital euro in the form of a CBDC (Central Bank Digital Currency) for the Eurosystem?

Short answer: it's about control.

All transfers and transactions, whether private or commercial, are collected by banks and executed once a day in the banking system between institutions. What customers spend their money on is currently only seen by the banks. Passing on the transactions to the ECB or other parties is not possible and prohibited for several reasons. A CBDC would solve this problem permanently. Then every citizen in the EU would have a digital account (wallet) directly with the ECB - and the ECB would thus have a complete overview in real time.

Of course, the central banks will charmingly pull out all the stops to make this brave new world palatable to us: Payments will then be secure, convenient, hygienic, contactless, more efficient, cheaper and faster.

But the price would be high, because every customer and every transaction would then be completely transparent and traceable. A digital currency can provide countless data on the payment flows and user behavior of citizens. One could conveniently link the wallets with, for example, the vaccination certificate as well as other data. And then we have the truly transparent customer.

The threat of Orwellian surveillance

To take this provocatively further: In order to save the climate and educate us to be better people, we could then also install a Co2 credit account. Whoever then uses up his Co2 credit because he travels too much or drives a car, eats meat instead of bugs or highly processed meat substitutes, must pay or even starve. These are the wet dreams of the secret services and the nightmare George Orwell warned us about.

Another risk: In addition to Orwellian surveillance, interest rates could easily be lowered into negative territory without citizens being able to withdraw money from the bank and escape the negative interest rate. A bank run would thus be impossible in the future.

Penalty interest or a wealth levy could be used quickly and efficiently, and collected from every account without anyone being able to fight it. Likewise parking tickets, the broadcasting fee, etc. How convenient! Even an account freeze would be possible at any time by the centralist ECB. Just as it is now with the great role model China.

Digital dictatorship under a cloak

Speaking of China, the icing on the cake could be the installation of a social credit program. A centrally controlled digital money, coupled with the social credit system, is the perfect (and perfidious) solution for keeping one's own citizens in check, controlling them at all times and punishing them if they don't play by the rules. Whoever then steps out of line gets sanctions in the form of withdrawal limits or account blocking in addition to the deduction of social credit points. The digital dictatorship under the mantle of climate neutrality, solidarity and justice is complete.

But consumption could also be controlled. In China, people are thinking about fading money. The credit expires after a certain time in order to stimulate the economy. On the other hand, payments could be limited or even blocked on certain goods. Just the way a centralized institution would like it.

The ECB wants to introduce the digital euro by 2024/25. Globally, all central banks are working flat out on digital currencies because the advantages for them are obvious. The bottom line is that a digital euro is nothing more than the unbacked fiat money system, which is 100 percent digitalized. For us citizens, it only has disadvantages because we can then be easily monitored and expropriated. Negative interest rates can be installed without us being able to protect ourselves from this. Because in such a case, the escape route is blocked, namely withdrawing cash, taking it out of the banking circuit and thus legally removing it from the surveillance and access of the states.

So you can see why preserving cash is so important for anonymity, freedom and democracy.

Cash is freedom

But this freedom has been under fire from all sides for years. Not only are states and central banks attacking cash, but so are organizations like the Better Than Cash Alliance , a global association of governments, businesses and international organizations that want to accelerate the transition of cash to digital payments. Members include - unsurprisingly! - credit card giants Visa and Mastercard, Citibank, but also the Bill and Melinda Gates Foundation. What I find exciting is the finding of my research, already mentioned at the beginning: the Anti-Cash Alliance has received German taxpayer money from our federal government. From 2016 to 2018 it was 500,000 euros and since 2019 it has been 200,000 euros annually.

The trend is clear: The abolition of cash is taking place quietly and insidiously. At the beginning of the year, Lufthansa announced that it would only accept cashless payments at its service points. Almost at the same time, the technology chain Gravis, with its 40 stores, announced that it would no longer accept cash with immediate effect.

The fact is: Only cash guarantees ownership and title to one's assets. Money on the account does not belong to you, but to the bank. In addition I made several important videos. Cash is and remains printed freedom! It is and remains the only legal tender according to the statutes of the ECB: "Euro banknotes and coins are legal tender in the euro area. Cash is the only form of central bank money that we can all use directly."

Even in the event of a blackout, cash will be the only official means of payment that still works.

Despite my passionate plea for cash, however, I must also mention that our current monetary system is not sustainable. For unbacked paper money (fiat money) will, as it always has throughout history, continue to lose purchasing power and ultimately fail. Especially the dysfunctional currency experiment Euro . This is why an independent, decentralized, borderless, non-manipulable and deflationary system like Bitcoin is so brilliant and important. For me it is and remains the only alternative for a better monetary system.
----------------------


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Old 02-02-23, 06:37 PM   #280
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Printing money - literally.

https://www.bbc.com/news/world-latin-america-64507085
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Old 02-03-23, 03:20 PM   #281
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Just been notified of a half a percent rise in my bank account savings rate
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Old 02-08-23, 05:21 AM   #282
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FOCUS on sanctions:
-----------------------


Why the US sanctions are not hitting Putin or Xi - but us

Someone in Washington has pressed the "replay" button. We hear the grim echo of history. For the intellectual basis of today's sanctions policy - which imposes punitive tariffs on rivals and punishes them with trade bans - comes from Woodrow Wilson.

As early as 1910, the then US president recommended economic warfare as the ultimate: "A nation that is comprehensively boycotted has no choice but to surrender. Thanks to this economic, peaceful, silent, but nevertheless deadly medicine, the use of armed forces is no longer necessary."

The belief in the omnipotence of economic sanctions persists to this day. When US Treasury Secretary Steven Mnuchin was asked in 2019 what the US would do about a Turkey that allowed the Kurdish minority to be killed in Syria, he replied, "We can shut down the Turkish economy."

That's what Trump thought. That's what Biden thinks. So thinks Economics Minister Robert Habeck, who is in Washington today. But they are all united in error. The fact is:

Nations resist.

Sanctions fail.

The outcasts forge alliances among themselves.

Take Cuba, for example: to this day, the Caribbean state has not allowed itself to be impressed either by military infiltration or by punitive economic measures. On the contrary: Castro offered his island to the Soviets as a launching pad for nuclear missiles. The former German ambassador to Cuba, Bernd Wulffen, said only recently: "Harsh language or even economic sanctions lead to cementing the bunker mentality in Cuba."

Take Iran, for example: the Islamic Republic, which is hostile to the USA, has reorganised its supply chains and is now in the economic prime of its time. The gross national product has doubled in only three years and, according to an IMF projection, will increase by another twenty percent from 2023 to 2027. The construction of its own atomic bomb is also close to completion, according to all Western experts.

Take Russia, for example: within a very short time, Putin was able to circumvent the sanctions and acquire new import and export partners. The whole world is keen on Russian oil and gas. The world's largest democracy - India - is taking the place of the small German democracy as the buyer of the fossil product range. For 2024, the Russian Federation expects - according to the current forecast of the International Monetary Fund - an economic growth of 2.1 per cent, which is considerably higher than that of the Federal Republic of Germany with 1.4 per cent.

Example China: The US sanctions are the most important driver in the emergence of a Chinese domestic market. Its consumer base exceeds the American domestic market threefold. Under the pressure of Western sanctions, China has formed a powerful economic alliance with Russia, India, Iran and Turkey.

Why is this important?

Because America refuses to acknowledge this inconvenient truth - and is driving itself and its partners into a veritable sanctions frenzy. Agathe Demarais, director of the Economist Intelligence Unit in London, the analysis institute of the Economist, has precisely recorded the increase in sanctions:

US President George W. Bush issued 3484 sanctions against companies, individuals, nations and organisation in eight years
President Donald Trump launched around 3900 sanctions against the same group of people between 2017 and 2020. That was four sanctions per working day.
When Joe Biden took office, the pace increased enormously. Today, the US operates 70 different sanctions programmes out of the Treasury Department, affecting 9000 nations, individuals, states and organisations. In her book "Backfire", Agathe Demarais speaks of "sanction overkill".

Why is this dangerous for German and European companies in particular?

Because the USA has discovered that sanctions may not work on its opponents, but they are all the more effective in the camp of its own friends and economic partners. They are forced to end their hitherto successful economic relations - e.g. with Cuba, Iran, Russia and China - and are pushed to the side of the Americans.

A sanctions monopoly is created that pushes market forces aside. In the absence of alternatives, Germans, French and other NATO countries now buy from the USA, of necessity also expensive liquid gas.

With the threat that the sanction-breaker will be excluded from the US market, political friends are turned into willing trading partners. And if the friend is not willing, fiscal force is used, as Agathe Demarais has researched:

From 2009 to today, American companies have had to pay only 300 million dollars in fines, while other countries have paid a total of 4 billion.
A foreign company pays an average of 139 million US dollars for violating the sanctions regime, while a US company pays an average of only 2 million, 70 times less.

We summarise: Those who are supposed to be hit are not. But the political friends and partners suffer because their previous business is made more expensive, more complicated or impossible.

Perhaps this is the irony of the modern age: the US economic sanctions are working - just in a different way than Woodrow Wilson had intended.
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Old 03-10-23, 02:59 PM   #283
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Another one bites the dust.

Silicon Valley Bank seized by FDIC, marking largest shutdown of a US bank since 2008

Its failure marks the largest shutdown of a US bank since 2008, when Washington Mutual fell during the financial crisis.

ByKEN SWEET AP logo
Friday, March 10, 2023 2:34PM


https://abc30.com/silicon-valley-ban...-svc/12938130/

Quote:
SANTA CLARA, Calif. -- The Federal Deposit Insurance Corporation seized the assets of Silicon Valley Bank on Friday, marking the largest bank failure since Washington Mutual during the height of the 2008 financial crisis.

The bank failed after depositors - mostly technology workers and venture capital-backed companies - began withdrawing their money creating a run on the bank.

Silicon Valley was heavily exposed to tech industry and there is little chance of contagion in the banking sector as there was in the months leading up to the Great Recession more than a decade ago. Major banks have sufficient capital to avoid a similar situation.

The FDIC ordered the closure of Silicon Valley Bank and immediately took position of all deposits at the bank Friday. The bank had $209 billion in assets and $175.4 billion in deposits as the time of failure, the FDIC said in a statement. It was unclear how much of deposits was above the $250,000 insurance limit at the moment.

The financial health of Silicon Valley Bank was increasingly in question this week after the bank announced plans to raise up to $1.75 billion in order to strengthen its capital position amid concerns about higher interest rates and the economy. Shares of SVB Financial Group, the parent company of Silicon Valley Bank, had plummeted nearly 70% before trading was halted before the opening bell on the Nasdaq.

CNBC reported that attempts to raise capital failed and the bank was now looking to sell itself.

Silicon Valley bank was not a small bank, it's the 16th largest bank in the country, holding $210 billion in assets. It acts as a major financial conduit for venture capital-backed companies, which have been hit hard in the past 18 months as the Federal Reserve has raised interest rates and made riskier tech assets less attractive to investors.

Venture capital-backed companies were being reportedly advised to pull at least two months' worth of "burn" cash out of Silicon Valley Bank to cover their expenses. Typically VC-backed companies are not profitable and how quickly they use the cash they need to run their businesses - their so-called "burn rate" - is a typically important metric for investors.

Diversified banks like Bank of America and JPMorgan pulled out of an early slump due to data released Friday by the Labor Department, but regional banks, particularly those with heavy exposure to the tech industry, were in decline.

Yet it has been a bruising week. Shares of major banks are down this week between 7% and 12%.
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Old 03-10-23, 03:42 PM   #284
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^ You beat me to that story.

One can only pray that this is not the beginning of another landslide. Just short time ago the Silver Gate Capital Bank learned that it maybe is not a good idea to exclusively focus on financing cryptocurrency- and cyberdeals for its customers; now Silicon Valley Bank, ranked on 16 amongst US banks. SVB is the second biggest fincancier of startups in Silicon Valley with over 30,000 of such starting - or non-starting - customers. The HighTech sector lost feathers in recent weeks and months, and many startups had to withdraw their cash form the bank therefore, consuming it. The bank suffered immense loss of liquidity, trying to counter that by selling bonds worth 21 billion, but under value, since the bank is in an emergency and needed cash at any cost. It now has a deficit of 2 billion dollars. Customers empty their bank accounts in a rush to leave the ship before it sinks. Thats why the bank'S hope to save itself by selling its stocks did not work: it did not generate cash, but cash holders - customers - started to flee in droves. SVB stocks lost 60% value yesterday and was not traded today at all. Its fate now has been sealed by the authorities.

The fear is that this fate will be shared by other banks soon, too, because the economy is such that companies need money and thus emptying their bank accounts, bringing their banks into trouble that way. Banks thus need to sell bonds, but with now raised interest rates it means these bonds get assessed newly and their value is being reduced. This could lead to losses for the banks that mount even further the higher the need for cash by companies becomes: making them emptying their bank accounts even faster. Needing the banks to sell more bonds under value. Rising their losses. The changes in the Fed'S and ECB's interest rates may make sure that although the banks today probabaly would no "infect" each other like 15 years ago, banks individually and independently from each other could get caught in a maelstrom, due to the above explained mechanism.

If we would have a real money, then we would not have this criminal abuse called fractional reserve banking, and these things would not be possible neither in event nor in destructive reach and follow-on effects.

Core inflation is in meltdown mode since three quarters now, showing climbing inflation even in times when the normal inflation seems to stagnate or drop. Not good. Absolutely not good.

Trying to collect the currency units they flooded the market with by raising interests, will soone ror later cause collapse. Not doing so will sooner or later cause collapse. There is no way out anymore. They will sooner or later trigger what harmlessly is called a currency- reform, which means replacing the old one with a new one, a paper FIAT currency of course. It comes at the cost that most people will suffer expropriations not seen since several generations.

I am very, very pessimistic on all this, but that is probably no surprise for anyone here. To me the question is not if, but when.

Bonds should not even be a trading item. They should not even exist. There are so many abstract paper-and-ink inventions they call a "financial product" that are nothing but fraudulent schemes. But the fractional reserve banking madness is at the core of all evil.

"Credit is consumption in advance, which will be omitted in the future." For an intelligent person, this one sentence, written by Ludwig von Mises, is already the content of everything important to know about sound economic principles. That it is not understood shows how completely broken our "money" system and our way of credit-driven economy really is. Alles kaputt. Using credit in an economic cycle can only then not cause desaster if the credit is based on somebody else not consuming and so saving what he is not consuming. Then he actually has something in excess which he can lend to somebody else. But today we allow cretaign credit beign created from nothing, and wiohtoiut consumption renunciation. This is where the system starts to derail. The FIAT "money" and the fractional reserve system were created by states to spend more than their economies could support. And then we are stunned by the desaster that is homing in on us? There is not a single place in the world, not a single country, where peopel actually pay with actual money. We have no money worth that name, nowhere in the world. Bonds, dollars and euros, all that paper bits of leaflets: nothing of that holds a value, nothing of that is "money". Its state-sponsored fraud.
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Old 03-10-23, 04:45 PM   #285
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Now you see it. No you don’t!

Wells Fargo says 'technical issue' causing customers to report missing deposits

The bank sought to reassure frustrated customers that their accounts remained secure and said it was working to resolve the issue.

March 10, 2023, 4:21 PM EST
By Rob Wile


https://www.nbcnews.com/business/bus...depo-rcna74419

Quote:
A "technical issue" was causing some Wells Fargo customers to see missing deposits in their accounts, the bank said Friday.

In response to complains on Twitter, Wells Fargo representatives said that the issue may be leading customers to see incorrect balances or missing transactions but that their accounts "continue to be secure."

Wells Fargo said in a statement on Friday afternoon that it was aware that some customers’ direct deposit transactions "are not showing on their accounts."

"We are working quickly on a resolution and apologize for the inconvenience," the statement said.

This is a developing story. Check back for updates.

Rob Wile

Rob Wile is a breaking business news reporter for NBC News Digital.
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