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17 Aug
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August 15, 2019by Egon von Greyerz

Maecenas was a well known benefactor in Rome for Horace and others. His name has come to mean benefactor, in many languages called a mecenate.

The loss of a benefactor can be very serious for anyone on the receiving end of his alimonies. For a century, the world has had the most generous group of benefactors ever. These benefactors have created immense wealth in the world. Even better, they did it without any major effort. All that was required was a printing machine combined with some book keeping wizardry.

The problem is now that these wizards will very soon be revealed as the biggest swindlers in history. With money printing and debt expansion they have created a $2 quadrillion Ponzi scheme of debt, derivatives and unfunded liabilities.


Not difficult to understand that I am talking about Governments and Central Banks which have created a world of illusory wealth. A system that grows primarily by expansion of debt rather than hard work and return on investments made from savings has no sound foundation. When the debt implodes, so will most of the assets financed by the debt. Because assets generated by printed money or debt can by definition not be worth anything since the money that created them was free money with ZERO intrinsic value. Money only has a real intrinsic value when it is the result of a service or produced goods. But it has zero value if it is printed or just generated by a book entry. Thus worthless IN and worthless OUT!

And this is what the world will soon experience. The 2006-9 rescue package of around $25 trillion followed by the doubling of global debt from $125 trillion in 2006 to over $250 trillion today, will be the last time for decades or maybe longer that it will be possible to create worthless money out of thin air and con the world into believing that this is real wealth.


The next round of stimulus in the form of money printing, interest rate manipulation or free money, debt expansion and deficit spending will definitely not work. The world economy is now at the end of the road and any debt added today, even if free or with negative interest will have zero effect. The $100s of trillions of debt likely to be printed in the next few years will trigger the collapse of the debt mountain by its sheer weight. And the current historical super bubble in bond prices will implode with bonds collapsing and interest rates going to the teens initially like in the 1970s to early 80s. Eventually a major part of the bond market will default and rates reach infinity. But before that we might have a couple of years of zero or negative rates as central banks fight to keep the financial system afloat.

When that happens, the money printing will already have created hyperinflation and the collapse of the currencies which I discussed in last week’s article.

In the medium term, the current $15 trillion of debt with negative interest is likely to get much bigger. The implications are both crazy and mind boggling. In Switzerland for example, insurance companies now offer 10 year mortgages at 0.64%. And just look at the 100 year Austrian bond yielding 0.8% It must prove to be one of the worst investments ever as bond prices and currencies collapse.


So the $100s of trillions of wealth that has been created in the world, since the birth of the Fed in 1913, have led investors to believe that buy and hold is the most fantastic method of investment since markets always go up. Well, they have been right of course since virtually everyone who has tried to time the market will have made less money.

But the benefactors (governments and central banks) of the investment markets will after 100 years of success, become totally ineffective by applying the same old methods. And sadly without Deus ex Machina, which is unlikely, there is no other solution. Deus ex Machina was when god was lowered down on the stage in the ancient Greek plays, to solve all the problems.


Investors will of course be unperturbed by the coming falls and continue to buy the dips the whole way down. Technically, it seems quite clear that the small countertrend rally we are now seeing is the preamble to a crash that could start within one to a few weeks from now. And that will be the mere beginning of a secular bear market that will last several years and potentially reach the levels in the graph below.

Most investors will do what all investors have done in the last 100 years namely, buy the dips or just sit tight. Once the market goes down 20-30% or more, only a few will get out but the majority will stay in to the bottom. Some will set levels higher up to get out but those levels will rarely be reached and so they will ride the market all the way down until it has lost 90% or more.

We must remember that a market only needs one seller and no buyer to go to zero. Markets crash on marginal selling and therefore don’t require a big volume of sales to fall dramatically.

For the few intelligent investors who get out of the stocks and bonds as they crash, there are very few alternatives. Cash will be totally debased by the competitive devaluation which is now accelerating. The areas likely to do well in the coming years will be defence, security, forestry, food, natural resources and precious metals of course.


Non government physical gold investment is approximately 0.5% of global financial assets which are $260 trillion. So 0.5% is $1.3 trillion which is 28,000 tonnes of gold. Total annual mine production of gold is 3,000 tonnes. So if investment gold ownership doubled to 1%, it would require 9 years of gold production at current prices.

There are of course many variables which will change in this equation. Gold will go up in price rapidly and world financial assets will decline fast. So the amount of gold required would be a lot lower. But let’s assume that it is only half which is 14,000 tonnes and 4.5 years’ production. That amount will of course not be possible to buy either, especially since the whole paper gold market will explode and create massive demand for physical that cannot be fulfilled.

So it is clear that only a minuscule reallocation of global assets into physical gold would put enormous upward pressure on the gold price. Thus, it would be impossible for institutions to make any meaningful investment into gold at current levels. As the gold price rises rapidly, it is likely that an institution which intends to allocate say $1 billion into gold will not get 21 tonnes at $1,500 but instead 2.1 tonnes for its $1B at a price of $15,000. This means that the coming gold demand can only be met at much higher gold prices and smaller quantities.

It is still possible to buy physical gold in bigger quantities but I don’t expect that window to stay open for very long. At some not too distant point, it will be very difficult to buy any major quantities of gold. There will be long delivery delays and refiners will not be prepared to fix the price until they have the gold in stock. This for two principal reasons. Firstly, the paper market will not function properly or at all. Thus, refiners wouldn’t take the risk of hedging themselves in that market. Secondly, as the price is rising, refiners will only sell physical when they actually have it in order to maximise profits.

Anyone intending to buy gold in big quantities has a very small window currently when that is still possible. Very few institutions will realise this until it is too late. Also buyers of smaller quantities of gold will have problems to get hold of gold at reasonable prices or margin as the price of gold moves up rapidly.

What I say about gold above is even more relevant for silver. Silver is a very small market that has been suppressed for years. It is now on the verge of breaking out and once it does, the price will move very rapidly and it will become extremely difficult to get hold of physical silver.

I emphasise physical metals because anyone who buys paper metals is unlikely to ever get delivery or be paid out.


For all the gold bears and doubters, have a look at the chart below. We have had so far a 20 year bull market in gold and just broken out of a long correction. A chart cannot look more bullish than this one. There is no doubt that gold in dollars will soon make new highs past the $1,920 high in 2011. We must remember that gold has already made new highs in dozens of currencies, including Australian and Canadian dollars, British pounds, Swedish and Norwegian Kroner and many more. The break of the Maginot Line at $1,350 was the last obstacle for gold. The old high at $1,920 will be blown away easily.


In my recent articles I have stressed the urgency of getting out of bubble assets like stocks and bonds and to own physical metals. I see the next phase in markets starting very soon, whether that is in a few days or a few weeks. Next phase means stock market crash and precious metals surge.

What is going to happen in markets this autumn or sooner will shock the world. The fall in stocks will be violent and fast. Most investors will be paralysed hoping it is all temporary. 100 years of money printing and credit creation has made investors complacent believing that markets go up for ever. As asset prices fall and debt markets collapse, we will see the biggest wealth destruction in history.

The risk is here now and it can start at any time. There is no time to think or procrastinate. If you act now, you have a chance to protect your assets and not be one who loses assets accumulated over decades in a flash.

The very few who own gold or silver as protection against the coming catastrophe will definitely sleep better.

Egon von Greyerz
Founder and Managing Partner
Matterhorn Asset Management
Zurich, Switzerland
Phone: +41 44 213 62 45

Matterhorn Asset Management’s global client base strategically stores an important part of their wealth in Switzerland in physical gold and silver outside the banking system. Matterhorn Asset Management is pleased to deliver a unique and exceptional service to our highly esteemed wealth preservation clientele in over 60 countries.
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Why the Dollar Rules the World — And Why Its Reign Could End.

17 Aug

Why the Dollar Rules the World — And Why Its Reign Could End


TAGS Money and BanksMoney and Banking

08/13/2019Antony P. Mueller


President Donald Trump wants a lower US dollar. He complains about the over-valuation of the American currency. Yet, is he right to accuse other countries of a “currency manipulation”? Is the position of the US dollar in the international monetary arena not a manipulation in its own right? How much has the United States benefitted from the global role of the dollar, and is this “exorbitant privilege” coming to end? In order to find an answer to these questions, we must take a look at the monetary side of the rise of the American Empire.

Trump is right. The American dollar is overvalued. According to the latest version of the Economist’s “ Big Mac Index,” for example, only three currencies rank higher than the US dollar. Yet the main reason for this is not currency manipulation but the fact that the US dollar serves as the main international reserve currency.

This is both a boon and a curse. It is a boon because the country that emits the leading international reserve currency can have trade deficits without worrying about a growing foreign debt. Because the American foreign debt is in the country’s own currency, the government can always honor its foreign obligations as it can produce any amount of money that it wants in its own currency.

Yet the international reserve status comes also with the curse that the persistent trade deficits weaken the country’s industrial base. Instead of paying for the import of foreign goods with the export of domestic production, the United States can simply export money.

American Supremacy

The performance of the US economy in the 20th century owes much to the predominant role of the US dollar in the international monetary system. A large part of attaining this role was the result of the political and military supremacy that the United States had gained after World War I. Still today, the position of the US dollar in the world of finance represents a major underpinning of the prosperity at home and provides the basis for the expansion of the US military presence around the globe.

After each of the two world wars in the 20th century, the United States emerged as the largest creditor country, while the war had ruined the economies of the war-time enemies along with that of the major allies. After the end of the Cold War, this pattern would experience a repetition. The United States, so it seems, has been, since then, the only remaining superpower.

In the 1990s, the dollar experienced a new flourishing, and the US economy went through magical rejuvenation. However, this time the economic and political fundamentals gave much less support to the assumed role of the dollar in the world. In contrast to the time after World War II, the basis for the dollar’s global expansion in the 1990s was not economic strength, but debt creation. The public debt ratio, which had been falling since the end of the war began to turn-around in 1982 and has been rising ever since (Figure 1).


Figure 1: US Gross Federal Debt Ratio (Debt in percent of gross domestic product), 1940–2018. Source: US Bureau of Public Debt,

With this debt creation came a new phase of global expansion of the dollar. The spread of the dollar provided the basis for the economic performance and the military position of the United States. Yet this time, the new structure that has emerged is outwardly powerful but inherently fragile. It is not economic strength that provides the foundation of the role of the US dollar in the international monetary system, but it is the US dollar’s financial role that provides the basis for the United States to maintain and extend its global activities.

While after 1919 and after 1945, the United States emerged not only as the largest international creditor, but also as the major industrial power, the US has become an international debtor since the 1980s and is confronted with a weakening industrial base. Also, in contrast to the earlier world wars and the other conflicts, the economies of Russia, Western Europe, and Southeast Asia did not lay in ruins when the Cold War ended. As to their productive capacity and financial resources, these regions now are on an even footing with the United States.

For a while it appeared as if the international monetary system that emerged in the 1990s could be interpreted as a new version of the older Bretton Woods System whose structure foresaw a central role for the US dollar in the post–World War II era. While the parallels fit insofar as the current system provides similar benefits to the participants, the present structure is even more flawed than the older scheme, which broke down due to its inner contradictions.

Bretton Woods

Like the earlier Bretton Woods System (BW1), the current system (BW2) is characterized by the pegging of foreign currencies to the US dollar or using the dollar as the currency of reference. This time, it is mainly Southeast Asian countries, particularly China, that practice this policy in an informal way. Through this arrangement, these economies in Southeast Asia receive a similar advantage as was once enjoyed by the Western European countries when their undervalued currencies gave them a competitive advantage that helped to rebuild their industrial base after the Second World War. Once this reconstruction stage was completed, the BW1 system fell apart, and the Europeans began to build their own currency system. The decoupling of the European currencies from the dollar progressed step by step and finally led to the introduction of the euro in 1999. As of now, the euro is equal to the US dollar in the size of its internal use, yet as a global currency, and particularly as an international reserve currency, the US dollar still dominates majestically (Figure 2).


Figure 2: Shares of the major currencies in the international monetary system. Source: European Central Bank

Mainly the central banks in Southeast Asia, foremost China, have accumulated US dollars as their international reserves in the recent past. However, there is little doubt that their willingness to finance US deficits and to hold on to a weakening currency will not last forever. As happened in Europe before, once the prime goal of these countries is fulfilled — industrial development based on exports with the help of undervalued currencies — Southeast Asia will move out of the dollar linkage.

The Bretton Woods System as it was established by the end of World War II bestowed an “exorbitant privilege” to the United States when the dollar became the point of reference for the international currency system following the Bretton Woods Accord. With the other member countries fixing their currencies to the US dollar, and the US dollar officially fixed to gold at $35 per troy fine ounce, it seemed as if an ideal construction was found in order to avoid international monetary disruptions and to provide the framework for global economic expansion.

The gold anchor was aimed at preventing an excessive production of US dollars by the US government. When foreign countries had a trade surplus, they were formally allowed, according to the Bretton Woods Accord, to exchange the excess dollars for gold from the American Treasury. With a stable parity between dollar and gold, this would have restricted dollar creation. France took the agreement literally and demanded gold from the United States instead of accumulating dollars as international reserves. Yet other surplus countries such as Japan and West Germany refrained from that option. With their exchange rates kept competitive, Japan and West Germany embarked upon an export-led growth strategy that sped up their economic recovery and made them industrial powers again.

For the United States, the BW1 system provided a special privilege and it did not take long for the United States to abuse it. Pursuing the goal of expanding the welfare state along with ever-more-active foreign military involvements, the United States expanded the money supply drastically. The discrepancy began to widen between the stock of gold in the vaults of the Federal Reserve and the dollars in circulation in the world. It became obvious that the US government no longer had the means to fulfill the original agreement of making foreign currencies exchangeable into gold. By the late 1960s, the dollar shortage of the 1950s had turned into a dollar glut. World price inflation began its rise.

Originally in the BW1 treaty, it was stipulated that the modification of currency parities should be an exception rather than a rule. But in the course of the 1960s, the international monetary system entered into a phase of high instability when fixing and re-fixing of foreign currencies to the dollar became a huge concern. The perverse monetary system that emerged created a bonanza for currency speculators. The candidates for exchange rate revaluation — such as Germany or Japan — were easy to identify. By taking out a dollar loan and changing the money at a fixed rate into German marks or Japanese yen and then depositing the amount, leverage could be applied, and profits were guaranteed when the revaluation of the foreign currencies occurred — as it was not hard to foresee. The risk was minimal and largely confined to bearing the cost of the interest rate differential between the rate of the dollar loan and that of the deposit rate in the German or Japanese money markets.

Long Live the Dollar

In the late 1960s, the international monetary system had transmogrified into a source of global liquidity creation that originated from the United States but forced also other nations to import this inflation. Inflation-fighting central banks, such as the German Bundesbank, could not effectively apply restrictive instruments. Given that the interest rate differential was the prime risk factor for currency speculators, a restrictive monetary policy with higher interest rates in the revaluation candidate country would attract even more hot money and would have made the speculation even less risky. Central banks abroad, particularly the German Bundesbank and the Bank of Japan, massively accumulated US dollars as international reserves when they held their exchange rates fixed to the dollar at the undervalued parity. Yet by buying up the excess offer of US dollars with their own currency, these countries expanded their own monetary base and laid the foundation for inflation at home.

In 1971, with the so-called “Smithsonian agreement,” a final attempt was made to save the old system when the United States devalued its currency against gold and a series of other currencies. However soon thereafter, it became obvious that there was no chance of revival for the old regime. In 1973, with the adoption of the new rule that each country could choose its own currency arrangement, the Bretton Woods System was officially declared as dead.

Since then, the US dollar has entered into a long decline, interrupted by two episodes. Under the Reagan presidency, the Cold War entered into its final period, and the dollar became the currency of refuge for some time. The US victory in this battle appeared as a replay of the endings of World War I and World War II with the United States emerging for a third time on top of the world. In the 1990s, the triad of global dominance seemed well in place for the United States: unrivalled military might, a booming and innovative economy, and the status of undisputed issuer of the global currency. The US dollar experienced another period of strength. Since 2002, however, the long-term trend toward a weaker dollar is back in place, interrupted by lower peaks of the waves of strength (see Figure 3).


Figure 3: US Dollar Index, 1965–2019. Source:

The Dollar and US Foreign Policy

In the 1990s, the monetary policy of the United States became an instrument of a grand geostrategic enterprise. The neoconservative movement took this constellation as it emerged in the 1990s for granted and implemented a policy that was based on a philosophy that assumed with almost religious confidence that it was the duty and right of the United States to be the hegemon in the 21st century. In contrast to the time after the two world wars, however, the rest of the world outside of the United States did not lay in ruins. While after the two world wars, it was the US industrial base that laid the foundation for the role of the US dollar, now it was not the superiority of the US industrial base that provided the basis for the global role of the United States but its insatiable appetite for private and public consumption. The current underpinning of the geostrategic supremacy play of the United States is the US dollar by itself in its role as the major international reserve and trade currency. It is a system without a proper foundation similar to traditions that live on for some prolonged period of time even when the reasons for their existence have vanished.

Changing of the Guard

The easy monetary policy of the United States has accelerated the de-industrialization at home and has fostered industrialization abroad (predominantly in China and in the rest of Southeast Asia); it has produced a situation that stands in sharp contrast to the end of World War I and World War II. Under the new BW2 system, the United States is no longer the largest creditor with the largest industrial base, but instead has become the largest international debtor. Imperial politics requires expansive monetary policy, and the consequence of it shows up in persistently high trade deficits and a deteriorating external investment position (Figure 4).


Figure 4: United States net international investment position, 1976–2019 (in million US-dollars).

Being the issuer of a global currency provides huge benefits that come with a curse. Increased private and public consumption possibilities come from the privilege of getting goods from abroad without the necessity of producing an equivalent amount of tradable export goods. While other countries have to export in order to pay for their imports, the sovereign who emits a global currency is exempt from adhering to the most fundamental law of economic exchange. This sets domestic resources free for the expansion of the state, particularly military power. The more such an imperial power extends its military presence, the more its currency becomes a global currency, and thereby new expansionary steps can be financed. Expansion becomes a necessity.

Over time, however, the divergence widens between the weakening industrial base at home and the extended global role. With goods coming from abroad for which there is no immediate need to pay with sweat and effort, the domestic culture changes from an ethics of production to hedonism. Creeping corruption cronyism undermines the political system. With resources set free because of imports, the production of goods at home shifts to fancy activities. The cycle of “panem et circenses” has been the fate of all empires.

The current global position of the United States is similar to that of Spain in the period of its decline. Already economically hollow, Spain tried desperately to hang on to its outposts and “possessions” around the globe while the domestic economy transmogrified into a public-service and militarized economy. In the end, the United States gave the coup de grace to the Spanish Empire by taking away Cuba, Puerto Rico, and the Philippines. A new phase of US geographic expansion and dominance began and in 1898 and the stage was set for the United States to become the imperial power of the 20th century.

History, and in particular economic history, always shows both: common features and differences, and indeed, the American Empire is different from some of the former empires. Yet what the United States has in common with the former imperial states is that at some point the military extension becomes too complex to be handled efficiently and thus becomes too costly.

The discrepancy between the relative position of the US economy in the world on the one hand and the relative position of the United States as to its military presence and the role of the US dollar on the other hand is moving toward a cracking point. This leads to the conclusion that in a world where the economic strength of the United States is diminishing relative to other countries and regions, there will be less and less of a place for the US dollar privilege.

Different from the factors that justified the expectation of a coming demise of the dollar in 2007, the American currency has experienced a new spring due to the financial crisis of 2008. With little else in place for shelter, the US dollar served as a safe haven. It remains to be seen if this will also be the case when the next financial disaster happens.

Dr. Antony P. Mueller is a German professor of economics who currently teaches in Brazil. Write an e-mail. See his Amazon author page.


Meet The Desk-Sized Turbine That Can Power A Small Town.

17 Aug

Meet The Desk-Sized Turbine That Can Power A Small Town

GE Global Research has just developed a carbon dioxide powered turbine that could produce super efficient energy – and it is remarkably small.

10,000 HOMES

Engineers from GE Global Research unveiled a turbine that could provide power for 10,000 homes. But what’s truly remarkable about this turbine is its potential to solve the world’s energy challenges.

Typically, turbines weigh tons and use steam to run—this one is no bigger than the size of your desk, weighs around 68 kg (150 pounds), and runs on carbon dioxide. “This compact machine will allow us to do amazing things,” said Doug Hofer, lead engineer on the project, in Albany, New York. He continues, “the world is seeking cleaner and more efficient ways to generate power. The concepts we are exploring with this machine are helping us address both.”

The current design of the turbine will allow up to 10,000 kilowatts of energy to be produced; however, researchers are looking into scaling up the technology so that it can generate up to 500 megawatts, which could be enough to power a city.


To work, carbon dioxide is kept under high heat and extreme pressure. Given these conditions, the carbon dioxide goes into a physical state somewhere in the middle of gas and liquid. The turbine then harnesses the energy, transferring half of the heat to become electricity.

The design also allows for easier operation—the turbine can be powered up and turned off easily making it more efficient for grid storage, a longstanding issue for other renewable energy sources such as solar and wind power.

The result is a turbine that can generate energy in a more efficient and sustainable manner.

According to GE, the power cycle is a closed loop, which means that the carbon dioxide circulates continuously, ensuring that there are no waste products. To break this down a bit more, the unit is driven by “supercritical carbon dioxide,” which is in a state that at very high pressure and up to 700 °C (1290 °F). And notably, once the carbon dioxide passes through the turbine, it is cooled and then repressurized before returning for another pass.

As MIT notes in the release, “Steam-based systems are typically in the mid-40 percent range; the improvement is achieved because of the better heat-transfer properties and reduced need for compression in a system that uses supercritical carbon dioxide compared to one that uses steam. The GE prototype is 10 megawatts, but the company hopes to scale it to 33 megawatts.”

Also of note, a steam system can often take 30 minutes to get working; however, a carbon dioxide turbine might take only a minute or two.

Currently, the team is coordinating with various US government agencies to test the turbines.


Why the Dollar Rules the World — And Why Its Reign Could End | Antony P. Mueller

15 Aug

President Donald Trump wants a lower US dollar. He complains about the over-valuation of the American currency. Yet, is he right to accuse other countries of a “currency manipulation”? Is the position of the US dollar in the international monetary arena not a manipulation in its own right?

Source: Why the Dollar Rules the World — And Why Its Reign Could End | Antony P. Mueller

Red China is a Creation of Globalists.

13 Aug

Red China is a Creation of Globalists


If one is blind to the truthful account of history, understanding of current events will never break the mind controlled barrier of sanitized awareness. The globalists or whatever synonym name you choose personifies the forces behind the screens that shape the political, economic and cultural impositions on the world. China has not been immune to the infliction of obscurity in the implementation of what actually is driving their regime.  As the old Chinese curse has it: “May you live in interesting times”, has proven to be much more than a platitude, it is a model for planetary enslavement. How did this conquest begin and where is it going?

In a special report by Texe Marrs, The Illuminati and Its Triad of Evil presents a credible account that most have never confronted before.

“Another revelation that U.S.A. and western journalists and historians are prohibited from writing about concerns the Jewish origins of Mao Tse Tung’s Red Chinese revolution. In fact, Mao was a stupid and inept Chinese peasant who was schooled by Skull and Bonesmen and initiated into the internationalist Masonic Lodge by socialist Jews from the United States. This was done with the tacit permission of President Franklin D. Roosevelt, a 32nd degree Mason and, later, President Harry S. Truman a 33rd degree Mason.

Mao all along has been a closely-controlled puppet of Jewish revolutionaries—men like Israel Epstein and Sidney Shapiro, who lived in China and had the reins of power over two key areas of Beijing’s Communist Government—the treasury (money) and the media (propaganda). Interestingly, Zionist Jews hold sway over these same two essential instruments of government today in the United States.”

An additional source explaining that Communist China was created by Rothschilds and their agents, presents an even more sinister chronology of the New World Order plan to extend their rule.

“October 1 1949, Mao Tse Tsung declared the founding of the People’s Republic of China in Tiananmen Square, Beijing. He was funded by Rothschild created Communism in Russia and also the following Rothschild agents: Solomon Adler, a former United States Treasury official who was a Soviet Spy; Israel Epstein, the son of a Jewish Bolshevik imprisoned by the Tsar in Russia for trying to ferment a revolution there; and Frank Coe, a leading official of the Rothschild owned IMF. Jews were behind the rise to power of Mao Tse Tung, the communist dictator of China, who tortured and murdered tens of millions of Chinese (mostly Christians) during his brutal reign. Sidney Shapiro, an American Jew, was in charge of China’s propaganda organ. Another Jew, Israel Epstein, was Mao’s Minister of Appropriations (Finance).

Mao would murder sixty million innocent Chinese people under his rule mainly to destroy traditional Chinese culture in order to gain total control. As with Christianity, any practitioners of spiritual systems where outlawed, killed, and thrown into gulags, to die a slow death through slave labor, starvation and torture. The Communistic systems became the new culture of control. With China under their flag, Tibet was next on the list as being the last bastion of spiritual and historical knowledge. All the Jewish systems seek to remove spiritual knowledge from Gentiles and keep it in the hands of the Jewish elite. This is a major part of their indoctrination program. There has been a major Jewish population in China for over a thousand years such as the Jews of Kaifeng.”

If these authorships do not provide the weight of trustworthiness for your worldview, maybe the admittance from the flagship of the establishment narrative would convince the faint hearted. In an official history of the Council on Foreign Relations, the CFR’s Peter Grose explains CHINA’S GLOBALIST AGENDA.

“The Council turned in earnest to the problem of communist China early in the 1960s. Various Council publications had started developing the idea of a ‘two-China’ policy – recognition of both the Nationalist government of Taiwan and the communist government on the mainland. This, Council authors suggested, might be the least bad policy direction. Professor A. Doak Barnett published a trail-blazing book for the Council in 1960, Communist China and Asia. A major Council study of relations between the United States and China commenced in 1964, the year China exploded its first nuclear bomb; the group met systematically for the next four years. “Contentment with the present stalemate in relations with the Chinese is not statesmanship,” declared Robert Blum of the Asia Society, the first director of the project. “American impatience and the strong currents of political emotion often make it impossible to plan ahead to manage our policy in a persevering but flexible way.’” (Peter Grose, Continuing The Inquiry: The Council on Foreign Relations from 1921 to 1996, New York, Council on Foreign Relations, 2006; ‘ ‘X’ Leads the Way’).

Oh such a noble concept, Statesmanship. In any other reality the translation means consolidation into the global order of human bondage. The nature of the Chinese regime is based upon totalitarianism. An unholy union with the mega corporatists has produced the biggest economic transfer of all times into a Communist reign of terror model for the future of all humanity.

Preston James, PhD writes in The Hidden History of the Incredibly Evil Khazarian Mafia. “The opium addictions created by Rothschild opium sales to China harmed China so much that China went to war on two occasions to stop it. These wars were known as the Boxer Rebellions or the Opium Wars.”

The sour taste of foreign intervention into internal Chinese affairs caused a blowback. St. John Bartholomew explicates in Colonial Elite Rules China for the Illuminati.

“Beijing -The Chinese elite is a merger between the Communist leadership, Hong Kong tycoons, and the criminal Triads. All three factions derive their power from Illuminati collaboration.

China has appeared autonomous because the Illuminati developed the country internally, funding ‘revolutionary’ political parties spouting nationalist slogans. The reasoning was that the Chinese people would revolt against overt foreign domination, but embrace their place in the NWO if they believed they were in control.

Lord Bertrand Russell revealed this plan in a report on China published in 1920:”

This is the true record of intrusion driven by the proponents of Talmud rule.

So it is completely consistent when Richard M. Nixon surrendered to the Henry Kissinger prescriptions for opening the door to China. Remember that Kissinger was a communist agent for David Rockefeller. His own admission from the Corbett Report, China and the New World Order, is most revealing.

HENRY KISSINGER: “But they really are issues of the construction of a new world order, that’s what this is about, and that’s the sort of dialogue the Chinese are generally good at and so a partnership between us is central. A conflict between us is going to exhaust us both. In tactical exercises it cannot be conclusive.

INTERVIEWER: And the New World Order could satisfy both?

KISSINGER: It has to satisfy both because otherwise it will lead to tensions that will exhaust us both.”

(Source: Henry Kissinger on China and the New World Order)

The net result is that the Red Chinese have been integrated into the globalist axis of evil. The fruits from the tutelage of Mao Tse Tung have produced a poison that is reflected in the current ruling commissars of the Chinese dragon.

Alex Newman in The New American identifies the prominent role of the illuminati prototype that China is advancing in the essay, Communist Chinese Dictator to Push Globalism at World Economic Forum.

“In establishment-media news reports, the brutal Chinese dictator actually sounded a lot like a rank-and-file member of the globalist Council on Foreign Relations. Using deceptive rhetoric about “inclusive” economies and globalization, language pioneered by the unfathomably wealthy Rothschild dynasty, Xi’s minions boasted that their dear leader would unabashedly promote globalism at the annual summit of political and business leaders in the Swiss Alps.

“With the rise of populism, protectionism, and nativism, the world has come to a historic crossroad where one road leads to war, poverty, confrontation and domination while the other road leads to peace, development, cooperation and win-win solutions,” declared Communist Chinese State Council Information Office boss Jiang Jianguo at a World Trade Organization summit in Geneva.”

Do you see a pattern of world domination exhibited over the lingering and sinister history from the shrouded zealots of Baal?  China is building an empire out of Mao’s Red Book of perdition. “

“The Communist Party of China, having made a clear-headed appraisal of the international and domestic situation on the basis of the science of Marxism-Leninism, recognized that all attacks by the reactionaries at home and abroad had to be defeated and could be defeated. When dark clouds appeared in the sky, we pointed out that they were only temporary, that the darkness would soon pass and the sun break through.”

The Present Situation and Our Tasks” (December 25, 1947), Selected Military Writings, 2nd ed., p. 347.

Know your enemy and the power behind the throne.

SARTRE – September 12, 2017 Subscription sign-up for the BATR RealPolitik Newsletter

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13 Aug
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August 8, 2019

by Egon von Greyerz

History is full of mad leaders from the Babylonian King Nebuchadnezzar, the Roman Emperor Caligula to many English and French kings as well as modern examples. But the question is if we have ever had such a mad world as today. Globally, ethical and moral values have vanished and decadence is rampant. And financially there is zero discipline as leaders are attempting to set aside the laws of nature. This is for example totally obvious in the manipulation of the world economy which is done on a greater scale than has ever been done in history.


So we are not looking at one or two mad leaders today, but instead at a mad world where virtually every single leader or central bank head is mad. If they weren’t, why would they attempt or print the world to prosperity with fake and worthless money or raise unlimited credit. And why would they pay people to borrow money through negative interest rates.

The next logical step is of course that we all stop working, let robots produce what we need, with the government giving us all ample free money to buy what we want. And if we need more money, we can just borrow and will receive interest on top of the loan. Naturally the loan will never need to be repaid since we can print unlimited amounts to infinity.

The above description might sound like an implausible saga but it is not far from where we are today. So we haven’t got robots that do all human work yet, but that is just a matter of time. We must also remember that all productive capacity will be owned either by the government or more likely by a ruling oligarchy. Thus normal people will be virtual slaves with very few needed since robots will do most of the work.


We are certainly not yet at the point where humans can be totally replaced by robots. But the trend is clear and it is only a matter of time whether it takes 100 years or several hundred. A severe economic crash could obviously delay this development. After the fall of the Roman Empire, cultural and economic evolution stood still or went backwards for an extended period. The Dark Ages lasted between 500 and 800 years, depending on how you count.

We must learn from history but mankind never does. Every generation has always believed that because I am here now, it is different.

Bearing in mind what could happen longer term, let us look at the shorter time frame. As I said, mad governments and central banks are doing all they can do to expand the bubble to a magnitude which will turn the world economy into a massive nuclear bomb. Once this bomb explodes or more appropriately implodes, the consequences will be disastrous for the world. It will be impossible to forecast the exact repercussions of this event. But what is quite certain is that it will involve major suffering for our planet at all levels.


As I discussed in last week’s article, central banks are now panicking. They know that the world economy and the financial system is standing on a foundation of quicksand. The effects of quicksand is that the harder you try to get out, the deeper you sink. And this will be the next phase for the world economy. Central banks only have two pills at their disposal. One is called money printing and the other is interest rate manipulation.

Since Nixon closed the gold window in 1971, central banks have overdosed these two medicines with ever increasing frequency. The consequences for the world have been disastrous but virtually no one has noticed. For example, the average house in the UK cost £4,700 in 1971. Today the price is £230,000 even though you would only get a shed for that money in South East England. Still, the average price has gone up almost 50x or 4,800%. Let’s say that instead of buying a house, the person put £4,500 in the bank earning 4% per annum for 48 years between 1971 and 2019. Today he would have £30,000 in total, including the interest. So his money in the bank went up 6x whilst the house went up 50x. Obviously, he can’t now afford to buy a house with his savings having lost most of their purchasing power.


This is how savers have been crushed by governments irresponsible destruction of the value of money. Credit expansion and money printing have totally demolished the value of money and also the incentive to save. Today it is even worse for savers since it is no longer possible to earn an annual interest return of 4%. In most European countries, you earn nothing or negative interest. Currently savers thus have to pay a penalty to the government for being thrifty. This is totally outrageous and will soon lead to the destruction of the financial system. As anyone who understands the basics of economics knows, real investment returns come from savings. To achieve real growth and a stable currency, total investments must equal savings.

Most people don’t understand that the value of their money in the pocket is deteriorating all the time. They live under the illusion that prices are going up which is totally erroneous. It is not prices that are going up but the value of money which is declining rapidly. The example of the house above going up 50x in 48 years is a good illustration. In real terms, the house has not gone up in value at all. It is the value of the money that has collapsed in all countries since Nixon closed the gold window.


Western governments hate gold because gold reveals their deceitful actions in destroying the value of money. But they don’t just hate gold, they don’t understand it either. In 1999-2002, both Switzerland and the UK sold around half of their gold. In the case of the UK they sold 395 tonnes at an average price of £200 per ounce ($280). They received £2.5 billion. Today the gold price is £1,230 and the UK gold would have been worth £15B. So Gordon Brown, the UK Chancellor has cost the country £12.6B ($15B) by selling off half of the gold reserves at the very bottom of the market. The Swiss government was even more clueless and sold 1,500 tonnes which cost our country $38 billion.

If governments and central banks were honest, they would every year publish a table how much value the currency has lost in relation to gold which is the only money that maintains its purchasing power.

But since governments never do this, I will do it for them. Below is a table of the gold price for a selection of countries:

The message couldn’t be clearer. Most of the major currencies have lost 98-99% of their value in real terms since Nixon’s fatal decision in 1971. Some like the Swiss franc, DM/Euro and the Yen have fared marginally better.

And if we look at the currencies’ performance in this century, they have all done abominably. Major currencies have lost 78-85%. Again, the Swiss franc is the star performer with only 68% loss.

For anyone who wants to understand economics, and governments’ nefarious mismanagement of our money, all he needs to do is to look at this table. But it will never be part of any university or business course curriculum. Nor will any journalist cover this simple but critical concept.


Not only does the table explain what has happened in the world economy in the last 48 years, but it also predicts what will happen in the next few years. Because anything that has fallen 98-99% is guaranteed to fall 100% and lose all its value. And the recent actions and statements of the Fed, ECB, Bank of Japan etc is now the launch of the final round of currency slaughter. There is no way to avoid it, von Mises told us this already back in 1951:

So this is what is coming next:


In the table above I included Argentina and Venezuela because they show what the next step will be for most countries in the world, in the next five years or so. With the next round of money printing on a scale that has never been done before in history, the dollar, euro, yen, pound etc will complete their final fall to zero. Whether gold in these currencies goes to 64 million like in Argentina or 357 million as in Venezuela is totally irrelevant. Paper money will be totally destroyed and hyperinflation will be rampant. The next stage thereafter will be a deflationary implosion of the financial system including all credit and most bubble assets like stocks, bonds and property.

Gold is now showing us the way and has made new highs in many currencies like the pound, Canadian and Australian dollar, the yen, Swedish and Norwegian kroner and many more. The euro and the dollar will soon follow.

But we must remember that it is not gold making new highs but the currencies making new lows. What will happen next is that paper money will be totally destroyed and so will all the bubble assets. Although most major currencies have already fallen 80% since 2000, they will all lose another 100% measured from today.


We decided to put major funds into physical gold in 2002. Many of the people we advised at the time were UK based. Gold in pounds at the time was £200. Today it is £1,200 a 6x gain. The combination of capital gain and asset protection cannot be beaten by any other investment. And it is so simple, no daily worries about buying, selling stocks etc and spending lots of time trying to understand the folly of investment markets.

With the economy as mismanaged as it is today, the government does all the work for us by unlimited money printing and credit expansion. And that work will now accelerate. So all we need to do is to ride the government wave of destruction. Gold will continue to reveal how badly governments are doing. It must be the simplest investment game in town!

So anyone who doesn’t own gold and silver must take action now. There is still time to buy the best life insurance possible. Because this insurance will not only protect your assets from total destruction but also prove to be the most profitable investment in history. But remember to store it outside the banking system and in a safe jurisdiction.

Egon von Greyerz
Founder and Managing Partner
Matterhorn Asset Management
Zurich, Switzerland
Phone: +41 44 213 62 45

Matterhorn Asset Management’s global client base strategically stores an important part of their wealth in Switzerland in physical gold and silver outside the banking system. Matterhorn Asset Management is pleased to deliver a unique and exceptional service to our highly esteemed wealth preservation clientele in over 60 countries.
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