COMMENT: Mr. Armstrong; I really have to congratulate you. Your work is astonishing. I see why they accused you of manipulating the world. You simply do what others cannot do. You put your opinion aside and focus purely on the facts. If we can somehow bring this approach to government, it would be a complete new future that lies ahead.
Thanks for all you do to help us see what is right before our eyes.
REPLY: Thank you. But I have been trained by my clients. Because I was international and not domestic, everyone forced me to see the world through their eyes. It is really Adam Smith just up a notch. Roman Emperor Marcus Aurelius was truly a brilliant man. His writings have survived and what he teaches is the key to everything. I have been fortunate to learn and absorb what I have been shown by others. This has been my discovery – not my invention. Just follow the capital flows and the answer will be there. We end up in the wrong direction when to begin with a preconceived idea that limits our perspective so that everything we see is only within that concept. We cannot reach the truth with such a bias. Always reduce whatever subject matter to its seed and proceed from there. We cannot understand how things function without investigation. When we try to manipulate the way the economy functions, then all the problems start. Even Joseph from the Bible tell the Pharoah there will be 7 years of plenty and 7 years of drought so prepare and survive. Government today tries to change the weather instead of living within the cycle.
The European Central Bank is so out of touch with the economy it is frieghtening. They see that they have a range of options to consider including negative interest rates. What they do not grasp is that people will not invest and start businesses simply because interest rates are too high. The people must see an opportunity to make a profit. Politicians never see that all their manipulations of the people exclude themselves from the process. They want to retain all their draconian regulation, extract more taxes to secure their future, and federalize Europe to permanently established their job security.
Forcing the euro lower to make European goods cheaper is not reforming the system. They are too BYZANTINE in regulating everything right down to coloring eggs. The complexity is mind boggling. Start with reforming the system and then you may actually create an economy instead of killing it. Even in Germany, the regulation is way too much people would rather work for a major company than start anything on their own. This is the real destruction of economic growth.
Even the Romans learned that taxes were a burden. The problem with socialism has been the pretense that they are doing this for you – not them. In reality, it becomes no different from handing money to a charity and you find out 3% makes it to the actual people and the rest lines their pockets for administrative costs.
The premier of the Turks and Caicos says he’s “not closing the door completely” on the idea of his island nation becoming Canada’s 11th province, but says such a move would only happen if it is the will of his country’s residents. The entire move has been set in motion because of the USA and EU attacks upon tax havens along with the IMF. This is actually a forward-looking view, but other than adding a vacation spot for Canadians, it is hard to say what Turks and Caicos brings to the table.
: Marty, You wrote can we trust elections anymore
. Same happened last year during the national elections in Germany where the eurosceptical party AFD did not make the 5% hurdle – despite all immediate forecasts gave them much more. All statisticians I know told me such a drop seem to be almost impossible from a statistical point of view. Who knows who was counting behind the curtain – on the internet there are since time suspicions about both German leaders once spying for the Stasi, chancellor Merkel as well as President Gauck, both from East Germany..
REPLY: When governments decline economically as they are doing right now, in any elected process the people are ignored or marginalized. We cannot expect honest elections from here on out anywhere. Look at Thailand. Merkel has refused to allow the German people to vote on any issue regarding the EU. This seems to contradict the claimed low turnout for the euroskeptic in Germany compared to both France and UK. I agree, the trend does not match the elections results in Germany.
As far as the Stasi, what I do know is that once people could get their files, they were shocked how people they believed were friends were not. If any politician did work for the Stasi, you can bet those records have been destroyed.
Thailand’s military Coup leader General Prayuth Chan-ocha is in Bangkok and has a royal endorsement. He is now set to deal with the economy. He has warned that he would use force if protests flared up again. Prayuth seized power last week, saying the army had to restore order after nearly seven months of sometimes deadly demonstrations. The military has detained scores of politicians and activists and anyone defying a summons could be jailed for up to two years. It has censored the media and imposed a nightly curfew.
Every single brief uptick and they come running out of the closet and start all over again – sell everything you own and buy gold. We will be releasing the Special Report on metals next week after we get this monthly closing. So far, it still appears that gold could extend this present bear market correction into September 2015 before reversing. That means we may have to see that crack below $1,000 and the majority must shift their beliefs to when there is a rally – they will just say sell it.
As we enter the end of July, the resistance stands at the 1330-1350 area and a closing below 1330 will signal gold is still weak. There are no nearby Monthly Bearish Reversals until we get down to the 1240 level. A closing below 12650 will warn that the upward momentum has been lost.
We are also attempting to put together a Gold Stock report as well since institutions really cannot invest in gold directly lacking any income.