Krugmenistan vs Trumplandia: Backflipping into a Depression

In this return to Krug­menistan we’re going to return at a top­ic every­one loves: Fed­er­al Reserve inter­est rate poli­cies. Yay! If that sounds bor­ing, note that we’re specif­i­cal­ly going to exam­ine Don­ald Trump’s plans for the Fed­er­al Reserve so it’s guar­an­teed to be crazy. And omi­nous. Does that sound bor­ing? How about plans to inten­tion­al­ly col­lapse the econ­o­my for no dis­cernible rea­son. Does that sound bor­ing? No, this is Don­ald Trump’s poli­cies we’re talk­ing about. It’s any­thing but bor­ing. Or sane.

Krugmenistan vs the Permahawks

Lift Off! That was the announce­ment by the Fed­er­al Reserve this week when the world’s biggest and most influ­en­tial cen­tral bank start­ed the long await­ed rais­ing of its bench­mark short-term rate a quar­ter point from near-zero lev­els, mark­ing the first time the Fed has raised rates since 2006. It was big news, except this rate hike was telegraphed for quite a while now and vir­tu­al­ly every­one was expect­ing the Fed to do exact­ly what it did, so it’s not as big as it could have been. If the Fed had decid­ed not to raise rates, despite all the telegraph­ing, that prob­a­bly would have been a big­ger sto­ry. But would it have been a bad sto­ry if the Fed decid­ed to keep rates at their cur­rent near-zero lev­els? There’s a big debate in the eco­nom­ic com­mu­ni­ty over that. And it’s a debate that pits pru­dent econ­o­mists with excel­lent track-records like Paul Krug­man, some­one who opposed the Fed’s Decem­ber “lift off” deci­sion, against the broad array of “per­ma­hawks”. But it’s not just the ques­tion with respect to Fed. The Euro­pean Cen­tral Bank made a pol­i­cy announce­ment this month too regard­ing its stim­u­lus mea­sure and it was indeed rather sur­pris­ing. And as we’re also going to see in this post, it was sur­pris­ing in the way that just might have done seri­ous dam­age to not just the cred­i­bil­i­ty of ECB Pres­i­dent Mario Draghi but the ECB itself. Or at least cred­i­bil­i­ty in the ECB’s com­mit­ment to its sin­gle man­date of keep­ing infla­tion hov­er­ing around 2 per­cent.

To pla­cate per­ma­hawks (to main­tain cred­i­bil­i­ty) or not pla­cate the per­ma­hawks (to main­tain cred­i­bil­i­ty)? That is the ques­tion. Or at least one of the ques­tions cen­tral banks face. Unfor­tu­nate­ly.

The Snowden-Inspired, Bitcoin-Operated Online Murder Incorporated

A dis­turb­ing, per­haps pre­dictable devel­op­ment car­ries the Lud­wig von Mises/Hayek/Hoppe/Ron Paul phi­los­o­phy to a new lev­el. A benight­ed crea­ture using the name Kuwa­batake San­juro has cre­at­ed on online, bit­coin-fund­ed assas­si­na­tion net­work called “Assas­si­na­tion Mar­ket.” Inspired by Edward Snow­den, the largest bit­coine boun­ty offered is on the head of Ben Bernanke, chair­man of the Fed­er­al Reserve. UPDATED ON 11/23/2013.

Deutsche Bank and the Financial Meltdown

It is impor­tant to under­stand that Ger­man banks are any­thing but blame­less in the Euro­pean finan­cial cri­sis. Deutsche Bank car­ried a large amount of bad debt on its books and lied about it in order to fool investors. In 2007, the Fed­er­al Reserve had to help bailout Deutsche Bank. The U.S. sued Deutsche Bank over its manip­u­la­tion of the Amer­i­can mort­gage mar­ket.

First of The Covid-19 “Op” Articles

Because the online read­ing of the first and most impor­tant of Mr. Emory’s arti­cles on the Covid-19 “Op” was sub­par, it is pre­sent­ed here for your use and con­ve­nience. This was tak­en out from behind the Patre­on pay­wall. As peo­ple with an oblig­a­tion to our descen­dants, we have the respon­si­bil­i­ty to pre­serve a record of the events lead­ing to the col­lapse of our social and polit­i­cal milieu. There is no bet­ter way of ful­fill­ing that oblig­a­tion than by obtain­ing the lat­est flash dri­ve, con­tain­ing all of Dav­e’s 45+ years on the air and a library of old anti-fas­cist books. WFMU-FM is pod­cast­ing For The Record–You can sub­scribe to the pod­cast HERE.

FTR#1414: The Covid-19 “Op,” Part Nine–The Pandemic as World War III

Intro­duc­tion: This talk ana­lyzes the pan­dem­ic as World War III. Real­iz­ing the same effect that the 1918 flu pan­dem­ic had on young Ger­mans, the Covid-19 “Op” pro­pelled young peo­ple glob­al­ly toward the anti-immi­grant stance, ben­e­fit­ting Trump, the AfD in Ger­many and oth­er fas­cist par­ties.

Dis­cus­sion in this pro­gram must be sup­ple­ment­ed by the pre­vi­ous shows in this series, fea­tur­ing the text of Mr. Emory’s six arti­cles on the pan­dem­ic: FTR#‘s 1404, 5, 6 & 7, 1410, 1411, 1412, 1413.
We note that the role of Nazi and fas­cist ele­ments in the gen­er­a­tion of the pan­dem­ic, cit­ed below.

Of par­tic­u­lar impor­tance in eval­u­at­ing the pan­dem­ic as World War III is the eugenic dimen­sion of SARS CoV‑2.
Eugen­ics is fun­da­men­tal to Nazi and allied West­ern polit­i­cal and ide­o­log­i­cal and oper­a­tional man­i­fes­ta­tion. The fifth of Mr. Emory’s arti­cles (“The Eugenic Virus”) is includ­ed in this descrip­tion, for the con­ve­nience of the listener/reader.

Key Points of Analy­sis and Dis­cus­sion Include: Review of Munich Re’s crit­i­cal role in betray­ing Allied ship­ping to Nazi U‑Boats; Review of Munich Re’s cor­po­rate alliance with In-Q-Tel and Metabio­ta; Review of In-Q-Tel (the CIA and intel­li­gence com­mu­ni­ty’s ven­ture cap­i­tal arm); Review of Metabio­ta’s fun­da­men­tal link with Eco­Health Alliance; Dis­cus­sion of Eco­Health Alliance’s Peter Daszak and his ances­tral roots in Lvov, Ukraine; Dis­cus­sion of Lvov’s cen­tral his­tor­i­cal role in Ukrain­ian fas­cism, as a long-time epi­cen­ter of the OUN/B; Review of Bohdan Dasza­k’s prob­a­ble work at Janows­ka (a Nazi con­cen­tra­tion camp at Lvov); Review of the Gehlen Orga­ni­za­tion’s use of the Ukrain­ian fas­cist OUN/B, which con­trolled Lvov; Review of Gehlen’s approval of his work with the Amer­i­cans, giv­en by Admi­ral Karl Doenitz (co-head of the Nazi rump gov­ern­ment at Flens­burg); Review of the Gehlen Orga­ni­za­tion as a front for ODESSA Nazis; Dis­cus­sion of Count Lutz Schw­erin von Krosigk, finance min­is­ter of the Third Reich and the co-head of the Flens­burg rump Nazi gov­ern­ment (with Admi­ral Doenitz); Dis­cus­sion of the AfD mem­ber and par­lia­men­tar­i­an Beat­rix von Storch (Krosigk’s grand­daugh­ter) and her hus­band Sven; Review of the 1918 influen­za­’s appar­ent role in gen­er­at­ing fear and resent­ment of “for­eign­ers” and “immi­grants” and that fear’s role in dri­ving young peo­ple toward the Nazi Par­ty; Review of the pan­demic’s appar­ent dri­ving of young peo­ple into the arms of Trump and the AfD in Ger­many (among oth­er neo-fas­cist par­ties); Flori­da GOP Rep­re­sen­ta­tive Anna Pauli­na Luna’s exten­sive net­work­ing with the AfD; Luna’s belief in “inter­di­men­sion­al beings,” UFO’s and ancient aliens (described in the Bible, accord­ing to Luna); Review of Luna’s chair­ing of hear­ings into the JFK and MLK assas­si­na­tions; Dis­cus­sion of Erich von Daniken’s “Char­i­ots of the Gods” (co-writ­ten by the for­mer edi­tor of the Volkisch­er Beobachter–the Nazi Par­ty paper in Ger­many); Review of Robert Vin­son’s con­fir­ma­tion of CIA use of disc-shaped aircraft–“flying saucers”–at both Site 51 and Roswell Air Force Base; Review of the pro­found man­i­fes­ta­tion of eugen­ics poli­cies around the globe, includ­ing the Unit­ed States; Review of the Pfiz­er-BioN­Tech vac­cine as “The I.G. Far­ben vac­cine.”

FTR#‘s 1404, 1405, 1406, 1407: The Covid I9 “Op,” Parts 1 through 4

Intro­duc­tion: Mr. Emory reads into the record the first, longest and most impor­tant of his Covid-19 arti­cles fea­tured on his Patre­on plat­form.

Ini­tial­ly behind a pay­wall, Mr. Emory has made the oth­er arti­cles on the pan­dem­ic avail­able. This is his gift to human­i­ty. Hav­ing devot­ed years to the boil­er-plate research, broad­casts and the craft­ing of his arti­cles, Dave has placed the vehi­cle for human­i­ty’s sal­va­tion in their col­lec­tive hands.

If the human race does not come to terms with the infor­ma­tion con­tained in these arti­cles, it is doomed.

Spurred by alarms that AI’s could ful­fill the pre­dic­tion Mr. Emory made in Jan­u­ary of 1995 about AI’s exter­mi­nat­ing human­i­ty by cre­at­ing virus­es; a thought exper­i­ment by the bril­liant Michael Oster­holm in which he spec­u­lates about a new, glob­al pan­dem­ic and, once again, looks to bat caves in Chi­na (sigh).

FTR#‘s 1353, 1354, 1355 & 1356 Conversations with Monte

Intro­duc­tion: These broad­casts con­tin­ue explo­ration of the evo­lu­tion of Domes­tic Stay-Behind Oper­a­tions and the ter­ror­ism and vio­lence that are the char­ac­ter­is­tics of the oper­a­tions of “Team Trump.”

(This line of inquiry was intro­duced in FTR#‘s 1347 & 1348.)

In addi­tion, we recap key aspects of our research into Covid-19 as a bio­log­i­cal war­fare weapon.

After Monte presents a “smok­ing gun” about the suc­cess­ful estab­lish­ment of “Domes­tic Stay-Behind” net­works, the broad­casts present infor­ma­tion about the ter­ror­ism appar­ent­ly com­ing from “Team Trump” being direct­ed at elec­tion offi­cials, mete­o­rol­o­gists, hur­ri­cane relief work­ers and civic offi­cials in places like Spring­field, Ohio.

In addi­tion, we present doc­u­men­ta­tion of the res­o­nance between Trump’s racist ide­ol­o­gy, eugen­ics and the social and polit­i­cal philoso­phies of Adolf Hitler.

Heads We Win, Tails You Lose Your Retirement: Private Equity, Pension Funds, and the CRE Double Down

There’s blood in the water. With region­al banks poten­tial­ly look­ing at years of trou­ble ahead and inter­est rates well above the his­toric lows, dis­tress is per­me­at­ing the US com­mer­cial real estate (CRE) mar­kets. That’s been the CRE news, with the pri­vate equi­ty now pal­pa­bly excit­ed about all the dis­tressed real estate that’s bound to come on the mar­ket. A sup­ply and demand dis­lo­ca­tion that can turn blood in water into a gold laced sil­ver lin­ing for the enti­ties with cash on the side­lines. As we’ve seen, being the ‘cash on the side­lines’ oppor­tunis­ti­cal­ly wait­ing for things to fall apart or blow is a big part of the ‘Heads we win, tails you lose’ pri­vate equi­ty busi­ness mod­el. A busi­ness mod­el also root­ed in the fact that the fund man­agers charge high fees whether they’re invest­ments pan out or not. So we should­n’t be sur­prised to learn that one of the big invest­ment oppor­tu­ni­ties pri­vate equi­ty has been steer­ing bil­lions of dol­lars of pub­lic pen­sion mon­ey into in recent years is...*drumroll*...commercial real estate! With plans on shov­el­ing bil­lions more into the sec­tor going for­ward. JP Mor­gan is now pre­dict­ing these pen­sion funds are going to cre­ate a ‘floor’ in the CRE mar­kets. Yes, pri­vate equi­ty-led pen­sion funds are going to save the CRE mar­ket from com­plete col­lapse. At least that’s the plan. A plan that’s going to pay its pri­vate equi­ty man­agers hand­some­ly no mat­ter how it pans out. It’s all part of how Amer­i­can’s grow­ing retire­ment cri­sis is trans­lat­ing into pri­vate equi­ty’s grow­ing oppor­tu­ni­ty. The kind of cri­sis-dri­ven oppor­tu­ni­ty that pays hand­some­ly whether the under­ly­ing cri­sis grows or not.

The (Schedule F) Purge: Trump’s Big Revenge Plan, Brought to You By the Council for National Policy

It’s not a secret plot to purge the fed­er­al gov­ern­ment of its career staffers and replace them with par­ti­san hacks. It was a secret when then-Pres­i­dent Trump set the plot in motion 13 days before the 2020 elec­tion with an exec­u­tive order. The “Sched­ule F” exec­u­tive order plot — cen­tered around a bureau­crat­ic loop­hole dis­cov­ered in Jan­u­ary of 2019 by an obscure Trump admin­is­tra­tion offi­cial — opened the flood­gates. And while the mass fir­ings nev­er actu­al­ly took place in the final months of the Trump admin­is­tra­tion, those flood­gates remain open along with the plot. That’s the explo­sive rev­e­la­tion described in a pair of arti­cles put out by Axios back in July: The Sched­ule F plot con­tin­ues. The Trump admin­is­tra­tion isn’t wast­ing any time next time. A mass purge of the fed­er­al gov­ern­ment will be one of the first moves of a sec­ond Trump admin­is­tra­tion. And now that Don­ald Trump has thrown his hat in the ring one more time the prospect of see­ing this plot put into effect is very real. But as we’re going to see, that ongo­ing plot is real whether or not Trump gets the nom­i­na­tion and ‘wins’ the race. Because the ongo­ing Sched­ule F effort isn’t just a MAGA-land plot. The pow­er­ful Coun­cil for Nation­al Pol­i­cy (CNP) is deeply invest­ed in it, with the CNP’s Con­ser­v­a­tive Pol­i­cy Insti­tute (CPI) play­ing a lead­ing and grow­ing role. Sched­ule F is the plan. Or at least the start of the plan. As we’re also going to see, there’s a larg­er plot being devel­oped for what to do after the Sched­ule F purge and all the obsta­cles are out of the way. A larg­er plot for that appears to be inspired by none oth­er than Cur­tis “Men­cius Mold­bug” Yarvin, whose ideas for a post-demo­c­ra­t­ic Amer­i­ca are only grow­ing in elite con­ser­v­a­tive cir­cles. That’s the plot we’re going to be cov­er­ing in this post. The plans for Sched­ule F and beyond. Plans and tens of mil­lions of dol­lars and army of CNP-activists work­ing to make them a real­i­ty.