Hillary Exposed – Australia Withdraws Donation for Hillary’s Pay-to-Play Scheme

For all the fools who supported Hillary claiming her Foundation was not illegal and doing good, Now Australia, who donated $75 million to the Clintons tax free has joined Norway cutting their donations. All government will withdraw their support for Hillary’s foundation because it was just corruption – pay to play. Hillary even had the audacity to say her foundation would continue when she was President and would not be shut down.

This post was published at Armstrong Economics on Nov 24, 2016.

Foreign Governments Cutting off Funding for Hillary

Hillary supporters claimed that the Clinton Foundation was an innocent, ‘charitable’ organization. On his proposed first day to ‘Drain the Swamp,’ Trump will impose a LIFETIME BAN ON LOBBYING FOR FOREIGN GOVERNMENTS. Numerous foreign governments handed money to the Clintons purely for ‘influence.’ The corruption with Norway’s link to the Clinton Foundation extended to Obama. This was the reason Obama was given the Noble Peace Prize, and Jens Stoltenberg, who approved the half-billion donation from Norway to the Clintons, was made the head of NATO in Europe.
The Norwegian newspaper Hegnar reports that Norway is expected to slash their contributions to the Clinton Foundation now that Hillary has lost the presidency. Norway’s pay-off to the Clinton Foundation was strategic. According to local press, during the period 2007 to 2015, Norway sent 584 million to the Clinton Foundation. For the next three years, they promised the Clintons a further 92 million.

This post was published at Armstrong Economics on Nov 23, 2016.

The Road to Stagflation – – The Case Of Norway

We have all heard the incredible stories of housing riches in commodity producing hotspots such as Western Australia and Canada. People have become millionaires simply by leveraging up and holding on to properties. These are the beneficiaries of a global money-printing spree that pre-dates the financial crisis by decades. The road toward such outsized gains in property is not paved with some global savings glut concocted by theoretical economists, but have rather been a process whereby the US leveraged up its economy-wide asset base allowing the Chinese to print ‘dollars’ with abandon. China, being a top-down system favoured fix asset investments as a means to grow their economy; the newly minted ‘dollars’ were thus used to bid on international commodities. That this increased the nominal values of tangibles, especially commodities with a direct Chinese bid, should come as no surprise. However, now that the Chinese economy is trying to move away from a system based on slave labour, foreign direct investment and exports to an overleveraged world, fixed asset investment growth is slowing down. That this has negatively affected Perth and Calgary is clearly visible in property data. However, one stalwart bubble remain resolute in all of this. A bubble like few before it and which will inevitably burst spectacularly with dire consequences for the small community. If you look to the prosperous fringe of northern Europe, you will note a small resource-based economy that has gone completely haywire. A population befuddled by surging commodity prices in a world where monetary policy is a foreign import. Remember the Impossible Trinity; a country cannot have free capital flows, a fixed exchange rate and a sovereign monetary policy all at the same time. While exchange rates were supposedly freely floating, they were in practice partly managed because a too strong exchange rate would crowd out the non-commodity export based part of the economy. Capital was certainly free to flow across the border, but to dampen the effect on the exchange rate the central bank set its monetary policy with diktat from the Eccles Building in Washington DC via Frankfurt. The result of such folly? We present exhibit A, a gargantuan housing bubble equal to none before it.

This post was published at David Stockmans Contra Corner on August 19, 2016.

The Scourge of Negative Rates And Norway’s Shrinking Wealth Fund

Norway’s massive wealth fund is projected to get smaller this year for the first time since early last decade.
Budget documents on Wednesday showed the government expects the fund to shrink about 4 percent to 7.15 trillion kroner ($881 billion) at the end of 2016 after ending last year at 7.46 trillion kroner.
This historic projection comes as the fund is being bludgeoned on nearly all sides. Most pressing is probably that its returns from the 35 percent it must hold in bonds has all but evaporated amid negative yields across Europe. A rebound in the krone could also press down its value domestically as its foreign investments become worth less.
‘The fixed-income part has low returns in a situation where the bond yields are as low as they are and there’s been a lot of turbulence in the stock markets,’ Finance Minister Siv Jensen said in an interview on Wednesday. ‘But over time, the results of the global pension fund have been very good, and we are a long-term investor and can handle short-term fluctuations.’

This post was published at David Stockmans Contra Corner on May 16, 2016.


In the mid-1950s, neurophysiologist Carl Wilhelm Sem-Jacobsen built his own EEG lab at Gaustad psychiatric hospital in Norway with copious funding from the Rockefeller, Ford, and other ‘charitable’ foundations. He soon took on multiple US government contracts from the Air Force, the Navy, and NASA for research using electrodes implanted in the brains of psych patients to carry out what many have said was unethical research on them. It is widely believed today that Sem-Jacobsen was really doing his brain research, which continued for years, under the auspices of MKUltra.

This post was published at The Daily Sheeple on MARCH 2, 2016.

When Cash Is Outlawed… Only Outlaws Will Have Cash

Control, Tax, Confiscate
BALTIMORE – Harvard economist Larry Summers is a reliable source of claptrap. And a frequent spokesman for the Deep State.
To bring new readers up to speed, voters don’t get a say in who runs the country. Instead, a ‘shadow government’ of elites, cronies, lobbyists, bureaucrats, politicians, and zombies – aka the Deep State – is permanently in power.
Put simply, it doesn’t matter which party is in power; the Deep State rules. Want to know what the Deep State is up to now? Read Larry Summers.
‘It’s time to kill the $100 bill,’ he wrote in the Washington Post (another reliable source of claptrap).
The Deep State wants you to use money it can easily control, tax, and confiscate. And paper currency is getting in its way.
France has already banned residents from making cash transactions of 1,000 ($1,114) or more. Norway and Sweden’s biggest banks urge the outright abolition of cash. And there are plans at the highest levels of government in Israel, India, and China to remove cash from circulation.
Deutsche Bank CEO John Cryan predicts that cash ‘probably won’t exist’ 10 years from now. And here is Mr. Summers in the Washington Post:
‘Illicit activities are facilitated when a million dollars weighs 2.2 pounds as with the 500 euro note rather than more than 50 pounds, as would be the case if the $20 bill was the high denomination note.’
He proposes ‘a global agreement to stop issuing notes worth more than say $50 or $100. Such an agreement would be as significant as anything else the G7 or G20 has done in years.’
What makes Mr. Summers so confident that a ban on Ben Franklins would be a good thing? It turns out that a research paper – presented by Peter Sands, the former CEO of British bank Standard Chartered, and published for the Harvard Kennedy School of Government – says so.

This post was published at Acting-Man on February 18, 2016.

Venezuela is now the most expensive country in the world

Forget Norway. Japan. Iceland. Switzerland. Or any of the other places around the world that are notorious for being painful on the wallet.
Venezuela is now the most expensive country in the world, hands down.
To give you an idea, the cost of a 15-minute taxi ride to the beach yesterday afternoon totaled an eye-popping $158.
(I paid less than that to rent a helicopter in Colombia last week.)
With all of its vast mineral resources, Venezuela should be the most prosperous country in Latin America by far. And it once was.
But years of corruption, incompetence, and central planning have taken their toll.
Normally, when huge companies like Exxon Mobil extract oil out of the ground, they reinvest a portion of their profits back into improving their operations.
They spend money on more infrastructure, technology, and exploration. In short, they invest in the future.
But in Venezuela, guys like Hugo Chavez and his successor Nicolas Maduro spent years funneling oil revenues into idiotic social programs designed to keep themselves in power.
Venezuela did not invest in the future. Now its oil infrastructure is rotting. Production is in serial decline. And the oil price has collapsed to boot.

This post was published at Sovereign Man on October 7, 2015.

Boston Pulls 2024 Olympic Bid, Taxpayers Win

Hosting the Olympic Games isn’t as popular as it used to be. This week, Boston cancelled its bid to host the 2024 summer Olympics. The city was forced to cancel the effort in response to opposition to what The Nation called the ‘debt, displacement, and militarization of public space’ that the Olympics brings to every host city. Basically, the taxpayers and citizens of Boston weren’t in the mood to foot the bill for an enormous party for the richest and most powerful plutocrats of Boston and the United States.
While the Olympic Games may have once been about sport and international camaraderie, they were soon transformed into monuments to crony capitalism. Peter Hitchens traces this transformation back to Hitler and Goebbels who made the Olympics ‘into a torch-lit and grandiose spectacle,’ and the international Olympics committee has been fine with that ever since.
Today, the Olympics has become a way to score diplomatic points and showcase the wealth and influence of national governments. Indeed, it’s no wonder at all that the host cities of the Olympics have taken on a decidedly authoritarian flair with China and Russia rushing to make various bids. The International Olympic Committee (IOC) will soon get to choose between Kazakhstan and China for hosts of 2022′s winter games. (Oslo, Norway pulled out of the 2022 bidding process after the taxpayers resisted the IOC’s diva-like demands for tax-funded perks.)

This post was published at Ludwig von Mises Institute on AUGUST 1, 2015.

Huge Disconnect Between NATO Bellicosity And Declining Defense Spending Throughout Europe

NATO Secretary General Jens Stoltenberg, a former prime minister of Norway, took the podium during last week’s meeting of NATO defense ministers to hype the Russian threat to NATO while downplaying recent NATO military moves on Russia’s border.
While criticizing ‘a more assertive Russia investing heavily in defence,’ Stoltenberg countered that, ‘We do not seek confrontation [with Russia], and we do not want a new arms race.’
He then announced that the new enhanced NATO Response Force will triple in size to include 40,000 personnel instead of the originally announced 13,000 and that NATO would be setting up six new east European mini-headquarters in Bulgaria, Estonia, Latvia, Lithuania, Poland, and Romania.
A joint statement of the NATO defense ministers underscored Stoltenberg’s Russia points:

This post was published at David Stockmans Contra Corner by Daniel McAdams ‘ June 27, 2015.

We’re All Hedge Funds Now, Part 2: Tech Startups and Nigerian Bonds

Watching formerly risk-averse investors adapt to a negative interest rate world is almost as much fun as watching Europe try to keep Greece and Germany in the same financial family. In each case, success depends on all the parties becoming something they really don’t want to be.
On the negative interest rate front, consider this from yesterday’s Bloomberg:
No Risk Too Big as Traders Plot Escape From Negative Yields Norway’s $870 billion sovereign wealth fund said this month that it added Nigeria and lifted its share of lower-rated company debt to the highest since at least 2006. Allianz SE, Europe’s biggest insurer, is shifting from German bunds to bulk up on mortgages. JPMorgan Asset Management is buying speculative-grade corporate debt to boost returns.
Norges Bank Investment Management, the world’s largest sovereign wealth fund, increased corporate bonds rated BBB or lower to 8.3 percent of its debt assets at the end of last year from 7.5 percent in the prior quarter, the fund said March 13.
Among those assets are about $200 million of bonds issued by Petroleo Brasiliero SA. Brazil’s state-controlled oil company, the biggest corporate debt issuer in emerging markets, has seen its benchmark 2024 bonds tumble almost 10 percent since allegations of kickbacks and bribes emerged in November.

This post was published at DollarCollapse on March 23, 2015.

The Deflation Calamity Howlers Are Dead Wrong – -In Europe And Everywhere Else

The calamity howlers of deflation are out in force this morning owing to an absolute economic non sequitur. Namely, that year-on-year consumer prices in the EU came in at negative 0.2% in December, implying that ECB printing presses need to go into immediate overdrive.
Well, of course the CPI has momentarily weakened. Crude oil has experienced a monumental plunge of more than 50% since mid-2014. That has temporarily dragged down the euro zone’s reported CPI and the math isn’t all that complex. During the last 12 months, euro zone energy prices have fallen by 6.3%, and everything else is still 0.6% higher than a year ago.
So what’s the emergency? This is the very same CPI blip that occurred when oil collapsed in the second half of 2008. As is evident below, that episode did not generate some cascading plunge into economic darkness. In fact, the Eurozone CPI was back running above 2.5% in no time.
The truth of the matter is that the EU-19 is in clover because it’s consumers get a big break; and, on the other side of the economic equation, it produces almost no oil. Europe’s production is mainly in the UK and Norway and they have their own currencies. Accordingly, the ECB should be putting its printing presses on an extended sabbatical and declaring victory in the achievement of its ‘price stability’ objective.
Indeed, the notion that the hairline puncture of the zero inflation line shown above is a precursor of a deflationary calamity amounts to economic voodoo. There has been no structural change whatsoever in the Eurozone economy since 2008 when the last oil-driven CPI drop occurred, and therefore no empirical basis for the notion that wages and prices are about to descend into an accelerating downward spiral. If anything Brussels’s dirigisme regime has made prices and wages even more ‘rigid’ and ‘sticky’ owing to it’s avalanche of new regulations, subsidies and other economic interventions.
The plain fact is that the euro zone like the rest of the DM has an inflationary bias that is embedded in six decades of history during which the euro and its predecessor currencies lost purchasing power month-in-and-month-out. So households are finally getting what will undoubtedly be a short respite from the inflation tax, but that is the extent of it. There is not one rational reason to believe that the relentless upward march of the price level shown below will not presently resume its well-worn path.

This post was published at David Stockmans Contra Corner on January 7, 2015.