Interview: Banking Crisis Will Start in Europe

Watch the video above to see my most recent interview with Greg Hunter of USA Watchdog.

Legendary financial and geopolitical cycle analyst Martin Armstrong says nothing is going to get better by the end of 2022, and he is still forecasting “chaos” coming in 2023. Armstrong says the plunge in the stock market last week is all because of “extreme uncertainty.” Armstrong predicted a stock market crash two months ago and contends, “It’s not over.”

Europe is in big financial trouble with Russian natural gas turned off as a retaliation from the sanctions. Armstrong explains, “In Europe, I believe they are actually deliberately doing this, and this is Klaus Schwab’s ‘Great Reset.’ They know they have a serious problem. They lowered rates to below 0% in 2014. They just started raising interest rates. Meanwhile, you ordered all the pension funds throughout Europe to have more than 70% in government bonds. Then they took it negative. All the pension funds are insolvent. Europe is fiscal mismanagement on a grand scale. There is no way it can sustain itself, and we are looking at Europe breaking apart.”

So, could Europe suck the rest of the world down the tubes? Armstrong says, “Oh, absolutely. Europe is the problem. . . . The crisis in banking will start in Europe. . . . The debt is collapsing. They have no way to sustain themselves. The debt market over there is undermining the stability of all the banks. You have to understand that reserves are tied to government debt, and this is the perfect storm. Yes, the (U.S.) stock market will go down short term. We are not facing a 1929 event or a 90% fall here. . . . Europeans, probably by January of 2023, as this crisis in Ukraine escalates, anybody with half a brain is going to take whatever money they have and get it over here.”

Legendary

In 1999, Japanese fraud investigators accused Armstrong of collecting money from Japanese investors, improperly commingling these funds with funds from other investors, and using the fresh money to cover losses he had incurred while trading. United States prosecutors called it a three-billion-dollar Ponzi scheme. Allegedly assisting Armstrong in his scheme was the Republic New York Corporation, which produced false account statements to reassure Armstrong's investors. In 2001, the bank agreed to pay US$606 million as restitution for its part in the scandal.

Armstrong was indicted in 1999 and ordered by Judge Richard Owen to turn over fifteen million dollars in gold bars and antiquities bought with the fund's money; the list included bronze helmets and a bust of Julius Caesar. Armstrong produced some of the items but claimed the others were not in his possession; this led to several contempt of court charges brought by the SEC and the CFTC, for which he served seven years in jail until he reached a plea bargain with federal prosecutors. Under the terms of the agreement, Armstrong admitted to deceiving corporate investors and improperly commingling client funds—actions that according to prosecutors resulted in commodities losses of more than seven hundred million dollars—and was sentenced to five years in prison.

He was released from federal custody on 2 September 2011 after serving a total of eleven years behind bars.

The case against Armstrong was finally closed in 2017, with the distribution of about $80 million to claim holders by the receiver, according to court filings. Armstrong appealed the refusal of the receiver to transport his remaining possessions from storage lockers in New York and Pennsylvania to him in Florida, but the appeal failed in 2019. Concerning his felony conviction, Armstrong is "unrepentant", according to Bloomberg.

New EU round of sanctions on Russia (no, not from the Babylon Bee though it would be easy to make that mistake...:-)

28 Sep, 2022 23:36

EU to ban Russian toilet paper
Shaving products, soap, floss and deodorant are also on the proposed import ban list
EU to ban Russian toilet paper

Seeking to deprive Moscow of trade revenue over the conflict in Ukraine, the EU has proposed banning the import of Russian-made hygiene products, from soap and shaving needs to toilet paper and deodorant. The eighth wave of anti-Russian sanctions, unveiled in Brussels on Wednesday, would also ban the import of several steel products and attempt to impose a price cap on Russian oil.

“We do not accept the sham referenda and any kind of annexation in Ukraine, and we are determined to make the Kremlin pay for this further escalation,” European Commission President Ursula von der Leyen announced in Brussels. According to her, the proposed sanctions package is expected to deprive Russia of “an additional 7 billion euros ($6.7 billion) in revenues.”

The scheme requires EU residents to make do without Russian-made “beauty or make-up” products, shaving supplies, “personal deodorants,” dental floss, soap, and toilet paper, according to Politico.

READ MORE: EU proposes new ‘biting’ sanctions against Russia
Von der Leyen’s announcement comes just days after one of Germany’s pioneer toilet paper manufacturers, Hakle, filed for bankruptcy citing the skyrocketing prices of energy and source materials.

Germany faces toilet paper shortage
Hakle and other German companies had asked the federal government to cap the energy price as a way of staying solvent – but that was before a series of explosions on Monday damaged the two Nord Stream pipelines and cut off Germany from Russian natural gas, perhaps permanently. Meanwhile, government officials have been instructing Germans to shower less and use washcloths, to save on hot water.

Commenting on the proposed sanctions, Russian Foreign Ministry spokeswoman Maria Zakharova said that between the sanitation products and water savings, “one involuntarily recalls the famous letter from 200 years ago,” in which the French Emperor Napoleon allegedly told his wife Josephine, “Do not wash.”

The EU also intends to sanction philosopher Aleksandr Dugin, whose daughter Darya was assassinated last month in a Moscow car bombing. Russia has identified two suspects in the terrorist attack, both Ukrainian nationals.

Martin is legend with his computer Socrates forecasts. He has consistently forecasted all the financial meltdowns and geo political events since I started following him in 2002. Given the fact DOZENS of sovereign nations have called upon him for advice, he is worth following.

The nay sayers are jealous, as they put their trust in “ modern” monetary policy, and “men”, causing them losses. Marin’s forecasts are computer generated, no “ human” opinions… just hard to uncover cycles.

Martin’s “forecasts “ have benefited me greatly in the past 20 years- many events occurred to the EXACT day. All would do well to listen to his computer, then decide for yourself.

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