Alejandro A. Tagliavini

"Quizá haya enemigos de mis opiniones, pero yo mismo, si espero un rato, puedo ser también enemigo de mis opiniones. ", J.L. Borges

As you perceive the (Trans) truth, or the Kafkaesque world

By Alejandro A. Tagliavini *

                  It’s summer. It is a large, sunny, airy room, the walls are chalk white and I never thought it was a madhouse … People enter, scared, tense and stating that they were worried because the walls have turned black (!?). I look around and see, without saying a word, that the walls, of course, have not changed since nothing happened naturally for them to change.

                  I look at these people again, surprised and prudent, without speaking, until I can figure out what was happening. Obviously, the “experts” and the “health authorities” -political- have instilled in them a formidable panic transmitted massively by the media that, in the end, are always official, always repeating as true what “the authorities” or “specialists” pontificate.  And they have been told that the walls are turning black. Terrifying.

                   Despite everything, I try to tell them carefully and calmly that there is no reason to be scared and that, in fact, the walls are still white. Unusually, anger is unleashed, they get furious, they yell at me and accuse me of not seeing “reality” -that the media transmits to them- and they show me minimal black points within the immense white, ensuring that this is what matters. The insults I receive are unthinkable under normal conditions, it is that panic, the inability to reason, absurdity and violence always go together and inseparable. First corollary: never act under the influence of panic.

                    We are at the end of 2019 and the beginning of 2020. The health “authorities” are beginning to speak of a “coronavirus”. For anyone who does not panic, it is common sense that nature cannot change so radically and threaten humans in such a way. A rational and dispassionate analysis of the studies and statistics shows that it is another strain of the flu.

                    If the deaths are somewhat higher than normal, of a flu season, it is because they are over-counted and because of protocols and treatments, such as intubation, which is highly risky and it can leave important sequelae, and, with proper treatment, can and should be avoided. My personal physician treated more than 300 cases of coronavirus, and, to my knowledge, none died. And by the way, I did not do a single day of confinement, I do not wear a mask and I have not been vaccinated and my health is excellent, I mean, excellent just like the people around me.

                   I had already been writing that panic was the weapon that totalitarians use to dominate, because out of fear people accept that their personal freedoms are violated, as when a thief at gunpoint manages to take the loot to them. To which must be added the not unimportant FOMO (in the financial market: fear of missing out).

                   In fact, many told me, as an argument for me to accept the “coronavirus drama” that if I did not do it I would be left alone and, to a large extent, it was fulfilled, many important media stopped publishing my columns, regardless of the fact that now I hardly write, and in one of my last columns (Coronavirus: the worst may come later) the expletives were massive.

                    Of course, today everyone knows that the draconian quarantines only served to destroy. The same people who were insulting today surely would not do it, and the media that insistently published the “stay at home” today know that this was counterproductive. But they won’t recognize it, never expect a mea culpa. By the way, says Egon von Greyerz that he has “spent part of the summer -August 2021- in Sweden and it has been comforting to see people lead their lives normally. You hardly ever see someone with a mask anywhere. “

                  But even as very few thinks of draconian quarantines anymore, they still insist that there is a danger and that you have to get vaccinated. Among many cases, I came across a person who told me that she, her sister, her daughter, and her husband had suffered significant side effects – high fever, headaches and muscle aches – after the second dose.

                Logically, I expected her to conclude that we should not get vaccinated, especially considering that these collateral reactions are the language of the body to warn that has been intoxicated and no one knows, only God, what the effect of that intoxication will be over time. Incredibly, because of the panic that does not allow her to reason, she turned the logic around and concluded, repeated, what the mass media tell her: that we should all get vaccinated to “end once and for all with this nightmare that covid 19 brought us.”

               Although there are still many governments that commit criminal acts such as Australia that prohibits Ivermectin to induce vaccination in the absence of alternatives, in general the “authorities” are increasingly moving away from mandatory vaccination. The one of England has announced that it is setting aside “Nazitarian passports” as a friend of mine calls them, while Biden faces fierce resistance, and the State of Michigan announces that “workers with natural immunity do not need to be vaccinated.”

              Obviously, the authorities, institutions and, above all, the mass media will never admit they were so wrong and lied in such a way. So, they will never accept that it was just one more strain of the normal flu. But as the time will come when they will no longer be able to hide that the wall is white, and that the color has not changed, they will create the “trans-truth”: they will say that, perhaps, the wall is white but that “the authorities, the experts” and they perceive it as black and that’s what it’s worth.

              By the way, as I am not willing to accept trans-truth, those who have stopped publishing my columns will probably not republish them anyway.

             In any case, we will have returned to normality, to the same as always given that the nonsense of the “new normal” no one proposes it anymore. The problem is that, if the error is not recognized, if they do not tell the truth, it is most likely that we will fall back into another lie with serious consequences. Like the “war against terrorism” advised by the “experts” -the Fauci- of then that led the US to invade Afghanistan to “end the Taliban” and today, after thousands of deaths, massive destruction, and thousands out of millions of dollars spent, the US military offers to collaborate with the Taliban themselves to confront Isis.

           Luckily, they have not accepted the collaboration, otherwise this would end in a defeat against Isis pretending to collaborate with them for another war.

* Senior Advisor at The Cedar Portfolio  and Member of the Advisory Council of the Center on Global Prosperity, de Oakland, California



Según percibes la (Trans) verdad, o el mundo kafkiano

Por Alejandro A. Tagliavini*

                  Es verano. Es una habitación grande, soleada, aireada, las paredes son de color blanco tiza y nunca pensé que se tratara de un manicomio… Entran personas, asustadas, tensas y afirmando que estaban preocupadas porque las paredes se han vuelto negras (¡!¿?). Miro alrededor y veo, sin decir palabra, que las paredes, como es lógico, no han cambiado desde que nada ocurrió naturalmente para que cambiaran.

                  Vuelvo a mirar a estas personas entre sorprendido y con prudencia, sin hablar, hasta poder dilucidar qué es lo que estaba pasando. Obviamente, los “expertos” y las “autoridades sanitarias” -políticas- les han infundio un formidable pánico trasmitido masivamente por los medios que, al final siempre son oficialistas, siempre repiten como cierto aquello que pontifican “las autoridades” o “los especialistas”. Y les han dicho que las paredes se están volviendo negras. Terrorífico.

                   A pesar de todo, intento decirles con prudencia y calma que no existe motivo para asustarse y que, de hecho, las paredes siguen siendo blancas. Insólitamente se desata la ira, son negras me gritan y me acusan de no ver “la realidad” -que les trasmiten los medios- y me muestran mínimos puntos negros dentro del inmenso el blanco asegurando que eso es lo que importa. Los improperios que recibo son impensables en condiciones normales, es que el pánico, la incapacidad de razonar, lo absurdo y la violencia siempre van juntas e inseparables. Primer corolario: jamás debe actuarse bajo influjo del pánico.

                    Estamos a fines del 2019 y principios del 2020. Las “autoridades” sanitarias comienzan a hablar de un “coronavirus”. Para cualquiera que no entra en pánico, resulta de sentido común el que la naturaleza no puede cambiar de manera tan radical y amenazar al ser humano de esa manera. Una análisis racional y desapasionado de los estudios y estadísticas muestran que se trata de otra cepa de la gripe.

                    Si los muertos superan en algo lo normal, de una temporada gripal, se debe a que los contabilizan exageradamente y a los protocolos y tratamientos como, por ejemplo, la intubación que es altamente riesgosa y que puede dejar secuelas importantes y, con un tratamiento adecuado, puede y debe evitarse. Mi médico personal atendió más de 300 casos de coronavirus y, hasta donde sé, ninguno falleció. Y, por cierto, no hice un solo día de confinamiento, no uso mascarilla y no me he vacunado y mi salud es excelente, digo, excelente al igual que las personas que me rodean.

                   Ya venía escribiendo que el pánico era el arma que utilizan los totalitarios para dominar, porque por miedo las personas aceptan que sus libertades personales sean conculcadas, como cuando a punta de pistola un ladrón consigue que se le entregue el botín. A lo que hay que sumarle el no poco importante FOMO (en el mercado financiero: fear of missing out, el miedo de quedarse afuera).

                 De hecho, muchos me dijeron, como argumento para que aceptara el “drama del coronavirus” que si no lo hacía me quedaría solo y, en gran parte se cumplió, muchos medios importantes dejaron de publicar mis columnas, independientemente de que ahora casi no escribo, y en una de mis últimas columnas (Coronavirus: después puede venir lo peor) los improperios fueron masivos .

                    Por supuesto que hoy todos saben que las cuarentenas draconianas solo sirvieron para destruir. Los mismos que insultaban ya hoy seguramente no lo harían, y los medios que de manera insistente hasta el hartazgo publicaban el “quédate en casa” hoy saben que eso fue contraproducente. Pero no lo reconocerán, jamás esperes un mea culpa. Por cierto, cuenta Egon von Greyerz que ha “pasado parte del verano -agosto 2021- en Suecia y ha sido reconfortante ver a la gente llevar sus vidas con normalidad. Casi nunca ves a alguien con una máscara en ningún lado”.

                  Pero aun cuando ya muy pocos piensan en cuarentenas draconianas, todavía siguen insistiendo en que existe un grave peligro y que hay que vacunarse. Entre los muchos casos, me encontré con una persona que me dijo que ella, su hermana, su hija y su marido habían sufrido importantes efectos colaterales -alta fiebre, dolores de cabeza y musculares- luego de la segunda dosis.

                Lógicamente, esperaba que concluyera que no debíamos vacunarnos, sobre todo teniendo en cuenta de que estas reacciones colaterales son el idioma del cuerpo para avisar que ha sido intoxicado y nadie sabe, solo Dios, cuál será el efecto de esa intoxicación con el tiempo. Increíblemente, como producto del pánico que no la deja razonar, dio vuelta la lógica y concluyó, repitió, lo que le dicen los medios masivos: que debíamos todos vacunarnos para “terminar de una vez con esta pesadilla que nos trajo el covid 19”.  

               Aunque todavía hay muchos gobiernos que cometen actos criminales como el de Australia que prohíbe Ivermectin para inducir la vacunación ante la falta de alternativas, en general las “autoridades” se alejan cada vez más de la vacunación obligatoria. El de Inglaterra ha anunciado que deja de lado los “pasaportes nazitarios” como los llama un amigo mío, mientras que Biden enfrenta una resistencia feroz y el Estado de Michigan anuncia que “los trabajadores con inmunidad natural no necesitan vacunarse”.

              Obviamente las autoridades, instituciones y, sobre todo, los medios masivos nunca reconocerán haberse equivocado y mentido de tal forma. De modo que jamás aceptarán que solo fue una cepa más de la gripe normal. Pero como llegará el tiempo en que ya no podrán disimular que la pared es blanca, y que no ha cambiado el color, crearán la “transverdad”: dirán que, quizás, la pared es blanca pero que “las autoridades, los expertos” y ellos la perciben negra y eso es lo que vale.

              Por cierto, como no estoy dispuesto a aceptar la transverdad, probablemente no vuelvan a publicar mis columnas aquellos que han dejado de hacerlo.

             En cualquier caso, habremos vuelto a la normalidad, a la de siempre dado que a la tontería de la “nueva normalidad” ya nadie la propone. El problema es que, si no se reconoce el error, si no se sinceran y dicen la verdad, lo más probable es que volvamos a caer en otra mentira con graves consecuencias. Como la “guerra contra el terrorismo” que aconsejaron los “expertos” -los Fauci- de entonces que llevó a EE.UU. a invadir Afganistán para “terminar con los talibanes” y hoy, después de miles de muertos, masiva destrucción y miles de millones de dólares gastados el ejército de EE.UU. se ofrece a colaborar con los mismos talibanes para enfrentar al Isis.

           Por suerte, no han aceptado la colaboración, de otro modo esto terminaría en una derrota frente al Isis pretendiendo colaborar con ellos para otra guerra.

*Miembro del Consejo Asesor del Center on Global Prosperity, de Oakland, California



El mundo retorna lentamente a la realidad y el sentido común

Johnson Scraps Vaccine Passports, Readies U.K. for Booster Shots

By Emily AshtonSeptember 12, 2021, 8:00 PM EDT

  •  Premier to announce new approach in tackling Covid this winter
  •  Abandons vaccine certitication after revolt from Tory MPs
Boris Johnson prepares to greet Sebastian Pinera, Chile's president, in London on Sept. 10.
Boris Johnson prepares to greet Sebastian Pinera, Chile’s president, in London on Sept. 10. Photographer: Hollie Adams/Bloomberg

Boris Johnson will unveil the U.K.’s new approach in tackling Covid this week, preparing the country for a mass booster vaccination program and potential shots for teenagers — but scrapping plans for mandatory vaccine certificates in England.

The prime minister is expected to hold a press conference Tuesday outlining how a beefed-up inoculation program will try to keep the virus under control over the high-risk period of autumn and winter.

El fanatismo islámico nace en los saudíes, apoyados por Occidente

FBI Unveils Memo on Alleged Saudi Involvement in 9/11 Attack

By Rich Miller

 Families of victims have pressed U.S. to declassify more

 Saudi Arabia has long denied any role in the terrorist strike

A man stands in the rubble of the first World Trade Center towers on Sept. 11, 2001.
A man stands in the rubble of the first World Trade Center towers on Sept. 11, 2001. Photographer: Doug Kanter/AFP/Getty Images

The Federal Bureau of Investigation declassified a secret internal memo on its investigation into allegations that Saudi Arabia’s government provided assistance to the terrorists that carried out the Sept. 11 attacks on the U.S.  

The 16-page, partially redacted memo doesn’t draw any conclusion on the allegations, though it details links and contacts between the terrorists and Saudi nationals living in the U.S. at the time, including one of the country’s diplomats. The memo relates to contacts in the U.S. by Saudi-born Nawaf al Hazmi and Khalid al Mihdhar, who were among the hijackers that crashed a passenger jet into the Pentagon.

5 Divergences In The Stock Market To Keep An Eye On This Fall

Authored by Bryce Coward via Knowledge Leaders Capital blog,

With the S&P 500 up nearly 20% and international developed stocks up 13% year-to-date, the markets are having a banner year so far. But, we are squarely in the weakest seasonal months of the year (September and October) and we are starting to see the first signs of divergences between stocks and variables that are related to stock market performance. Not only that, but we have a Federal Reserve that will likely soon lay plans for asset purchase tapering; and a Washington DC that is grappling the debt ceiling, potential government shut downs, potential default, and an infrastructure bill that may include significant tax increases. Needless to say, between market divergences, seasonality, and policy dynamics, there’s a growing potential for the stock market to see some increased volatility in the near future.So, here are the things we are looking at and will continue to monitor this fall to help ascertain whether 3% dips should be bought or whether a deeper correction is in the offing.

Number 1: Consumer confidence.

Consumer confidence, whether measured by the Conference Board or the University of Michigan is starting to “come off” in a pretty big way. This isn’t the post to opine about the reasons for the decline (inflation, unemployment, housing shortages, gas prices, etc.), but we do note that consumer confidence is highly correlated to stock market performance. This makes sense since fully 57% of US households own stocks. So, it’s interesting that consumer confidence (red line) appears to be collapsing but stocks have held their own (blue line).

In this next chart we show the spread between the YoY % change in the S&P 500 and that of consumer confidence, and we observe that this spread has only been higher on a few brief occasions.

This begs the question, will stocks fall or consumer confidence rise?

Number 2: Economic Activity

In a similar vein, stocks are outpacing real time gauges of economic activity by a wide margin. Here we plot the change in the ISM manufacturing index (red) against the S&P 500 (blue). Activity is slowing while stocks remain firm, which is odd since earnings are a function of economic activity.

In this next chart we can see more clearly by how much stocks are “outperforming” economic growth. Again, we plot the spread between the yearly change in the S&P 500 and the ISM manufacturing index.

It’s in nosebleed territory, implying either growth picks up steam or stocks settle down.

Number 3: Breadth

We are beginning to see a deterioration in internal breadth within the stock market. The S&P 500 is close to its all-time highs and trading almost 10% above its 200 day moving average. But, the percent of stocks trading above their own 200 day moving average peaked out in Q1 and is rolling over.

In other words, the market is being led by fewer and fewer stocks on each subsequent advance, a setup that can be a precursor for correction, if it gets worse.

Number 4: Waning Participation

Sticking with indicators of market breadth, we note that the Bloomberg advance-decline line for NYSE stocks peaked last June and has been developing a topping pattern ever since.

This, too, shows waning participation in the market’s advance, which is often precedes corrections deeper than the 3% average correction we’ve seen so far this year.

Number 5: Credit

Finally, while early, credit conditions are no longer improving. Typically, advances in stocks are accompanied by tightening credit spreads in the corporate bond market, since rising stock prices are at least in part a function of improving fundamentals. Yet, corporate credit spreads stopped narrowing in June even as the S&P 500 tacked on another 7%. If spreads take out recent wides, we would view it as a sign that bond investors are starting to get jittery about corporate fundamentals, which is rarely good news for stock prices.

To be clear, none of these divergences individually are screaming for defensive action. But, taken together, they form a mosaic that suggests the antennae should be a little more piqued than normal. This is especially true given that we’re still in hurricane season, both from a market and policy perspective…and of course from a weather perspective too.

“Es refrescante ver la vida normal en Suecia”

Authored by Egon von Greyerz via GoldSwitzerland.com,

The final phase of Empires normally ends with the same signals whether it was 2000 years ago in Rome or  today in the US.

One of the first signs is losing wars together with excessive debts, deficits, devaluations and decadence  The US being defeated and hurriedly fleeing from Afghanistan in a few days clearly signifies the end of the US empire.

The mighty US military has in the last few decades conducted disastrous wars against very small countries with no big armies or weaponry. Vietnam, Iraq, Libya and Afghanistan come to mind but there are many more as we show below.

Brown’s University has just made a study of the US cost of wars since 9/11. They arrive at a staggering $8 trillion and the loss of 900,000 lives .

So in the last 20 years, the US has spent $8 trillion or 40% of annual GDP on conducting totally unsuccessful wars. The report also states that even after the exodus from Afghanistan the US is still involved in wars in over 80 countries.


The cost of being involved in some kind of war activity in 85 countries will continue to cost the dying US empire dearly for decades to come.


Are the 2020s going to be a return to Orwell’s 1984 with Big Brother watching us everywhere?

Well, it certainly looks like many governments and the elite is leading us in that direction.

Covid has been a superb excuse for controlling the people in a number of countries. Free speech has been banned in the media and unacceptable censorship is now the rule on social media whether it relates to vaccines, climate or race.

Dont you see that the whole aim of Newspeak is to narrow the range of thought? In the end we shall make thoughtcrime literally impossible, because there will be no words in which to express it.

― George Orwell, 1984

But it gets worse as we are seeing severe clampdowns on free movement. There are  lockdowns, quarantines, restrictions or bans on travel both domestically and internationally, ban on shopping, restaurants, theatres, cinemas, stadiums with offices and schools closed. And then we are not allowed to see friends, parents, or even go to work. The list of restrictions is endless and they seem to be deliberately and regularly turned on and off in order to control confuse the people.

Doublethink means the power of holding two contradictory beliefs in one’s mind simultaneously, and accepting both of them.

― George Orwell, 1984

There have been great variations of these restrictions. Countries like Australia and New Zealand have locked people in. Then we have, for example, Sweden on the other hand which has had virtually no restrictions, and no closure of schools, shops or offices. No masks have ever been mandated.

I have spent part of the summer in Sweden and it has been refreshing to see people conduct their lives normally. You hardly ever see anyone wearing a mask anywhere. The Swedish government doesn’t get involved and instead it is the health officials who decide. The Chief Epidemiologist Tegnell in Sweden has conducted a non-intervention policy, telling the people to take their own precautions. He doesn’t consider that masks fulfil any purpose either but rather that they have a negative effect. Quite a contrast to Australia. When it comes to infections and deaths, Sweden has fared better than many countries.

As regards treatment of Covid, conventional medicine has had very limited success. But sadly, alternative treatments are totally suppressed. This despite major parts of India and Central Africa having used Ivermectin with almost 100% success and virtually eliminated Covid. Some hospital doctors in the US have also used Ivermectin with great results.

The map below shows in blue the area of Africa where Ivermectin has been successfully used. The blue line at the bottom shows deaths per 100,000 in that region. A massive difference to the deaths (yellow line) in the yellow areas.

Ivermectin was invented 50 years ago against parasite infestations. Over 4.5 billion doses have been given and the creator received the Nobel prize. Still the WHO, Big Pharma and  Western governments refuse to even test Ivermectin against Covid. It is too cheap to produce and compete with the vaccines.


In the US and the UK history is now being rewritten especially at university campuses. Statues, paintings and books related to slavery are being taken down even if the historical  person was a major benefactor to the university in question.

Every record has been destroyed or falsified, every book rewritten, every picture has been repainted, every statue and street building has been renamed, every date has been altered. And the process is continuing day by day and minute by minute. History has stopped. Nothing exists except an endless present in which the Party is always right.

― George Orwell, 1984

The problem with rewriting history is where do you stop? Throughout history there have been wars and invasions which were all unjust. But we can’t reverse history. Just take America as an example. Both North and South America have been invaded and taken over by European countries in the last few hundred years, whether they were English, French, Spanish or Portuguese.

In North America a major part of the original population was killed and the rest moved to reservations. If we rewrite history the Europeans must obviously pull out and give the land back to the Indians.

Hardly practical!

The Ministry of Peace concerns itself with war, the Ministry of Truth with lies, the Ministry of Love with torture and the Ministry of Plenty with starvation. These contradictions are not accidental, nor do they result from from ordinary hypocrisy: they are deliberate exercises in doublethink

― George Orwell, 1984


Rich Land – Poor Land – Destitute Land is the natural cycle of most countries and empires.

As a country goes from rich to poor, it finds it hard to accept that it is in a permanent decline.

For some countries like Venezuela that can’t borrow money externally, the process from abundance to destitution was very quick and for others like the Roman Empire it took centuries.

For more powerful countries, running out of money is no problem. Since deficits are only  believed to be temporary, they can easily be financed by debt. And this is exactly what happened to the US empire in the early 1960s. There was gradually less money in the till than the country spent, so it started borrowing.

For 60 years the US has increased the Federal debt every year with the exception of 4 years. So the US is now living on not just borrowed money but also borrowed time.

Excessive debt has throughout history killed empires and the already-dying US empire will be no exception.

It took 200 years for the US to reach just under $1 trillion. Reagan managed to treble that debt in just 8 years. Obama inherited a $10t debt from Bush and doubled it to $20t in 8 years.

With debt on average doubling every 8 years since Reagan became president, my target,  set 5 years ago, was that in 2025 the US debt would be $40t. But with Biden’s profligacy I would now expect that to be at least $50t !!!!!  Just think about it, in 2025 US debt will be 50x higher than when Reagan took over and 100x higher since the gold window was closed in Aug 1971.

So we are now in the exponential phase of the debt explosion. Exponential moves are almost without exception terminal as I explained in this article from 2017:

There is a more scientific illustration how these exponential moves occur and also how they end.

Imagine a football stadium which is filled with water. Every minute one drop is added. The number of drops doubles every minute. Thus it goes from 1 to 2, 4, 8 16 etc. So how long would it take to fill the entire stadium? One day, one month or a year? No it would be a lot quicker and only take 50 minutes! That in itself is hard to understand but even more interestingly, how full is the stadium after 45 minutes? Most people would guess 75-90%. Totally wrong. After 45 minutes the stadium is only 7% full! In the final 5 minutes the stadium goes from 7% full to 100% full.

It is of course impossible to predict where we are in this debt explosion. If we are in the final 5 minutes then debt can still increase almost 15x. And if we get hyperinflation which is very likely, the increase could be substantially higher.

As debt will have grown 50x since 1981 by 2025, tax revenues will probably stay at a measly $3.5t as the economy slows down or even collapses. The consequences are obvious. When the interest rates rise, which is guaranteed as the Fed loses control, the US empire can’t even afford to pay the interest and will default.

This is how all empires end, they lose not only wars but also total control of money.

What a bloo-y mess!

The only problem is that once fortunes have turned, there is a very, very long way back to prosperity. This is what history and the laws of nature teach us although most political leaders are too arrogant to learn from history.


As empires reach the end game, money printing and debt accelerates as I show above. This leads to a total debasement of the currency. For example the Roman silver coin, the Denarius, lost almost 100% of its silver content between 180 and 280 AD.

The US dollar of the dying US empire has not fared much better and has lost 98% in real terms since 1971. As the currency collapses more and more fake money must be produced to keep the illusion going. By definition, money which is created without any service or goods offered in return is always fake and has zero real value.

During times of rapid credit expansion with fake money, the ones standing nearest the printing press always benefit greatly since they have access to the money before it totally loses its value. This happened for example during the hyperinflation in Zimbabwe or in Venezuela and it is now happening in the US.

The chart below clearly demonstrates how the wealthy Americans are getting the money first and rapidly increasing their wealth in relation to GDP. In 1982 the 400 wealthiest Americans had a wealth equal to 2% of GDP and today their share has risen 9-fold to 18% of GDP. Wealth inequality is rampant, becoming a neo-feudalism.


As debts, deficits and currency debasement accelerate, the consequences are crystal clear and inevitable.

The epic bubble in stocks is coming to an end and could implode at any time. Whether it expands further due to the massive expansion in money supply is irrelevant. Neither a company nor a country can show real growth based on fake money. When the bubble bursts, the world will learn that it consisted mainly of air that will just evaporate.

As the markets implode, so will all the debt and the bubble assets such as stocks, bonds and property. These asset values were all illusory, based on hope and fake money. Once the markets start breaking down, we will see the same process as the stadium above filling up with water. But this time it will be in reverse and values will decline by unthinkable percentages in the “first 5 minutes”. Remember that in the last 5 minutes, the stadium went from 7% full to 100% full.

For our investors and ourselves, we have owned physical gold and some physical silver in Switzerland (obviously outside the financial system) since 2002 when gold was $300 and silver $4.

We were convinced then that the risks we saw necessitated a high percentage of one’s financial assets in gold for wealth preservation purposes. What has happened since  completely confirms our position.

But the world has still not understood how undervalued gold is in relation to the massive expansion of money supply. Therefore I will continue to show the graph below which tells us that gold is as cheap to buy today as it was in 1971 when gold was $35 or in 2000 when gold was $288. In the face of the dying US empire, there is no better asset to own.

Watch: Rand Paul Calls For “Five Years In Jail” For Fauci Lying To Congress

Authored by Steve Watson via Summit News,

Appearing on Hannity Wednesday night, Senator Rand Paul responded to the emergence of yet more proof that Anthony Fauci lied to Congress regarding the funding of coronavirus gain of function research, reminding viewers that the offence is a felony punishable by five years jail time.

“I find that hard to believe that we still would have someone with such poor judgment, who believes that even a pandemic would be worth it, that this person is in charge of the research for our government, I find that astounding,” Paul declared.

“The judgment that we should continue to fund this lab and—that the virus in all likelihood came from the lab. I think it’s such incredibly poor judgment that he should be immediately removed,” Paul added.

The Senator added, “We’ve referred it to the Department of Justice. I don’t think Biden’s Department of Justice will do anything with it but yes, it is very dangerous to have public officials who we need to have trust in coming and lying to us, but [Fauci] has lied dozens of times.”

Paul continued:

“Usually, he tells us that it’s for our own good but yes, he has dissembled, he has obfuscated—there’s other nicer words—but he has definitely lied to the American public and he should be held responsible but not just that.”


Adding to Paul’s comments, Senator Tom Cotton called for prosecution against Fauci “to the fullest extent of the law.”

Cotton urged “You know, for 18 months, he’s been saddling up his moral high horse and clucking his tongue at college kids who want to go celebrate a football game in an outdoor stadium on a nice fall day or parents who don’t want their kindergartners to have to wear masks their entire lives, telling you you have to wear three masks, when all along, he’s been lying, not just to Congress, but to the American people about his role in funding the very reckless, dangerous research at a Chinese Communist lab that unleashed this pandemic on the world.”

“It is a disgrace and it’s time for Tony Fauci to be held accountable,” Cotton added.


Meanwhile, Fauci appeared on both MSNBC and CNN, with neither network even bothering to ask a single question about the new report detailing how Fauci funded the Chinese research and then lied about it.

¿Menos inflación para el euro? ¿Subirá?

El BCE anuncia un

Por Laura Sánchez

Investing.com – Tal y como esperaba el mercado, el Banco Central Europeo (BCE) no ha tocado los tipos de interés de referencia en su reunión de este jueves (0,00%). El tipo de la facilidad de depósito se mantiene igualmente en el -0,50% y el tipo de facilidad marginal del crédito sigue en el 0,25%.

No obstante, anuncia una reducción de compras de bonos, como también se sospechaba, si bien el organismo no concreta ninguna cifra.

Ahora, toda la atención se centra en la presidenta del organismo, Christine Lagarde, y en su rueda de prensa prevista para las 14:30 hora española.

A continuación, les detallamos el contenido del comunicado del BCE:

Sobre la base de una evaluación conjunta de las condiciones de financiamiento y las perspectivas de inflación, el Consejo de Gobierno estima que se pueden mantener condiciones de financiamiento favorables con un ritmo moderadamente más bajo de compras netas de activos bajo el programa de compras de emergencia pandémica (PEPP) que en los dos trimestres anteriores.

El Consejo de Gobierno también confirmó sus otras medidas, a saber, el nivel de los tipos de interés clave del BCE, su orientación prospectiva sobre su probable evolución futura, sus compras en el marco del programa de compra de activos (APP), sus políticas de reinversión y sus operaciones de financiación a más largo plazo. Específicamente:

Tipos de interés clave del BCE

El tipo de interés de las operaciones principales de financiación y los tipos de interés de la facilidad marginal de crédito y la facilidad de depósito se mantendrán sin cambios en el 0,00%, el 0,25% y el -0,50%, respectivamente.

En apoyo de su meta de inflación simétrica del dos por ciento y en línea con su estrategia de política monetaria, el Consejo de Gobierno espera que los tipos de interés clave del BCE se mantengan en sus niveles actuales o inferiores hasta que vea que la inflación alcance el 2% mucho antes de que finalice el año su horizonte de proyección y de manera duradera para el resto del horizonte de proyección, y considera que el progreso realizado en la inflación subyacente está lo suficientemente avanzado como para ser consistente con la estabilización de la inflación en dos por ciento en el mediano plazo. Esto también puede implicar un período transitorio en el que la inflación esté moderadamente por encima de la meta.

Programa de compra de activos (APP)

Las compras netas en el marco de la APP continuarán a un ritmo mensual de 20.000 millones de euros. El Consejo de Gobierno sigue esperando que las compras mensuales de activos netos en el marco del APP se prolonguen durante el tiempo que sea necesario para reforzar el impacto acomodaticio de sus tipos de interés oficiales y finalicen poco antes de que comience a subir los tipos de interés clave del BCE.

El Consejo de Gobierno también tiene la intención de continuar reinvirtiendo, en su totalidad, los pagos de principal de los valores con vencimiento adquiridos en el marco de la APP durante un período prolongado de tiempo después de la fecha en que comience a subir los tipos de interés clave del BCE y, en cualquier caso, durante el tiempo que sea necesario. mantener condiciones favorables de liquidez y un amplio grado de acomodación monetaria.

Programa de compras de emergencia pandémica (PEPP)

El Consejo de Gobierno continuará realizando compras de activos netos en el marco del PEPP con una dotación total de 1,85 billones de euros hasta al menos finales de marzo de 2022 y, en cualquier caso, hasta que juzgue finalizada la fase de crisis del coronavirus.

Sobre la base de una evaluación conjunta de las condiciones de financiamiento y las perspectivas de inflación, el Consejo de Gobierno estima que se pueden mantener condiciones de financiamiento favorables con un ritmo moderadamente menor de compras netas de activos bajo el PEPP que en los dos trimestres anteriores.

El Consejo de Gobierno comprará de forma flexible de acuerdo con las condiciones del mercado y con el fin de evitar un endurecimiento de las condiciones de financiación que sea incompatible con contrarrestar el impacto a la baja de la pandemia en la trayectoria proyectada de la inflación. Además, la flexibilidad de las compras a lo largo del tiempo, entre clases de activos y entre jurisdicciones continuará respaldando la transmisión fluida de la política monetaria. Si se pueden mantener condiciones favorables de financiamiento con flujos de compra de activos que no agoten el sobre en el horizonte de compra neta del PEPP, no es necesario utilizar el sobre en su totalidad. Del mismo modo, la dotación se puede volver a calibrar si es necesario para mantener condiciones de financiación favorables para ayudar a contrarrestar el impacto negativo de la pandemia en la trayectoria de la inflación.

El Consejo de Gobierno continuará reinvirtiendo los pagos de principal de los títulos con vencimiento adquiridos en el marco del PEPP hasta, al menos, finales de 2023. En todo caso, el futuro roll-off de la cartera de PEPP se gestionará para evitar interferencias con la orientación adecuada de la política monetaria. .

Operaciones de refinanciamiento

El Consejo de Gobierno seguirá proporcionando una amplia liquidez a través de sus operaciones de refinanciación. En particular, la tercera serie de operaciones de refinanciación específicas a más largo plazo (TLTRO III) sigue siendo una fuente atractiva de financiación para los bancos, que respalda los préstamos bancarios a empresas y hogares.

El Consejo de Gobierno está dispuesto a ajustar todos sus instrumentos, según proceda, para asegurar que la inflación se estabilice en su objetivo del 2% a medio plazo.


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