Look at Gold Price China https://goldprice.org/gold-price-china.html
The bottom is in for gold, and the Chinese Yuan is fixed to it around 8100 – 8200 CNY/oz
This is necessarily the beginning of the end of the $US as global reserve currency. Who would want to borrow in dollars that bite your fingers off next time around? While people owe dollars, and the countries who already borrowed in Dollars, largely non-Chinese Asians, are feeling the stress of reduced dollar supply, really need them to pay what they owe, borrowing in something neutral, not weaponized, will be a better choice in the next round of economic borrowing.
The $US will undergo inflation, as it did in the 1970s, likely stagflation again. Before that, we will get the second-leg-down of the 2008 crisis, which I expect to hit the top 5% pretty hard in their assets. There will need to be some kind of Bernie-Sanders social compact for most people, with Medicare for All, legal pot, and maybe iPhones and bicycles. Will the crash happen before, during or after November?
And this will go badly: As Peter Boockvar notes, "for those who care about gold such as myself, in the just released CFTC data for the week ended Tuesday, speculators went net short for the first time since December 2001 when gold was priced at $275 an ounce. It’s tough to find a more contrarian indicator."
https://www.zerohedge.com/news/2018-08-18/gundlach-warns-bond-bears-massive-increase-shorts-could-cause-quite-squeeze
The Saker: Sanctions, Sanctions, Sanctions, The Finale Demise of Dollar Hegemony?
China also has a solid economy and gold-based currency, the Yuan – which is on a fast track to overtake the US-dollar as the number one world reserve currency.
..
This behavior by the dying empire is driving allies and friends into the opposite camp – to the east, where the future lays, away from a globalized One-World-Order, towards a healthy and more equal multi-polar world. – It would be good, if our world body, the members of the United Nations, created in the name of Peace, would finally gather the courage and stand up against the two destroyer nations for the good of humanity, of the globe, and of Mother Earth.
Pepe Escobar usually has much better taste than he does in this piece, which styles "The Sanctioned" as a rock supergroup of yore, when T.Rex ruled the world. He closes with a link to Mott The Hoople performing All The Young Dudes in 1972. Always a good song. Pepe has a lot of good information about what all those countries hit with $US sanctions can do and are doing with each other, without dollars.
ATMs are being disappeared fast. Where's yours? Got cash? Plastic money always works. Don't worry!
What happens if smart appliances get hacked?
Hacking 1.5% of air conditioners in summer, to control them with a botnet, can crash the grid, at least in Poland. Probably the rest of us don't have to be concerned.
This study says children quickly came to trust robots more than themselves. Grown-ups, not so much. So, safe.... right?
“People often follow the opinions of others and we’ve known for a long time that it is hard to resist taking over views and opinions of people around us. We know this as conformity. But as robots will soon be found in the home and the workplace, we were wondering if people would conform to robots,” one of the scientists behind the study, Professor in Robotics Tony Belpaeme, explained.“What our results show is that adults do not conform to what the robots are saying. But when we did the experiment with children, they did. It shows children can perhaps have more of an affinity with robots than adults, which does pose the question: what if robots were to suggest, for example, what products to buy or what to think?”
https://www.rt.com/news/436106-robots-influence-children-research/
The closure of the Occupy London page, which has garnered more than 150k followers since its opening in 2011, follows the “continual removal of posts related to Palestine”, an Occupy London spokesperson told The Canary.
“It feels like censorship. For months, we faced removal of posts related to Palestine. Perhaps once every few weeks or so, a post would be taken down and admins for the page were frozen out of their personal accounts. Then, today, Facebook unpublished the entire page.
Occupy London Facebook page is taken down for repeatedly violating rules against talking about the trampling of Palestinian rights by the Illegally "ocupying" Israeli colonials and military. Seems reasonable. Everybody agrees on that, right?
A Facebook page containing pro-Palestinian posts has been taken down by the social media giant. The latest in a string of pages removed by Facebook, it has renewed claims of “censorship” against the company.The closure of the Occupy London page, which has garnered more than 150k followers since its opening in 2011, follows the “continual removal of posts related to Palestine”, an Occupy London spokesperson told The Canary.
Look at what Michael Creighton has to say about censorship on his American Everyman site. Thanks Colleen.
U.S President Trump revoked the security clearance of former CIA Director John Brennan.
Good. It is probably the best thing Trump has ever done. Brennan is one of the most despicable former U.S. officials alive. He should rot in hell instead of making money off his former status.
Abu Jihad Brennan was the CIA's station chief in Saudi Arabia. Some assert he went native, i.e. converted to Wahhabism. Brennan was in Riyadh when the Khobar Towers were bombed. Al-Qaeda did it, but Brennan was helpful in b
Eric Margolis: After 17 bloody years, the longest war in US history continues without relent or purpose in Afghanistan.
There, a valiant, fiercely-independent people, the Pashtun (Pathan) mountain tribes, have battled the full might of the US Empire to a stalemate that has so far cost American taxpayers $4 trillion, and 2,371 dead and 20,320 wounded soldiers. No one knows how many Afghans have died. The number is kept secret.
https://ericmargolis.com/2018/08/afghanistan-the-war-that-shames-america/There, a valiant, fiercely-independent people, the Pashtun (Pathan) mountain tribes, have battled the full might of the US Empire to a stalemate that has so far cost American taxpayers $4 trillion, and 2,371 dead and 20,320 wounded soldiers. No one knows how many Afghans have died. The number is kept secret.
Twilight of Empire
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