Bits and Pieces – 20180726, Thursday

Commentary

This post contains a special section under climate topic for a friend.

Trade War

Jim Rickards argues as many are doing, that China cannot win a trade war. The explanation is simple: China sells a lot more in terms of dollar value to the US than the US sells to China. This means that on a dollar value basis, Trump can keep placing tariffs until the Chinese run out of US goods to place countervailing tariffs on, and still have more Chinese goods left to place tariffs on.

Incidentally, Canada is in the same position: we can’t win a trade war with the US either. But there is a route to take that can damage the US: devalue your currency. Rickards explains why the Chinese will have to do this: Rickards Warns “Prepare For A Chinese Maxi-Devaluation”. Watch the currency. That’s where China will strike back. When they do, U.S. stock markets will be the first victims.

Mainstreet USA has not seen any real (that means inflation adjusted) wage increase in 40 years:

During this time, interest rates, thanks to central bank monetary policy, have approached zero at the front of the yield curve meaning that citizens could make no money on savings. The only perceived wealth increase has been through the stock market. If a Chinese devaluation precipitates a major market correction, mom and pop investor will not be happy and these are Trump supporters.

At some point Trump will have to realize that his trade policy is not fixing the MAGA problem and he will have to find a way to call it off while saving face. Look for the Chinese to help craft this exit in the form of a solution where everyone appears to win (save face).

I would see a major devaluation of the Canadian dollar in this process, not by intent but as result of currency market action. Canada’s weak position due to its massive credit market debt could conceivably lead to a default where the IMF steps in and demands a devaluation. Such a move, while improving the competitiveness of Canadian industry and resource companies creating an inflow of foreign reserves, would create an inflationary situation which would hurt the consumer. Be prepared.

Propaganda and Fake News

Martin Armstrong has a good short article on one of the latest examples of fake news:  Fake News & Their Conspiracy with the Deep State Exposed.

I’m posting this video link to the Magnitsky Act for anyone interested in deeper aspects of the Russian narrative: BANNED DOCUMENTARY – The Magnitsky Act: Behind The Scenes (FULL / In English). A recommendation to do this comes from the knowledge that John McCain was one of the act’s sponsors. It is interesting that the people who retrieved this documentary had to get it from the Wayback Machine. The hat tip came from Martin Armstrong: Another Banned Documentary Hidden from Americans Concerning Russia.

Anthropogenic Global Warming (AGW)

In response to a friend’s inquiry asking for evidence that the rational for AGW climate policies is wealth redistribution rather than fixing a climate problem, consider:

Also, Mark Steyn talks on the issue:

I could not find the original video I posted a year or two ago which had the clearest statement by an official of the climate scam but here are some other officials quoted.

Christiana Figueres, executive secretary of U.N.’s Framework Convention on Climate Change makes two key admissions in the next article: that the UN climate change agenda is to destroy capitalism for a socialist framework while having no concern for effects of climate change. Read U.N. Official Reveals Real Reason Behind Warming Scare. . .

Christopher Horner, an attorney and senior fellow at the Competitive Enterprise Institute (the what you ask), argues that the agreement is more about wealth redistribution than climate change: Think Tank Fellow: Paris Accord Is About Redistributing Wealth, Not Climate Change.

The founder of a site that I don’t monitor, Climatedepot.com, has this to say: ClimateDepot Fndr: Paris Accord Is About Wealth Redistribution, Not Climate.

Another article, Paris Accord on Climate Change: a UN Scam to Redistribute Wealth by Policy states, This UN policy is about social engineering, central planning, redistribution of wealth, and empowering bureaucrats.

But the master plan, the global framework which had been the UN’s Agenda 21 is now Agenda 2030, I guess because they didn’t get to the global technocracy in time. See what the UN and globalists everywhere including your Liberal government are up to:

End Notes

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