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Could be so massively bankrupt, says Bill Bonner.
"We have a mountain of debt... nearly $100 trillion of it... every penny of which is counted as an “asset” on the creditors’ balance sheets. Probably only about half of it is ‘money good.’ The rest may go ‘poof’ in the credit cycle’s downturn.
The safest part of this pile is US Treasury bonds. And yet, in gold terms, we’ve seen that they lost 30% of their value in the last four years... and 75% since 1999.
And we have a GDP that is largely fraudulent... with as much as half of it directed, controlled or be-muddled by government, rendering it unfit...
It’s not just Treasury bonds that pretend to have value they don’t actually have. All across the fixed-return world, there are unrecognized losses and make-believe wealth.
Here’s the FDIC warning:
'Unrealized losses on available-for-sale and held-to-maturity securities increased by $39 billion to $517 billion in the first quarter. Higher unrealized losses on residential mortgage-backed securities, resulting from higher mortgage rates in the first quarter, drove the overall increase. This is the ninth straight quarter of unusually high unrealized losses since the Federal Reserve began to raise interest rates in first quarter 2022. '
Banks were required to hold US Treasury bonds as ‘reserves.’ That, they were told, would make them more antifragile. But it did just the opposite. Treasury bonds proved to be a terrible form of ‘reserve.’ They went down, in nominal terms, by about 20% since 2020. In gold terms, they lost half again as much.
The banks also had plenty of private debt that went bad. They lent heavily to real estate developers and speculators, for example. But now, commercial real estate is not worth what it was a few years ago.
In addition to the loan losses, there are the losses on the collateral itself. Green Street reports that the ‘all-property commercial index’ is down more than 20% since 2021."
No.
He let the robots cheat...driving Mamdani’s fake social media engagement sky high, which the media turned into fake news that Mamdani was popular, liked, and a genius of a political leader driving a vast grassroots explosion of excitement for a true change agent.
Bot farms out of Pakistan and India flooded X with random promotion of Mamdani coming from fake accounts...suddenly ballooning into the tens and hundreds of thousands. This is not organic engagement by real New Yorkers, but manufactured hype driven by enemy foreign code-writers rigging a US election.
The New York Post is tracking the evidence:
According to analytics compiled from Mamdani’s social media accounts, reviewed by The Post, between June 1 and July 1, Mamdani’s Instagram followers jumped from 213,000 to nearly 3 million — a 1,295% surge — while TikTok grew more than 1,000%.
Was there cheating at the voting booth? It would have been unnecessary. Real immigrants came out to vote for the ...
"All men of military genius are fond of centralization, which increases their strength; and all men of centralizing genius are fond of war, which compels nations to combine all their powers in the hands of the government. Thus the democratic tendency that leads men unceasingly to multiply the privileges of the state and to circumscribe the rights of private persons is much more rapid and constant among those democratic nations that are exposed by their position to great and frequent wars than among all others."
Alexis de Tocqueville
A quick reminder:
Christianity will never perish, but godly Christians will always be persecuted. Today the intensity of persecution is rising.
"Children in China are prohibited from attending Christian church services, and the Chinese Communist Party rewrites Bible verses to support official pronouncements from the State. Sharing the gospel online is a crime, and Christian pastors are regularly arrested and “disappeared.” In India, Hindu terrorists set Christian churches and Bibles on fire and beat up and murder Christian parishioners. Muslims in Indonesia hunt down Christians as if they were animals. Muslims in Nigeria have massacred or abducted a hundred thousand Christians over the last six years and have destroyed some 20,000 Christian churches and schools. Islamic governments in Pakistan, Afghanistan, and Iran discriminate against Christians, punish them ruthlessly for their beliefs, and execute anyone brave enough to convert to Christianity. In North Korea, ...
