The Euro – a Doomed Currency?
We have a PERFECT DOUBLE MONTHLY BEARISH REVERSAL at 10765. The next one after that drops down to 98. Our long-term clients know what this means and how hard it is to achieve this type of indicator on our model.
Here is the famous GAP in the reversals that highlighted the 1987 and 1989 Crash events. There was a set ofPERFECT DOUBLE WEEKLY BEARISH REVERSALS in the S&P500 back in 1987. At that World Economic Conference we held in Princeton that weekend, it was rather spectacular. We have just elected the 286.10 Bearish Reversals on Friday to start the conference. The Array gave us a target of 2 days as did the ECM 1987.8 = 292 days (365 * .8)(October 19th). I recall desperately trying to find some support between our numbers at 286 and 180. I could find nothing.
This type of set-up on our model is EXTREMELY RARE. It is not something subject to human interpretation. This is a physics based model of untold and most incredible significance. The sheer fact we have such a PERFECTset on the Monthly Level is a very ominous sign of what will happen with a monthly closing beneath 10765 of the Euro. The sheer fact that computer generated these numbers is extremely important. It will dictate the fate of what lies ahead.
ECB Insanity & IMF Tardiness Tearing Europe Apart Yet they R 2 Stupid to Understand It
The ECB (European Central Bank) decision to strike Greek bonds off its list of accepted collateral caused European shares and bonds to fall out of bed. The ECB’s move is a blunt attempt to turn-up pressure on Greece’s new anti-austerity government. Greek bank shares plunged over 20 percent and the country’s short-term debt yields surged to almost 20 percent. Greece should DEFAULT on Euro bonds externally and swap them for Drachma internally. Greece is getting nothing outr of the Euroland but grief from a bunch of clowns who themselves borrow every year and have no intention of paying anything back.
The Euro is a dead currency and sooner Greece leaves the better. Perhaps then and only then will the rest of Southern Europe depart. The ECB’s move has upped the stakes in a standoff between the rest of Euroland and Greece, where a new government wants to rewrite its aid-for-reform agreements. Greece’s central bank will now have to provide the country’s banks with billions of euros of emergency funding. So this is the perfect time to DEFAULT on all external debt.
Meanwhile, the Ukraine conflict continues as Russia accused the United States of trying to tear Ukraine away from it and warned any supply of U.S. arms to Ukraine would pose a danger to Russia’s national security. The IMF delayed providing the loans to Ukraine as promised and that led to food panics and the collapse in the currency. The Russia warning further impacted Ukraine’s currency, the hryvnia, which slumped 34% after its central bank has been running out of reserves. Ukraine has now been forced to hike interest rates to 5.5% to 19.5%, even though the economy is expected to continue to decline in a recessionary spiral downward.
Basing Fines on INCOME Violates Human Rights
QUESTION: Mr. Armstrong; Finland and Switzerland are violating the basic human rights that you cannot punish someone without first establishing the act as wrong and then prescribing the penalty. I think this was a major issue in the American Revolution and in the French Revolution. Am I correct? It looks like your wheel of fortune has revolved in so many areas.
Thank you for shining the light
KB
ANSWER: Yes. Very good. The Declaration of Independence written by Thomas Jefferson, for which the king sent an entire army to his home just to hang him personally, included: “No Bill of Attainder or ex post facto Law shall be passed.”
It has been historically a fundamental human right that Finland and Switzerland are violating in their greed. It is known as the Ex Post Facto Clause. You cannot write a law AFTER the fact and then punish someone for violating a law that did not previously exist. That was a favorite abuse of the king who was also broke.
Part of that fundamental human right that Switzerland and Finland are violating is also the punishment. You ethically cannot be subject to a fine based uponINCOME. What is the penalty? You have to know you are committing an offense and you must be aware of the penalty. What these two countries are doing is indistinguishable from say jay-walking and then they say oh, that is 25 years in prison because we need prison labor we do not have to pay.
Finland has a very questionable past regarding the Ex Post Facto rights of man. Generally, the Finnish legal system does not permit Ex Post Facto laws that would expand criminal responsibility. Curiously, this is not expressly forbidden by any definitive right. It is more a practice than a recognized right. In civil matters, such as speeding or taxation, Ex Post Facto laws do not apply in Finland in any strict sense and may be made in some circumstances, which appear to be whenever they need money.
Finland’s past with respect to this basic human right is very dark. Following the Finnish civil war of 1918, the Parliament of Finland passed a law setting up tribunals to try suspected rebels. These tribunals issued death sentences for crimes that were not predefined. Several hundred people were summarily executed under what was clearly a violation of international human rights not to be subjected to any ex post facto legal arrangement. During the war, and before the tribunals were set up, thousands of people had been executed without trial by both sides.
After World War II, Finland was under pressure to convict political leaders whom the Allied powers considered responsible for Finnish involvement in the war. An ex post facto law was passed in the autumn of 1945 to permit prosecution for war responsibility, and eventually eight politicians were convicted. So there has never been any solid recognition of this human right in Finland which is now applied to speeding tickets to raise money.
In another post-war case, the weapons cache case, an ex post facto law was passed in 1947 so that military personnel could be prosecuted for unofficially preparing for guerrilla resistance in case of Soviet occupation. So there is plenty of historical problems in Finland with the Ex Post Facto right.
In the the United States, the Supreme Court has referred repeatedly to its ruling in Calder v. Bull 3 U.S. 386 (1798), in which Justice Samuel Chase (April 17, 1741 – June 19, 1811) held that the prohibition applied only to criminal matters, not civil matters. So the US government is free to issue fines for acts AFTER the fact today as long as they are classified as “civil” rather than “criminal”. So the Supreme Court would uphold abusive fines for acts that vary and were not predefined.
The US taxation on worldwide income violates Human Rights for it rejects that Americans are free and can live where they choose and if they do not use American services, they should not have to pay for not living there. The right to tax based upon birth is indistinguishable from slavery.