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The Holy Grail For European Integration w/ Tom Luongo Live

2024-02-29 | 🔗
The Holy Grail For European Integration w/ Tom Luongo Live
This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
Okay, gentlemen, we are. Ready to go. We are live. Hello to everyone that is watching us on Rockfin on Odyssey, Rumble, YouTube, and on Locals, the Duran, Locals.com. Great to have everyone with us. A big hello to our moderators as well. Zarael tish m valley s thank you for that super chat valley s reckless abandon who else peter good to have you with us peter and i think there was How are our moderators? And we have with us the one and only Alexander McCurris. How you doing, Alexander?
I'm very well-ventilated to be on this program today. Very well-ventilated. Hello Alexander. We have with us… I'm saying hello. Hello. Hello. Hello. The brilliant Mr. Tom Longo. Tom, how you doing? Guys, it's good to see you. It's been a while since we've chatted. I know you guys are really busy. And before we get started this morning, I really do want to say I'm really pleased for both of you that I know how hard you've worked to build the Durand And I know where it came from 'cause I was there with you during the dark days and it's great to see the success. That you guys are having and the effect that you're having on the Zeitgeist, I think is really, really important. So, thank you for giving me the opportunity to catch up and all that. More that than anything else, I don't really know. - Likewise, likewise for you as well, Tom. And we are going to talk about Tom's latest analysis and some of the work that he has been putting out there,
Very relevant and very interesting. So, Alexander, I think we're ready to go. Let's begin, Alexander and Tom. Absolutely. It's a brilliant article that Tom has written on his own website, which I think we need to mention and talk about. Out and it's been repar... All the links, all the links in the description box. All the links below, absolutely, absolutely. We thought it was so important and so good that we've already done a program about it, talking about it. Of
It is about what is going on in Europe now, and it's not just Europe and the attempt of some people to construct Europe, but it is also about the pressures that this project is coming under, pressures that Tom has been talking about for a long time, ever since the Fed started to raise interest rates in the United States and part of the agendas that the Fed is pursuing, and we're starting to see the effect of this, and the fact that this is having…the crushing effect that this is having on the people who are running the EU project and the financial institutions which underpin the EU project, and the very, very troubling and sinister…
And I think that's what I think. Part of the story. I think the first thing to do is to go over to you, Tom, and, Babs, you can explain the points that you are making in that article. Sure. Thank you, Alex. I appreciate that. The what's really and it's not like the law means anything to these people only when it matters to them to advance their agenda. Otherwise, the law is just something that's an inconvenience. So the goal here is the biggest problem for The EU has been something that Martin Armstrong had to educate me on 10 years ago, which is that the Euro is a currency of contrivance because they don't have any.
Form of integrated tax and spend authority. They have 20 member central banks issuing euros based on the different debt profile, different debt vote. Profiles like that, you know, you've got, you've got people like Greece and Italy and Germany in the same union, and they're issuing data at different rates and different, different rhythm. Profiles and all the rest of it. And so the, the, the European Union has been able to construct itself. As a political union, assiduously, almost like these people are running Microsoft Project as a Gantt chart. Like we're going to do this on this date. We got to do this here and we need to do that there. Fiscal integration that is necessary to make political integration that they've achieved stick has to Come in the form of giving centralized tax to spend authority to the European Commission. Alex, you and I talked about--
this years ago during COVID when they issued the, the Sherbans. Well, that's why I brought it up in the article. I brought it up back in a. Article I wrote back on Halloween actually when Lagarde was out there, ECB President Christine Lagarde was out there screaming that, Hey, it's time that we create an index with these Euro bonds to up their profile so we can get investors to buy into them or get what they were trading at 55 cents on the dollar at that point. So, and that's when I went in. To that whole thing. And I educated myself on where that was. I remember the beginning of the story. Hey, let's get the camel's nose under the tent to start giving the the European Commission tax and spend authority, but you know, okay, so what's the project actually look like? And of course it looks like the typical created market, which is that there is no market for these things. Things. They shook down the member central banks to buy $200 billion in these shore bonds and now they're sitting on 45 and 50% losses on them. But they still want to keep.
Going forward, so now they're using the war in Ukraine as the means by which to do the next tranche and they put it in the of course the mouth of the highly. Cruciphobic and highly, you know, WEF adjacent Caiacalis of Estonia at the We need war bonds to pay for the reindustrialization of Europe and the remilitarization of Europe to fight the boogeyman of Putin Clearly nothing more than a political thing for the Europeans. I do not believe that that's the case for the Anglo sphere. For the British and American conservatives who see it, see them in a fundamentally see the Russians in a fundamentally different light. So there's that tension, right? And that tension But the goal here, as always, has been, if you think about the overarching plan, has always been to morph NATO.
And the European Union and the American Empire and roll it all up into the UN. Always been the goal. I don't think it's a good goal. I don't think it's an achievable goal, but that's the project. That's the Gantt chart. All the people who put this thing together are dead now, right? So Jacob Rothschild was one of them and he died on Monday, right? And Kissinger's gone and Brzezinski is gone and they're all gone, right? So now you just have the flying monkeys running around, the project managers running around doing this thing and trying to shoehorn this into the future and they can't get it done. They're standing back and they're being. They could do it. Or they could have a better chance of doing it. Have they the world been able to stay at zero percent interest rates? Selling the idea that we had to stay at zero percent interest rates because of climate change.
Climate change and cars and electric cars and all this stuff and the guards out there saying we need to spend trillions and trillions and the only way we're going to spend trillions on this is of course to stay at the zero bound in order to make this affordable. And then there's the Fed going yeah that's nice. You get to do this at five and a half percent. You don't get to do it to zero percent. And of course, at five and a half percent, the whole project is completely uneconomic. Like and now we're seeing, we're starting to see the cracks in this, but they're, they keep pushing forward because they don't have any other options guys. What else are they going to do? Admit defeat? These are the, this is the European Union. They don't admit defeat. They just double down. And you know, like, you know. Both that vampires don't cast reflections in the mirror. That's just who these people are. So that's the, that's the, that's the core of the arguments, the core of what I was talking about and they just there. And we.
Can get into the other implications on this, which is, of course, why NATO is so important to them. Because NATO part of a longer term plan to push this whole project forward to turn NATO into the global police force for global government. That's their idea. And it's a dumb idea and I'm not at one one. I'm never advocating for it and two I don't not even advocating that they can pull it off because Other forces around the world going, Yeah, we don't want that. And all they really have to do is just sit back and say no. And you let the Fed raise interest rates. Send every and the Russians keep an OPEC or now Bro pack with Brazil. Keeps oil prices above $80 a barrel and, you know, and they're just getting drained of all the collateral and it's just all going to collapse. And that's where I think we're Sure to that than we've ever been before. No, it's just good. Thanks for all of that. Let's get to this question of Eurobonds because it goes directly to what you were saying about
Official nature of this entire structure. If you're going to be a borrower and you go to a lender and you ask to borrow money, a responsible lender is going to ask you the very first question, What is your cash income? What is the cash flow? that What a state. You've got no consent. You've got none of these things.
Entirely dependent on funding that you are getting from the various states that make up the EU. The world. So the whole problem with the whole EU structure – because if you're talking about a currency, what makes a currency strong, what makes a currency, in fact, ultimately a proper currency – it is that it is the expression of the economy, the material wealth, the structure of a country produced by the state which governs that country.
Is true. Department, an economic policy, there isn't a proper, at least no disclosed economic policy, nor can there be. There is none of that. And that, again, points to the artificial nature of the whole structure. So am I correct in saying, Dom, that one of the points you're making, essentially, is this.
You haven't got the structure that supports an economy. And you don't have the cash with which you can pay back your loans. - What it comes down to Alex is you're right. It's about the risk profile of. Bonds that you're issuing. So I'm going to give you a perfect example of, so the EU is trying to turn itself into a government, right? A pan-European government. It needs to have, it needs to be able to sell these bonds to investors. It needs to have the cash flow. It needs to be able to have provable cash flow and provable. Political will to tax their people to pay back to pay the coupons, right? So this has been this was this was Alexander Hamilton's argument about why the 13 colonies, you know After the Revolutionary War needed a singular debt structure. We needed US Treasuries. We didn't need New York bonds and
Georgia bonds and Massachusetts bonds or in the case of the United States today, we don't have Mississippi, Iowa, and Alaska issuing Treasury bonds. We have Which is what we have in Europe today. We have the Treasury Department of the United States and the Federal Reserve working together to issue the debt that the. Market wants. And as long as the central government of the United States has the can prove to the market that it can get the cash flow necessary to pay the bonds then the bonds are are going to be sold and traded at a yield that is reasonable. The EU wants to form wants this to come into, come into being an. I want to prove that to the world, which is why, by the way, for example, why were they so insistent on Victor or bond giving out, um, giving them. Their cookie on 50 billion euros worth of Ukraine aid. It had nothing to do with the $50 billion for Ukraine.
It had everything to do with ensuring that Victor Orban, one of the smallest countries in Europe, could not dictate policy to the rest of the EU. They had to come down hard on him. They had to threaten him with basically sanctions that they've already tried to place on Russia. They threatened him with that. But it was because they had to prove to the market because they knew they were coming going to come to the market with trillions of dollars. With their Euro bonds, and they want to be able to sell those at the lowest rate possible. That means that you have to have show the most political solidarity in order to get that done. Conversely, let's let's just put an even finer point on this. Go through a political breakup here in the United States, which is, you know, a topic, a different topic for a different day as to whether that's possible. But just let's say that it happens. That then we would have like Florida declares independence.
Art is balance sheet and I can look at his income statement and his balance sheet and everything else and I can go, yeah, we could become the Sunshine Republic of Florida. And go out tomorrow and sell to the market with no problem. 30 year debt at 3%, 2.5%. The European Union wants to sell it at that rate and they can't get the rest of it. There's no way. The market wants 7 or 8% and the European Union can't afford to pay 7 or 8%. That's the issue here. So what they're trying to do is, so conversely, outside of the purview of of this problem that they've got. Now they're trying to manipulate events around them in order to get the rest of the world to follow them back to where they need interest rates to be, which is why I firmly believe. We have the Biden administration, especially Janet Yellen, working with Christine Lagarde to cap US interest rates in order to try and run
The clock out, force the United States into a recession to get the, get Powell to pivot and go back to the zero bound in some way. And shape or form to create a crisis big enough that everybody goes back to the zero bound, like we did during COVID. And then they can do what they did during COVID issue, a couple hundred billion dollars worth of share bonds, which are, as I've said at the top. The show, trading in right now at about 40 cents, 40% haircuts, about 60 cents on the dollar. So, and. I say trade, I'm being very generous here. They make there's usually one trade a week, by the way on the Frankfurt market for these things. There's no there's no liquidity in them. Whatsoever. If they were a real market, they would trade every day and we get a we get a real bid ask spread on the on the It would look like a normal market. It doesn't, this is clearly a nothing but a political. Um Construction and politically constructed markets are very brittle. And they're in there and they're
not markets, but you know, we live in politicized, hyper politicized markets as well. So it's a very, this isn't a we Moment in time and then you got to ask yourself okay well I know a lot of people believe that like the West is one big monolith well when it comes to Like destroying Russia. Sure. But when it comes to all the other projects that are going on though, everybody's got their own pro agenda. That they're running. And it's a big Venn diagram of everybody's incentives. And every once in a while, on certain issues, the Yeah, so we get Victoria Newland agreeing with Manuel Macron that we need to send troops into NATO. But everything else they don't agree. And that's the issue. Then that's where the and that's where the idea of there's no way that the American banks are going to allow the Europeans to issue euro bonds at point 1% or point 2%. When America is running a $34 trillion debt load. There's no way. It's not going to happen.
I'd like to get to the US and what they're thinking and what the Fed is doing shortly, but let's... Let's focus again on Europe because directly after your article appeared, and I said I wonder frankly whether it was partly also provoked by your article... To be. And he was talking about the fact that the European Central Banks are in crisis. Bye. Very bad position.
It started to go wrong when Mario Draghi said that he will do whatever it takes in order to maintain, to preserve the euro. And they went off on a massive bond buying enterprise, buying government bonds, the Italian government bonds, the Greek government bonds, all those government bonds in southern Europe. Just to repeat again your point, each country in Europe issues its own bonds. Is Precisely the point that you have made, which is that it was possible to go on doing this to get the European Central Bank to create money, to buy bonds, up to a certain point at least, whilst in...
Interest rates were at zero. The moment interest rates in the United States started to rise, that has become more and more difficult. And he was talking about the fact that the Bundesbank in Germany might need to be bailed out, and that the German government might have to face the prospect of doing that fairly soon, and he was debating what the political effect in Germany of that would be. And he did also make the further point that the European equivalent… The QE has been much bigger than what has happened in the United States. So tell us a bit more about this. Why are the European Central Banks so short of money? Why is it that all the bonds they've been buying are putting them in this terrible position?
this. Primitives. I keep going right all the way to the end because that's this is the way I know. No, that's no problem. You have to remember, remind myself to slow down every once in a while. Thank you. So like, I needed to. To think of it this way, when a bond is issued, right, it's issued a par, and we call par 100. So it's it trades at, you know, $100, right? The quoted price of 100. That's at that coupon rate. So let's say it was issued at negative 0.6% like Draghi was doing on short term interest rates in the Bundesbank and in Germany in particular was Vulnerable to this because they were the ones who were able to issue the most debt, most negative yielding debt originally. So they issue these bonds at basically they issued them at nearly 0%. Market interest rates are pushed negative. And that means that pushes the price of
Bond above 100 because, you know, people are willing to pay, willing to forego, they will Will offset the coupon that they're getting paid with the, um, with the price rise and that's part of the bond calculation. When bonds rise in price, they fall in yield because they pay a constant yield. So let's just like back up and let's talk about a normal bond. You've got a bond that pays a 4% coupon, right? Every year, it's going to pay you 4%. Well, that's it. Are if the price of the bond rises to 120, that means that the. Build, you're now paying $120 for $100 worth of bond. That means that the yield, you're still getting 4% on $100. So, but you paid 120, so you get a. Track that $20 out and then, you know, so it's now a 3.2% bond or whatever the number is in effective yield. And that's the bond.
The prices that are quoted every day is what the bond is, is trading at. And this is the hardest thing for people to wrap their brains around because bond math is completely opposite of everything. Everything else. So when bond prices rise, that means that yield falls. And conversely, when yields rise prices fall, because now it's the same thing in reverse, you had a 4% bond We paid $80 for that $100 bond. You're now making 5% on your 4% on your capital that you. Invested, you invested $80, you're paying, you're getting, you're getting a 4% coupon on $80. That's a, you know, do the math, right? That's 5%. So that's the problem. Here. You have all of these... uh European sovereign bonds that were issued at the zero bound, 0.1%, 0.2%, German... 10 years at 6.6% or you know, 30 years at 1% or whatever. And now they're all trading much higher than that. So they're all
Everybody who has those in their portfolio, their portfolios, even if they haven't sold them, the value of the portfolio is underwater, right? And so this is affecting the value of commercial real estate, of bond. Funds of leverage loan, CDOs, and this and that, and all this stuff that we talk about. It's all predicated on the fact like Story that we have here in the United States that we have all of these regional banks that were forced to buy treasuries. At the zero bound in order to offset their deposits. And now they've got. Impairments on their balance sheet, where they've got all these deposits, but they don't have the assets on their balance sheet, the bond portfolio to that would match the deposits. They have a cap -- no, they have a hole in their balance sheet. Because, again, bank balance sheets are completely opposite of your balance sheets, right?
loans or assets, deposits or liabilities. So again, and guys, this took me years to learn like this is not easy stuff, right? So Understanding that that's the situation. So with the Fed going to five and a half percent and. Staying there despite the protestations and the wailing and gnashing of teeth of literally the entire world. They're staying there. And while at the same time... Domestically doing all sorts of things that I could spend an hour going into as to how it's offsetting, um, the effect on the American banking system. Okay. Whereas it's cushioning the blow for American banks, but leaving everybody else to hang, and this is what's known as. Killing off the Fed put where the Fed is not going to come in and bail out the world if the world gets into trouble because the Fed went into went to five five and a half percent and Europe is the
Vulnerable to this becaus At one point during covid 14 trillion dollars at its peak of European sovereign debt that was trading at a negative nominal yield. Not the coupon. On yield, the nominal ye at 130, 140 percent. Yeah, they're trading 130, 140. And now they're trading at 60. And this is how you can use the Google Assistant to create a new app. This is why in what the minute Powell started raising interest rates, um, during the summer of 2022, Lagarde came out and went, I'm creating the transmission protection instrument, I like to call it the toilet paper initiative because it's what it's gonna turn the euro into. But it was a program to say, look, we are going to manage the spreads between all of the different sovereign bonds. And everybody at
time said they're trying to manage Italian bonds which were blowing up versus German bonds. No, no, no, no, it's been to manage US bonds versus German bonds and maintain those spreads because the structure of the market you use you manage those spreads. In order to then by extension manage all the spreads. In the US 10 year and the US 2 year are the rates that everybody keys their rates off of. Because we're the reserve currency of the world. And if the reserve currency is saying, nope, hire for longer, y'all need to deal with hire for longer. And so now it's. You put the ECB into a box and I, you know, from the moment that started, I went there and said, the Fed's doing this on purpose and they're trying to break the offshore dollar banking system.
I hate to say this, but I've been right about all of this. I'm not busting my hand, patting myself on the back. I'm just, here we are two and a half years later, the Fed hasn't two years. Either the Fed hasn't pivoted yet. And now the market is finally beginning to realize that the Fed's not going to cut because it doesn't have the ability. It doesn't can't cut we're at full employment and we're at 3% and rising inflation again. There's no way the Fed can cut rates. So everybody is now stuck in amber. And what you're seeing, especially today, we're doing this on the final day of February. And as a, as a. Market watchers, a guy who watches markets. Technically, I can tell you that what's happening in the markets, literally as we're speaking is them. What we traders like to call painting the tape. Banging the clothes in order to bring the numbers down into the end of February so that the monthly closes look good so that And then in March, everything's going to snap back in the other direction. And I see this as, as the plan is. But again, this is 25 years worth of market experience from watching the manipulation.
For these markets and how they can be and how they're manipulated in order to try and hold everything together. I think the best metaphor for this is that literally it's a little Lagarde is just a little Dutch boy. Every day another hole springs up, but now she's run out of fingers. And she's run out of spackle. And she's run out of, you know, and, and Damn is breaking around her and the Bundesbank is the key because the Bundesbank is what funded 3. Target 2 and OMT and all these these these these alphabet. a, um, f- facilities that Draghi created. The Bundus bank is the one who took all that money on is the one that did all. The finance, all the QE and all the rest of it. And so their balance sheet has been the one that's been hollowed out. Now you got to ask the question, and this is where the conspiratorial side comes. Did they do it on purpose? in order to collapse the Bundesbank, in order to create the collapse necessary to get the fiscal integration that they so desperately need and turn the keys.
To Europe over to the European Commission and the European Central Bank. That's been my thesis for these people for years. Years and George Soros has told you that's what the plan is and you know others have said this. Same thing. And the Lagarde has effectively said the same thing. They can't really say it all directly. They have to talk then you can know them by their policy. So that's, I think the And then you get Bruno La Mer come out the other day. The French finance minister go, why haven't we-- in the 35 trillion dollars worth of savings from the European people in order to fund climate change. It's like, I was like literally a project. Manager reading the Gantt chart going, we were supposed to have done this by now. It's 2024. We were supposed to do this last year. They can't do it because the Fed went to five and a half percent and stayed there. That's the long and the short of it.
Well, as a matter of fact, you anticipated my next question, because I was wondering whether perhaps all this talk of Eurobonds, now all of these problems with the central bank, the German central bank... The way in which we keep the war going isn't partly intended. To make it easier to sell the idea of setting up direct taxes and creating a treasury department in Brussels and doing all of those things. Because, you know, if you have a sort of big financial crash across Europe as a result of all of this, it's not very easy to sell to the European public, Well, you know, we've got to actually start…
Of it. And it's all about war. And we've got to do all of this, because the bear is on the move. Well, suddenly it becomes easier. And of course… Could that be…well, I think you've already answered this question. Could that actually be the agenda? You bring this, everything, to a point of crisis. You talk up the Russian threat, and then first of all you go for the Euro bonds, and then you say, well, we've got the Euro bonds, we now need to complete the structure, we've got to create the Treasury Department, the finance, the tax systems, all of those things, and we've got to do so fast, and of course we can't have any debate about it, because if we do, then the emergency is so pressing.
The danger is so great, and with the Russians at our door, we can't really talk about these matters publicly at all. Anyway, I think you've answered the question. I just like you. Go on, Alex. Alex This is the well you know again I you know I put on my evil my I put on my Sith robe and I start thinking like Emperor Palpatine and I go how would I do this like like this and and you know it's that's what I you know and the thing about these people is that they tell you what they you're going to do. They've written all the unreadable white papers imaginable to explain all this. When they go to conferences where they don't think they're being filmed, they talk about this stuff openly. It's not like it's, it's, it's, this is not, this is really isn't even a conspiracy. It's just a matter of well. You know, it's just not reported on by the media. What I find really interesting is that I don't. Nope. Um, I don't know how the telegraph maps politically within the UK. Like I know that the, the WaPo, that the Washington Post works for the CIA and the, to the, the New York.
Works for the DNC and I know the I know the map here in the United States I don't know how the British papers play out. I find it really interesting that he was allowed to write that article explaining all this in England at this moment in time because the English are getting. Squeeze out of NATO. Let's bring now NATO into all this because the future of NATO is very important. Who got floated this week as the replacement for Stoltenberg as General Secretary of NATO? The soon to be deposed... I'm not going to go into that. Tony Blair of the Netherlands. He's an important cog in this globalist thing, machine to get these things done. He's going to leave, you know, they can't hold your violators out of office for forever. They'll pass every terrible.
Law imaginable on their way out the door. Then they'll leave him with the cleanup job and then they'll blame him for everything that goes wrong in the Netherlands because they sat. Told him with a whole bunch of poison pills. Meanwhile, Ruta goes to NATO and that's telling To that the European Union is making a bid for the power structure of NATO. After Joe Biden last year put the kibosh on former defense minister of the UK, Ben Wallace to take over for Stoltenberg and knowing that Biden is a proxy. For watching. Moving NATO this way and it's, and it's why everybody went to Munich and said the same thing over and over again. Sacred on duty to NATO. NATO is eternal. We have to do blah, blah, blah, blah.
Blah, blah, blah, blah, blah. It was all about NATO. And because NATO is the means by which to justify, as you pointed out, Alex, that we have. Hooky men out there we ne from and we need to rearm these arms that they want pointed at Russia, they're gonna be pointed at the European people. That's the point of all this. So that Germans police Spanish and Spanish. Spanish police, Dutch and Dutch police, Italians, Italians, police, Germans, because of the French would never allow the Italians to police them. Like the treaty of Cairnall that was signed that allows French troops onto the Italian soil and there's all this stuff going on behind the scenes folks this is exactly what they're trying to do and they're and they're doing
Same thing here in the United States by leaving the border open. They're doing the, they're going to, they're going to put all these men that are coming across the border. They're going to move them into the military and then they're going to use the military, then they expect to be able to use the military in the United States as a kind of national police force and turn the whole thing around. All that. Guys are going to do. I love what I'm seeing out of the French, like the German farmers. Right. Um, I S and I saw just before I came on this morning, I saw a video of a massive protest in Bay urn in Germany. Of people screaming, It's time for you to go, just leave. Just leave. And that's exactly the right message, by the way. The more it's not, we're going To string you up and feed you to dogs or guillotine you, just leave. We're done with you. We don't want you around anymore. And I hope that that that I hope that that brush fire that's that's forming in Europe catches fire in a.
Way that is one nonviolent to, you know, and to substantive. In order to stop what's happening. Well, we'll see what happens. The European army using again the threat from Russia to justify accelerating… The world. Was what he's he's a general along has been to create an EU army and you mentioned Mark Rutte of course he is
More than anything else he has been a pillar of the European Union for a long, long time. I mean, he's somebody who's more thought of as the person within the European Union, actually, up to now, up to really… Simply than as a key figure within NATO. I should say quickly that I'm unfortunately more skeptical than you that all this bushfire is going to change anything because the one thing that they don't, they're not talking about, by the way, is central elections for the Central European Institute. You think?
All right. So why did they not do what the Europeans wanted them to do? The, this is the core of what I've been saying for a couple of years. And I, you know, I know that when I first presented this, everybody was skeptical of this, but. But the reality is that when you start to think about what their agenda is for how they're going to replace the current. Unworking. Full monetary situation in Europe that we've gone over. They have to replace it with a centralized digital Europe. I can even bring Apple into this, which is why the EU wants the ability to side load apps onto the iPhones because they want to install their surveillance software directly and on the back. Side. I firmly believe that that's what this is, that that's what that story is about. I'm
Getting to why so my argument has been from the beginning when you sit when you think about this, we have a two tiered monetary system, we have central banks issue money to to make Both commercial banks at a lower rate and then the low and then the commercial banks make loans to the. General economy and it's a two cycle monetary system. So there's money that flows between the commercial banks and central bank. And then there's money that flows between the economy and the commercial. Commercial banks. Well, a central bank digital currency, a digital euro, collapses that and we no longer need the commercial banks. So from the beginning, when I took one look at that, I said, yeah, I don't buy that the American commercial banking system is going to go along with this. They're the most powerful commercial. In the world and they have been for decades now and I just don't see Jamie Dimon and John Solomon and the rest of them going along with this. I just don't see it. The American empire, for lack of a better term, was built through commercial banking.
Okay, the American engine of growth of the of the 19th century was built because we had a mostly free banking industry Which was a then? Then, you know, subverted over time with the formation of the Federal Reserve, and then the consolidation of the American government, and blah, blah, blah, blah, blah, and everything post-1913. As that's, you know, but Go before that and you look at that. I've been arguing for years and Murray Rothbard wrote, I think, still the best book on this, which is the-- Saying that the history of banking in the United States is the history of the United States. And so why would the Fed do this? Well, to preserve it. Itself and the commercial banking interests that it represents and who are the shareholders of the Federal Reserve. It's not more complicated than that. You have a bunch of committed globalists who are, who believe fundamentally that we need to get rid of commercial banking and do away with the private.
Formation of capital through the commercial banking process. And we have commercial bankers who-- Don't believe in that. So we can either have public formation of capital with controlled interest rates and, and, and fully and fully locked down markets that are based on a social credit system, access to capital social credit, as opposed to the And as opposed to investment risk and economic desires of which comes directly from the economic desires of the the people that make Of the economy and that's what the commercial banking sector ultimately, that's who they ultimately serve. That's whom they ultimately work for. And it's their job to accurately assess the risk of the things that stupid things that we want to make businesses make into businesses And they then put an interest rate on it on that loan and they're supposed to do that we've completely short-circuited that process but
With the centrality of central banks setting interest rate policy and risk profiles and pushing interest rates globally. Bully to the zero bound over the last hundred years. We, once you hit the zero bound, like the natural snapback is to go in the opposite direction. The commercial banks are like yeah we're not committing hari hiri we're not committing ritualistic suicide for a bunch of Thank the European communists. We're not doing it. And you know, it just put it in like those bold terms because. That's the way I see it happening at the cigar bar on the Upper East Side. All get together and they you know, at the at the c go into the and they go i room where that's been sw around and you know, have this is what they do. Like,
Okay, I can't see it any other way even if there was and they were willing to go along with it for years when they Were making money off of it and they had no other opportunity to do anything. Otherwise like, you know, they're not I don't see any of these people as anything other than sociopaths. in - Okay. Operating in their own best self-interest. They are operating on enlightened self-interest, right? That's it. But that makes sense to me. And so for right now, they're pushing back against this. And I think they also have tremendous political power. Are here in the U.S. And to communicate to. Other world leaders into other world business leaders, what's going on. Our goal now is to watch inferentially, read the tea leaves of all the things that are happening, to see if that thesis plays out with inferential data.
The you'll never get Jamie Diamond to stand up on CNBC and go, yeah, we're trying to bankrupt the ECB. He's never going to say that. But you have to watch for the policy that may support that. And then you go, oh, yeah. And, and Come out and go, yeah, I wasn't gonna stay at five and a half percent. So they did it in order to protect themselves in an order for the Fed to get. To regain control over monetary policy by collapsing the offshore levered up. What's known as Eurodollar system, which is another 15 minute rant on my part in order to explain the mechanisms of that. But once you to see it that way. It's really hard to not see it that way. Here, I see data points that contradict that. I will be happy to come on the program and go, nope, well, I was wrong. And that'll be the end of it. But I don't, but so far, I don't see that. What I'm seeing actually is that politically downstream of all this.
We're seeing exactly what we should be seeing, if this were the case, which is we're seeing we can stand up to pose a globalist Speaker of the House, Kevin McCarthy, put Mike Johnson in power, stand up to the Biden Administration and say no more, no more, no more, um, no more funding for Ukraine without stopping the border, no more of this, no more of that. Yeah. And he's trying to do his best to slow things down. And then the old guard, the Chuck Schumer. Mitch McConnell's, the Mitt Romney's and whatnot are continuing to try and push this down the road. Janet Yellen came out yesterday and That we should seize all of Russia, the Russian foreign exchange reserves, and hand them to Ukraine that would destroy the United States as we currently know it as a, as a financial supercenter. Why would Yellen do that? She knows what that would do. She'd take 40 billion dollars of Russian foreign exchange reserves and hand it to Ukraine. 10s of trillions of dollars in global trade that are done in the in the dollar and with US banks would then
immediately that money, like you're a, you're a Turkish, you know, you're a Turkish symbol salesman and you sell me some, you know, some new 15 inch crashes from my drum set. Right. And I, and then you deposit that money that I pay for those symbols in an American bank. What's the first thing he's going to do. do. That money is moving out into a different currency and get it out of the American bank because the Americans may seize that money tomorrow because Erdogan said, you know, didn't toe the line. Like it destroys the American superpower, which is the, the, the. The validity of you can do business in the dollar and you know, your money is safe. He effectively wants to default on bond, which we've never done. And she wants to destroy the ability of she wants to destroy the, the, the, the, the. For watching.
That or she's just dumb. Then I don't think Jani Ellen's an idiot. I think she's not smart, but I don't think she's an idiot. So like this is what's hap- I mean. Anybody talking about this in the United States is clearly a traitor and clearly working for foreign interest. Pick your poison as to which foreign interest they work for. I don't care. It makes no sense otherwise. The administration. For its part, it is not signed up to this policy of the Fed at all. Is that why they are so resistant to it, and is that why also they are putting down their foot on the fiscal accelerator to the extent that they are? Is it that they're trying to mitigate what the Fed is doing?
They are trying to spend as much as humanly possible in order to blackmail the Fed into lowering rates. That's why Janet Yellen issued 83% of the debt that she issued in 2023 was of one year maturity or less in order for all of that debt to be rolled over. Oh, pretty much next month in order to try and blackmail the fed into roll into. Going lower so that she can reissue that debt at lower rates. It's, again, it's, it's all part and parcel of the same strategy and Powell's like, Nope, sorry. And I have to deal with higher interest rate payments and you know, and to my financial brethren out there. That are calling out the deteriorating fiscal situation in the United States, you're right, we can't afford to pay for $34 trillion in debt at 5.5%. I agree. So with current spending, but I also know that you could cut spending.
In the United States back to 2018 levels, and it would change the dynamic completely. And the market in general would look at that incredibly. It wouldn't solve the United States' problems, but it would signal, Oh, you're serious about this. Oh, okay. Yeah, we'll put our money here as opposed to Europe. And then that's when the day that happens, the day they actually get any spending cuts through of any significance. And I mean, real spending cuts. Slowing the growth of spending as was the previous plan. Here's our current budget and we're Going to grow, I don't know, the Health and Human Services by 5%. We'll only raise by 2% a year. And so we've cut spending by 3%. That's what they do normally. That's how they sell this nonsense. No, give me $500 billion worth of actual spending cuts where next year's budget is $500 billion smaller than last year's budget. You do that? And I'll see you in the next one.
You'll see trillions of dollars flowing into the United States. The Euro will drop from a dollar eight to 90 cents overnight. And that's why Chuck Schumer won't budge on any of this stuff. That's why Mitch McConnell. Budge on any of this stuff. That's why Nikki Haley is still in the presidential race. This is all an operation to try and get through they will Run this out all the way to November. Nothing is going to change in the United States politically until November for this reason. And then the question is, OK. Are the forces that I'm talking about are they powerful enough to actually get Trump across the finish line and into the Oval Office by January 2025. That's the outstanding question on all of this. I'm right about all of this. Watch Trump and all the lawsuits and all the other things that are going around him because if so, if they, if all that stuff keeps falling.
And we get through each of these like major steps the the primary Super Tuesday uh the next Fed meeting, the GOP convention, all of these stupid lawsuits that are pending against Trump, we actually get to the election and Trump wins and they don't kill him? between then and now and Nikki Haley's not his running mate, which is clearly why she's running. Still in the race. We may be looking at a much different world in 2025. Do I put high probability on any of this happening? - No. - I think it's going to be worse than, I think we're going to be treating. To the worst version of this show that we could possibly imagine, but I'm giving you what the path looks like to get to the end game.
In the next one. Expecting more, you know, histrionics and whatnot out of Israel and the Middle East. Like, you know, I'm expecting it all. And I mean, last month for the newsletter, but last month for the newsletter, just to give you guys an idea, the title of. Newsletter was demoralized nation and the title of my first my lead article was will we be spared nothing and my Inclusion was that they're going to run Hillary versus Haley. In the end, couldn't you imagine? Imagine, like what would be more demoralizing for Americans than having to choose between Nikki Haley and Hillary Clinton? I hope I'm wrong. You know, Tom, you have a habit of anticipating my questions because I was actually going to ask you a question about...
Up the US election and where Trump fits into all of this. You to a great extent already asked it but right here's the last question I'm going to put With Trump. Action. Who's a friend in Washington who is trying to counter what the Fed is doing? Is that really what is unnerving the Europeans at this moment? It is. I was going to say Alex, I think that's slightly the wrong frame, but the, in essence, you're correct. Right.
Is Biden was selected and put in power for the, to do exactly what he's done. And he has failed at every major turn in terms of getting the fiscal stuff through. That needed to get through Build Back Better and the infrastructure bill and all that stuff was supposed to saddle the Fed with six to eight trillion dollars worth of space. Ending over the over the until this election that the Fed back to zero, the zero bound because the Fed. Would have been forced to monetize all this debt. QE and zero bound rates out of our vocabulary. Like get that through your head. Know, and, um, I think the, I think that Trump. Doesn't understand this. And if he does understand it, he's playing dumb. I think that he hasn't quite had the talk yet from the wall street guys that this is the plan and we're going to cut rates.
After you're in after you're elected and you're going to be able to ride herd over the the first 10 months of your presidency, you're going to be dealing with an expansion where rates are now in the fours. And that's going to be good for you. Hold this at five and a half because we need to bankrupt. We need to put Europe back under our thumb for lack of a better term. Hate this hate to put it in those terms, but. But that's what I, that's the way I see it. And, and we need to put them back in the box and we need to break Europe. Europe is trying to break us before we break them. It's a race. And they're racing to the election day. Tom, one very last comment from me, not a question. Trump doesn't like the Europeans, and Jamie Dimon has recently said some nice things about him. And of course Trump will know these Wall Street bankers. Kind of people he probably does know. That's my guess anyway.
I was gonna say about Diamond. Diamond, remember when Diamond first came out and backed Nikki Haley. Everybody got it wrong, including myself. What Diamond was saying to his, to his who lean the left and generally vote Democrat wall street brethren, it's okay to vote for, to back a Republican. Him. Now he shifted towards Trump because the, because you know, Haley is clearly not, um, running as. Republican, she's running she's clearly got money c and from Soros and other So that's why I can see diamonds. And I can see that alliance, not alliance, but I can see them moving back. For watching.
I know you're up against the clock a bit. I've finished my questions and I wanted to say thank you for the... Incredibly illuminating discussion. Alex, maybe you've got one or two things to ask. Sure. Yeah, Tom, if you have five minutes, maybe answer a couple of questions directed towards you and then Alexander will answer the rest of the questions that came in. - What about the Bradbury Pound? Two questions, the Bradbury Pound. - No idea. That's the first time I've ever heard that term. I hate to be, I hate to, you know how much I hate not answering your question, but I don't know. Yeah, I don't know it either, but yeah, it's a couple of times. You don't know it either, Alexander, okay. Zariel asks, Tom, why are all the big deals selling all their stocks on Wall Street, like Diamond, Rothschild, et cetera?
Okay, I'm going to start with Diamond because Diamond is easy. Um, at the end of last year, Jamie Diamond put forth his succession plan for when he's no longer CEO of JP Morgan. Um, interestingly enough in that succession plan, the snake. In JP Morgan's garden, Mary Erdos, who's the one that actually handled all of Epstein's accounts at JP Morgan, by the way, was not part of that succession plan, and that I could see. She was also on his arm at Davos this year, because I think that's a keep your friends close and your enemies closer kind of thing that she couldn't be running off. To cut back room deals around him. I think Diamond is getting set up to step down. JP Morgan, remember he had that section a few years ago. He's old, it's time for him to move on. So he cashes out $146 million with stock in his account. Everybody. Else, that's a signal to me that, Oh, we need the top.
Market and get out of here because we're going to get we're not going to have anything because this is all going to collapse on us Facebook and. Google and all that. I read that as the rats leaving the globalist sinking ship. I'm telling you, the more I read the tea leaves, the more I really do believe that. This is what winning looks like, but it's really hard for us to feel like it's winning. Because the people that we're fighting against will never break character. Going back to Giannis Varoufakis and the Swedish national anthem thing, when he was Greek prime minister. You present all this stuff to the European Commission and they go, and that's nice. And they look at you like they just, you just sung the Swedish national. Them at them and then they go back to doing whatever they were gonna do. They'll never break character.
And you know, the hours late, so our armed forces are already moving, blah, blah, blah, blah, blah. Like, you know, it's going to be a very, very difficult fight to claw our way out of the situation that we're in. They have, you know. It's late fourth quarter, you're down by 10, you got four minutes on the clock. You know, that kind of moment that we're in, but I think. We're only down by 10. We're not down by four touchdowns. Like we were at halftime. Like that's where I think we kind of are. Right. And that's why I see clearly see that these guys and that's one of those signposts. If they're cashing out with markets at this moment, yeah. Then that may be that may be a way to read that. I'm not I'm not saying it's the only way to read it, but it's clearly one of them. Okay, Commander Crossfire says with the love. Of Russian resources, cheap Middle Eastern oil, and free minerals and labor from Africa. Consolidation of Europe may be the only solution to hold the ruling establishment together.
I think honestly, here's the thing. I think their European project is more important to them than tyrannizing Russia and subjugating Russia. I think for other forces that are. That's a different story for the Anglo-American sphere. It's far different from the Trotskyites that are the. The next video. In folks, whatever you want to call them, the Eurocrats, they're ideologically committed to the... European Union and they are more than happy to cut a deal with Russia in the short term and oil imports. From Russia in 2023. Well, statistics give you that number, right? That the Europeans bought more oil from Russia in 2023 than they did in 2022.
To buy a lot more in 2024. They'll just break the sanctions, they don't care. That's more important to them. Because it's more important to them, they'll try and deal with Russia and trying to down the line and if necessarily cut a deal with them because what are they going to do otherwise i think they're more committed to destroying the united states than they are committed to destroying russia that's i think the the split because the united states Represents something legally and. And structurally that is anathema to their plants, right? Or federalism, our rule of law, the Constitution, nominally that the Constitution puts the people sovereign. For the government, all those ideas, we can reclaim all those things from the corruption that exists in the United States today. I'm not saying it's gonna be easy, but we can do it, right?
Are still buried deeply within the American psyche. And they can come out again. Again, some stuff that you and I, Alex, used to talk about three, four, five years ago, right? about why the United States is different. I think that's why they're so focused on, they can't, Europe can't survive with the United States in its current form. There's no way. The United States is too powerful. They have to bring it. They have to bring us down, and so they either get us involved in a World War that we can't afford to fight, or they bind us down with political traders that you know how the country out from within invaded through the border yada yada yada. That's clearly the plan. More questions or one question and one comment from seven. South Florida would break away from independent Florida to form the Republic of Miami in a heartbeat.
Question early and I'm like, yeah, that's kind of funny, but we're okay with coming along with you up here in North Florida. It's okay. The Sunshine Report about public of Florida. We can, we can, we can, you know, post scars at the border on I-75 and I-95. We're good. We know what to do. Wait, we have more guns up here guys. We know how to, and we know how to use them. Trust me. Final question and we will let you go. Tom from Runa says, The West is built on financial ivory towers. By necessity at some point as you can eat digits on a screen. Will bricks be in time? time with a viable system to save us. Save. I don't know that that's a, that's the right frame for that, but are the brick. Forming an institution, a series of institutions that can protect themselves from the
Immolation of what's going on in the West. Yes. And maybe that's the best we can hope for in the next 10 years. Yeah. I noticed this look for nodes of stability. Folks. And, and I'm and I'm when I mean, and all of this, everything we talked about today is fractal in nature, right from versus the West to you versus your County Commission or your local city council or whatever your local town council it's all the same process The nodes of stability for the people around you start there and every, and that's the. Easiest and best and most effective way to beat these people and just by saying no and, and, and, and trans and doing business locally. Doing business outside of their purview and, and are it's the, the phrase that's. Been that people have been using a lot recently as intentional communities. That's that's what the durant.
And then that's what gold goats and guns is. That's what these are all. We have virtual intentional communities. Leverage them and their power as best we can. And we do it here and a commentary per uh, uh, base. On a daily basis in order to try and disseminate the information necessary for you to do it in the real world in Meatspace. So we do it out here in Flatland and then we take those ideas and those lessons and we should be applying them in the real. World and meet what I like to call meetspace. And we do that. We have all the political power in the world. Every frickin bit of it. And I I, you know, I have a fundamental belief that humanity is far more resilient than we give it. But then we want to give it credit for on our worst days. And I'm not saying that you know it's going to be easy or it's gonna be fun or but you know. Has three young children. that's graduating high school this year. Like this is, these are the.
This is what drives, I know this is what drives us and it should drive you. Let's make this let's let's let's let's just, these people are just silly. And at the end of the day, we can just sit there and go, okay, that's nice, but we're not doing that. So let's just do that. Way to end the show with Tom Lungwell. I have all of your information in the description box down below and I will also have it as a pinned comment as well. So definitely follow Tom, check out his his amazing articles and his analysis. And Tom, thank you very much. For joining us. Thank you guys and all the best and we'll do this again soon if we can and I'll drop off now and we'll see you soon. Absolutely. Take care, Tom. - Absolutely. Thank you very much, Tom. Take care. Bye. - All right, Alexander. Great. Wow. Great stuff. I'm kind of rooting for the bankers in the US now.
What a wild world. Jamie Diamond. Jamie Diamond. Jamie Diamond. I've never quite... Imagine the world is very strange. The world is a strange place in some ways. Oh boy. Yeah. Yeah. A fantastic show. - Right, let's answer the questions that we have left Alexander and we will sign off for the day. Valley s thank you for super sticker Roberts. Welcome to the grand community. Elaine says very happy to wait for the brilliant Duran Thank you, Elaine. Robert says, My first live in a long time, so glad to be here on the-- The Only Places to Find Truth. Jonar Games, welcome to Drag Communities. That super chat Klaus says, happy birthday, Gonzalo. Not forgotten. Yeah. Not really. About it.
On this. And consent, which is about worthy and unworthy victims, which is this concept that... You know, the media follows that there's some people who deserve to be honored and others who don't, and it's got nothing to do with whether they're good people or not good people. It's got nothing to do with the way in which they've been killed. It's just purely how it fits in with the… ideological framework that the media and the powers are following. It's a brilliant piece. I highly recommend it. - Yeah. Lana says, I finally caught Duran live. Hello, Lana Zoltan. Thank you for the super sticker. Lana also sent.
A super sticker. Muskva1825, Alexander, do you believe that the SMO exposed collective West's weakness in boldening countries in Africa and in Palestine to seek independence? Yes it has. There's no question about it. I mean it's created... it's... Those a huge amount of weakness. And also the opposite, of course, of the West's weakness is... It's Russian strength, which was completely unexpected. In Ukraine. And I said, What good did he do in the end? It didn't make the West stronger, and it didn't make us better informed about Russia. We didn't learn anything about Russia from it because we got the whole situation there.
Seeing it every day, or the global majority, as I noticed. People are increasingly starting to refer to it. They're starting to stand up and they're pushing back, and I know that it's causing great concern amongst people in... Washington and London especially. Expression. I've started to see it being used and it's beginning to spread. I recommend everyone watch Alexander's video from yesterday and the... Of your video you read a tweet from David Sacks which was a fantastic uh tremendous I know he watches us every now and then. I know he follows us, but that was a fantastic tweet. I wish we could find it. I'm going to look for that tweet.
It left me speechless. As I mean, that doesn't happen very often, can I say? I mean, it really did. It said everything about the war in Ukraine in just a few words. Everything. It was all there. Everything. It was brilliant. Yeah, brilliant tweet. A good way for you to close your-- Video yesterday, so yeah. Definitely watch Alexander's video and definitely look for that tweet. Black Tie, thank you for that super sticker. Commando Crossfire says Russia just held the games of the future. For their outlook, looking to a new era while Europe reaches back to 1939 or 1984. Actually been held yet. I think I thought they were just starting, but anyway. I don't know. Maybe maybe they were held it looks like they were held but I have That follows that story too closely. No, I happen to be honest. - Yeah.
- Absolutely, I wish the world well by the way. - Yeah, I think it's a great idea. Envy Storm says good day and many thanks for all you do. Thank you very much. Bert McNamara says, Is there any truth to the story that Ukraine intelligence tried to car bomb Tucker Carlson? Alexander M: I don't know. I don't know what the Ukrainian intelligence would do. I mean, if they did, they would have been absolutely idiots to do a thing like that. That's my impersonal view. But then who knows? With someone like Budanov in charge, even, you know, the New York Times article tells He's an unpredictable and dangerous person. I mean they might have done…I mean I haven't heard about it. I doubt that they would do it actually. Alex Tishem says, Happy birthday Gonzalo. I miss you. Ralph says let's please remember Erin Bushnell and family the video is on the new atlas
Absolutely. I mean, it's absolutely haunting. Great video, absolutely. Really extraordinary thing. Very powerful statement. And again, by the way, complete radio silence about the whole story in British media, I noticed. I mean, in the big mainstream newspapers I didn't see any mention of it at all. Of course everybody, lots of people in Britain know about it because people go to the internet, but the media here doesn't really want to talk about it. Deputy, thank you for that super sticker. DW, welcome to the Duran community. Scott Elliott says, Over, under coup against Zelensky in a moment. To defend black males West with. Bio-weapons, remember the labs to enter war to push Russia back. That's bomb possible.
I mean, we can all construct possible, plausible, entirely plausible ways that this ends. Wait and see. I mean, at the moment, all one can say is the Russians are pushing forward. M says justice for Gonzalo Lira. Agreed. Jeff, thank you for that super sticker. Public says, what about the Bradbury Pound? A lot of questions about the Bradbury Pound. I'm gonna look that up. Envy Storming. - We must find out about it. Uh-huh. Welcome to-- thank you for the Duran membership, Edvy Storman, Alex Glantz. Thank you for that super sticker. How much has NATO been weakened after the Russian military operation, and will it be able to recover? Wish you all the best.
this condition of NATO armies which is already, it's clear, pretty fragile. They're in a terrible state. Again, I discussed this in my program yesterday. The Europeans are now having to scrounge around Africa and the Middle East looking for shells because they can't produce any. And there aren't any in their inventories, and the American inventories are social, that presumably they're not prepared to sell any to the Europeans. Jane Speer, welcome to our community. Donald Speed, thank you for that super sticker. S-H-A-N-E. H906, military coup a la Europe. Interesting. Welcome to the community complicated complicated thing to happen actually. Yeah SHH906 says, Do you think BRICS+ could...
Could throw a wrench in this plan? Alexander M The EU's plan. If everything that they want to do happens, if they are successful, if everything that they're trying to do, then it will deepen the crisis and stagnation in Europe. So the BRICS are not there to help Europeans; they're not there to help Europe. They will capitalize on Europe's stagnation and weakness and developing crisis. And it is for us in Europe eventually to sort this out. We shouldn't look to outsiders to come to our rescue. I found the tweet, is it the war of lies? The war in Ukraine is based on lies, lies about how it started, how it's going and how it will end. Let me put that link in the chat.
Okay, Evan Ritz, welcome to the Dorian community. Tatiana Carmichael, thank you for that super sticker. Robert, thank you for that super sticker. Elza. It says, Guys, I have no idea what you were talking about, but I've learned that the Euro bonds are evil and the direct community will save us, thanks. It is a technical subject, but it is pretty evil. Completely evil. So if I can say mad – and that's one of the problems. When things are mad they're often difficult to explain. Sanity is simple. Madness is very complicated. That's it. Tabernacle says monetary systems and ideologies change, but not war. - It's true, no. - That's it. And Nigel says, cheers, lads. Thank you, Nigel. Robert McNamara says the story was on next news on Aaron Bushnell, I imagine.
But yeah, I'm sure, yes, yes, yes. - Tapato Matato says, Is it worth even asking about the Russian elections? Have the Communist Party put forth their own candidate? What are the races besides presidential? Well, I mean, it is a purely presidential election. Russia has presidential and parliamentary elections at different times, and local elections at different times also. So the parliamentary elections are some way off, and they always happen in the autumn.
And the local elections also tend to happen in the olden, the regional elections. So this is purely presidential elections. But absolutely the Communists have indeed put up a candidate. His name is a man called Ivan Haritonov. He's run for the presidency before the Communist Party. He's a veteran member of the party, so they'll be backing him. He was previously joining the Communist Party, a member of an entirely different Russian Party, the agrarian party that got folded into the Communist Party. Is probably going to be the strongest candidate against Putin. But everybody, every single opinion poll, survey of opinion in Russia, they all are united in agreeing that Putin is going to win a landslide. About 60-80% somewhere in that massive range.
Okay, Peace right now, says Tom's great because he helps us to recognize those moments when we're winning. - True, and Onujin says, Onujin says, Thank you for all your hard work, Duran Team. I've followed your content nearly two years. I'm amazed at consistency and substantive content. Thank you very much. Thank you very much. And we have one more. Decaded caveman, not a fan of the America as a victim narrative. The country's collapsing in on itself because our people's excessive self. Centeredness and ignorance, not Europe. Problems are far away elsewhere. >> I did. He was exactly as Tom wasn't talking about him being a victim. What he was talking about was a power struggle, in effect, between the American financial
The out. He did say, and I think this is a fair point, that there are things about America which Europe doesn't have. It's got its Constitution, it's got its history of democracy, which the European Union has nothing like that. It never has done. I mean, it's been an entirely constructed, elite operation right from the outset. There is perhaps more hope that one day the Americans themselves can find a way out.
And get their democracy back. I think that is what he did say, but he wasn't saying that these people in Wall Street are victims. He wasn't talking about them in those terms in any kind of way. All right, Elsa says, All people working in the German industry tell that their biggest problem is to find qualified workers and Rheinmetall pretends to start production in Ukraine, where the situation is even worse. Well, absolutely. I mean, the whole situation in Germany is terrible. I mean, I'm not going to start about Ukraine. But just the other day, I'm sure lots of people have heard it, Miele, the people who make all that kitchen equipment, is an absolutely rock-solid Mittelstand company. One of the great flagship family businesses of Germany is relocating production out of I've even been told that Porsche is doing the same. I'm not sure about Porsche, but Miele definitely is.
That is a shock. People in Germany are stunned, and it's a sign of the speed now with which de-industrialization is happening. All right, two more that came in and we're signing out. Alexander from Tabernac, it's hard to submit an opponent then to defeat him. And I can't read the name on this one, but it says David-- This is awful when he's talking about China. He wants Taiwan to be close to the West just like Ukraine should know better. Well, he wrote, I think, one of the greatest things ever about Ukraine, and on Ukraine Absolute voice of courage and sanity. And Heavens knows we need lots of those. We will end it there. Thank you everybody for joining us on this live stream. Thank you to... Tom Longo, once again, I have all his information in the description box. It will be as a pinned comment as well.
We end this stream. Alexander, any final thoughts and we'll sign out. It is a most interesting situation. But I really do wonder what the EU is going to do. I think there is panic growing there. At one point, I don't agree with Tom. I think they're absolutely terrified of Russia, actually. And I don't think they want to cut a deal. But they're also very frightened about what is going on in the US and the possibility that they're as much afraid for the EU, more afraid for the EU than they are for NATO. I think it's a real one. So lots to think about with this. And we will see whether-- not this Eurobond project takes off, and if so, when and what comes of it.
Zara Yell and I think that's everyone that was moderating today. Thank you very much moderators for everything that you do. I think I got every. Buddy. And thank you to everyone that was watching us on Rockfin, Odyssey, Rumble, YouTube, and our amazing community on the locals, thedurad.locals.com. Take care, everyone.
Transcript generated on 2024-03-01.