Houston we have a problem. Chinese and Hong Kong banks are running out of dollars. But I thought we had too many of them floating around the world. Guess not. There's plenty more where they came from. It's just another example of the glue that holds together the world financial system coming apart at the seams. First it was the staid repo market. Now it's foreign banks running out of the reserve currency. As Martin Armstrong often explains, 70% of the 100 dollar bills in circulation are held overseas. So much for the immediate demise of the reserve currency. 

Special shout-out to my son-in-law's father, John Kirby, who passed on last week. A prince among men and one of those important people you've never heard of. 

Direct download: John_Rubino_07.Oct.19.mp3
Category:general -- posted at: 9:01am EDT

Leftist conspiracy-monger Adam Schiff was aware of select details of the Ukraine-Biden allegations against President Trump before a lying CIA snitch reportedly involved in the case filed a complaint under a whistleblower law, according to the intermittently reliable New York Times. It has been widely reported that the CIA official’s complaint was based on a July 25 telephone conversation between Trump and Ukrainian President Volodymyr Zelensky that the said stoolie somehow learned about. Trump stands accused by Democrats without any credible evidence whatsoever of trying to muscle the government of Ukraine into investigating a potential 2020 opponent, Joe Biden, in order to discredit his campaign. This, of course, is the exact opposite of what actually happened.

Direct download: Matthew_Vadum_07.Oct.19.mp3
Category:general -- posted at: 9:00am EDT

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