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Page added on July 24, 2019
JPMorgan: We Believe The Dollar Could Lose Its Status As World’s Reserve Currency
Almost eight year ago, we first presented a chart first created by JPMorgan’s Michael Cembalest, which showed very simply and vividly that reserve currencies don’t last forever, and that in the not too distant future, the US Dollar would also lose its status as the world’s most important currency, since it is never different this time.
As Cembalest put it back in January 2012, “I am reminded of the following remark from late MIT economist Rudiger Dornbusch: ‘Crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought.'”
Perhaps it is not a coincidence then that in light of the growing number of mentions of MMT and various other terminal, destructive monetary policies that have been proposed to kick on the current financial system the can just a little bit longer, that the topic of longevity of reserve currency status is once again becoming all the rage, and none other than JPMorgan’s Private Bank ask in this month’s investment strategy note whether “the dollar’s “exorbitant privilege” is coming to an end?”
So why is JPM, after first creating the iconic chart above which has since spread virally across all financial corners of the internet, not only worried that the dollar’s reserve status may be coming to an end, but in fact goes so far as to state that “we believe the dollar could lose its status as the world’s dominant currency (which could see it depreciate over the medium term) due to structural reasons as well as cyclical impediments.”
Read on to learn why even the largest US bank has started to lose faith in the world’s most powerful currency.
Is the dollar’s “exorbitant privilege” coming to an end?
In Brief
The U.S. dollar (USD) has been the world’s dominant reserve currency for almost a century. As such, many investors today, even outside the United States, have built and become comfortable with sizable USD overweights in their portfolios. However, we believe the dollar could lose its status as the world’s dominant currency (which could see it depreciate over the medium term) due to structural reasons as well as cyclical impediments.
As such, diversifying dollar exposure by placing a higher weighting on other currencies in developed markets and in Asia, as well as precious metals makes sense today. This diversification can be achieved with a strategy that maintains the underlying assets in an investment portfolio, but changes the mix of currencies within that portfolio. This is a completely bespoke approach that can be customized to meet the unique needs of individual clients.
The rise of the U.S. dollar
It is commonly perceived that the U.S. dollar overtook the Great British Pound (GBP) as the world’s international reserve currency with the signing of the Bretton Woods Agreements after World War II. The reality is that sterling’s value was eroded for many decades prior to Bretton Woods. The dollar’s rise to international prominence was fueled by the establishment of the Federal Reserve System a little over a century ago and U.S. economic emergence after World War I. The Federal Reserve System aided in the establishment of more mature capital markets and a nationally coordinated monetary policy, two important pillars of reserve-currency countries. Being the world’s unit of account has given the United States what former French Finance Minister Valery d’Estaing called an “exorbitant privilege” by being able to purchase imports and issue debt in its own currency and run persistent deficits seemingly without consequence.
The shifting center
There is nothing to suggest that the dollar dominance should remain in perpetuity. In fact, the dominant international currency has changed many times throughout history going back thousands of years as the world’s economic center has shifted.
After the end of World War II, the U.S. accounted for biggest share of world GDP at more than 25%. This number is brought to more than 40% when we include Western European powers. Since then, the main driver of economic growth has shifted eastwards towards Asia at the expense of the U.S. and the West. China is at the epicenter of this recent economic shift driven by the country’s strong growth and commitment to domestic reforms. Over the last 70 years, China has quadrupled its share of global GDP to around 20%—roughly the same share as the U.S.—and this share is expected to continue to grow in the years ahead. China is no longer just a manufacturer of low cost goods as a growing share of corporate earnings is coming from “high value add” sectors like technology.
China regaining its status as a global superpower
Earnings in China are becoming more balanced
In addition to China, the economies of Southeast Asia, including India, have strong secular tailwinds driven by younger demographics and proliferating technological know-how. Specifically, the Asian economic zone—from the Arabian Peninsula and Turkey in the West to Japan and New Zealand in the East and from Russia in the North and Australia in the South—now represents 50% of global GDP and two-thirds of global economic growth. Of the estimated $30 trillion in middle-class consumption growth between 2015 and 2030, only $1 trillion is expected to come from today’s Western economies. As this region grows, the share of non-USD transactions will inevitably increase which will likely erode the dollar’s “reserveness”, even if the dollar isn’t replaced as the dominant international currency.
In other words, in the coming decades we think the world economy will transition from U.S. and USD dominance toward a system where Asia wields greater power. In currency space, this means the USD will likely lose value compared to a basket of other currencies, including precious commodities like gold.
Dollar’s declining role already under way?
Recent data on currency reserve holdings among global central banks suggests this shift may already be under way. As a share of overall central bank reserves, the USD’s role has been declining ever since the Great Recession (see chart). The most recent central bank reserve flow data also suggests that for the first time since the euro’s introduction in 1999, central banks simultaneously sold dollars and bought euros.
Central banks across the globe are also adding to gold reserves at their strongest pace on record. 2018 saw the strongest demand for gold from central banks since 1971 and a rolling four-quarter sum of gold purchases is the strongest on record. To us, this makes sense: gold is a stable source of value with thousands of years of trust among humans supporting it.
USD share of central bank reserves, %
The current U.S. administration has called into question agreements with nearly all of its largest partners—tariffs on China, Mexico and the European Union, renegotiating NAFTA, as well as abandoning the Trans Pacific Partnership. A more adversarial U.S. administration could also encourage countries to reduce their reliance on USD in trade. Currently 85% of all currency transactions involve the USD despite the U.S. accounting for only roughly 25% of global GDP.
Countries around the world are already developing payment mechanisms that would avoid using the dollar. These systems are small and still developing but this is likely to be a structural story that will extend beyond one particular administration. In a recent speech on the international role of the euro, Bank for International Settlements Chief Economist Claudio Borio brought up the benefits of pricing oil in the euro saying, “Trading and settling oil in the euro would move payments from dollars to euros and thereby shift ultimate settlement to the euro’s TARGET2 system. This could limit the reach of U.S. foreign policy insofar as it leverages dollar payments.” The European Central Bank also alluded to this theme in a recent report saying that “growing concerns about the impact of international trade tensions and challenges to multilateralism, including the imposition of unilateral sanctions seem to have lent support to the euro’s global standing.”
We believe we are at an important juncture. On a real basis, the dollar stands currently more than 10% above its long-term average and on a nominal basis has actually been trending lower for 50 years (see chart below).
Given the persistent—and rising—deficits in the United States (in both fiscal and trade), we believe the U.S. dollar could become vulnerable to a loss of value relative to a more diversified basket of currencies, including gold. As we scan client portfolios, we see that many of them have far more U.S. dollar exposure than we feel is prudent. At this stage of the economic cycle, we believe this exposure should be more diversified. In many cases, our recommendation would likely be to place a higher weighting on other G10 currencies, currencies in Asia and gold (see chart).
FX exposure
330 Comments on "JPMorgan: We Believe The Dollar Could Lose Its Status As World’s Reserve Currency"
Cloggie on Sat, 27th Jul 2019 8:25 am
Britain has found its strong man, who is about to slash the Gordian Brexit knot, but Peter Hitchins has his grave doubts about Alexander Johnson (“Boris”):
https://www.firstthings.com/web-exclusives/2019/07/the-boris-act
“THE BORIS ACT”
Hitchins, who is a soft-Brexiteer, fears Boris is a con-man and thinks that Boris is about power only, but that he has no vision about what to do with it, now that he has it.
The Brexit drama has lasted long enough already and everybody, both in Europe and the UK, is fed up with it. Something’s got to give and in the end of the day the British did indeed vote for it. Certainly, based on a pack of lies (Brexit Bus, “350 million/week extra for the NHS” [*]) as peddled by the likes of Boris and Farage, still the outcome of the vote is a fact. The Brexiteers are about to win, ironically most likely because the EU will slash the Gordian knot, not Boris, who probably won’t be able to persuade parliament to vote in favor for it.
The Final Solution of the Brexit Problem will be that Boris will let time run out and let the Europeans pull the plug on Britain by granting no further extension of article 50. And cynically, Brexiteer Corbyn will play along and will NOT support a vote of no-confidence, but will let a no-deal Brexit happen under feigned “protest”, and in reality hope for the classical Marxist Verelendung to materialize…
https://en.wikipedia.org/wiki/Immiseration_thesis
…so Corbyn can take over government, once the British population understands what just has happened to them. From that position Corbyn hopes to approach the EU as UK PM and organize some Norway-style trade-deal. Corbyn doesn’t like Europeans that much (very few English do), but he dislikes (((American oligarchs))) even more and it is pretty certain he is not corrupted by the usual British (((“moneymen”))), and that he WILL defend the interests of the British small guy…
https://www.youtube.com/watch?v=ZNV_Hh5ZWaE
…irrespective of color and that he will be immune for the usual kosher push to step up immigration, but instead will steer Britain into geopolitical isolation. Splendid Isolation again, but this time without Americans.
From a continental European perspective this would be a highly desirable scenario.
[*] – The UK will save indeed 350 million per week, but at a cost of losing access to the most lucrative market in the world and in the end they could get stuck with up to 40% of their former exports, after they put themselves at a hopeless distance, now that they have to trade on WTO terms. There is no way that trade with the US can fully compensate for that loss. Friend and foe agree on that one. There is no economic rationale behind Brexit. But an identitarian one very well. German cars on British roads are going to be replaced by American ones or Vauxhalls. The British are going to close their curtains, swallow the loss, watch old war movies and enjoy an increased sense of national revival and sense of togetherness (but third world immigration from the Commonwealth will not be curtailed).
Britain is going to be thrown back in time. It is impossible to say if that is an improvement or not. What you CAN say is that it is a mega-geopolitical event, with the potential to overthrow the entire existing order, most notably the drifting apart of Europe and America and Europe making a U-turn towards Eurasia.
Cloggie on Sat, 27th Jul 2019 10:03 am
“the post was to shed light on the fact that Germany has made it a stated policy to reduce its footprint.”
And did:
https://deepresource.wordpress.com/2019/07/27/germany-spectacular-growth-with-less-energy-and-emissions/
joe on Sat, 27th Jul 2019 10:05 am
Cloggie has Brexit mania because he fears his precious EUSSR won’t survive and that socialism will fall yet again. It failed in Russia under Stalin it failed as Hitlerian national socialism and now it might fail as neocommunism aka “social democracy”. Keep going Cloggie. Every post you make just underscores and demonstrates just how right you are, the British and the Europeans are different.
Neocommunism has been very successfully splitting issues into dichotomous argument based on their dialectic style of inference from first principles that they missed that humans are more complex, sure they got far by infiltration of the liberal left by hiding in plain sight in schools and campuses by telling children that their parents were wrong about Religion and the world but school teachers don’t live in the real world, but the majority of people do, and they see what a failure that socialists have made education into, by forcing lower standards to ensure ‘equality’ and to achieve ‘social justice’ they have totally undermined the very wealth creating capitalism they hope to co-opt in their stupid fantasy of equality and freedom of choice etc. Democracy is failing because the left is so dumbed down and full of SJWs that they can’t provide a real opposition beyond idealist dreams and futurist fantasies.
Fake Dutch Green neocommie (posing as neonazi) Cloggie is one of those idiots. So keep going, I’m laughing at you. Go smoke a doob, man….
Cloggie on Sat, 27th Jul 2019 1:04 pm
German 20:00 news: DJT enjoys highest approval ratings since begin of his presidency.
Four more years!
Cloggie on Sat, 27th Jul 2019 1:10 pm
240 migrants from Africa are saved in the Mediterranean… and brought back to Morocco!
Spain has an agreement with Morocco, no doubt bought and paid for.
https://elpais.com/elpais/2019/07/19/inenglish/1563521682_999175.html
All gates to Europe are closed, thanks to the populists.
Trump has the green light to finally build the wall.
I AM THE MOB on Sat, 27th Jul 2019 9:50 pm
Don’t let Mexicans steal our culture!
https://i.redd.it/vz8qhabtyvc31.jpg
Cloggie on Sun, 28th Jul 2019 12:49 am
Reserve currencies come and go and last about a century. You’ll get over the loss, we did:
https://en.wikipedia.org/wiki/Reserve_currency
“The Dutch guilder emerged as a de facto world currency in the 18th century due to unprecedented domination of trade by the Dutch East India Company.”
Cloggie on Sun, 28th Jul 2019 3:11 am
Hit ’em hard!
I AM THE FLOP and resident kike loves to delude himself that Trump is a “raging neocon”. He isn’t, he is a white nationalist:
https://www.spiegel.de/wirtschaft/soziales/donald-trump-us-regierung-gegen-facebook-google-und-amazon-a-1279084.html
“Trumps Kraftprobe mit “Big Tech””
(Kraftprobe = showdown)
Trump is attacking the three most prominent jewish-owned high-tech companies in the US: Amazon, Google and Zuckerbook.
Er ist wieder da!
(He is back and his name is Drumpf!)
https://www.youtube.com/watch?v=rUZi67BmY_M
P.S. The movie “Er ist wieder da!” is based on a book written by a Turk and was highly successful, both as a book and film. Of course Hitler was mocked at, but only a little. The German empire press was extremely dubious about the film, because Hitler in their view wasn’t demonized enough and at times even portrayed sympathetic and funny and human. The actor who played Hitler confessed how amazed he was (if not frightened) when he discovered how much quiet sympathy Dolfie still has among German deplorables.
Turks in general are more sympathetic towards Germans than Americans, which explains the tone of the book; it is a quiet attack against the US and its NWO.
Trump’s attack against Amazon, according to der Spiegel, is highly political. Amazon is owned by a Jeff Bezos, the richest man on earth, even after his recent divorce (recently the 2nd is a Frenchman, who replaced Bill Gates), who also happens to own the Washington Post, a platform the jew Bezos is using to wage war against Trump, who had dared to piss in the kosher Deep State soup and hijacked the presidency.
Bezos is the best example why there must be a maximum limit to private wealth (say 50 million), “socialism!”-howlers like joe esq. be damned, because if there isn’t, oligarch billionaires like Bezos get way too much influence and are able to buy up democracy and impose globalism (so the jews can get even more powerful). Democracy in America is fake, for 100 years now, as even it’s academia (Princeton) has to admit:
https://www.washingtontimes.com/news/2014/apr/21/americas-oligarchy-not-democracy-or-republic-unive/
https://www.bbc.com/news/blogs-echochambers-27074746
https://www.theguardian.com/us-news/ng-interactive/2018/sep/26/america-oligarchy-dominated-billionaires-big-money-series
This must end and the means to get there is via the systematic destruction of j-power.
Donnie is working on it.
Four more years!
America is truly liberated if we have I AM THE FLOP on a train to the East (Upstate New York in this case).
Cloggie on Sun, 28th Jul 2019 3:26 am
“Hitler” on Dutch television:
https://www.youtube.com/watch?v=dTYlFx4EMf0
Mostly English, because, after all, Hitler could not prevent that Europe was to be colonized by the jews and their Anglos, unfortunately. The interviewer is Caraibian-Dutch, as he represents the US empire, essentially a media and dollar empire and racial communist.
But that is now almost over thanks to Trump and Brexit. The complete rewriting of WW1/WW2-history, as practiced here by me unopposed for years, will begin as soon as the English will have been removed from Europe by the EU, after they will fail to do so themselves (Westminster Bregret).
Cloggie on Sun, 28th Jul 2019 5:31 am
Global Britain latest – immigrant Uganda-Indian Priti Patel overseeing immigration policies. Bye-bye white Britain.
https://www.dailymail.co.uk/news/article-7293539/PRITI-PATEL-Home-Secretary-bluntly-reveals-determination-secure-borders-deal-no-deal.html
“I will shake up immigration, says PRITI PATEL: Home Secretary bluntly reveals her determination to secure our borders – deal or no deal”
We are a Government focused on bringing the change people voted for in the referendum and we want to unequivocally make Britain the greatest country on Earth.
LOL. Self-overestimation is a very British trait these days.
That means ensuring that we continue to push for a dynamic, global Britain that is outward looking and which lifts our standing in the world.
Our vision is for a truly global country – one where we welcome the brightest and best, where we are more outward facing, and where we decide who comes here based on what they have to offer.
Priti Patel is busy with her private darkie coup d-etat and declared that Britain from now on will be “global”, meaning no longer dominantly the home of the English, Welsh and Scots. If you would ask the average ethnic English commoner if they would subscribe to that idea, of becoming a minority in their former own lands, they would vote overwhelmingly “no”. But nobody of the British elite will ask these sort of questions. They will lie that Brexit is about “limiting immigration” (in reality only from white European lands), while opening the gates wide for non-white immigration, just like in the US.
What the globalist British Tory business elite plans to do is to “cherry-pick” brains from all over the Common-Wealth, causing a brain-drain from those poor countries, making the latter poorer, while demonizing the Tommy Robinson’s of England, who oppose that vision, under the motto: “demockressie is wonderful, but you shouldn’t smoke it over your lungs”.
Expect a similar scenario to develop in Britain in 10-20 years time, as we see happening now in the US, that is 10-20 years “ahead” of the UK: standing on the verge of CW2. Or in English parlor: “Rivers of Blood”.
And as a daughter of immigrants, I know the immense benefits immigration can bring. There is no dispute about the positive impact of immigration to our country.
Note that Pretty Pitel is making no distinction between a country and an economy, a fatal mistake.
Thank God, we continental Europeans, where the populists are winning, are now able to escape from this globalist pestilence and turn to Eurasia and team up with the mono-racial countries and promote a different identitarian model of society, where Chinese can be Chinese, Russians can be Russians, Europeans can be Europeans and Muslims can be Muslims, while out mongrelizing Anglo friends go up in smoke and we Europeans only have to go in and pick up the pieces afterwards. And, with WW1 and WW2 in mind, we don’t have to have too much empathy with our wannabee Anglo-Zionist world conquerors.
The future of Britain will be similar to that of the US: balkenization.
https://tinyurl.com/y6jreqef
The Anglo elite is a little too fond of money, like their great example and overlords, the jews. Who cares, they lost the USSR, they will lose Anglosphere.
Davy on Sun, 28th Jul 2019 5:39 am
“Global Endgame Looms As Soaring Debt Smashes Into Shrinking Populations”
https://tinyurl.com/y57mqss5 economica via zero hedge
“Looking at the same chart but running through 2050, with UN population projections and debt estimated to continue growing at the same pace it has since 1950 (these #’s are inclusive of the impact of immigration and emigration). Continued declines among the wealthy young consumers, growth among poor young non-consumers, and debt running from the current $250 trillion up to $2.6 quadrillion. NIRP (negative interest rate policy) will be necessary to enable this sort of wildly irresponsible debt load.”
“The chart below takes the UN population projection and estimated global debt through 2050, and drum roll please, by 2050 every consumer nation under 15 year old will be responsible for over $4 million in per capita debt. That is the magic of surging debt and declining population…and that is entirely unworkable. There is no possible way to repay or even service this sort of debt load in any free-market based fashion.”
“And annual changes in the populations…note the sharp acceleration in annual growth of consumer nations elderly since 2007 and the massive increases still to come. This isn’t even mentioning the unfunded pensions and liabilities due to these elderly. And putting the changing population growth in perspective, the same groupings below but showing only the 0-65 year old annual changes among the wealthier and poorer nations alongside the Federal Funds rate (yellow line). Note the deceleration of wealthier under 65 year old population growth from 2007 to now, and by 2023 turning to secular outright depopulation of consumer nations under 65 year olds throughout the remainder of the century. Again, the growth in potential consumption among the far poorer populations in no way offsets the declining potential of consumption among the declining wealthier populations…without ZIRP (or more likely NIRP) and debt of gargantuan proportions.”
Cloggie on Sun, 28th Jul 2019 5:58 am
https://www.dailymail.co.uk/news/article-3454560/Sadiq-Khan-defends-legal-work-representing-man-described-white-people-devils-insisting-worst-people-need-defence.html
Sadiq Khan defends his legal work representing a man who described white people as ‘devils’ by insisting ‘even the worst people need a defence’
It’s all going to work out fine, folks, honest!
LOL
“Global Endgame Looms As Soaring Debt Smashes Into Shrinking Populations”
Davy again with his financial “news”, the only category he is interested in. He is your typical money scraping Anglo after all. Identitarian motivations are denounced as “raycist” and “natzi”, that are contrary to the interests of the globalist business elite, of which self-described 1-percenter empire dave feels himself a member of.
Financial systems can indeed implode, without large numbers dying. We have seen that happening recently in Russia, Argentina and Venezuela. People lose indeed a lot of superfluous pounds (the average Venezuelan lost 11 kg), which is good from a health perspective, albeit uncomfortable.
Davy on Sun, 28th Jul 2019 6:48 am
“Sadiq Khan defends his legal work representing a man who described white people as ‘devils’ by insisting ‘even the worst people need a defence’ It’s all going to work out fine, folks, honest! LOL”
Cloggo, you consider people of color sub human??? So what is the difference?
Davy again with his financial “news”, the only category he is interested in.
LIAR, as usual.
“He is your typical money scraping Anglo after all.
WTF, is money scraping, cloggo?? If you are going to speak English then write properly.
“Identitarian motivations are denounced as “raycist” and “natzi”, that are contrary to the interests of the globalist business elite”
Fuck off chump, I am egalitarian which is proven by science. I am also realistic that nurture plays a part creating different circumstances for human value. Human value is then relative to different parameters. You are identarian proven by your “raycist” and “natzi”BS.
“of which self-described 1-percenter empire dave feels himself a member of.”
We are both 1 percenters, stupid, in the 7BIL global population grouping.
“Financial systems can indeed implode, without large numbers dying.”
Again more bullshit from the king of empty pronouncements. As if you have a clue but it sure sound reassuring like much of your tech bullshit. Nobody is sure what will happen if there is a financial system crash least of all you who has next to know business or economic understanding. You just look for big or small numbers to support your rabid euro chauvinism. FRAUD
“We have seen that happening recently in Russia, Argentina and Venezuela. People lose indeed a lot of superfluous pounds (the average Venezuelan lost 11 kg), which is good from a health perspective, albeit uncomfortable.”
LOL, dumbass takes a few collapsed economies out of context to try to explain how good a global financial crash will be. A perfect example of how dimwitted this dutch fraud is. One thing is for certain your socialist paradise will be no more with a financial crash. You nederlanders packed into that postage stamp country will not be happy.
I AM THE MOB on Sun, 28th Jul 2019 7:39 am
Alleged Teen Killers Reportedly Obsessed With Hitler, Putin, Trump
https://www.rollingstone.com/culture/culture-news/teen-killers-murder-canada-hitler-putin-trump-863932/
I AM THE MOB on Sun, 28th Jul 2019 7:40 am
All right wingers are mass shooters in waiting..That is what happens when you go down the delusional/insanity rabbit hole..
Cloggie on Sun, 28th Jul 2019 7:46 am
“you consider people of color sub human???”
Where do I say that? Quotes please. I work all day with Muslims and Indians on a respectful basis (I would be sacked anyway otherwise). “Cooperating on an individual bases” and “letting your country being overrun” are two very different things.
“We are both 1 percenters”
You brought it up at the time within the US context, not global context. 1-percenter means supporting the US empire and globalism and is not directly related to your finances.
Personally, with 120k gross I am indeed 0.1% in the Dutch context…
https://www.cbs.nl/nl-nl/visualisaties/inkomensverdeling
…and in net worth 400k = 4 times the Dutch average of 65-year old:
https://www.rtlz.nl/life/personal-finance/artikel/4613996/nederlands-rijkste-10-procent-bezit-64-procent-van-het
(almost all paid-off real estate).
But my political power is exactly zero, as you can expect for a techie, with zero affiliation with any of the existing political parties. My position (green-alt-right) transposed to the German situation, I would be:
pro-CDU (only to keep Europe together+Energiewende)
pro-Greens (only to protect the environment and transition)
pro-AFD (to keep Germany mostly German)
con-CDU (Merkel Marxist immigration agenda)
con-Greens (likewise)
con-AFD (I don’t trust them to keep Europe together; I did NOT vote for Dutch populist Baudet earlier this year in the EU-elections because of his Nexit-position, as we are not going to play into British/American hands. I rejected this “little-Englander”-nationalism in favor of hard-European power, extending into Russia and North-America)
The only “political influence” I have is posting on obscure blogs, for 2 decades now, aggregated at least 2 years full time, uncompensated.lol
Cloggie on Sun, 28th Jul 2019 7:56 am
All right wingers are mass shooters in waiting..That is what happens when you go down the delusional/insanity rabbit hole..
You are the one who repeatedly called for unprovoked nuking of Putin-Russia and killing millions in the process.
If you would get the chance, you would kill millions of white Americans, like your kind killed 20 millions in the Russian Gulags, this time with your freshly imported proletariat-of-color, combined with intimate knowledge of right-wingers, as stored in the files of (((Facebook))) and (((Google))):
https://www.youtube.com/watch?v=RC-Cqkq6zWc
Davy on Sun, 28th Jul 2019 9:03 am
“you consider people of color sub human???”
cloggo, your Natzi racism ranks white euros at the top, then Slavs, then what you consider sub human. Maybe the sub human should be low human. This point is reinforced daily with your Natzi racism. Quite stuttering and walking back and admit you are a white supremist racist.
“Cooperating on an individual bases” and “letting your country being overrun” are two very different things.”
BULLSHIT, cloggo, you cooperate because you have to but if you could you would have a solution with all people of color ejected violently if need be. You are a whining pussy of a white man. No wonder the white man is taking pressure from the rest of humanity. Pussies like you whining and failing to man up.
“We are both 1 percenters” “You brought it up at the time within the US context, not global context.”
AH, where cloggo? I am definitely not 1%. I said I could have been a 1% if I chose to continue my original career that brought me no fulfillment or enjoyment.
“1-percenter means supporting the US empire and globalism and is not directly related to your finances.”
Fuck that, who says. I support the planet unlike you that are a fake green dutch Natzi.
“Personally, with 120k gross I am indeed 0.1% in the Dutch context…” “and in net worth 400k = 4 times the Dutch average of 65-year old: (almost all paid-off real estate).”
Are you through bragging about your not so special self??
“My position (green-alt-right) transposed to the German situation, I would be:”
Fake green dutch Natzi is a better description
“as we are not going to play into British/American hands. I rejected this “little-Englander”-nationalism in favor of hard-European power, extending into Russia and North-America”
That’s right you are an empire lusting white bigot with a not so special life but acting like you are god like.
“The only “political influence” I have is posting on obscure blogs, for 2 decades now, aggregated at least 2 years full time, uncompensated.lol”
Please change the posting to spaming and the 2 decades to 2 decades 20/7. What a boring nondescript life.
Cloggie on Sun, 28th Jul 2019 9:22 am
“Fake green dutch Natzi is a better description”
We’ll talk again when America will enter the inevitable Grand Finale of your fake “racial egalitarianism”, obviously consumed in the 100% white Ozarks. I bet that your birthday parties, if any, are populated by 100% “howdy”-saying guests. And when the meltdown will commence, our resident virtue-signaling hypocrite will make his way to ultra-white Italy, the fascist original and NOT to Nigeria, if the New Italy will let in civilization destroying Marxists like you in the first place.
So much for his “racial egalitarianism”. Clown.
Davy on Sun, 28th Jul 2019 9:52 am
Cloggo, don’t fuck with me then you won’t look like a fool. It is amazing how a quiet day without lunatic juanpee brings out assholes like you, annoymouse, and senile makato. You low life’s love forum conflict
I AM THE MOB on Sun, 28th Jul 2019 10:10 am
Average hours of sunlight annually..
USA vs Europe
https://i.redd.it/p1y02yo030d31.jpg
Europe averages around 2 months of sunlight a year..And they think they are going to run their region off of solar power? AHAHA
Few folks realize how far North Europe is. London England is 60° north latitude, same as northern Canada. Europe is only warm because of the North Atlantic Drift of the Gulf Stream
joe on Sun, 28th Jul 2019 10:15 am
Cloggie suddenly starts using the phrase ‘marxist’after I called him out. Thats the sign of the commie worm trying to hide from the crow that’s trying to eat him. BTW it think your analysis of the condition of London is spot on. It’s Islamising at a rate now that it’s probobly lost to Islam. You also correctly point out that racism is becoming tolerated against whites (reason is because of leftist SJWs having no principles, only idealist fantasies and a false version of history taught by marxist teachers/lectruers). This intolerance of classical history (eg that colonialism had a civilising influence on barbarians in the wide world) is leading to belief in the marxist version of history, ie that the greedy capitalists went out on their boats with their infantile companies and stole the means of production and continue to do so. The longer that left wing ideas are promoted in education then the further from saviour we become. Classical capitalism is the only thing that can sav us at this point, only by working together in small groups ca humanity hope to outlive the end of socialism. Merkel went from communist nomenklatura to Christian Democrat and never stopped to get a brain transplant, she should have because her decision to open the gates of Europe is typical of neocommunisms goal of forcing a crisis to offer themselves as a saviour. But once you vote away your States their trotskyist ‘permenant revolution’ will turn on the very people that installed it. Empires don’t rely on fixed groups for support, they like to change, right now they are pitting migrants to counter natives, gays to counters conservatives, women to counter men, blacks to counter whites, etc but it’s all fake, as soon as they are strong enough, well all be marched off to the re education camps together. Just ask the uighurs in China. They are losing a mosque a day. The EUSSR is not far behind.
I AM THE MOB on Sun, 28th Jul 2019 1:08 pm
This is the guy who calls you a “cuck” online
https://i.redd.it/bjitrpm270d31.jpg
Fat and ignorant! This is what the white race has become!
I AM THE MOB on Sun, 28th Jul 2019 2:27 pm
German manufacturing reports industry ‘in freefall’ -Financial Times
https://www.ft.com/content/08010baa-aeb6-11e9-8030-530adfa879c2
Europe is falling!
They did it to themselves..AGAIN.
I AM THE MOB on Sun, 28th Jul 2019 2:41 pm
Ilhan Omar suggests people should be ‘more fearful of white men’ than jihadists in 2018 interview
https://nypost.com/2019/07/25/ilhan-omar-suggests-people-should-be-more-fearful-of-white-men-than-jihadists-in-2018-interview/?fbclid=IwAR2_pJk5NkoVWSLYqNbFP_AVE1t-8R38zsUeeivS_Lx-hQ5uyIuo0wz28dY
Cloggie on Sun, 28th Jul 2019 2:51 pm
“Ilhan Omar suggests people should be ‘more fearful of white men’ than jihadists in 2018 interview”
Absolutely correct, for people like her, within the US context.
https://documents1940.wordpress.com/2018/06/11/cw2-brewing/
Cloggie on Sun, 28th Jul 2019 2:56 pm
“German manufacturing reports industry ‘in freefall’ -Financial Times”
Excellent news. We have bigger fish to fry than creating ever more Audi planet killers. Instead it is time to prepare for huge geopolitical changes and setting up the military means to push them through.
Hello on Sun, 28th Jul 2019 3:02 pm
>>> ultra white italy
where? Last time I was down there it was pretty negro-ish. At least every major and minor city.
I AM THE MOB on Sun, 28th Jul 2019 3:15 pm
Top post on reddit today
Russian citizen in Moscow protesting against their corrupt government.
https://i.redd.it/vy2ln644vwc31.jpg
Putin is a monster..
Davy on Sun, 28th Jul 2019 3:42 pm
“ultra white italy Last time I was down there it was pretty negro-ish. At least every major and minor city.”
The north is still solid white up in the Alps. No room for migrants up there.
Cloggie on Sun, 28th Jul 2019 3:44 pm
“Cloggie suddenly starts using the phrase ‘marxist’after I called him out.”
Absurd. Do you actually know what a Marxist is? Of course not. No worries I’ll tell you. A Marxist is someone who thinks that all human bipeds are interchangeable or their catch-phrase: “EQUAL”. The only difference is skin-color and that’s it. And yes, you have some people with silly belief-systems, like Islam, or Hinduism and Christianity (Judaism is strangely always left out of the equation, one wonders why that is?), but no worries, that will wear off with time. IQ doesn’t exist, but Jews are very smart, you can say that again! And if someone dares to express doubt and point at the in his eyes huge differences between, say European and African peoples, it is brushed off, bringing “oppression” on the table. Recently we had a “Donald J. Chump” hanging out here who claimed that “Greek b*tfuckers” had stolen sacred knowledge from the blacks and that was the explanation for the currents sad state of affairs of black Africa. Americans like empire dave or the Jew York Times will do anything to keep the egalitarianism myth alive:
https://www.nytimes.com/2019/07/23/science/moon-landing-women-apollo-11.html
“Five Women Who Made the Moon Landing Possible”
They even made a feelgood movie about it: “you see, without these black ladies the moon-landing would not have happened”. And to be fair to the Americans, the fact that the real geniuses behind the spectacular success of the Apollo Program were Germans and natzis to boot, was of course hard to swallow.
You see, joe esq., Marxism comes in two flavors (so far):
– Economic (USSR, your noble WW2-ally, remember?)
– “Cultural” (USA, read: ethnic/racial)
These were/are the two attempts with which a certain tribe attempted to get the entire world under control, using the good services of the lesser Gods of the white race (Russians, Americans, British), who were unable to develop elites of their own that could resist them. Not for nothing is the term Marxism derived from an illustrious member of said tribe, Karl Marx.
Both attempts at communism failed, c.q. will fail.
The Russian flavor meanwhile has thoroughly been cured from the Marxist pestilence and seeks to connect to the European mainstream.
Won’t be different with parts of North-America, after the break.
Europe throughout history was attacked by three tribes from the depth of Eurasia:
– Huns – until 453
– Mongols – 1200-1300 (2nd largest empire in history, after the British empire)
– Khazars – end 19th century – now (in the US that is, Dolfie was so kind to kick them out of Europe)
At some point the Hun and Mongol terror simply vanished, never to be heard of again.
Won’t be different with floppy’s tribe, whose downfall is immanent.
Hope this helps.
Questions, joe esquire?
Davy on Sun, 28th Jul 2019 3:45 pm
“Putin is a monster..”.
Putin is the most able statesman today globally. The real monster is the US deep state and rabid liberals.
Cloggie on Sun, 28th Jul 2019 3:49 pm
“Putin is a monster.”
Mwhoa, he just doesn’t like your kind too much. Can’t blame him for that.
In America, lefties hit Richard Spencer.
In Russia, Putin hits lefties.
That’s why Russia has a future and you don’t (in your present shape).
Davy on Sun, 28th Jul 2019 3:50 pm
Cloggo is not a Marxist. He is an extremist Euro nationalist lusting for empire status believing a WW3 with mass death will initiate it. Somehow he thinks all this will turn out positive for his world. What a delusions soul he is.
Cloggie on Sun, 28th Jul 2019 3:55 pm
“Putin is the most able statesman today globally. The real monster is the US deep state and rabid liberals.”
That’s a home run post, empire dave!
Keep ’em coming.
I AM THE MOB on Sun, 28th Jul 2019 4:09 pm
Keep licking those boots Davy!
I feel sorry for the boomers..All they do is read or watch one news source and then repeat whatever is told to them without thinking..Notice clogg and davy both only share stories from far right laughable sources..That is because they need a biased source to re-enforce their deluded worldviews..lol
I AM THE MOB on Sun, 28th Jul 2019 4:12 pm
You have to love how clogg spins any negative news about Europe..The EU is in free fall and he thinks its great cause they have other work that needs to be done..You have to love the magical thinking and mental gymnastics the far right can do..I will give them credit for that, when it comes to using ‘make believe’ they are experts..
lol
Europe gets around 2 months of sunshine a year..And clogg thinks solar power is going to produce their energy needs annually..I guess math isn’t his strong..LOL
Cloggie on Sun, 28th Jul 2019 4:28 pm
“A no-deal Brexit would be an opening shot in a Johnson and Trump-led economic cold war with the EU”
https://www.independent.co.uk/voices/boris-johnson-donald-trump-eu-no-deal-brexit-economic-cold-war-a9022646.html
Almost too good to be true!
Russia and China, here we come!
https://documents1940.files.wordpress.com/2017/09/iron-silk-road.jpg?w=1100&h=710
Bye-bye UN!
Boris Johnson is now refurbish the no-deal threat to give it credibility, but this does not change the balance of forces which are, as always, skewed against Britain and in favour of the EU, something the Eurosceptics never seem to understand…
A British no-deal departure from the EU would, on the contrary, be opposed by so much of the population that it would produce a political earthquake, widening still further the fault lines within British society that are already gaping wide…
But temporary cohesion achieved by giving almost all ministries to a single faction of the Conservative Party, which itself is a minority in parliament, may well prove more explosive. The fact that the most important decision taken in Britain for eighty years is being taken by such an unrepresentative group delegitimises it from the beginning.
Cloggie on Sun, 28th Jul 2019 4:38 pm
“Europe gets around 2 months of sunshine a year.”
Italy 7% solar
Germany 8% solar
I have 6 panels on my roof, that produced annually 1600 kWh for 3 years now, covering exactly my needs (using the grid as a kWh bank of course) and having invested in super-efficient hardware (fridge 60 kWh/year, large freezer for garden 202 kWh/year, etc.)
2 months per year sun in Europe?
Make that 8 months even for cloudy Holland:
https://www.energiebusiness.nl/wp-content/uploads/2017/01/opbrengst-zonnepanelen-2016-solarcare.png
Typical Dutch cloudy landscape:
https://i.pinimg.com/originals/5e/78/bd/5e78bd579f471c6e20f2f40465ab4213.jpg
You’re not the brightest bulb in the Christmas tree, eh floppy? No wonder with such a name.
But that’s OK, remember I’m here to help you and provide you with insights you otherwise would never get.
I AM THE MOB on Sun, 28th Jul 2019 4:49 pm
Noam Chomsky: Life Expectancy in the US Is Declining for a Reason
Economic stagnation due to neoliberal policies is causing “deaths of despair” in the U.S., says Chomsky.
“There has been stagnation pretty much for the workforce over the whole neoliberal period. That’s the group that we’re talking about. Naturally, this leads to anger, resentment, desperation. Similar things are happening in Europe under the austerity programs. That’s the background for what’s misleadingly called “populism.”
https://truthout.org/articles/noam-chomsky-life-expectancy-in-the-us-is-declining-for-a-reason/
I AM THE MOB on Sun, 28th Jul 2019 4:53 pm
Clogg here is the actual data on sunlight in Europe and the US..Sorry, your painting was lovely but is not actual data..
Average hours of sunlight annually..
USA vs Europe
https://i.redd.it/p1y02yo030d31.jpg
Europe averages around 2 months of sunlight a year…Womp womp
Even in sunny Spain they couldn’t keep the largest solar company from going bankrupt..That is why Hispanic’s have darker skin..There is no such thing as “race’..That was a concept invented by early 19th century scientist’s before Darwin and others came along..
But idiots today still believe it because they want to feel naturally gifted because in reality they are losers in life..See Clogg who spends all day everyday on this blog for example..LOL
Cloggie on Sun, 28th Jul 2019 4:53 pm
Give Scotland back to the Scottish!
(melody Paul McCartney and Wings)
“Nicola Sturgeon will be rubbing her hands as Boris tilts the scales towards Scottish independence”
https://www.independent.co.uk/voices/boris-johnson-nicola-sturgeon-scottish-independence-indyref2-a9021661.html
To Scotland’s first minister, Johnson must seem like the biggest political gift of her career. She has already announced plans to hold another independence vote by 2021 if Scotland is taken out of the EU against its will, but following Johnson’s victory, Sturgeon said she may “accelerate” those plans because of her “profound concern” about his premiership.
That’s too soft. If Alexander Johnson can walk away from the EU without a deal, Scotland can walk away from Westminster without a deal. And if the English begin to sputter, that would be a nice occasion to get the EU army warming up.
The ascent of Johnson, an Etonian Brexiteer who embodies a brand of Englishness that practically drips with colonial nostalgia, personifies this growing divide. Johnson’s premiership makes him the face of the rift. His rise allows the SNP to paint these differences as not only political, but cultural too.
The Scottish aversion to Johnson can be seen in polls. When asked how they would vote should Johnson win the Tory leadership, 53 per cent of Scots said they would choose to leave the UK – that represented a potentially decisive 4 point increase from the previous level…
a poll of Tory party members recently showed that 63 per cent would accept Scotland leaving the UK in order to get Brexit over the line…
They say a week is a long time in politics, but judging by this one, Sturgeon’s good fortune looks set to last far longer.
Cloggie on Sun, 28th Jul 2019 4:58 pm
USA vs Europe
https://i.redd.it/p1y02yo030d31.jpg
That picture is showing a map where most hours of sunshine falls on territory that soon will belong to Mexico (again).
https://tinyurl.com/y265es2g
https://www.youtube.com/watch?v=a_YW3bilXpU
Womp womp.
MakeMexicoGreatAgain!
DemographyIsDestiny!
http://www.emersonkent.com/images/mexico_1786.jpg
Cloggie on Sun, 28th Jul 2019 5:09 pm
OMG, it is not just the SNP, now the Scottish Tories are defecting from BoJo’s (empty) no-deal threat:
https://www.independent.co.uk/news/uk/politics/ruth-davidson-boris-johnson-brexit-no-deal-war-cabinet-michael-gove-a9024191.html
“Scottish Tory leader Ruth Davidson goes to war with Boris Johnson: ‘I won’t support no-deal Brexit’”
https://www.independent.co.uk/news/world/americas/us-politics/trump-baltimore-tweet-katie-hopkins-retweet-violent-elijah-cummings-a9024551.html
“Trump retweets Islamophobic activist calling Baltimore a ‘s***hole’”
LOL
Never a dull moment in British politics:
https://www.independent.co.uk/news/uk/politics/jeremy-corbyn-boris-johnson-no-deal-brexit-no-confidence-motion-election-a9023941.html
“Jeremy Corbyn hints at plan to bring down Boris Johnson government before Brexit”
Again, Alexander, sign at the cross or run the risk of being kicked out by the EU on a no-deal basis.
Hey, lookies: the Independent allows a headline referring to “anti-semitic conspiracy theories”:
https://www.independent.co.uk/news/long_reads/trump-deep-state-conspiracy-democrats-iran-syria-foreign-policy-a9020836.html
“How the ‘deep state’ is trying to undermine Trump’s incoherent foreign policy and save the world”
I AM THE MOB on Sun, 28th Jul 2019 5:16 pm
Clogg stop changing the subject..
Blaming mexicans for lack of sunlight in the US and Europe..How dumb you can you be?
At least mexicans contribute to society..Unlike you who spends all day spamming lies and hate on the internet..
LOL
Cloggie on Sun, 28th Jul 2019 5:21 pm
EU hits back: “hands of backstop”
https://www.dailymail.co.uk/news/article-7294357/Emmanuel-Macron-ally-warns-Boris-Johnson-no-backstop-means-no-deal.html
“MEPs in new threat to trash Boris Johnson’s Brexit vision as his war cabinet steps up No Deal planning: Macron’s top ally in European Parliament says EU politicians will block any deal that does not include the backstop”
Perfect occasion for the EU to develop an iron fist.
Peace can be a little boring at times. We’re entering a total new phase in world history, the end of globalism and the return of Europe, now politically unified.
“Emmanuel Macron, pictured in the south of France yesterday, is believed to be firmly against granting a further Brexit extension”
The break is final, a new Cold War is immanent, Orwell was right:
https://documents1940.files.wordpress.com/2017/09/george_orwell_map.jpg
Let the darkies have Anglosphere. After all, isn’t everybody eekwel? Well then, bring it on!
Cloggie on Sun, 28th Jul 2019 5:24 pm
“At least mexicans contribute to society.”
Absolutely! And not only that, they take over society as well. We in Europe love Messicans. They are doing the work (taking over), so we don’t have to.
https://documents1940.wordpress.com/2018/05/21/european-america-is-over/
Cloggie on Sun, 28th Jul 2019 6:04 pm
Wow-wow-wow-wow. Patrick Cockburn suggest that Brexit is a mega-event on par with the “Glorious Revolution”, as we all remember the Dutch invasion and conquest of great-Britain and Northern Ireland, turning the country in a decent capitalist, protestant country and creating the conditions of the British empire to emerge:
https://www.independent.co.uk/news/long_reads/brexit-uk-regions-westminster-boris-johnson-remainers-a9009446.html
“Brexit Britain is on the brink of a ‘national breakdown’”
Patrick begins his article with a painting of the giant Dutch fleet.
https://tinyurl.com/y6l3g3dr
He even suggests that the Dutch invasion gave the British 4 centuries of stability (I didn’t know the Dutch were THAT good.lol):
Now they seem to be combining to provide the explosive ingredients in what is shaping up to be the greatest British general crisis since the “Glorious Revolution” of 1688. The date is not chosen at random: in the 17th century the British Isles were a byword for instability and violence and there is no reason this could not happen again. But for now the British, though not the Northern Irish, are over-accustomed by four centuries of relative domestic stability to assume that this is the natural state of things.
Birmingham has bounced back after from the collapse of its automotive industry in the 1970s and 1980s, but one of the architects of its regeneration, Sir Albert Bore, told me that he was fearful that the city’s economy could once again capsize outside the EU, which invested heavily in its renaissance. He says that “my mind almost explodes with rage” when he hears people blame the EU for problems caused by the failures of the UK government.
Leavers tend to be, consciously or unconsciously, believers in British “exceptionalism’’ who bridle at the mention of parallels between Britain and other nations. Remainers pride themselves on being more globally minded than their parochial opponents, but their preconceptions often turn out to be equally insular.
Where did I hear that before? 2 Anglo centuries won’t die easily.
Talking to Leavers around the country, I felt that the riskiest part of their version of English nationalism was that it was suffused with wishful thinking about English superiority in all things. Such assumptions were never true even in the glory days of the British empire. But such fantasies stop Leavers having a realistic view of the political and economic balance of power in the real world, particularly in the most deprived regions of Britain that voted solidly for Leave
BoJo: “greatest country on earth”.
That’s easy to say BoJo. What does it even mean? New imperial Lebensraum? Largest GDP per capita? Winning the World Cup? Jacob Rees-Mogg setting foot on the moon? Or new bombing runs against German civilian targets, together with the Yanks. Beware though, Germany has a lot of friends these days.
Boris Johnson reportedly plans as soon, as he is installed as prime minister, to seek a trade deal with the US to compensate for reduced access to the EU, but 45 per cent of British exports went to the EU in 2017 and 53 per cent of its imports came from there. The comparable figures for the US are 18 per cent and 11 per cent. Proximity matters: exports to Ireland are four times higher than those to Australia.
French journalist Adrien Jaulmes, writing in Le Figaro, neatly encapsulates the shifts that have already happened saying that “the UK has built its power on two principles: keep the British Isles united and the European continent divided. Today it is close to succeeding in doing the opposite.”
Amen.
I AM THE MOB on Sun, 28th Jul 2019 6:04 pm
clogg
Soon..
https://i.redd.it/4mfdodznv3d31.jpg
Davy on Sun, 28th Jul 2019 6:12 pm
“Keep licking those boots Davy!”
“Senate resolution calls for antifa activists to be labeled as domestic terrorists”
https://tinyurl.com/y33hzbbq Oregon live
MOBster, your buddies at antifa might come back to haunt you. I realize you didn’t have what it takes to make the cut IOW they rejected you but you still have connections with them. You do resemble a terrorist.