Regular readers of Offshore Safe Deposit Boxes know I bring up economist Martin Armstrong from time to time (case in point, the last entry) due to his views on subjects such as the War on Cash, gold confiscation, and safe deposit boxes.
This afternoon Armstrong was the focus of a post published my other blog- Survival And Prosperity. I wrote:
Like I’ve said before- for me, the jury’s still out on Armstrong. However, Washington’s Blog, which bills itself as “Real-Time, Well-Researched and Actionable News on America and the World,” published an insightful piece on the man and his forecasts back on December 30. From that post:
Martin Armstrong is a controversial market analyst who correctly predicted the 1987 crash, the top of the Japanese market, and many other market events … more or less to the day.
Many market timers think that Armstrong is one of the very best. Armstrong credits a computer program he created (which he calls “Socrates”) for the accuracy of his forecasting.
Armstrong’s background is even more dramatic because he was jailed for 11 years on trumped-up allegations of contempt, fraud and an alleged Ponzi scheme. Armstrong was ultimately released without any charges, and – as the documentary The Forecaster explains – the 11-year imprisonment was a way to try to pressure him to hand over his forecasting program.
Washington’s Blog sent a reporter to Armstrong’s annual conference in Orlando, Florida, to see what all the buzz is about …
(Editor’s note: Bold added for emphasis)
“Washington” noted Armstrong’s take on:
-Capital flows (declining)
-Debt (private superior to government)
-Europe (more chaos dead-ahead)
-U.S. stocks (bubble coming, then bust)
-European Union (Britain will survive because of Brexit)
-Cash (being eliminated by goverments for taxation purposes, negative interest rates)
-Foreign Account Tax Compliance Act, or FATCA (negative impact on global economy, yet positive for taxation)
-Politicians (self-interested, greedy bastards)
Read all about it on Washington’s Blog here.
By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com