October 19-25, 2024
Big news. The refusal of the FATF (Financial Action Task Force on Money Laundering, an intergovernmental organization existing under the auspices of the United States within the Bretton Woods system) to include Russia in its “black list”. The corresponding decision was announced and communicated through closed channels to the main participants of the financial markets as “a done deal”. But something went wrong.
Our hypothesis is that the decision was pushed through by that group of liberal financiers within the elite of the “Western” global project, which politically belongs to the “Clinton clan” (“rabid liberals”). This group has controlled the main Bretton Woods institutions for the last decades and, in fact, is responsible to the key owners of financial assets (“financial demiurges”) for the already effectively destroyed global dollar system. It is for this reason that we suggested several months ago that this group had been written off by the financial demiurges. Which, in particular, led to the emergence of the “Moore-Burns memorandum.”
If earlier this group simply dictated to FATF participants what and how they should vote, then after the “Moore-Burns memorandum” and the results of the BRICS summit in Kazan, it was forced to comply with the formal protocol. That is, to send for consideration detailed explanations of the reasons for such a decision and conduct a real vote.
But the legalization of the relevant explanations inevitably led FATF to the need to add a number of other countries to the relevant lists, primarily India. And such a decision already required political approval from the aforementioned liberal group, at least in the Biden administration. And perhaps at a higher level, among the financial demiurges. This liberal group is no longer capable of doing either one or the other.
Thus, the real weakness of the liberal financial group was publicly demonstrated. Yes, not everyone has understood this (yet). This is understandable, in fact, this is their first (and, of course, far from the last) failure on a global scale, which is why this event was moved to the first section of the Review. But as events unfold, the understanding of the decline in the real status of liberal financiers, who still control most of the Breton Woods institutions, will become clear to everyone.
Macroeconomics: UK industrial orders balance in negative territory for 27 months in a row:

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The Japanese industry’s PMI (an expert index of the state of the industry; its value below 50 means stagnation and decline) is the weakest in 7 months and in the recession zone (49.0):

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And in the service sector, the minimum for 32 months is also in the area of decline (49.3):

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Japan’s leading indicators at rock bottom since worst of Covid:

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Australia’s manufacturing PMI is the worst since Covid lows:

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Business confidence in France at its weakest since spring 2013 (excluding Covid):

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The same in Italy:

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The Chicago Fed’s US National Activity Indicator points to a 4-month decline:

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The Richmond Fed manufacturing index has been negative for 12 straight months and 28 of the last 30 months:

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The Kansas Fed Composite Index has failed to return to positive territory for 25 straight months:

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US mortgage rates unchanged for the week:

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This did not prevent loan applications from falling by another 6.7%, the 4th negative in a row:

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US Existing Home Sales Weakest in 14 Years:

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Unemployment claims in France +42.2k per month, excluding Covid, this is a 10-year peak:

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The number of people receiving unemployment benefits in the US has reached a 3-year high:

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New Zealand credit card spending -3.2% p.a., 7th consecutive month of negative spending:

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China’s central bank cut its key rate on one-year loans by 0.25% to a record low of 3.10%. Canada’s central bank cut the rate by 0.50% to 3.75%.
Main conclusions. The already mentioned BRICS summit in Kazan is certainly not an economic event, especially since it did not adopt any new financial decisions. But the important thing is that its scale and status turned out to be very high (even though a month ago liberal financial globalists had hopes that it would not take place at all).
The main point was that all participants (even China, which had not intended to do so before the summit itself) began to view it as a place to discuss the post-dollar world. In other words, the very fact of its holding began to have a very strong influence on the economic situation in the world.
The first section of the Review showed only one aspect of this situation. It has almost inevitably manifested itself in other places, albeit not on such a large scale, and will continue to manifest itself. Another systemic step towards the destruction of the global dollar system has been made. With which we congratulate our readers, who have long been prepared for such a development of events. In connection with which they can happily relax on the weekend and prepare for the work week.