Democracy!

First democracy, then hypocrisy. [Morning Reckoning] October 12, 2023 [WEBSITE]( | [UNSUBSCRIBE]( Democracy! - The People are finally learning the difference between democracy and freedom. - They are not the same thing. - When you wholesale import people who disagree with you, you can’t silence them. [A.I. Genius Shocks The World…]( [Click here to learn more]( In 2007, he predicted Facebook would become a $100 billion company. In 2010, he predicted Apple would reach a three-trillion-dollar valuation. In 2013, he called Bitcoin -- before it rose 50,000% and ultimately reached a trillion-dollar market cap. And now, this A.I. Genius is stepping into the spotlight to predict the next-trillion stock. [To see his shocking new reveal, go here now](. [LEARN MORE]( Asti, Northern Italy October 12, 2023 [Sean Ring] SEAN RING Good morning Reader, Greetings from lovely Northern Italy. It’s a habit of the midwit to parrot famous quotes. One of the most often quoted is Winston Churchill’s asinine observation that “democracy is the worst form of government, except for all the others.” He should’ve put a period after “government” and left it at that. When I hear that quote, it’s one of my unfailing signals that the person I’m talking to is out of ideas. It’s right up there with “It is what it is” or “et cetera, et cetera.” When right-libertarians like me complain about democracy, opponents immediately convict us in their minds of “fascism.” As if they knew what fascism really is. No, I prefer anarchism first. There are rules but no rulers. If I can’t have that, I’d take monarchy. For those of you who think Charles I is the best argument against monarchy, let me break the news to you. Charles I is the best argument in the world for monarchy. Why? Because Oliver Cromwell only had one head to cut off. Ah, the helplessness you’re feeling right now as you read this stems from your inability to calculate just how many heads you’d need to sever to free America, or any country in the Western world, from its current depraved state. In essence, democracy is a hydra. As Hans-Hermann Hoppe rightly points out, “Democracy has nothing to do with freedom. Democracy is a soft variant of communism, and rarely in the history of ideas has it been taken for anything else.” The Founding Fathers Were Right Do you want to know how much the Founding Fathers hated democracy? Go to [Congress’ webpage on the U.S. Constitution]( hit CTRL F to open up the search window, and type in “democracy.” You’ll find the term appears zero times. The Founding Fathers knew exactly what happens when penniless morons have the same vote as property-owning, educated families. Unfortunately, now you do, too. “One man, one vote!” you shout in fist-clenching anger. Do yourself a favor and think about that sentiment for a moment. That penniless moron, who has no redeeming attribute other than being over the age of 18, has a say, however small, in how much tax you pay, in how much of your tax goes to the military, and in how much you can say on social media. Why? Because they’re your fellow countrymen? Well, I’ll tell you something: after this weekend, there are plenty of people in the United States with whom I’m positively thrilled to no longer share a country. Let’s see why. [America no longer a superpower because of Biden?]( [Click here to learn more]( [Ever heard of America’s “Doomsday Deal”?]( It’s a deal so vital to our country’s wealth and security… Every President for 50 years has defended it at all costs. Until Calamity Joe Biden. [Biden broke the deal](. And I now predict… The America we love is doomed. And the biggest wealth transfer in US history is now underway. [>>See the truth about Biden’s terrible mistake HERE<<]( [LEARN MORE]( Whoopsy! This is positively delicious. David Weissman, if Paradigm Press allowed me to award “Numpty of the Week,” you’d be the first winner. [tweet] It’s amazing what happens when you back a terrorist group. And then wonder why the terrorist group you backed is supporting a terrorist group that’s just murdered over a thousand of your people. Yes, David, The Right was right, as usual, about BLM. More importantly, will David vote Democrat again in 2024 while the Republicans are taking care of his business? BLM, who I thought just took the money and ran, seems to have a pulse still, regrettably. [tweet] Sadly, BLMChicago took down this tweet. But the damage is already done. And what about The Squad? Little Mogadishu, a section of Minneapolis, Minnesota, is home to some of the 94,000 Somalis who either came after the civil strife in the early 1990s or are their descendants. Ilhan Omar, a Somali-American, represents Minnesota's 5th Congressional District. Her election to Congress in 2018 was a significant milestone, as she became the first Somali-American to serve in the U.S. House of Representatives. Did you not think they’d vote for “one of their own?” Should they not rightly be proud that one of their own is in the House? In case you didn’t know, Somalia is 99.8% Muslim. Why on earth do you think they’d side with Israel? This is my point. If you want a democracy, you’re going to get something you may not have wanted. And that’s people with opinions of their own that are anathema to settled Americans. These people think American support of Israel isn’t so much a friendship as an empowerment of an oppressive regime that’s turned Gaza into the world’s largest open-air prison. And what about poor old Larry Summers? [tweet] After decades of letting in people who think slavery built America, Larry wonders why the university didn’t back Israel unequivocally. Many of Harvard’s student groups explicitly backed the Palestinians before Bill Ackman demanded and received a list of those students from those groups. Suddenly, the kids found employment more important than “the cause.” With the students at odds with Larry, how could the university come out with a unanimous statement? But it’s not just America. Europe Creaking Remember when Ursula von der Leyen tweeted this: [tweet] No word on whether she’s okay with Israel publicly announcing they’ll do the same. The problem is Europe invited — yes, invited — 2 million people (mostly Muslim) in 2015, thanks to former German Chancellor Merkel. They’re here. They have their own opinions. But I guess Barack Obama didn’t care about that when he gave Tony Blair and Nicolas Sarkozy the green light to destroy Libya for its oil. That opened the boat routes from North Africa to Lampedusa and beaches beyond. Here was von der Leyen on Monday: [tweet] And here’s UK Prime Minister Rishi Sunak: [tweet] That Community Note, by the way, is true. And here’s why these politicians should beware of jumping on the bandwagon too soon. It’s not because Israeli civilians don’t deserve their support. They certainly do. It’s because they’re not necessarily representing their citizens’ views. You know, the people who democratically elected them. Here’s the data on the [Muslim population in various European countries]( Those numbers will only grow from here. Wrap Up This will end neither soon nor well. But I hope and pray for zero civilian casualties. Of course, that’s not realistic. But more disconcerting is that natives, refugees and newly minted citizens are tearing apart Western countries. We simply disagree. But the consequences of those disagreements are profound because of our system of government. Under a monarchy, there’s one person in charge. We can always behead them if we need to. And that’s a comforting thought. Well, maybe not for Charles I. But after the British realized their mistake, they restored the monarchy under Charles II. The Big Wigs were back, and fun was had by all. If only that apocryphal old yarn of Washington being offered the crown was true. I, for one, would have had him take it! Ah, one can dream. Now, back to bloody reality. Everyone has differing opinions on this topic… but let me know what you think by emailing me [here](mailto:feedback@dailyreckoning.com). All the best, [Sean Ring] Sean Ring Contributing Editor, The Morning Reckoning feedback@dailyreckoning.com X (formerly Twitter): [@seaniechaos]( [Urgent Notice From Paradigm CIO Zach Scheidt!]( [Click here to learn more]( Hi, Zach Scheidt here… I’m the Chief Income Officer at Paradigm Press. With inflation raging (and showing no signs of coming to an end any time soon), almost everyone in America is feeling the pain in a big way. Which is why, several months ago, I set out on a big mission… my goal was to create a [complete, step-by-step plan to surviving and beating inflation]( one that anyone could take advantage of. Today, after hundreds of hours of research, I’m revealing all of my findings. [Simply click here now to see how to survive America’s deadly inflation crisis](. [LEARN MORE]( In Case You Missed It… Your Econ Professor Lied to You Greg Guenthner, Editor [Greg Guenthner] GREG GUENTHNER Good Morning Reader, Stocks are once again caught in a vicious chop this week as emerging geopolitical strife throws new wrenches into the market’s gears. No, we’re not tumbling into the abyss. In fact, I would characterize what we’re seeing as a normal pullback. The averages marched off their lows and didn’t look back during the entire first half of the year, with many stocks continuing higher into the late summer. It was an easy time to find snapback runners and other strong trends. Yet all good things must come to an end. Fall is in the air – and cracks have appeared in the markets. It’s not time to sound any alarms. Not yet! Stocks are caught in a typical seasonal pullback at the moment. Nothing more, nothing less. As I’ve mentioned before, I’d be more concerned if stocks didn’t take a break this fall. If we’re hoping for any type of year-end melt up, we need a fall pullback to help set the table for the impending rally. But let’s not get ahead of ourselves… We won’t have a clear path until the averages bounce. Or, if the bears have their way, we finally crack below key levels. The best move is to sit on our hands until the market offers us some clarity – one of the most difficult tasks required of traders and investors. It might feel like you aren’t doing anything constructive when you aren’t buying or selling. But this couldn't be further from the truth. Messy market conditions give us an opportunity to review past trades, reassess our strategies, and plan our next moves. These choppy markets have allowed me to tell you a little bit more about my story, how I found trading, and how you too can learn to think like a trader to improve your market returns – and even change your life. Over the past couple weeks, we’ve discussed some core trading principles… I’ve noted that successful traders take advantage of opportunities when they present themselves – long or short. We also talked about how traders don’t have to tie themselves to a wall of glowing monitors to make money. Yes, it’s possible to buy and sell just a couple times per week, if that. Profitable traders can have lives outside the market, attend their kids’ soccer games, and even take off time during normal market hours. Imagine that! We discussed how profitable traders need to reject the idea that fundamental company information has any predictive power over short-term price fluctuations. Fundamental and economic analysis is undeniably important in the long-term – but it’s useless for attempting to determine when to buy or sell stocks. Finally, a trader must learn that he can’t obtain a secret edge in the markets. There’s simply no special information that can give us an advantage over the pros or help us predict the future. Price is Truth I know some of these revelations might be hard to swallow. After all, it goes against everything we were taught in school. If you’re a slow learner like me, it might take you years to come to these realizations. But the sooner you can accept these core trading concepts, the quicker you can begin booking consistent profits. That brings us to strategies. If we accept that thinking like a trader is the only way to consistently make money over any timeframe, how can we begin to put these ideas to work in the real world? The first step is a complete reliance on price. A trader insulates his mind from the news and hype, opting instead to focus on price action and other irrefutable facts. Why is price irrefutable? As legendary technician Ralph Acaompora explains, unlike earnings, price is never restated. If a stock closes at $50, that is the closing price on that date forever. End of story. There is no debate as to the price of a security at any given moment. The quote is the quote. This means we can accurately plot a price chart over any timeframe. Thanks to the marvels of modern computing, this requires no research or skill whatsoever. We simply pull up an interactive chart from our brokerage trading platform, or any other stock market research site of our choosing. Price is at our fingertips over any timeframe we choose. The “Magic” is in the Charts Charts are a trader’s best friend. Unfortunately, too many trading tourists think there’s something magical about the lines we draw on these stock charts. Of course, this is completely false. I can attest that there’s no alchemy involved in plotting lines on a chart. These lines simply connect price points of interest. Since price is never restated, we can use our price charts to pinpoint areas where large groups of traders and investors have exchanged shares. That’s important information! If price is churning sideways and continues to get rejected every time it rallies toward $50, we can assume this is an important price for this particular stock. This is an area where shares have exchanged hands on multiple occasions, and the stock is running into sellers every time it teases these levels. If our fictional stock finally moves above $50 after multiple attempts at this area over a significant amount of time, this tells us that the sellers have been overrun by more aggressive buyers, which typically leads to a strong move higher. Now, you have a situation where anyone who bought shares at $50 is more reluctant to sell as the stock moves higher. Why would they sell now? They’re showing strong gains! That creates a snowball effect, leading to a fast move higher as fewer eager sellers can drag the price down. This is what happens when a stock breaks out – it clears a level that has acted as resistance and is moving into blue skies. No magic required! If we are able to find and harness these breakouts, we can buy a stock just as it’s making a strong move higher. The fundamental reasons for the move – if any – simply don’t matter. All we have to do is play the percentages. Some breakouts fail. Some market conditions aren’t as conducive to trading them. But over a long enough timeframe, the odds will work in our favor if we’re managing our risk properly. To be continued… Best, [Greg Guenthner] Greg Guenthner Contributing Editor, Morning Reckoning feedback@dailyreckoning.com Thank you for reading The Morning Reckoning! We greatly value your questions and comments. Please send all feedback to [feedback@dailyreckoning.com.](mailto:dr@dailyreckoning.com) [Sean Ring] [Sean Ring, CAIA, FRM and CMT]( is a former banker and financial educator and is the editor of the Rude Awakening. Sean has trained interns and graduates from Goldman Sachs, Morgan Stanley, Citi, Bank of America, Standard Chartered Bank, DBS (Singapore), the Abu Dhabi Investment Authority (ADIA), Bank Indonesia (the central bank), HSBC, Barclays, RBS, and BlackRock. He knows the global economy is being corrupted by forces that most people can't understand and has used his unique and worldly experiences to help people navigate the markets. [Paradigm]( ☰ ⊗ [ARCHIVE]( [ABOUT]( [Contact Us]( © 2023 Paradigm Press, LLC. 808 Saint Paul Street, Baltimore MD 21202. By submitting your email address, you consent to Paradigm Press, LLC. delivering daily email issues and advertisements. To end your The Daily Reckoning e-mail subscription and associated external offers sent from The Daily Reckoning, feel free to [click here.]( Please note: the mailbox associated with this email address is not monitored, so do not reply to this message. We welcome comments or suggestions at feedback@dailyreckoning.com. This address is for feedback only. For questions about your account or to speak with customer service, [contact us here]( or call (844)-731-0984. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees to you should be deemed as personalized financial advice. We allow the editors of our publications to recommend securities that they own themselves. However, our policy prohibits editors from exiting a personal trade while the recommendation to subscribers is open. In no circumstance may an editor sell a security before subscribers have a fair opportunity to exit. The length of time an editor must wait after subscribers have been advised to exit a play depends on the type of publication. All other employees and agents must wait 24 hours after on-line publication or 72 hours after the mailing of a printed-only publication prior to following an initial recommendation. Any investments recommended in this letter should be made only after consulting with your investment advisor and only after reviewing the prospectus or financial statements of the company. The Daily Reckoning is committed to protecting and respecting your privacy. We do not rent or share your email address. Please read our [Privacy Statement.]( If you are having trouble receiving your The Daily Reckoning subscription, you can ensure its arrival in your mailbox by [whitelisting The Daily Reckoning.](