Join Us at the 2023 World Economic Conference in Orlando, Florida!

? Dates: November 17, 18, and 19 ? Location: Orlando, Florida, USA (or tune in from home with our virtual ticket options)

Are you ready to unlock the future of economics and finance? Prepare for an unforgettable World Economic Conference experience in sunny Orlando, Florida! This premier event is your gateway to insights, networking, and valuable resources that will supercharge your understanding of the global economy.

?️ What’s Included for In-Person Attendees:

1. Event Admission: Enjoy reserved seating assigned based on the order of ticket sales, ensuring you have a prime view of every presentation.
2. Presentation Slides: Gain access to the presentation slides from all speakers, allowing you to delve deeper into the topics discussed.
3. Video Recording: Can’t make it to a session? No worries! You’ll receive access to video recordings of all conference presentations, so you can catch up at your convenience.
4. WEC Event App: Connect with the conference on a whole new level. Access presentation slides, bonus reports, recordings, and more via the official WEC Event App.
5. Bonus Conference Materials: Get a package of bonus conference-related materials, including exclusive bonus reports and videos (as provided by Martin Armstrong).
6. Morning Information Sessions: Don’t miss out on important morning information sessions, screened on-site in the meeting room on Saturday and Sunday.
7. Networking Opportunities: Exclusive access to the Event App Networking Feature allows you to connect with fellow attendees, both in-person and virtual, fostering valuable professional relationships.
8. Culinary Delights: Savor delicious breakfast and lunch on Saturday and Sunday, prepared to keep you energized throughout the day.
9. Cocktail Reception: Kick off the conference in style at our Friday evening cocktail reception. Meet and mingle with fellow attendees while enjoying refreshing drinks.
10. Swag Bag: As a token of our appreciation, each in-person attendee will receive a swag bag filled with goodies, including an Armstrong Economics notebook, pen, and an event collector’s mug!

Unable to travel? We also have two different ticket options for those wishing to attend virtually! 

Don’t miss this opportunity to be part of a global gathering of economic and financial minds. Secure your spot at the World Economic Conference in Orlando, Florida, and gain the knowledge, connections, and resources you need to thrive in the world of finance and economics.

Space is limited, so act now and reserve your seat! Visit our Events page to register and join us in sunny Orlando this November.

Now available at all major retailers!

The eBook will be available shortly.

The second edition of “The Plot to Seize Russia – The Untold History” is now available for purchase in paperback and hardcover on Amazon and Barnes and Noble. The ebook will be available shortly.

Book description:

“Take care of Russia,” Boris Yeltsin said as he departed his presidency in August 1999. These words were directed at current Russian president, Vladimir Putin. Yeltsin specifically picked Putin as his predecessor to prevent the takeover of Russia.

So, who was Yeltsin warning against? Newly declassified documents from the Clinton Administration prove that there was a plot to rig the Russian election of 2000. These never-before-seen documents confirm numerous attempts to implement pro-Western policies using the Russian oligarchy headed by Boris Berezovsky.

On the other side were the communists who desired a return to the glory days of the Soviet Union. As one of the largest international hedge fund managers, author Martin Armstrong found himself in the middle of perhaps the greatest espionage, or attempt at a regime change for Russia, in modern history.

The Plot to Seize Russia pulls back the curtain to expose the most extraordinary attempt to seize power in modern history, but with the pen rather than armies. These declassified documents reveal a plot that has altered our thinking about the relations between the United States and Russia. The thirst for power comes seething through every line of these papers that alter our perception of reality, change the course of history, and now threaten us with World War III.

PRIVATE BLOG – Iran & the Coming Paradigm Shift

Private blog posts are exclusively available to Socrates subscribers. To sign-up for Socrates or to learn more, please visit Ask-Socrates.com.

https://ask-socrates.com/

QUESTION: Some claim that gold and silver are skyrocketing in terms of fiat currency prices because of the realization that fiat currencies are failing – mainly due to high inflation and unpayable national, corporate and personal debt. All fiat currencies eventually fail. Only precious metals have retained, on average, a consistent purchasing power over the past 6000 years because time and energy cannot be printed out of thin air like fiat currency. I think Zero Hedge refuses to post your comments any more because they are always anti-fiat. I see your point that the metals are no more a store of value than anything else since they too fluctuate. Is fiat currencies not the issue as all the hype claims?

Jeff

ANSWER: I find that these people who purport that all the evil comes fiat currency as if we returned to gold as money would solve all the problems. They REFUSE to look at history. They seem to think that the debt crisis today is purely because of fiat currencies. For that to be true, then there should be no sovereign defaults previously. That is just not the case. The metals have been rising because of the threat of war and that introduces the risk of what currency survives. Gold decline for 19 years between 1980 and 1999 with the debts rising and the fiat currencies. So that claim does not stand the test of history.

Spain became the richest nation in Europe thanks to wanderings of Columbus. Nonetheless, the amazing Decline and Fall of Spain is perhaps the greatest lesson if someone wishes to write “How NOT to Manage Government For Dummies.” The Spanish became both the richest nation yet the greatest debtor, not that dissimilar from the United States and succeeded in ending up as the poorest and this was all BEFORE fiat currencies or more correctly – paper currencies.

However, Spain became a serial defaulter beginning in 1557 followed by 1570, 1575, 1596, 1607, and 1647 ending in a 3rd world status without hyperinflation. This was when gold and silver were money well before paper currency. So, obviously fiat had nothing to do with that. Their economic model was one of conquest and plunder, rather than developing domestic industry and a viable economy. The lesson to be learned from Spain is precisely what Adam Smith wrote in his 1776 Wealth of Nations:

“Like an improvident spendthrift, whose pressing occasions will not allow him to wait for the regular payment of his revenue, the state is in the constant practice of borrowing of its own factors and agents, and of paying interest for the use of its own money.”

Look, the problem is NOT what is money, the problem is government and the quest to always spend more than they have. This is true long before paper money appeared in the West during the lat 17th century.

I understand that there are those who hate my guts because they want to BELIEVE that gold is the only money and that ending central banks and paper money will some how create Utopia. That would only lead to a Dark Age. Money is merely the medium of change. That is all. It began as barter, I will give you a chicken for those vegetables. The real importance of metal becoming the medium of change was that it suddenly allowed for the accumulation of wealth. You could not store barley, or cattle and chickens or potatoes indefinitely.

The first metal to be used as a medium of exchange was SILVER not gold. Even the Bible has passages about weighing the silver for a transaction. Metal enabled capitalism for suddenly one could accumulate wealth. Once that took place, then excess money enabled investment. Then markets developed. Here is a Babylonian tablet recording a futures contract.

It does not matter what the medium of exchange might be. It is always on the opposite side of assets. This has been the true for 6,000 years. So your statement that gold has been money for 6,000 years is incorrect. Gold only emerged in coinage during the 7th century BC. Silver predated gold by at least 1,000 years and bronze before that.

The problem is by no means fiat currency. That is like blaming the gun for killing someone rather than the person pulling the trigger. Gold and silver hold a unique position in the monetary history. They are the same commodity everywhere. Even crude oil has different grades. Gold is the same ine China and India and it is in New York or London. It has been a movable asset unlike real estate. The risk gold and silver now face is capital controls to shut down the flight of capital. This is why platinum is starting to rise against gold for at least platinum has never been the subject of capital restrictions.

Stop blaming fiat and assuming gold will solve everything when the problem is those in power!

Nancy Pelosi officially announced her resignation from politics this year. The former House Speaker found fortune in politics, accumulating $130 million from equities during her 38-year tenure. Her returns would make the most seasoned money manager stutter—16,930%.

As a comparison, the Dow Jones “only” yielded 2,300% during the same time period. Her annual return was a grotesque 14.5%, outperforming every major index. Her portfolio raked in 54% last year, doubling the S&P’s 25% return. She managed to outperform every hedge fund globally.

Pelosi amplifies every reason why Congressional term limits are crucial. Nancy Pelosi has accumulated a $240 million fortune through blatant inside trading. Microsoft, Google, Amazon, Nvidia, among others—when the government is making moves, her “husband” just so happens to make lucky trades ahead of the news. Her current salary is $174,000, previously $223,500, and she will earn a $139,000 annual pension upon retirement. Naturally, she will still have those inside sources and continue to grow her wealth.

Progressive members of the Democratic Party have been pushing Pelosi out. The younger generation is more socialistic and less willing to openly generate wealth through backroom deals. Although she has not officially declared retirement, Pelosi is 86 years old and facing numerous health issues. The Democratic Party is separating in a massive way, becoming a national embarrassment. She has nothing to lose by sliding away from the swamp now, especially is Prop 50 passes in California and provides the Democrats more leverage in the elections by redrawing congressional district maps.

California state experiences a payroll contraction during the first eight months of 2025, marking the largest job decline since COVID. The state’s 5% unemployment rate is above the national average and has remained so for the past 19 consecutive months. Over 173,000 jobs disappeared from California from January to November 2025, a 14% annual increase, with the tech sector alone shedding 75,262 jobs.

Fannie Mae is fleeing San Francisco to Birmingham in 2026 as it has become impossible to conduct business in California. Numerous major companies have announced relocations from California in the upcoming year. The Walt Disney Company will relocate around 2,000 jobs in Southern California to Central Florida. GAF Energy, a solar roofing company, plans to shut down its headquarters in San Jose in favor of Georgetown, Texas. John Paul Mitchell Systems, a hair products manufacturer, will relocate HQ to Dallas.

Governor Gavin Newsom believes he can continue spending and rescue the state from the debt through taxation. Fleeing businesses can’t pay taxes, and California forces both businesses and residents to pay some of the highest taxes in the nation. All corporations operating in the state must pay a flat corporate income tax rate of 8.84% on net income. Banks and financial institutions pay a bit more at 10.84%. There is an annual franchise tax of $800 for businesses as well. But wait—corporations are still beholden to the 21% federal corporate income tax, which means businesses are paying roughly 29.84% on corporate income taxes alone.

Payroll taxes in California are higher than the national average, largely due to social programs like State Disability Insurance (SDI) and the Employment Training Tax (ETT), which must be paid in addition to Unemployment Insurance (UI). There is a personal income tax withholding of up to 14.63% that employers must withhold from employees as well.

Companies reducing their tax liability through research and development (R&D) credits or those operating at a net operating loss are the only industries growing in California right now The expansion of the AI sector and venture capitalism is propping up California right now. Newsom would not admit it but the One Big Beautiful Bill provided the state with a major stimulus. AI investment in California has reached $405 billion for the year, nearly doubling the $250 billion estimate.

Capital flees excessive regulation and it’s almost a no-brainer for corporations to move beyond state lines where operating costs are drastically lower.

While the world has focused on Russia/Ukraine, the tensions are rising between the US and China. Let’s face reality. China could move so fast against Taiwan that any hope of U.S. military intervention might arrive way too late to make a difference. China launched a surprise multiday military exercise completely surrounding Taiwan dominating Taiwan’s air space, naval space, and ground forces in an exercise that simulated a total blockade of Taiwan and attacks on its critical infrastructure.

As far as the share market is concerned, 2025 should prove to be the highest annual closing after a 17-year rally. The year 2026 is a Directional Change. We still see January as a Panic Cycle so caution is advisable for a turn back to the downside.

China has adopted what is known as the “All-Dimensional Deterrence outside the island chain.” This is a very clear reference to intercepting any U.S. military forces in the Western Pacific Ocean that might attempt to intervene in Taiwan’s defense against an actual attack.

The State Department has come out and stated for the New Year:

“China’s military activities and rhetoric toward Taiwan and others in the region increase tensions unnecessarily. We urge Beijing to exercise restraint, cease its military pressure against Taiwan, and instead engage in meaningful dialogue,” said State Department spokesperson Tommy Pigott on Thursday. He also added: “The United States supports peace and stability across the Taiwan Strait and opposes unilateral changes to the status quo, including by force or coercion.”

It was the Neocons who were in charge of the Biden Administration even sent Pelosi to Taiwan to instigate a confrontation with China in 2022 as they did in Ukraine to start the war with Russia.

The One China policy in the context of U.S. diplomacy refers to the United States’ acknowledgment of the position held by the People’s Republic of China (PRC) that there is only one China and that Taiwan is part of China. The U.S. does not explicitly endorse the PRC’s claim but “acknowledges” it.

The policy was formally adopted during the process of normalizing relations between the United States and the People’s Republic of China in the 1970s. The first policy was issued By President Nixon known as the Shanghai Communiqué (February 28, 1972). This was issued during President Richard Nixon’s historic visit to China; this is the foundational document. The U.S. side declared:

“The United States acknowledges that all Chinese on either side of the Taiwan Strait maintain there is but one China and that Taiwan is a part of China. The United States Government does not challenge that position.“

Later under President Jimmy Carter, the U.S. switched diplomatic recognition from the Republic of China (Taiwan) to the People’s Republic of China. This became known as the Joint Communiqué on the Establishment of Diplomatic Relations (January 1, 1979). The U.S. “recognizes the Government of the People’s Republic of China as the sole legal Government of China” and “acknowledges the Chinese position that there is but one China and Taiwan is part of China.”

Then in 1979, Congress passed by the following normalization known as the Taiwan Relations Act (April 10, 1979). This act provides a legal framework for continuing unofficial relations with Taiwan and commits the U.S. to providing Taiwan with defensive arms. It creates a persistent tension with the commitments in the Joint Communiqués.

Then the U.S. stated it “does not seek to carry out a long-term policy of arms sales to Taiwan” and intended to reduce arms sales gradually. This was the August 17 Communiqué (1982).

Consequently, the U.S. One China policy was articulated in the 1972 Shanghai Communiqué and cemented in the 1979 Normalization Communiqué. It is based on the Three U.S.-China Joint Communiqués and is fundamentally different from the PRC’s One China Principle, which insists Taiwan is an inalienable part of China. The U.S. policy is a deliberate, strategic ambiguity that acknowledges the Chinese position without endorsing it, while maintaining substantive unofficial ties with Taiwan.

Pelosi’s trip in 2022 has definitely set in motion rising tensions in 2023

which will escalate into 2027 with the rising risk of war.

QUESTION: You first publicly forecasted that gold would reach $5,000 per ounce in late 2009, specifically on November 7, 2009. You said the earliest would be $5,000 by 2016 if there was international war. But you said that the $5,000 target would be more likely by 2027 to 2032. I believe you said your extreme target was $12,000 but that was not highly likely. You correctly said that 2015 was the low on a 3-year correction and gold was just $1100 when you made that forecast. Has anything changed in nearly 10 years?

Pete

ANSWER: The main reason why I have tried to open Socrates to the world is in hopes that after 2032, we may enter an initial Dark Age meaning that society will fragment as countries break apart and we will be given the opportunity to recreate government from scratch. My interpretation is not always correct. I have stated many times when I have tried to defeat my own computer, I am always wrong. No human is ever 100% infallible. We would not be human otherwise.

That said, nothing has changed. I understand that people think if you cannot forecast where gold will close tomorrow, how can you forecast 10 years in advance? The answer is contrary to what people understand. There is a lot of noise in the system. Whether gold closes $10 higher or $20 lower tomorrow does NOT change the long-term trend. I was a hedger. I needed to create a model for the major movies – not for day trading.

This year 2025 was a MAJOR target for a turning point. The next one in 2027. That is where the computer still picks up significantly rising volatility from there into 2032. I still see that the idea of peace in Europe will be negative for prices. But I do not see a 19-year decline as the computer projected in 1980, which was why I began to retire.

Buckle in—2026 marks a key phase in the Economic Confidence Model, when markets, governments, and institutions will be tested. By following the model rather than the headlines, we can navigate what’s coming together.

Sources in Ukraine state that Zelensky is trying to assassinate the top Russian generals in hopes of turning the army against Putin and to bring down Russia. I do not see any possible lasting peace arrangement and the refusal of Zelensky to let the Donbas separate is only supported by the hatred of Russians within the EU further guaranteeing that with the best intentions of Trump, this will never result in a long-standing peace accord. Europe will fall and unless the people purge the Neocons running NATO, their future will never be secure.