There are many examples of how DEI (Diversity, Equity and Inclusion) have led to our current state of being nothing more than a third world country. In the last few years many have put merit and competence aside and, instead have made decisions based upon sex, skin color, and beliefs the determining factor for hiring people. We can now easily see that competence is the most important ingredient to get whatever job we need done to be done correctly.

Whether you are flying in a plane, getting an operation, or simply looking for advice should you care about a person’s ethnicity or anything other than- can I trust this person to carry out what I am in need of?

One of the most stunning examples to me was the video of the lead “economist” for the current administration. In it he was asked to explain why the government “prints money” and pays interest on it. I would hope that someone in this position could answer that question but what followed was one of the most bizarre answers I have ever heard. It was obvious that he either didn’t know what he was talking about or didn’t...

I had a conversation with my friend Andy Schectman the other night and we were discussing one of his many appearances on YouTube. Andy has been an industry leader in the precious metals space for years, but he has stated to me that “YouTube changed my life”. Just the day we spoke he must have done 5 podcasts and the last one was at 8:30 PM for an Australian channel.

I let him know that I appreciated all of the great information that he was providing not only in the gold space but also bringing to light the BRICS currency, CBDCs and the changing global landscape where fiat currencies of all kinds along with sovereign bonds are being exchanged for real money- Gold.

As we were speaking, I brought up what I wrote a few weeks ago about if you had bought the DOW in 1971 with gold (real money) and measured it in gold you would have a return of MINUS 30% over that time.

Andy said that he read that but couldn’t figure out the numbers. Here they are.

In 1971 the DOW Jones Industrial Average was: 884.

...

I believe that the news that I saw yesterday on MarketWatch is the clearest sign that I have ever seen that we are nearing the cliff that has been approaching for quite some time. Before I share this news, I want to make a few points.

#1 Throughout history we have seen fiat currencies introduced and were generally backed by something tangible. The paper (prior to computer blips) were really just a receipt for something tangible like gold, silver or something else of VALUE. Since 1971 our “money” is not exchangeable for any hard asset unless we purchase those ASSETS on our own. Even the “money” that we THINK we own is a debt instrument (Federal Reserve NOTE) that is owed back to the central bank. We actually OWN far less than we think.

#2 Countries that have experienced hyperinflation like Weimar Germany, Venezuela, Zimbabwe, and many other banana republics, have had the same set of circumstances that we in the USA are facing right NOW. A once thriving economy was brought to its knees by political corruption, the stifling of competition by those “in charge”, the...

I got a couple of interesting questions this week that I believe will make a few points that we should pay attention to.

First of all, with regards to these questions the first thing that came to mind is the Warren Buffett quote “price is what you pay- value is what you get”. To me, this is one of the most profound statements that could ever be made-particularly in the situation we are facing right now.

As I have said a million times there is NO price discovery in virtually ANY asset. The entire financial edifice is nothing more than a manipulated mess. It is manipulated in a manner to benefit the few at the expense of MANY.

The first question was in regard to the price of gold and silver. After a large run-up in price, it was a legitimate question. “This pullback in gold- is it temporary or is it going to keep going?”

This is a question that, as soon as it was asked, I immediately thought how programmed we have been in the past few years to EXPECT disappointment every time the PRICE appears to be taking off to reflect the true VALUE of our...

As many people are aware, GOLD has been used as MONEY since biblical times. JP Morgan, as he was bailing out the entire United States Financial system, commented that “Gold is money- all else is credit”.

As such, gold has been used as a measuring stick to show how well or how poorly fiat currencies are holding their “value”.

Many economists will look at the price of gold-which has held its VALUE for thousands of years even though in our recent past the PRICE has been manipulated (mainly to keep it suppressed) 10s of thousands of times as reported in the case against JP Morgan, to determine the performance of paper (or mouse-clicked today) “money”.

Knowing this, those “in charge” have been using a few techniques to throw the public off and keep the illusion of a STRONG DOLLAR alive. They do this by, instead of using an ASSET like gold to measure worth, they compare the price of a dollar to other currencies. When you hear of DOLLAR STRENGTH it is only strong when measured against other fiat currencies which are falling in VALUE quicker than the dollar...

As everyone knows, I have been bullish on gold since about 2003. The main reason for my bullishness on gold and now on most other hard assets is that throughout history the same game plan has played out time after time.

History has shown that not one currency has held its value over time. Obviously, it is human nature that “printing” money leads to some boom times that most don’t want to see end. The “printers” then conjure up far too much cash- with NO VALUE attached to it- no labor, no energy, no food, etc. The temptation is too great to stop.

This leads to too much cash and too few real goods and HIGHER PRICES. The only difference I see this time is that this is a worldwide phenomenon. That fact makes it easier to hide the loss of purchasing power because the measure of a currency’s worth is against other fiat currencies which are also bleeding VALUE. This is another reason that those “in charge” want to see gold artificially repressed so that our dollar looks strong.

Another way to mask our reality is to make the numbers say whatever those “in charge” want...

I’m sure that everyone saw the video of the destruction of the Francis Scott Key Bridge at a major port in Baltimore. My first thought -before more information came out- was that this is just great. We send BILLIONS- and probably TRILLIONS to other countries as our infrastructure crumbles. Congress is SUPPOSED to vote on spending that benefits ALL of their constituents. Of course, this has not been true for a LONG time but now that we are insolvent (without conjuring cash up out of nowhere) and our lifestyles being threatened more and more every day, almost everyone is noticing that it appears our “leaders” have no desire to make OUR lives better, but only to answer to their masters that fund them.

As more information came out it was noticed that the ship lost power at least twice and lost the ability to navigate. Now, I have to wonder if this could have been a terrorist act. What could cause a ship to lose power? Honestly, it could just simply be a short-circuit or faulty wiring to an EMP-type of attack. The sad part is that we may never know the truth.

What we do...

HOPE. It appears to me that one of the greatest threats that we all have to our futures is the lack of HOPE that many are experiencing right now.

Older people are losing hope because their incomes- which in the recent past were more than sufficient to cover their basic needs and even sock away a few extra dollars- are now purchasing FAR less than they had been able to purchase in the past. People who were comfortable and content are now worried and eating through their excess savings because the cost of food, gas, utilities, TAXES, healthcare and most everything else, is skyrocketing in price.

Those retired and on a fixed income are the people most at risk during the current inflation that we are experiencing and are really in trouble if what I expect to be coming takes place. I am expecting FAR higher inflation at- by the latest – the beginning of 2025 (After the election). Of course, inflation continues to rise and there is no guarantee that inflation doesn’t get much worse sooner.

Those, like me, who could be contemplating retirement are thinking long and...

While I often write about the BRICS and many other threats to the US dollar dominance in the world, I just saw some information that I believe shows a clear threat that would destroy our currency even if there were no threats from anywhere else.

Just consider these few facts that were reported on Zerohedge:

· Income needed to afford a home has increased by 80% since 2020. That is astonishing. How many people have seen their incomes keep up with that? This is just for homes. Rents are also rising. Add in food, taxes, autos, insurance. You get the picture!

· While eyes are fixated on our $34.5 TRILLION debt and the over $1 TRILLION in interest price tag for 2024 another astonishing fact that the government released (but I haven’t seen it reported anywhere other than on Zerohedge) Social Security paid out $88.8 BILLION more in benefits in 2023 than taxes received. That is horrible BUT way worse is Medicare spent $446 BILLION more than the revenue received. This is ANOTHER $534 BILLION that had to be conjured up out of nowhere to cover that. What do you think may...

ANOTHER ALL-TIME HIGH! Let’s break out the champagne as Japan’s Nikkei 225 Index has hit a new all-time high last Thursday! I am sure those that look at the headlines must be thinking that Japan must be doing great! What many likely DON’T know is that this all-time high just eclipsed the previous all-time high from 1989.

In a mere 34 YEARS you got back to where you started from and now have a TINY profit to show for it. While this may be a big story- to me the larger story is how they had to “print” their way back to the record. In Japan their currency is the Yen. They have been conjuring up Yen out of nowhere for decades. As I am writing this at 5PM on Monday March 4th. any Japanese citizen who wants anOUNCE OF GOLD has to pay 318,187.00 Yen. That is Three Hundred Eighteen Thousand Yen.

Gold is the ultimate money and has been used extensively in the past to determine how fiat currencies were holding (or not holding) their value. We can see that pretty much all of the “gains” in their “markets” are a result- not of growth and industry but in the debasement of their...

According to Wikipedia, “a Ponzi Scheme is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors. Named after Italian businessman Charles Ponzi, this scheme leads investors by either falsely suggesting that profits are derived from legitimate business activities (whereas the business activities are non-existent), or by exaggerating the extent and profitability of the legitimate business activities, leveraging new investments to fabricate or supplement these profits. A Ponzi scheme can maintain the illusion of a sustainable business as long as investors continue to contribute new funds, and a s long as most of the investors do not demand full repayment or lose faith in the non-existent assets they are purported to own.”

All I can say is WOW. When I look at the US GDP figures I can’t help but make the connection between PONZI and our economy. While the mainstream media is trying to maintain the illusion that “all is well” there are some disturbing facts:

• First of all, our GDP reporting is manipulated, in...

In an earlier time- not that long ago- I used to look forward to watching the news and find out what was happening in the world. In the past 10 years or so, it has been becoming harder and harder to find the truth about what is actually happening in the world.

If you look at many media outlets- as I USED to do- you will notice that all the same stories are being told- and with the same verbiage- on just about all of the media outlets.

I believe that this is a result of “Project Mockingbird” which was instituted during the Obama administration where the government (whomever that may be- probably not the president or anyone else in congress) will determine which stories need to be covered.

It is also quite apparent to me that, as the internet started to be a competitor to the narratives that those “in charge” want out there, that massive efforts were put in place to make sure that information- true or not- would be suppressed. This is no longer a conspiracy theory but has been widely discussed.

As the masses are deceived with made up financial statistics,...

I have had MANY people express the opinion that nothing economically makes sense. Join the club!

We have an expanding war in the Middle East, wars throughout the world and central banks conjuring up massive amounts of “money” (DEBT) to fund it all.

This sounds like a classic case of currency debasement with a large side of supply disruptions added in.

It would only make sense to most that oil should be FAR higher than it is and with all of the geopolitical uncertainty gold and hard assets should also be FAR higher in price. I know many will say that since the economy is falling apart that is why oil is so cheap. While I agree that the economy is in freefall, the facts are that energy use is GROWING globally.

While this has many stumped, I believe that I have an explanation that is more than just plausible- it is VERY likely what is happening.

Think about it. This appears to me to be a warning to the BRICS, who are de-dollarizing and buying gold in record amounts, to stop it- or else! Has anyone noticed that not one member of our “coalition” is a...

No Historical Precedent

Earlier this week I wrote a note that used the phrase that I believe there is no historical precedent for what is coming our way in the near future. I see many “experts” out there giving opinions that we are more likely to see a 1929-style depression. I see others out there giving the opinion that we will have a 1970s style bout of inflation. Still others are calling for “soft landings” or collapse. Personally, I am sticking with “NO HISTORICAL PRECEDENT” for these reasons.

• 1929 Deflationary Depression: This lasted for nearly a decade. At the time we had a currency that couldn’t just be conjured up out of nowhere. There had to be a physical asset (GOLD) to back it up. This restrained the central bank from just conjuring up any amount of “money” like they do today. Because of this, while it is not impossible, it is highly unlikely that we will see this type of deflation. First of all, they COULD create deflation just by reducing the amount of “money” and debt being created. This, however, would likely lead to an immediate implosion of the...

A couple of weeks ago I wrote an article about the Chinese plunge protection team that staved off- for a short period of time- a “market” collapse caused by rapidly falling prices of Chinese stocks. In it I mentioned that while they managed to prop the prices up it produced NO VALUE. I think this deserves a MUCH closer look so we can see how truly delusional the prices of virtually all assets are.

First of all, I think it is imperative to note that these interventions are not new. They have been occurring for decades but have gone so far that even a casual observer can see what is happening. What this tells me is that when this situation unwinds it is going to be a MAJOR shock to almost all “market” participants. It is not just the last few years of manipulation that has to be accounted for- but decades of it.

In the Chinese example the market was trying to do its only job- to determine an accurate price for the value of a stock or stock index. The very act of a third party (central banks and their accomplices) conjuring up cash out of nowhere and buying the stocks...

I have been putting out chapters of a book that I wrote last year recently. I probably should have put this chapter out earlier than this because it lays out a lot of the reasons I, and many others, are concerned that the Central Bank Digital Currencies rollout may be coming very soon. Since this was written the FedNow program was rolled out in July 2023. This allows for instant liquidity for the banks that have signed on. Many believe that this is a precursor to a CBDC rollout.

In the meantime, it has come to light that there have been many projects that are WELL underway that have been testing the use of CBDCs and the ability for those CBDCs to interact with other CBDCs from other nations.

The IMF (International Monetary Fund) has issued UNICOIN which allows ALL CBDCs to interact with each other. To me, this appears to be a ONE WORLD CURRENCY disguised as a number of sovereign currencies.

Just a few of the CBDC pilot programs here in the USA are:

Project Hamilton 2020-2022 – a project between the Federal Reserve and MIT to explore the use of a RETAIL...

I don’t think that a discussion on what may perform well-or not- would be complete without a short discussion on cryptocurrencies. It will be short because I am not any type of an expert in this area. When I am not well-versed in a certain area I try to do research and listen to those who do have expertise in the area I am interested in.

I have seen the touting of Bitcoin, Etherium and many other cryptocurrencies and have done some research that has led me to many questions. It started a few years ago when I thought Bitcoin was a great idea for privacy and financial freedom. The story was that supply was limited- unlike the central bank currencies and that transactions were “private”. You can imagine how disillusioned I was when I read a Financial Times article- years ago about numerous people sitting in jail and their bond to get out was their password for their Bitcoin! I had to ask myself- if this is so “private” how in the world would anyone know that they were trading illegally or doing something illegal? In another story a young man described how he saw his crypto...

The last chapter discussed an inflationary outcome. In this chapter Let’s examine what may happen if there was a deflationary outcome.

So far, I have only written about an inflationary outcome. I think it is important to look at what would happen in a DEFLATIONARY outcome and what assets would be best to hold in this situation. This topic cannot be spoken about without taking into account the massive amount of debt that is out there and the damage that would be done if that debt pile collapses. As I have written previously, I am expecting the debt to collapse upon itself at some time in the near future. It is exceedingly obvious that we have been bankrupt (unable to pay our bills without conjuring up cash from nowhere) since at least 2008.

The Federal government has had its bills paid with taxes and a LOT of central bank “printing” since then. This is not just a USA thing, but it is global- at least in developed markets which are actually acting more like emerging economies than the emerging economies themselves. In addition, many cities, states and pensions have...

Since, in my opinion, the evidence seems to suggest that an inflationary depression is more likely than a deflationary depression in our current circumstances I am going to go through some assets that I think would help us navigate through rapidly rising prices. I should say that I believe that this is more likely because it buys those “in charge” time. In a deflationary collapse it is likely that most assets would implode- though likely not all- and those “in charge” would likely get the blame. If they keep “printing” they have the cover of pandemics, supply chain issues, wars, etc. to lay the blame elsewhere.

While many are quick to believe what they see on the financial game shows and the propaganda stations when they are spewing out “fact” after “fact” that gets debunked a while later I have noticed that by doing your own research you can get a better handle on what is actually taking place. It amazes me that so many people believe what they hear but don’t believe their own eyes. The picture is FAR more dire than is being painted by our “leaders”.

I think the...

I remember an article that I wrote around 2009 when I described a pension plan (Chicago Transit Authority) that had a large funding deficit. To close the budget gap the fund borrowed assets at 6% and the idea was to earn 8% and keep their funding current with the proceeds. This took place in 2007.

In 2008 the fund lost nearly 50% leaving the debt intact but greatly compromising the fund’s solvency.

The reason I am remembering this right now is that it was just reported that a similar action is being taken by CALPERS (the country’s largest pension plan). It could be that the timing may be in-line also.

They have reported that they are looking to take out a $30 BILLION loan. This loan is not going to be used to purchase assets but will be used to pay benefits. The reasoning is that their commercial real estate portfolio is down, and they don’t want to sell for fear that it would create a fire sale of assets. A fire sale is when things are sold for a fraction of what they are thought to be worth. Their goal is to be able to pay claims and not be forced to sell...

While my opinion is that we are going down the path to becoming the next Venezuela, Argentina, Zimbabwe or Weimar Germany, there is no guarantee that this is the way it will play out here. I believe that this is most likely but when you have a third party calling the shots (Fed and other central banks) it is really in their hands as to how this may play out. If I were 100% sure that those “in charge” were absolutely going down this path I would likely go out, get every loan I could find and buy hard assets of all kinds. There are two problems with this scenario. Had I done that 10 years ago- expecting what we are seeing now back then I would have the problem of carrying that debt. If the economy were to collapse and I couldn’t carry the debt I would have been wiped out. It could be that I got the call right, but my timing was way off.

Problem #2 Let’s also keep in mind that the central banks could just arbitrarily decide that they want to crush the system. You may wonder WHY but it could be to usher in a new digital currency or some other reason. The reason isn’t important....

In my next installment I want to give my reasons for writing this and a brief overview of where things stand now. As I re-read what I wrote last year all of the major points remain the same- only some numbers may have changed. Hopefully, this installment will give you a better insight as to some of the inner workings that are shaping the landscape we are seeing now.

I am hoping that this book will help anyone who wants to invest wisely to know what they are up against and to enlighten them to what actions they may be able to take to protect themselves from the misinformation and manipulations that are taking place daily in the “markets”. I use the “ “ in markets because we have not had real markets for at least decades. A real market would be where supply and demand between buyers and sellers is determined in each and every trade. While many may argue that is what happens with each trade today, they would be greatly mistaken. The Fed, by buying bonds and stocks have taken price discovery out of the equation. This is why nothing seems to make any sense anymore.

As I...

As I mentioned in my New Year note I am going to be putting out a book that I wrote last year in this format. If you are so inclined, you can print up each note and after about 7 or 8 notes you will have the existing content of the book. As I also said, I wanted to make this open-ended so that as new information becomes available it can be added.

Things are changing very rapidly and it appears that the endgame is rapidly approaching. I believe history will be the most kind to those who stare reality in the face and prepare to take it on.

This book is a look at the history of the US dollar, where we stand now and the plans of those “in charge” to issue in a new system which could, an apparently does, lead to “money” that can not only track everything you buy but can also be programmed to work here and not there, allow you to buy “approved” goods and not others and can be programmed to EXPIRE.

I will start with a history of the US Dollar which many may find a bit dry, but I believe to understand where we may be going, we need to first understand where we have...

As we approach 2024, I wanted to take a moment out to thank everyone who reads my articles week after week. Many may say that I am negative- personally I would just say I am honest and calling it as I see it.

I don’t believe that I have ever seen a more precarious setup for a year than I see right now for 2024. I am expecting the wars to widen, our deficits to explode higher and our currency to lose a lot of its remaining value. Actually, VALUE is a funny word. Our currency is a unit of debt and therefore has no VALUE but perceived value. As the rest of the world moves away from US dollar dominance the impact on our economy cannot be overstated.

Things that are rising:

• Poverty
• Homelessness
• Corporate, Municipal, Personal, State and Federal government debt
• Layoffs, store and bank closings
• Stress on family budgets due to inflation
• Use of Food Distribution Centers as many are not keeping up with rising prices.
• Tensions around the world.
• Crime, violence, and drug use

Things that are...

As we near the end of another year we can look back on the wins and losses we have had in our portfolios. While the stock “markets” have been a roller coaster it appears we will end the year with a strong rally. Of course, this was produced by the central banks “printing and buying”. In my opinion, this is as artificial as it can get where trillions are conjured up out of nowhere, they are used to buy assets, and produce NOTHING of VALUE. Basically, they buy making prices rise and add NOTHING that adds VALUE. This means that anyone buying now could be MASSIVELY overpaying.

On the flip side, as I write this on December 22 I notice that gold (that ancient relic that does nothing but central banks and major banks are hoarding) is up over 17% this year. Remember that gold, silver and other ASSETS are just hunks of metal. It is not that gold goes UP it is that the dollar is losing VALUE.

Remember last week’s article where I surprised myself when I looked up the DOW and GOLD since 1971. If the DOW was measured in GOLD it would be DOWN 30% since that time. To me, this means...