As I am watching the financial game shows today I am seeing headlines that “Wall Street Shakes Off Record Jobless Claims”. How much more misleading could a headline be? There are actually no markets anymore at all. If there were, the “markets” would have crashed long ago and this unemployment report could have been the final nail in the coffin. At that point we might actually have had a chance at a real recovery.
Instead, as the economic numbers continue to crash and burn the Fed is buying up virtually every asset in sight. They are sending dollars to other central banks so they can buy assets also, and are well on their way to owning our entire economy. By purchasing debt that is likely to go bad at a record pace after this episode, it is likely that in a reorganization the Fed (owners of the bonds to “help us out”) would become the new owners of a company with no debt to speak of. This should lead to massive gains- for those who are in the loop. Of course, Mnuchin- Treasury Secretary, wants to keep those getting bailed out a secret. My guess is so that guys like us can’t figure out what they are doing and profit along with them. This is a closed group- and as George Carlin once said “You aint in it!” Neither am I!
All of the trillions being conjured up out of nowhere are being used by the Fed, central banks and major banks not only to prop up government bonds globally but also to buy corporate bonds (supporting their price as well as giving them a debt position in the companies being bought), ETFs which is basically buying entire stock indexes in some cases and, as I have seen since this debacle first started, the paper games to keep the price of gold suppressed has resumed with renewed fervor.
I have seen daily beatdowns in gold at the usual times around 4AM and 8AM ET daily. There have been instances where there were two beatdowns in 20 minutes when gold was over $100 per ounce higher overnight.
Anyone with an ounce of historical knowledge can see where this “printing and buying” is going. In EVERY case in history going down this path leads to inflation, hyperinflation and the destruction of the purchasing power of the currency. It has NEVER ended any other way.
Those who do know history are LOADING UP on gold, silver and real assets. Right now if you would like to get your hands on gold, silver and other metals you will pay a FAR higher price than the fake paper price and you will wait a minimum of 12 weeks to get your gold or silver in most places.
These next few weeks may be your last chance to buy gold and silver at prices that many can still afford.
Which makes more sense in a situation where we know it can’t go on forever and some assets (stocks, bonds and Real Estate ) are being artificially propped up or assets (gold, silver, etc.) being artificially suppressed, to own going forward? In addition, gold has handily outperformed the “US Stock Markets” year to date anyway. When the manipulation is forced to stop, for whatever reason, it is likely that artificially propped up assets fall hard and suppressed assets surge.
While those who are still thinking that our economy or these “markets” are normal and are watching the stock market as their guide you really need to wake up. The US economy and world economy is closed for business. The economic numbers pointed to a crash like this for 12-18 months before we ever heard of this virus. I was writing about it MONTHS in advance.
The ONLY thing propping up these “markets” now is central banks conjuring “money” up out of nowhere in amounts that we can’t even fathom. This will likely lead to the destruction of most fiat currencies- and most certainly the US dollar. This could happen tomorrow or a few months from now.
When prices start to skyrocket you will know that time is near.
Just a few headlines that show just how absurd it is that the “markets” rising are right now:
“The “FALLEN ANGEL Avalanche Arrives: S&P Downgrading Companies At Fastest Pace On Record.”
“A Record 3.3 Million People Just Filed For Unemployment Benefits”
“Cheesecake Factory REFUSES To Pay Rent, Cites “Tremendous Financial Blow” (Thousands more to follow!) (My comment)
“Caterpillar Withdraws 2020 Guidance, Halts Some US Production”
“Trump Warns Suicides From The Coming Economic Depression Will Far Surpass Those From The Virus”
(Hmm, I haven’t heard anyone in the government mentioning DEPRESSION- take it seriously!)
WALL STREET ON PARADE
“Stimulus Bill Allows Federal Reserve To Conduct Meetings in Secret; Gives Fed $454 Billion Slush Fund For Wall Street Bailouts”
My question- why does an entity that can conjure up tens of trillions with a mouse click need a slush fund from taxpayers???
“Stimulus Bill: The Fed and Treasury’s Slush Fund Is Actually $4 TRILLION”
What a shocker!
“Fed Sets Off Panic with Plan To Eliminate Reserves at Wall Street Mega Banks”
“The Fed has Pumped $9 Trillion Into Wall Street Over The Past 6 Months, But Mnuchin Says “This Isn’t Like The Financial Crisis” (I agree- it is that on Steroids!)
Federal Reserve Announces Unprecedented $1.5 Trillion in Loans To Wall Street Today and Tomorrow (March 12, 2020). It goes on and on!
My opinion is that this is the biggest fraud ever perpetuated on humanity and it is you and I who will pay the price.
Even the pittance of $1200.00 checks is nothing. In 2 weeks the “stimulus for us” will be spent and we will be left holding another trillion in debt (at least) for virtually NOTHING.
Since we will be on the hook to pay it back I guess they are just advancing our perceived future earnings.
How benevolent of the masters!
Anyone who thinks the economy will be ok and there will be pent up demand when this is over is delusional. 40% of people in the USA couldn’t come up with $400.00 in an emergency without selling an asset or going deeper into debt. Even the $1200 checks will likely be used for sustenance- not luxuries.
Eventually we will hopefully get back to some level of normalcy but I expect the fallout from this to dwarf 9-11, 2008, and any other event you could care to remember.
Of course, there is UNLIMITED stimulus for the 1%. Think about that when prices are skyrocketing and you are seeing a very few profiting at everyone else’s expense.
For those of you who still think this is a Republican or Democrat thing I really hope you wake up soon. The only thing these clowns seem to agree upon is making the entire population debt slaves at an increasing pace. The sooner you realize that this is more like entertainment to keep your mind off of what they are really doing (destroying our once-great country from within) the sooner we may be able to take some action to stop it. I’m not holding my breath.
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