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- Post #8,081
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- Apr 4, 2020 9:52am Apr 4, 2020 9:52am
- | Commercial Member | Joined Dec 2014 | 11,485 Posts
- Post #8,082
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- Apr 4, 2020 9:53am Apr 4, 2020 9:53am
- | Commercial Member | Joined Dec 2014 | 11,485 Posts
Here Comes The Next Crisis: Up To 30% Of All Mortgages Will Default In "Biggest Wave Of Delinquencies In History"
https://zh-prod-1cc738ca-7d3b-4a72-b...?itok=LY4e264-
by Tyler Durden
Fri, 04/03/2020 - 05:22
Unlike in the 2008 financial crisis when a glut of subprime debt, layered with trillions in CDOs and CDO squareds, sent home prices to stratospheric levels before everything crashed scarring an entire generation of homebuyers, this time the housing sector is facing a far more conventional problem: the sudden and unpredictable inability of mortgage borrowers to make their scheduled monthly payments as the entire economy grinds to a halt due to the coronavirus pandemic.
And unfortunately this time the crisis will be far worse, because as Bloomberg reports mortgage lenders are preparing for the biggest wave of delinquencies in history. And unless the plan to buy time works - and as we reported earlier there is a distinct possibility the Treasury's plan to provide much needed liquidity to America's small businesses may be on the verge of collapse - an even worse crisis may be coming: mass foreclosures and mortgage market mayhem.
Borrowers who lost income from the coronavirus, which is already a skyrocketing number as the 10 million new jobless claims in the past two weeks attests, can ask to skip payments for as many as 180 days at a time on federally backed mortgages, and avoid penalties and a hit to their credit scores. But as Bloomberg notes, it’s not a payment holiday and eventually homeowners they’ll have to make it all up.
According to estimates by Moody's Analytics chief economist Mark Zandi, as many as 30% of Americans with home loans – about 15 million households – could stop paying if the U.S. economy remains closed through the summer or bey
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"This is an unprecedented event," said Susan Wachter, professor of real estate and finance at the Wharton School of the University of Pennsylvania. She also points out another way the current crisis is different from the 2008 GFC: "The great financial crisis happened over a number of years. This is happening in a matter of months - a matter of weeks."
Meanwhile lenders - like everyone else - are operating in the dark, with no way of predicting the scope or duration of the pandemic or the damage it will wreak on the economy. If the virus recedes soon and the economy roars back to life, then the plan will help borrowers get back on track quickly. But the greater the fallout, the harder and more expensive it will be to stave off repossessions.
"Nobody has any sense of how long this might last," said Andrew Jakabovics, a former Department of Housing and Urban Development senior policy adviser who is now at Enterprise Community Partners, a nonprofit affordable housing group. "The forbearance program allows everybody to press pause on their current circumstances and take a deep breath. Then we can look at what the world might look like in six or 12 months from now and plan for that."
But if the economic turmoil is long-lasting, the government will have to find a way to prevent foreclosures - which could mean forgiving some debt, said Tendayi Kapfidze, Chief Economist at LendingTree. And with the government now stuck in "bailout everyone mode", the risk of allowing foreclosures to spiral is just too great because it would damage financial markets and that could reinfect the economy, he explained.
“I expect policy makers to do whatever they can to hold the line on a financial crisis,” Kapfidze said hinting at just a trace of a conflict of interest as his firm may well be next to fold if its borrowers declare a payment moratorium. "And that means preventing foreclosures by any means necessary."
Take for example Laura Habberstad, a bar manager in Washington, D.C., who got a reprieve from her lender but needs time to catch up. The coronavirus snatched away her income, as it has for millions, and replaced it with uncertainty. The restaurant and beer garden where she works was forced to temporarily shut down.
Laura has no idea when she’ll get her job back, nor does she have any idea how to look for a new job. After all, how do you search for another hospitality job during a global pandemic? Now she’s living in Oregon with her mother, whose travel agency was also forced to close.
"I don’t know how I’m going to pay my mortgage and my condo dues and still be able to feed myself," Habberstad said. “I just hope that, once things open up again, we who are impacted by Covid-19 are given consideration and sufficient time to bring all payments current without penalty and in a manner that does not bring us even more financial hardship.”
Borrowers must contact their lenders to get help and avoid black marks on their credit reports, according to provisions in the stimulus package passed by Congress last week. Bank of America said it has so far allowed 50,000 mortgage customers to defer payments. That includes loans that are not federally backed, so they aren’t covered by the government’s program.
Meanwhile, Treasury Secretary Steven Mnuchin has convened a task force to deal with the potential liquidity shortfall faced by mortgage servicers, which collect payments and are required to compensate bondholders even if homeowners miss them. The group was supposed to make recommendations by March 30.
“If a large percentage of the servicing book - let’s say 20-30% of clients you take care of - don’t have the ability to make a payment for six months, most servicers will not have the capital needed to cover those payments,” QuickenChief Executive Officer Jay Farner said in an interview. But not Quicken, of course.
Quicken, which serves 1.8 million borrowers, and in 2018 surpassed Wells Fargo as the #1 mortgage lender in the US, has a strong enough balance sheet to serve its borrowers while paying holders of bonds backed by its mortgages, Farner said, although something tells us that in 6-8 weeks his view will change dramatically.
Until then, the company plans to almost triple its call center workers by May to field the expected onslaught of borrowers seeking support, he said.
Ironically, as Bloomberg concludes, "if the pandemic has taught us anything, it’s how quickly everything can change. Just weeks ago, mortgage lenders were predicting the biggest spring in years for home sales and mortgage refinances."
Habberstad, the bar manager, was staffing up for big crowds at the beer garden, which is across from National Park, home of the World Series champions. Then came coronavirus. Now, she’s dependent on her unemployment check of $440 a week.
“Everybody wants to work but we’re being asked not to for the sake of the greater good,” she said.
- Post #8,083
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- Apr 4, 2020 5:50pm Apr 4, 2020 5:50pm
- | Commercial Member | Joined Dec 2014 | 11,485 Posts
April 4, 2020
Coronavirus Pandemic War Called “Humanity’s Darkest Hour” And Warned “Could Set The World On Fire”
By: Sorcha Faal, and as reported to her Western Subscribers
A sobering new Ministry of Foreign Affairs (MoFA) report circulating in the Kremlin today noting that only global cooperation can help minimize the coronavirus death toll, while at the same time slamming some nations’ unwillingness to lift sanctions amid the pandemic as outrageous, says this reality is known to President Donald Trump, who this week sidestepped his own sanctions against Russia to save American lives from the COVID-19 pandemic—an unprecedented action by President Trump, however, whose most proper context about must be viewed in the light of his seizing 200,000 medical masks bound for Germany in what they call “an act of modern piracy”, as well as his seizing another 60-million of them bound for France—seizures ordered by President Trump while it’s been shockingly discovered Communist China deliberately flooded Europe with defective COVID-19 fighting medical equipment—is the same Communist China that’s now restarting mass quarantines as it’s failed to stop the coronavirus as it said it had, whose true death toll from this disease is now being estimated at over 40,000, and that knows the soon coming wrath headed their way after it was discovered radical anti-Trump globalist-socialist multi-billionaire George Soros is heavily invested in the biotech facilities from where the coronavirus first emerged in Wuhan-China—all of which are “Shadow War” actions playing out under the cover of this coronavirus pandemic as a fundamental move toward a new, bipolar global competition emerges into the open—the grave consequences of which now sees globalist-socialist leader Kristalina Georgieva, the managing director of the International Monetary Fund (IMF), fearfully saying “This is a crisis like no other…in my lifetime this is humanity’s darkest hour”—and even more ominously, now sees one of the central and oldest New World Order globalist-socialist leaders Henry Kissinger not only warning that this coronavirus pandemic war has forever altered our world, and it will never be the same again—he says that while the United States must protect its citizens from disease as it “starts the urgent work of planning for a new epoch in its transition to the post-coronavirus order”, President Trump must also “safeguard the principles of the liberal world order”—and if he fails to “safeguard” these godless globalist-socialists, Kissinger warns President Trump that this “failure could set the world on fire”. [Note: Some words and/or phrases appearing in quotes in this report are English language approximations of Russian words/phrases having no exact counterpart.]
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According to this report, with these godless globalist-socialist forces now openly threatening “to set the world on fire” unless President Trump bows down and surrenders to them, no evidence exists that threats like this even faze him—best evidenced by a President Trump who, in the past 24-hours alone, ordered his military commanders sack a top US Navy commander who sided with the socialists and tried to undermine him, as well as his firing the Deep State intelligence watchdog who sparked the sham impeachment process—all occurring at the same time President Trump has taken the law into his own hands by ordering his border patrol to instantly throw out of the United States anyone caught illegally crossing their borders—and comes against a ruthless socialist enemy who are “giving no quarter” to either President Trump, or anyone who sides with him in this war—best exampled by after President Trump having brought into the White House for a secret meeting last week Caroline Kennedy, the last surviving child of Deep State publically executed President John F. Kennedy, today two of her most beloved family members were made to disappear and are now presumed dead.
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Unlike the Russian peoples, who for over 70-years lived under the despotic and tyrannical rule of godless socialism, this report continues, the vast majority of the American people still fail to realize that their globalist-socialist Democrat Party leaders are demonic monsters who will stop at nothing to gain power while they destroy everything and everybody in their way—none of whom, though, can complete their monstrous tasks under the glaring light of truth—which is why these socialist monsters have rushed to the FCC to demand that President Trump’s coronavirus press conferences be immediately banned—as well as them yesterday having filed a US federal lawsuit to throw Fox News off the air for their coronavirus coverage.
This socialist plot to throw Fox News off the air, this report details, is beyond all comprehension—most specifically because Fox News was the first mainstream media outlet in America to begin truthfully reporting about coronavirus back in mid-January—as opposed to the leftist mainstream media, who spent all of January and February saying the coronavirus was nothing to worry about, and calling everyone who said anything different a racist—with the leftist mainstream media specifically targeting President Trump because he told the American people about a drug found to be effective against the coronavirus—best exampled in the leftist Washington Post headline “Trump Is Giving People False Hope Of Coronavirus Cures. It’s All Snake Oil”—a headline cited by radical socialist Democrat Party State of Nevada Governor Steve Sisolak when he banned all of his citizens from taking the drug President Trump talked about—and is the same Governor Sisolak who’s now been discovered to have hoarded this drug for himself so the convicted criminal prisoners in his State can be protected from the coronavirus—and is drug used to treat malaria called Hydroxychloroquine that’s rated as “the most effective therapy” for coronavirus by thousands of doctors from all around the world.
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As to the real reason these godless globalist-socialist forces want to keep the American people from hearing both President Trump and Fox News, this report explains, is because they know the power in the old adages “A Lie Can Travel Halfway Around The World While The Truth Is Putting On Its Shoes” and “If You Tell A Lie Big Enough And Keep Repeating It, People Will Eventually Come To Believe It”—both of which the American people are peculiarly susceptible to as evidenced, for example, by their decades of propaganda brainwashing by their nation’s pet food industry into comically believing that dogs can’t eat bones—which every Russia citizen knows is not true because dogs are 99.9% wolf,who live their entire lives eating the bones their entire body is built to crush, consume and digest, but whom, also, didn’t have a pet food industry to corrupt their minds—a distinction with a difference as all normal human beings gravitate towards truth and facts and away from propaganda when dealing with life necessities, such as what to feed a pet dog in a socialist country that doesn’t make dog food—a fact most strongly evidenced in normal human beings who are fearing for their very lives—and explains the socialist-globalist rage at Fox News—because with each passing day of this coronavirus pandemic, Fox News viewer ratings are surging into heights never seen in American cable news history, while at the exact same time, leftist cable news networks like CNN and MSNBC are watching in horror as their viewer numbers plunge into the abyss—thus meaning that the socialist-globalist propaganda lie machine has been disrupted, and truth has finally put its shoes on to come running to the rescue of these Americans.
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April 4, 2020 EU and US all rights reserved. Permission to use this report in its entirety is granted under the condition it is linked to its original source at WhatDoesItMean.Com. Freebase content licensed under CC-BY and GFDL.
[Note: Many governments and their intelligence services actively campaign against the information found in these reports so as not to alarm their citizens about the many catastrophic Earth changes and events to come, a stance that the Sisters of Sorcha Faal strongly disagree with in believing that it is every human being’s right to know the truth. Due to our mission’s conflicts with that of those governments, the responses of their ‘agents’ has been a longstanding misinformation/misdirection campaign designed to discredit us, and others like us, that is exampled in numerous places, including HERE.]
[Note: The WhatDoesItMean.com website was created for and donated to the Sisters of Sorcha Faal in 2003 by a small group of American computer experts led by the late global technology guru Wayne Green(1922-2013) to counter the propaganda being used by the West to promote their illegal 2003 invasion of Iraq.]
[Note: The word Kremlin (fortress inside a city) as used in this report refers to Russian citadels, including in Moscow, having cathedrals wherein female Schema monks (Orthodox nuns) reside, many of whom are devoted to the mission of the Sisters of Sorcha Faal.]
America Endures First In World History “Let Stupid People Die” Pandemic
Nothing Will Ever Be The Same After New Age Of Heroes Arises With Coronavirus
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- Post #8,084
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- Apr 4, 2020 6:13pm Apr 4, 2020 6:13pm
- | Commercial Member | Joined Dec 2014 | 11,485 Posts
- Post #8,085
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- Apr 4, 2020 6:19pm Apr 4, 2020 6:19pm
- | Commercial Member | Joined Dec 2014 | 11,485 Posts
- Post #8,086
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- Apr 5, 2020 8:00am Apr 5, 2020 8:00am
- | Commercial Member | Joined Dec 2014 | 11,485 Posts
The noble lie about masks and coronavirus should never have been told
https://images.theweek.com/sites/def...resize=100x100
Matthew Walther
https://images.theweek.com/sites/def...size=2400x2400
Illustrated | iStock
April 4, 2020
Those of you of a certain age will doubtless remember a time when it was universally acknowledged that wearing masks would not protect you or anyone else from the coronavirus pandemic. By "certain age" here I mean all living Americans born on or before April 1, 2020, which according to my notes is when it became possible to express a contrary position in polite society.
This was always nonsense. The White House is now suggesting that all of us should wear masks whenever we leave our houses. We are even stealing vast stockpiles of them from the Germans, who have been wearing them in public for around a month on the rather more numerous occasions when their leaders exempt them from house arrest. People who can't get proper masks (apparently the kind people wear when they spray for bugs) are being encouraged to make their own. If nothing else, this has given tedious DIY addicts something else to be self satisfied about.
No one cares how quaint and interesting you think the piece of cloth meant to protect you from a disease is, okay?
Whether the journalists and other apparent experts who enthusiastically spread this apparent lie about masks knew it was false is very much an open question. Some of us found it odd that the same people were also saying that masks should be reserved for use by medical professionals. If masks don't do anything, why do doctors and nurses need them? Are they an ornamental part of a dress uniform? The mind reels.
Regardless of the personal honesty of those involved in it, this propaganda campaign should never have been conducted in the first place. It is one thing to debate what should be empirical questions, such as the efficacy of wearing protective equipment in an attempt to forestall the spread of viral infections; it is another for people to bang on about whatever the latest current corona wisdom is with the same tedious certainty that not long ago made us a nation of Logan Act scholars and experts on the non-existent criminal law implications of the emoluments clause. These manias do roughly as much for public health as those kids — there was at least one in every first-grade class — who relentlessly ssshh everyone else in line do to improve schoolyard behavior.
The 180-degree shift in acceptable public opinion about masks is in line with how the rest of this crisis has unfolded. Masks won't help. Everyone needs a mask. It's not worth shutting down travel to and from China over the virus, and Trump is just being a xenophobe here. Trump should have done more to prevent the virus from coming to these shores. It's less dangerous than the flu; calling it less dangerous than the flu is a right-wing meme, perhaps even (one shudders) "misinformation." Human beings can't even transmit the virus directly to one another; it originated with animals in Chinese open-air "wet" food markets.
Talking about the wet markets is racist, except when Dr. Fauci does it.
Can we please stop talking this way? As I write this our paper of record is all but publicly rooting for the failure of anti-malarial drugs that appear to have been successful in treating some coronavirus patients. It is not against "science," whatever that may be, for the president or anyone else to observe that certain medicines or treatments have worked. It is not for science, either. It's just a fact that may or may not have limited application depending upon what happens over the next few months. A bit more epistemic humility would be welcome all around.
MORE PERSPECTIVES
https://images.theweek.com/sites/def...resize=200x200
DAVID FARIS
The political lessons of the 1918 pandemic
https://images.theweek.com/sites/def...resize=200x200
RYAN COOPER
Donald Trump is playing with revolutionary fire
As would more of I will bluntly call adult behavior. We must put an end to the idea that the best way to get through this crisis is to say things we know are not true in the hope of getting people to behave a certain way. This means not saying masks are useless when what you really mean is, "Masks are in short supply, please consider before you start hoarding them whether you really need them at present and if so how many." Ditto the painfully relentless attempts to give young people the impression that they are horribly likely to die from the new virus. Even in Italy, the country with the worst measured fatality rate so far, around 86 percent of all the deceased have been aged 70 or older, and 50 percent were at least 80. We do not need to zero in on statistical anomalies or otherwise engage in scaremongering. It should be enough to say, "Even though you are very unlikely to die from coronavirus, remember that you could contract the disease and spread it to more vulnerable people without even experiencing symptoms, so please don't revel with 5000 strangers at the beach and then run home to give Grandma a hug."
This is how grown-ups talk to one another.
- Post #8,087
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- Apr 5, 2020 8:13am Apr 5, 2020 8:13am
- | Commercial Member | Joined Dec 2014 | 11,485 Posts
Unprecedented Power Grab
Guest Post by Martin Armstrong
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We are living not just in interesting times, we are living in UNPRECEDENTED TIMES, which has raised the stakes profoundly toward civil war. You may have been laid off, struggling and hoping your employer will not fold, or you may be working from home and wondering if your employee will not cut cuts and leave you there eliminating offices. Then there is the home confinement which depends on whether or not you live in a Democratic state where they want 100% lockdown, fines, and/or imprisonment if you walk outside while telling neighbors to report on you as if this were East Germany before the fall of the Berlin Wall.
Then there is the confinement with the family which many find stressful while schools are closed along with day-care-centers and caring for children 100%. The Republican States seems to be following generally just the social-distancing and allowing stores and restaurants to be open following guidelines of limiting the number of customers. Others find their families split forced to facetime, skype, or zoom as elderly relatives are trapped away from loved ones. Then there are those who know someone with COVID-19 or have found their parents go into a hospital for one thing expecting them to die and then they suddenly change the cause of death of COVID-19 out of the clear blue sky causing many to question what is really going on.
While we are all in prison since home confinement if a punishment inflicted by courts, we face the most amazing power grabs in all recorded history thanks to socialism which authorizes the government to pretend to “care” for our well being as long it is profitable. This is one of the greatest rearrangements of power in modern history unfolding before our eyes—and governments are counting of scaring-the-hell out of people to ensure we’re too overwhelmed to do anything about it.
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Since January, elites sold their entire stock and bond portfolios and went to cash. I know 100% that they were even tipped off to do so without necessarily outlining the objectives just stating there was this virus. Over the past weeks, governments have used this virus to expand their powers in unprecedented ways all in an amazing effort to save us from certain doom. In Thailand, the government seized the power to censor the media. In South Korea, we find officials began using people’s cellphone, credit-card, and GPS records to track patients with Covid-19 in real-time, all to ensure they would know everyone’s contacts.
Taiwan is tracking people under home quarantine in real-time. Other governments are using cellphone location data to monitor people’s movements. Taiwan has total, some 55,000 people are being kept at home through a “digital fence.” Meanwhile, Christine Legarde is pushing hard for the cancellation of the paper currency and move to digital. As head of the IMF, she personally threatened all the tax havens to given everyone up and even threatened the Vatican to remove it from the world monetary system unless they reveal all transfers.
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Even in the land of the free and the home of the brave, the US Justice Department asked lawmakers for the power to request that defendants be detained indefinitely without trial during emergencies. Anthony Fauci was asked by host Anderson Cooper on CNN in an effort to undermine Trump: “Knowing the science, does it make sense to you that some states are still not issuing stay-at-home orders? I mean, whether there should be a federally mandated directive for that or not, I guess that’s more of a political question, but just scientifically, doesn’t everybody have to be on the same page with this stuff?”
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In 2020, Fauci deliberately misleads Congress showing his dishonesty with the statistics. He compares the Coronavirus to the Flu claiming it is 10x more lethal because the death rate with the flue is only 0.1%. What fails to point out that this number is based on 38 to 54 million people with the flu. He was comparing those hospitalized with Coronavirus at 3% down to 2% whereas those hospitalized with the flu has a mortality rate of 6%. He gas deliberately played with the numbers to create this crisis which was predetermined would be used to enforce political change.
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What is going on is VERY Dangerous. Fauci is bought and paid for and should be investigated. Bill Gates donated $100 million to Fauci’s NIH and $13.5 million to CDC. It was Bill Gates on February 28th who was already calling this a major pandemic ahead of everyone. I bet you will find he also sold all his stocks and bonds in league with those in Europe. The number of deaths is less than 10% of those caused annually by the flu. This does not add up to warrant the destruction of the economy which he is advocating.
Fauci even opposed using the Malaria drug which doctors in the field have found to prevent deaths. He wanted a year of study before trying it while always supporting Bill Gates with his vaccine. Of course, Bill Gates said that his vaccine would first go to those only in the medical field, which probably included himself. It appears he intentionally wanted more people to die to help this cause. Gates was behind climate change and now a major donator and proponent of using a disease to achieve the same goals he advocated for Climate Change.
In 2017, Fauci was already saying that the Trump administration would face a “surprise” pandemic. This supported the entire Climate Change which Gates was also behind with his dire C02 forecasts that we hade to reduced the population. In a fake petition of 11,000 purported scientists who signed this claim that girls must stop having children was exposed to have among its signers, Mickey Mouse of the Institute for the Blind.
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This was the same recommendation of Gates – reduce the population. Even Bill Gates’ push to put microchips in us all is really puzzling as to has all his money simply gone to his head? This whole ID2020 movement is just beyond belief. It has been Bill Gates calling for 10 more weeks of lockdown!
Bill Gates resigned both from Microsoft and Warren Buffet’s boards. It is curious that he has helped to create probably an $80 billion loss for Buffett for his solutions will destroy both as the world economy implodes.
Microsoft was worth $1.435 trillion on February 10th, and $1.115 trillion on March 23rd. Bill Gates helped to cause a $320 billion loss there.
You can imaging with a $400 billion loss on the two companies where he was a board member, he would not be very popular. We will have to wait for his next SEC filing to see what he sold since his last filing as of February 14, 2020, with the U.S. Securities and Exchange Commission.
If he sold all or a major part of his 50 million shares in Berkshire after February 14th, 2020, he should be investigated.
Then the Democrats have in one voice blamed every death of Trump and have used this to divide and conquer the people.
Impeachment lost, Russiagate lost, they needed something that was more direct and a threat of IMMEDIATE death so they have manufactured COVID-19 into the next Black Death. They then have been using this to introduce a digital currency to eliminate cash and have introduced legislation to take away guns (H.R.5717 – Gun Violence Prevention and Community Safety Act of 2020). They want to make sure people cannot fight back against subjugation which is coming to every community near you. The onslaught against Trump is so intense, they are trying to stuff every bill possible with anti-democratic legislation.
Using this virus as the excuse for emergency powers that are outright tyrannical is just astonishing. They claim that a state of emergency is justified if the threat is public, universal, and existential, and therefore they justify extraordinary powers to save the people by removing all liberty. They have intentionally destroyed the economy knowing full well that a huge proportion of small businesses will be forever lost.
They seek to ensure that the people will be dependent upon the government and accept subjugation as was the case with the Communist Revolutions.
There is absolutely NO HISTORICAL evidence that once powers are seized in peacetime they are ever relinquished without revolution. States have NEVER given back powers of this magnitude for all we need to look at is the 9/11 terrorist attacks. TSA and money-laundering regulations reduced the $10,000 to $3,000 if you try to wire money to an individual. You can no longer hop on a plane with more than $10,000 in cash even on domestic flights. Whatever personal liberties we believed we once had are surrendered during an emergency and what has been done here with lockdown is now precedent for the future.
There is absolutely no evidence that this virus poses such a monumental threat that it warrants the shutting down of the economy and the surrender of all our liberties. The annual flu kills 10x more than this virus, but the media is so on board with this plot against the people the TRUTH is also a casualty of this virus.
Why do journalists hate us so much? They were supposed to defend us but they are just playing for a seat at the table throwing scraps to the people and enjoying their power. They fail to even understand the world they are advocating for their own children.
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It is becoming painfully obvious that we are facing an unprecedented battle for our liberty. Google is aiding the Democrats allowing them to use the virus to scare the hell out of the people in this desperate attempt to lead the uninformed to blame Trump for everything so they can seize the country and raise taxes back to 70-90%. People have asked WHY Socrates has forecast that China will become the Financial Capital of the World? If you cannot see what is happening, just go back to NETFLIX and enjoy the confinement.
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Trump has been trying desperately to fight back, but the Fake News is so intent upon overthrowing our way of life it is not a battle easily won. As a matter of NATIONAL SECURITY, he should immediately restore the FCC rule of the Fairness Doctrine and extend it to the print media and to social media such as Facebook, Apple, and of course Google. If he does NOT do this, all our freedoms are in danger of extinction.
AT&T is the ultimate owner of CNN. Everyone should write to the chairman of AT&T Randall Lynn Stephenson to defend your liberty and one should question was he one of the elites who sold everything in January as many did after that January 2020 meeting in Switzerland?
This has been an unprecedented power grab and our future will never be the same. Crime will rise SUBSTANTIALLY and the threat to life and property will be far worse than any virus. They know this, and then Phase II will be emergency power to restore the order that they destroyed.
Everyone should write to their respective Republican Representative and demand an investigation into this sordid group pf characters. This is our future and the Democrats are simply on board to overthrow Trump and may NOT even be aware of the larger agenda. Unfortunately, they will never investigate if it is against their personal interests in the 2020 election.
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- Apr 5, 2020 8:51am Apr 5, 2020 8:51am
- | Commercial Member | Joined Dec 2014 | 11,485 Posts
- Post #8,089
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- Apr 5, 2020 1:45pm Apr 5, 2020 1:45pm
- | Commercial Member | Joined Dec 2014 | 11,485 Posts
- Post #8,090
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- Edited 4:00pm Apr 5, 2020 2:40pm | Edited 4:00pm
- | Commercial Member | Joined Dec 2014 | 11,485 Posts
Investment advisor and former Assistant Secretary of Housing Catherine Austin Fitts says, “We’ve been printing massive amounts of dollars, and if you look at all the things we did to stop high speed debasement and unprecedented inflation, we’ve kind of run out of tricks. . . . Inflation is really sneaking up. My question: Is basically shutting down the small businesses and the small farm economy at high speed the way they have done, is that protecting us from going up a frightening inflation?
Are we at Weimar Republic kind of inflation rates? I have been telling my subscribers to plant, plant and plant because the price of food is going to go through the roof. Another one of my questions: What’s pressing for war? Is the debt spiral up and the inflation spiral up, is that more than they can handle?”
Fitts also says the covert war going on now is about the U.S. dollar and countries who want to stop using it for trade. If the dollar is used less, it will be worth less and maybe much less. Fitts says, “We have tried to keep all the oil sales in the world going through the dollar. Of course, that’s put everybody back into our jurisdiction.
The world doesn’t want to do that anymore. They want to be free to trade. You are seeing more and more central banks around the world doing swap lines and direct relationships between central bank to central bank to try to do what is called de-dollarization. So, you have the world wanting to move outside our channel, and you have the Anglo American alliance trying to protect the dollar syndicate. That is part of the economic war that is going on.”
Fitts says, “Whatever happens on the global stage, it means the days of the subsidy that kept the game inside America is over. So, how do you radically reduce the size of the financial footprint that stopes inflation from going wild? How do you take the subsidy away from the American middle class without a major civil war? . . . . What we did was we did the China trade, and now it’s over, and everybody in America said fine, we will go along. Well, this is the price. You have borrowed from the future and now it’s over.”
Why the sudden record gun buying in America? Fitts says, “They understand that the rule of law is steadily being diminished. They see all sorts of behavior . . . that is lawless. . . .They see people in poverty say if anything goes for the big guys, then anything goes for us. . . . Part of what is happening is we are dealing with a spiritual war, and there are serious demonic and occult forces at work. There is nothing they would love more than to stop the churches and stop people from getting together and praying and inviting in the divine and angelic hope every Sunday. I am with the President. I think stopping the churches from gathering is a very, very terrible idea.”
Fitts also still thinks gold is a good investment that will “outperform most other investments in 2020.”
Join Greg Hunter of USAWatchdog.com as he goes One-on-One with Catherine
Austin Fitts, publisher of “The Solari Report.”
(To Donate to USAWatchdog.com Click Here)
- Post #8,091
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- Apr 5, 2020 3:55pm Apr 5, 2020 3:55pm
- | Commercial Member | Joined Dec 2014 | 11,485 Posts
Citizen Journalists are Popping Up Everywhere to Show the US Media is Intentionally Creating FAKE NEWS
Blog/Disease
Posted Apr 5, 2020 by Martin Armstrong
Categories: Disease, Press
« Q&A
- Post #8,092
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- Apr 5, 2020 6:57pm Apr 5, 2020 6:57pm
- | Commercial Member | Joined Dec 2014 | 11,485 Posts
- Post #8,093
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- Apr 5, 2020 9:37pm Apr 5, 2020 9:37pm
- | Commercial Member | Joined Dec 2014 | 11,485 Posts
- Post #8,094
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- Apr 7, 2020 2:45am Apr 7, 2020 2:45am
- | Commercial Member | Joined Dec 2014 | 11,485 Posts
- Post #8,095
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- Apr 7, 2020 7:26am Apr 7, 2020 7:26am
- | Commercial Member | Joined Dec 2014 | 11,485 Posts
Good morning
Here is a perfect example of a Forex trader who decided that he could do anything because I showed him part of my method how to trade.
Look at loveandpeace's drawdown positions
There is a need to cut your losses and even though he is way ahead , I am not sure why he did not have his stop loss entered.
Bruce
- Post #8,096
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- Edited 8:29am Apr 7, 2020 7:56am | Edited 8:29am
- | Commercial Member | Joined Dec 2014 | 11,485 Posts
Guest Post by Tom Luongo
https://i1.wp.com/tomluongo.me/wp-co...16%2C459&ssl=1
Consider this an open message to The Davos Crowd. I can see you using the pandemic of COVID-19 to run the table on holding onto power while your institutions fail.
It is obvious that by either design or acting opportunistically this pandemic has become your casus belli on us, to usher in a new world based on total surveillance, total compliance and control.
You’ve used fear over a bug to induce mass hysteria at a level that is difficult to contain. After more than two generations of marginalizing the masculine and amplifying the feminine the Progressive deification of trained experts which you turned into ‘believe all women’ to push identity politics has reached its zenith.
This has now reverted back into ‘believe all smart people’ in the minds of your useful idiots who retweet exponential growth curves they don’t understand and take as gospel truth your antipathy to curing this virus.
Thanks to this mass induced insanity we have a society that is uncomfortable with the risk of living thanks to a Nanny State that is more Oedipal Mother than the usual Abusive Father.
But this is more than just risk aversion. It’s truly a pathological fear of risk and the consequences of poor decisions; high time-preference decisions that permeate every aspect of our Western society.
Because we’ve been conditioned by you to believe there’s always another bubble to be blown up. There’s always another credit-induced boom around the corner. Housing prices can’t go down. Our jobs will come back and there will always be enough food.
But that myth of the magic money tree can’t bargain with a random piece of foreign DNA. The threat to our biology can’t be fought with more fake money.
But we still cling to your mass delusion that we live in a post-scarcity age that’s endemic across the generations. Even the angry and bitter Gen-Xers aren’t quite ready for what the world looks like without access to nearly unlimited credit.
And it has created the false sense of security that we as a species have mastered risk.
But we haven’t. You’ve mastered the art of laying off that risk for another day, another week, another year and called it prosperity.
And because we all want to believe we’re smarter than average bear and don’t want to face tomorrow without our favourite things we go along with the comfortable lie.
In other words, we believe risk is someone else’s problem. And that we owe the debts to ourselves. And it’s okay to foist risk off on those hapless suckers lest we be inconvenienced by the barest minimum of privation.
Let’s call that, in the words of a friend of mine, Spiritual Boomerism.
It’s so insane that our financial system is built on pricing debt instruments based on the dubious concept of R* equalling zero. What is R*? It’s the ‘default risk premium’ used to ‘price’ financial assets.
Only supremely arrogant people who believe they have conquered time, can believe there are such things as risk-free anything.
But it’s clear that into this risk less world you’ve steered us into thinking exists we’re being over-stimulated to believe in the potential risk from COVID-19 to push for changes to our society that benefit you far more then us.
But I thought we mastered risk. You told us so.
And that’s the dirty little secret isn’t it? The truth is that you’re the ones that can’t handle risk. You’ve never actually risked anything, preferring instead to create an endless series of one-way trades where no matter who loses, you win.
You love your power and pelf. You believe you are the wise, all-seeing parents, guiding their wayward children to a better world, your Utopia.
The risk less systems you’ve deluded us into building for your benefit over-invested in the wrong kinds of insurance; social safety nets that are now overwhelmed to the breaking point and are soon to be revealed as just another failed bribe.
While the kinds we need, medical infrastructure, don’t have a dime’s worth of spare capacity when risk actually rears its ugly head, because you extracted that out in all your laying off the risk.
From the beginning, the threat from COVID-19 wasn’t about the virus itself but about its added strain to already over-strained medical systems. These are the mismanaged and malinvested systems of either full-on state control like in your paragon of Europe or Byzantine regulatory strata designed to eliminate competition and drive up pricing known here as Obamacare.
And now you’re going to use your own failures to scare us into accepting the worst kinds of intrusions into our lives. You’re going to lock out dissidents who refuse to get a medical passport and Bill Gates’ ID2020 chip.
It’s like all of a sudden Gates has emerged as the high priest of Spiritual Boomerism.
We need this as the first stage of preparation for the next virus coming our way.
Because, you know, risk.
We’ve gone from a fairly normal world to an episode of Black Mirror in a month. And in your unbelievable hubris you think we’re all going to just go along with it because of a fucking cold and a four-year old TED Talk?
Do you really think we’ve become such ball-less eunuchs to think that this worship of blue-check marked, official smart people is the key to humanity’s future in dealing with the risks of being alive?
Because we can see you crapping your pants on TV, by the way. That is, when we decide to tune in for a few minutes to see if you’re still there.
But looking at the numbers it’s clear we’re not watching your doom porn anymore and we’ve got a whole lot more time on our hands to wonder why in the hell we spend 70 hours a week on a hamster wheel to pay the most onerous taxes in human history for a few leftover slips of green paper you treat worse than people treated toilet paper before the Coronapocalypse.
Faith in government is failing at every level. The continued false thesis that China’s death toll is only around 4000 people because they locked everyone down is meant to be the antithesis to the U.S.’s less top-down approach where now the death toll in New York alone is more than three times those that died on 9/11.
And the synthesis in your inaccurate Straussian model of our behaviour is us accepting free movement as long as we can show our proper papers?
Um, how about no?
We can see you prepping the ground for this. This is the deplatforming of Alex Jones taken to its logical conclusion. If we aren’t willing to submit to complete monitoring and tracking of all of our movements then we cannot be a member of your society.
I can see why Donald Trump is fighting this they way he is. He’s started a new Cold War with China because he realizes it’s a major front in his, to date, mostly defensive war against you.
I think he understands that the real fight is between your quislings in the DNC and across the European Union trying to export China’s dystopian world and retaining some semblance of the nation-state. And this full court press for global government in the name of stopping a disease is ludicrous.
Because when you step back from those growth curves and put down the crack pipe full of noradrenaline if we hadn’t named it, if you hadn’t instructed the media to create mass hysteria most people in the world would just see it as another really bad flu season.
Because that’s the reality of the numbers at this point.
And had your financial markets not crapped the bed, you would be lying to us still about the severity of this virus.
- Post #8,097
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- Apr 7, 2020 8:39am Apr 7, 2020 8:39am
- | Commercial Member | Joined Dec 2014 | 11,485 Posts
"The Whole World's F**ked!" - Raoul Pal Pulls No Punches In Latest Interview
https://zh-prod-1cc738ca-7d3b-4a72-b...?itok=LY4e264-
by Tyler Durden
Tue, 04/07/2020 - 05:30
"The whole world's f**ked."
That is how Raoul Pal, the former hedge-fund manager who founded Real Vision, reacted when he first heard of the uncontrolled and rapid contagion of COVID-19 across the globe. Speaking from his home in the Cayman Islands on the latest "Lindzanity" podcast, the ex-Goldman, ex-GLG Partners trader said:
"The moment the spread hit Iran... and then Italy... that all happened over the span of three or four days... I was like: 'time to panic before everybody else'..."
"It's human behavior function. If the Chinese closed every single border and every city, everybody's going to do it."
"I said: 'Listen, this is the biggest economic event of all of our lifetimes - and it's coming'" he added. "And that was, in retrospect, the greatest call I've ever had."
https://zh-prod-1cc738ca-7d3b-4a72-b...4650628807.jpg
And now, with stock markets down 20-40% (depending on geography), bond yields collapsed, credit spreads still blown out, oil almost in the teens, and gold topping $1700, Pal continues to think (even after Monday's manic short-squeeze meltup), that COVID-19 will cause "the largest insolvency event in all history." And, as Business Insider notes, given his track record as of late, that's not reassuring.
"I think the balance of probabilities are that this is a much longer event - in terms of economic impacts - than anybody is pricing in," he said.
"I think it's a huge societal change that's coming from all of this."To Pal, it is the duration of the fallout from COVID-19 lockdowns that is the key factor here, and one he believes investors are not paying enough attention to (let alone pricing in). In his mind, those who are a projecting sharp V-shaped recovery in the third and forth quarter are incorrect in their assumptions.
"Isolation is going to be a real event for a significant period of time," he said.
"You've got a world that's going to be much more closed, and that's leading to complications in supply chains."
He added: "It makes people become more local."
Given all those concerns, this is how Pal is positioning his portfolio to weather a deeper equity rout and global uncertainty. Ideally, he'd like to get to the allocation below.
- 25% Bitcoin
- 25% gold
- 25% cash
- 25% trading opportunities
"So I'm now in the point of thinking we've got another 20% downside or so to come before we get the 3-, 4-month bounce of hope," he said.
"For the average guy, this is a very, very, very difficult world we're going to go into — and I can't sugarcoat it because there is no nice answer."
It appears Pal believes in the 1987 analog (for now)... a retest followed by some hope-filled gains.
https://zh-prod-1cc738ca-7d3b-4a72-b..._9-36-01_0.jpg
But the endgame is 1929...
https://zh-prod-1cc738ca-7d3b-4a72-b.../bfmB4BE_0.jpg
Listen to the full podcast below:
However, it is Pal's 'even bigger picture' view of the world that has many more gravely concerned. As he recently tweeted, "I can see there is a lot of chatter about the potential for the dollar to hit cycle peak [amid The Fed's QEternity and unlimited swap lines]... It may be correct, who knows? This is some of my take from my latest GMI April 2020 Monthly..."
Referring to his institutional market research at Global Macro Investor, Pal's most recent thoughts (excerpted) on "A Dollar Standard Crisis" are as follows:
Less available dollars, in a world of a massive dollar shortage, drives up the dollar creating a shortage both home and abroad. Money printing does not make the dollars available. They get stuck in the financial system and hoarded.
Money for the banks, no money for the debtors...
The domestic shortage of dollars means that money gets hoarded while defaults rise. And the shortage abroad means that $13tn of debt scrambles for the available dollars as world growth slows and banks are less free with capital.
Don't forget - the $13tn short dollar positions (foreign dollar debt held mainly by foreign corporation and investment vehicles) is the largest position ever taken in the history of global financial markets.
It can only mean a massive, uncontrolled dollar rally.
QE will not fix this. Swap lines will not fix this. A debt jubilee would fix this or multiple trillions of dollars in write-downs and defaults.
It is the dollar strength that brings to world to its nadir (just like the 1930s). It is the dollar system that is the really big problem.
https://zh-prod-1cc738ca-7d3b-4a72-b...es/bfmBA72.jpg
The dollar has eaten all of its competitors and now it is going to eat itself.
This eventually breaks the dollar after a super-spike as global central banks are forced to find alternatives. They are already working on digital currencies for exactly this.
* * *
Pal's latest thoughts on "The Unraveling" can be found here (subscribers only).
The biggest event of all of our lifetimes has now begun to come clear, and Raoul believes we are still only in the first phase – the panic. It will most likely play out in three acts over several years:
- First, the panic, which is the liquidity phase.
- Then the hope, which is the correction phase.
- And finally, the insolvency, the brutal phase that changes everything, including the system itself.
- Post #8,098
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- Apr 7, 2020 12:23pm Apr 7, 2020 12:23pm
- | Commercial Member | Joined Dec 2014 | 11,485 Posts
- Post #8,099
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- Edited 2:52pm Apr 7, 2020 2:29pm | Edited 2:52pm
- | Commercial Member | Joined Dec 2014 | 11,485 Posts
April 7, 2020
Trump Warns “It's All Going to Come Out” As Coronavirus Meets “Stupidest Idea In The History Of The World”
By: Sorcha Faal, and as reported to her Western Subscribers
An intriguing new Security Council (SC) report circulating in the Kremlin today noting that Communist China has just made urgently needed coronavirus medical supply shipments to France conditional upon this European Union nation adopting Huawei 5G technology, strongly advises that French officials should more closely examine this blackmail “threat-offer” before accepting it—an examination that would discover the Communist Chinese announcing in October-2019 that their supply of vaccines for the 2019-2020 flu season would be twice as large from the previous year—which allowed China to begin a mass inoculation of their citizens to prevent the spread of the flu like nearly all other nations in the world—but on 1 November 2019, saw emerging during this mass flu inoculation of the Chinese peoples the first reported case of the novel coronavirus COVID-19 in their Hubei Province—which by December-2019, saw this coronavirus exploding into an epidemic in Wuhan-China—all of whose patients were rushed into new coronavirus hospitals Huawei was very quick to install 5G systems in—and all coming at the same US military doctor-scientists were discovering that the flu vaccine increases the coronavirus risk by 36%—a shock discovery quickly noticed by American scientific medical experts at Washington State University who then published their report titled “The Role of 5G In The Coronavirus Epidemic In Wuhan China” that raised questions about the “causal role 5G may have had on people infected with coronavirus” in places where it was rolled out first, such as in Wuhan—and saw its lead scientist Professor Emeritus-Doctor Martin Pall, PhD declaring in outright terror: “Putting in tens of millions of 5G antennae without a single biological test of safety has got to be about the stupidest idea anyone has had in the history of the world”.
A terror declaration heard around the world leading to ordinary peoples now torching 5G towers in fears of what is really occurring—and in America where its globalist-socialist Democrat Party forces are rapidly enacting and enforcing a “COVID-19 Surveillance State Stasi” complete with ankle trackers, beatings and tickets, sees arising what are being called “Liberty Rebellions” to fight against this socialist tyranny—a rebellion for liberty begun by these intending to stay free American peoples being spurred by the exposure of this coronavirus as being the “Scamdemic” farce it truly is—best exampled as being true by the too many to count ordinary America citizen videos showing their nation’s hospitals are nearly empty—a empty hospital fact that can no longer be ignored by the globalist-socialist aligned US mainstream propaganda media, which is why the rabidly anti-Trump leftist mouthpiece New York Times published their comical article titled “Where Have All the Heart Attacks Gone?”—wherein these maniacal leftists attempt to convince the American people that their hospitals are empty because all of sudden everyone has stopped having heart attacks, strokes and getting cancer—which if true would make the COVID-19 coronavirus the greatest miracle cure of diseases and death ever witnessed in all of human history.
An absurdity, most certainly, known to globalist-socialist leader Henry Kissinger—who just days ago “threatened to set the world on fire” unless President Donald Trump bows down and surrenders to the godless globalist-socialists, and who is now calling for the immediate creation of global New World Order government to rule over humanity—a demonic call heard by President Trump, who then used his top strategist Steve Bannon to immediately fire back at Kissinger with a dire warning telling this socialist monster: “You Have Blood on Your Hands - It's All Going to Come Out”—and whose equally critical words, besides Bannon’s, to be heeded as this “Coronavirus Pandemic War” rages on, are those being spoken by the last living world leader who guided humanity through its last global realignment of international strategic power, Mikhail Gorbachev—who nearly 30-years ago, in 1991, endured a deadly coup d'état attempt while throwing off the necks of the Russian peoples tyrannical socialist rule—and who today knows exactly what the sick and tired of endless war American leader President Trump is doing with his “revising of the entire global agenda”—and in knowing, sees Gorbachev now telling the entire world: “Is it not clear by now that wars and the arms race cannot solve today’s global problems?...War is a defeat, a failure of politics!...This common tragedy has reminded us of the futility of trying to go into hiding and sit it out, ignoring the threats that we face…In today’s world, no one can hope to go into hiding!”. [Note: Some words and/or phrases appearing in quotes in this report are English language approximations of Russian words/phrases having no exact counterpart.]
http://www.whatdoesitmean.com/nat21.jpg
According to this report, with the outlines of this “Coronavirus Pandemic War” beginning to emerge when, after just 3-days in power, President Trump ordered his FBI forces to conduct a massive raid on CDC headquarters on 23 January 2017, a mysterious event left equally barely noticed by the American that was followed when loyal Trump forces returned to the CDC a number of months later, in December-2019, to remove from it documents and virus samples, that were then loaded on a plane and transferred to Israel—which makes it no surprise that Israeli scientists have announced that they’ve developed a coronavirus vaccine—and while occurring, saw President Trump using his first two years in office to begin his “unprecedented and massive” buildup of American military power—after which he began the third year of power he’s currently in by issuing an outright declaration of war against globalist-socialist forces with his solemn vow to his nation’s citizens that “America Will Never Be A Socialist Nation”.
Among the many intelligence, economic and geopolitical experts from all around the world noticing with grave alarm and concern President Trump’s preparations for war against his globalist-socialist enemies, this report notes, one of the most astute of them is the powerful international investor and business cycle genius Raoul Pal—who aside from his just issued grim warning that “The Whole World's Fucked!”—correctly observes that “This is the biggest economic event of all of our lifetimes – And It’s Coming!”, with his further stating the truth that: “It is the US dollar strength that brings the world to its nadir …just like the 1930’s…It is the dollar system that is the really big problem”.
The “big problem” with the US Dollar, this report explains, is that since it was made the world’s reserve currency in the aftermath of World War II, the globalist-socialist forces ruling America have used it to finance endless wars costing millions of lives, as well as robbing the American people of trillions-of-dollars of their wealth now urgently needed to rebuild their nation after near half-a-century of socialist rule—which noted British investment fund manager Simon Dixon has just correctly called “The World’s Largest Ponzi Scheme”, with his further noting the truth that both “fiat currency and banking are on their way to collapse”—a truth now being echoed by Raoul Paul, who’s just warned that this “Coronavirus Pandemic War” has become “The Largest Insolvency Event In History”—but is an insolvency of the global banking system and its elite socialist-globalist owners and investors, not the United States itself—which is why Dixon is predicting that President Trump will protect his nation’s citizens from this economic carnage by his creating their own digital currency and essentially allowing banks to go bust without people losing their money—a prediction, however, Russian economic experts don’t fully agree with, as they maintain the evidence shows President Trump is preparing to return the United States to the gold standard—and when occurring “would turn an economic debacle into a miracle”—and has even top American economic experts writing about, who are now saying such true things as:
Trump could outperform Franklin D. Roosevelt, who, facing the even greater catastrophe of the Great Depression, defied the conventional wisdom and, although only temporarily, got the engines of commerce roaring again.
Trump, like FDR who enjoyed pitting his advisors against one another, is not intimidated by experts.
Trump has the disposition to do what the late, great, JFK's chief economist Walter Heller advised Congress in 1985: “Rise above principle and do what is right.”
The power of good money — restoring integrity to the dollar, not government checks mailed to the teeming millions — typically is deeply underestimated by contemporary economists.
A great pity.
The evidence shows that the highest integrity money is the gold standard.
The experts don't get this. Trump does.
http://www.whatdoesitmean.com/nat22.jpg
With even highly esteemed American constitutional law expert Wayne Jett observing the full implications of this “Coronavirus Pandemic War”, this report concludes, it was no wonder that back in February he astutely observed” “We are at the end stage of the fiat currency disease, which means they always go to zero…It’s just a matter of how long can they extend it in terms of the way they are able to acquire more hard assets with their worthless currency before it goes to zero for the rest of us…I believe the Trump Administration is on the course towards turning to sound currency, meaning an end to the Fed and meaning something in return to something like a gold standard”—but which no ones knows at this time, is if President Trump can successfully pull off what can only be described as the complete obliteration of the globalist-socialist New World Order—a battle fought for over a century that’s seen American leaders assassinated and thrown from office for even daring to attempt what President Trump is doing—but is, also, the exact same President Trump who has absolutely no fear at all of his nation’s “hidden power rulers” he’s determined to destroy before they can destroy America, and him along with it.
http://www.whatdoesitmean.com/nat27.jpg
http://www.whatdoesitmean.com/nat29.jpg
http://www.whatdoesitmean.com/nat30.jpg
http://www.whatdoesitmean.com/nat28.jpg
April 7, 2020 EU and US all rights reserved. Permission to use this report in its entirety is granted under the condition it is linked to its original source at WhatDoesItMean.Com. Freebase content licensed under CC-BY and GFDL.
[Note: Many governments and their intelligence services actively campaign against the information found in these reports so as not to alarm their citizens about the many catastrophic Earth changes and events to come, a stance that the Sisters of Sorcha Faal strongly disagree with in believing that it is every human being’s right to know the truth. Due to our mission’s conflicts with that of those governments, the responses of their ‘agents’ has been a longstanding misinformation/misdirection campaign designed to discredit us, and others like us, that is exampled in numerous places, including HERE.]
[Note: The WhatDoesItMean.com website was created for and donated to the Sisters of Sorcha Faal in 2003 by a small group of American computer experts led by the late global technology guru Wayne Green(1922-2013) to counter the propaganda being used by the West to promote their illegal 2003 invasion of Iraq.]
[Note: The word Kremlin (fortress inside a city) as used in this report refers to Russian citadels, including in Moscow, having cathedrals wherein female Schema monks (Orthodox nuns) reside, many of whom are devoted to the mission of the Sisters of Sorcha Faal.]
America Endures First In World History “Let Stupid People Die” Pandemic
Nothing Will Ever Be The Same After New Age Of Heroes Arises With Coronavirus
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- Post #8,100
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- Edited 11:09am Apr 8, 2020 10:41am | Edited 11:09am
- | Commercial Member | Joined Dec 2014 | 11,485 Posts
Submitted by Michael Every of Rabobank
Don't count your chickens
YouTube and Twitter contain some of the best ways to waste time and rot one’s brain known to man. They also contain rare gems to stimulate and delight. Indeed, watching Nassim Taleb disembowel his intellectual opponents in real time is the closest one can get to experiencing the atmosphere of febrile 18th century London coffee houses, or perhaps even ancient Athens.
On a similar note, the other day I was watching on YouTube Eric Weinstein—whom I met with his brother Brett at a convention once briefly in Sydney—discuss everything from pro-wrestling to US elections to cultural preferences to the unfortunate anatomy of bed bugs, and he also came out with this timely gem.
Tonight, for those who know, is Passover, the ancient Jewish festival which celebrates liberation from slavery in Egypt and avoiding a deadly plague. This year it happens with Jewish communities around the world locked down or under curfew - in order to avoid a plague. Some irony! (“Why is this Seder night different from all other Seder nights?”)
As Eric pointed out, this tradition does one basic thing well: it reminds its celebrants every single year that sometimes one needs to get out while the getting is good, even if the bread hasn’t finished rising. Of course, this isn’t literally about bread. It’s about recognizing that sometimes one needs to accept that the overarching structures around us are wrong, unsustainable, or even dangerous even while they are comfortable: and then it’s time to “move” accordingly regardless of what can be seen as high costs.
One can interpret that as being brave in markets, as this is a markets Daily, or in life in general. Yet as Eric points out, we are currently surrounded by structures that are not fit for purpose. We have a British PM in intensive care after plugging herd immunity and boasting that he shook hand with Coronavirus patients.
We have leading scientists telling us there will be zero, then 250,000, then 5,700 deaths; and Dr Fauci, who is lionized today, was telling us in January and February that COVID was nothing to worry about at all. We have economists arguing the economy needs to come first at some point - as if opening it up will not see the virus wreak havoc and just end up with it closing down again.
More broadly, we have socioeconomic systems that didn’t work pre-virus. Yet we seem eager to run back to where we were three months ago - when three months ago many were screaming that mankind was cutting its own throat via global warming; that inequality was building to dangerous levels; and that so were international tensions.
So what’s the point? First, “eat something, already!” Second, try to take a step back and look at the bigger picture. What really makes sense? What doesn’t? If you had a button to press to eject now, would you? And if you don’t, can you make one?
In markets terms, what will the world look like in 18 months? Do you know? Do you like what you foresee? If not - move!
For many market participants yesterday was an opportunity to express relief that in some countries the level of new coronavirus cases was levelling off allowing a few governments to consider loosening lockdowns. That said, shockingly the number of deaths is still rising and the stark reality of this appeared to halt the two day stock market rally in Asia overnight. Even though the S&P 500 had briefly re-entered a bull market in yesterday’s trading, it had already closed slightly lower yesterday, led by movements in the oil price. The IEA shook the market yesterday by slashing its price forecasts for WTI in 2020 by 20%. That said, already the oil market is this morning finding its feet on the hope that tomorrow’s virtual OPEC+ meeting will settle on production cuts.
Day ahead
The stock market rallies of the past two days are despite the fact that neither economic nor earnings data have really begun to unveil the enormity of the economic crisis that the world has been plunging into in the past few weeks. A glimpse of this has been provided by recent US labour data and huge claims for welfare in countries such as the UK and Canada last month. This morning the Bank of France issued a sobering forecast of a 6% decline in GDP in Q1 2020.
Even though investors have been appeased by the massive policy responses of governments and central banks around the world, this will not be cost free. The weakness at the long end of the US curve yesterday is likely related to the Treasury’s plans to resume sales of 20 year notes. The deteriorating position of public finances of governments can be expected to bring a reaction from credit rating agencies in various countries. S&P marked out Australia this morning with a reduction in its AAA credit rating outlook to negative.
Unsurprisingly, the decision was based on the anticipated sharp rise in public debt and the fact that the country is facing its first recession in almost 30 years. On Tuesday, Fitch had already downgrading the credit ratings of the country’s big banks from AA+ to A- on the expected rise in bad debts as business fail. The news threw cold water on yesterday’s sharp recovery in AUD/USD.
Inevitably, there has also been an increase in finger pointing from politicians this week as they take a step back from their initial panic reactions. President Trump has singled out the WHO for being late in warning about the virus outside of China. Trump, who will be keen to shift any blame away from himself ahead of the November election, has threatened to withhold funding for the WHO. The UK’s chief medical officer has admitted that the decision of PM Johnson’s government not to roll out mass testing was a mistake. Having little to no idea how far the virus has spread in the broader community will hamper any plans to allow the economy to normalize in the coming months.
After 76 days the lockdown in Wuhan has now been lifted. 50,000 people have reportedly already purchased train tickets to leave. The world will be watching with interest since reports are circulating that Singapore and in Hong Kong are now suffering a second wave of infections of COVID 19 which is potentially worse than the first. Hong Kong has extended indefinitely a two week closure of its airports to foreign arrivals that was due to end on Tuesday and is extending its relief package. This comes as Japan PM Abe declares a state of emergency for Tokyo, Osaka and five other virus hotspots in the country.
In Europe, yesterday’s meeting of EU finance ministers failed to settle on a compromise as to how to deal with the financial costs of the virus. Ahead of the meeting, which dragged into the early hours of this morning, Spain’s PM Sanchez had warned that nothing less than the future of the European project could be at stake. Talks will continue tomorrow.
For the most part, economic data releases continue to reflect a pre-crisis situation. That said, today’s release of the minutes of the Fed’s March meetings can be expected to display how panicked policy makers were last month. The minutes are expected to bring detail of the Fed’s decisions on March 3 and March 15 and the slate of measures that were taken then. This should be another sobering reminder of the enormity of the current crisis.