investmentwatchblog--2020-04-30--Mortgage Forbearance Balloons, Home Sales Plunge

In addition to logistical difficulties of selling a home in the era of social distancing , there is the explosion of a historic unemployment crisis .
By the end of April , there will be 4.2 million mortgages in forbearance , or 7.6 % of all mortgages , the American Enterprise Institute estimated in a note , based on forbearance data through April 19 released by the Mortgage Bankers Association yesterday .
These homeowners whose mortgages are in forbearance will not make any mortgage payments for some months , as spelled out in the forbearance agreement they have entered into @ @ @ @ @ @ @ The missed mortgage payments will be added to the remainder of the mortgage , so it ’ s not free .
But the cash – interest and principal payments – of those mortgages has stopped flowing up the chain .
Mass forbearance of this type has thrown the entire mortgage market into chaos – and what keeps it from imploding is the US government , which is purchasing or guaranteeing most mortgages written , and the Fed which is buying mortgage-backed securities issued by these government entities .
The government is on the @ @ @ @ @ @ @ April 27 , 5.9 % of the mortgages on the books of Government Sponsored Enterprises Fannie Mae and Freddie Mac were in forbearance , according to the AEI , and 10.5 % of the mortgages on the books of government agency Ginnie Mae were in forbearance .
Pending home sales – signed contracts that haven ’ t closed yet – are an indication of closed sales a month or two down the road .
These contract signings on existing homes in March plunged by 20.8 % from February , and were down 16.3 @ @ @ @ @ @ @ to the National Association of Realtors today .
But this decline is an average of the first half of March which was likely in the normal range , and the second half of March , when the lockdowns were implemented , and when sales volume plunged more steeply .
Nevertheless , it took the index back to the 2010-2011 housing-crisis range .
And many of these contracts might not close ; failure rates can be high even in good times , and are likely higher now .
The number of mortgage applications to @ @ @ @ @ @ @ the week ended April 24 ticked up from the dismal levels of the prior three weeks , but were down 20 % from a year ago , and were down 34 % from the peak at the end of January , the Mortgage Bankers Association reported today .
It was the sixth week in a row of year-over-year plunges .
For the first four weeks of April , the index has plunged 31 % compared to the same period last year .
The purchase mortgage applications data – based on weekly surveys of @ @ @ @ @ @ @ cover three-quarters of all residential mortgage applications – is an early indication of demand by regular people who need or want a mortgage to buy a home .
But this does not include demand by buyers who don ’ t need a mortgage from a lender in the US , including some formerly prolific buyers that have now pulled backed and their disappearance is not reflected in the mortgage data : • Nonresident foreign investors who bring cash or finance their purchase overseas ; they have largely been locked out due to travel @ @ @ @ @ @ @ that fund purchases at the institutional level ; they ’ re now struggling with turmoil in the lending markets and uncertain demand for rental housing .
• “ iBuyers ” that buy homes and flip them at steep losses .
They include Zillow [ Z ] , Redfin [ RDFN ] , Opendoor , iBuyer , and Offerpad .
They have all shut down their home purchases , and demand from them has collapsed to zero .
And they ’ re now trying to sell the homes they got stuck with .
But @ @ @ @ @ @ @ is not reflected in the mortgage application data .
This drop in demand will show up later in the home sales data .
In the states that kicked off the virus-control measures first , mortgage applications dropped earlier and more than the national average , according to the MBA .
Of the three states – California , New York , and Washington – purchase mortgage applications plunged the most in New York , with year-over-year declines that reached 60 % in the week ending April 3 .
Since then , the year-over-year declines @ @ @ @ @ @ @ remain huge : -50 % in New York , -37 % in Washington , and -34 % in California : Refis not quite as hot , but still hot .
Low mortgage rates have motivated homeowners with existing mortgages to refinance their mortgages in past weeks , but the enthusiasm of early and mid-March has waned a bit .
Applications for refi mortgages in the week ended April 24 ticked down from the prior two weeks and were down 39 % from early March , but were still triple the volume of the @ @ @ @ @ @ @ for 72 % of all mortgage applications .
Real estate brokers and their potential customers are now trying to use online tools to the extent possible in the sales process , with virtual open houses , e-signings , and the like .
And some deals are being made .
But for many people , this just isn ’ t a great time to buy a home : Initial unemployment claims have already reached 26.5 million over the past five weeks and will reach 30 million over the next couple of weeks ; and @ @ @ @ @ @ @ income are not eligible to file for unemployment and are not in the unemployment claims data .
Other people are looking at their jobs that they still have and that used to be promising and are confronted with layoff news that keep rippling across the screen , such as those now at Uber and Lyft .
People whose jobs have vanished – even if it ’ s presumed to be temporary , and even if the income will be replaced by unemployment insurance – and people who are in the process of losing @ @ @ @ @ @ @ going to buy a home , and even if they wanted to , they wouldn ’ t qualify for a mortgage .
In addition to the logistical difficulties of selling a home and closing a deal in the era of social distancing , there is the issue of economic uncertainty and the explosion on the scene of a historic unemployment crisis .
And that explains the volume declines we ’ re now seeing in the various preliminary measures of the housing market in the range of -20 % to -50 % .

In addition to logistical difficulties of selling a home in the era of social distancing, there is the explosion of a historic unemployment crisis.
By the end of April, there will be 4.2 million mortgages in forbearance, or 7.6% of all mortgages, the American Enterprise Institute estimated in a note, based on forbearance data through April 19 released by the Mortgage Bankers Association yesterday.
These homeowners whose mortgages are in forbearance will not make any mortgage payments for some months, as spelled out in the forbearance agreement they have entered into with their mortgage lenders or servicers. The missed mortgage payments will be added to the remainder of the mortgage, so it’s not free.
But the cash – interest and principal payments – of those mortgages has stopped flowing up the chain. Mass forbearance of this type has thrown the entire mortgage market into chaos – and what keeps it from imploding is the US government, which is purchasing or guaranteeing most mortgages written, and the Fed which is buying mortgage-backed securities issued by these government entities.
The government is on the hook for this forbearance: As of April 27, 5.9% of the mortgages on the books of Government Sponsored Enterprises Fannie Mae and Freddie Mac were in forbearance, according to the AEI, and 10.5% of the mortgages on the books of government agency Ginnie Mae were in forbearance.
March deals plunge.
Pending home sales – signed contracts that haven’t closed yet – are an indication of closed sales a month or two down the road. These contract signings on existing homes in March plunged by 20.8% from February, and were down 16.3% from March last year, according to the National Association of Realtors today.
But this decline is an average of the first half of March which was likely in the normal range, and the second half of March, when the lockdowns were implemented, and when sales volume plunged more steeply. Nevertheless, it took the index back to the 2010-2011 housing-crisis range. And many of these contracts might not close; failure rates can be high even in good times, and are likely higher now.
April deals plunge.
The number of mortgage applications to purchase a home in the US during the week ended April 24 ticked up from the dismal levels of the prior three weeks, but were down 20% from a year ago, and were down 34% from the peak at the end of January, the Mortgage Bankers Association reported today. It was the sixth week in a row of year-over-year plunges. For the first four weeks of April, the index has plunged 31% compared to the same period last year.
The purchase mortgage applications data – based on weekly surveys of banks, nonbanks, and thrifts that cover three-quarters of all residential mortgage applications – is an early indication of demand by regular people who need or want a mortgage to buy a home.
But this does not include demand by buyers who don’t need a mortgage from a lender in the US, including some formerly prolific buyers that have now pulled backed and their disappearance is not reflected in the mortgage data:
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Nonresident foreign investors who bring cash or finance their purchase overseas; they have largely been locked out due to travel restrictions.
Large US buy-to-rent investors that fund purchases at the institutional level; they’re now struggling with turmoil in the lending markets and uncertain demand for rental housing.
“iBuyers” that buy homes and flip them at steep losses. They include Zillow [Z], Redfin [RDFN], Opendoor, iBuyer, and Offerpad. They have all shut down their home purchases, and demand from them has collapsed to zero. And they’re now trying to sell the homes they got stuck with.
But the drop in demand from these buyers is not reflected in the mortgage application data. This drop in demand will show up later in the home sales data.
New York, Washington, California.
In the states that kicked off the virus-control measures first, mortgage applications dropped earlier and more than the national average, according to the MBA.
Of the three states – California, New York, and Washington – purchase mortgage applications plunged the most in New York, with year-over-year declines that reached 60% in the week ending April 3. Since then, the year-over-year declines have backed off a tad, but remain huge: -50% in New York, -37% in Washington, and -34% in California:
Refis not quite as hot, but still hot.
Low mortgage rates have motivated homeowners with existing mortgages to refinance their mortgages in past weeks, but the enthusiasm of early and mid-March has waned a bit.
Applications for refi mortgages in the week ended April 24 ticked down from the prior two weeks and were down 39% from early March, but were still triple the volume of the same week last year. Refis accounted for 72% of all mortgage applications.
Real estate brokers and their potential customers are now trying to use online tools to the extent possible in the sales process, with virtual open houses, e-signings, and the like. And some deals are being made.
But for many people, this just isn’t a great time to buy a home: Initial unemployment claims have already reached 26.5 million over the past five weeks and will reach 30 million over the next couple of weeks; and many people who’ve lost their income are not eligible to file for unemployment and are not in the unemployment claims data.
Other people are looking at their jobs that they still have and that used to be promising and are confronted with layoff news that keep rippling across the screen, such as those now at Uber and Lyft. People whose jobs have vanished – even if it’s presumed to be temporary, and even if the income will be replaced by unemployment insurance – and people who are in the process of losing their jobs, just aren’t going to buy a home, and even if they wanted to, they wouldn’t qualify for a mortgage.
In addition to the logistical difficulties of selling a home and closing a deal in the era of social distancing, there is the issue of economic uncertainty and the explosion on the scene of a historic unemployment crisis. And that explains the volume declines we’re now seeing in the various preliminary measures of the housing market in the range of -20% to -50%.


Trump Administration Accomplishments

More Americans are now employed than ever recorded before in our history .
We have created more than 400,000 manufacturing jobs since my election .
Manufacturing jobs growing at the fastest rate in more than THREE DECADES .
African-American unemployment has recently achieved the lowest rate ever recorded .
Hispanic-American unemployment is at the lowest rate ever recorded .
Youth unemployment has recently hit the lowest rate in nearly half a century .
Lowest unemployment rate ever recorded for Americans without a high school diploma .
Under my Administration , veterans ’ unemployment recently reached its lowest rate in nearly @ @ @ @ @ @ @ have been lifted off food stamps since the election .
The Pledge to America ’ s Workers has resulted in employers committing to train more than 4 million Americans .
We are committed to VOCATIONAL education .
95 percent of U.S. manufacturers are optimistic about the future—the highest ever .
Retail sales surged last month , up another 6 percent over last year .
Signed the biggest package of tax cuts and reforms in history .
After tax cuts , over $ 300 billion poured back in to the U.S. in the first @ @ @ @ @ @ @ our tax bill , small businesses will have the lowest top marginal tax rate in more than 80 years .
Helped win U.S. bid for the 2028 Summer Olympics in Los Angeles .
Record number of regulations eliminated .
Enacted regulatory relief for community banks and credit unions .
My Administration is providing more affordable healthcare options for Americans through association health plans and short-term duration plans .
Last month , the FDA approved more affordable generic drugs than ever before in history .
And thanks to our efforts , many drug companies @ @ @ @ @ @ @ .
We reformed the Medicare program to stop hospitals from overcharging low-income seniors on their drugs—saving seniors hundreds of millions of dollars this year alone .
Signed Right-To-Try legislation .
Secured $ 6 billion in NEW funding to fight the opioid epidemic .
We have reduced high-dose opioid prescriptions by 16 percent during my first year in office .
Signed VA Choice Act and VA Accountability Act , expanded VA telehealth services , walk-in-clinics , and same-day urgent primary and mental health care .
Increased our coal exports by 60 percent ; U.S. @ @ @ @ @ @ @ United States is a net natural gas exporter for the first time since 1957 .
Withdrew the United States from the job-killing Paris Climate Accord .
NATO allies are spending $ 69 billion more on defense since 2016 .
Process has begun to make the Space Force the 6th branch of the Armed Forces .
Confirmed more circuit court judges than any other new administration .
Withdrew from the horrible , one-sided Iran Deal .
Moved U.S. Embassy to Jerusalem .
Protecting Americans from terrorists with the Travel Ban , upheld by Supreme @ @ @ @ @ @ @ open Guantanamo Bay .
Concluded a historic U.S.-Mexico Trade Deal to replace NAFTA .
And negotiations with Canada are underway as we speak .
Reached a breakthrough agreement with the E.U .
to increase U.S. exports .
Imposed tariffs on foreign steel and aluminum to protect our national security .
Imposed tariffs on China in response to China ’ s forced technology transfer , intellectual property theft , and their chronically abusive trade practices .
Net exports are on track to increase by $ 59 billion this year .
Improved vetting and screening @ @ @ @ @ @ @ overseas resettlement .
We have begun BUILDING THE WALL .
Republicans want STRONG BORDERS and NO CRIME .
Democrats want OPEN BORDERS which equals MASSIVE CRIME .
Senate confirms Trump ’ s 170th Federal Judge with even more to come Trump meets Kim Jong Un at DMZ and becomes first sitting US President to enter North Korea Production of Hemp to become Legal in all 50 States with Farm Bill passage Trump Limits Asylum Migrants must come in Legally Trump signs the Music Modernization Act , the biggest change to copyright law in @ @ @ @ @ @ @ stop overpaying for Medicine Trump signs Karis Law on the 50th Anniversary of 911 Trump signs into law U.S. government ban on Kaspersky Lab software US Cuts 300 Million In Aid To Pakistan Trump Cut Off 200 Million in Aid to Palestinians Trump has our soldiers remains returned home from Korean War Trump signs Right to Try drug bill US Embassy moved to Jerusalem by President Donald J Trump HISTORIC : Trump Nominates First Woman for Head of CIA Feds collect record taxes in first month under Trump ’ s tax cuts ; @ @ @ @ @ @ @ civil service change in 40 years – ‘ Hire the best and fire the worst ’ New Space Policy Directive Calls for Human Expansion Across Solar System Senate Passes Budget Resolution Clearing the Way to pass Tax Reform with a Simple Majority Four Months into FY 2018 , Refugee Admissions Plunge to Lowest Level in 15 Years US Delays Payment to UN for Palestinians US Suspends $ 2 BILLION in security assistance to Pakistan Global Magnitsky Act Signed : Targeting Global Corruption and Human Rights Abuse Trump cuts Obama ’ s refugee target @ @ @ @ @ @ @ Muslims Trump : ‘ We are stopping cold the attacks on Judeo-Christian values ’ School Choice tops the list of Priorities U.S. Education Department Grants US and Israel withdraw from UNESCO citing “ anti-Israel bias ” Trump has written 46 Executive Orders Treasury Deparment to target companies doing business with North Korea New Order Indefinitely Bars Almost All Travel From Seven Countries Fewest Monthly Refugee Arrivals in August Since 2002 Trump to stop travel from countries that refuse to help Homeland Security America has withdrawn almost $ 300 million in foreign aid to @ @ @ @ @ @ @ various positions U.S. Small Business Administration opens assistance center 800 Obama regulations cut – Saved over $ 200 billion EPA ’ s Pruitt moves to roll back over 30 environmental regulations in record time Haley Tells Congress US Assuming More Assertive Role at UN Trump ’ s EPA To Repeal Obama ’ s ‘ Waters Of The US ’ Rule Statement by President Trump on the Paris Climate Accord Ben Carson Finds $ 500 Billion In Errors during Audit of Obama HUD U.S. Will have Free but Fair and Balanced Trade : Mnuchin @ @ @ @ @ @ @ the Federal Government Critical milestone in the global fight against ISIS Tillerson to back up Trump efforts to bolster Eastern Europe against Russia US to make at least $ 285m cut to UN budget US Economy Added 266,000 New Jobs in November smashing expectations U.S. Unemployment Rate Falls to 50-Year Low ; Trump Economy adding over 6.4 million jobs US Economy Added 164,000 New Jobs in July ; Wages increased 3.2 percent US job openings rise outnumber the unemployed by 1 million Economic Growth Has Reached 3 Percent for the First Time in @ @ @ @ @ @ @ to Lowest Level in Nearly 50 Years Proclamation on Adjusting Imports of Steel into the United States LARGEST DECLINE IN DRUG PRICES IN NEARLY 50 YEARS Trump Policies Keep Economic Boom Going As Job Gains of 304000 Surpass Expectations MORE AMERICANS WORKING NOW THAN EVER BEFORE IN OUR HISTORY 250K JOBS ADDED IN OCTOBER Manufacturing Confidence at an ALL TIME HIGH Construction Jobs up more than 300K compared to last year America is now the worlds largest oil producer Black Business Ownership Under Trump JUMPS 400 PERCENT in ONE YEAR GREAT AGAIN Household @ @ @ @ @ @ @ U.S. Consumer Confidence Is at 17-Year High US homebuilding permits soar to highest level since 2007 Economy to grow at 5.4 % rate in first quarter U.S. jobless claims drop to near 45-year low Wages jump to highest level since 2009 – up 2.9 % U.S. Oil Production Tops 10 Million Barrels A Day , First Time Since 1970 Trump Decreases Debt to GDP Ratio – First Time in Over 50 Years !
Jobless claims drop to lowest level in nearly 45 years Apple to Invest $ 350 BILLION in US citing Trump @ @ @ @ @ @ @ Accelerated to Its Best Year Since 2004 Trump Fights for ‘ America First ’ as 4th Round of NAFTA Negotiations End Crude oil shipment from Texas opens new vistas in India-U.S. ties Argentina agrees to allow first U.S. pork imports in 25 years New memorandum to protect American IPs from China Potentially save Billions of dollars and millions in jobs Coal exports up 60 % China opens rice market for US exports for first time ever Renegotiating NAFTA with Canada and Mexico in order to make better trade deals First U.S. Natural Gas @ @ @ @ @ @ @ worth more than $ 350 billion and various other investment agreements with Saudi Arabia China , U.S. reach trade agreement on beef , poultry and natural gas Trump orders a study on abuses of U.S. trade agreements – WTO Mining up 28.6 % – Leads the Nation in Growth Broadcom will move back to U.S. — and bring tax money with it Ivanka Trump creates new World Bank initiative to foster Entrepreneurship among Women Consumer Sentiment in U.S. Surges to 13-Year High New entrants from outside the labor market made up 3.2 Sales @ @ @ @ @ @ @ Federal Reserve : Household Wealth in America at record high of $ 1.7 trillion – Rising property values and Financial gain Food Stamp Usage Has Fallen Every Month Under Trump Median Incomes Climbing for First Time Since 2007 Trump has signed a $ 15 billion relief package for Texas in the wake of Hurricane Harvey Jobless claims drop to 240,000 – hottest streak in 43 years U.S. Consumer Sentiment Rose in August Recovery Is Finally Trickling Down to Least-Educated Workers U.S. Job Satisfaction Highest Level Since 2005 American manufacturing expanded in August at @ @ @ @ @ @ @ Cuts More US Debt for a Longer Period of Time Than Any President In Trump era , American corporations are seeing their best earnings in 13 years Milestone for Trump : 1 million new jobs in six months National unemployment rate at 4.3 % ( lowest it ’ s been in 16 years ) 13,000 jobs being created in WI – largest job announcement in WI history ( Foxconn ) Some states are experiencing their lowest unemployment rates in their histories U.S. has record 6 million job openings , 6.8 million Americans are @ @ @ @ @ @ @ to lowest level in 16 years Trump signs bills that helps Veterans and Police officers by giving them Priority and Training Government spending as percentage of GDP down 1000s of jobs being created through pact with Saudi Arabia Executive Order on the Establishment of the American Technology Council Alibaba Takes First Step To Fulfilling Jack Ma And President Trump ’ s ‘ One Million U.S. Jobs ’ Promise Creating thousands of more jobs for immigration officers and border patrol Executive ordered all federal agencies to create task forces to cut regulations that hurt @ @ @ @ @ @ @ Highest Level Ever Recorded By Gallup And Yet More !
The United States Has Brought the Leader of ISIS to Justice The United States has Liberated All ISIS-Controlled Territory US signs proclamation against Female Genital Mutilation and Cutting DHS is planning on denying green cards to legal immigrants if they receive federal or state aid ICE has conducted a MASSIVE raid on sanctuary cities this week – 498 illegal immigrants arrested Trump has updated the travel ban to includes 8 more countries Crossing The Border Illegally Is Harder Than It ’ s Been @ @ @ @ @ @ @ Sanctuary Cities – Must allow ICE access to jails and notify before release VA fires more than 500 feds under Trump , even before new accountability law Trump signs VA accountability act into law , promises better care for veterans $ 1.6 billion down payment to start building the wall Trump cuts off visas for countries that refuse deported immigrants Denver To ICE : Stop Arresting Illegal Immigrants At Courthouse .
ICE To Denver : Not A Chance .
ICE chief wants smuggling charges on leaders of sanctuary cities Deportations in LA are @ @ @ @ @ @ @ taken in is down 50 % Unshackling ICE – told that they can take action against ALL illegal immigrants – increasing presence in sanctuary cities US kills 150 ISIS terrorists in Syria airstrike during government shutdown ISIS has lost 98 percent of its territory – due to Trump admin Pentagon Announces First-Ever Audit of the Department of Defense Mattis sees need for new DOD space programs Mattis vows US support for Ukraine against Russian ‘ aggression ’ U.S. Cyber Command will be elevated to a “ Unified Combatant Command ” Mattis decides to @ @ @ @ @ @ @ fund Mattis : ‘ Annihilation Tactics ’ Being Used Against ISIS US , Gulf countries form new group : ‘ TFTC ’ to stem flow of terror financing ISIS leader ‘ admits DEFEAT in Iraq and orders militants to flee Mattis Gives White House Tentative Plan for Rapid Defeat of ISIS James Mattis threatens to ‘ moderate ’ US backing for Nato over budgets More than 1,000 arrests in sex trafficking operation Four charged with leaks from Trump administration The Department of Justice Stands by Texas ’ s Voter ID Law Charges : @ @ @ @ @ @ @ US AG Sessions is bringing back the harsher sentences for drug dealers DHS is planning on denying green cards to legal immigrants if they receive federal or state aid Trump takes ‘ shackles ’ off ICE , which is slapping them on immigrants who thought they were safe

As of September 2018
Almost 4 million jobs created since election.
More Americans are now employed than ever recorded before in our history.
We have created more than 400,000 manufacturing jobs since my election.
Manufacturing jobs growing at the fastest rate in more than THREE DECADES.
Economic growth last quarter hit 4.2 percent.
New unemployment claims recently hit a 49-year low.
Median household income has hit highest level ever recorded.
African-American unemployment has recently achieved the lowest rate ever recorded.
Hispanic-American unemployment is at the lowest rate ever recorded.
Asian-American unemployment recently achieved the lowest rate ever recorded.
Women’s unemployment recently reached the lowest rate in 65 years.
Youth unemployment has recently hit the lowest rate in nearly half a century.
Lowest unemployment rate ever recorded for Americans without a high school diploma.
Under my Administration, veterans’ unemployment recently reached its lowest rate in nearly 20 years.
Almost 3.9 million Americans have been lifted off food stamps since the election.
The Pledge to America’s Workers has resulted in employers committing to train more than 4 million Americans. We are committed to VOCATIONAL education.
95 percent of U.S. manufacturers are optimistic about the future—the highest ever.
Retail sales surged last month, up another 6 percent over last year.
Signed the biggest package of tax cuts and reforms in history. After tax cuts, over $300 billion poured back in to the U.S. in the first quarter alone.
As a result of our tax bill, small businesses will have the lowest top marginal tax rate in more than 80 years.
Helped win U.S. bid for the 2028 Summer Olympics in Los Angeles.
Helped win U.S.-Mexico-Canada’s united bid for 2026 World Cup.
Opened ANWR and approved Keystone XL and Dakota Access Pipelines.
Record number of regulations eliminated.
Enacted regulatory relief for community banks and credit unions.
Obamacare individual mandate penalty GONE.
My Administration is providing more affordable healthcare options for Americans through association health plans and short-term duration plans.
Last month, the FDA approved more affordable generic drugs than ever before in history. And thanks to our efforts, many drug companies are freezing or reversing planned price increases.
We reformed the Medicare program to stop hospitals from overcharging low-income seniors on their drugs—saving seniors hundreds of millions of dollars this year alone.
Signed Right-To-Try legislation.
Secured $6 billion in NEW funding to fight the opioid epidemic.
We have reduced high-dose opioid prescriptions by 16 percent during my first year in office.
Signed VA Choice Act and VA Accountability Act, expanded VA telehealth services, walk-in-clinics, and same-day urgent primary and mental health care.
Increased our coal exports by 60 percent; U.S. oil production recently reached all-time high.
United States is a net natural gas exporter for the first time since 1957.
Withdrew the United States from the job-killing Paris Climate Accord.
Cancelled the illegal, anti-coal, so-called Clean Power Plan.
Secured record $700 billion in military funding; $716 billion next year.
NATO allies are spending $69 billion more on defense since 2016.
Process has begun to make the Space Force the 6th branch of the Armed Forces.
Confirmed more circuit court judges than any other new administration.
Confirmed Supreme Court Justice Neil Gorsuch and nominated Judge Brett Kavanaugh.
Withdrew from the horrible, one-sided Iran Deal.
Moved U.S. Embassy to Jerusalem.
Protecting Americans from terrorists with the Travel Ban, upheld by Supreme Court.
Issued Executive Order to keep open Guantanamo Bay.
Concluded a historic U.S.-Mexico Trade Deal to replace NAFTA. And negotiations with Canada are underway as we speak.
Reached a breakthrough agreement with the E.U. to increase U.S. exports.
Imposed tariffs on foreign steel and aluminum to protect our national security.
Imposed tariffs on China in response to China’s forced technology transfer, intellectual property theft, and their chronically abusive trade practices.
Net exports are on track to increase by $59 billion this year.
Improved vetting and screening for refugees, and switched focus to overseas resettlement.
We have begun BUILDING THE WALL. Republicans want STRONG BORDERS and NO CRIME. Democrats want OPEN BORDERS which equals MASSIVE CRIME.
www.whitehouse.gov/trump-administration-accomplishments/
But wait, there’s more!
Trump signs historic USMCA trade agreement
Trump Creates New Position Dedicated to Fighting Human Trafficking
Trump signs law giving Veterans smoother path to STEM careers
Senate confirms Trump’s 170th Federal Judge with even more to come
Trump signs bill restoring funding for Historically Black Colleges and Universities
Trump signs bill that makes Extreme Animal Cruelty a Felony
Trump signs executive order protecting Medicare
Trump Signs Bill Protecting Disability Payments for Veterans Who Declare Bankruptcy
Trump signs 9/11 Victims Compensation Fund into law
Trump signs bill to fund Autism CARES Act
Trump meets Kim Jong Un at DMZ and becomes first sitting US President to enter North Korea
Trump signs measure aimed at Preventing Veteran Suicides
Trump signs Major public lands Conservation bill into law
Trump signs into law Genocide Prevention Act
Trump signs legislation enhancing US Leadership in Indo Pacific region
President Trump signs Ashanti Alert Act into law
Trump Signs $867B Bipartisan Farm Bill with Welfare Reform Work Requirements
Trump Signs Law Punishing Chinese Officials Who Restrict Access to Tibet
Production of Hemp to become Legal in all 50 States with Farm Bill passage
Trump Limits Asylum Migrants must come in Legally
Trump Signs New Hezbollah Sanctions Into Law
Trump signs Opioids Law at White House event
Trump signs bipartisan Water Infrastructure spending law
Trump signs the Music Modernization Act, the biggest change to copyright law in decades
Trump signs bills to Help Patients stop overpaying for Medicine
Trump signs law ending Gag Orders against Pharmacists sharing Money Saving information
Trump signs bill requiring Airports to provide spaces for Breastfeeding Moms
Trump signs Karis Law on the 50th Anniversary of 911
Trump signs order to keep Guantanamo Military Prison open
Trump signs proclamation directing troops to secure border
President Trump and Chairman Kim Jong-un sign ‘important
document’ at Singapore summit
Trump signs law giving Border Patrol better Fentanyl detection tools
Trump signs law expanding Hate Crime protections to Religious Institutions
Trump signs technical education bill into law
Trump signs law to expand Childhood Cancer Research
Trump signs bill easing U.S. bank rules into law
TRUMP SIGNS LAW FIGHTING SEX-TRAFFICKING
Trump Cuts aid to Palestine
Trump signs law creating national historic park for Martin Luther King Jr.
Trump signs into law U.S. government ban on Kaspersky Lab software
Trump signs Russia sanctions bill into law
Donald Trump signs law aimed at cutting abortion funding
President Trump signs law declaring National Vietnam War Veterans Day
Trump Signs 3 Executive Actions on Crime Against Police, Drug Cartels
TRUMP SIGNS NATIONAL DEFENSE BILL INTO LAW
Trump signs Space policy directive
Trump signs First Step Act criminal justice reform into law
Trump signs Historic USMCA trade agreement replacing NAFTA
President Trump secures release of Pastor Brunson from Turkey
President Trump Approval Rating at 51 Percent
Justice Kavanaugh SWORN IN to Supreme Court
Trump Shrinks Government by 16000 Jobs since elected
US Cuts 300 Million In Aid To Pakistan
Trump Cut Off 200 Million in Aid to Palestinians
Trump ends 230 Million Dollar Rebuilding Payments to Syria
Trump has our soldiers remains returned home from Korean War
Trump signs Right to Try drug bill
US Embassy moved to Jerusalem by President Donald J Trump
Trump secures release of American Prisoners from North Korea
Trump Negotiates Peace between North and South Korea
Trump Signs Order Calling for Work Requirements for Welfare Programs
HISTORIC: Trump Nominates First Woman for Head of CIA
Feds collect record taxes in first month under Trump’s tax cuts; runs surplus in January
Trump signs sweeping two-year budget deal – MILITARY FUNDED
Trump proposes biggest civil service change in 40 years – ‘Hire the best and fire the worst’
Trump signs bipartisan bill to combat synthetic opioids
Trump Shrinks Federal Bureaucracy by 16000
President Trump set a record for lifetime appointed judges in 2017
Trump Signed 96 Laws In 2017
Trump Administration Set to Roll Back $900 Million in Obama-Era Offshore Drilling Regulations
Individual Mandate of Obamacare REPEALED
Senate Passes Historic Sweeping Tax Reform
Climate Change REMOVED from ‘Threat List’
Trump Admin is a Deregulation Machine: Eliminating 22:1
Trump signs $700 billion defense bill, gives troops largest pay raise in 7 years
New Space Policy Directive Calls for Human Expansion Across Solar System
Trump Declares Jerusalem the Capital of Israel
Senate Passes Sweeping Tax Reform – 20% Corporate rate – Largest in 31 Years.
Trump Shuts Down CIA funding of Syrian Rebels
House Passes Tax Bill in Major Step Toward Overhaul
Senate Passes Budget Resolution Clearing the Way to pass Tax Reform with a Simple Majority
Trump’s HHS defines life as beginning at conception
President Trump Declassifies and Releases JFK Files
Iran Deal: DECERTIFIED
Four Months into FY 2018, Refugee Admissions Plunge to Lowest Level in 15 Years
US increases security screening measures for vetting refugees
US Delays Payment to UN for Palestinians
US Suspends $2 BILLION in security assistance to Pakistan
Global Magnitsky Act Signed: Targeting Global Corruption and Human Rights Abuse
North Korea Designated as ‘State Sponor of Terrorism’
United States Announces a New Strategy on Iran
Trump Administration Announces ‘Extreme Vetting’ Plans
Trump cuts Obama’s refugee target in half, takes more Christians than Muslims
Trump: ‘We are stopping cold the attacks on Judeo-Christian values’
Trump administration abandons the Obama-era clean power plan aimed at reducing global warming
School Choice tops the list of Priorities U.S. Education Department Grants
Trump Signs Healthcare Order, Expands Choice and Access through associations
US and Israel withdraw from UNESCO citing “anti-Israel bias”
Trump has written 46 Executive Orders
Treasury Deparment to target companies doing business with North Korea
Trump has signed 53 bills into law
New Order Indefinitely Bars Almost All Travel From Seven Countries
UN Security Council unanimously steps up sanctions against North Korea
Fewest Monthly Refugee Arrivals in August Since 2002
Trump to stop travel from countries that refuse to help Homeland Security
America has withdrawn almost $300 million in foreign aid to Egypt
Trump Signs Order Rolling Back Environmental Rules on Infrastructure
11,000 government jobs slashed under Trump – downsizing government
UN Security Council unanimously imposed new sanctions on North Korea
Senate confirms 65 Trump nominees for various positions
U.S. Small Business Administration opens assistance center
800 Obama regulations cut – Saved over $200 billion
EPA’s Pruitt moves to roll back over 30 environmental regulations in record time
Cut the White House budget – Saved taxpayers $22 million
Haley Tells Congress US Assuming More Assertive Role at UN
Trump’s EPA To Repeal Obama’s ‘Waters Of The US’ Rule
Eliminated 1200 man hours of wasteful paperwork requirements including Y2K preparedness
President Trump Announces “Massive Permit Reform” Push
Trump Lays Out Plan to Privatize Air Traffic Control System
Statement by President Trump on the Paris Climate Accord
Treasury to call for rolling back banking regulations
Trump orders a Voter Fraud Commission to investigate 2016 election
Fired corrupt and incompetent FBI Director James Comey
HHS to Rescind Birth Control Mandate in Obamacare
Appointed conservative Neil Gorsuch to the Supreme Court
Ben Carson Finds $500 Billion In Errors during Audit of Obama HUD
President Trump’s executive order will undo Obama’s Clean Power Plan rule
U.S. Will have Free but Fair and Balanced Trade: Mnuchin
Executive order to reduce operating costs of the Federal Government
Fired all 46 attorney generals hired by Obama
Tillerson to shutter war crimes focused State Dept. office: report
Rex Tillerson, Mediating Gulf Dispute, Signs Antiterrorism Pact With Qatar
Canceled Obama Era special immigration program for foreign entrepreneurs
Critical milestone in the global fight against ISIS
Tillerson to back up Trump efforts to bolster Eastern Europe against Russia
Tillerson Tightens Limits on Filling State Department Jobs
Report: Trump plans to cut foreign aid, merge State and USAID
US to make at least $285m cut to UN budget
Tillerson on North Korea: Military action is ‘an option’
It’s a bloodbath at the State Department
Purging the State Department of Obama loyalists
Fixing lobbying laws – 5 year lobbying ban on White House officials
Put a regulatory freeze on all federal agencies
Cutting regulations in government agencies
And More
Job Market Continues to Crush Expectations in 2020
Trump Secures Historic Phase One Trade Agreement with China
US Economy Added 266,000 New Jobs in November smashing expectations
Trump signs Agriculture and Digitial Trade agreements with Japan
African-American Unemployment Rate Hits New All Time Lows
U.S. Unemployment Rate Falls to 50-Year Low; Trump Economy adding over 6.4 million jobs
US Economy Added 164,000 New Jobs in July; Wages increased 3.2 percent
Record 157,005,000 Employed; 19th Record of Trump Era
Boom! America Created 224,000 Jobs in June!
Best Economic Optimism in 16 years
480,000 Manufacturing Jobs added since President Trump’s election
US job openings rise outnumber the unemployed by 1 million
Economic Growth Has Reached 3 Percent for the First Time in More than a Decade
Opportunity Zones A New Dawn for Economic Opportunity
Unemployment Rate Falls to Lowest Level in Nearly 50 Years
Proclamation on Adjusting Imports of Steel into the United States
LARGEST DECLINE IN DRUG PRICES IN NEARLY 50 YEARS
Trump Policies Keep Economic Boom Going As Job Gains of 304000 Surpass Expectations
MORE AMERICANS WORKING NOW THAN EVER BEFORE IN OUR HISTORY
250K JOBS ADDED IN OCTOBER
Manufacturing Confidence at an ALL TIME HIGH
Construction Jobs up more than 300K compared to last year
Food Stamp usage declines for 8 straight months
Middle Class income rises to HIGHEST on record
Consumer Confidence 18 YEAR HIGH
America is now the worlds largest oil producer
Fastest growing pace in 14 years for manufacturers
BLACK UNEMPLOYMENT RECORD LOW
Jobless claims lowest level since 1969
Trump secures 2026 World Cup for the USA
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Consumer Confidence Highest in 18 years
Black Business Ownership Under Trump JUMPS 400 PERCENT in ONE YEAR
Youth Unemployment Hits 52 Year Low
Black Support for Trump DOUBLES to 29 percent
RECORD Number of Employed – 63 Percent labor participation
Worker pay rate hits highest level since 2008
Black and Hispanic Unemployment rates hit record low in April
Business Investments up 39 Percent Due to Tax Cuts
Food Stamp Usage Drops Half Million in Single Month
Highest Ever Manufacturer Optimism over 94 Percent
Unemployment claims have fallen to a 45-year low
Trump Economy Explodes Record Number of Americans Employed Stocks Soar
FEB JOBS BLOWOUT 313K
GREAT AGAIN Household Net Worth Pushes Further Into Record Territory
U.S. Consumer Confidence Is at 17-Year High
US homebuilding permits soar to highest level since 2007
Economy to grow at 5.4% rate in first quarter
Roaring: Economic Optimism Index hits 13-year high, credit to tax cuts
U.S. jobless claims drop to near 45-year low
Wages jump to highest level since 2009 – up 2.9%
U.S. Oil Production Tops 10 Million Barrels A Day, First Time Since 1970
Trump Decreases Debt to GDP Ratio – First Time in Over 50 Years!
Jobless claims drop to lowest level in nearly 45 years
Apple to Invest $350 BILLION in US citing Trump Tax Plan
Utilities cutting rates, cite benefits of Trump tax reform
Over 100 companies giving ‘Trump Bonuses’ after tax victory
Black unemployment rate falls to record low
Trump adds 184,000 manufacturing jobs and continues growth trend
Manufacturing in the U.S. Just Accelerated to Its Best Year Since 2004
Trump Signs Korean Trade Deal
Trump Blocks Chinese Purchase of Qualcomm due to National Security
TRUMP SIGNS TARIFF ORDER ON STEEL AND ALUMINUM
Trump Slaps 30% Tariffs on Solar Panels imported from China
Japan Freezes North Korea’s Assets after Trump’s Visit
U.S. Trade Deficit falls to 11-month low
Trump Fights for ‘America First’ as 4th Round of NAFTA Negotiations End
Crude Oil Shipment to India Highlights Expanding Energy Partnership
Trump Blocks China from buying Semi-Conductor company, Lattice
Crude oil shipment from Texas opens new vistas in India-U.S. ties
Argentina agrees to allow first U.S. pork imports in 25 years
Trump orders probe of China’s intellectual property practices
New memorandum to protect American IPs from China
Potentially save Billions of dollars and millions in jobs
Coal exports up 60%
China opens rice market for US exports for first time ever
U.S. makes final finding rebar exports from Taiwan
Renegotiating NAFTA with Canada and Mexico in order to make better trade deals
United States and Mexico finalize sugar trade deal
First U.S. Natural Gas Shipped to Poland
Signed an Arms Deal worth more than $350 billion and various other investment agreements with Saudi Arabia
China, U.S. reach trade agreement on beef, poultry and natural gas
Trump orders a study on abuses of U.S. trade agreements – WTO
Trump slaps tariffs on Canadian lumber imports
Increased tariffs on Canadian lumber by 20% (worth $1 billion)
China buys more U.S. coal
Trans Pacific Partnership (TPP) TERMINATED
Nikki Haley negotiates $285M cut in ‘bloated’ UN budget
WIC Welfare Participation Hits 17-Year Low
U.S. home sales hit 11-year high
Manufacturing Optimism Reaches Another All-Time High – 94.6%
Economy adds 228K jobs in November
Mining up 28.6% – Leads the Nation in Growth
Broadcom will move back to U.S. — and bring tax money with it
US private sector added 235,000 jobs in Oct – Beats Expectations
Consumer confidence highest level since December 2000
Q3 GDP at 3 Percent – Beats Expectations
Ivanka Trump creates new World Bank initiative to foster Entrepreneurship among Women
Consumer Sentiment in U.S. Surges to 13-Year High
63.1%: Participation Rate Reaches Trump-Era High
Unemployment down to 4.2, wages rise .5%
New entrants from outside the labor market made up 3.2
U.S. Factories Expanding at 13 Year high
Dow posting first eight-quarter winning streak in 20 years
Home builder confidence at 12-year high
Manufacturer confidence at a 20-year high
Tech giants pledge millions to Trump initiative
Q2 GDP up 3.1%
Sales of new U.S. homes rebounded in August
Federal Reserve: Household Wealth in America at record high of $1.7 trillion – Rising property values and Financial gain
Surging stock market powers U.S. wealth to $96.2 trillion
Food Stamp Usage Has Fallen Every Month Under Trump
Median Incomes Climbing for First Time Since 2007
Trump has signed a $15 billion relief package for Texas in the wake of Hurricane Harvey
Jobless claims drop to 240,000 – hottest streak in 43 years
U.S. Consumer Sentiment Rose in August
Recovery Is Finally Trickling Down to Least-Educated Workers
U.S. Job Satisfaction Highest Level Since 2005
American manufacturing expanded in August at fastest pace in six years
Donald Trump Ends Obama Effort to Waive Work Requirements for Welfare
Consumer confidence strengthens in August, second-highest level since late 2000
President Trump Cuts More US Debt for a Longer Period of Time Than Any President
Pennsylvania coal company to open a SECOND coal mine
Summer Youth Unemployment Falls, Level Since 1969
In Trump era, American corporations are seeing their best earnings in 13 years
US trade deficit narrows as exports hit 2-1/2-year high
Milestone for Trump: 1 million new jobs in six months
National unemployment rate at 4.3% (lowest it’s been in 16 years)
13,000 jobs being created in WI – largest job announcement in WI history (Foxconn)
Black Unemployment, Lowest Level in 17 Years
Gas prices at a 12-year low
Some states are experiencing their lowest unemployment rates in their histories
Trump Announces $200 Million in Apprenticeship Funding
U.S. has record 6 million job openings, 6.8 million Americans are looking for jobs
CEO confidence highest since 2014
U.S. jobless rate falls to lowest level in 16 years
Trump signs bills that helps Veterans and Police officers by giving them Priority and Training
Government spending as percentage of GDP down
1000s of jobs being created through pact with Saudi Arabia
Executive Order on the Establishment of the American Technology Council
USA’s small business confidence is spurring a hiring and spending spree
Alibaba Takes First Step To Fulfilling Jack Ma And President Trump’s ‘One Million U.S. Jobs’ Promise
Slashing job-killing regulations left and right
Creating thousands of more jobs for immigration officers and border patrol
Signed a resolution encouraging women in entrepreneurship and STEM
Executive ordered all federal agencies to create task forces to cut regulations that hurt the economy
US Manufacturing Index at a 33-year high
Coal Miners are WINNING. Cut Regulations/Create Jobs/New Plant
US Economic Confidence Surges To Highest Level Ever Recorded By Gallup
And Yet More!
Trump secures critical funding for the Border Wall
The United States Has Brought the Leader of ISIS to Justice
Executive Order on Modernizing Sanctions to Combat Terrorism
Orders Additional Measures to Enhance Border Security
The United States has Liberated All ISIS-Controlled Territory
Trump signs order directing an increase in Cyber Security
Combating High Nonimmigrant Overstay Rates
ICE arrests 364 criminal aliens and immigration violators in enforcement surge
US signs proclamation against Female Genital Mutilation and Cutting
DHS is planning on denying green cards to legal immigrants if they receive federal or state aid
ICE raid hits 77 businesses in Northern California
End of Year Report: Deportations up 40% – Historically Low Crossings
DHS: Announces New Procedures for Refugee Admissions
Deportations Of Noncriminals Rise As ICE Casts Wider Net
DACA Renewals Drop 21%
30-foot concrete slab prototypes erected along border
ICE has conducted a MASSIVE raid on sanctuary cities this week – 498 illegal immigrants arrested
Trump has updated the travel ban to includes 8 more countries
Crossing The Border Illegally Is Harder Than It’s Been In 50 Years
Withholding Federal Funds from Sanctuary Cities – Must allow ICE access to jails and notify before release
VA announces Access Standards for Health Care
Trump signs VA Mission Act
Enhancing Veteran Care Act
VA seeks partnerships to build and improve health-care facilities
VA announces Veterans Coordinated Access & Rewarding Experiences Act
VA, Ginnie Mae create task force to address mortgage refinancing issues
Telemedicine: An important tool for Veterans health
Trump Signs Bill to Streamline VA Disability Claims Appeals Process
Trump signs ‘Forever GI Bill,’ boosting aid to student vets
VA expands Tele-Health access
VA fires more than 500 feds under Trump, even before new accountability law
Trump signs VA accountability act into law, promises better care for veterans
Trump Administration Streamlines Veteran Medical Records
White House to launch veterans’ complaint hotline
Accountability and Whistleblower Protection at VA
$1.6 billion down payment to start building the wall
Trump cuts off visas for countries that refuse deported immigrants
Rescinded DACA
Extreme Vetting’ for some green cards
Deportation orders up 31% nationwide under Trump
Deportation Orders Up 30%
Miami has removed its “sanctuary” status
ICE raids targeting families net 650 arrests
Denver To ICE: Stop Arresting Illegal Immigrants At Courthouse. ICE To Denver: Not A Chance.
17 Texas sheriffs approved to partner w/ICE
ICE chief wants smuggling charges on leaders of sanctuary cities
New crackdown on ‘so-called’ sanctuary cities
Raids to target teenaged suspected gang members
Army Corps starts pre-construction work on border wall
Deportations in LA are up 60% alone
80% jump in illegal targets
Feds taking over Texas National Guard mission along border
Border Patrol Morale at Highest Level
Christian refugees admitted now outnumber Muslim refugees admitted
Bill allocates $1.6 billion for Trump’s border wall
ICE crackdown scaring some families back to Mexico
Kate’s Law – harsher penalties for previously deported criminals – Passes House
Number of refugees taken in is down 50%
Rescinded DAPA
Workers install final panel in upgrade of border fence
Raids turn Oregon city into ghost town
Ending “catch and release” immigration policy
Silicon Valley Staffing Firm Charged in H1B Fraud
Unshackling ICE – told that they can take action against ALL illegal immigrants – increasing presence in sanctuary cities
Trump signs new defense policy bill that rebuilds military, boosts troop pay
Top 5 ISIS Leaders Captured
Trump signs order to keep Guantanamo Bay prison open
US kills 150 ISIS terrorists in Syria airstrike during government shutdown
ISIS has lost 98 percent of its territory – due to Trump admin
Pentagon Announces First-Ever Audit of the Department of Defense
U.S.-Backed Forces Capture Raqqa from ISIS
ISIS facing imminent collapse in Syria’s Raqqa
Gen. Mattis breaks down New Afghanistan Strategy
US-backed fighters ‘seize 80% of Raqqa from Islamic State’
Mattis sees need for new DOD space programs
Trump calls for Increased Military: Senate passes $700 billion defense bill
Mattis seeks Indian role in Afghanistan
Mattis vows US support for Ukraine against Russian ‘aggression’
U.S. Cyber Command will be elevated to a “Unified Combatant Command”
Mattis decides to withhold U.S. cash from key Pakistani military fund
Mosul liberated from ISIS
Mattis: ‘Annihilation Tactics’ Being Used Against ISIS
US, Gulf countries form new group: ‘TFTC’ to stem flow of terror financing
NATO weighs new ‘Counter Terrorism Post’ following Trump’s demands
ISIS leader ‘admits DEFEAT in Iraq and orders militants to flee
Mattis Gives White House Tentative Plan for Rapid Defeat of ISIS
James Mattis threatens to ‘moderate’ US backing for Nato over budgets
Trump DOJ Sues California For Interference With Immigration Enforcement
DOJ Halts Obama’s Operation Chokepoint, Which Targeted Firearm Dealers
More than 1,000 arrests in sex trafficking operation
Four charged with leaks from Trump administration
Jeff Sessions announces new crackdown on ‘so-called’ sanctuary cities
Justice Department announces takedown of AlphaBay, the largest dark web market
Sessions’s New Civil-Forfeiture Rules
400 medical professionals charged in largest health care fraud takedown
The Department of Justice Stands by Texas’s Voter ID Law
Charges: Sex traffickers took hundreds from Thailand to US
AG Sessions is bringing back the harsher sentences for drug dealers
Sex Trafficking Arrests Soar Under Trump; MSM Completely Ignores
DHS is planning on denying green cards to legal immigrants if they receive federal or state aid
Trump takes ‘shackles’ off ICE, which is slapping them on immigrants who thought they were safe
ICE raid hits 77 businesses in Northern California
End of Year Report: Deportations up 40% – Historically Low Crossings
DHS: Announces New Procedures for Refugee Admissions
Deportations Of Noncriminals Rise As ICE Casts Wider Net
h/t CrsCrpr


investmentwatchblog--2020-04-30--Deutsche Bank Introduces Negative Interest Rates For Retail Deposits Over 100,000 Euros!

( by Half Dollar ) If the Fed ’ s full display of financial repression wasn ’ t enough for one day , let ’ s kick-it up a notch with everybody ’ s favorite soon-to-fail-but-never-does bank , Deutsche Bank .
Frankfurt Deutsche Bank will soon introduce negative interest rates for large deposits in its retail banking business and that of its subsidiary Postbank .
“ The ongoing pressure from negative interest rates makes it necessary for Deutsche Bank to charge custody fees for new contracts for high deposits beyond an allowance of EUR 100,000 per account from May 18 @ @ @ @ @ @ @ the institute told Handelsblatt on request .
The custody fee should amount to 0.5 percent and thus corresponds to the fees that the European Central Bank ( ECB ) charges banks for money parked there .
“ This helps us on the earnings side , but above all it helps to prevent further inflows of particularly high deposits that cost us money , ” wrote Manfred Knof , head of the bank ’ s German private customer business , to his employees .
This applies “ especially in the event that other banks @ @ @ @ @ @ @ are looking for an alternative for their deposits with us ” .
So far , Deutsche Bank has only charged large corporate clients and very wealthy private clients negative interest on large deposits .
The new regulation for high private customer deposits of more than 100,000 euros applies “ exclusively for new contracts ” in the private customer business .
“ Existing account contracts are not affected , ” said a spokesman for the bank .
Customers with lower deposits were also spared .
“ In the broad customer business with relatively low @ @ @ @ @ @ @ on custody fees for deposits to customers.
” Gold may not pay any interest , but no interest is better than negative interest ( -0.5 % ) on fiat currency which is rapidly being debased .
Moreover , if one believes that governments and central banks have been actively suppressing the prices of gold & silver , then the capital gains are about to be spectacular , above and beyond any wealth preservation or wealth insurance the precious metals provide .
Egon von Greyerz and I discussed this very thing recently :

(by Half Dollar) If the Fed’s full display of financial repression wasn’t enough for one day, let’s kick-it up a notch with everybody’s favorite soon-to-fail-but-never-does bank, Deutsche Bank.
From Handelsblatt (translated by Google):
Frankfurt Deutsche Bank will soon introduce negative interest rates for large deposits in its retail banking business and that of its subsidiary Postbank. “The ongoing pressure from negative interest rates makes it necessary for Deutsche Bank to charge custody fees for new contracts for high deposits beyond an allowance of EUR 100,000 per account from May 18, 2020,” a spokesman for the institute told Handelsblatt on request. The custody fee should amount to 0.5 percent and thus corresponds to the fees that the European Central Bank (ECB) charges banks for money parked there.
“This helps us on the earnings side, but above all it helps to prevent further inflows of particularly high deposits that cost us money,” wrote Manfred Knof, head of the bank’s German private customer business, to his employees. This applies “especially in the event that other banks further adjust their conditions and their customers are looking for an alternative for their deposits with us”.
So far, Deutsche Bank has only charged large corporate clients and very wealthy private clients negative interest on large deposits. The new regulation for high private customer deposits of more than 100,000 euros applies “exclusively for new contracts” in the private customer business. “Existing account contracts are not affected,” said a spokesman for the bank. Customers with lower deposits were also spared. “In the broad customer business with relatively low deposits, Deutsche Bank does not pass on custody fees for deposits to customers.”
Gold may not pay any interest, but no interest is better than negative interest (-0.5%) on fiat currency which is rapidly being debased.
We are primarily funded by readers. Please subscribe and donate to support us!
Moreover, if one believes that governments and central banks have been actively suppressing the prices of gold & silver, then the capital gains are about to be spectacular, above and beyond any wealth preservation or wealth insurance the precious metals provide.
Egon von Greyerz and I discussed this very thing recently:
Views: Views:
Developing…


investmentwatchblog--2020-04-30--Venezuela Goes From Bad To Worse To Mad Max: Roving Lawlessness And Gasoline Shortages Now, Mass Sta

Venezuela Goes From Bad To Worse To Mad Max: Roving Lawlessness And Gasoline Shortages Now, Mass Starvation Next

by J.G .
Martinez via The Organic Prepper The Fuel Shortage in Venezuela Will Lead to Starvation Dear readers , those who already know me are aware I used to write about confirmed facts we all care about as preppers .
At this point in my life I hardly can be considered a prepper , though .
A survivor ?
Sure .
I ’ ve been in much better conditions ( as I have mentioned earlier in previous articles ) than other migrants .
Always had a roof and something to eat , and could buy my kiddo a good @ @ @ @ @ @ @ an ice cream , cookies and the occasional chocolate when he asked for it .
Maybe I have not eaten a grilled steak every two days , but I haven ’ t starved .
Have I seen myself rationing ?
Sure .
At least I have something to ration .
I know I have been a little…disperse .
I have realized that facing with a reality you had only had imagined in your worst scenario fantasies , is harder than I thought .
That´s why I´ve been trying to recover myself , and @ @ @ @ @ @ @ of death far away from my homeland .
This said , I received a few audios about a situation that is presenting given the scarcity of gasoline that has already impacted the food supply .
The person sending me these materials is reliable , and informed me that indeed that happened .
The local majors , governors , and uniforms have confiscated the fuel , and they sell them in dollars , for their own personal profit .
This way they are bypassing tax controls , impeding the audit , and pocketing all @ @ @ @ @ @ @ trafficking with the fuel , and this brings along two consequences .
One , crops were lost .
Not that they care , of course .
The Chinese need Venezuela with the least amount of people possible .
They want our land for themselves and this is evident .
Almost one million square km , plenty of water , and mineral resources with an extremely low-density population ?
That leaving outside the extremely privilege its position means .
This geopolitical comment is because I need the world to know exactly what is happening @ @ @ @ @ @ @ ” poorly .
This was imposed .
If we didn ’ t elect Hugo , the result would have been just another coup d ’ etat .
And another , until thugs could control the country by force like it is happening now .
The other consequence is much worse .
No crops , no food .
People will die by the thousands unless extreme measures are taken .
And I mean really extreme .
We don ’ t deserve this .
People are getting fed up .
What has happened is , @ @ @ @ @ @ @ in the West of Venezuela ( relatively close to the major refineries in South America , which are not producing even a drop of fuel ) , the fuel trafficking was so shameless that the entire town ( and I hope this is will be an increasing trend ) kicked the heck ( literally ! )
out of the major and one middle-low rank uniforms , who is in the hospital right now .
This collective beating means that crowds are starting to walk on the loose .
This is an isolated case @ @ @ @ @ @ @ even with the strongest of censorships .
They took out of the pockets of one of the uniforms the 300 $ he had made ( illegally ) selling gasoline in the middle of the night to the always existent privileged wealthy inhabitants .
Be no mistaken , this money is part of the laundering system they have turned the country in .
Selling gasoline to Colombian smugglers , they get CASH .
Huge amounts of it .
This cash is going to be stockpiled God knows where and for what reason .
In @ @ @ @ @ @ @ footage in my channel is taken from ) there was a massive protest when thousands of riders on all kinds of bikes ( mostly the low-income class , on those cheap Chinese bikes ) .
I ’ ve been in bike shows with many other riders but this was an aggressive , criminal-abundant pileup of guys on bikes .
Truly scary .
Never would consider getting close to such herd .
I ’ d prefer to face a zombie herd with a baseball bat that getting into one of those .
These are @ @ @ @ @ @ @ them pulls a gun , shoots , take a nice shiny bike , and gets out of dodge .
Nobody saw anything , there is no record of what happened .
I know how things are with this failure of a State we are now .
And this leads me to another situation that deserves careful thinking .
I ’ ve had to re-evaluate again our spot .
With the gasoline scarcity the only ones being able to travel some distance , quarantine or not , are the guys riding these bikes .
@ @ @ @ @ @ @ be enough for them to travel long distances .
Not all of them are thugs , sure .
But a respectable amount are , enough to make you trigger a red alert if a couple of men on one of these bikes gets suddenly in your way .
There are dirty cops that will have made previous arrangements .
They will have sometimes free passage because they work for someone high in the political sphere , more often than you can think of .
This makes me think that , under the situation @ @ @ @ @ @ @ close to a road is a safe bet .
I mean , my goal was to go with my kiddo and live peacefully in the mountains , until things settle down .
It seems that doing this without an arsenal at home would be not the best of the ideas until the house itself has been adequately remodeled .
I would like to remark on something .
Please don ’ t waste time .
Start prepping and keep prepping .
I always thought I would have more time to prep , but things @ @ @ @ @ @ @ need my house with minimal conditions , don ’ t even know how ruined it is , or if it has been looted or trespassed .
My family can not even go to check if everything is OK there because there is no fuel and town access is closed .
My old folks can not leave home , even when there is not one single case of the Chinese virus SARS/Cov2 in the entire state , 300 km around , one of the biggest states in the country .
Of course , this @ @ @ @ @ @ @ not being able to have a certain degree of mobility , provided you are already in your safe location under isolation makes you rely on your preps .
One of the main items I can say people should start stocking now is soap and detergent , for clothes , dishes , and personal hygiene .
If the industries producing them happens to be severely affected these products will disappear from the market .
Same as medical supplies like alcohol , disinfection products , and supplies .
I don´t mean just “ stockpile ” @ @ @ @ @ @ @ produce these items yourself as I have mentioned in previous articles .
It´s better to have a steady source of good homemade distilled alcohol than a huge stockpile and no means nor knowledge to produce it in the future .
We all are seeing how fragile the supply chain of our “ modern ” world is .
Thugs control the gasoline and diesel supply , and every product will see its price rising to levels so incredible that it´s inevitable the thin society fabric survives to such stress .
First rips are being @ @ @ @ @ @ @ , people are directing their violence to those directly responsible for the abuse .
On the other hand , people won´t fight back , just a small percentage with courage enough , but without weapons .
If that is going to change , I see the possibility , once despair has become epidemic .
Then , the last ( and unpredictable ) stage will be present : the civil war .
They are giving fuel for free just to the cars of the red elite , high-rank members of the party , “ @ @ @ @ @ @ @ ) , and ambulances .
This is not happening just in the cities .
It´s happening as well in the smaller towns .
Even worst because unarmed people can be controlled much easier by a gang of trained killers .
That is exactly what we are seeing there .
Cubans trained the most ductile ( and stoopid ) minds to spy , and made them become the snitches of those opposing some sort of violent resistance since the 2014 demonstrations .
Remember these thugs are the support of a very complex structure , @ @ @ @ @ @ @ could have prepared , indeed , but it would have required tons of resources .
It wasn´t impossible ( nor it is ) but a major change in my lifestyle was needed , and with a family over my shoulders , they needed some sort of stability back in those years .
Use the time you have wisely .
I am now in much better condition , indeed .
All of this “ free ” time ( I always have found something to do to earn a few bucks here and there using @ @ @ @ @ @ @ to download and gather information , make partnerships , design some devices that will be available to improve fellow preppers life , and see where my preps really failed badly .
Just for the record , one of the wiser choice ( maybe the only one I have had in a decade , to be honest ) was the diversification of my income .
Not depending on just one source has been the key , even in this quite difficult conditions : a foreign country , my health details here and there , @ @ @ @ @ @ @ all my former life going to the drain and finding myself broke when I had planned an early retirement…well , this is life , isn´t it ?
.
Thanks for your words , your encouragement , and stay safe .
Jose is an upper middle class professional .
He is a former worker of the oil state company with a Bachelor ’ s degree from one of the best national Universities .
He has a small 4 members family , plus two cats and a dog .
An old but in good shape @ @ @ @ @ @ @ house in a nice neighborhood , in a small but ( formerly ) prosperous city with two middle size malls .
Jose is a prepper and shares his eyewitness accounts and survival stories from the collapse of his beloved Venezuela .
Thanks to your help Jose has gotten his family out of Venezuela .
They are currently setting up a new life in another country .
Follow Jose on YouTube and gain access to his exclusive content on Patreon .
Donations : paypal.me/JoseM151 Editor ’ s Note : The featured image in this @ @ @ @ @ @ @ article , but rather , is there for education and informational purposes only , for the specific purpose of stimulating critical thinking .

by J.G. Martinez via The Organic Prepper
The Fuel Shortage in Venezuela Will Lead to Starvation
Dear readers, those who already know me are aware I used to write about confirmed facts we all care about as preppers. At this point in my life I hardly can be considered a prepper, though. A survivor? Sure. I’ve been in much better conditions (as I have mentioned earlier in previous articles) than other migrants. Always had a roof and something to eat, and could buy my kiddo a good meal every now and then and even an ice cream, cookies and the occasional chocolate when he asked for it. Maybe I have not eaten a grilled steak every two days, but I haven’t starved. Have I seen myself rationing? Sure. At least I have something to ration. I know I have been a little…disperse. I have realized that facing with a reality you had only had imagined in your worst scenario fantasies, is harder than I thought. That´s why I´ve been trying to recover myself, and getting used to the quite grim possibility of death far away from my homeland.
This said, I received a few audios about a situation that is presenting given the scarcity of gasoline that has already impacted the food supply. The person sending me these materials is reliable, and informed me that indeed that happened.
There’s a fuel shortage in Venezuela
The local majors, governors, and uniforms have confiscated the fuel, and they sell them in dollars, for their own personal profit. This way they are bypassing tax controls, impeding the audit, and pocketing all the money they collect. They are trafficking with the fuel, and this brings along two consequences.
One, crops were lost. Not that they care, of course. The Chinese need Venezuela with the least amount of people possible. They want our land for themselves and this is evident. Almost one million square km, plenty of water, and mineral resources with an extremely low-density population? That leaving outside the extremely privilege its position means.
This geopolitical comment is because I need the world to know exactly what is happening. We didn’t “choose” poorly. This was imposed. If we didn’t elect Hugo, the result would have been just another coup d’etat. And another, until thugs could control the country by force like it is happening now.
The other consequence is much worse. No crops, no food. People will die by the thousands unless extreme measures are taken. And I mean really extreme. We don’t deserve this.
People are getting fed up.
What has happened is, in one town in the Falcon state in the West of Venezuela (relatively close to the major refineries in South America, which are not producing even a drop of fuel), the fuel trafficking was so shameless that the entire town (and I hope this is will be an increasing trend) kicked the heck (literally!) out of the major and one middle-low rank uniforms, who is in the hospital right now. This collective beating means that crowds are starting to walk on the loose.
This is an isolated case, but this information spreads like wildfire even with the strongest of censorships. They took out of the pockets of one of the uniforms the 300$ he had made (illegally) selling gasoline in the middle of the night to the always existent privileged wealthy inhabitants. Be no mistaken, this money is part of the laundering system they have turned the country in. Selling gasoline to Colombian smugglers, they get CASH. Huge amounts of it. This cash is going to be stockpiled God knows where and for what reason.
In another town (the part where the footage in my channel is taken from) there was a massive protest when thousands of riders on all kinds of bikes (mostly the low-income class, on those cheap Chinese bikes). I’ve been in bike shows with many other riders but this was an aggressive, criminal-abundant pileup of guys on bikes. Truly scary. Never would consider getting close to such herd. I’d prefer to face a zombie herd with a baseball bat that getting into one of those. These are the kind of situations where one of them pulls a gun, shoots, take a nice shiny bike, and gets out of dodge. Nobody saw anything, there is no record of what happened. I know how things are with this failure of a State we are now.
And this leads me to another situation that deserves careful thinking. I’ve had to re-evaluate again our spot. With the gasoline scarcity the only ones being able to travel some distance, quarantine or not, are the guys riding these bikes. A few dollars spent in gasoline will be enough for them to travel long distances. Not all of them are thugs, sure. But a respectable amount are, enough to make you trigger a red alert if a couple of men on one of these bikes gets suddenly in your way. There are dirty cops that will have made previous arrangements. They will have sometimes free passage because they work for someone high in the political sphere, more often than you can think of.
This makes me think that, under the situation we are currently, not even being close to a road is a safe bet. I mean, my goal was to go with my kiddo and live peacefully in the mountains, until things settle down. It seems that doing this without an arsenal at home would be not the best of the ideas until the house itself has been adequately remodeled.
Don’t delay your preparations.
I would like to remark on something. Please don’t waste time. Start prepping and keep prepping. I always thought I would have more time to prep, but things happened too fast. Now that I need my house with minimal conditions, don’t even know how ruined it is, or if it has been looted or trespassed. My family cannot even go to check if everything is OK there because there is no fuel and town access is closed. My old folks cannot leave home, even when there is not one single case of the Chinese virus SARS/Cov2 in the entire state, 300 km around, one of the biggest states in the country.
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Of course, this entire situation is a total mess: not being able to have a certain degree of mobility, provided you are already in your safe location under isolation makes you rely on your preps. One of the main items I can say people should start stocking now is soap and detergent, for clothes, dishes, and personal hygiene. If the industries producing them happens to be severely affected these products will disappear from the market. Same as medical supplies like alcohol, disinfection products, and supplies. I don´t mean just “stockpile”, I mean to be able to produce these items yourself as I have mentioned in previous articles. It´s better to have a steady source of good homemade distilled alcohol than a huge stockpile and no means nor knowledge to produce it in the future.
We all are seeing how fragile the supply chain of our “modern” world is.
Thugs control the gasoline and diesel supply, and every product will see its price rising to levels so incredible that it´s inevitable the thin society fabric survives to such stress. First rips are being seen in Venezuela. Good thing is, people are directing their violence to those directly responsible for the abuse.
On the other hand, people won´t fight back, just a small percentage with courage enough, but without weapons. If that is going to change, I see the possibility, once despair has become epidemic. Then, the last (and unpredictable) stage will be present: the civil war.
They are giving fuel for free just to the cars of the red elite, high-rank members of the party, “official” vehicles (whatever this means), and ambulances.
This is not happening just in the cities. It´s happening as well in the smaller towns. Even worst because unarmed people can be controlled much easier by a gang of trained killers. That is exactly what we are seeing there. Cubans trained the most ductile (and stoopid) minds to spy, and made them become the snitches of those opposing some sort of violent resistance since the 2014 demonstrations.
Remember these thugs are the support of a very complex structure, involving narcos and Islamic terrorism. I could have prepared, indeed, but it would have required tons of resources. It wasn´t impossible (nor it is) but a major change in my lifestyle was needed, and with a family over my shoulders, they needed some sort of stability back in those years.
Use the time you have wisely.
I am now in much better condition, indeed. All of this “free” time (I always have found something to do to earn a few bucks here and there using the web) has been wisely used to download and gather information, make partnerships, design some devices that will be available to improve fellow preppers life, and see where my preps really failed badly.
Just for the record, one of the wiser choice (maybe the only one I have had in a decade, to be honest) was the diversification of my income. Not depending on just one source has been the key, even in this quite difficult conditions: a foreign country, my health details here and there, psychological impacts on my nerves, seeing all my former life going to the drain and finding myself broke when I had planned an early retirement…well, this is life, isn´t it?.
Thanks for your words, your encouragement, and stay safe.
We will prevail.
J.
About Jose
Jose is an upper middle class professional. He is a former worker of the oil state company with a Bachelor’s degree from one of the best national Universities. He has a small 4 members family, plus two cats and a dog. An old but in good shape SUV, a good 150 square meters house in a nice neighborhood, in a small but (formerly) prosperous city with two middle size malls. Jose is a prepper and shares his eyewitness accounts and survival stories from the collapse of his beloved Venezuela. Thanks to your help Jose has gotten his family out of Venezuela. They are currently setting up a new life in another country. Follow Jose on YouTube and gain access to his exclusive content on Patreon. Donations: paypal.me/JoseM151
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Editor’s Note: The featured image in this post is not directly related to this article, but rather, is there for education and informational purposes only, for the specific purpose of stimulating critical thinking.


investmentwatchblog--2020-04-30--Will Coronavirus Kill Or Embolden Neocon Foreign Policy And Plans For Global War?

Will a bankrupt nation suffering from a massive six trillion dollar bailout hangover lose its appetite for interventionism overseas ?
@ @ @ @ @ just the kind of “ Pearl Harbor event ” the neocons have long pined for @ @ @ @ @ war plans ?

by Ron Paul of Ron Paul Liberty Report
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Will a bankrupt nation suffering from a massive six trillion dollar bailout hangover lose its appetite for interventionism overseas? Or is the global coronavirus just the kind of “Pearl Harbor event” the neocons have long pined for to again launch their global war plans?


investmentwatchblog--2020-04-30--Bankruptcy is a Buy Signal with Nick Santiago (Ep. #24)

For more than 20 years , Master Trader Nick Santiago has been beating the markets .
He ’ s made some incredible calls along the way and now he ’ s looking to spread the word .
There ’ s no reason that the average trader should be coming up short .
So now we ’ ve started a daily show to bring you up to date on the latest market developments .
Nick will be sharing trades and concepts and discussing current trends .
Today we discuss : 1 .
Oil surging today .
Positive drug news from Gilead @ @ @ @ @ @ @ stock has been going back and forth .
Potential game changer .
Crude is a direct beneficiary if the economy picks up .
2 .
Earnings are pouring in .
last night Google ( Alphabet ) reported earnings that were better than expected and the stock is sharply higher today so far .
This is how the earnings season is going to be .
Its all about the market reaction , not the earnings numbers .
Tonight , Facebook , Microsoft and Qualcomm report after the close today .
3 .
Today , @ @ @ @ @ @ @ somewhat expected .
Right now markets are not expecting any positive news from the past .
It was already baked into the cake .
The charts don ’ t lie .
Dow is already up 450 .
4 .
REITS IYR is going higher according to Nick .
It ’ s trading around 76 and it could hit 85 .
It ’ s very diverse so it ’ s worth keeping track of and finding your particular sector .
5 .
Tech is looking very toppy .
It ’ s run up way @ @ @ @ @ @ @ run up during Coronavirus scare should be avoided .
Netflix ran up on binge watch rumors .
Now it ’ s peaked .
They ’ ll pull back for future investment .
Energy stocks are looking pretty good .
Exxon , Conoco .
Nick owns BP Calls .
Out of the money .
Out till October .
Pattern is right for major gains .
For more info , go to www.InTheMoneyStocks.com .
Click Here to Listen to the Audio

from Daily Market Wisdom with Nick Santiago
For more than 20 years, Master Trader Nick Santiago has been beating the markets. He’s made some incredible calls along the way and now he’s looking to spread the word. There’s no reason that the average trader should be coming up short. So now we’ve started a daily show to bring you up to date on the latest market developments. Nick will be sharing trades and concepts and discussing current trends. Today we discuss:
1. Oil surging today. Positive drug news from Gilead is helping the markets today. The stock has been going back and forth. Potential game changer. Crude is a direct beneficiary if the economy picks up.
2. Earnings are pouring in. last night Google (Alphabet) reported earnings that were better than expected and the stock is sharply higher today so far. This is how the earnings season is going to be. Its all about the market reaction, not the earnings numbers. Tonight, Facebook, Microsoft and Qualcomm report after the close today.
3. Today, Q1 GDP -4.8%, this was somewhat expected. Right now markets are not expecting any positive news from the past. It was already baked into the cake. The charts don’t lie. Dow is already up 450.
We are primarily funded by readers. Please subscribe and donate to support us!
4. REITS IYR is going higher according to Nick. It’s trading around 76 and it could hit 85. It’s very diverse so it’s worth keeping track of and finding your particular sector.
5. Tech is looking very toppy. It’s run up way too fast. The companies that have run up during Coronavirus scare should be avoided. Netflix ran up on binge watch rumors. Now it’s peaked. They’ll pull back for future investment. Energy stocks are looking pretty good. Exxon, Conoco. Nick owns BP Calls. Out of the money. Out till October. Pattern is right for major gains.
For more info, go to www.InTheMoneyStocks.com.
Click Here to Listen to the Audio


investmentwatchblog--2020-04-30--“It’s A Weapon For The US” – China Official Renews Calls To Dethrone The Dollar

Last year , we reported extensively on a push toward de-dollarization by countries like Russia and China and their desire to undermine the ability of the US to weaponize the dollar as a foreign policy tool .
Europe was even starting to push to dethrone the dollar as the reserve currency .
With the Federal Reserve running the dollar printing press at full speed and the US government expanding the national debt into the stratosphere , there are renewed calls for a currency to replace the dollar as the world reserve .
This week , Shanghai Gold Exchange ( SGE @ @ @ @ @ @ @ new super-sovereign currency to replace the greenback .
Wang said that the Fed ’ s monetary policy in response to COVID-19 would eventually tank the dollar even though the current crisis has triggered a scramble for greenbacks .
Peter Schiff has been predicting that the dollar is going to tank for quite some time .
It ’ s a matter of when , not if .
As the coronavirus crisis began to unfold and the Fed fired up the printing press , Peter said that with the central bank and government response to @ @ @ @ @ @ @ being the worst-case scenario to the most likely scenario .
Peter has also said he thinks people will eventually start dumping dollars .
Wang not only expressed concern about the long-term stability of the dollar ; he also echoed an oft-repeated criticism of the US controlling the reserve currency .
America uses the privilege as a foreign policy tool .
For instance , in 2014 and 2015 , the blocked several Russian banks from SWIFT as relations between the two countries deteriorated .
Last fall , the US threatened to lock China out @ @ @ @ @ @ @ ’ t follow UN sanctions on North Korea .
Wang said this needs to end .
A gold standard that prevented central banks from manipulating the money supply would be ideal .
Peter has said that the US went off the gold standard in 1971 , but he thinks the world is going to go back on it .
Regardless of what form it takes , it seems likely that efforts to push the dollar off its perch will only increase .
The powers that be in America should be concerned about their @ @ @ @ @ @ @ And Americans should be concerned about the future purchasing power of their dollars .

Via SchiffGold.com,
Last year, we reported extensively on a push toward de-dollarization by countries like Russia and China and their desire to undermine the ability of the US to weaponize the dollar as a foreign policy tool. Europe was even starting to push to dethrone the dollar as the reserve currency.
With the Federal Reserve running the dollar printing press at full speed and the US government expanding the national debt into the stratosphere, there are renewed calls for a currency to replace the dollar as the world reserve.
This week, Shanghai Gold Exchange (SGE) President Wang Zhenying called for a new super-sovereign currency to replace the greenback.
Reuters reports:
Concern has mounted among some market participants over the dollar-denominated system as the US Federal Reserve cut interest rates to near-zero and embarked on unlimited quantitative easing to contain the economic damage of the coronavirus pandemic.”
Wang said that the Fed’s monetary policy in response to COVID-19 would eventually tank the dollar even though the current crisis has triggered a scramble for greenbacks.
We are primarily funded by readers. Please subscribe and donate to support us!
When the Fed turns on the liquidity tap, the US dollar will, in theory, be in a long-term depreciatory trend.”
Peter Schiff has been predicting that the dollar is going to tank for quite some time. It’s a matter of when, not if. As the coronavirus crisis began to unfold and the Fed fired up the printing press, Peter said that with the central bank and government response to the coronavirus, hyperinflation has gone from being the worst-case scenario to the most likely scenario.
Peter has also said he thinks people will eventually start dumping dollars.
Nobody can hold dollars. Nobody can hold any bonds denominated in dollars. This is now like a game of musical chairs where nobody wants to get caught with dollars when the music stops playing.”
Wang not only expressed concern about the long-term stability of the dollar; he also echoed an oft-repeated criticism of the US controlling the reserve currency. America uses the privilege as a foreign policy tool. For instance, in 2014 and 2015, the blocked several Russian banks from SWIFT as relations between the two countries deteriorated. Last fall, the US threatened to lock China out of the dollar system if it didn’t follow UN sanctions on North Korea. Wang said this needs to end.
It is a weapon for the US, but a source of insecurity for other countries. The currency the world ultimately chooses for global trade must not be one that gives someone privilege, while exposing others to insecurity.”
A gold standard that prevented central banks from manipulating the money supply would be ideal. Peter has said that the US went off the gold standard in 1971, but he thinks the world is going to go back on it.
The days where the dollar is the reserve currency are numbered and we’re going back to basics. You know, everything old is new again. Gold was money in the past and it will be money again in the future.”
Regardless of what form it takes, it seems likely that efforts to push the dollar off its perch will only increase. The powers that be in America should be concerned about their currencies future as the world reserve. And Americans should be concerned about the future purchasing power of their dollars.