investmentwatchblog--2020-12-08--The “Roaring 20’s” – The Fundamental Problem Of The Bullish View

Recently , Ed Yardeni discussed his view of why another “ Roaring 20 ’ s ” may lie ahead .
However , while I certainly can appreciate his always “ bullish optimism , ” there is a significant fundamental problem with his view .
We can sum Ed ’ s view up in the following quote : “ There ’ s certainly a precedent for our current times in the past , one that was truly unprecedented back then .
World War I was followed by the Spanish Flu pandemic of 1918 , which infected an estimated 500 million people @ @ @ @ @ @ @ .
Given that the world population was 1.8 billion back then , that implied a 28 % infection rate and nearly a 3 % death rate .
Both stats are currently significantly lower for the COVID-19 pandemic .
Today , the global population is 7.5 billion .
There have been 20 million cases and 735,000 deaths worldwide as of yesterday .
The good news is that the bad news during the previous precedent was followed by the Roaring Twenties .
So far , the 2020s has started with the pandemic , but there @ @ @ @ @ @ @ prosperous 1920s to become a precedent for the current decade .
If so , the driver of the coming boom will be technology-enhanced productivity , as it was during the 1920s.
” While the reasoning certainly seems sound , there are vast fundamental differences between today and 1920 , which will likely render the analysis moot .
Let ’ s start with the impact of Technology .
As Ed notes : “ Technological progress always confounds the pessimists by solving scarce-resource problems .
It also fuels productivity and prosperity , as it did @ @ @ @ @ @ @ in the 2020s.
” He is correct that technology will continue to evolve and impact society in numerous ways .
However , there is a fundamental difference between the impacts of technology in the 1920s and today .
As he notes , the rise of automation and the automobile ’ s development had vast implications for an economy shifting from agriculture to manufacturing .
Henry Ford ’ s innovations changed the economy ’ s landscape , allowing people to produce more , expand their markets , and increase access to customers .
Technological @ @ @ @ @ @ @ more jobs needed to produce goods and services to reach those consumers .
Conversely , the use of technology today reduces the demand for physical labor by increasing workers ’ efficiencies .
Since the turn of the century , technology has continued to suppress productivity , wages , and , subsequently , the rate of economic growth .
Such was a point we made in “ The Rescues Are Ruining Capitalism.
” “ However , these policies have all but failed to this point .
From ‘ cash for clunkers ’ to ‘ @ @ @ @ @ @ @ .
Pulling forward future consumption , or inflating asset markets , exacerbated an artificial wealth effect .
Such led to decreased savings rather than productive investments.
” The critical distinction between the technology of the ’ 20s and today is stark .
When technology increases productivity and output while simultaneously increasing demand by increasing “ reach , ” it is beneficial .
However , when technology improves efficiencies to offset weaker demand and reduce labor and costs , it is not .
Given the maturity of the U.S. economy and the ongoing drive @ @ @ @ @ @ @ continue to provide a headwind to economic prosperity .
Another difference is the level of debt .
One of the fundamental requirements for creating strong economic growth rates is low levels of leverage .
In the 1920s , consumers had very little , if any , debt .
Such was also the case with Government debt .
Such allowed higher economic growth rates and overall prosperity as incomes did not get diverted to service debt .
At the beginning of the “ Roaring 20s , ” total credit market debt to GDP was @ @ @ @ @ @ @ the same level of debt-to-GDP when we entered into the “ Roaring 80 ’ s ” bull market .
Importantly , when talking about “ bull markets , ” the amount of debt in the system plays an essential factor .
The last time that debt-to-GDP ratios hit such a peak was going into the “ Great Depression.
” Not the beginning of the “ Roaring 20s.
” Since debt retards economic growth by diverting savings into debt payments rather than productive investments , such also provides a significant headwind to Ed ’ @ @ @ @ @ @ @ The current deviation between the market and underlying economic growth is the largest in history .
Given the high correlation between the economy , corporate profits , and stock prices over the long-term , the “ Market Capitalization ” to “ Gross Domestic Product ” ratio tells us much .
The indicator shows us that when “ disconnects ” between market participants and the underlying economy occur , a reversion ensues .
The correlation is more evident when looking at the market versus the ratio of corporate profits to GDP .
With a @ @ @ @ @ @ @ dismiss these deviations .
There is additional confirmation with an 84 % correlation between the S & P 500 and corporate profits growth .
Since corporate profits are a function of economic growth , the correlation is not unexpected .
Hence , neither should the impending reversion in both series .
The current detachment would not exist without the Fed ’ s largesse .
When it comes to the state of the market , corporate profits are the best indicator of economic strength .
The detachment of the stock market from underlying profitability @ @ @ @ @ @ @ But , as has always been the case , the markets can certainly seem to “ remain irrational longer than logic would predict.
” However , such detachments never last indefinitely .
“ Profit margins are probably the most mean-reverting series in finance .
If profit margins do not mean-revert , then something has gone badly wrong with capitalism .
If high profits do not attract competition , there is something wrong with the system , and it is not functioning properly.
” – Jeremy Grantham As opposed to Ed ’ s view @ @ @ @ @ @ @ reality is the current detachment of the market from the economy guarantees investors a poor outcome in the future .
As we showed in “ Do , You Feel Lucky : ” “ Currently , the ratio is near 1.50 , or more than twice the historical average .
The only other time it was this high was in the first quarter of 2000 , as the tech bubble was bursting .
As shown , the expected annualized return for the next ten years is 0 % .
” Such an outcome will @ @ @ @ @ @ @ market is NOT the economy .
But the economy is a reflection of the very thing that supports higher asset prices – corporate profits.
” – Investors Are Walking Into A Trap Lastly , given the understanding of the relationship between the economy and the stock market , the idea that stocks will remain permanently detached from fundamentals is unlikely .
Importantly , Ed ’ s view of markets entering into another “ 20s era ” misses the point of valuations .
Bullish For Gold : Yellen ’ s Appointment Merges The Treasury @ @ @ @ @ @ @ 1920 , stock market valuations were less than 5x earnings .
Context is critical .
Those low valuations , and subsequent market surge , followed a nearly 20-year long bear market in stock prices .
Such was due to a banking crisis in 1907 , WWI , and a rarely discussed “ economic depression ” heading into 1920 .
Low valuations , combined with a depressed economy , lead to a massive recovery driven by sharply higher economic growth over the next 9-years .
Such is hardly the case today .
After an @ @ @ @ @ @ @ financial and economic systems , and valuations elevated , support for a 20 ’ s melt-up is limited .
As shown below , such periods have not coincided with a subsequent decade of “ roaring asset prices , ” but rather a disappointment .
The 20 ’ s Analogy May Be Misguided While the idea of a “ roaring 20s market ” is undoubtedly optimistic , it is also a dangerous concept for investors to “ buy ” into .
As stated above , the stock market , over the long-term , reflects @ @ @ @ @ @ @ makes up roughly 70 % of that activity .
Given that consumers are more leveraged than at any previous historical period , it is doubtful they will become a significantly larger chunk of the economy .
As such , the capacity to re-leverage to similar extremes is no longer available .
Let ’ s also not forget the singular most important fact .
Our history ’ s previous secular bull markets grew from extreme under-valuations , washed-out financial markets , and extremely negative sentiment .
Such was not the case over the last @ @ @ @ @ @ @ have pumped more than $ 36 Trillion into the economy to keep it “ afloat.
” I say “ afloat ” rather than “ growing ” because , during the last decade , economic “ growth ” was a function of population growth .
Monetary interventions were successful in creating inflation in financial assets .
However , during the same period , the economy grew by only $ 2.92 Trillion .
In other words , for each dollar of economic growth since 2008 , it required $ 12.67 of monetary stimulus .
Such @ @ @ @ @ @ @ solely from debt issuance .
The “ secular bull market ” of the 1920s is probably the best example of the cycle we are likely ending , not beginning .
In 1920 , banks were lending money to individuals to invest in the securities they were bringing to market .
Interest rates were falling , economic growth was rising , and valuations grew faster than underlying earnings and profits .
There was no perceived danger in the markets and little concern of financial risk as “ stocks had reached a permanently high plateau.
@ @ @ @ @ @ @ Today , while stock prices can be lofted higher by further monetary tinkering , the underlying fundamentals are inverted .
The larger problem remains the economic variables ’ inability to “ replay the tape ” of the ’ 20s , the ’ 50s , or the ’ 80s .
At some point , the markets and the economy will have to process a “ reset ” to rebalance the financial equation .
In all likelihood , it is precisely that reversion which will create the “ set up ” necessary to begin the @ @ @ @ @ @ @ Unfortunately , as was seen at the bottom of the market in 1974 , there will be few individual investors left to enjoy the beginning of that ride .

by Lance Roberts
Recently, Ed Yardeni discussed his view of why another “Roaring 20’s” may lie ahead. However, while I certainly can appreciate his always “bullish optimism,” there is a significant fundamental problem with his view. The Reasoning We can sum Ed’s view up in the following quote: “There’s certainly a precedent for our current times in the past, one that was truly unprecedented back then. World War I was followed by the Spanish Flu pandemic of 1918, which infected an estimated 500 million people and killed as many as 50 million. Given that the world population was 1.8 billion back then, that implied a 28% infection rate and nearly a 3% death rate. Both stats are currently significantly lower for the COVID-19 pandemic. Today, the global population is 7.5 billion. There have been 20 million cases and 735,000 deaths worldwide as of yesterday. The good news is that the bad news during the previous precedent was followed by the Roaring Twenties. So far, the 2020s has started with the pandemic, but there are plenty of years left for the prosperous 1920s to become a precedent for the current decade. If so, the driver of the coming boom will be technology-enhanced productivity, as it was during the 1920s.” While the reasoning certainly seems sound, there are vast fundamental differences between today and 1920, which will likely render the analysis moot. The Fundamental Problem Of Technology Let’s start with the impact of Technology. As Ed notes: “Technological progress always confounds the pessimists by solving scarce-resource problems. It also fuels productivity and prosperity, as it did in the 1920s and could do again in the 2020s.” He is correct that technology will continue to evolve and impact society in numerous ways. However, there is a fundamental difference between the impacts of technology in the 1920s and today. As he notes, the rise of automation and the automobile’s development had vast implications for an economy shifting from agriculture to manufacturing. Henry Ford’s innovations changed the economy’s landscape, allowing people to produce more, expand their markets, and increase access to customers. Technological advances led to increased demand, creating more jobs needed to produce goods and services to reach those consumers. Conversely, the use of technology today reduces the demand for physical labor by increasing workers’ efficiencies. Since the turn of the century, technology has continued to suppress productivity, wages, and, subsequently, the rate of economic growth. Technologies Dark Side Such was a point we made in “The Rescues Are Ruining Capitalism.” “However, these policies have all but failed to this point. From ‘cash for clunkers’ to ‘Quantitative Easing,’ economic prosperity worsened. Pulling forward future consumption, or inflating asset markets, exacerbated an artificial wealth effect. Such led to decreased savings rather than productive investments.” The critical distinction between the technology of the ’20s and today is stark. When technology increases productivity and output while simultaneously increasing demand by increasing “reach,” it is beneficial. However, when technology improves efficiencies to offset weaker demand and reduce labor and costs, it is not. Given the maturity of the U.S. economy and the ongoing drive for profitability by corporations, technology will continue to provide a headwind to economic prosperity.
The Fundamental Problem Of Debt
Another difference is the level of debt. One of the fundamental requirements for creating strong economic growth rates is low levels of leverage. In the 1920s, consumers had very little, if any, debt. Such was also the case with Government debt. Such allowed higher economic growth rates and overall prosperity as incomes did not get diverted to service debt.
At the beginning of the “Roaring 20s,” total credit market debt to GDP was 154%. Such was also about the same level of debt-to-GDP when we entered into the “Roaring 80’s” bull market.
Importantly, when talking about “bull markets,” the amount of debt in the system plays an essential factor. The last time that debt-to-GDP ratios hit such a peak was going into the “Great Depression.” Not the beginning of the “Roaring 20s.”
The Fundamental Problem Of Economic Growth Since debt retards economic growth by diverting savings into debt payments rather than productive investments, such also provides a significant headwind to Ed’s “Roaring 20s” aspirations. The current deviation between the market and underlying economic growth is the largest in history. Given the high correlation between the economy, corporate profits, and stock prices over the long-term, the “Market Capitalization” to “Gross Domestic Product” ratio tells us much. The indicator shows us that when “disconnects” between market participants and the underlying economy occur, a reversion ensues. The correlation is more evident when looking at the market versus the ratio of corporate profits to GDP. With a 90% correlation, investors should not dismiss these deviations. There is additional confirmation with an 84% correlation between the S&P 500 and corporate profits growth. Since corporate profits are a function of economic growth, the correlation is not unexpected. Hence, neither should the impending reversion in both series. The current detachment would not exist without the Fed’s largesse. We are primarily funded by readers. Please subscribe and donate to support us! Poor Future Outcomes When it comes to the state of the market, corporate profits are the best indicator of economic strength. The detachment of the stock market from underlying profitability guarantees poor future outcomes for investors. But, as has always been the case, the markets can certainly seem to “remain irrational longer than logic would predict.” However, such detachments never last indefinitely. “Profit margins are probably the most mean-reverting series in finance. If profit margins do not mean-revert, then something has gone badly wrong with capitalism. If high profits do not attract competition, there is something wrong with the system, and it is not functioning properly.” – Jeremy Grantham As opposed to Ed’s view of a surging market ahead, the reality is the current detachment of the market from the economy guarantees investors a poor outcome in the future. As we showed in “Do, You Feel Lucky:” “Currently, the ratio is near 1.50, or more than twice the historical average. The only other time it was this high was in the first quarter of 2000, as the tech bubble was bursting. As shown, the expected annualized return for the next ten years is 0%.”
Such an outcome will undoubtedly be disappointing.
The Fundamental Problem Of Valuations “The stock market is NOT the economy. But the economy is a reflection of the very thing that supports higher asset prices – corporate profits.” – Investors Are Walking Into A Trap Lastly, given the understanding of the relationship between the economy and the stock market, the idea that stocks will remain permanently detached from fundamentals is unlikely. Importantly, Ed’s view of markets entering into another “20s era” misses the point of valuations. As shown, in 1920, stock market valuations were less than 5x earnings. Context is critical. Those low valuations, and subsequent market surge, followed a nearly 20-year long bear market in stock prices. Such was due to a banking crisis in 1907, WWI, and a rarely discussed “economic depression” heading into 1920. Low valuations, combined with a depressed economy, lead to a massive recovery driven by sharply higher economic growth over the next 9-years. Such is hardly the case today. After an 11-year expansion, extreme leverage of the financial and economic systems, and valuations elevated, support for a 20’s melt-up is limited. As shown below, such periods have not coincided with a subsequent decade of “roaring asset prices,” but rather a disappointment.
The 20’s Analogy May Be Misguided
While the idea of a “roaring 20s market” is undoubtedly optimistic, it is also a dangerous concept for investors to “buy” into.
As stated above, the stock market, over the long-term, reflects the underlying economic activity. Personal consumption makes up roughly 70% of that activity. Given that consumers are more leveraged than at any previous historical period, it is doubtful they will become a significantly larger chunk of the economy. As such, the capacity to re-leverage to similar extremes is no longer available.
Let’s also not forget the singular most important fact.
Our history’s previous secular bull markets grew from extreme under-valuations, washed-out financial markets, and extremely negative sentiment.
Such was not the case over the last decade as the Federal Reserve and Government have pumped more than $36 Trillion into the economy to keep it “afloat.”
I say “afloat” rather than “growing” because, during the last decade, economic “growth” was a function of population growth. Monetary interventions were successful in creating inflation in financial assets. However, during the same period, the economy grew by only $2.92 Trillion.
In other words, for each dollar of economic growth since 2008, it required $12.67 of monetary stimulus. Such sounds okay until you realize it came solely from debt issuance.
Conclusion
The “secular bull market” of the 1920s is probably the best example of the cycle we are likely ending, not beginning.
In 1920, banks were lending money to individuals to invest in the securities they were bringing to market. Interest rates were falling, economic growth was rising, and valuations grew faster than underlying earnings and profits.
There was no perceived danger in the markets and little concern of financial risk as “stocks had reached a permanently high plateau.”
It all ended rather abruptly.
Today, while stock prices can be lofted higher by further monetary tinkering, the underlying fundamentals are inverted. The larger problem remains the economic variables’ inability to “replay the tape” of the ’20s, the ’50s, or the ’80s. At some point, the markets and the economy will have to process a “reset” to rebalance the financial equation.
In all likelihood, it is precisely that reversion which will create the “set up” necessary to begin the “next great secular bull market.” Unfortunately, as was seen at the bottom of the market in 1974, there will be few individual investors left to enjoy the beginning of that ride.


investmentwatchblog--2020-12-08--Ron Paul: The Crack-Up is Coming

Ron Paul: The Crack-Up is Coming

Ron Paul , Institute for Peace and Prosperity , Released on 12/7/20 Some Federal Reserve officials are calling for tougher banking regulations in order to prevent the Fed ’ s low interest rate policy from leading investors to take “ excessive ” risks that will create asset bubbles .
The Fed is understandably worried that these bubbles will burst leading to another market meltdown .
However , the boom-and-bust cycle will not end because regulators stop investors from taking “ excessive ” risks .
Almost every bubble and economic downturn America has experienced over the past 107 years was caused @ @ @ @ @ @ @ of the money supply .
The Federal Reserve ’ s actions artificially lower interest rates , thus distorting the signals sent by the rates , which are the price of money .
Artificially low interest rates cause investments to be made in projects that are not supported by the real underlying market conditions .
This results in a boom , inevitably followed by a crash , then by a new round of money creation and government bailouts restarting the cycle .
Increased regulations will not just fail to head off the next crash @ @ @ @ @ @ @ worse .
Federal regulators are not capable of determining what is “ excessive ” risk .
Instead , that determination is best left to market participants .
Regulators are subject to having the same Fed-induced distorted view of the marketplace as nearly everyone else .
Thus , regulators may mistake a growing asset bubble as a thriving sector of the economy that will serve as a long-term source of growth .
This is especially the case if , as with the housing bubble , government policies such as the Community Reinvestment Act encourage @ @ @ @ @ @ @ impede the growth of businesses that are actually responding to real economic conditions instead of Fed-created illusions .
Support among the people , if not among the financial and political elites , for auditing and even ending the Fed , as well as for cryptocurrencies and precious metals , suggests we may soon reach what Ludwig von Mises referred to as the “ crack-up.
” The crack-up occurs when enough people realize that continuous expanding of the money supply , and the accompanying decline in a currency ’ s purchasing power , is @ @ @ @ @ @ @ , they spend their money as soon as they get it , accelerating the rise of hyperinflation .
Concerns over the effects of the US government ’ s debt , the precarious American economic condition , and growing resentment of US foreign policy have led to a decline in the dollar ’ s international value .
Eventually , these factors will lead to a rejection of the dollar ’ s world reserve currency status .
Rejection of the dollar ’ s reserve currency status abroad and the crack-up at home will cause an @ @ @ @ @ @ @ .
Among the problems this will lead to is increased violence as some Americans who believe they are entitled to live off the stolen property of others cut out the government middleman and start stealing from their fellow citizens .
The only way to avoid this fate is to spread the ideas of liberty among the people .
A strong liberty movement that can pressure politicians to cut spending , audit and end the Fed , legalize competing currencies , and stop promoting divisive identity politics is the key to peacefully transitioning away @ @ @ @ @ @ @ free society .

Ron Paul, Institute for Peace and Prosperity, Released on 12/7/20
Some Federal Reserve officials are calling for tougher banking regulations in order to prevent the Fed’s low interest rate policy from leading investors to take “excessive” risks that will create asset bubbles. The Fed is understandably worried that these bubbles will burst leading to another market meltdown. However, the boom-and-bust cycle will not end because regulators stop investors from taking “excessive” risks. Almost every bubble and economic downturn America has experienced over the past 107 years was caused by the Federal Reserve’s manipulation of the money supply.
The Federal Reserve’s actions artificially lower interest rates, thus distorting the signals sent by the rates, which are the price of money. Artificially low interest rates cause investments to be made in projects that are not supported by the real underlying market conditions. This results in a boom, inevitably followed by a crash, then by a new round of money creation and government bailouts restarting the cycle.
Increased regulations will not just fail to head off the next crash, they will make the next recession worse. Federal regulators are not capable of determining what is “excessive” risk. Instead, that determination is best left to market participants. Regulators are subject to having the same Fed-induced distorted view of the marketplace as nearly everyone else. Thus, regulators may mistake a growing asset bubble as a thriving sector of the economy that will serve as a long-term source of growth. This is especially the case if, as with the housing bubble, government policies such as the Community Reinvestment Act encourage the malinvestments. Also, regulators may impede the growth of businesses that are actually responding to real economic conditions instead of Fed-created illusions.
We are primarily funded by readers. Please subscribe and donate to support us!
Support among the people, if not among the financial and political elites, for auditing and even ending the Fed, as well as for cryptocurrencies and precious metals, suggests we may soon reach what Ludwig von Mises referred to as the “crack-up.” The crack-up occurs when enough people realize that continuous expanding of the money supply, and the accompanying decline in a currency’s purchasing power, is a feature of central banking. Therefore, they spend their money as soon as they get it, accelerating the rise of hyperinflation.
Concerns over the effects of the US government’s debt, the precarious American economic condition, and growing resentment of US foreign policy have led to a decline in the dollar’s international value. Eventually, these factors will lead to a rejection of the dollar’s world reserve currency status.
Rejection of the dollar’s reserve currency status abroad and the crack-up at home will cause an economic meltdown worse than the Great Depression. Among the problems this will lead to is increased violence as some Americans who believe they are entitled to live off the stolen property of others cut out the government middleman and start stealing from their fellow citizens.
The only way to avoid this fate is to spread the ideas of liberty among the people. A strong liberty movement that can pressure politicians to cut spending, audit and end the Fed, legalize competing currencies, and stop promoting divisive identity politics is the key to peacefully transitioning away from the Keynesian welfare-warfare state to a free society.


investmentwatchblog--2020-12-08--Market sentiment is at early 2000s euphoria levels, investor Peter Boockvar warns

Bleakley Advisory Group ’ s Peter Boockvar believes the market is vulnerable to a pullback because sentiment is “ off @ @ @ @ @ is the Chief Investment Officer of Bleakley Financial Group and Editor of The Boock Report @ @ @

CNBC, Released on 12/7/20
Bleakley Advisory Group’s Peter Boockvar believes the market is vulnerable to a pullback because sentiment is “off the charts.”
We are primarily funded by readers. Please subscribe and donate to support us!
Peter Boockvar is the Chief Investment Officer of Bleakley Financial Group and Editor of The Boock Report newsletter boockreport.com/.


investmentwatchblog--2020-12-08--Volatile Volatility for 2021 with Nick Santiago (Ep #171)

For more than 20 years , Master Trader Nick Santiago has been beating the markets .
He ’ s made @ @ @ @ @ way and now he ’ s looking to spread the word .
There ’ s @ @ @ @ @ trader should be coming up short .
So now we ’ ve started a daily @ @ @ @ @ to date on the latest market developments .
Nick will be sharing trades and concepts @ @ @ @ @ 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.
We are primarily funded by readers. Please subscribe and donate to support us!
Click Here to Listen to the Audio


investmentwatchblog--2020-12-08--Unprecedented COMEX Physical Gold Delivery Orders

Andrew Maguire shares word of tonnes of physical gold set for COMEX Gold Futures delivery .
Watch this week ’ s Live from the Vault for : • Why did the gold price drop ?
• The outlook for gold and silver this year and beyond .
• The silver price point insiders will need to quickly recover to stem backwardation .
• How the CME and LBMA ’ s fresh price containment strategy is destined to fail .
In this week ’ s breakdown of the gold and silver markets , Andrew Maguire explores the unprecedented physical bullion requests @ @ @ @ @ @ @ delivery .
According to Andrew Maguire , insiders were on the attack last Friday , as the New York pit opened into vapour thin US market conditions .
As market making insiders scrambled to offset massive overhanging November physical gold delivery obligations .
However , Andrew Maguire believes the overplayed move only went some way to offset the massive overshoot of physical gold bullion buy interest .
Andrew Maguire reports a total of 34.7 tonnes of COMEX November delivery requests had to be physically delivered this Monday .
With trading houses rationed for @ @ @ @ @ @ @ , locking in the significant tonnage at a $ 3 – $ 5 discount to spot price .
The long-time wholesaler reports that Barclays Bank took 17.4 tonnes of the 34.7 tonnes requested , with another known client securing 4.7 tonnes .
These physical deliveries taken in November , follow on from the remarkable 108 tonnes sought for delivery in the typically uneventful October contract .
The flow of physical taken for COMEX Gold Futures delivery shows no sign of halting over the festive period , according to Andrew Maguire .
Andrew Maguire @ @ @ @ @ @ @ , representing 44 tonnes demanded for delivery , as of Wednesday .
The remaining open interest in Gold Futures represents another 63 tonnes standing for delivery .
Andrew Maguire estimates that at least another 30 tonnes will flow out before the last delivery date for December on New Year ’ s Eve .
With the COMEX continually under attack for their fractionally held physical bullion stocks , Andrew Maguire believes “ the physical paper battle has finally come to a head.
” Unless insiders allow the gold and silver price to rise , @ @ @ @ @ @ @ anywhere .
Next Episode : Andrew Maguire carries out another detailed round-up of the gold and silver markets .
Don ’ t miss out : Subscribe to the The opinions expressed in this publication are those of Andrew Maguire and do not purport to reflect the official policy or position of Kinesis .
This publication is for informational purposes only and is not intended to be a solicitation , offering or recommendation of any security , commodity , derivative , investment management service or advisory service and is not commodity trading advice .
@ @ @ @ @ @ @ investment , tax or legal advice on either a general or specific basis .

Samuel Briggs via Kinesis
Andrew Maguire shares word of tonnes of physical gold set for COMEX Gold Futures delivery.
Watch this week’s Live from the Vault for:
Why did the gold price drop?
The outlook for gold and silver this year and beyond.
The silver price point insiders will need to quickly recover to stem backwardation.
How the CME and LBMA’s fresh price containment strategy is destined to fail.
In this week’s breakdown of the gold and silver markets, Andrew Maguire explores the unprecedented physical bullion requests for November and December COMEX Gold Futures delivery.
Insiders fail to offset physical delivery demands
According to Andrew Maguire, insiders were on the attack last Friday, as the New York pit opened into vapour thin US market conditions. As market making insiders scrambled to offset massive overhanging November physical gold delivery obligations.
However, Andrew Maguire believes the overplayed move only went some way to offset the massive overshoot of physical gold bullion buy interest.
November Contracts
Andrew Maguire reports a total of 34.7 tonnes of COMEX November delivery requests had to be physically delivered this Monday. With trading houses rationed for physical supply at current low paper-driven prices, locking in the significant tonnage at a $3 – $5 discount to spot price.
The long-time wholesaler reports that Barclays Bank took 17.4 tonnes of the 34.7 tonnes requested, with another known client securing 4.7 tonnes. These physical deliveries taken in November, follow on from the remarkable 108 tonnes sought for delivery in the typically uneventful October contract.
We are primarily funded by readers. Please subscribe and donate to support us!
December Contracts
The flow of physical taken for COMEX Gold Futures delivery shows no sign of halting over the festive period, according to Andrew Maguire.
Andrew Maguire reports that December deliveries have already commenced, representing 44 tonnes demanded for delivery, as of Wednesday. The remaining open interest in Gold Futures represents another 63 tonnes standing for delivery. Andrew Maguire estimates that at least another 30 tonnes will flow out before the last delivery date for December on New Year’s Eve.
With the COMEX continually under attack for their fractionally held physical bullion stocks, Andrew Maguire believes “the physical paper battle has finally come to a head.”
Andrew Maguire’s parting thought:
Unless insiders allow the gold and silver price to rise, these COMEX delivery demands are not going anywhere.
Next Episode: Andrew Maguire carries out another detailed round-up of the gold and silver markets.
Don’t miss out: Subscribe to the Kinesis YouTube channel
The opinions expressed in this publication are those of Andrew Maguire and do not purport to reflect the official policy or position of Kinesis.
This publication is for informational purposes only and is not intended to be a solicitation, offering or recommendation of any security, commodity, derivative, investment management service or advisory service and is not commodity trading advice. This publication does not intend to provide investment, tax or legal advice on either a general or specific basis.


investmentwatchblog--2020-12-08--Newspaper in Louisiana telling the truth. It’s happening! – HOW THE ELECTION WAS STOLEN

Trump Will Win The Election In The Courts ( Everyone Knows Fraud Occurred )

Newspaper in Louisiana telling the truth. It's happening! pic.twitter.com/7nvH9Df3c4 pic.twitter.com/UECWfxAjkw
— Tommy Sideburns (@united__UK) December 7, 2020


investmentwatchblog--2020-12-08--LION TED CRUZ WILL BE ARGUING PENNSYLVANIA CASE BEFORE SCOTUS!

Because of the importance of the legal issues presented , I 've publicly urged # SCOTUS to hear the case @ @ @ @ @ , congressional candidate Sean Parnell & state rep. candidate Wanda Logan challenging the constitutionality of @ @ @ @ @ PA. As I said last week , the bitter division and acrimony we see across @ @ @ @ @ I believe # SCOTUS has a responsibility to the American People to ensure , within @ @ @ @ @ are following the law and following the Constitution .

Because of the importance of the legal issues presented, I've publicly urged #SCOTUS to hear the case brought by Congressman Mike Kelly, congressional candidate Sean Parnell & state rep. candidate Wanda Logan challenging the constitutionality of the POTUS election results in PA.
As I said last week, the bitter division and acrimony we see across the Nation needs resolution. I believe #SCOTUS has a responsibility to the American People to ensure, within its powers, that we are following the law and following the Constitution.
— Ted Cruz (@tedcruz) December 7, 2020


investmentwatchblog--2020-12-08--Nancy Pelosi – America would still support Israel even if our Capital Crumbled to the Ground

Tulsi Gabbard Pledges SUPPORT for Trump in Battle Against Big Tech : `` I fully support you on this .
@ @ @ @ @ down .
The freedom and future of our country is at stake . ''

WTF?
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This is the full testimony of Indian American Hima Kolanagireddy, who before the Michigan House Oversight Committee, alleged witnessing fraud during the election as a representative observer of the Michigan GOP. She was brought as a witness to testify by President Trump’s attorneys Rudy Giuliani & Jenna Ellis.


investmentwatchblog--2020-12-08--DECEITFUL: NBC Edits Video of Restaurant Owner Exposing NBC Comedy’s Catering.

Over the weekend , a video of Angela Marsden , the owner of the Pineapple Hill Saloon & Grill of @ @ @ @ @ city shutting down outdoor dining with no scientific basis went viral .
The video showed @ @ @ @ @ for help as she exposed how a similar set of tents and tables were set @ @ @ @ @ lot to cater a film production approved by the city .
Only part of Marsden @ @ @ @ @ onto NBC ’ s Sunday Today .
But reporter Meagan Fitzgerald deceptively edited out Marsden @ @ @ @ @ the tents and tables .
Worse yet , NBC covered up the fact that the @ @ @ @ @ s comedy show , Good Girls .

via newsbusters:
Over the weekend, a video of Angela Marsden, the owner of the Pineapple Hill Saloon & Grill of Los Angeles, protesting the city shutting down outdoor dining with no scientific basis went viral. The video showed Marsden’s emotional plea for help as she exposed how a similar set of tents and tables were set up in the same parking lot to cater a film production approved by the city.
Only part of Marsden’s comments made it onto NBC’s Sunday Today. But reporter Meagan Fitzgerald deceptively edited out Marsden pointing to the hypocrisy with the tents and tables. Worse yet, NBC covered up the fact that the catering was for NBC’s comedy show, Good Girls.


investmentwatchblog--2020-12-08--MEDIA Fact-Check: MSM Caught LYING About Georgia Elections!

Robert F. Kennedy Jr : The Big Question About COVID Vaccines that No One in Media Is Asking

Crowder walks us through the abnormal timeline of the Georgia elections and demonstrates how the Media has deceived the public.
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Fulton Co Election Chief Responds to Video Evidence
h/t DS


investmentwatchblog--2020-12-08--94% of 113,130 ballots were adjudicated (“questionable”) in Fulton County, Georgia

MORE – In Gwinnett County , # Georgia , as many as 80,000 absentee ballots were flagged for an `` @ @ @ @ @ spokesman Joe Sorenson .
pic.twitter.com/iuWRj65wLR

MORE – In Gwinnett County, #Georgia, as many as 80,000 absentee ballots were flagged for an "adjudication" process… said county spokesman Joe Sorenson. pic.twitter.com/iuWRj65wLR
— Disclose.tv 🚨 (@disclosetv) December 7, 2020


investmentwatchblog--2020-12-08--Liberal Santa sends Young Boy Away in Tears After Refusing to Gift Him a Nerf Gun for Christmas

Liberal Santa sends Young Boy Away in Tears After Refusing to Gift Him a Nerf Gun for Christmas @ Hasbro @

Liberal Santa sends Young Boy Away in Tears After Refusing to Gift Him a Nerf Gun for Christmas @Hasbro pic.twitter.com/9QbKtxcJGK
— Matthew 🎄🎅🏻 🔫 (@WhiteHovse) December 7, 2020


investmentwatchblog--2020-12-08--There Is No Chinese Economic Miracle

There Is No Chinese Economic Miracle

The year 2020 will be an extremely tough year for the European economy .
Added to an unprecedented drop is a strong impact in the fourth quarter due to the new lockdowns .
Morgan Stanley estimates that the eurozone ’ s GDP will fall by 2.2 percent in the fourth quarter , a 7 percent drop in the full year 2020 .
In addition , the investment bank has lowered the outlook for 2021 , with a rebound of only 5 percent in the average of the euro area , delaying the recovery of 2019 GDP to 2023 .
The @ @ @ @ @ @ @ worrying .
The apparently spectacular rebound data for the third quarter resulted in zero job creation .
Unemployment in the eurozone in September stood at 8.3 percent and in Spain at 16.5 percent , not counting the millions of furloughed jobs in Europe .
In this environment , the United States ’ s recovery seems much stronger .
GDP recovered in the third quarter to just 3.5 percent below 2019 levels .
Unemployment has fallen to 6.9 percent in October but remains well above the record employment levels of 2019 .
However , @ @ @ @ @ @ @ .
The manufacturing and services index already shows an enviable expansion .
GDP for the first three quarters is already growing at 0.7 percent after an expansion of 4.9 percent in the third quarter .
Urban unemployment in China is 5.4 percent after shooting to a paltry 6 percent .
What is behind the Chinese miracle compared to the poor eurozone ?
A planned GDP .
The GDP of China is dictated by production , not demand .
It is not an observed GDP , but rather planned by the federal government together @ @ @ @ @ @ @ , many analysts scrutinize the data and deduct various factors , including the increase and valuation of inventories .
It is not by chance that inventories of iron ore , automobiles , and finished goods have risen to the highest level in seven months as the economy recovers .
If the economic situation were in the announced expansion , inventories would be falling rapidly when sold .
Much is produced that is then not sold and remains in warehouses .
Thus , it is not surprising that industrial prices fell 2.1 percent in @ @ @ @ @ @ @ and the country ’ s debt soared 13.5 percent amid an apparently miraculous recovery .
Industrial business profits have fallen 2.4 percent between January and September and , furthermore , factory door prices fell faster than expected in September and were at risk of deflation .
These are signs of a slowly recovering economy , like all others , but not of a growth miracle .
In most economies , inventories are valued at market prices , while in China they are valued by the authorities and adjusted later .
Constant methodological and @ @ @ @ @ @ @ annual growth , despite the evident increase in transparency in recent years .
Another difficult factor to analyze is the growth of construction activity in a country where overcapacity is evident and ghost cities and white elephant uneconomical projects are multiplying .
The reduction in urban unemployment also hides a more complex reality .
Unemployment in China is close to 11 percent on average , according to the “ Long Run Trends in Unemployment and Labor Force Participation in China ” study ( NBER Working Paper No .
21460 ) and probably well @ @ @ @ @ @ @ the covid-19 crisis .
According to Capital Economics , Nomura , or HSBC University of Beijing , another important challenge is calculating GDP with a realistic deflator .
By using a deflator—the impact of prices on GDP—that is much lower than the observed one , GDP appears artificially higher than it really is .
In an economy where inflation is underestimated , nominal wages , which grow at an official 3.6 percent , lose purchasing power almost every year due to the real cost of living , especially in food and daily expenditures @ @ @ @ @ @ @ official ones .
In a recent study ( “ A Forensic Examination of China ’ s National Accounts ” [ 2019 ] ) the authors concluded that China ’ s GDP may have been exaggerated by around 2 percent per year between 2008 and 2016 , showing that China ’ s real GDP is probably 18 percent lower than the official figure .
China ’ s GDP is never revised , and the December figure simply stands and is consolidated without question .
This is an important factor that the Chinese authorities have @ @ @ @ @ @ @ adjustments by the NBS ( National Bureau of Statistics ) .
The problem is that provinces have accelerated their race in the effort to provide spectacular figures and the magnitude of the corrections of the national office does not compensate for these “ exaggerations.
” Another problem is that annual revisions compute for growth but are not revised in the GDP figure for the year .
The calculation base is reduced .
For example , according to independent consultancy China Beige Book , gross capital formation for the third quarter of 2019 has @ @ @ @ @ @ @ As the 2019 figure falls , the growth on the same data for 2020 seems spectacular .
That same review was made with the retail sales figure : those for August 2019 were revised down by ¥50 billion and the growth figure for 2020 seems miraculous .
However , a revision of such depth in the base calculation of figures for 2019 did not generate a downward revision of the GDP for that year .
These methodological problems are added to the survey used for the calculation .
The government uses a list @ @ @ @ @ @ @ of revenue .
That list grows and shrinks , creating homogeneity problems that the NBS tries to adjust for .
In the United States , each daily , weekly , and monthly data is analyzed by different independent entities and each data point is impossible to manipulate by a government authority .
That is why the GDP is constantly revised .
China ’ s GDP is the only one that is not revised .
It is published and consolidated .
It is a shame because the reality observed by companies and citizens in @ @ @ @ @ @ @ slowly and unevenly , but it is recovering , probably with a year-on-year drop of 2.5 percent , which would be , in any case , a very positive figure .
Falling into planned overcapacity and excessive triumphalism on the part of some provinces competing to provide better data than others ends in questioning the reality of the improvement in the economy .
Beijing has pledged to bring the data up to IMF standards , but lack of independent scrutiny and the competition between provinces when it comes to providing positive and spectacular @ @ @ @ @ @ @ , inventories , consumption , and profits .
The recovery of the real economy in China is happening , but it is not dissimilar to that of many of the leading Asian countries .
Daniel Lacalle , PhD , economist and fund manager , is the author of the bestselling books Freedom or Equality ( 2020 ) , Escape from the Central Bank Trap ( 2017 ) , The Energy World Is Flat ( 2015 ) , and Life in the Financial Markets ( 2014 ) .
He is a professor of global @ @ @ @ @ @ @ .

by Daniel Lacalle via Mises
The year 2020 will be an extremely tough year for the European economy. Added to an unprecedented drop is a strong impact in the fourth quarter due to the new lockdowns. Morgan Stanley estimates that the eurozone’s GDP will fall by 2.2 percent in the fourth quarter, a 7 percent drop in the full year 2020. In addition, the investment bank has lowered the outlook for 2021, with a rebound of only 5 percent in the average of the euro area, delaying the recovery of 2019 GDP to 2023.
The “jobless recovery” is even more worrying. The apparently spectacular rebound data for the third quarter resulted in zero job creation. Unemployment in the eurozone in September stood at 8.3 percent and in Spain at 16.5 percent, not counting the millions of furloughed jobs in Europe.
In this environment, the United States’s recovery seems much stronger. GDP recovered in the third quarter to just 3.5 percent below 2019 levels. Unemployment has fallen to 6.9 percent in October but remains well above the record employment levels of 2019.
However, the data from China is apparently spectacular. The manufacturing and services index already shows an enviable expansion. GDP for the first three quarters is already growing at 0.7 percent after an expansion of 4.9 percent in the third quarter. Urban unemployment in China is 5.4 percent after shooting to a paltry 6 percent. What is behind the Chinese miracle compared to the poor eurozone?
A planned GDP. The GDP of China is dictated by production, not demand. It is not an observed GDP, but rather planned by the federal government together with the provinces. For this reason, many analysts scrutinize the data and deduct various factors, including the increase and valuation of inventories. It is not by chance that inventories of iron ore, automobiles, and finished goods have risen to the highest level in seven months as the economy recovers. If the economic situation were in the announced expansion, inventories would be falling rapidly when sold. Much is produced that is then not sold and remains in warehouses. Thus, it is not surprising that industrial prices fell 2.1 percent in September, export prices 0.9 percent, and the country’s debt soared 13.5 percent amid an apparently miraculous recovery. Industrial business profits have fallen 2.4 percent between January and September and, furthermore, factory door prices fell faster than expected in September and were at risk of deflation. These are signs of a slowly recovering economy, like all others, but not of a growth miracle.
In most economies, inventories are valued at market prices, while in China they are valued by the authorities and adjusted later. Constant methodological and base changes also lead to doubts regarding annual growth, despite the evident increase in transparency in recent years. Another difficult factor to analyze is the growth of construction activity in a country where overcapacity is evident and ghost cities and white elephant uneconomical projects are multiplying.
The reduction in urban unemployment also hides a more complex reality. Unemployment in China is close to 11 percent on average, according to the “Long Run Trends in Unemployment and Labor Force Participation in China” study (NBER Working Paper No. 21460) and probably well above 13 percent in the midst of the covid-19 crisis.
According to Capital Economics, Nomura, or HSBC University of Beijing, another important challenge is calculating GDP with a realistic deflator. By using a deflator—the impact of prices on GDP—that is much lower than the observed one, GDP appears artificially higher than it really is. In an economy where inflation is underestimated, nominal wages, which grow at an official 3.6 percent, lose purchasing power almost every year due to the real cost of living, especially in food and daily expenditures, which are much higher than the official ones.
In a recent study (“A Forensic Examination of China’s National Accounts” [2019]) the authors concluded that China’s GDP may have been exaggerated by around 2 percent per year between 2008 and 2016, showing that China’s real GDP is probably 18 percent lower than the official figure. China’s GDP is never revised, and the December figure simply stands and is consolidated without question. This is an important factor that the Chinese authorities have tried to correct with greater transparency and adjustments by the NBS (National Bureau of Statistics). The problem is that provinces have accelerated their race in the effort to provide spectacular figures and the magnitude of the corrections of the national office does not compensate for these “exaggerations.”
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Another problem is that annual revisions compute for growth but are not revised in the GDP figure for the year. The calculation base is reduced. For example, according to independent consultancy China Beige Book, gross capital formation for the third quarter of 2019 has been revised down by ¥2.3 trillion. As the 2019 figure falls, the growth on the same data for 2020 seems spectacular. That same review was made with the retail sales figure: those for August 2019 were revised down by ¥50 billion and the growth figure for 2020 seems miraculous. However, a revision of such depth in the base calculation of figures for 2019 did not generate a downward revision of the GDP for that year.
These methodological problems are added to the survey used for the calculation. The government uses a list of companies that generate a minimum amount of revenue. That list grows and shrinks, creating homogeneity problems that the NBS tries to adjust for.
In the United States, each daily, weekly, and monthly data is analyzed by different independent entities and each data point is impossible to manipulate by a government authority. That is why the GDP is constantly revised. China’s GDP is the only one that is not revised. It is published and consolidated.
It is a shame because the reality observed by companies and citizens in China is that the economy is recovering slowly and unevenly, but it is recovering, probably with a year-on-year drop of 2.5 percent, which would be, in any case, a very positive figure. Falling into planned overcapacity and excessive triumphalism on the part of some provinces competing to provide better data than others ends in questioning the reality of the improvement in the economy.
Beijing has pledged to bring the data up to IMF standards, but lack of independent scrutiny and the competition between provinces when it comes to providing positive and spectacular figures continue to generate inconsistencies between sales, inventories, consumption, and profits. The recovery of the real economy in China is happening, but it is not dissimilar to that of many of the leading Asian countries.
Author:
Daniel Lacalle
Daniel Lacalle, PhD, economist and fund manager, is the author of the bestselling books Freedom or Equality (2020),Escape from the Central Bank Trap (2017), The Energy World Is Flat (2015), and Life in the Financial Markets (2014).
He is a professor of global economy at IE Business School in Madrid.


investmentwatchblog--2020-12-08--The Fed Fights Inflation with Inflation

The Fed Fights Inflation with Inflation

2021 may be the weakest year yet for the dollar .
Investors whistle past the mother of all graveyards as @ @ @ @ @ money and buying CNBC ads .
Watch for Bitcoin ’ s double-top before you let @ @ @ @ @ on Sesame Street try to silence my video .
Walter E. Williams , a black @ @ @ @ @ me .

by Peter Schiff of Peter Schiff Podcast
We are primarily funded by readers. Please subscribe and donate to support us!
2021 may be the weakest year yet for the dollar.
Investors whistle past the mother of all graveyards as inflation mounts.
Grayscale printing money and buying CNBC ads.
Watch for Bitcoin’s double-top before you let the champagne pop.
HODLers on Sesame Street try to silence my video.
Walter E. Williams, a black life that mattered greatly to me.


investmentwatchblog--2020-12-08--UK house prices continue to boom

UK house prices continue to boom

When the Covid-19 pandemic struck the UK one of my first thoughts was that we would finally see some house price falls .
A sharp economic decline accompanied by lower employment and real wages seemed set to drive that .
This is how I summarised the state of play on March 30th .
I have been contacted by various people over the past few days with different stories but a common theme which is that previously viable and successful businesses are either over or in a lot of trouble .
They will hardly be buying .
Even more so are @ @ @ @ @ @ @ have been told about rent reductions too if the tenant has been reliable just to keep a stream of income .
Now this is personal experience and to some extent anecdote but it paints a picture I think .
Those doing well making medical equipment for example are unlikely to have any time to themselves let alone think about property .
At the time the only way looked down to misquote Yazz , and yet this morning we find The Halifax reporting this .
I guess that comes under unexpected headlines of 2020 @ @ @ @ @ @ @ very contrary year , to say the least , The detail of The Halifax report is below .
They are cherry-picking their measure as a five-monthly gain is hardly a metric but nonetheless it is quite a surge in the circumstances .
Also the picture remains the same if we return to more conventional metrics .
So we have the strongest growth since the Leave vote which itself was supposed to bring house prices lower .
Remember the official forecast ?
If we look at the official series house prices were on average @ @ @ @ @ @ @ as of September were £244,513 .
So he must have been expecting quite a boom on top of that !
No doubt the official excuse will be the counterfactual although they may struggle to find someone to say it without laughing aloud .
Looking ahead the picture looks bright too .
We had looked at those numbers on the 30th of November .
What has caused this ?
Let me open with a different factor which gets underplayed and it is the furlough scheme .
Back in January there had been announcements but @ @ @ @ @ @ @ large nor lasting so long .
Much of it will have gone to people who badly need it but some have been able to save ( partly because more than a few opportunities to spend money have been unavailable ) and we have seen the consequence in both the GDP numbers and the money supply ones .
From November 30th .
This is a leakage if you can call it that which has also flowed into the housing market .
Next up is the Stamp Duty cut although if we look at it @ @ @ @ @ @ @ off .
We have seen before that such changes are used as a way to borrow more so that the house price change becomes a multiple of the tax cut .
Last but not least has been the role of the Bank of England which has changed since I posted this on the 30th March .
Whereas as of the end of last week the £645 billion had become £716 billion and rising ( there will be another £1.473 billion today , tomorrow and Wednesday ) .
The new planned total is £895 @ @ @ @ @ @ @ bonds or Gilts plus the completed £20 billion of Corporate Bonds .
I say planned because so far the Bank of England attitude has been to sing along to Luther Vandross .
You may note the Term Funding Scheme got a boost and surprise , surprise it was badged as being for smaller businesses .
Readers have asked me in the past if even this goes into the housing market .
Well of £211.1 billion as of the end of October some £78.1 billion is in the Real Estate , professional services and @ @ @ @ @ @ @ this being quite extraordinary there is another context .
This comes from the fact we are using marginal prices for an average at a time of lower volumes .
One group as I have been reminded today will be excluded from this because they can not sell as at reasonable price and sometimes at any price .
The Bank of England view was expressed by its Chief Economist Andy Haldane in the summer of 2016 .
Note how what is inflation for first-time buters and those trading up is described as a wealth @ @ @ @ @ @ @ the plan to gerrymander the Retail Prices Index by excluding from 2030 its use of house prices and mortgage interest-rates and replacing them with fantasy rents .
They assume if you own your own home you pay rent to yourself and this adds to the issue of the fact they have struggled to measure rents which are paid accurately .
So far they have kept this house of cards going but there are hints of trouble and they come from something I noted at the end of last month .
This is that @ @ @ @ @ @ @ Not by much if you have a large deposit but if you have a small one you have seen quite a change .
If we look at the 2-year fixed-rate data from the Bank of England this morning we see that a 5 % deposit will get you a mortgage rate of 4.1 % rather than the 3 % of a year ago .
So for all the hype about lower interest-rates we see yet another example of a higher one .

by Shaun Richards
When the Covid-19 pandemic struck the UK one of my first thoughts was that we would finally see some house price falls. A sharp economic decline accompanied by lower employment and real wages seemed set to drive that. This is how I summarised the state of play on March 30th.
I have been contacted by various people over the past few days with different stories but a common theme which is that previously viable and successful businesses are either over or in a lot of trouble. They will hardly be buying. Even more so are those who rent a property as I have been told about rent reductions too if the tenant has been reliable just to keep a stream of income. Now this is personal experience and to some extent anecdote but it paints a picture I think. Those doing well making medical equipment for example are unlikely to have any time to themselves let alone think about property.
At the time the only way looked down to misquote Yazz, and yet this morning we find The Halifax reporting this.
House price growth on strongest run since 2004
I guess that comes under unexpected headlines of 2020 which has turned out to be a very contrary year, to say the least, The detail of The Halifax report is below.
House prices rose by more than 1% in November, adding almost £3,000 to the cost of a typical UK home.
At just over £253,000, the average property price has risen by more than £15,000 since June. In percentage terms that equates to 6.5% – the strongest five-monthly gain since 2004.
They are cherry-picking their measure as a five-monthly gain is hardly a metric but nonetheless it is quite a surge in the circumstances. Also the picture remains the same if we return to more conventional metrics.
On a monthly basis, house prices in November were 1.2% higher than in October
In the latest quarter (September to November) house prices were 3.8% higher than in the
preceding three months (June to August)
House prices in November were 7.6% higher than in the same month a year earlier – the
strongest growth since June 2016
So we have the strongest growth since the Leave vote which itself was supposed to bring house prices lower. Remember the official forecast?
House prices could take an 18% hit over the next two years and there will be an “economic shock” that will increase the cost of mortgages if the UK votes to leave the EU,George Osborne has warned. The chancellor said he would publish an official analysis next week saying house prices would be lower by at least 10% and up to 18% compared with what is expected if Britain remains in the EU ( The Guardian)
If we look at the official series house prices were on average just under £213,000 in June 2016 and as of September were £244,513. So he must have been expecting quite a boom on top of that! No doubt the official excuse will be the counterfactual although they may struggle to find someone to say it without laughing aloud.
Looking ahead the picture looks bright too.
Mortgage approvals rose in October to the highest level seen in 13 years. The latest Bank of England
figures show the number of mortgages approved to finance house purchases rose by 6% to 97,532. Year-on-year, the October figure was 51% above October 2019.
We had looked at those numbers on the 30th of November.
What has caused this?
Let me open with a different factor which gets underplayed and it is the furlough scheme. Back in January there had been announcements but it was not expected to be as large nor lasting so long.
The Job Retention Scheme launched on 20 April. By midnight on 15 November there were a total of: 9.6m jobs furloughed 1.2m employers furloughing Total claimed £43bn The Self-Employment Income Support Scheme opened on 17 August. By midnight on 15 November there were a total of: 2.4m claims £5.9bn claimed
Much of it will have gone to people who badly need it but some have been able to save ( partly because more than a few opportunities to spend money have been unavailable) and we have seen the consequence in both the GDP numbers and the money supply ones. From November 30th.
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Households’ deposits increased by the largest amount since May in October (£12.3 billion). This follows a £6.6 billion increase in deposits in September, and an average flow between March and June of £17.4 billion a month.
This is a leakage if you can call it that which has also flowed into the housing market.
Next up is the Stamp Duty cut although if we look at it in isolation buyers are in fact worse off.
It is interesting to note that the stamp duty saving of £2,500 on a home costing £250,000 is now far outweighed by the average increase in property prices since July.
We have seen before that such changes are used as a way to borrow more so that the house price change becomes a multiple of the tax cut.
Last but not least has been the role of the Bank of England which has changed since I posted this on the 30th March.
Over recent weeks, the MPC has reduced Bank Rate by 65 basis points, from 0.75% to 0.1%, and introduced a Term Funding scheme with additional incentives for Small and Medium-sized Enterprises (TFSME). It has also announced an increase in the stock of asset purchases, financed by the issuance of central bank reserves, by £200 billion to a total of £645 billion.
Whereas as of the end of last week the £645 billion had become £716 billion and rising ( there will be another £1.473 billion today,tomorrow and Wednesday). The new planned total is £895 billion or £875 billion of UK government bonds or Gilts plus the completed £20 billion of Corporate Bonds. I say planned because so far the Bank of England attitude has been to sing along to Luther Vandross.
Oh, my love
A million days in your arms is never too much
I just don’t wanna stop
Too much, never too much, never too much, never too much
You may note the Term Funding Scheme got a boost and surprise, surprise it was badged as being for smaller businesses. Readers have asked me in the past if even this goes into the housing market. Well of £211.1 billion as of the end of October some £78.1 billion is in the Real Estate, professional services and support activities category.
Comment
In addition to this being quite extraordinary there is another context. This comes from the fact we are using marginal prices for an average at a time of lower volumes. One group as I have been reminded today will be excluded from this because they cannot sell as at reasonable price and sometimes at any price.
I wonder how they’re accounting for the mostly below average cladding affected flats that are now out of the equation as they cannot be sold. ( @BCLMacro )
The Bank of England view was expressed by its Chief Economist Andy Haldane in the summer of 2016. Note how what is inflation for first-time buters and those trading up is described as a wealth increase.
Finally, let’s look at household wealth. As with employment, the headline gains here have been impressive,
with aggregate net wealth increasing by almost £3 trillion since 2009. Chart 9 breaks down these wealth
gains by asset type – pensions, property, financial, physical. This suggests these gains have come
principally from rises in property and pension wealth. In other words, the gains have been skewed towards
those in society who own their own home or who have sizable pension pots.
That theme has continued with the plan to gerrymander the Retail Prices Index by excluding from 2030 its use of house prices and mortgage interest-rates and replacing them with fantasy rents. They assume if you own your own home you pay rent to yourself and this adds to the issue of the fact they have struggled to measure rents which are paid accurately.
So far they have kept this house of cards going but there are hints of trouble and they come from something I noted at the end of last month. This is that mortgage rates have begun to rise. Not by much if you have a large deposit but if you have a small one you have seen quite a change. If we look at the 2-year fixed-rate data from the Bank of England this morning we see that a 5% deposit will get you a mortgage rate of 4.1% rather than the 3% of a year ago. So for all the hype about lower interest-rates we see yet another example of a higher one.
Podcast


investmentwatchblog--2020-12-08--THIS IS HUGE: Study Finds Asymptomatic Spread Not a Significant Source of the CCP Virus Pandemic.

The most recent study from China on the prevalence of infection after a lockdown found no transmission of the CCP @ @ @ @ @ in close contact with asymptomatic patients , contradicting the current narrative that asymptomatic transmission plays @ @ @ @ @ pandemic .
An asymptomatic carrier is someone who has not displayed symptoms after being infected @ @ @ @ @ virus to others .
This is different from someone who is presymptomatic , meaning the @ @ @ @ @ or look sick , but eventually shows symptoms later , and does transmit the virus @ @ @ @ @ The study , published in Nature , identified 300 asymptomatic positive cases through a massive @ @ @ @ @ nine million Chinese citizens post-lockdown in Wuhan—where the CCP ( Chinese Communist Party ) virus @ @ @ @ @ 1 , using PCR tests .
Samples of all the asymptomatic cases were also cultured @ @ @ @ @ no viable virus ” was found , meaning it can not transmit a virus .

The most recent study from China on the prevalence of infection after a lockdown found no transmission of the CCP virus among people who were in close contact with asymptomatic patients, contradicting the current narrative that asymptomatic transmission plays a major role in the pandemic.
An asymptomatic carrier is someone who has not displayed symptoms after being infected, but may spread the virus to others. This is different from someone who is presymptomatic, meaning the person doesn’t feel or look sick, but eventually shows symptoms later, and does transmit the virus during that presymptomatic phase.
The study, published in Nature, identified 300 asymptomatic positive cases through a massive screening program of more than nine million Chinese citizens post-lockdown in Wuhan—where the CCP (Chinese Communist Party) virus originated—from May 4 to June 1, using PCR tests.
Samples of all the asymptomatic cases were also cultured in the lab and “no viable virus” was found, meaning it cannot transmit a virus.


investmentwatchblog--2020-12-07--Gold And Silver Rise As Bitcoin Stalls (US Dollar Continues Decline)

After several weeks of Bitcoin rising in price with gold declining , the trend has reversed with gold now rising @ @ @ @ @ is rising too along with other metals .

by confoundedinterest17
After several weeks of Bitcoin rising in price with gold declining, the trend has reversed with gold now rising and Bitcoin stalling.
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Silver is rising too along with other metals.
Gold and silver. What a great combo!


investmentwatchblog--2020-12-07--Positively Wall Street? Bob Dylan Sells His Entire Back Catalogue Of 600 Songs For Nine Figures

Universal Music ’ s publishing arm has bought Bob Dylan ’ s entire back catalogue of more than 600 songs @ @ @ @ @ how much the deal was worth but it was likely to have swelled the coffers @ @ @ @ @ wrote “ money doesn ’ t talk , it swears ” by many millions of @ @ @ @ @ said it could be in nine figures .
Including The Man in Me from The @ @ @

by confoundedinterest17
Positively Wall Street?
Universal Music’s publishing arm has bought Bob Dylan’s entire back catalogue of more than 600 songs. UMG declined to say how much the deal was worth but it was likely to have swelled the coffers of the man who once wrote “money doesn’t talk, it swears” by many millions of dollars. The Financial Times said it could be in nine figures.
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Including The Man in Me from The Big Lebowski.
Great bowling scenes!


investmentwatchblog--2020-12-07--Joe Rogan gets defensive when Duncan Trussell suggests that his platform has become popular enough f

Joe Rogan gets defensive when Duncan Trussell suggests that his platform has become popular enough for him to have been compromised. Anyone else think Joe Rogan controlled opposition or a gatekeeper?

Rogan becomes a bit defensive and starts acting abrasive in an attempt to change the subject when Duncan starts talking @ @ @ @ @ often “ compromised ” by the intelligence agencies when they get too large of a @ @

Rogan becomes a bit defensive and starts acting abrasive in an attempt to change the subject when Duncan starts talking about how popular people are often “compromised” by the intelligence agencies when they get too large of a following.
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h/t ludaz


investmentwatchblog--2020-12-07--Hilarious. Watch as news outlets from across the country parrot the same lines about conspiracies on

Hilarious. Watch as news outlets from across the country parrot the same lines about conspiracies on social media.

If you want to know how DEEP the voter fraud goes , watch this

I love these compilations. Goes to show that no matter what news you watch, they are controlled by the same mocking bird actors.
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h/t stopreddcensorship


investmentwatchblog--2020-12-07--Bernie Sanders Goes BERSERK on Stimulus Bill Wish List

This Just In ...
Stimulus plan may NOT include $ 1200 check for those who Need it Most .
There @ @ @ @ @

John Hanson from The Political Insider reports, Democratic senator and self-described socialist Bernie Sanders said Wednesday that, regarding the current bipartisan coronavirus relief proposal, ‘we’ve got to go a lot further than what that proposal now entails.”
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Read More/Source/Credit/FairUse:
thepoliticalinsider.com/berni…


investmentwatchblog--2020-12-07--Chris Vermuelen – Stock Markets, US Dollar, Gold, Silver, Bitcoin, Natural Gas, Oil

Chris Vermeulen has been involved in the markets since 1997 and is the founder of Technical Traders Ltd .
He @ @ @ @ @ analyst , trader , and is the author of the book : 7 Steps to @ @ @ @

Talk Digital Network, Released on 12/5/20
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Chris Vermeulen has been involved in the markets since 1997 and is the founder of Technical Traders Ltd. He is an internationally recognized technical analyst, trader, and is the author of the book: 7 Steps to Win With Logic.


investmentwatchblog--2020-12-07--“We’re Probably Gonna Get Caught” at the 4:16 Mark.

Actual evidence of an actual conspiracy to rig the presidential election of The United States of America against President Donald @ @ @ @ @ an admission of guilt .

Actual evidence of an actual conspiracy to rig the presidential election of The United States of America against President Donald J. Trump.
This is an admission of guilt.
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h/t SuperPwnerGuy


investmentwatchblog--2020-12-07--Andrew Yang on Twitter: “Airlines got $25 billion in bailout money and cut 90,000 workers anyway. We

Andrew Yang on Twitter: “Airlines got $25 billion in bailout money and cut 90,000 workers anyway. We are spending money to prop up companies that should just go directly to people and families.”

After seeing the bar situation in New York and that girl in California with the outdoor dining next to the @ @ @ @ @ this was worthwhile to think about .

Airlines got $25 billion in bailout money and cut 90,000 workers anyway. We are spending money to prop up companies that should just go directly to people and families. — Andrew Yang🧢🇺🇸 (@AndrewYang) December 5, 2020
After seeing the bar situation in New York and that girl in California with the outdoor dining next to the movie industry, I thought this was worthwhile to think about.
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h/t Orangutan


investmentwatchblog--2020-12-07--UN says 2021 will be ‘worst humanitarian crisis year for 75 years’

Next year will be the ‘ worst humanitarian crisis year ’ since the United Nations was formed , top UN @ @ @ @ @ , chief of the World Food Programme , said famine is ‘ knocking at the @ @ @ @ @ countries .
He said next year would be ‘ catastrophic ’ because of the pandemic @ @ @ @ @ countries .
He told the 193-member UN General Assembly on Friday : ‘ We ’ @ @ @ @ @ able to fund everything… so we have to prioritise , as I say , the @ @ @ @ @ Titanic.
’ Coronavirus measures and restrictions around the world have led to a 40 % @ @ @ @ @ people needing humanitarian help , the UN said earlier this week .
It has asked @ @ @ @ @ about £31 billion ) in aid funding .

Next year will be the ‘worst humanitarian crisis year’ since the United Nations was formed, top UN officials warned. David Beasley, chief of the World Food Programme, said famine is ‘knocking at the door’ of a dozen countries. He said next year would be ‘catastrophic’ because of the pandemic’s effect on developing countries. He told the 193-member UN General Assembly on Friday: ‘We’re not going to be able to fund everything… so we have to prioritise, as I say, the icebergs in front of the Titanic.’ Coronavirus measures and restrictions around the world have led to a 40% increase in the number of people needing humanitarian help, the UN said earlier this week. It has asked for $35 billion (about £31 billion) in aid funding.
Read more: metro.co.uk/2020/12/06/un-says-2021-will-be-worst-humanitarian-crisis-year-for-75-years-13710828/?ito=push-notification&ci=58082&si=16141355?ito=cbshare?ito=cbshare
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Twitter: twitter.com/MetroUK | Facebook: www.facebook.com/MetroUK/


investmentwatchblog--2020-12-07--JUST IN – First look at UK’s NHS Vaccination Identity Card released.

JUST IN – First look at UK 's NHS vaccination identity card released .
It will be handed out to @ @ @ @ @ their # COVID19 vaccine .
Card warns in bold : 'Make sure you keep this @ @ @ @ @ or wallet ' pic.twitter.com/Hq3mVjLHZT

JUST IN – First look at UK's NHS vaccination identity card released. It will be handed out to every Brit after they receive their #COVID19 vaccine. Card warns in bold: 'Make sure you keep this record card in your purse or wallet' pic.twitter.com/Hq3mVjLHZT
— Disclose.tv 🚨 (@disclosetv) December 7, 2020


investmentwatchblog--2020-12-07--Netherlands Police Goes FULL RETARD: 3 Cops to molest a 14 year old kid for not doing anything wrong

Just walking in the street without a mask , which is not mandatory outside anyway Watch this Gestapo Filth STARTING @ @ @ @ @ the street where everyone is cooperating and bystanders are calling them TRAITORS , then in @ @ @ @ @ pick on the boy ; Them losing their job would just be the start if @ @ @ @ @ justice left in the Netherlands PIGS ( my other thoughts on this would be breaking @ @ @ @ @ is being arrested is cooperating , and the kid is cooperation , saying “ I @ @ @ @ @ don ’ t hurt me ” And then a third ( ! )
cop starts @ @ @ @

Just walking in the street without a mask, which is not mandatory outside anyway
Watch this Gestapo Filth STARTING a fight with people in the street where everyone is cooperating and bystanders are calling them TRAITORS, then in the end they decide to pick on the boy;
Them losing their job would just be the start if there is any law or justice left in the Netherlands
PIGS (my other thoughts on this would be breaking forum rules)
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Everybody thaat is being arrested is cooperating, and the kid is cooperation, saying “I’ll cooperate, please don’t hurt me”
And then a third(!) cop starts kneeing the kid!
h/t Gorgol


investmentwatchblog--2020-12-07--DECOUPLING: Trump Executive Order Banning Investment In Firms That Aid Chinese Military Opened A ‘Ne

DECOUPLING: Trump Executive Order Banning Investment In Firms That Aid Chinese Military Opened A ‘New Front’ In US-China Economic Policy, Experts Say.

President Donald Trump signed the executive order on Nov. 12 prohibiting Americans from investing in select Chinese firms that support @ @ @ @ @ intelligence and security apparatus .
While Trump has confronted China over economic abuses and through @ @ @ @ @ , the executive order could be one of the most significant actions he has taken @ @ @ @ @ in 2017 .
“ What his administration has done , particularly over the past one-and-a-half @ @ @ @ @ the kitchen sink at China on these technology issues , ” Sourabh Gupta , a @ @ @ @ @ for China-America Studies , told The Daily Caller News Foundation .
“ The fact of @ @ @ @ @ has changed the conversation , ” Gupta said .
“ This had to begin at @ @ @ @ @ He has begun it in an irreversible way .
”

via dailycaller:
President Donald Trump signed the executive order on Nov. 12 prohibiting Americans from investing in select Chinese firms that support China’s military, intelligence and security apparatus. While Trump has confronted China over economic abuses and through an increasingly tense trade war, the executive order could be one of the most significant actions he has taken against China since taking office in 2017.
“What his administration has done, particularly over the past one-and-a-half years, is basically throw the kitchen sink at China on these technology issues,” Sourabh Gupta, a senior fellow at the Institute for China-America Studies, told The Daily Caller News Foundation.
“The fact of the matter is that he has changed the conversation,” Gupta said. “This had to begin at some point of time. He has begun it in an irreversible way.”


investmentwatchblog--2020-12-07--Nike, Apple, & Coca Cola Lobbying US gov to keep China Labor Camp Production for their products, Fra

Nike, Apple, & Coca Cola Lobbying US gov to keep China Labor Camp Production for their products, France Is On Fire, & CNN Gets Exposed

In this loaded episode of Pulling The Focus we talk all about a bank in France being burned down by @ @ @ @ @ , & Coca Cola are lobbying to keep their labor camps in China that make @ @ @ @ @ Cannabis as a less dangerous Drug as well as more Covid-19 updates !

In this loaded episode of Pulling The Focus we talk all about a bank in France being burned down by protestors, Nike, Apple, & Coca Cola are lobbying to keep their labor camps in China that make their products, UN reclassifies Cannabis as a less dangerous Drug as well as more Covid-19 updates!
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investmentwatchblog--2020-12-07--Folks, lock away your money. Liberals are worried you’re saving too much. They want “ideas on how th

Folks, lock away your money. Liberals are worried you’re saving too much. They want “ideas on how the government can act to unlock” those savings.

Liberals are worried you 're saving too much .
They want `` ideas on how the government can act to @ @ @ @ @ No , Trudeau , people 's savings do n't belong to you .
Keep your @ @ @ @ @ them .
pic.twitter.com/p0bfokpibl

Folks, lock away your money.
Liberals are worried you're saving too much.
They want "ideas on how the government can act to unlock" those savings.
No, Trudeau, people's savings don't belong to you.
Keep your hands where we can see them. pic.twitter.com/p0bfokpibl
— pierrepoilievre (@PierrePoilievre) December 5, 2020


investmentwatchblog--2020-12-07--VIDEO: “FIGHT for TRUMP!

VIDEO: “FIGHT for TRUMP!

Hey RINOs and other Quasi Republicans ( local , state , & federal ) , you need to stand up @ @ @ @ @ only a taste of what is to come .
@ realDonaldTrump won by a landslide @ @ @ @ @ to be our next @ POTUS # FightLikeAFlynn @ lofly727 @ RealMFlynnJr t.co/Wt20kKVwGw

streamable.com/k2sih2
Hey RINOs and other Quasi Republicans (local, state, & federal), you need to stand up & #FightForTrump
This is only a taste of what is to come. @realDonaldTrump won by a landslide and is going to continue to be our next @POTUS #FightLikeAFlynn @lofly727 @RealMFlynnJr t.co/Wt20kKVwGw
— General Flynn (@GenFlynn) December 6, 2020


investmentwatchblog--2020-12-07--GEORGIA: “Expert” hired to discredit the fraud claims of Matt Braynard is “either lying or illiterat

GEORGIA: “Expert” hired to discredit the fraud claims of Matt Braynard is “either lying or illiterate.”

Ansolabehere claims that Matt Braynard ’ s report never mentions what fields ( other than ‘ date of birth ’ @ @ @ @ @ matching methodology… Ansolabehere is either lying or illiterate , because Braynard explicitly states ( several @ @ @ @ @ he used Matt Braynard has brought some of the more compelling evidence to the table @ @ @ @ @ s not surprising that the Dems/Rinos put up such a weak effort .

🔔ROUND 1🔔
Ansolabehere claims that @MattBraynard's report never mentions what fields (other than ‘date of birth’) he used in his matching methodology… Ansolabehere is either lying or illiterate, because Braynard explicitly states (several times) the specific fields he used pic.twitter.com/MXr92TNTWU — The Panda Tribune (@PandaTribune) December 7, 2020
🔔ROUND 2 Continued🔔
In fact… the report Ansolabehere cites as a supporting source for his claim… actually RECOMMENDS using nationally available lists, and even specifically mentions the U.S. Postal Service database (NCOA), which @MattBraynard used, as an example! pic.twitter.com/gJYs3yOSi5 — The Panda Tribune (@PandaTribune) December 7, 2020
Extra Bonus…
In ANOTHER published paper authored by Stephen Ansolabehere he writes:
"Even just two pieces—either Name & Date of Birth or Name & Address—identifies nearly all individuals in a database uniquely. 99.6% are unique w/ DoB & Name, 99% are unique w/ Name & Address" pic.twitter.com/NkPQg0xRgD — The Panda Tribune (@PandaTribune) December 7, 2020
For example,
Ansolabehere claims that Matt Braynard’s report never mentions what fields (other than ‘date of birth’) he used in his matching methodology… Ansolabehere is either lying or illiterate, because Braynard explicitly states (several times) the specific fields he used
Matt Braynard has brought some of the more compelling evidence to the table in this entire fiasco…it’s not surprising that the Dems/Rinos put up such a weak effort.
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h/t axolotl_peyotl


investmentwatchblog--2020-12-07--Louie Gohmert: There’s widespread evidence of fraud because people haven’t done their jobs. Durham a

Louie Gohmert: There’s widespread evidence of fraud because people haven’t done their jobs. Durham and Barr will deserve a big notation in history when it’s written about the rise and fall of the U.S.

There ’ s widespread evidence of fraud because people haven ’ t done their jobs .
Durham and Barr will @ @ @ @ @ history when it ’ s written about the rise and fall of the U.S. if @ @ @ @ @ up this mess .
Clean up the fraud .
DO YOUR JOBS & save this @ @ @

There’s widespread evidence of fraud because people haven’t done their jobs. Durham and Barr will deserve a big notation in history when it’s written about the rise and fall of the U.S. if they don’t clean up this mess. Clean up the fraud. DO YOUR JOBS & save this country. pic.twitter.com/RSRctcfQX2
— Louie Gohmert (@replouiegohmert) December 3, 2020


investmentwatchblog--2020-12-07--US and German Intel Warn Of Chinese Software Backdoors!

`` Intelligence Tax '' would be a better fitting name for this Chinese software 🤡

"Intelligence Tax" would be a better fitting name for this Chinese software 🤡
— Disclose.tv 🚨 (@disclosetv) December 7, 2020


investmentwatchblog--2020-12-07--MARK LEVIN: State Constitutions were violated to improperly legalize votes which were once invalid.

MARK LEVIN: State Constitutions were violated to improperly legalize votes which were once invalid. US Supreme Court must act.

Mark Levin on the unconstitutionally of the Pennsylvania election .

Mark Levin on the unconstitutionally of the Pennsylvania election.
US Supreme Court must act.
Video 2 of 4 pic.twitter.com/6gnCG3jfzV
— Don Purser 🇺🇸🇺🇸 (@DGPurser) December 7, 2020


investmentwatchblog--2020-12-07--Good Dig: What if I told you @BrianKempGA was bought and I showed you the meetings, transcripts, and

Good Dig: What if I told you @BrianKempGA was bought and I showed you the meetings, transcripts, and the financial compensation his family received to attempt to hide this transaction?

My thought , just a “ friendly business reminder ” from the DS that he and his family are safe @ @ @ @ @ follows orders .
Others under the DS thumb also take notice .
DS doesn ’ @ @ @ @ @ dispute about this election , it is of the utmost importance to them .
So @ @ @ @ @ assigned officials will continue marching in lock step .
The courts will stymie election disputes @ @ @ @ @ .
Social Media will stifle dissent .
FBI will confiscate evidence and muzzle whistleblowers .
@ @ @ @ @ when needed ( like this b/f death ? )
.
And so much more .
@ @ @ @ @ machine with many coordinated moving parts , all criminal .
They need to make an @ @ @ @ @ keep their people in line .
The only answer always was the Military .

What happened Brian? Money? Influence? Intimidation? Let's move to discovery shall we. pic.twitter.com/pyKp1LqfKt — PioyPioyPioy⭐⭐⭐ (@PioyCOLX) December 6, 2020
#Georgia I'm sorry but it looks like your vote hasn't mattered since 2012~ish Shall I continue? — PioyPioyPioy⭐⭐⭐ (@PioyCOLX) December 6, 2020
I don't think you have a scapegoat this time around @BrianKempGA pic.twitter.com/zP1kONfo6R — PioyPioyPioy⭐⭐⭐ (@PioyCOLX) December 6, 2020
This is…. Very sad to read, but let's continue. pic.twitter.com/4eV9a73imP — PioyPioyPioy⭐⭐⭐ (@PioyCOLX) December 6, 2020
My thought, just a “friendly business reminder” from the DS that he and his family are safe only as long as he follows orders. Others under the DS thumb also take notice. DS doesn’t want to lose any dispute about this election, it is of the utmost importance to them. So the elected, appointed and assigned officials will continue marching in lock step. The courts will stymie election disputes. MSM will provide cover. Social Media will stifle dissent. FBI will confiscate evidence and muzzle whistleblowers. MS13 will provide further enforcement when needed (like this b/f death?). And so much more. It’s a big machine with many coordinated moving parts, all criminal. They need to make an example every so often to keep their people in line.
The only answer always was the Military.
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h/t Lurker17


investmentwatchblog--2020-12-07--VIDEO: Scott Adams: “The Republic is Gone.” and “I F***ing Hate Biden’s Guts.”

This is the best intro to Risk Management video on youtube , even if only one of you watches this @ @ @ @ @ lose everything , then this post will have been worth it .

I tell you how to get the Republic back from the AI, WW3 progress update, asteroids, and voting machines t.co/6yNVRl5o9f
— Scott Adams (@ScottAdamsSays) December 6, 2020


investmentwatchblog--2020-12-07--‘Mysterious’ disease alarm: Some 300 hospitalized, 1 dead in India as medics fail to identify cause

‘Mysterious’ disease alarm: Some 300 hospitalized, 1 dead in India as medics fail to identify cause of patients’ suffering

At least one person has died and hundreds more have been hospitalized due to an unknown illness that has emerged @ @ @ @ @ Medical authorities are scrambling to identify what is causing the health problems .
Residents of @ @ @ @ @ located in the Indian state of Andhra Pradesh , have been rushed to hospital after @ @ @ @ @ , vomiting , and epilepsy-like symptoms .
Around 300 people have been treated for the @ @ @ @ @ with more than 140 patients being discharged after receiving medical care , according to NDTV @ @ @ @ @ 44,000 School Buses Use `` FirstACTS '' To Secretly Identify And Track The Behavior of @ @ @

At least one person has died and hundreds more have been hospitalized due to an unknown illness that has emerged in Eluru, India. Medical authorities are scrambling to identify what is causing the health problems.
Residents of the city, which is located in the Indian state of Andhra Pradesh, have been rushed to hospital after suffering from dizziness, headaches, vomiting, and epilepsy-like symptoms. Around 300 people have been treated for the unexplained illness in total, with more than 140 patients being discharged after receiving medical care, according to NDTV, citing health officials. We are primarily funded by readers. Please subscribe and donate to support us!
www.rt.com/news/508861-india-msysterious-illness-1-dead-eluru/


investmentwatchblog--2020-12-07--Venezuela just held elections of it’s national assembly – Nicolas Maduro and party take full control

Juan Guaido wasn ’ t even on the ballot • The win gives Maduro control of the last major branch of government outside his grasp .
• It plays out in the waning days of the Trump administration , which leaves office with Maduro firmly entrenched despite its efforts to bring about his departure through diplomacy and sanctions .
Venezuelan President Nicolás Maduro ’ s political alliance claimed a sweeping victory Monday in congressional elections boycotted by the most influential opposition politicians and widely criticized internationally as being fraudulent .
The win gives Maduro control of the last major branch @ @ @ @ @ @ @ plays out in the waning days of the Trump administration , which leaves office with Maduro firmly entrenched despite its efforts to bring about his departure through diplomacy and sanctions .
“ We have recovered the National Assembly with the majority vote of the Venezuelan people , ” Maduro said in a televised address .
“ It ’ s a great victory without a doubt for democracy.
” Maduro ’ s United Socialist Party of Venezuela and allied parties captured 67 % of seats in the National Assembly in Sunday ’ s election @ @ @ @ @ @ @ Venezuela ’ s National Electoral Council .
Just 31 % of the 20 million registered voters participated in the election , she said .

Juan Guaido wasn’t even on the ballot
Venezuela’s Maduro claims sweep of boycotted election
The win gives Maduro control of the last major branch of government outside his grasp.
It plays out in the waning days of the Trump administration, which leaves office with Maduro firmly entrenched despite its efforts to bring about his departure through diplomacy and sanctions.
Venezuelan President Nicolás Maduro’s political alliance claimed a sweeping victory Monday in congressional elections boycotted by the most influential opposition politicians and widely criticized internationally as being fraudulent.
The win gives Maduro control of the last major branch of government outside his grasp. It plays out in the waning days of the Trump administration, which leaves office with Maduro firmly entrenched despite its efforts to bring about his departure through diplomacy and sanctions.
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“We have recovered the National Assembly with the majority vote of the Venezuelan people,” Maduro said in a televised address. “It’s a great victory without a doubt for democracy.”
Maduro’s United Socialist Party of Venezuela and allied parties captured 67% of seats in the National Assembly in Sunday’s election, said Indira Alfonzo, president of Venezuela’s National Electoral Council. Just 31% of the 20 million registered voters participated in the election, she said.
www.cnbc.com/2020/12/07/venezuelas-maduro-claims-sweep-of-boycotted-election.html