investmentwatchblog--2020-07-05--How Tesla Became More Valuable Than Exxon

It is now becoming increasingly clear that the world ’ s most popular electric vehicle manufacturer is an all-weather play that simply will not stop .
Tesla Inc. ( NASDAQ : TSLA ) shares soared 9 percent on Monday ’ s session to close at a new all-time high of $ 1,208.34 after the company soundly beat delivery expectations for the second quarter .
The Palo Alto , California-based EV manufacturer delivered 90,650 vehicles , easily smashing the Wall Street consensus of 83,000 units .
The highest forecast was for ~86,000 units .
The latest rally means TSLA shares have @ @ @ @ @ @ @ the company a valuation bigger than that of oil and gas giant ExxonMobil ( NYSE : XOM ) at $ 224.05B vs. $ 186.38B .
In sharp contrast , XOM stock is down 36.8 percent YTD .
Further , Tesla ’ s market cap is now bigger than Toyota Motor ’ s $ 205.2B , making it the most valuable automaker in the world .
It ’ s also several times bigger than the combined valuation of the U.S. ‘ Big Three ’ : General Motors ( NYSE : GM ) , Ford @ @ @ @ @ @ @ and Fiat Chrysler Automobiles US ( NYSE : FCAU ) with market caps of $ 36.12B , $ 24.07B and $ 20.13B , respectively .
That ’ s a pretty remarkable feat by the company , given the backdrop of the massive COVID-19 economic fallout and demand destruction .
But more importantly , it ’ s proving that even ultra-low oil prices can not kill Tesla or stop the green revolution .
Tesla reported that production was down 20 percent to 82,272 units mainly due to the closure of the main factory in @ @ @ @ @ @ @ though the company reported that production has returned to prior levels .
Tesla deliveries represented a 5 percent Y/Y decline , which would have given the bears a field day under any other circumstances .
However , the decline was far smaller than expectations and relatively tame compared to that by its ICE cousins , the majority of whom recorded double-digit declines .
General Motors sold 492,489 vehicles during the second quarter , good for a 3 percent Y/Y decline ; Ford sales were down 33.3 percent to 433,869 with the popular F-Series @ @ @ @ @ @ @ Fiat Chrysler suffered the biggest decline at 39 percent after managing to sell only 367,086 vehicles .
Even more niche brands like Honda only managed to move 6,380 units , marking a 23 percent drop .
Tesla is defying bearish expectations that ultra-low oil prices would destroy the bullish thesis .
In a past article , we reported that some analysts predicted a bleak future for Tesla due to persistently low oil prices .
Mark Wakefield , global co-head of the automotive and industrial practice at AlixPartners , has argued that low oil @ @ @ @ @ @ @ people to purchase EVs since lower fuel/operating costs were top on the list of reasons why they were ditching their gas guzzlers .
However , we debunked that line of thinking by pointing out that fueling a Tesla was still considerably cheaper than filling at the pump .
For instance , this handy tool provided by the U.S. Department of Energy estimates that an eGallon currently costs $ 1.21 compared to the $ 2.17 national average for a gallon of regular petrol as per the AAA .
Further , gas prices have remained @ @ @ @ @ @ @ yet Tesla has mostly remained resilient save for a few blips here and there .
The million-dollar question right now is whether or not Tesla deserves its lofty valuation .
At the current share price , the market is valuing the company more as a tech play than an auto manufacturer .
Tesla is on course to deliver 500K vehicles in the current year and could quadruple that to 2 million vehicles annually by 2030 , according to Morgan Stanley .
Still , a $ 1,000+ share price means investors expect it to @ @ @ @ @ @ @ the decade , which might be asking for too much even from Tesla .
With the clean energy transition and ESG drive in full swing , it ’ s likely that investors also expect Tesla ’ s solar business and battery business to grow in tandem with its core EV line .
According to Piper Sandler ’ s Alexander Potter and Winnie Dong , Tesla could convert its hordes of loyal EV customers to buyers of its solar products by convincing them that charging their vehicles using coal-based electricity isn ’ t very @ @ @ @ @ @ @ store their own solar power .
However , these are merely auxiliary businesses generating less than 10 percent of the company ’ s revenue at the moment .
The latest rally confirms Tesla ’ s growing billing as a cult stock .
Wall Street remains lukewarm on TSLA stock , with only one in four analysts rating the shares a Buy , which is less than the average 55 percent Buy-rating ratio for Dow stocks .
Tesla will come under plenty of scrutiny in the coming quarters as the bears wait to pounce @ @ @ @ @ @ @ likely to make the stock quite volatile , though it remains a sound long-term bet .

By Alex Kimani
It is now becoming increasingly clear that the world’s most popular electric vehicle manufacturer is an all-weather play that simply will not stop. Tesla Inc. (NASDAQ: TSLA) shares soared 9 percent on Monday’s session to close at a new all-time high of $1,208.34 after the company soundly beat delivery expectations for the second quarter. The Palo Alto, California-based EV manufacturer delivered 90,650 vehicles, easily smashing the Wall Street consensus of 83,000 units. The highest forecast was for ~86,000 units.
The latest rally means TSLA shares have nearly tripled in the year-to-date, giving the company a valuation bigger than that of oil and gas giant ExxonMobil (NYSE: XOM) at $224.05B vs. $186.38B. In sharp contrast, XOM stock is down 36.8 percent YTD.
Further, Tesla’s market cap is now bigger than Toyota Motor’s $205.2B, making it the most valuable automaker in the world.
It’s also several times bigger than the combined valuation of the U.S. ‘Big Three’: General Motors (NYSE: GM), Ford Motor Company (NYSE: F) and Fiat Chrysler Automobiles US (NYSE: FCAU) with market caps of $36.12B, $24.07B and $20.13B, respectively.
That’s a pretty remarkable feat by the company, given the backdrop of the massive COVID-19 economic fallout and demand destruction. But more importantly, it’s proving that even ultra-low oil prices cannot kill Tesla or stop the green revolution.
Defying Bearish Expectations
Tesla reported that production was down 20 percent to 82,272 units mainly due to the closure of the main factory in Fremont for much of the quarter, though the company reported that production has returned to prior levels.
Tesla deliveries represented a 5 percent Y/Y decline, which would have given the bears a field day under any other circumstances. However, the decline was far smaller than expectations and relatively tame compared to that by its ICE cousins, the majority of whom recorded double-digit declines.
General Motors sold 492,489 vehicles during the second quarter, good for a 3 percent Y/Y decline; Ford sales were down 33.3 percent to 433,869 with the popular F-Series recording a 22.7 percent drop, while Fiat Chrysler suffered the biggest decline at 39 percent after managing to sell only 367,086 vehicles. Even more niche brands like Honda only managed to move 6,380 units, marking a 23 percent drop.
Tesla is defying bearish expectations that ultra-low oil prices would destroy the bullish thesis.
We are primarily funded by readers. Please subscribe and donate to support us!
In a past article, we reported that some analysts predicted a bleak future for Tesla due to persistently low oil prices. Mark Wakefield, global co-head of the automotive and industrial practice at AlixPartners, has argued that low oil prices would act as a disincentive for people to purchase EVs since lower fuel/operating costs were top on the list of reasons why they were ditching their gas guzzlers.
However, we debunked that line of thinking by pointing out that fueling a Tesla was still considerably cheaper than filling at the pump. For instance, this handy tool provided by the U.S. Department of Energy estimates that an eGallon currently costs $1.21 compared to the $2.17 national average for a gallon of regular petrol as per the AAA.
Further, gas prices have remained fairly low over the past half-decade, yet Tesla has mostly remained resilient save for a few blips here and there.
Lofty Valuation
The million-dollar question right now is whether or not Tesla deserves its lofty valuation.
At the current share price, the market is valuing the company more as a tech play than an auto manufacturer. Tesla is on course to deliver 500K vehicles in the current year and could quadruple that to 2 million vehicles annually by 2030, according to Morgan Stanley. Still, a $1,000+ share price means investors expect it to sell ~4 million/year by the turn of the decade, which might be asking for too much even from Tesla.
With the clean energy transition and ESG drive in full swing, it’s likely that investors also expect Tesla’s solar business and battery business to grow in tandem with its core EV line. According to Piper Sandler’s Alexander Potter and Winnie Dong, Tesla could convert its hordes of loyal EV customers to buyers of its solar products by convincing them that charging their vehicles using coal-based electricity isn’t very green and they should instead generate and store their own solar power. However, these are merely auxiliary businesses generating less than 10 percent of the company’s revenue at the moment.
The latest rally confirms Tesla’s growing billing as a cult stock. Wall Street remains lukewarm on TSLA stock, with only one in four analysts rating the shares a Buy, which is less than the average 55 percent Buy-rating ratio for Dow stocks.
Tesla will come under plenty of scrutiny in the coming quarters as the bears wait to pounce on any execution missteps. This is likely to make the stock quite volatile, though it remains a sound long-term bet.
By Alex Kimani for Oilprice.com


investmentwatchblog--2020-07-05--The Hawks are Out for Trumps’ Blood

The Hawks are Out for Trumps’ Blood

First , there was John Bolton who claimed he was the smoking gun to impeach Trump .
His book has revealed that he was not the smoking gun at all .
Now we have Dick Cheney ’ s daughter , Liz Cheney , joining Bill Kristol in trying to overthrow Trump .
You find elite Republicans are preferring a Democrat to Trump because they will invade countries .
Trump refuses to force American boys to die for the agendas of the elite .
This is really quite amazing , but it reveals how the DEEP STATE hates outsiders .
Many @ @ @ @ @ @ @ the Kennedy files of his assassination , claiming national security since 1964 , which likely means they killed him because he would not invade Vietnam .
If it was really Russia , they would release that right now to justify war .
The only reason not to release it is that the CIA was involved .
The fact that now Dick Cheney ’ s daughter Liz Cheney , is against Trump as was Bolton confirms this is the same problem they had with Kennedy .
They will do their best to defeat him @ @ @ @ @ @ @ to assassinate him like Kennedy .

by Martin Armstrong
First, there was John Bolton who claimed he was the smoking gun to impeach Trump. His book has revealed that he was not the smoking gun at all. Now we have Dick Cheney’s daughter, Liz Cheney, joining Bill Kristol in trying to overthrow Trump. You find elite Republicans are preferring a Democrat to Trump because they will invade countries. Trump refuses to force American boys to die for the agendas of the elite. This is really quite amazing, but it reveals how the DEEP STATE hates outsiders.
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Many believe that the CIA refuses to release the Kennedy files of his assassination, claiming national security since 1964, which likely means they killed him because he would not invade Vietnam. If it was really Russia, they would release that right now to justify war. The only reason not to release it is that the CIA was involved.
The fact that now Dick Cheney’s daughter Liz Cheney, is against Trump as was Bolton confirms this is the same problem they had with Kennedy. They will do their best to defeat him and rig the elections rather than try to assassinate him like Kennedy.


investmentwatchblog--2020-07-05--Nomi Prins – Living in a Permanent Distortion. Gold and Fed Debt Go Up Together

Three time best-selling book author Nomi Prins says gold prices are going to “ follow the expansion of the Fed ’ s balance sheet.
” It is that simple , and Prins predicts , “ As we saw in the wake of the financial crisis of 2008 , gold and silver will have the ability to go up quite substantially as the Fed ’ s book increases in size , which we know it is going to do .
We have been told that multiple times by many different words by Federal Reserve Chairman Jerome Powell.
” In closing , @ @ @ @ @ @ @ to drive up asset bubbles where we don ’ t have the real economy to back it up .
The more this ‘ Permanent Distortion ’ gets bigger , the more the likelihood the next crisis will happen .
.
.
and it will be from a higher height .
It will be from a larger bubble , a bigger snowball accelerating downward more quickly .
I don ’ t think we are out of this crisis .
I think the markets are going to have a bumpy ride as the economy has @ @ @ @ @

Three time best-selling book author Nomi Prins says gold prices are going to “follow the expansion of the Fed’s balance sheet.” It is that simple, and Prins predicts, “As we saw in the wake of the financial crisis of 2008, gold and silver will have the ability to go up quite substantially as the Fed’s book increases in size, which we know it is going to do. We have been told that multiple times by many different words by Federal Reserve Chairman Jerome Powell.”
We are primarily funded by readers. Please subscribe and donate to support us!
In closing, Prins says, “We are continuing to drive up asset bubbles where we don’t have the real economy to back it up. The more this ‘Permanent Distortion’ gets bigger, the more the likelihood the next crisis will happen . . . and it will be from a higher height. It will be from a larger bubble, a bigger snowball accelerating downward more quickly. I don’t think we are out of this crisis. I think the markets are going to have a bumpy ride as the economy has a bumpier ride.”


investmentwatchblog--2020-07-05--Record rise in global Covid-19 cases as virus surges in US, Brazil and India, Bubonic Plague Case Re

Record rise in global Covid-19 cases as virus surges in US, Brazil and India, Bubonic Plague Case Reported in China’s Inner Mongolia

The highest number of cases were recorded in the US in the 24-hour period .
The World Health Organisation ( @ @ @ @ @ record-high number of Covid-19 cases in a 24 hour period .
Approximately 212,326 cases were @ @ @ @ @ Saturday .
The previous record number of cases was set on 28 June , when @ @ @ @ @ The highest number of Covid-19 diagnoses were made in the US , where 53,215 cases @ @ @ @ @ has nearly three million confirmed cases – or a quarter of all the world ’ @ @ @ @ @ second-highest number of cases in the 24-hour window with 48,105 and India followed with 22,771 @ @ @ @ @ 19,694 new cases were recorded .
A hospital in northern China ’ s Inner Mongolia @ @ @ @ @ bubonic plague on Saturday , according to a statement on the local health commission ’ @ @ @ @ @ warning alert was issued on Sunday ; the warning period will extend to the end @ @ @ @ @ like nobody will get to live until Christmas .

The highest number of cases were recorded in the US in the 24-hour period.
The World Health Organisation (WHO) has reported a record-high number of Covid-19 cases in a 24 hour period.
Approximately 212,326 cases were recorded over 24 hours to Saturday. The previous record number of cases was set on 28 June, when 189,077 cases were recorded.
The highest number of Covid-19 diagnoses were made in the US, where 53,215 cases were reported. The US has nearly three million confirmed cases – or a quarter of all the world’s cases
Brazil recorded the second-highest number of cases in the 24-hour window with 48,105 and India followed with 22,771 cases.
Across Europe, 19,694 new cases were recorded.
We are primarily funded by readers. Please subscribe and donate to support us!
inews.co.uk/news/world/record-rise-covid-19-us-brazil-india-479848
A hospital in northern China’s Inner Mongolia reported one suspected case of bubonic plague on Saturday, according to a statement on the local health commission’s website.
A third-level warning alert was issued on Sunday; the warning period will extend to the end of this year.
www.bnnbloomberg.ca/bubonic-plague-case-reported-in-china-s-inner-mongolia-1.1460774
Seems like nobody will get to live until Christmas.
AC


investmentwatchblog--2020-07-05--VIDEO: Black Lives Matter Protesters Admit Their Goal is a Communist Revolution, Nothing Less – Viol

VIDEO: Black Lives Matter Protesters Admit Their Goal is a Communist Revolution, Nothing Less – Violent Overthrow, Not Voting (NSFW)

Refuse Fascism , a front group for the Revolutionary Communist Party , and BLM protesters outside the White House : @ @ @ @ @ in order to overthrow this system and bring a whole new communist world into being @ @ @ @ @ FordFischer.pic.twitter.com/mzEA1Az2G0

Refuse Fascism, a front group for the Revolutionary Communist Party, and BLM protesters outside the White House: “We need a revolution in order to overthrow this system and bring a whole new communist world into being."
Video by @FordFischer.pic.twitter.com/mzEA1Az2G0
— Andy Ngô (@MrAndyNgo) July 5, 2020


investmentwatchblog--2020-07-05--History Repeating Itself? What Did The Last Empire To Have Enormous Debt Problems Do?

by Jason Burack of Wall St For Main St The last empire before the US , the British Empire , @ @ @ @ @ and was running a massive welfare/warfare state with very high taxes , rules and regulations @ @ @ @ @ of England ( BOE ) do to deal with the high debt and to try @ @ @ @ @ government and the welfare/warfare state ?
It did very large currency devaluations over a 4 @ @ @ @ @ England ’ s post WW1 economy had high taxes , high inflation and high unemployment @ @ @ @ @ and tax and lie ” before the term “ stagflation ” to describe high inflation @ @ @ @ @ was even invented .
Commit to tipping us monthly for our hard work creating high @ @ @ @ @ that includes interviews with top experts , analysis and short videos about investing and the @ @

by Jason Burack of Wall St For Main St
The last empire before the US, the British Empire, had an enormous debt problem and was running a massive welfare/warfare state with very high taxes, rules and regulations.
What did the Bank of England (BOE) do to deal with the high debt and to try to maintain the size of government and the welfare/warfare state? It did very large currency devaluations over a 4 decade period from 1931-1967.
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England’s post WW1 economy had high taxes, high inflation and high unemployment. It was “stagflate and tax and lie” before the term “stagflation” to describe high inflation and high unemployment happening simultaneously was even invented.
FULL SHOW NOTES AND LINKS HERE
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investmentwatchblog--2020-07-05--Exponentially Worse Than 2008: Weimar & Zimbabwe Squared Is Coming

Here is a joint statement from Lagarde and Powell at a secret G7 meeting with all Leaders and Finance Chiefs of the seven nations attending as well as the IMF and BIS : “ The financial system has been on the verge of collapse since September 2019 when we started Repos and QE .
And since then it has only got worse .
The coronavirus hit us at a time when the banking system was almost down and out .
We had enough problems saving the banks .
But now we must save big corporations , small companies , individuals @ @ @ @ @ @ @ Federal State and this on top of rescuing a financial system which is deteriorating by the day .
The whole system is leaking like a sieve and we are struggling to keep it all afloat .
Fortunately we have printing presses and that helps to keep it all going but only just .
Our big fear is that the market will realise that all the money we are printing is worthless .
And it is of course but we can ’ t tell anyone .
But if the world wakes up to this @ @ @ @ @ @ @ could implode in a matter of days .
And we would be totally helpless to stop it……… ” And this dear readers is where the world stands today .
On the verge of an implosion of the whole financial system .
Just a small crack could push the whole system into a black hole .
All that is needed is a severe second wave of CV-19 or a bank collapse , triggering an implosion of debt markets and the whole system .
Yes , we know the world was in a similar situation @ @ @ @ @ @ @ trillion more in debt and who knows how many additional $ 100s of trillions of derivatives plus a world economy disintegrating – it is now exponentially worse from a risk point of view .
We must also remember that bad debts in the financial system are going up by the minute with most borrowers under severe financial pressure .
Just look at the chart below how bad debts follow unemployment .
The banks haven ’ t reported this yet but we will see it in the next couple of quarters .
So why @ @ @ @ @ @ @ chiefs tell the truth ?
Well , maybe they are , in their own CB Speak .
ECB President Christine Lagarde said the recovery from the coronavirus pandemic will be “ restrained ” and will change parts of the economy permanently .
And Powell recently said : ” The path ahead is likely to be challenging .
Lives and livelihoods have been lost , and uncertainty looms large.
” So “ restrained ” and “ challenging ” is as far as they can stretch without panicking the world .
They would obviously never @ @ @ @ @ @ @ soon be gone .
This is why people must figure it out themselves .
But they won ’ t of course until it is too late .
Most people have never had to worry about risk in the financial system since until now they have been saved by the CBs .
With more than 50 years in business you learn a lot of lessons on the way .
As a young man , when acquiring my MBA back in 1969 I had to learn everything about Keynesian economics , only understanding much later @ @ @ @ @ @ @ first job was in commercial lending in a Swiss Bank .
Those were the days when the Swiss banking system was run on conservative principles .
That was the perfect training for analysing and understanding risk and very different from the massive leverage of today with minimal capital backing .
My real grounding in dealing with risk was at Dixons .
At the time it was a small listed UK business which we built up to the UK ’ s leading consumer electronics retailer and a FTSE 100 company .
I was first @ @ @ @ @ @ @ and a few years later Executive Vice-Chairman .
Dixons was founded by a Jewish entrepreneur who was a superb businessman and retailer .
It was a steep learning curve .
He is now 88 and still as sharp as ever .
One of our principles was to always panic early but in a controlled manner .
For example , if there was a substantial downturn in consumer spending , we implemented major cost reductions across the company within a few days .
And if we made major acquisitions , we quickly sold off @ @ @ @ @ @ @ to conservative levels .
By being financially prudent and commercially aggressive , we managed to grow the company fast without taking excessive risks .
We survived without pressure both the oil crisis in the early 1970s and the coal miners ’ strike which led to having electricity only 3 days a week .
The other days we sold televisions with the help of candle lights .
Low leverage and low debt were the key .
So , very different to today with massive debts and leverage .
And that is why no individual @ @ @ @ @ @ @ crisis without massive state aid .
In recent times , no one has been taught to save or build up a nest egg for a rainy day .
When things go well , all the money is spent and when they go badly , you either borrow money or the state has to help .
This goes for individuals as well as for big corporations .
DEBTS AND DEFICITS – THE MODERN MANTRA OF FINANCE With low or zero interest rates and the value of money constantly declining , there is clearly no @ @ @ @ @ @ @ governments and central banks are setting very poor examples .
But how can you expect people to be prudent when their governments and central banks have for decades been running deficits and printing money .
Debts and deficits are the mantra of modern finance .
But what no one seems to understand is that this mantra has become a chronic disease which is killing the world a lot faster than the coronavirus .
The world ’ s central banks are now in the process of outshining both Weimar and Zimbabwe .
Together with @ @ @ @ @ @ @ $ 18 trillion since CV started .
And since the Great Financial crisis started in 2006 they have more than doubled global debt from $ 125 trillion to over $ 275 trillion but that is just the beginning .
We talk about billions , trillions and quadrillions as if we understood what it means but nobody really does .
It is absolutely impossible to fathom what a trillion is .
Let ’ s start by counting to one trillion .
It will take you 32,000 years .
And then you would have to @ @ @ @ @ @ @ make a mistake – nor start from the beginning again .
Ok , so the $ 18T just created globally , how long would that take ?
Almost 600,000 years .
FED & ECB QE HAS ZERO VALUE So clearly totally unrealistic and impossible .
Whenever this magnitude of money has been manufactured before , like Weimar , it has always been totally worthless .
And it is this time too !
This magnitude of debt can never be serviced at a market rate .
Only at near Zero or negative rates .
@ @ @ @ @ @ @ earned money .
$ 18T represents 22 % of Global GDP .
And since almost all countries have deficits today , there is absolutely ZERO chance that this debt will ever be serviced or repaid in future .
Remember that the US has not had a proper budget surplus since 1960 .
( Please don ’ t write to me about the Clinton years .
They were fake surpluses as debt continued to increase ) .
Virtually all the money created by the US government and the Fed in the last 20 years @ @ @ @ @ @ @ created at will out of thin air is by definition fake .
If all that was required to print the $ 10s of trillions was to press a button and nothing was produced by way of goods or services , then the money has ZERO value .
I know I keep stressing the previous point over and over again .
This is done so that at least a few people can understand what is likely to happen next and therefore prepare themselves and their financial situation .
So why don ’ t Powell @ @ @ @ @ @ @ bank actions are destroying the economy and the value of the country ’ s money .
The dollar has lost 86 % in this century and the Euro 82 % , measured in real money .
Real money is of course gold since it represents constant purchasing power and is the only money which has survived in history .
THE JOURNEY TO ZERO WON ’ T BE LONG !
There is an ominous disconnect between equity values and profits .
As the chart below shows , values have doubled since 2012 with profits @ @ @ @ @ @ @ profits are crashing and stocks will follow .
The Dow correction up finished on May 8 and is now resuming the downtrend .
All the V recovery optimists are going to get a real shock .
The monthly Dow peaked in January 2020 , see chart , and the downtrend was confirmed well before CV started to trouble markets .
I have been saying in the last couple of weeks that a resumption of the stock market downtrend is imminent and it seems clear that imminent is now .
Most market participants will @ @ @ @ @ @ @ crash down below the March lows and long term much , much lower .
Many have feared that the precious metals will initially fall with stocks but this seems unlikely to be the case .
On the contrary , it looks like Gold is now breaking above the important $ 1,770 level .
Since the Gold Maginot Line was broken a year ago at $ 1,350 , gold is up over $ 400 or 30 % .
The 6 year consolidation since 2013 has built up a lot of energy that will take @ @ @ @ @ @ @ next move .
There has been a massive fight to hold Silver below the $ 18 level .
It seems the LBMA boys are now losing the fight as silver has gone through the $ 18 level which it has held below since 2014 with 3 months ’ exception in 2016 .
This Silver Maginot Line is even more significant than the Gold one as it comes from a much lower level of 64 % below the $ 50 peak .
Once through , we are likely to see a silver explosion and @ @ @ @ @ @ @ .
“ Furthermore I consider that Carthage must be destroyed ” is what Cato the Elder said at the end of every speech he gave in the Roman Senate prior to the 3rd Punic war 149-146 BC .
In the end his persistence paid off and Carthage a Phoenician City in North Africa was destroyed .
I learnt this phrase in Latin at school and also about Roman history and it has stuck ever since .
The reason why I mention this is that I , like Cato , normally finish most my @ @ @ @ @ @ @ that you must hold gold for wealth preservation purposes and not for gains measured in phoney paper money which is about to be totally debased .
Hopefully not just my historical understanding of gold but also my passion and persistence will help a few people to avoid ruin in coming years .
P.S .
The secret G7 meeting discussed at the beginning of this article obviously never took place .
But it should have !

by Egon von Greyerz of Gold Switzerland
Here is a joint statement from Lagarde and Powell at a secret G7 meeting with all Leaders and Finance Chiefs of the seven nations attending as well as the IMF and BIS:
“The financial system has been on the verge of collapse since September 2019 when we started Repos and QE. And since then it has only got worse. The coronavirus hit us at a time when the banking system was almost down and out. We had enough problems saving the banks. But now we must save big corporations, small companies, individuals, local municipalities and states, the Federal State and this on top of rescuing a financial system which is deteriorating by the day. The whole system is leaking like a sieve and we are struggling to keep it all afloat. Fortunately we have printing presses and that helps to keep it all going but only just. Our big fear is that the market will realise that all the money we are printing is worthless. And it is of course but we can’t tell anyone. But if the world wakes up to this one day soon, the financial system could implode in a matter of days. And we would be totally helpless to stop it………”
EXPONENTIALLY WORSE THAN 2008 – A BLACK HOLE
And this dear readers is where the world stands today. On the verge of an implosion of the whole financial system. Just a small crack could push the whole system into a black hole.
All that is needed is a severe second wave of CV-19 or a bank collapse, triggering an implosion of debt markets and the whole system.
Yes, we know the world was in a similar situation in 2008 but with over $100 trillion more in debt and who knows how many additional $100s of trillions of derivatives plus a world economy disintegrating – it is now exponentially worse from a risk point of view.
We must also remember that bad debts in the financial system are going up by the minute with most borrowers under severe financial pressure. Just look at the chart below how bad debts follow unemployment. The banks haven’t reported this yet but we will see it in the next couple of quarters.
TELLING THE TRUTH IS A REVOLUTIONARY ACT
So why don’t the Fed and ECB chiefs tell the truth? Well, maybe they are, in their own CB Speak.
ECB President Christine Lagarde said the recovery from the coronavirus pandemic will be “restrained” and will change parts of the economy permanently. And Powell recently said: ”The path ahead is likely to be challenging. Lives and livelihoods have been lost, and uncertainty looms large.”
So “restrained” and “challenging” is as far as they can stretch without panicking the world. They would obviously never warn bank depositors that their money will soon be gone. This is why people must figure it out themselves. But they won’t of course until it is too late.
LESSONS IN RISK
Most people have never had to worry about risk in the financial system since until now they have been saved by the CBs.
With more than 50 years in business you learn a lot of lessons on the way. As a young man, when acquiring my MBA back in 1969 I had to learn everything about Keynesian economics, only understanding much later how wrong it all was.
My first job was in commercial lending in a Swiss Bank. Those were the days when the Swiss banking system was run on conservative principles. That was the perfect training for analysing and understanding risk and very different from the massive leverage of today with minimal capital backing.
My real grounding in dealing with risk was at Dixons. At the time it was a small listed UK business which we built up to the UK’s leading consumer electronics retailer and a FTSE 100 company. I was first a green 29 year old Finance Director and a few years later Executive Vice-Chairman. Dixons was founded by a Jewish entrepreneur who was a superb businessman and retailer. It was a steep learning curve. He is now 88 and still as sharp as ever.
One of our principles was to always panic early but in a controlled manner. For example, if there was a substantial downturn in consumer spending, we implemented major cost reductions across the company within a few days. And if we made major acquisitions, we quickly sold off dead or liquid assets to reduce leverage to conservative levels.
By being financially prudent and commercially aggressive, we managed to grow the company fast without taking excessive risks. We survived without pressure both the oil crisis in the early 1970s and the coal miners’ strike which led to having electricity only 3 days a week. The other days we sold televisions with the help of candle lights.
Low leverage and low debt were the key. So, very different to today with massive debts and leverage. And that is why no individual and no company can survive a serious crisis without massive state aid. In recent times, no one has been taught to save or build up a nest egg for a rainy day. When things go well, all the money is spent and when they go badly, you either borrow money or the state has to help. This goes for individuals as well as for big corporations.
DEBTS AND DEFICITS – THE MODERN MANTRA OF FINANCE
With low or zero interest rates and the value of money constantly declining, there is clearly no incentive to save whatsoever. Also, governments and central banks are setting very poor examples.
But how can you expect people to be prudent when their governments and central banks have for decades been running deficits and printing money. Debts and deficits are the mantra of modern finance. But what no one seems to understand is that this mantra has become a chronic disease which is killing the world a lot faster than the coronavirus.
WEIMAR & ZIMBABWE SQUARED IS COMING
The world’s central banks are now in the process of outshining both Weimar and Zimbabwe. Together with governments they have globally printed and borrowed $18 trillion since CV started. And since the Great Financial crisis started in 2006 they have more than doubled global debt from $125 trillion to over $275 trillion but that is just the beginning.
We talk about billions, trillions and quadrillions as if we understood what it means but nobody really does. It is absolutely impossible to fathom what a trillion is. Let’s start by counting to one trillion. It will take you 32,000 years. And then you would have to count very fast, never hesitate nor make a mistake – nor start from the beginning again. Ok, so the $18T just created globally, how long would that take? Almost 600,000 years.
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FED & ECB QE HAS ZERO VALUE
So clearly totally unrealistic and impossible. Whenever this magnitude of money has been manufactured before, like Weimar, it has always been totally worthless. And it is this time too!
This magnitude of debt can never be serviced at a market rate. Only at near Zero or negative rates. It can never be repaid with properly earned money. $18T represents 22% of Global GDP. And since almost all countries have deficits today, there is absolutely ZERO chance that this debt will ever be serviced or repaid in future. Remember that the US has not had a proper budget surplus since 1960. (Please don’t write to me about the Clinton years. They were fake surpluses as debt continued to increase).
Virtually all the money created by the US government and the Fed in the last 20 years is totally worthless. Because any money created at will out of thin air is by definition fake. If all that was required to print the $10s of trillions was to press a button and nothing was produced by way of goods or services, then the money has ZERO value.
I know I keep stressing the previous point over and over again. This is done so that at least a few people can understand what is likely to happen next and therefore prepare themselves and their financial situation.
So why don’t Powell and Lagarde tell the people that central bank actions are destroying the economy and the value of the country’s money.
The dollar has lost 86% in this century and the Euro 82%, measured in real money. Real money is of course gold since it represents constant purchasing power and is the only money which has survived in history.
THE JOURNEY TO ZERO WON’T BE LONG!
MARKETS
Stocks
There is an ominous disconnect between equity values and profits. As the chart below shows, values have doubled since 2012 with profits stagnant 2012-19. Now in 2020, profits are crashing and stocks will follow.
The Dow correction up finished on May 8 and is now resuming the downtrend. All the V recovery optimists are going to get a real shock. The monthly Dow peaked in January 2020, see chart, and the downtrend was confirmed well before CV started to trouble markets.
I have been saying in the last couple of weeks that a resumption of the stock market downtrend is imminent and it seems clear that imminent is now. Most market participants will be shocked as stocks around the world crash down below the March lows and long term much, much lower.
Gold & Silver
Many have feared that the precious metals will initially fall with stocks but this seems unlikely to be the case.
On the contrary, it looks like Gold is now breaking above the important $1,770 level. Since the Gold Maginot Line was broken a year ago at $1,350, gold is up over $400 or 30%. The 6 year consolidation since 2013 has built up a lot of energy that will take gold to over $2,000 in the next move.
There has been a massive fight to hold Silver below the $18 level. It seems the LBMA boys are now losing the fight as silver has gone through the $18 level which it has held below since 2014 with 3 months’ exception in 2016. This Silver Maginot Line is even more significant than the Gold one as it comes from a much lower level of 64% below the $50 peak. Once through, we are likely to see a silver explosion and a sharp fall in the gold/silver ratio.
Praeterea censeo Carthaginem esse delendam – Cato the Elder
3rd Punic War 149 – 146 BC
“Furthermore I consider that Carthage must be destroyed” is what Cato the Elder said at the end of every speech he gave in the Roman Senate prior to the 3rd Punic war 149-146 BC. In the end his persistence paid off and Carthage a Phoenician City in North Africa was destroyed.
I learnt this phrase in Latin at school and also about Roman history and it has stuck ever since.
The reason why I mention this is that I, like Cato, normally finish most my articles in the same way, namely that you must hold gold for wealth preservation purposes and not for gains measured in phoney paper money which is about to be totally debased.
Hopefully not just my historical understanding of gold but also my passion and persistence will help a few people to avoid ruin in coming years.
P.S. The secret G7 meeting discussed at the beginning of this article obviously never took place. But it should have!
Egon von Greyerz
Founder and Managing Partner
Matterhorn Asset Management
Zurich, Switzerland
Phone: +41 44 213 62 45


investmentwatchblog--2020-07-06--Violent Crime Is Surging Dramatically In Major Cities All Over America

What we are witnessing all over the country right now is incredibly sad .
In the aftermath of the tragic death of George Floyd , it would have been wonderful to see the entire nation unite behind an effort to make our society less violent , more just and more peaceful .
But instead , we have seen a tremendous explosion of violence and lawlessness that doesn ’ t seem likely to end any time soon .
Violent crime rates are surging in major city after major city , and the 4th of July weekend was particularly bad .
At @ @ @ @ @ @ @ in New York City during the holiday weekend , and this continues a trend that we have seen throughout the first half of 2020 .
Just check out these numbers… According to figures released by the New York Police Department , for the first six months of this year , there were 176 murders , an increase of 23 percent on the 143 killed during the same period last year .
The number of shooting victims has gone up 51 percent to 616 this year .
In June alone , there were 250 @ @ @ @ @ @ @ month last year .
Month-on-month , burglaries are up 119 percent and car thefts up 48 percent .
I don ’ t know which one of those numbers is the worst , because they are all quite horrific .
A tremendous amount of money has been shifted away from the NYPD budget , and that certainly isn ’ t going to help matters .
For years , the hard work of the NYPD had helped to make New York safer than many of our other major cities , but now that is changing @ @ @ @ @ @ @ .
In fact , one British news source is now referring to the city as “ lawless New York ” … Two bullet-ridden bodies lay sprawled on bloodstained concrete steps .
Alongside , relatives of the victims are wailing and collapse to the ground .
In another part of the city , a gang of youths use spray paint to disable security cameras before robbing a corner store .
Later , video footage captures police officers sitting helplessly in their patrol car as a baying crowd hurls glass bottles at them .
This @ @ @ @ @ @ @ that was once America ’ s glittering crown jewel but which risks descending into mob rule .
Of course New York still has a long way to go if it wants to rival Chicago .
According to authorities , there are more than 100,000 gang members living in Chicago at this point , and the violence never seems to stop .
Sadly , the last couple of days have been particularly bad .
Over the 4th of July weekend , at least 67 people were hit by gunfire in the Windy City… But @ @ @ @ @ @ @ Chicago Sun-Times seem to think that “ cutting funding for police could lead to a better and safer Chicago ” .
Do people actually believe such nonsense ?
Philadelphia is another major city that is seeing a massive increase in violent crime at the same time funding for the police is being cut back… Most Americans desperately want their neighborhoods to feel safe , and this could be the one issue that could rescue the Republicans from a potential disaster in the November election .
Right now , most Democrats are extremely hesitant @ @ @ @ @ @ @ that we have been witnessing all over the nation , and that is a huge mistake .
And we definitely witnessed more alarming violence during the political protests that were held over the past few days .
For example , protesters in Portland were launching projectiles and shooting fireworks at police officers in Portland for hours .
If Democrats want to win over independent voters , they can not be seen as siding with such violence .
By engaging in such utter lawlessness , these radical protesters are actually hurting their own cause @ @ @ @ @ @ @ help President Trump .
The more violence that we see , the more the American people are going to want it to stop .
If tens of millions of voters believe that “ Joe Biden ’ s America ” is an America filled with rioting , looting and violence , that could potentially be enough to push Trump over the top in November .
So Joe Biden ’ s unwillingness to strongly call for law and order may turn out to be his Achilles heel .
The way national elections are won in @ @ @ @ @ @ @ of confused people in the middle , and right now the images of these protests that those confused people are viewing on their television screens are definitely not helping Democrats .
For example , over the weekend protesters in New York were burning American flags as they chanted “ America was never great ” … Does anyone out there actually think that such stunts will make the confused people in the middle more likely to vote for Democrats ?
Right now , Trump is way behind in the polls , but if he @ @ @ @ @ @ @ the campaign over the next several months he may still have a chance of winning .
But no matter who wins in November , it appears that we have now entered a new era of violence and rioting in this country .
Many of our major cities already resemble war zones , and what we have experienced so far is just the beginning .

by Michael Snyder
What we are witnessing all over the country right now is incredibly sad. In the aftermath of the tragic death of George Floyd, it would have been wonderful to see the entire nation unite behind an effort to make our society less violent, more just and more peaceful. But instead, we have seen a tremendous explosion of violence and lawlessness that doesn’t seem likely to end any time soon. Violent crime rates are surging in major city after major city, and the 4th of July weekend was particularly bad. At least 41 people were hit by gunfire in New York City during the holiday weekend, and this continues a trend that we have seen throughout the first half of 2020. Just check out these numbers…
According to figures released by the New York Police Department, for the first six months of this year, there were 176 murders, an increase of 23 percent on the 143 killed during the same period last year. The number of shooting victims has gone up 51 percent to 616 this year. In June alone, there were 250 shootings compared to 97 in the same month last year. Month-on-month, burglaries are up 119 percent and car thefts up 48 percent.
I don’t know which one of those numbers is the worst, because they are all quite horrific.
A tremendous amount of money has been shifted away from the NYPD budget, and that certainly isn’t going to help matters. For years, the hard work of the NYPD had helped to make New York safer than many of our other major cities, but now that is changing at a pace that is absolutely breathtaking. In fact, one British news source is now referring to the city as “lawless New York”…
Two bullet-ridden bodies lay sprawled on bloodstained concrete steps. Alongside, relatives of the victims are wailing and collapse to the ground. In another part of the city, a gang of youths use spray paint to disable security cameras before robbing a corner store. Later, video footage captures police officers sitting helplessly in their patrol car as a baying crowd hurls glass bottles at them. This is lawless New York – a city that was once America’s glittering crown jewel but which risks descending into mob rule.
Of course New York still has a long way to go if it wants to rival Chicago. According to authorities, there are more than 100,000 gang members living in Chicago at this point, and the violence never seems to stop.
Sadly, the last couple of days have been particularly bad. Over the 4th of July weekend, at least 67 people were hit by gunfire in the Windy City…
At least 67 people were shot, including 13 fatally, over the Independence Day weekend in Chicago, according to authorities. Nine of the weekend’s victims were minors, and two children died, officials told Fox32. That includes 14-year-old boy who was among four people who were killed in the South Side neighborhood Englewood on Saturday evening.
But instead of blaming the criminals, the Chicago Sun-Times seem to think that “cutting funding for police could lead to a better and safer Chicago”.
Seriously?
Do people actually believe such nonsense?
Philadelphia is another major city that is seeing a massive increase in violent crime at the same time funding for the police is being cut back…
Shootings are up 67 percent. Victims of armed violence are up 29 percent. Homicides are up 25 percent. So of course it makes sense to defund the Philadelphia PD by $19 million.
Most Americans desperately want their neighborhoods to feel safe, and this could be the one issue that could rescue the Republicans from a potential disaster in the November election.
We are primarily funded by readers. Please subscribe and donate to support us!
Right now, most Democrats are extremely hesitant to speak out against the violent protests that we have been witnessing all over the nation, and that is a huge mistake.
And we definitely witnessed more alarming violence during the political protests that were held over the past few days. For example, protesters in Portland were launching projectiles and shooting fireworks at police officers in Portland for hours. If Democrats want to win over independent voters, they cannot be seen as siding with such violence.
Law enforcement in downtown Portland have been under attack for hours at the federal courthouse by antifa extremists. They hurl projectile weapons at police & when officers respond, go on social media tagging politicians & lawyers claiming police brutality pic.twitter.com/K6I3sxw7jS — Andy Ngô (@MrAndyNgo) July 3, 2020
By engaging in such utter lawlessness, these radical protesters are actually hurting their own cause, because it is only going to help President Trump.
The more violence that we see, the more the American people are going to want it to stop. If tens of millions of voters believe that “Joe Biden’s America” is an America filled with rioting, looting and violence, that could potentially be enough to push Trump over the top in November.
So Joe Biden’s unwillingness to strongly call for law and order may turn out to be his Achilles heel.
The way national elections are won in America is by winning over the millions of confused people in the middle, and right now the images of these protests that those confused people are viewing on their television screens are definitely not helping Democrats. For example, over the weekend protesters in New York were burning American flags as they chanted “America was never great”…
FAR left protesters have burned American flags outside Trump Tower and the White House. Video shows the Stars and Stripes being burned just outside the White House as the demonstrators chanted “America was never great”.
Does anyone out there actually think that such stunts will make the confused people in the middle more likely to vote for Democrats?
Right now, Trump is way behind in the polls, but if he makes these protesters the central issue of the campaign over the next several months he may still have a chance of winning.
But no matter who wins in November, it appears that we have now entered a new era of violence and rioting in this country.
Many of our major cities already resemble war zones, and what we have experienced so far is just the beginning.


investmentwatchblog--2020-07-06--Black lives matter is a scam

Black lives matter is a scam

In short , BLM is a desperate last minute attempt to raise campaign funds for Joe Biden .
It isn @ @ @ @ @ , it ’ s registered as a for-profit corp .

In short, BLM is a desperate last minute attempt to raise campaign funds for Joe Biden. It isn’t even a non-profit, it’s registered as a for-profit corp.
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h/t jomtienislife


investmentwatchblog--2020-07-06--Confirmed: Facebook complicit in Black Lives Matter terrorists organizing criminal attacks on innoce

Confirmed: Facebook complicit in Black Lives Matter terrorists organizing criminal attacks on innocent people

( Natural News ) The recent Black Lives Matter ( BLM ) riot and shooting that occurred in Provo , Utah , was made possible by none other than Facebook , which reportedly facilitated the mob in organizing the terrorist acts that took place on that dreadful day .
Far Left Watch has uncovered solid evidence proving that this latest “ protest , ” which resulted in an innocent person being shot while inside a vehicle , was organized by a violent Antifa cell that still has a “ group ” presence on Facebook , despite its known inclinations towards @ @ @ @ @ @ @ that it posted to Facebook , the “ Salt Lake City Antifascist Coalition , ” as it calls itself , included a violent quote from Malcolm X insinuating that sometimes it is necessary to take up arms in order to accomplish one ’ s agenda .
“ Sometimes you have to pick the gun up to put the gun down , ” it read , following by instructions to “ protesters ” to “ wear all black , ” “ wear masks , ” and “ wear protective eye gear.
” All of @ @ @ @ @ @ @ true agenda behind this “ protest : ” to cause as much trouble as possible while remaining anonymous with black garb and veiled faces .
Were this same event to have been posted by a conservative group with the same quote and instructions , Facebook more than likely would have flagged it for “ hate ” and “ violence.
” But because it was Antifa and BLM , Facebook allowed it to persist , resulting in serious injury to at least one individual , as well as lots of property destruction .
“ @ @ @ @ @ @ @ ’ drew a pistol and fired multiple rounds into the window of the car , ” Far Left Watch reports .
“ Fortunately , local law enforcement is taking this shooting very seriously and the shooter has been identified and charged.
” Mike Adams , the Health Ranger , talked more about this horrific incident during a recent segment of The Health Ranger Report , which is available below : It ’ s time to sue Facebook for facilitating terrorist violence against Americans Since Facebook seems to have no problem whatsoever censoring conservatives @ @ @ @ @ @ @ agenda , it is appalling that the platform does not feel the same urgency in prioritizing the removal of content and groups that actively foment violence .
Keep in mind that Jesse Taggart , the 33-year-old terrorist who was arrested and charged with attempted aggravated murder , aggravated assault , rioting , and firing a weapon near a highway is a known agitator with an extensive social media history of supporting extremist behavior in association with BLM .
Not only was Taggart involved in trying to murder a motorist , but he also @ @ @ @ @ @ @ trapped this motorist and others in the middle of the street , making them open game for Taggart and his fellow BLM terrorists .
The victim , by the way , is a 60-year-old man who is currently being treated at an area hospital for his injuries .
Authorities have not released his identity , however , John Geyerman , deputy chief of the Provo Police Department , issued a statement outlining Taggart ’ s alleged crimes .
“ The male protester ran toward the SUV on the passenger side , pointed a @ @ @ @ @ @ @ one round through the window , ” Geyerman is quoted as saying .
“ The driver , who was struck by the bullet , accelerated , trying to leave the situation .
The same protester ran after the vehicle and fired a second shot that went through the rear passenger window.
” Facebook as a complicit party in this violence also deserves to be sued , and our hope is that the victim and his family pursue justice against this far-left social media platform .
To keep up with the latest news about @ @ @ @ @ @ @ , check out Chaos.news .

by: Ethan Huff
(Natural News) The recent Black Lives Matter (BLM) riot and shooting that occurred in Provo, Utah, was made possible by none other than Facebook, which reportedly facilitated the mob in organizing the terrorist acts that took place on that dreadful day.
Far Left Watch has uncovered solid evidence proving that this latest “protest,” which resulted in an innocent person being shot while inside a vehicle, was organized by a violent Antifa cell that still has a “group” presence on Facebook, despite its known inclinations towards terrorism.
In the official event description that it posted to Facebook, the “Salt Lake City Antifascist Coalition,” as it calls itself, included a violent quote from Malcolm X insinuating that sometimes it is necessary to take up arms in order to accomplish one’s agenda.
“Sometimes you have to pick the gun up to put the gun down,” it read, following by instructions to “protesters” to “wear all black,” “wear masks,” and “wear protective eye gear.”
All of this taken in context clearly indicates the true agenda behind this “protest:” to cause as much trouble as possible while remaining anonymous with black garb and veiled faces.
Were this same event to have been posted by a conservative group with the same quote and instructions, Facebook more than likely would have flagged it for “hate” and “violence.” But because it was Antifa and BLM, Facebook allowed it to persist, resulting in serious injury to at least one individual, as well as lots of property destruction.
“… one of these so-called ‘anti-fascists’ drew a pistol and fired multiple rounds into the window of the car,” Far Left Watch reports. “Fortunately, local law enforcement is taking this shooting very seriously and the shooter has been identified and charged.”
Mike Adams, the Health Ranger, talked more about this horrific incident during a recent segment of The Health Ranger Report, which is available below:
It’s time to sue Facebook for facilitating terrorist violence against Americans
Since Facebook seems to have no problem whatsoever censoring conservatives for things like disagreeing with the LGBTQ agenda, it is appalling that the platform does not feel the same urgency in prioritizing the removal of content and groups that actively foment violence.
We are primarily funded by readers. Please subscribe and donate to support us!
Keep in mind that Jesse Taggart, the 33-year-old terrorist who was arrested and charged with attempted aggravated murder, aggravated assault, rioting, and firing a weapon near a highway is a known agitator with an extensive social media history of supporting extremist behavior in association with BLM.
Not only was Taggart involved in trying to murder a motorist, but he also helped set up the illegal roadblock that trapped this motorist and others in the middle of the street, making them open game for Taggart and his fellow BLM terrorists.
The victim, by the way, is a 60-year-old man who is currently being treated at an area hospital for his injuries. Authorities have not released his identity, however, John Geyerman, deputy chief of the Provo Police Department, issued a statement outlining Taggart’s alleged crimes.
“The male protester ran toward the SUV on the passenger side, pointed a handgun at the driver, and shot one round through the window,” Geyerman is quoted as saying. “The driver, who was struck by the bullet, accelerated, trying to leave the situation. The same protester ran after the vehicle and fired a second shot that went through the rear passenger window.”
Facebook as a complicit party in this violence also deserves to be sued, and our hope is that the victim and his family pursue justice against this far-left social media platform.
To keep up with the latest news about BLM and Antifa violence against innocent Americans, check out Chaos.news.
Sources for this article include:
BigLeaguePolitics.com
FarLeftWatch.com
NaturalNews.com


investmentwatchblog--2020-07-06--Second Covid Wave Could Send Oil Prices Into “Tailspin”

Oil prices hit a four-month high on Thursday , pushed higher by supply restrictions and a global rebound in demand .
However , the accelerating spread of the coronavirus across the United States represents a major red flag , threatening another downturn .
Experts had long warned that a second wave might be possible , but the sudden spike of cases across much of the U.S. has caught many state governments off guard .
Cases in Texas , Arizona and Florida are nearing “ apocalyptic ” levels , an infectious disease specialist at Baylor told CNN .
The U.S. is @ @ @ @ @ @ @ now routinely topping 50,000 .
“ It ’ s really shocking for the market to see US reported infections hitting new highs by the day .
News that Thursday was a day of yet another record sobered up the market today and led prices a bit lower , erasing some of the week ’ s earlier gains , ” Rystad Energy ’ s oil market analyst , Louise Dickson , said in a statement .
“ If this trend continues , oil demand in the region is at risk.
” Dickson added : @ @ @ @ @ @ @ restrictions can restrict the spread of the virus currently in the US and if lockdowns are applied again nationwide the second wave will hit the country ’ s oil demand hard.
” The U.S. is not alone .
Coronavirus continues to spread like wildfire in Brazil , India and other parts of the globe .
Even as forecasts vary , oil market analysts have consistently projected a steady rebound in demand over the course of 2020 .
Very few factor in a “ second wave ” into their baseline forecast .
For instance @ @ @ @ @ @ @ down by 8.1 million barrels per day ( mb/d ) for all of 2020 , with most of those losses concentrated in the second quarter .
Demand collapsed in April , but has come back since then , and the agency sees a swift rebound in the second half of this year .
The IEA sees demand rising by 5.7 mb/d in 2021 .
But a broader “ second wave ” presents the possibility of another hit to crude demand , throwing all the scenarios of a steady tightening trajectory out the window @ @ @ @ @ @ @ that oil demand could plunge to 86.5 million barrels per day ( mb/d ) for 2020 , down another 2.5 mb/d from the firm ’ s base-case forecast of 89 mb/d .
The second wave scenario from Rystad sees a demand hit in the period of August to October , as the economic impact from the current spread of infections really begins to be felt .
All told , by December , oil demand could be 5 mb/d lower in the event of the second wave relative to the base-case , Rystad said @ @ @ @ @ @ @ that in some ways the second wave is not theoretical , as it is demonstrably unfolding in the United States and elsewhere ( or , according to some , we are actually still witnessing the first wave , which never ended ) .
The second wave does not destroy demand in the same way as the first wave did , as most governments refrain from dropping the hammer by imposing strict and far-reaching lockdown measures this time around .
Instead , more targeted closures prevent the historic plunge in oil demand seen earlier @ @ @ @ @ @ @ have picked up optimism over the past two months , betting on steady improvement , the second wave poses serious risks .
“ [ A ] n unexpected dip of any magnitude will send the oil price into a tailspin , whether swift and sharp , or long and painful , ” Rystad warned .
This presents quite a conundrum for OPEC+ .
The one-month extension of the production cuts is slated to expire at the end of this month .
The group has signaled a desire to ease production cuts , letting @ @ @ @ @ @ @ of 7.7 mb/d beginning in August .
But adding 2 mb/d back onto the market just as demand suffers another shock would be sub-optimal for crude prices , to say the least .
At the same time , producers are itching to unwind production cuts .
“ OPEC will not hold back for ever , and will ramp up its production again from August , ” Commerzbank said on Friday .
In short , while prices had been picking up steam on the expectation of tightened supplies and rising demand , the market @ @ @ @ @ @ @ supply could come back as demand falls all over again .
“ At this point , OPEC+ is the single supply tool to materially tighten the market , but it faces massive storage build-ups as an adversary , ” Rystad said .
“ And if there is a second wave , that storage headache is going to greatly worsen as implied builds again rise.
” Without the ability to drain inventories , and with supply rebounding at a time when demand contracts because of the second wave , there is little room for @ @ @ @ @ @ @ added .

By Nick Cunningham
Oil prices hit a four-month high on Thursday, pushed higher by supply restrictions and a global rebound in demand. However, the accelerating spread of the coronavirus across the United States represents a major red flag, threatening another downturn. Experts had long warned that a second wave might be possible, but the sudden spike of cases across much of the U.S. has caught many state governments off guard. Cases in Texas, Arizona and Florida are nearing “apocalyptic” levels, an infectious disease specialist at Baylor told CNN. The U.S. is breaking new records, with daily cases now routinely topping 50,000.
“It’s really shocking for the market to see US reported infections hitting new highs by the day. News that Thursday was a day of yet another record sobered up the market today and led prices a bit lower, erasing some of the week’s earlier gains,” Rystad Energy’s oil market analyst, Louise Dickson, said in a statement. “If this trend continues, oil demand in the region is at risk.”
Dickson added: “It seems that only new enforced restrictions can restrict the spread of the virus currently in the US and if lockdowns are applied again nationwide the second wave will hit the country’s oil demand hard.”
The U.S. is not alone. Coronavirus continues to spread like wildfire in Brazil, India and other parts of the globe.
Even as forecasts vary, oil market analysts have consistently projected a steady rebound in demand over the course of 2020. Very few factor in a “second wave” into their baseline forecast. For instance, the International Energy Agency sees demand down by 8.1 million barrels per day (mb/d) for all of 2020, with most of those losses concentrated in the second quarter. Demand collapsed in April, but has come back since then, and the agency sees a swift rebound in the second half of this year. The IEA sees demand rising by 5.7 mb/d in 2021.
But a broader “second wave” presents the possibility of another hit to crude demand, throwing all the scenarios of a steady tightening trajectory out the window. One forecast from Rystad Energy finds that oil demand could plunge to 86.5 million barrels per day (mb/d) for 2020, down another 2.5 mb/d from the firm’s base-case forecast of 89 mb/d. The second wave scenario from Rystad sees a demand hit in the period of August to October, as the economic impact from the current spread of infections really begins to be felt. All told, by December, oil demand could be 5 mb/d lower in the event of the second wave relative to the base-case, Rystad said. It’s important to note that in some ways the second wave is not theoretical, as it is demonstrably unfolding in the United States and elsewhere (or, according to some, we are actually still witnessing the first wave, which never ended).
We are primarily funded by readers. Please subscribe and donate to support us!
The second wave does not destroy demand in the same way as the first wave did, as most governments refrain from dropping the hammer by imposing strict and far-reaching lockdown measures this time around. Instead, more targeted closures prevent the historic plunge in oil demand seen earlier this year.
But because the markets have picked up optimism over the past two months, betting on steady improvement, the second wave poses serious risks. “[A]n unexpected dip of any magnitude will send the oil price into a tailspin, whether swift and sharp, or long and painful,” Rystad warned.
This presents quite a conundrum for OPEC+. The one-month extension of the production cuts is slated to expire at the end of this month. The group has signaled a desire to ease production cuts, letting the 9.7 mb/d deal loosen to cuts of 7.7 mb/d beginning in August. But adding 2 mb/d back onto the market just as demand suffers another shock would be sub-optimal for crude prices, to say the least.
At the same time, producers are itching to unwind production cuts. “OPEC will not hold back for ever, and will ramp up its production again from August,” Commerzbank said on Friday.
In short, while prices had been picking up steam on the expectation of tightened supplies and rising demand, the market could flip in the opposite direction: supply could come back as demand falls all over again.
“At this point, OPEC+ is the single supply tool to materially tighten the market, but it faces massive storage build-ups as an adversary,” Rystad said. “And if there is a second wave, that storage headache is going to greatly worsen as implied builds again rise.” Without the ability to drain inventories, and with supply rebounding at a time when demand contracts because of the second wave, there is little room for oil prices to rise, the firm added.
By Nick Cunningham of Oilprice.com


investmentwatchblog--2020-07-06--Trumps Sends Last Warning To [DS]/MSM, Flynn Confirms, Silent No More

The [ DS ] /MSM are pushing the events as hard as possible , they are pushing the virus angle @ @ @ @ @ ism angle , but the silent majority is no longer silent .
Trump gives the @ @ @ @ @ final warning , watch what happens next .
Flynn family take the oath , Flynn @ @ @ @ @ confirmed .

The [DS]/MSM are pushing the events as hard as possible, they are pushing the virus angle, they are pushing the ism angle, but the silent majority is no longer silent. Trump gives the [DS]/MSM a final warning, watch what happens next. Flynn family take the oath, Flynn uses the phrase WWG1WGA, confirmed.
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MEANWHILE….IN FILTHADELPHIA

Beak nosed Mayor Kenney can successfully tear down statues of previous mayors and allow rioters to destroy businesses , but @ @ @ @ @ to set the record for most murders ever .
I ’ m sure glad I @ @ @ @ @ that shithole of a city ever again .

by Jim Quinn
We are primarily funded by readers. Please subscribe and donate to support us!
Beak nosed Mayor Kenney can successfully tear down statues of previous mayors and allow rioters to destroy businesses, but at least he is going to set the record for most murders ever. I’m sure glad I never have to drive into that shithole of a city ever again.
Philly: 10 people shot in 24 hours.
Holmesburg: 6-year-old boy shot dead in his home.
Port Richmond: 37-year-old woman dead, shot 12 times in the torso.
Point Breeze: 20-year-old man dead, shot multiple times in the head.
Over 800 shootings so far this year. 205 dead. Up 23%. t.co/I4MeliUDSx — Philly Talk (@PhillyTalk) July 6, 2020


investmentwatchblog--2020-07-06--What Makes You Think the Stock Market Will Even Exist in 2024?

Given the extremes of the stock market ’ s frauds and even greater extremes of wealth/income inequality it has created , tell me again why the stock market will still exist in 2024 ?
When I read a financial pundit predicting a bull market in stocks through 2024 , blah-blah-blah , I wonder : what makes you think the stock market will even exist in 2024 , at least in its current form ?
Given the current trajectory of the real economy into the Greatest Depression while the Federal Reserve ’ s entire raison d ’ etre is to send @ @ @ @ @ @ @ ever , what are the odds that this disconnect leads to a political rebellion against the Fed and its wealth inequality machine , the stock market ?
Just as Communism was a god that failed , finance capitalism is also a god that failed , an extreme version of crony-capitalism that is nothing more than a mechanism for concentrating wealth and power at the expense of everyone toiling in the real-world economy .
And if we understand this , then we also understand that with its stock buybacks , high-frequency trading and after-hours @ @ @ @ @ @ @ more than finance capitalism ’ s mechanism for increasing the concentration of wealth .
Should this awareness move from the few who currently understand the depravity and unsustainability of finance capitalism to the general public , why would they allow the skimming machine of the stock market to continue pillaging the nation ?
Once the novelty of toppling symbols of oppression ( statues , etc . )
wears thin , people might start showing some interest in the actual sources of real-world oppression , which will lead them to the Federal Reserve and @ @ @ @ @ @ @ , the stock market .
Recall that when a corporation spends $ 10 billion on stock buybacks , it creates zero jobs , zero productive capacity , zero goods and zero services : all it does is supercharge the wealth of those who already own most of the corporation ’ s stock .
This is why stock buybacks were illegal until finance capitalism conquered the political machinery of governance .
People who look into this fraud will discover the $ 10 billion was printed up by the Federal Reserve and made available to @ @ @ @ @ @ @ You might have noticed that your share of the $ 6.2 trillion the Fed has printed and given away as free money for financiers since 2008 is , well , zero .
This was not an oversight ; this asymmetry is the core feature of American central banking and finance : 100 % for us , none for you .
High-frequency trading is another massive crony-capitalist fraud in which financiers , hedge funds and other pay-to-play nabobs of finance capitalism skim billions of dollars by manipulating the flow of stock market trade orders @ @ @ @ @ @ @ political class ( and paid good money for them , too ) , this fraud is of course entirely legal .
Should the Fed ’ s baby , the stock market , ever experience a flutter , the Fed ’ s proxy manipulators goose the market higher in after-hours or pre-market trading , where the low volume is tailor-made for manipulation .
All this fraud and manipulation has given the Fed ’ s skimming machine a veneer of omnipotence , as if the Fed is eternal .
It isn ’ t .
Like @ @ @ @ @ @ @ torn down once the populace traces their impoverishment and powerlessness to the Fed and its wealth-concentrating skimming mechanisms , starting with the stock market .
While the take-home earnings of the bottom 90 % have stagnated for two decades , the wealth and income of the top 0.1 % has skyrocketed .
The top 5 % of speculators , technocrats and insiders have done very well , and the next 5 % –the apparatchik/professional class–have been thrown enough crumbs that they labor under the illusion that they ’ re “ sharing the wealth @ @ @ @ @ @ @ top 0.1 % .
Given the extremes of the stock market ’ s frauds and even greater extremes of wealth/income inequality this skimming operation has created , tell me again why the stock market will still exist in 2024 ?
The aristocrats in France reckoned the Bastille was eternal as well .
It wasn ’ t , and neither is the looting machine known as the stock market .

by Charles Hugh-Smith
Given the extremes of the stock market’s frauds and even greater extremes of wealth/income inequality it has created, tell me again why the stock market will still exist in 2024?
When I read a financial pundit predicting a bull market in stocks through 2024, blah-blah-blah, I wonder: what makes you think the stock market will even exist in 2024, at least in its current form?
Given the current trajectory of the real economy into the Greatest Depression while the Federal Reserve’s entire raison d’etre is to send stocks soaring to the moon forever and ever, what are the odds that this disconnect leads to a political rebellion against the Fed and its wealth inequality machine, the stock market?
Just as Communism was a god that failed, finance capitalism is also a god that failed, an extreme version of crony-capitalism that is nothing more than a mechanism for concentrating wealth and power at the expense of everyone toiling in the real-world economy.
And if we understand this, then we also understand that with its stock buybacks, high-frequency trading and after-hours manipulation, the stock market is nothing more than finance capitalism’s mechanism for increasing the concentration of wealth.
Should this awareness move from the few who currently understand the depravity and unsustainability of finance capitalism to the general public, why would they allow the skimming machine of the stock market to continue pillaging the nation?
(The appeal of the stock market as a casino game amateurs can easily win is part of its marketing, but like the casinos in Las Vegas, the number of punters who reap consistent gains and hold onto their newfound wealth for five years or longer is near-zero. That’s the plan, of course; win a few bucks today and lose everything over time.)
Once the novelty of toppling symbols of oppression (statues, etc.) wears thin, people might start showing some interest in the actual sources of real-world oppression, which will lead them to the Federal Reserve and finance capitalism’s primary skimming machine, the stock market.
Recall that when a corporation spends $10 billion on stock buybacks, it creates zero jobs, zero productive capacity, zero goods and zero services: all it does is supercharge the wealth of those who already own most of the corporation’s stock.
We are primarily funded by readers. Please subscribe and donate to support us!
This is why stock buybacks were illegal until finance capitalism conquered the political machinery of governance.
People who look into this fraud will discover the $10 billion was printed up by the Federal Reserve and made available to an elite of financiers and corporations. You might have noticed that your share of the $6.2 trillion the Fed has printed and given away as free money for financiers since 2008 is, well, zero. This was not an oversight; this asymmetry is the core feature of American central banking and finance: 100% for us, none for you.
High-frequency trading is another massive crony-capitalist fraud in which financiers, hedge funds and other pay-to-play nabobs of finance capitalism skim billions of dollars by manipulating the flow of stock market trade orders. Since they own the regulators and political class (and paid good money for them, too), this fraud is of course entirely legal.
Should the Fed’s baby, the stock market, ever experience a flutter, the Fed’s proxy manipulators goose the market higher in after-hours or pre-market trading, where the low volume is tailor-made for manipulation.
All this fraud and manipulation has given the Fed’s skimming machine a veneer of omnipotence, as if the Fed is eternal. It isn’t. Like the Bastille, the Fed can be torn down once the populace traces their impoverishment and powerlessness to the Fed and its wealth-concentrating skimming mechanisms, starting with the stock market.
While the take-home earnings of the bottom 90% have stagnated for two decades, the wealth and income of the top 0.1% has skyrocketed. The top 5% of speculators, technocrats and insiders have done very well, and the next 5%–the apparatchik/professional class–have been thrown enough crumbs that they labor under the illusion that they’re “sharing the wealth”–a very convenient delusion for the top 0.1%.
Given the extremes of the stock market’s frauds and even greater extremes of wealth/income inequality this skimming operation has created, tell me again why the stock market will still exist in 2024? The aristocrats in France reckoned the Bastille was eternal as well. It wasn’t, and neither is the looting machine known as the stock market.
Recent Podcasts:
AxisOfEasy Salon #11: Revolutions, Power Plays and Authoritative Reality (1:06 hours)


investmentwatchblog--2020-07-06--Doug Casey on the Consequences of COVID-19

Daily Dispatch : Doug , you ’ ve talked about the hysteria surrounding the coronavirus and what effect it will have on the economy .
Following up on that , how does that all play out politically ?
After all , it is an election year .
Doug Casey : The political consequences of this are going to be very interesting .
Will Trump be re-elected in the midst of all of this ?
Well , if the Democrats are stupid enough to run the corrupt , senile , and clearly somewhat demented Biden , I think Trump could win @ @ @ @ @ @ @ of a world-class crisis .
I ’ ll make a guess : The Democrats are going to exchange Biden for somebody that ’ s younger , smarter , and more dynamic .
Not one of those embarrassing nobodies we saw on the stage a few months ago , though .
I think they ’ ll pick someone much more dangerous .
A terrible human being , actually .
Maybe even worse than Hillary .
That would be Cuomo , the governor of New York .
And if he runs against Trump in the @ @ @ @ @ @ @ and the crisis will be worse , not better , come November – then we ’ re really in for some trouble .
For all I know , he could make AOC [ Alexandria Ocasio-Cortez ] his number one counselor .
Daily Dispatch : Yeah .
So , just on the political side of things – or rather , the social side of things : When this news started coming out of China , the mainstream media noted how the Chinese were painting marks on the sidewalks , and how they were telling @ @ @ @ @ @ @ they were locking them up and telling them not to go out .
At the time , the Western media was saying , “ Oh , that could never happen here , because our people wouldn ’ t stand for it , we value our freedom too much.
” Yet , that did happen .
Not only that , but look at how quickly everyone rolled over to this whole idea of closing down businesses and people locking themselves up at home .
Now they ’ re also cheering for it .
They @ @ @ @ @ @ @ going out to get a newspaper , or going out for a walk .
I assume none of that surprises you whatsoever , how quickly the population accepts that kind of thing .
Doug Casey : Not only does it not surprise me , I rather expect it .
In fact , I ’ ll go so far as to say we won ’ t be able to have this conversation in a year or two , because it would be deemed unpatriotic , or tending to diminish the public ’ s confidence @ @ @ @ @ @ @ , they have a point , because our institutions are now so weak that they rest on nothing but confidence .
Which is not a very solid foundation , because confidence can blow away like a pile of feathers in a hurricane .
Which is exactly what ’ s likely to happen .
Look at what happened to Russia as it turned into the Soviet Union , Germany as it turned into National Socialist Germany , and lots of other countries .
It ’ s pretty easy to turn a country into a @ @ @ @ @ @ @ t want to get in trouble .
They want to keep their heads down .
Americans have gotten used to taking orders , and they ’ re happy to “ see something , say something.
” The police , and especially the military , do what they ’ re told .
People like a strong leader – that ’ s why Trump is popular .
In fact , the worse conditions get , the more people absolutely demand a strong leader .
The US is well on the way to being a police @ @ @ @ @ @ @ a strong leader to straighten things out , kiss everything and make it better .
But strong leaders are poison to freedom .
I ’ ll give odds that at least one party puts up a general in 2024 , because the military is about the only institution Americans still trust .
That ’ s really scary – the Pentagon is really just a multitrillion-dollar version of the Post Office in many ways .
Western civilization has been moving downhill since 1914 , and that downtrend is going hyperbolic at this point .
@ @ @ @ @ @ @ ’ s going to end except to say it ’ s going to end badly .
It ’ s not going to magically get better because the foundations of our culture have rotted .
After this hysteria dies down , the US , and for that matter the world , but particularly the US , will have changed permanently , much the way it did after 9/11 .
Much for the worse .
This is much more serious than 9/11 in its social and economic implications .
And its political implications , which @ @ @ @ @ @ @ out .
Daily Dispatch : Even the local governments didn ’ t waste any time at all in exerting their authority over things .
It ’ s almost as though this is the thing that the mayors of “ small town America ” have been waiting for their entire lives .
They ’ ve gone from setting bus timetables and being responsible for garbage collection to suddenly having the power to tell people they can ’ t leave their homes , and if they do they ’ re going to arrest them .
@ @ @ @ @ @ @ this tyranny is just an overreaction .
But it does feel that way .
These people have seen an opportunity to exert maximum power and they ’ ve grabbed it .
Doug Casey : Well , you ’ re quite correct , and there are probably two reasons for that .
First , the kind of people that get into government , whether it ’ s local or national , are the kind of people that like to control other people .
That ’ s why they want to get into government .
@ @ @ @ @ @ @ best and brightest .
You get the worst kind of busybody , the most dangerous type of sociopath , who wants to go into government .
That ’ s reason one .
Reason number two is that even if the rare decent person gets into the government , he feels like he has to “ do something.
” Everybody now feels the government is a cornucopia , and should “ do something.
” So of course they ’ ll act .
But there ’ s nothing useful the government can do , since @ @ @ @ @ @ @ only take wealth from some and give it to others .
The problem is the institution of government itself .
It ’ s intrinsically flawed .
I don ’ t know how we solve this ; I believe it ’ s past that point .
The situation is reaching a grand climax after deteriorating for roughly 100 years .
It ’ s something I ’ ve said for a long time .
What ’ s happening now is another step towards total government control .
It never takes a step back .
There @ @ @ @ @ @ @ government control in every part of the economy .
A perfect example of this was the creation of the TSA ( Transportation Security Administration ) – a creation of the last crisis – a completely dysfunctional and worthless organization .
At best it ’ s a giant nuisance .
What are the chances that the TSA is ever going to be abolished , and its 70,000 bottom-of-the-barrel employees forced to go out and seek productive work ?
I ’ d say the chances are about zero at this point .
That will be @ @ @ @ @ @ @ due to the current hysteria .
Daily Dispatch : In that case , what happens the next time there ’ s another one of these viruses ?
Does the government do the same thing ?
Shut everything down ?
Doug Casey : They ’ ll do something to justify their existence , and convince Boobus Americanus it was necessary .
People fail to understand that government is basically and intrinsically different from any other institution in society .
Government isn ’ t based upon choice and production .
It ’ s based upon @ @ @ @ @ @ @ barrel of a gun , as Mao said .
And the prime directive of every entity – I don ’ t care if we ’ re talking about an amoeba , an individual , a corporation , or a state – is to survive and grow .
Government is uniquely well-positioned to survive because it ’ s the only body that can legally point a gun at anybody ’ s head .
It grows like a parasite .
There ’ s always a danger a parasite will kill its host .
The US @ @ @ @ @ @ @ over a trillion dollars , financed by selling paper to the Fed .
The $ 2.2 trillion in the corona stimulus program is a disastrous idea .
Giving away that kind of money – especially in a short time – guarantees a gigantic amount of fraud , and even more waste .
It will totally distort the markets , and is a major step towards the destruction of the dollar .
And what ’ s left of American culture .
This is a curve that ’ s gone hyperbolic .
In other words @ @ @ @ @ @ @ has turned exponential with this coronavirus event .
All we need now is something resembling World War Three to put a cherry on the cake .
Daily Dispatch : On that note , thanks for your time Doug .
Doug Casey : Thanks .
But I ’ m not going to sign off by saying anything stupid and unnecessary like “ stay safe.
” I ’ m sick of people whimpering “ stay safe , ” while they huddle , sheltering in place like whipped dogs , doing as they ’ re told @ @ @ @ @ @ @ a good day .
Daily Dispatch : We will .
Thank you .

Via Casey Research
Daily Dispatch: Doug, you’ve talked about the hysteria surrounding the coronavirus and what effect it will have on the economy. Following up on that, how does that all play out politically? After all, it is an election year.
Doug Casey: The political consequences of this are going to be very interesting. Will Trump be re-elected in the midst of all of this? Well, if the Democrats are stupid enough to run the corrupt, senile, and clearly somewhat demented Biden, I think Trump could win. But no guarantees in the middle of a world-class crisis.
I’ll make a guess: The Democrats are going to exchange Biden for somebody that’s younger, smarter, and more dynamic. Not one of those embarrassing nobodies we saw on the stage a few months ago, though. I think they’ll pick someone much more dangerous. A terrible human being, actually. Maybe even worse than Hillary. That would be Cuomo, the governor of New York.
And if he runs against Trump in the midst of a crisis in November – and the crisis will be worse, not better, come November – then we’re really in for some trouble. For all I know, he could make AOC [Alexandria Ocasio-Cortez] his number one counselor.
Daily Dispatch: Yeah. So, just on the political side of things – or rather, the social side of things: When this news started coming out of China, the mainstream media noted how the Chinese were painting marks on the sidewalks, and how they were telling people not to go anywhere, and they were locking them up and telling them not to go out.
At the time, the Western media was saying, “Oh, that could never happen here, because our people wouldn’t stand for it, we value our freedom too much.” Yet, that did happen.
Not only that, but look at how quickly everyone rolled over to this whole idea of closing down businesses and people locking themselves up at home. Now they’re also cheering for it. They’re snitching on their neighbors for going out to get a newspaper, or going out for a walk.
I assume none of that surprises you whatsoever, how quickly the population accepts that kind of thing.
Doug Casey: Not only does it not surprise me, I rather expect it.
In fact, I’ll go so far as to say we won’t be able to have this conversation in a year or two, because it would be deemed unpatriotic, or tending to diminish the public’s confidence in our institutions.
And of course, they have a point, because our institutions are now so weak that they rest on nothing but confidence. Which is not a very solid foundation, because confidence can blow away like a pile of feathers in a hurricane. Which is exactly what’s likely to happen.
Look at what happened to Russia as it turned into the Soviet Union, Germany as it turned into National Socialist Germany, and lots of other countries. It’s pretty easy to turn a country into a police state. Most people don’t want to get in trouble. They want to keep their heads down.
Americans have gotten used to taking orders, and they’re happy to “see something, say something.” The police, and especially the military, do what they’re told. People like a strong leader – that’s why Trump is popular. In fact, the worse conditions get, the more people absolutely demand a strong leader.
The US is well on the way to being a police state, and the people will want a strong leader to straighten things out, kiss everything and make it better. But strong leaders are poison to freedom. I’ll give odds that at least one party puts up a general in 2024, because the military is about the only institution Americans still trust. That’s really scary – the Pentagon is really just a multitrillion-dollar version of the Post Office in many ways.
Western civilization has been moving downhill since 1914, and that downtrend is going hyperbolic at this point. I don’t know where it’s going to end except to say it’s going to end badly. It’s not going to magically get better because the foundations of our culture have rotted. After this hysteria dies down, the US, and for that matter the world, but particularly the US, will have changed permanently, much the way it did after 9/11. Much for the worse.
This is much more serious than 9/11 in its social and economic implications. And its political implications, which we will see before the year is out.
Daily Dispatch: Even the local governments didn’t waste any time at all in exerting their authority over things. It’s almost as though this is the thing that the mayors of “small town America” have been waiting for their entire lives. They’ve gone from setting bus timetables and being responsible for garbage collection to suddenly having the power to tell people they can’t leave their homes, and if they do they’re going to arrest them.
We are primarily funded by readers. Please subscribe and donate to support us!
Some people might say that to call this tyranny is just an overreaction. But it does feel that way. These people have seen an opportunity to exert maximum power and they’ve grabbed it.
Doug Casey: Well, you’re quite correct, and there are probably two reasons for that. First, the kind of people that get into government, whether it’s local or national, are the kind of people that like to control other people. That’s why they want to get into government.
You don’t get the so-called best and brightest. You get the worst kind of busybody, the most dangerous type of sociopath, who wants to go into government. That’s reason one.
Reason number two is that even if the rare decent person gets into the government, he feels like he has to “do something.” Everybody now feels the government is a cornucopia, and should “do something.” So of course they’ll act. But there’s nothing useful the government can do, since they don’t create wealth, only take wealth from some and give it to others.
The problem is the institution of government itself. It’s intrinsically flawed. I don’t know how we solve this; I believe it’s past that point. The situation is reaching a grand climax after deteriorating for roughly 100 years. It’s something I’ve said for a long time.
What’s happening now is another step towards total government control. It never takes a step back. There’s going to be even more government control in every part of the economy.
A perfect example of this was the creation of the TSA (Transportation Security Administration) – a creation of the last crisis – a completely dysfunctional and worthless organization. At best it’s a giant nuisance. What are the chances that the TSA is ever going to be abolished, and its 70,000 bottom-of-the-barrel employees forced to go out and seek productive work?
I’d say the chances are about zero at this point. That will be equally true with any new agencies created due to the current hysteria.
Daily Dispatch: In that case, what happens the next time there’s another one of these viruses? Does the government do the same thing? Shut everything down?
Doug Casey: They’ll do something to justify their existence, and convince Boobus Americanus it was necessary.
People fail to understand that government is basically and intrinsically different from any other institution in society. Government isn’t based upon choice and production. It’s based upon coercion. It comes out of the barrel of a gun, as Mao said. And the prime directive of every entity – I don’t care if we’re talking about an amoeba, an individual, a corporation, or a state – is to survive and grow.
Government is uniquely well-positioned to survive because it’s the only body that can legally point a gun at anybody’s head. It grows like a parasite. There’s always a danger a parasite will kill its host.
The US Government was already running a deficit of over a trillion dollars, financed by selling paper to the Fed. The $2.2 trillion in the corona stimulus program is a disastrous idea. Giving away that kind of money – especially in a short time – guarantees a gigantic amount of fraud, and even more waste. It will totally distort the markets, and is a major step towards the destruction of the dollar. And what’s left of American culture.
This is a curve that’s gone hyperbolic. In other words, the rate of growth of government has turned exponential with this coronavirus event. All we need now is something resembling World War Three to put a cherry on the cake.
Daily Dispatch: On that note, thanks for your time Doug.
Doug Casey: Thanks. But I’m not going to sign off by saying anything stupid and unnecessary like “stay safe.” I’m sick of people whimpering “stay safe,” while they huddle, sheltering in place like whipped dogs, doing as they’re told during this hysteria.
But do have a good day.
Daily Dispatch: We will. Thank you.


investmentwatchblog--2020-07-06--Beware the useful idiots.

Beware the useful idiots.

I don ’ t get how people don ’ t understand that we don ’ t advocate for stuff like @ @ @ @ @ simply keep our freedoms .
Many principles of the leftists are in this post , @ @ @ @ @ and people believe we ’ re racist or supremacists .
Doesn ’ t make sense @ @ @ @ @ for some .
Twisted .

by Velicent
We are primarily funded by readers. Please subscribe and donate to support us!
I don’t get how people don’t understand that we don’t advocate for stuff like this, we want to simply keep our freedoms. Many principles of the leftists are in this post, we get attacked by media and people believe we’re racist or supremacists. Doesn’t make sense and their agenda is working for some. Twisted.