investmentwatchblog--2020-06-20--I, Who Hates Shorting, Just Shorted the Entire Stock Market. Here’s Why

I ’ m sharing this trade for your future entertainment so you can hail me as the obliterating moron that infamously shorted the greatest rally floating weightlessly ever higher above the worst economic and corporate crisis imaginable .
I hate shorting .
The risk-reward relationship is out of whack .
It feels crappy .
I lost a ton of money shorting the worst highfliers a little too early in late 1999 .
It ’ s just nuts to short this market that is even crazier than in late 1999 .
But this morning , I shared in a comment in @ @ @ @ @ @ @ d just shorted the SPDR S & P 500 ETF [ SPY ] .
My time frame is several months .
I ’ m sharing this trade so that everyone gets to ridicule me and hail me as a moron and have fun at my expense in the comments for weeks and months every time the market goes up .
And I do not recommend shorting this market ; it ’ s nuts .
But here ’ s why I did .
The stock market had just gone through what was termed the @ @ @ @ @ @ @ The S & P 500 index had skyrocketed 47 % from the intraday low on March 23 ( 2,192 ) to the close on June 8 ( 3,232 ) .
It was a blistering phenomenal rally .
Since June 8 , the market has gotten off track but not by much .
It ’ s still a phenomenal rally .
And it came during the worst economy in my lifetime .
There are now 29.2 million people on state and federal unemployment insurance .
There are many more who ’ ve lost their @ @ @ @ @ @ @ insurance or whose state hasn ’ t processed the claim yet , and when they ’ re all added up , they amount to over 20 % of the labor force .
This is horrible .
But stocks just kept surging even as millions of people lost their jobs each weak .
The more gut-wrenching the unemployment-insurance data , the more stocks soared .
Then there is the desperate plight many companies find themselves in , and not just the airlines – Delta warned of a host of existential issues including that revenues @ @ @ @ @ @ @ quarter – or cruise lines – Carnival just reported a revenue collapse of 85 % in Q2 , generating a $ 4.4 billion loss , and it is selling some of its ships to shed the expense of keeping them .
These companies are in sheer survival mode , and they ’ re raising enormous amounts of money by selling junk bonds and shares so that they have enough cash to burn to get through this crisis .
This crisis hit manufacturers whose plants were shut down .
It hit retailers and sent @ @ @ @ @ @ @ .
It crushed clinics and hospitals that specialize in elective procedures .
It shut down dental offices .
It sent two rental car companies into bankruptcy court – Hertz and Advantage .
It has wreaked untold havoc among hotels and restaurants , from large chains to small operations .
And yet , stocks kept surging .
The situation has gotten so silly in the stock market that the shares of bankrupt Hertz [ HTZ ] – which will likely become worthless in the restructuring as creditors will end up getting the company – @ @ @ @ @ @ @ a share on May 26 to $ 6.28 intraday on June 8 , which may well go down in history as the craziest moment of the crazy rally .
There were stories of a new generation of stuck-at-home day-traders driving up the shares looking for their instant get-rich-quick scheme .
And those that could get out at the top made a bundle ( but HTZ closed at $ 1.73 today ) .
The smart folks at Hertz and their underwriters , Jefferies LLC , saw all these sitting ducks ripe for the taking @ @ @ @ @ @ @ heroic plan to sell up to $ 1 billion in new shares into this crazy market , while informing investors that those new shares would likely become worthless in the bankruptcy proceedings .
The bankruptcy judge – likely shaking head in despair – approved it .
As HTZ began plunging , the size of the offering was reduced to $ 500 million .
This would have been like a donation to the company ’ s creditors , who now run the show .
Hertz would have likely been able to pull off this @ @ @ @ @ @ @ then someone at the SEC woke up and asked some questions , which put the whole escapade on hold .
But you can ’ t blame Hertz .
They need money badly , and they ’ re just going where the easy money is .
Even during the crazy dotcom bubble in late 1999 and early 2000 , the day-trader frenzy hadn ’ t reached these levels .
But back in 1999 , the economy was strong .
Now this is the worst economy of my lifetime .
This kind of frenzy has @ @ @ @ @ @ @ bid up nearly everything unless it filed for bankruptcy – and even then , they bid it up , as Hertz has shown .
This would have been an inexplicable rally in normal times .
But these are not normal times .
These are the times of record Federal Reserve money printing .
Between March 11 and June 17 , the Fed printed $ 2.8 trillion and threw them at the markets – frontloading the whole thing by printing $ 2.3 trillion in the first month .
And in this manner , the @ @ @ @ @ @ @ Fed did it .
And everyone was going along for the ride .
Don ’ t fight the Fed .
Spreading $ 2.3 trillion around in one month and $ 2.8 trillion in three months – in addition to whatever other central banks globally were spreading around – was an unprecedented event .
And the fireworks probably surprised even the Fed .
Credit markets that had been freezing up for junk-rated companies suddenly turned red-hot , and speculators started chasing everything , including junk bonds sold by cruise lines and airlines though their @ @ @ @ @ @ @ % and though they were burning cash at a stunning rate .
The Fed ’ s newly created money went to work , driving up stock prices .
But over the past six weeks something new was developing : While the Fed was talking about all the asset purchase programs it would establish via its new alphabet-soup of SPVs , it actually curtailed the overall level of its purchases .
Then in the week ended June 10 , the Fed ’ s total assets of $ 7.1 trillion increased by less than $ @ @ @ @ @ @ @ ended June 17 , its total assets ( you can read my analysis of the Fed ’ s balance sheet here ) .
This chart of the week-over-week change in total assets shows how the Fed frontloaded its QE in March and April , and how it then systematically backed off : And there is another big shift in how the Fed is now approaching the crisis .
It ’ s shifting its lending and asset purchases away from propping up financial markets toward propping up consumption by states and businesses , and @ @ @ @ @ @ @ lending facility , its PPP loan facility , and its main-street lending facility .
These funds are finally flowing into consumption and not asset prices .
So the superpower that created $ 2.8 trillion and threw it at this market , and that everyone was riding along with , has stopped propping up asset prices .
And now the market , immensely bloated and overweight after its greatest 50-day rally ever , has to stand on its own feet , during the worst economy in my lifetime , amid some of the worst @ @ @ @ @ @ @ day , while over 30 million people lost their jobs .
It ’ s a terrible gut-wrenching scenario all around .
And so I stuck my neck out , and I ’ m sharing this trade for your future entertainment when it goes awry , and you get to have fun at my expense and hail me as the obliterating moron that infamously shorted the greatest stock market rally of all times as it was floating weightlessly ever higher above the worst economic and corporate crisis imaginable .

I’m sharing this trade for your future entertainment so you can hail me as the obliterating moron that infamously shorted the greatest rally floating weightlessly ever higher above the worst economic and corporate crisis imaginable.
By Wolf Richter for WOLF STREET.
I hate shorting. The risk-reward relationship is out of whack. It feels crappy. I lost a ton of money shorting the worst highfliers a little too early in late 1999. It’s just nuts to short this market that is even crazier than in late 1999. But this morning, I shared in a comment in our illustrious comment section that I’d just shorted the SPDR S&P 500 ETF [SPY]. My time frame is several months.
I’m sharing this trade so that everyone gets to ridicule me and hail me as a moron and have fun at my expense in the comments for weeks and months every time the market goes up. And I do not recommend shorting this market; it’s nuts. But here’s why I did.
The stock market had just gone through what was termed the “greatest 50-day rally in history.” The S&P 500 index had skyrocketed 47% from the intraday low on March 23 (2,192) to the close on June 8 (3,232). It was a blistering phenomenal rally. Since June 8, the market has gotten off track but not by much. It’s still a phenomenal rally. And it came during the worst economy in my lifetime.
There are now 29.2 million people on state and federal unemployment insurance. There are many more who’ve lost their work who are either ineligible for unemployment insurance or whose state hasn’t processed the claim yet, and when they’re all added up, they amount to over 20% of the labor force. This is horrible.
But stocks just kept surging even as millions of people lost their jobs each weak. The more gut-wrenching the unemployment-insurance data, the more stocks soared.
Then there is the desperate plight many companies find themselves in, and not just the airlines – Delta warned of a host of existential issues including that revenues collapsed by 90% in the second quarter – or cruise lines – Carnival just reported a revenue collapse of 85% in Q2, generating a $4.4 billion loss, and it is selling some of its ships to shed the expense of keeping them.
These companies are in sheer survival mode, and they’re raising enormous amounts of money by selling junk bonds and shares so that they have enough cash to burn to get through this crisis.
This crisis hit manufacturers whose plants were shut down. It hit retailers and sent a number of them into bankruptcy court. It crushed clinics and hospitals that specialize in elective procedures. It shut down dental offices. It sent two rental car companies into bankruptcy court – Hertz and Advantage. It has wreaked untold havoc among hotels and restaurants, from large chains to small operations. And yet, stocks kept surging.
The situation has gotten so silly in the stock market that the shares of bankrupt Hertz [HTZ] – which will likely become worthless in the restructuring as creditors will end up getting the company – were skyrocketing from something like $0.40 a share on May 26 to $6.28 intraday on June 8, which may well go down in history as the craziest moment of the crazy rally.
There were stories of a new generation of stuck-at-home day-traders driving up the shares looking for their instant get-rich-quick scheme. And those that could get out at the top made a bundle (but HTZ closed at $1.73 today).
The smart folks at Hertz and their underwriters, Jefferies LLC, saw all these sitting ducks ripe for the taking, and they came up with a heroic plan to sell up to $1 billion in new shares into this crazy market, while informing investors that those new shares would likely become worthless in the bankruptcy proceedings.
We are primarily funded by readers. Please subscribe and donate to support us!
The bankruptcy judge – likely shaking head in despair – approved it. As HTZ began plunging, the size of the offering was reduced to $500 million. This would have been like a donation to the company’s creditors, who now run the show.
Hertz would have likely been able to pull off this stunt in this crazy market, but then someone at the SEC woke up and asked some questions, which put the whole escapade on hold. But you can’t blame Hertz. They need money badly, and they’re just going where the easy money is.
Even during the crazy dotcom bubble in late 1999 and early 2000, the day-trader frenzy hadn’t reached these levels. But back in 1999, the economy was strong. Now this is the worst economy of my lifetime.
This kind of frenzy has been everywhere in recent weeks. They bid up nearly everything unless it filed for bankruptcy – and even then, they bid it up, as Hertz has shown. This would have been an inexplicable rally in normal times. But these are not normal times.
These are the times of record Federal Reserve money printing. Between March 11 and June 17, the Fed printed $2.8 trillion and threw them at the markets – frontloading the whole thing by printing $2.3 trillion in the first month.
And in this manner, the otherwise inexplicable frenzy became explicable: The Fed did it. And everyone was going along for the ride. Don’t fight the Fed. Spreading $2.3 trillion around in one month and $2.8 trillion in three months – in addition to whatever other central banks globally were spreading around – was an unprecedented event. And the fireworks probably surprised even the Fed.
Credit markets that had been freezing up for junk-rated companies suddenly turned red-hot, and speculators started chasing everything, including junk bonds sold by cruise lines and airlines though their revenues had plunged 80% or 90% and though they were burning cash at a stunning rate. The Fed’s newly created money went to work, driving up stock prices.
But over the past six weeks something new was developing: While the Fed was talking about all the asset purchase programs it would establish via its new alphabet-soup of SPVs, it actually curtailed the overall level of its purchases.
Then in the week ended June 10, the Fed’s total assets of $7.1 trillion increased by less than $4 billion. And in the week ended June 17, its total assets actually fell by $74 billion (you can read my analysis of the Fed’s balance sheet here). This chart of the week-over-week change in total assets shows how the Fed frontloaded its QE in March and April, and how it then systematically backed off:
And there is another big shift in how the Fed is now approaching the crisis. It’s shifting its lending and asset purchases away from propping up financial markets toward propping up consumption by states and businesses, and ultimately spending by workers/consumers via its municipal lending facility, its PPP loan facility, and its main-street lending facility. These funds are finally flowing into consumption and not asset prices.
So the superpower that created $2.8 trillion and threw it at this market, and that everyone was riding along with, has stopped propping up asset prices.
And now the market, immensely bloated and overweight after its greatest 50-day rally ever, has to stand on its own feet, during the worst economy in my lifetime, amid some of the worst corporate earnings approaching the light of the day, while over 30 million people lost their jobs. It’s a terrible gut-wrenching scenario all around.
And so I stuck my neck out, and I’m sharing this trade for your future entertainment when it goes awry, and you get to have fun at my expense and hail me as the obliterating moron that infamously shorted the greatest stock market rally of all times as it was floating weightlessly ever higher above the worst economic and corporate crisis imaginable.


investmentwatchblog--2020-06-20--Why is everyone ok with handing Central Bankers infinite power when all they have done is destroy so

Why is everyone ok with handing Central Bankers infinite power when all they have done is destroy society with Wealth Inequality? — Paranoid Bull (@paranoidbull) June 20, 2020
The wealth gap in the US is even in the stock market pic.twitter.com/xIoa5e7H02 — Alessio Urban (@AlessioUrban) June 20, 2020
Fed policies hurt the bottom 90% regardless of color. e.g. this thread t.co/tzj4qiidx2 — Rudy Havenstein, gradually, then suddenly. (@RudyHavenstein) June 20, 2020
Per charts below, existing ownership of US #stock is such that corporate financial engineering disproportionately benefits rich white households, as do elevated asset prices;
As such, #Fed asset purchases worsen wealth/racial inequality when not accompanied by pro-growth measures pic.twitter.com/iaFBptGpFc — Mohamed A. El-Erian (@elerianm) June 20, 2020


investmentwatchblog--2020-06-20--I have never been more convinced of anything in my life, this market is going to crash 50+% by the e

I have never been more convinced of anything in my life , this market is going to crash 50+ % @ @ @ @ @ year .
Save this tweet , pin it .
NASDAQ 100 / S & P @ @ @ @ @ where it was at the top of the dot-com bubble !
Also , the ratio @ @ @ @ @ can only be matched by 3 other months in history :

I have never been more convinced of anything in my life, this market is going to crash 50+% by the end of the year. Save this tweet, pin it. — BLACK SWAN (@RetirementRight) June 20, 2020
NASDAQ 100 / S&P 500 ratio is *HIGHER* than where it was at the top of the dot-com bubble! Also, the ratio's monthly RSI right now can only be matched by 3 other months in history: December 1999-February 2000 (peak of the dot-com bubble) pic.twitter.com/vCKHBJ4oH7 — Troy Bombardia (@bullmarketsco) June 20, 2020
CNN Fear/Greed Index's 20 day average is *EXTREMELY* high. Most recent one? January 2020, which wasn't a good time to buy stocks pic.twitter.com/Sk0x4ybbkU — Win Smart, CFA (@WinfieldSmart) June 20, 2020
"Robinhood markets are going to end in tears,” billionaire Leon Cooperman said. “Let them buy and trade. From my experience, this kind of stuff will end in tears." t.co/i68f4cLZJh — Win Smart, CFA (@WinfieldSmart) June 20, 2020
Disclaimer: This information is only for educational purposes. Do not make any investment decisions based on the information in this article. Do you own due diligence.
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investmentwatchblog--2020-06-20--We are still very much in the first wave, globally!

We are still very much in the first wave, globally! ht @MaxCRoser pic.twitter.com/ajmCE5HkG2 — jeroen blokland (@jsblokland) June 20, 2020
GERMANY'S CORONAVIRUS REPRODUCTION RATE 'R' RISES TO 1.79 – RKI HEALTH INSTITUTE — *Walter Bloomberg (@DeItaOne) June 20, 2020
Cloth Masks Are Useless Against COVID-19 t.co/99SVHrYM02 — David Larew (@ThinkTankCharts) June 20, 2020
Welp- hospitals across Florida have filled most or all available beds in their ICUs. Sh*t is hitting the fan. #covid19 t.co/I7VHabbzJL — Eric Feigl-Ding (@DrEricDing) June 20, 2020
Suddenly, everyone on the far left is an epidemiology expert after ignoring millions of unmasked protesters around the country for the last three weeks. — Brad Huston (@BradHuston) June 20, 2020
This is a #BlackLivesMatter protest in London today. A truly international movement. pic.twitter.com/mPCy3A5kkz — FZH (@freezerohedge) June 20, 2020
GERMANY'S CORONAVIRUS REPRODUCTION RATE 'R' RISES TO 1.79 – RKI HEALTH INSTITUTE… this won’t help risk in monday — FxMacro (@fxmacro) June 20, 2020


investmentwatchblog--2020-06-20--No one is buying this sh*t anymore.

No one is buying this sh*t anymore.

😂 # FakeNews – No one is buying this shit anymore.pic.twitter.com/pdJxGlY9lG

Brilliant.
😂#FakeNews – No one is buying this shit anymore.pic.twitter.com/pdJxGlY9lG
— Darren of Plymouth 🇬🇧 (@DarrenPlymouth) June 19, 2020


investmentwatchblog--2020-06-20--The Federal Reserve will test all limits of monetary policy and risks following the stepd of Japan,

The Federal Reserve will test all limits of monetary policy and risks following the stepd of Japan, going from “whatever it takes” to “whatever, no matter what”

The Federal Reserve will test all limits of monetary policy and risks following the stepd of Japan , going from @ @ @ @ @ to `` whatever , no matter what '' pic.twitter.com/oGru5O88hG

The Federal Reserve will test all limits of monetary policy and risks following the stepd of Japan, going from "whatever it takes" to "whatever, no matter what" pic.twitter.com/oGru5O88hG
— Daniel Lacalle (@dlacalle_IA) June 20, 2020


investmentwatchblog--2020-06-20--This is not sustainable…

This is not sustainable…

Experts foresee so many filings in the coming months that the courts could struggle to salvage the businesses that are @ @ @

This is not sustainable. pic.twitter.com/eirmGvm8yS — Bharat Ramamurti (@BharatRamamurti) June 19, 2020
A Tidal Wave of Bankruptcies Is Coming
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Experts foresee so many filings in the coming months that the courts could struggle to salvage the businesses that are worth saving.
Ex monopoly rents, there has not been any growth in world profits, which consistent with the general stagnation worldwide. t.co/AEw0hCweuC — Sri Thiruvadanthai (@teasri) June 19, 2020
“the number of working business owners plummeted from 15.0 million in February 2020 to 11.7 million in April 2020.” That’s a drop of 3.3 million, or 22% v. 730,000 (5%) in Great Recession.
the number of active black business owners fell 41% t.co/WUmjpdxQj5 pic.twitter.com/urjMKGtFrL — Adam Tooze (@adam_tooze) June 20, 2020
The demise of America's malls can deal a blow to the towns that depend on them t.co/BnUT9yo0KG — Sean George (@seanhgeorge) June 20, 2020
Our crisis response is based on this being a temporary shock, i.e. lost jobs coming back. But many jobs in leisure & hospitality (orange) are gone forever, given how much COVID-19 is changing consumer behavior. Our crisis response needs to accept this & emphasize job retraining. pic.twitter.com/sgI8YdsIz2 — Robin Brooks (@RobinBrooksIIF) June 20, 2020


investmentwatchblog--2020-06-20--David Stockman on Fiscal Disaster, Social Unrest, and the Presidential Election

International Man : Recently , massive riots have broken out in many cities across the US .
Despite the unrest—and the economic damage from the shutdowns—the stock market continues to rally .
It seems that markets don ’ t reflect earnings , economic prosperity , or growth .
What is going on here ?
David Stockman : It ’ s quite simple .
The Fed has unleashed the greatest torrent of liquidity ever , and it ’ s finding its way into a relentless , massive bid for risk assets .
Since the eve of the Lockdown Nation disaster on @ @ @ @ @ @ @ balance sheet has erupted from $ 4.3 trillion to nearly $ 7.2 trillion .
That ’ s $ 32 billion per day—including weekends , Easter , and nationwide riot days .
Worse still , at their June meeting , the mad money printers domiciled in the Eccles Building promised to keep printing $ 120 billion per month to buy US Treasuries and other assets for an indefinite period .
That should get us to a $ 10 trillion balance in less than two years ’ time .
What this means , of course @ @ @ @ @ @ @ the canyons of Wall Street is deader than a doornail .
We now have a putative capitalist economy in which the most important prices in all of capitalism—the prices of financial assets—are pegged , rigged , and manipulated by the central banking agents of the state .
The result , of course , is speculation and malinvestment on a biblical scale .
As to the former , we are now being treated to the preposterous spectacle of an IBO—or Initial Bankruptcy Offer—of the stock of bankrupt Hertz .
Hertz ’ s stock is @ @ @ @ @ @ @ a pile of $ 20 billion of debt—senior debt securities , which are trading at 40 cents on the dollar—and a vastly overvalued fleet of vehicles .
All this is in a world in which airline and business travel has been crushed by more than 80 % from trends and won ’ t be coming back any time soon—so long as Dr. Fauci and the Virus Patrol are stalking the land .
Yet the unhinged millennials—who idle their ample time and de minimis money on the Robinhood trading platform—have bid up Hertz ’ @ @ @ @ @ @ @ than 10X , thereby inducing a mainstream investment banking firm to propose underwriting a $ 1 billion stock offering in lieu of a debtor-in-possession ( DIP ) loan !
Never before has it been this crazy .
And , yet , the empty suit who sits in the top chair at the Fed keeps insisting this is all being done for Main Street and the workers , and as Powell said in his June presser , the Fed has no asset price target in mind at all ; it just wants to keep @ @ @ @ @ @ @ wagon does this doofus think we fell off from ?
Whether they intend it or not , their massive infusions of liquidity into the financial markets and relentless bid for financial assets funded with fiat credits has redounded to the top 1 % and 10 % who own 53 % and 88 % of equities , respectively , and it ’ s setting up the financial system for the third—and most spectacular—crash of this century , which , in turn , will wipe out what remains of middle-class wealth .
International Man : @ @ @ @ @ @ @ Many small and medium-sized businesses will never reopen .
Many must survive not only an extended lockdown but also the most severe riots in decades .
How are the riots and shutdown going to affect Main Street ?
David Stockman : It ’ s a devastating combo and originates in the most senseless , destructive act of the state in modern times—if ever .
We are referring to the sweeping quarantine and lockdown orders that caused instant economic heart attacks in vast sectors of the US economy after mid-March .
There is no @ @ @ @ @ @ @ huge industries like airline travel to plunge by more than 95 % virtually overnight , or the restaurant sector , where Open Table reservations dropped by 80 % versus prior year in a matter of days .
Not surprisingly , there have been nearly 50 million unemployment claims ( counting the new federal benefit ) in just 11 weeks—a figure which amounts to nearly 32 % of the 158 million employed Americans as of February 2020 .
Indeed , not even the bubble-blowing , crack-up boom antics of the Fed have ever created @ @ @ @ @ @ @ .
Yet its propagators—Dr .
Fauci and the Virus Patrol at the CDC , NIAID , WHO , Big Pharma and the Bill Gates camarilla of foundations , think tanks , NGOs , and vaccine lobbies—have been peddling a Big Lie from day one .
Namely , that COVID-19 is the modern equivalent of the Black Plague and spreads its deathly pathogens on a random basis to all segments of the population—the young , the old , the healthy , the sick , and all variations in between—with equal alacrity .
There are @ @ @ @ @ @ @ under 25 years of age , and as of the end of May , the mortality rate with COVID was , well , 0.12 per 100,000 population .
That is , all the schools , bars , gyms , restaurants , movie theaters where they congregate were shut down by orders of the governors and mayors , but it would take a million of these young people to generate just one death attributable to the COVID .
And we emphasize the with COVID part because the CDC changed its coding criteria at the @ @ @ @ @ @ @ they are coding as “ COVID deaths ” virtually everyone who dies in a hospital—even cases where someone arrives DOA at the emergency room after a traffic accident and tests positive for the coronavirus on a post-mortem basis .
By contrast , there are 6.5 million Americans with an age of 85 or over—representing 2 % of the population—but they accounted for 33 % of the CDC reported deaths of May 30 , and that represented a mortality rate of 450 per 100,000 .
So , the risk of death with COVID for @ @ @ @ @ @ @ is 3,750 times greater than for America ’ s School Age Nation .
Yet the mass quarantine orders amount to a one-size-fits-all attack on everyday economic and social life when the obvious thing to do was to keep the schools open and isolate , protect , support , and treat the grandparents and great grandparents .
In fact , if you take the entire population of 52 million persons 65 years and older , they account for fully 81 % of all COVID deaths—with upwards of 50 % of these fatalities attributable to @ @ @ @ @ @ @ care facilities .
As a matter of reality , residents of the latter do not frequent bars , gyms , movie theaters , offices , bus stations , and factories , essential , nonessential , and otherwise .
The general population never should have been quarantined .
Even among the core of what we call the Parents and Workers Nation , the 83 million people between 35 and 54 years of age , the with COVID mortality rate is just 7.0 per 100,000 .
That is , for this group , the risk @ @ @ @ @ @ @ not much higher than what is incurred in commuting to work and back , day in and day out .
In short , the whole Lockdown Nation fiasco was a mutant exercise in social engineering that will leave Main Street battered and bruised for years to come—long after the coronavirus completes its infection cycle and succumbs to the summertime sun in most parts of the nation .
And that gets us to the George Floyd uprising , which was overwhelmingly comprised of under-35-somethings breaking out of house arrest and mad as hell about @ @ @ @ @ @ @ weren ’ t all that compelling in the first place .
Just consider that the overwhelming share of leisure and hospitality industry workers are in the under-35 age cohort .
Yet the 17 million jobs reported by the BLS in this sector as of February had plunged to hardly 8 million by the end of April .
Even worse , average hours declined , too , so what we had at the end of April was an industry which had shrunk back to October 1979 levels in terms of labor hours actually deployed @ @ @ @ @ @ @ authorities sowed the wind and reaped the whirlwind , but on such a gigantic scale as to make the future fraught like never before .
There are 80 million persons aged 16–34 in the US , and during the long , hot summer ahead , an overwhelming share of them will be unemployed .
It doesn ’ t take too much imagination to see that the current , so-called social justice uprising is just developing an explosive head of steam .
International Man : During the COVID lockdown , Trump and Democratic governors @ @ @ @ @ @ @ similar dynamic occur with the recent riots .
How do you see this impacting the presidential election ?
David Stockman : It will just exacerbate the red/blue divide like never before .
Trump will posture as the nation ’ s super sheriff and the Dems as the champions of a cavalcade of victims—some real , though mostly politically invented—who deserve help from the heavy hand of the state .
In other words , the upcoming campaign will be a contest between the Trumpian law-and-order form of big government and the liberal-progressive-socialist version of @ @ @ @ @ @ @ s going to get crushed by the clash is the Constitution , fiscal solvency , Federalism , free enterprise , and personal liberty .
The fact is , neither party ’ s agenda has any legitimate place in the halls of government .
The identity politics and racialist agenda of the Dems is simply a brazen abuse of the democratic process for the purpose of winning and retaining the perks , pelfs , and powers of public office .
But the Donald ’ s law-and-order demagoguery is just as bad .
The solution @ @ @ @ @ @ @ cities and juvenile stunts like the six-block Autonomous Zone in Seattle is Federalism .
That is , law enforcement is a state and local function that should never have been elevated to the federal level in the first place .
We should get rid of the FBI , DEA , ATF , and the rest of the law enforcement alphabet of bureaucratic fiefdoms by repealing the War on Drugs and the rest of the nanny state statutes .
There is no reason whatsoever that legitimate law enforcement—protection of the lives and property of @ @ @ @ @ @ @ the 17,000 law enforcement agencies operative at the state and local level .
And if they are not doing the job , well , that is the purpose of elections to remedy—not some Bully Boy tweeting from the Oval Office .
And if elections chronically fail in their purpose in certain deep Blue State jurisdictions , there is a solution to that , too , which does not require sending in the Feds from Washington .
To wit , people and businesses will vote with their feet , and eventually , even the @ @ @ @ @ @ @ Blasio would get the message .
Editor ’ s Note : Economically , politically , and socially , the United States seems to be headed down a path that ’ s not only inconsistent with the founding principles of the country but accelerating quickly toward boundless decay .
That is precisely why NY Times best selling author , Doug Casey just released this urgent new video which outlines what comes next and what you need to do to be ready .
Click here to watch it now .

Via International Man
International Man: Recently, massive riots have broken out in many cities across the US.
Despite the unrest—and the economic damage from the shutdowns—the stock market continues to rally.
It seems that markets don’t reflect earnings, economic prosperity, or growth. What is going on here?
David Stockman: It’s quite simple. The Fed has unleashed the greatest torrent of liquidity ever, and it’s finding its way into a relentless, massive bid for risk assets.
Since the eve of the Lockdown Nation disaster on March 11, the Fed’s balance sheet has erupted from $4.3 trillion to nearly $7.2 trillion. That’s $32 billion per day—including weekends, Easter, and nationwide riot days.
Worse still, at their June meeting, the mad money printers domiciled in the Eccles Building promised to keep printing $120 billion per month to buy US Treasuries and other assets for an indefinite period. That should get us to a $10 trillion balance in less than two years’ time.
What this means, of course, is that honest price discovery in the canyons of Wall Street is deader than a doornail. We now have a putative capitalist economy in which the most important prices in all of capitalism—the prices of financial assets—are pegged, rigged, and manipulated by the central banking agents of the state.
The result, of course, is speculation and malinvestment on a biblical scale.
As to the former, we are now being treated to the preposterous spectacle of an IBO—or Initial Bankruptcy Offer—of the stock of bankrupt Hertz.
Hertz’s stock is worthless. It’s pinned under a pile of $20 billion of debt—senior debt securities, which are trading at 40 cents on the dollar—and a vastly overvalued fleet of vehicles.
All this is in a world in which airline and business travel has been crushed by more than 80% from trends and won’t be coming back any time soon—so long as Dr. Fauci and the Virus Patrol are stalking the land.
Yet the unhinged millennials—who idle their ample time and de minimis money on the Robinhood trading platform—have bid up Hertz’s post-chapter 11 stock price by more than 10X, thereby inducing a mainstream investment banking firm to propose underwriting a $1 billion stock offering in lieu of a debtor-in-possession (DIP) loan!
Never before has it been this crazy.
And, yet, the empty suit who sits in the top chair at the Fed keeps insisting this is all being done for Main Street and the workers, and as Powell said in his June presser, the Fed has no asset price target in mind at all; it just wants to keep financial markets functioning smoothly.
What hay wagon does this doofus think we fell off from?
Whether they intend it or not, their massive infusions of liquidity into the financial markets and relentless bid for financial assets funded with fiat credits has redounded to the top 1% and 10% who own 53% and 88% of equities, respectively, and it’s setting up the financial system for the third—and most spectacular—crash of this century, which, in turn, will wipe out what remains of middle-class wealth.
International Man: Over 40 million Americans are unemployed. Many small and medium-sized businesses will never reopen. Many must survive not only an extended lockdown but also the most severe riots in decades.
How are the riots and shutdown going to affect Main Street?
David Stockman: It’s a devastating combo and originates in the most senseless, destructive act of the state in modern times—if ever.
We are referring to the sweeping quarantine and lockdown orders that caused instant economic heart attacks in vast sectors of the US economy after mid-March.
There is no precedent in history for activity levels in huge industries like airline travel to plunge by more than 95% virtually overnight, or the restaurant sector, where Open Table reservations dropped by 80% versus prior year in a matter of days.
Not surprisingly, there have been nearly 50 million unemployment claims (counting the new federal benefit) in just 11 weeks—a figure which amounts to nearly 32% of the 158 million employed Americans as of February 2020.
Indeed, not even the bubble-blowing, crack-up boom antics of the Fed have ever created the kind of depressionary collapse now underway.
Yet its propagators—Dr. Fauci and the Virus Patrol at the CDC, NIAID, WHO, Big Pharma and the Bill Gates camarilla of foundations, think tanks, NGOs, and vaccine lobbies—have been peddling a Big Lie from day one.
Namely, that COVID-19 is the modern equivalent of the Black Plague and spreads its deathly pathogens on a random basis to all segments of the population—the young, the old, the healthy, the sick, and all variations in between—with equal alacrity.
That’s not even remotely true.
There are 104 million young people in the USA under 25 years of age, and as of the end of May, the mortality rate with COVID was, well, 0.12 per 100,000 population.
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That is, all the schools, bars, gyms, restaurants, movie theaters where they congregate were shut down by orders of the governors and mayors, but it would take a million of these young people to generate just one death attributable to the COVID.
And we emphasize the with COVID part because the CDC changed its coding criteria at the beginning of the pandemic, and now they are coding as “COVID deaths” virtually everyone who dies in a hospital—even cases where someone arrives DOA at the emergency room after a traffic accident and tests positive for the coronavirus on a post-mortem basis.
By contrast, there are 6.5 million Americans with an age of 85 or over—representing 2% of the population—but they accounted for 33% of the CDC reported deaths of May 30, and that represented a mortality rate of 450 per 100,000.
So, the risk of death with COVID for what we call the Great Grandparents Nation is 3,750 times greater than for America’s School Age Nation.
Yet the mass quarantine orders amount to a one-size-fits-all attack on everyday economic and social life when the obvious thing to do was to keep the schools open and isolate, protect, support, and treat the grandparents and great grandparents.
In fact, if you take the entire population of 52 million persons 65 years and older, they account for fully 81% of all COVID deaths—with upwards of 50% of these fatalities attributable to residents of nursing homes and other long-term care facilities. As a matter of reality, residents of the latter do not frequent bars, gyms, movie theaters, offices, bus stations, and factories, essential, nonessential, and otherwise.
The general population never should have been quarantined.
Even among the core of what we call the Parents and Workers Nation, the 83 million people between 35 and 54 years of age, the with COVID mortality rate is just 7.0 per 100,000. That is, for this group, the risk of death from contracting the coronavirus is not much higher than what is incurred in commuting to work and back, day in and day out.
In short, the whole Lockdown Nation fiasco was a mutant exercise in social engineering that will leave Main Street battered and bruised for years to come—long after the coronavirus completes its infection cycle and succumbs to the summertime sun in most parts of the nation.
And that gets us to the George Floyd uprising, which was overwhelmingly comprised of under-35-somethings breaking out of house arrest and mad as hell about their now dramatically reduced prospects in life—which weren’t all that compelling in the first place.
Just consider that the overwhelming share of leisure and hospitality industry workers are in the under-35 age cohort. Yet the 17 million jobs reported by the BLS in this sector as of February had plunged to hardly 8 million by the end of April.
Even worse, average hours declined, too, so what we had at the end of April was an industry which had shrunk back to October 1979 levels in terms of labor hours actually deployed and paychecks issued.
So, the authorities sowed the wind and reaped the whirlwind, but on such a gigantic scale as to make the future fraught like never before.
There are 80 million persons aged 16–34 in the US, and during the long, hot summer ahead, an overwhelming share of them will be unemployed. It doesn’t take too much imagination to see that the current, so-called social justice uprising is just developing an explosive head of steam.
International Man: During the COVID lockdown, Trump and Democratic governors were at odds. We saw a similar dynamic occur with the recent riots.
How do you see this impacting the presidential election?
David Stockman: It will just exacerbate the red/blue divide like never before.
Trump will posture as the nation’s super sheriff and the Dems as the champions of a cavalcade of victims—some real, though mostly politically invented—who deserve help from the heavy hand of the state.
In other words, the upcoming campaign will be a contest between the Trumpian law-and-order form of big government and the liberal-progressive-socialist version of the leviathan state. And what’s going to get crushed by the clash is the Constitution, fiscal solvency, Federalism, free enterprise, and personal liberty.
The fact is, neither party’s agenda has any legitimate place in the halls of government. The identity politics and racialist agenda of the Dems is simply a brazen abuse of the democratic process for the purpose of winning and retaining the perks, pelfs, and powers of public office.
But the Donald’s law-and-order demagoguery is just as bad.
The solution to mismanaged riots in the blue state cities and juvenile stunts like the six-block Autonomous Zone in Seattle is Federalism. That is, law enforcement is a state and local function that should never have been elevated to the federal level in the first place.
We should get rid of the FBI, DEA, ATF, and the rest of the law enforcement alphabet of bureaucratic fiefdoms by repealing the War on Drugs and the rest of the nanny state statutes.
There is no reason whatsoever that legitimate law enforcement—protection of the lives and property of the citizenry—cannot be handled by the 17,000 law enforcement agencies operative at the state and local level.
And if they are not doing the job, well, that is the purpose of elections to remedy—not some Bully Boy tweeting from the Oval Office.
And if elections chronically fail in their purpose in certain deep Blue State jurisdictions, there is a solution to that, too, which does not require sending in the Feds from Washington. To wit, people and businesses will vote with their feet, and eventually, even the likes of Governor Cuomo and Bill De Blasio would get the message.
Editor’s Note: Economically, politically, and socially, the United States seems to be headed down a path that’s not only inconsistent with the founding principles of the country but accelerating quickly toward boundless decay.
That is precisely why NY Times best selling author, Doug Casey just released this urgent new video which outlines what comes next and what you need to do to be ready. Click here to watch it now.


investmentwatchblog--2020-06-20--SILENCED: We Live in a Time When Our “Opinions Qualify as Crimes”

Currently , we ’ re living in an upside-down and backward world where the minority of people hold all the microphones , successfully shouting over a potential majority of people who don ’ t like the way things are going .
I truly believe that most Americans don ’ t hate their neighbors , don ’ t indulge in cruelty for the sake of cruelty , don ’ t indulge in cruel behavior toward those of other races than their own , and just want to live their lives with what happiness they can find .
This is not to @ @ @ @ @ @ @ it does and I ’ ve seen it in action .
It also isn ’ t to say that there aren ’ t extremists who wallow in hatred – there are and on all fringes of the political spectrum .
The trouble happens when one of those fringes tries to silence everybody else .
And it ’ s working .
How big independent sites are being silenced Take the recent threats against ten websites in the United States , all of whom a new website in the UK is trying to get “ @ @ @ @ @ @ @ on Fake News sites to stop funding Fake News .
To be honest , I was very hesitant to write this article , because I , too , am dependent on ad platforms that go through Google .
But too many people are silent while others are silenced so here goes .
Stop Funding Fake News was set up in 2019 by people who were concerned about the rapid rise in Fake News .
Since we launched , we ’ ve seen one of our target fake news sites completely shut down , @ @ @ @ @ @ @ significantly as a result of us damaging their ability to raise revenue .
We are pro-truth , pro-balance and pro-responsible news .
We invite brands and people to consider whether they want their adverts to appear next to hate and untruths .
( source ) Here ’ s a list of the sites that SSFN considers “ racist.
” Whether they are or not isn ’ t the purview of this article .
You ’ ll note a common thread on the list of articles that SSFN deems offensive .
It seems that @ @ @ @ @ @ @ opposed to the balance they say they ’ re looking for , is acceptable in the eyes of SSFN and anything else must be piled on the pyre of all the virtual books being burned .
Zero Hedge , probably the most popular and powerful alternative news site out there , was completely defunded by Google .
Here ’ s what Zero Hedge had to say about the issue .
You see , the way it works is this .
Ad networks bid on advertisements and based on statistics available through Google , @ @ @ @ @ @ @ contract with the ad networks .
This is how my site and many other high-volume websites get the bulk of their advertising revenue .
Keep in mind it ’ s pretty expensive to run a smaller site like mine , so I can only imagine the cost of running a far bigger site .
Advertisers are getting on board because their livelihoods , too , rely on being seen as holding the “ correct ” opinion .
We ’ re all under mob rule .
The Federalist , another site on that list @ @ @ @ @ @ @ funded but only if they removed their comments section entirely .
So not only do they have to change their reporting , but they also have to silence their readers .
You may be thinking that it sounds like they caved – but you can not run a large website without revenue unless you ’ re independently wealthy and you don ’ t mind just throwing money down a well never to be seen again .
Most site owners are not in that position .
It ’ s a nerve-wracking time to be @ @ @ @ @ @ @ several days whether or not to write this article because my head could be on the chopping block next .
My livelihood and that of the people who work with me are at risk .
But if we of the independent media don ’ t speak up , who will ?
How can we do nothing while the entire conversation is being taken over by radical elements with which many Americans do not agree ?
The independent media is the last remaining bastion of alternative opinions .
George Orwell wrote these chillingly prophetic @ @ @ @ @ @ @ we of the independent media are gone , Big Brother is totally in charge of all the information you receive .
This will be the information on which you make your decisions , the information that influences your opinions and the opinions of others , the only “ truth ” there is , even if the information is inaccurate and biased .
Americans can only hold one opinion now .
Americans continue to be silenced or to be bullied out of their jobs based on who they voted for , forced to affiliate @ @ @ @ @ @ @ support , or fall victim to a virtual mob during an internet witch hunt .
All because they dare , in America , alleged land of the free , to disagree with an opinion that is treated as fact .
You may recall after President Trump was elected how horribly anyone who voted for him was treated .
Heaven forbid a person was to wear a red MAGA hat in public because to do so was risking a beating .
Americans were suddenly cast into a world so extreme that our opinions could @ @ @ @ @ @ @ in the workplace and on the streets .
If you don ’ t support groups like Antifa or the Occupy movement , you ’ re considered a “ far-right extremist.
” That ’ s the moniker used to describe Zero Hedge in most of the news coverage about their defunding .
For the record , I ’ m not even sort of “ right ” and I ’ m definitely not “ far-right.
” I don ’ t support or endorse either major political party or any extremist groups .
I weigh my @ @ @ @ @ @ @ Some of them may fall in line with the left , some may fall in line with the right , but I do not align myself with any groups .
My opinions are entirely my own .
Freedom of speech is one of our most sacred rights in this country .
That includes the freedom for those with differing opinions to speak , have platforms , and hold some of the microphones .
Silencing these websites through insidiously getting them defunded is anti-American .
I think CNN , for example , has been @ @ @ @ @ @ @ time again , even going so far as to try and swing the last election for Hillary Clinton .
It ’ s an undisputed fact that one of their employees colluded with her before the presidential debate .
Regardless of that , I don ’ t think they should be defunded .
I think that they should be able to continue to operate and so should their opposition .
That ’ s how you have a balance in the media .
And balance in the media is how we have balance in our @ @ @ @ @ @ @ Carlson had to say about the silencing of Americans .
A few days ago , Tucker Carlson of Fox News tackled this topic .
And yes , Fox News , just like every other network , has a bias .
We must all face the reality that days of unbiased journalism are over and every piece is an opinion piece .
And even that wouldn ’ t be so bad if we were presented with the full range of opinions .
Did you catch the line that “ our opinions qualify as crimes @ @ @ @ @ @ @ right when he talks about how our information is being controlled .
It doesn ’ t matter if you personally use Google or not .
What does matter is this : That ’ s a whole lot of people who are getting their opinions from one company .
That ’ s a whole lot of power .
And that power is being misused to silence opposing points of view and to make it seem like nearly all Americans support their point of view .
In fact , this is untrue .
But the @ @ @ @ @ @ @ of reality and they ’ re presenting us with a reality of their own ideals .
We are at an incredibly dangerous turning point right now and everything we hold dear about America is at risk .
If you ’ re looking ahead and the future looks bright , that might be because you ’ re seeing the country on fire .

by Daisy Luther
Currently, we’re living in an upside-down and backward world where the minority of people hold all the microphones, successfully shouting over a potential majority of people who don’t like the way things are going.
I truly believe that most Americans don’t hate their neighbors, don’t indulge in cruelty for the sake of cruelty, don’t indulge in cruel behavior toward those of other races than their own, and just want to live their lives with what happiness they can find. This is not to say that racism does not exist – it does and I’ve seen it in action. It also isn’t to say that there aren’t extremists who wallow in hatred – there are and on all fringes of the political spectrum.
The trouble happens when one of those fringes tries to silence everybody else. And it’s working.
How big independent sites are being silenced
Take the recent threats against ten websites in the United States, all of whom a new website in the UK is trying to get “defunded.”
We call on brands advertising on Fake News sites to stop funding Fake News. To be honest, I was very hesitant to write this article, because I, too, am dependent on ad platforms that go through Google. But too many people are silent while others are silenced so here goes. Stop Funding Fake News was set up in 2019 by people who were concerned about the rapid rise in Fake News. Since we launched, we’ve seen one of our target fake news sites completely shut down, and the capacity of several others reduce significantly as a result of us damaging their ability to raise revenue. We are pro-truth, pro-balance and pro-responsible news. We invite brands and people to consider whether they want their adverts to appear next to hate and untruths. (source)
Here’s a list of the sites that SSFN considers “racist.” Whether they are or not isn’t the purview of this article.
You’ll note a common thread on the list of articles that SSFN deems offensive. It seems that only one point of view, as opposed to the balance they say they’re looking for, is acceptable in the eyes of SSFN and anything else must be piled on the pyre of all the virtual books being burned.
Demonetization or silence
Zero Hedge, probably the most popular and powerful alternative news site out there, was completely defunded by Google. Here’s what Zero Hedge had to say about the issue.
You see, the way it works is this. Ad networks bid on advertisements and based on statistics available through Google, these ads are placed on websites that contract with the ad networks. This is how my site and many other high-volume websites get the bulk of their advertising revenue. Keep in mind it’s pretty expensive to run a smaller site like mine, so I can only imagine the cost of running a far bigger site.
Advertisers are getting on board because their livelihoods, too, rely on being seen as holding the “correct” opinion. We’re all under mob rule.
The Federalist, another site on that list, was able to keep their site funded but only if they removed their comments section entirely. So not only do they have to change their reporting, but they also have to silence their readers. You may be thinking that it sounds like they caved – but you cannot run a large website without revenue unless you’re independently wealthy and you don’t mind just throwing money down a well never to be seen again. Most site owners are not in that position.
It’s a nerve-wracking time to be in this business. I debated for several days whether or not to write this article because my head could be on the chopping block next. My livelihood and that of the people who work with me are at risk.
But if we of the independent media don’t speak up, who will?
How can we do nothing while the entire conversation is being taken over by radical elements with which many Americans do not agree? The independent media is the last remaining bastion of alternative opinions. George Orwell wrote these chillingly prophetic words in his novel 1984.
“Every record has been destroyed or falsified, every book rewritten, every picture has been repainted, every statue and street building has been renamed, every date has been altered. And the process is continuing day by day and minute by minute. History has stopped. Nothing exists except an endless present in which the Party is always right.” (source)
When we of the independent media are gone, Big Brother is totally in charge of all the information you receive. This will be the information on which you make your decisions, the information that influences your opinions and the opinions of others, the only “truth” there is, even if the information is inaccurate and biased.
Americans can only hold one opinion now.
Americans continue to be silenced or to be bullied out of their jobs based on who they voted for, forced to affiliate with groups that they may not actually support, or fall victim to a virtual mob during an internet witch hunt.
We are primarily funded by readers. Please subscribe and donate to support us!
All because they dare, in America, alleged land of the free, to disagree with an opinion that is treated as fact.
You may recall after President Trump was elected how horribly anyone who voted for him was treated. Heaven forbid a person was to wear a red MAGA hat in public because to do so was risking a beating. Americans were suddenly cast into a world so extreme that our opinions could mean the difference between life and death in the workplace and on the streets.
If you don’t support groups like Antifa or the Occupy movement, you’re considered a “far-right extremist.” That’s the moniker used to describe Zero Hedge in most of the news coverage about their defunding.
For the record, I’m not even sort of “right” and I’m definitely not “far-right.” I don’t support or endorse either major political party or any extremist groups. I weigh my opinions based on my personal ethics. Some of them may fall in line with the left, some may fall in line with the right, but I do not align myself with any groups. My opinions are entirely my own.
Freedom of speech is one of our most sacred rights in this country.
That includes the freedom for those with differing opinions to speak, have platforms, and hold some of the microphones. Silencing these websites through insidiously getting them defunded is anti-American.
I think CNN, for example, has been proven to be exceptionally biased time and time again, even going so far as to try and swing the last election for Hillary Clinton. It’s an undisputed fact that one of their employees colluded with her before the presidential debate.
Regardless of that, I don’t think they should be defunded. I think that they should be able to continue to operate and so should their opposition. That’s how you have a balance in the media.
And balance in the media is how we have balance in our nation.
Here’s what Tucker Carlson had to say about the silencing of Americans.
A few days ago, Tucker Carlson of Fox News tackled this topic. And yes, Fox News, just like every other network, has a bias. We must all face the reality that days of unbiased journalism are over and every piece is an opinion piece. And even that wouldn’t be so bad if we were presented with the full range of opinions.
I
Did you catch the line that “our opinions qualify as crimes?”
And he’s also right when he talks about how our information is being controlled. It doesn’t matter if you personally use Google or not. What does matter is this:
Google receives over 63,000 searches per second…which translates into at least 2 trillion searches per year, 3.8 million searches per minute, 228 million searches per hour, and 5.6 billion searches per day. (source)
That’s a whole lot of people who are getting their opinions from one company. That’s a whole lot of power. And that power is being misused to silence opposing points of view and to make it seem like nearly all Americans support their point of view. In fact, this is untrue. But the media and the internet have taken control of reality and they’re presenting us with a reality of their own ideals.
We are at an incredibly dangerous turning point right now and everything we hold dear about America is at risk.
If you’re looking ahead and the future looks bright, that might be because you’re seeing the country on fire.


investmentwatchblog--2020-06-20--The Fed May Be Worse Than Covid-19

The Fed May Be Worse Than Covid-19

As we ’ ve been railing on for too long now , the Federal Reserve is NOT serving the interests and welfare of the general public .
Instead it serves the top 1 % .
Or more accurately , the top 0.1 % — i.e.
, the people who actually own the vast majority of financial assets , corporations and real estate .
Right now , the Fed is pouring gasoline on the “ wealth gap ” ; the tremendous divide in social inequity it has largely been responsible for creating .
And yet it ’ s Chairman , Jerome @ @ @ @ @ @ @ this .
The very valid grievances of many dispossessed and disempowered groups can be laid at the feet of the Fed .
Minorities starting at diminished employment prospects ?
Seniors unable to live off of their life savings in a world of 0 % interest rates ?
The Fed is either directly or indirectly responsible .
It ’ s way past time for society to realize the truth and stop believing the Fed ’ s pitch that it ’ s the hero riding to the rescue in this story .
It ’ s @ @ @ @ @ @ @ who created the injustices we ’ re sick of .
And it ’ s “ rescue ” efforts are simply a trojan horse for using a crisis of its own making to enrich its stakeholders further .
Don ’ t forget to get your free download of Peak Prosperity ’ s book Prosper !
.
Given its relevance to preparing for any kind of crisis — pandemic , social unrest , or otherwise — Chris and Adam are now making it available to the world for free during the national covid-19 lockdown .

by Chris Martenson of Peak Prosperity
As we’ve been railing on for too long now, the Federal Reserve is NOT serving the interests and welfare of the general public.
Instead it serves the top 1%. Or more accurately, the top 0.1% — i.e., the people who actually own the vast majority of financial assets, corporations and real estate.
Right now, the Fed is pouring gasoline on the “wealth gap”; the tremendous divide in social inequity it has largely been responsible for creating. And yet it’s Chairman, Jerome Powell, flat out refuses to acknowledge this.
The very valid grievances of many dispossessed and disempowered groups can be laid at the feet of the Fed. Minorities starting at diminished employment prospects? Seniors unable to live off of their life savings in a world of 0% interest rates? The Fed is either directly or indirectly responsible.
We are primarily funded by readers. Please subscribe and donate to support us!
It’s way past time for society to realize the truth and stop believing the Fed’s pitch that it’s the hero riding to the rescue in this story. It’s not.
It’s the villain who created the injustices we’re sick of. And it’s “rescue” efforts are simply a trojan horse for using a crisis of its own making to enrich its stakeholders further.
Don’t forget to get your free download of Peak Prosperity’s book Prosper!. Given its relevance to preparing for any kind of crisis — pandemic, social unrest, or otherwise — Chris and Adam are now making it available to the world for free during the national covid-19 lockdown.
FULL SHOW NOTES AND LINKS HERE


investmentwatchblog--2020-06-20--TWITTER + CNN = COMEDY GOLD

TWITTER + CNN = COMEDY GOLD

Twitter and the mainstream lying press are working overtime to gaslight Americans into believing that memes are “ fake news.
@ @ @ @ @ hilarious meme by well-known satirist and meme-maker Carpe Donktum on Thursday , which skewered the @ @ @ @ @ the way they manipulate reality .
It is spot-on genius .
But journalists are pretending @ @ @ @ @ it ’ s a joke .

Clown World: Twitter Fact-Checks Hilarious Trump Tweet Meme on Behalf of CNN.
We are primarily funded by readers. Please subscribe and donate to support us!
Twitter and the mainstream lying press are working overtime to gaslight Americans into believing that memes are “fake news.” The president tweeted this hilarious meme by well-known satirist and meme-maker Carpe Donktum on Thursday, which skewered the fake news media narrative and the way they manipulate reality. It is spot-on genius. But journalists are pretending they don’t know it’s a joke.
So @POTUS just tweeted a fake, suggesting @CNN covered these toddlers like this. In reality this is how CNN reported this in 2019: Internet falls in love with these two toddlers hugging t.co/ydsxu8lTOC t.co/FHC7TgQeMo — Glenn Kessler (@GlennKesslerWP) June 19, 2020


investmentwatchblog--2020-06-20--DNC doing DNC things

DNC doing DNC things

Here is Mike Gravel in a presidential debate on the stage with Hillary Clinton , Barrack Obama , and Joe @ @ @ @ @ , the Mike Gravel campaign contacted the DNC after receiving over 65,000 unique donors .
@ @ @ @ @ senior official swore that they would never change the debate rules for any candidate .
@ @ @ @ @ did exactly that .
Listen to them lie to our faces : Gravel also questions @ @ @ @

by Robintevenson
Here is Mike Gravel in a presidential debate on the stage with Hillary Clinton, Barrack Obama, and Joe Biden:
www.youtube.com/watch?v=uBcMUZAXMW4
twitter.com/GravelInstitute/status/1223345215404199944
twitter.com/GravelInstitute/status/1223733471312596992
We are primarily funded by readers. Please subscribe and donate to support us!
In July 2019, the Mike Gravel campaign contacted the DNC after receiving over 65,000 unique donors.
On the call, a senior official swore that they would never change the debate rules for any candidate. Six months later, they did exactly that.
Listen to them lie to our faces:
Gravel also questions the story on 9/11


investmentwatchblog--2020-06-20--Author predicts Trump landslide victory in 2020

New York Times bestselling author David Horowitz just released his latest book , which details his predictions for the 2020 @ @ @ @ @ ’ s Caitlin Sinclair caught up with him and has the latest .

New York Times bestselling author David Horowitz just released his latest book, which details his predictions for the 2020 presidential race. One America’s Caitlin Sinclair caught up with him and has the latest.
We are primarily funded by readers. Please subscribe and donate to support us!


investmentwatchblog--2020-06-20--There’s a Solar Eclipse in June 21st. Joni Patry Predicts Hidden Secrets Will Be Uncovered. Scandals

There’s a Solar Eclipse in June 21st. Joni Patry Predicts Hidden Secrets Will Be Uncovered. Scandals Are About to Surface!

She predicts what to expect from the upcoming eclipse Monday which will include a stellium of planets in Gemini , @ @ @ @ @ which is also retrograde at this time .
She predicts major issues with travel , @ @ @ @ @ stating that she sees Gemini and Mercury frequently in health and disease related issues .
@ @ @ @ @ turning point in the year .

She predicts what to expect from the upcoming eclipse Monday which will include a stellium of planets in Gemini, a sign ruled by Mercury which is also retrograde at this time. She predicts major issues with travel, communications, and disease, stating that she sees Gemini and Mercury frequently in health and disease related issues. This is definitely a key turning point in the year.
We are primarily funded by readers. Please subscribe and donate to support us!
AC


investmentwatchblog--2020-06-20--UN #HumanRights experts: “Profound concern” over a recent statement by the US A.G. describing #Antif

UN #HumanRights experts: “Profound concern” over a recent statement by the US A.G. describing #Antifa and other anti-fascist as TERRORISTS

The U.N. is literally upset that we in the West won ’ t allow communists and domestic terrorists to carry @ @ @ @ @ Geneva @ UNGeneva · 10h UN # HumanRights experts express profound concern over a recent @ @ @ @ @ describing # Antifa and other anti-fascist activists as domestic terrorists , saying it undermines the @ @ @ @ @ and of peaceful assembly in the country .

The U.N. is literally upset that we in the West won’t allow communists and domestic terrorists to carry out an insurrection.
Mind blowing.
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UN Geneva
@UNGeneva
· 10h
UN #HumanRights experts express profound concern over a recent statement by the US Attorney-General describing #Antifa and other anti-fascist activists as domestic terrorists, saying it undermines the rights to freedom of expression and of peaceful assembly in the country.
Antifa groups instruct adherents to maim or kill political opponents. They tell comrades to destroy property through vandalism & arson attacks. They provide literature that calls for destabilizing societies so that governments can be overthrown. This is not peaceful assembly. t.co/FQm5dvOjkt — Andy Ngô (@MrAndyNgo) June 19, 2020
h/t BFD


investmentwatchblog--2020-06-20--Goldman Now Forecasting $2000 Gold Price In 12 Months!

( by Half Dollar ) Never say anything good about gold .
That ’ s rule number one for the MSM .
If , as bad luck would have it , the MSM is forced to say something good about gold , then qualify it .
Above all else , avoid saying anything good about silver at all costs , and only cover silver if the subject is totally and completely unavoidable .
There is a problem , however , and it ’ s forcing the banks to talk good about gold : Many people are protecting themselves with gold @ @ @ @ @ @ @ and governments around the world stimulate their “ markets ” and economies to no end , and since we ’ ve been consolidating for months on end , it sure seems like we ’ re ready for the next leg-up .
That ’ s a problem because Goldman can no longer go all Harry Dent and claim gold ’ s crashing to $ 1000 over the course of 12 months .
For what it ’ s worth , from Reuters ( bold added for emphasis and commentary ) Curiously , that could be @ @ @ @ @ @ @ sentence by indirectly implying the possibility of record high gold prices , possibly this year .
Granted , if you ’ re buying real , physical gold and not some crappy ETF that may or may not have the gold in it and will cash settle you anyway when prices run parabolic , then you ’ re already likely paying record high prices or very near record high prices .
But there I go again .
Needless to say , onto the catch : Inflation .
Because everybody knows the Fed ’ s @ @ @ @ @ @ @ everybody also knows inflation has been stubbornly under 2.0 % for decades now .
Here ’ s the question : Does the government and the Fed understate inflation ?
Follow up question : Inflation aside , what if the global economy doesn ’ t “ recover ” in the next 3 , 6 , or nine months ?

(by Half Dollar) Never say anything good about gold.
That’s rule number one for the MSM.
If, as bad luck would have it, the MSM is forced to say something good about gold, then qualify it.
That’s rule number two.
Rule number 3?
Above all else, avoid saying anything good about silver at all costs, and only cover silver if the subject is totally and completely unavoidable.
There is a problem, however, and it’s forcing the banks to talk good about gold: Many people are protecting themselves with gold (and silver) as central banks and governments around the world stimulate their “markets” and economies to no end, and since we’ve been consolidating for months on end, it sure seems like we’re ready for the next leg-up.
Um, yeah.
That’s a problem because Goldman can no longer go all Harry Dent and claim gold’s crashing to $1000 over the course of 12 months.
But I digress.
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For what it’s worth, from Reuters (bold added for emphasis and commentary)
June 19 (Reuters) – Goldman Sachs raised its gold price forecast on Friday as it expects a rally in bullion to continue due to currency debasement fears and economic uncertainty caused by the coronavirus crisis.
The bank raised its three, six and 12-month gold price estimates to $1,800, $1,900 and $2,000 per ounce from $1,600, $1,650 and 1,800 per ounce, respectively.
Curiously, that could be loosely interpreted as Goldman’s CYA sentence by indirectly implying the possibility of record high gold prices, possibly this year.
Granted, if you’re buying real, physical gold and not some crappy ETF that may or may not have the gold in it and will cash settle you anyway when prices run parabolic, then you’re already likely paying record high prices or very near record high prices.
But there I go again.
Digression.
Needless to say, onto the catch: Inflation.
Because everybody knows the Fed’s balance sheet is not inflation, and everybody also knows inflation has been stubbornly under 2.0% for decades now.
The U.S. bank warned that prices are likely to correct in a similar manner to 2013 if inflation doesn’t return as the global economy recovers.
Here’s the question: Does the government and the Fed understate inflation?
Follow up question: Inflation aside, what if the global economy doesn’t “recover” in the next 3, 6, or nine months?
Developing…


investmentwatchblog--2020-06-20--Tom Fitton predicts ‘chaotic’ Election Day: ‘We may not know who won for weeks

That ’ s the plan .
Simulated election fraud to spread doubt about the results , UN peacekeepers to stop @ @ @ @ @ declared interim president like Obama .
Don ’ t forget , this is not a @ @ @ @ @ war , it ’ s a color revolution and they have trained for this scenario @ @ @ @ @ world .

That’s the plan. Simulated election fraud to spread doubt about the results, UN peacekeepers to stop riots, and a self declared interim president like Obama. Don’t forget, this is not a race war or a civil war, it’s a color revolution and they have trained for this scenario in many countries around the world.
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investmentwatchblog--2020-06-20--May I Have Your Attention Everyone

May I Have Your Attention Everyone

How to properly address a room when the leftists take over the world…
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h/t ElleMira


investmentwatchblog--2020-06-20--Stock market running out of steam with reopening trades fading…  Fed’s Kashkari warns bank losses co

Stock market running out of steam with reopening trades fading…  Fed’s Kashkari warns bank losses could trigger next financial crisis

Stock market running out of steam with reopening trades fading… • With recent spikes in coronavirus cases and fluctuations in the economic data , the historic rally has taken a pause as the market seems to be stuck in a range amid elevated volatility .
• “ Although the stock market was suggesting a V-shaped recovery , the more likely scenario is rolling Ws , ” said Liz Ann Sonders , chief investment strategist at Charles Schwab .
• As signs of a virus resurgence mount , investors have turned increasingly cautious .
• The rally in those popular reopening @ @ @ @ @ @ @ hotels — is seemingly losing steam .
Fed ’ s Kashkari warns bank losses could trigger next financial crisis… The head of the Minneapolis Federal Reserve warned Friday that banks should “ stop paying dividends ” and “ raise capital ” as more Americans struggle to pay their loans and credit losses mount at America ’ s large banks amid the ongoing coronavirus pandemic .
“ They can essentially inoculate themselves from COVID , ” said Neel Kashkari , who ran the 2009 auto bailout .
ZURICH/LONDON ( Reuters ) – As stock @ @ @ @ @ @ @ , advisers to the world ’ s wealthy are urging them to hold more gold , questioning the strength of the rally and the long-term impact of global central banks ’ cash splurge .
Beginning Of The End For Dollar ?
Dollar-denominated financial markets appeared to suffer a dramatic change on or about the 23 March .
This article examines the possibility that it marks the beginning of the end for the Fed ’ s dollar .
At this stage of an evolving economic and financial crisis , such thoughts are necessarily speculative @ @ @ @ @ @ @ now a near certainty , with most global systemically important banks in a weaker position than at the time of the Lehman crisis .
US markets appear oblivious to this risk , though the ratings of G-SIBs in other jurisdictions do reflect specific banking risks rather than a systemic one at this stage .
A banking collapse will be a game-changer for financial markets , and we should then worry that the Fed has bound the dollar ’ s future to their fortunes .
The dollar could fail completely by the end of @ @ @ @ @ @ @ reset might be implemented , perhaps by reintroducing the greenback , which is not the same as the Fed ’ s dollar .
Any reset is likely to fail unless the US Government desists from inflationary financing , which requires a radically changed mindset , even harder to imagine in a presidential election year .

Stock market running out of steam with reopening trades fading…
With recent spikes in coronavirus cases and fluctuations in the economic data, the historic rally has taken a pause as the market seems to be stuck in a range amid elevated volatility.
“Although the stock market was suggesting a V-shaped recovery, the more likely scenario is rolling Ws,” said Liz Ann Sonders, chief investment strategist at Charles Schwab.
As signs of a virus resurgence mount, investors have turned increasingly cautious.
The rally in those popular reopening trades — airlines, cruise lines and hotels — is seemingly losing steam.
Fed’s Kashkari warns bank losses could trigger next financial crisis…
The head of the Minneapolis Federal Reserve warned Friday that banks should “stop paying dividends” and “raise capital” as more Americans struggle to pay their loans and credit losses mount at America’s large banks amid the ongoing coronavirus pandemic.
“They can essentially inoculate themselves from COVID,” said Neel Kashkari, who ran the 2009 auto bailout.
The U.S. #economy is still reeling from #COVID19, with disproportionate impacts on black and brown Americans. To help @facethenation and @margbrennan navigate the crisis and answer YOUR questions, we turn now to @MinneapolisFed's @neelkashkari. Thanks for joining us Neel. pic.twitter.com/BwPQvmkxwS — Face The Nation (@FaceTheNation) June 19, 2020
Ultra-wealthy stocking up on gold…
ZURICH/LONDON (Reuters) – As stock markets roar back from the coronavirus-led rout, advisers to the world’s wealthy are urging them to hold more gold, questioning the strength of the rally and the long-term impact of global central banks’ cash splurge.
We are primarily funded by readers. Please subscribe and donate to support us!
Beginning Of The End For Dollar?
Dollar-denominated financial markets appeared to suffer a dramatic change on or about the 23 March. This article examines the possibility that it marks the beginning of the end for the Fed’s dollar.
At this stage of an evolving economic and financial crisis, such thoughts are necessarily speculative. But an imminent banking crisis is now a near certainty, with most global systemically important banks in a weaker position than at the time of the Lehman crisis. US markets appear oblivious to this risk, though the ratings of G-SIBs in other jurisdictions do reflect specific banking risks rather than a systemic one at this stage.
A banking collapse will be a game-changer for financial markets, and we should then worry that the Fed has bound the dollar’s future to their fortunes.
The dollar could fail completely by the end of this year. Against that possibility a reset might be implemented, perhaps by reintroducing the greenback, which is not the same as the Fed’s dollar. Any reset is likely to fail unless the US Government desists from inflationary financing, which requires a radically changed mindset, even harder to imagine in a presidential election year.


investmentwatchblog--2020-06-20--DON SURBER: Cancel Culture Just Got Fun

DON SURBER: Cancel Culture Just Got Fun

Jimmy Kimmel and Jimmy Fallon may lose their gigs as late-night hosts on ABC and NBC respectively for skits they @ @ @ @ @ television .
Kimmel ’ s skits were on Comedy Central ’ s Man Show .
@ @ @ @ @ Saturday Night Live on NBC , which proves even the people at NBC don ’ @ @ @ @ @ is an institution , not a comedy show .
The blackface skits are not relics @ @ @ @ @ They are bad decisions by comics and TV networks that should have known better .
@ @ @ @ @ “ Jimmy Kimmel has announced that he is taking a break from his late-night show @ @ @ @ @ spend more time with his family .

via donsurber
Jimmy Kimmel and Jimmy Fallon may lose their gigs as late-night hosts on ABC and NBC respectively for skits they did in blackface on national television.
Kimmel’s skits were on Comedy Central’s Man Show. Fallon’s were on Saturday Night Live on NBC, which proves even the people at NBC don’t watch SNL because it is an institution, not a comedy show.
The blackface skits are not relics of an earlier age. They are bad decisions by comics and TV networks that should have known better.
The Daily Mail reported, “Jimmy Kimmel has announced that he is taking a break from his late-night show over the summer, to spend more time with his family.


investmentwatchblog--2020-06-20--An Insider Exposes Google’s Political Bias

Google insider exposes political bias and search manipulation .
Google Executive caught on hidden camera .
This is obviously no @ @ @ @ @ shown nonetheless .

Google insider exposes political bias and search manipulation. Google Executive caught on hidden camera. This is obviously no surprise, but profound evidence shown nonetheless.
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h/t Dantronicus


investmentwatchblog--2020-06-20--WHO’S NOT AFRAID OF BLM?

WHO’S NOT AFRAID OF BLM?

On the College and Silence : A Letter from Hillsdale College .
Yes , there is one college president who still has a spine .
Amidst the events of recent weeks , a number of alumni and others have taken up formal and public means to insist that Hillsdale College issue statements concerning these events .
The College is charged with negligence — or worse .
It is not the practice of the College to respond to petitions or other instruments meant to gain an object by pressure .
The College operates by reasoned deliberation , study , and thought @ @ @ @ @ @ @ may be helpful and pertinent .
The College is pressed to speak .
It is told that saying what it always has said is insufficient .
Instead , it must decry racism and the mistreatment of Black Americans in particular .
This , however , is precisely what the College has always said .
The College is told that invoking the high example of the Civil War or Frederick Douglass is not permitted .
Perhaps it is thought that nothing relevant can be learned about justice and equality from the words and actions @ @ @ @ @ @ @ .
Instead , the College is guilty of the gravest moral failure for not making declarations about … justice and equality .
The College is told that it garners no honor now for its abolitionist past — or that it fails to live up to that past — but instead it must issue statements today .
Statements about what ?
It must issue statements about the brutal and deadly evil of hating other people and/or treating them differently because of the color of their skin .
That is , it must issue statements @ @ @ @ @ @ @ abolitionists whom the College has ever invoked .

On the College and Silence: A Letter from Hillsdale College. Yes, there is one college president who still has a spine.
Amidst the events of recent weeks, a number of alumni and others have taken up formal and public means to insist that Hillsdale College issue statements concerning these events. The College is charged with negligence — or worse.
It is not the practice of the College to respond to petitions or other instruments meant to gain an object by pressure. The College operates by reasoned deliberation, study, and thought. The following observations, however, may be helpful and pertinent.
The College is pressed to speak. It is told that saying what it always has said is insufficient. Instead, it must decry racism and the mistreatment of Black Americans in particular. This, however, is precisely what the College has always said.
The College is told that invoking the high example of the Civil War or Frederick Douglass is not permitted. Perhaps it is thought that nothing relevant can be learned about justice and equality from the words and actions of great men and women in history. Instead, the College is guilty of the gravest moral failure for not making declarations about … justice and equality.
The College is told that it garners no honor now for its abolitionist past — or that it fails to live up to that past — but instead it must issue statements today. Statements about what? It must issue statements about the brutal and deadly evil of hating other people and/or treating them differently because of the color of their skin. That is, it must issue statements about the very things that moved the abolitionists whom the College has ever invoked.


investmentwatchblog--2020-06-20--The fact that they’re losing their minds over this rally tells you that they know how effective Trum

The fact that they’re losing their minds over this rally tells you that they know how effective Trump rallies are.

WHICH PROVES IT ’ S GASLIGHTINNG ALL THE WAY DOWN : Media Raises Hysteria Over Trump Tulsa Rally After Celebrating @ @ @ @ @ media suddenly cares about social distancing again .
On Saturday , President Donald Trump announced @ @ @ @ @ major campaign rally in Tulsa , Oklahoma since the start of the novel Wuhan coronavirus @ @ @ @ @ originally planned for June 19 but was rescheduled to June 20 as not to conflict @ @ @ @ @ Juneteenth.
” As Tulsa prepares for the rally , the Trump campaign announced it had @ @ @ @ @ requests for tickets in an early sign that a silent majority backing the president surely @ @ @ @ @ poll numbers decline under nationwide social unrest .
The media however , is spiking fears @ @ @ @ @ be a deadly “ super-spreader ” for COVID-19 even after celebrating the mass protests that @ @ @ @ @ s cities and even drew participation from woke politicians .

WHICH PROVES IT’S GASLIGHTINNG ALL THE WAY DOWN: Media Raises Hysteria Over Trump Tulsa Rally After Celebrating Mass Protests.
The mainstream media suddenly cares about social distancing again.
On Saturday, President Donald Trump announced plans to hold his first major campaign rally in Tulsa, Oklahoma since the start of the novel Wuhan coronavirus pandemic. The event was originally planned for June 19 but was rescheduled to June 20 as not to conflict with the holiday on “Juneteenth.”
As Tulsa prepares for the rally, the Trump campaign announced it had received more than 1 million requests for tickets in an early sign that a silent majority backing the president surely exists, even as his poll numbers decline under nationwide social unrest.
The media however, is spiking fears that the large gathering will be a deadly “super-spreader” for COVID-19 even after celebrating the mass protests that took over the nation’s cities and even drew participation from woke politicians.
twitter.com/Heminator/status/1272356179403059207