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We're about to feel the consequences of the #'s actions (creating and then pretending to fight #). It's going to be very painful. I'm joining @ and @ on a livestream to share my latest predictions. Book your place here
UN Agency Warns of Global Recession Due to Tightening Monetary Policy @
Just because some government agency has for now classified # as a commodity for regulatory purposes doesn't make it a commodity. Bitcoin has none of the characteristics of an actual commodity. I understand the required disclosure distinctions. But I also understand fraud.
The premium on my Ct. homeowner's insurance policy rose 38% since last year. That's because # increased the replacement cost of the home. Plus, I'm required to spend lots of money on risk mitigation systems. I've owned the home for 13 years and have never put in a claim.
Inflation Is State Sponsored Terrorism: A Metal Exchange Interview With Jeff Deist @
Central Banks Add Gold for Fifth Straight Month @
The price Americans will pay for Tarp, Obamacare, PPP, and all Govt. programs that lead to the massive build up of debt since the 2008 financial crisis is #. Double digit annual inflation will soon be a way of life in America. Better get use to it and invest accordingly.
The problem for the # is that # policies will be even more inflationary than those of the #. While Labour will be more inclined to increases taxes on the rich, spending increases will more than offset the revenue. Larger deficits will cause higher #.
Labour Opens Up Massive Lead In UK Polls zerohedge.com/technology/lab…
Since my bank moved to Puerto Rico in 2017 it received 24,714 new account applications. Compliance rejected 18,561 and closed 5,603 accounts for red flags. 98% of account applications were rejected or closed. @ accused the bank of waiving applicants through & no compliance.
This week's @ Friday Gold Wrap podcast
Mark Anderson, the former Pres. and 50% owner of Euro Pacific Bank passed away yesterday of a heart attack. I believe the stress related to @ falsely accusing the bank of financial crimes, causing its demise, was a major factor contributing to his heart condition and death.
Study Shows You Need More Silver in Your Portfolio! @
Here is the press release from yesterday's press conference with my U.S. attorney to discuss the latest on my defamation lawsuit against @.
Hurricane Cleanup Will Stimulate the Economy? Not So Fast! @
Today was a key out-side reversal day in the #, #, and Treasuries. These are significant reversal patterns that strongly suggest a top in the dollar and a bottom in gold. For Treasuries, I think the bottom will be proven false. Prices will soon fall through a trap door.
Pending home sales fell 2.0% in Aug., more than twice estimates, and the 3rd consecutive monthly drop. YoY, sales are down by 24.2%. As sales fall, prices follow. As prices fall, defaults follow. As real estate wealth vanishes, consumer spending falls. A financial crisis ensues.
Yesterday the average rate on 30-year fixed rate mortgage hit 7.08%, the first time above 7% since 2002. This is also the biggest YoY rise in mortgage rates since 1981. That year 30-year fixed rate mortgages peaked at 18.63%. Current mortgages rates still have a long way to rise.
Today's sharp pivot by the BOE amounts to a key "emperor has no clothes" moment for central banks. They've barked loud about their mutual resolve to fight #, but high levels of sovereign and private debt mean they have no bite. They are paper tigers that will soon fold.
Gold Is One of the Best Performing Assets of 2022 @
Don't miss tomorrow's 2PM EDT press conference. My U.S. lawyer will discuss and take questions regarding the recent Australian court ruling that fount the @ hit piece that accused me of tax evasion and money laundering to be defamatory. Call (800) 225-8609; use code: 34865.
The S&P 500 just took out its June low, extending the bear market decline to 25% from Jan.'s record-high. With 30-year mortgage rates set to rise above 7% today, real estate prices will follow # prices lower. Collapsing wealth + soaring debt service costs = financial crisis.
Feelings Trump Economics: Price Gouging Edition @
Calling the Fed’s Bluff: They are Holding a Losing Hand @
As someone trying my best to conserve the scarce diesel (which has doubled in price) I need to power my generator, despite living in an area of # with zero wind damage and no flooding, I can say we are not well supplied. Instead of just waiving the #, repeal it.
As the story about a ship trying to enter Puerto Rico to deliver diesel & needing a Jones Act waiver plays out, US Coast Guard tells me: non of the fuel facilities in the USVI & Puerto Rico have communicated a need for diesel. “They are all comfortably supplied,” Coast Guard says
Peter Schiff: Biden Putting America at Risk to Prop Up His Own Image @
The reason governments want to "fight" # with tax cuts and not spending cuts is that the former is popular with voters. But what voters don't understand is that only the latter will work. Tax cuts will actually make the inflation problem they're supposed to solve worse!
The reason governments want to "fight" # with tax cuts and not spending cuts is that the former is popular with voters. But what voters don't understand is that only the latter will work. Tax cuts will actually make the inflation problem they're supposed to solved worse!
This week's @ Friday Gold Wrap podcast.
When @ falsely accused me of using my bank to help Australians launder money and evade taxes, there were lots of articles written that repeated the false allegation. But now that an Australian judge has ruled that broadcast defamatory, not a single article has been written.
When @ falsely accused me of using my bank to help Australians launder money and evade taxes, there were lots of articles written that repeated the false allegations. But now that an Australian judge as ruled that broadcast defamatory, not a single article has been written.
I wonder how much longer # can defy gravity. When the speculators who've been waiting for Bitcoin to moon finally throw in the towel, it will come crashing back down to earth. The free fall will accelerated with forced sales related to margin liquidation. Look out below!
I've won the first part of my defamation lawsuit against Nine Entertainment and Nick McKenzie. The judge ruled that the @ broadcast was defamatory. The next phase will be damages. Since the defamation crippled my bank and caused its liquidation, my damages are substantial.
Central Bankers Gaslighting Us About the “Strong” Dollar @
Remember the 2008 financial crisis was obvious for years, yet hardly anyone on Wall Street and no one at the # saw it coming. The crisis we are rapidly approaching will be much greater, and is actually even move obvious. The same fools who missed 2008 are as clueless as ever.
The yields on a 5-year U.S. Treasury is now 3.94%, the highest since Nov. of 2007. 5.25% will be the highest in 22 years. The low interest rate environment that has propped up an overly-indebted U.S. economy is crumbling. Soon the entire house of cards built on top will collapse.
The yield on 10-year U.S. Treasuries is now 3.67%, the highest since Feb. of 2011. At 3.75% it will be the highest since April of 2010, and at 4.15% the highest since July of 2008. This could easily happen before the end of Oct. The National Debt has more than tripled since 2008.
Fed Policy in a Nutshell: Live in Hope; Die in Despair @
Atlanta Fed Lowers Q3 GDP Growth Forecast Close to Zero @
As late as Sept. 2021, with rising # threatening to push interest rates up, Treas. Sec. Janet Yellen claimed there was no need to worry about the size of the National Debt as interest rates were still very low. Dammit Janet, is it time to start worrying yet?
Janet Yellen said rather than worrying about the size of the #, we should just focus on the currently low debt service cost. That's the same mistake banks made in qualifying mortgage borrowers based solely on their ability to afford the temporarily low teaser rates.
Even if 4% interest rates could return # to 2%, what if it takes five years to get there? Also, what if the average inflation rate over those five years is 5%? That’s another 28% rise in prices. Even this “rosy” scenario would be a disaster and cause a financial crisis.