This article was contributed by Portfolio Wealth Global.
Lucy, you’ve got some ‘splainin’ to do! If these instances mentioned below even closely resemble reality, Biden’s victory lap is premature:
- A state stops counting and upon resumption, Biden’s tally surges.
- A USPS worker was arrested while bringing three absentee ballots from Canada into the U.S. – claims he took a wrong turn.
- Software glitches across the board. By the way, some of these software systems can be hacked online.
- Backdated envelopes.
For the sake of democracy and the American way, we hope these prove to be false or over-exaggerated, but we can’t deny that there are many Trump supporters who now doubt the official count.
When Trump tweeted “I WON THIS ELECTION, BY A LOT,” it took him four minutes to reach 40K likes. When he tweeted “Joe Biden should not wrongfully claim the office of president. I could make that claim also. Legal proceedings are now beginning!” he received over 600K likes. These represent probably 10% of the people who genuinely believe this election was not conducted fairly, so, in reality, we believe millions of Americans are now convinced these results to be real.
This may become a legal battle and I’m pretty sure that markets won’t like that in the least.
As you can see above, the media, in our opinion, will begin to report that a massive third wave of hospitalization and death cases has begun. With the elections currently tilting towards Democrats, all fingers will be pointed towards Trump (perhaps globally).
Biden’s security has been greatly enhanced, with a wide no-fly-zone over his home.
Germany has openly condemned President Trump’s behavior as dangerous and within his own party, he is under pressure to concede and to hand over the baton.
I am going to keep you posted on developments, perhaps even on a daily basis, since circumstances are changing so quickly.
For now, let’s recap what we got:
- Precious metals enjoyed an historic week of gains.
- Bitcoin, a cryptocurrency that we mentioned and highlighted right here in this newsletter when its price was less than $600/coin is now worth $16,000. This represents a 26.6x appreciation!
- Societe Generale, a very famous French bank, has calculated that QE programs have suppressed interest rates in the United States by a dramatic number.
This, of course, has served to widen the wealth gap, bring about societal unrest and lead to a debt bubble.
If bonds were not purchased by the Federal Reserve, they argue, the S&P 500 would be 1,800 points and the NASDAQ 100 would be worth around 5,000 points.
The proof is in the pudding.
- Lastly, because of the gain in the price of gold, which appears to have bottomed around $1,860 and silver, which appears to have bottomed just below $23.00, the sector has been recovering and mining shares are up noticeably.