This article was contributed by our friend Lior Gantz of the Wealth Research Group.
This cannot be reflated THAT QUICKLY. What we’re seeing is the 2008 IMPLOSION with a 12-yr delay. Treasury Secretary Mnuchin has said that the markets will stay open, but it’s UP IN THE AIR right now.
Officially, this has killed retirement for tens of millions of people. We are going back in time, CONSERVATIVELY, by 6-7 years.
By the time this is over with, 10-15 years of EQUITY, hard work, sweat, imagination, and creativity, might go DOWN THE TOILETS.
The various segments of society are treating this much differently.
Business leaders are thinking in terms of SURVIVAL and their responsibility to thousands of families, who depend on salaries to STAY AFLOAT.
Investors are looking at their retirement cushions – which one month ago were at ALL-TIME HIGHS – dissipating like steam.
Every single day, STOCKS are halted. The volatility is like nothing we’ve ever encountered.
The bullion dealers are limiting orders of gold and silver to only a few thousand dollars and the DELIVERY DELAYS are in the range of 6-8 weeks.
Yet, the number of casualties in America is fewer than the amount of people that attend a wedding.
The lesson here is that we are INCAPABLE of properly dealing with a pandemic.
We have, single-handedly, RUINED our lives. China was six weeks late in containing it, and from there we’ve been in a WORLD OF HURT.
I fully ANTICIPATE that the societal changes we’ll undergo will be UNIQUE.
We are living in a new world. This was CHECKMATE for the fiat monetary system. It proved itself to be a GIANT house of cards, built on bullshit economics.
This bubble is deflating so fast that Usain Bolt can’t keep up with it.
From here on, no one will be impressed with how veterans SURVIVED the Dot.Com bubble bursting. The coronavirus of 2020 is going to be ENGRAINED in the psyche of the masses. It will leave a scar that will not heal or get better for decades.
In the case that this isn’t fixed soon, between 15 million and 30 million Americans will be out of a job.
The government will not only send checks to every American, but they will have to resort to NATIONALIZING industries and embarking on a TRILLION-DOLLAR infrastructure program.
We aren’t going back to normal by any stretch of the imagination.
In the history of the United States, authorities have closed the stock market in 1914 (WW1), in 1933 (bank holiday of the Great Depression), in 1963 (JFK) and on 9/11.
The VOLATILITY INDEX has now gone higher than in the Lehman Weekend!
This country must find the strength and inspiration to turn this around and UNITE, or risk falling apart on MULTIPLE LEVELS.
At this moment in time, my two BIGGEST takeaways are that (1) there’s no way IN HELL that people ever trust their retirement funds to be there when they need them. (2) I believe that share BUYBACKS will become illegal and that CEOs, this time around, will be put to justice.
The court of public opinion is going to bury so many well-known people.
As much as this has been ALMOST SURREAL thus far, it’s really not over.
Check this out:
This is our generation’s Pearl Harbor, our GREATEST test and, on a personal basis, it’s a time for self-reflection.
I’ve spent considerable time speaking with top-income earners in many industries. I’ve spoken with CEOs, venture capitalists, and WHALE INVESTORS.
I’m telling you that the sentiment is WORSE than in 2008. Many have thrown in the towel.
The markets are BEGGING to be closed. In fact, I’m BREAKING this news here first. As I see it, for the first time in the MODERN ERA, investors are PRICING a default by the TREASURY!
I’m going to repeat that: The world is beginning to consider that Washington is NOT STABLE.
On Sunday, I’m going to publish an EMERGENCY BRIEFING. Stay tuned!
Well, well, well,
Our Grandparents still remember the ‘Great Crash’ of ’29…a pity that we learned nothing from that singular lesson.
The take-away here is simple: IF you cannot stand over your supposed wealth holding an Assault Rifle with which to defend it, then it really wasn’t yours in the first place.
In the mid 90’s, the Bankster’s lobbying arm bought a sufficient number of Congress-Critters to effect an effective repeal of Glass-Stegall…the only standing between said Bankster’s and tens of Trillions of dollars of their favorite thing on Earth…OPM, ‘Other Peoples Money’. Glass-Stegall was implemented by our Congress in response to the egregious abuses of the Banking system in the ‘Roaring Twenties’ that led directly to the consequent in ’29…The Great Depression.
In essence, what Glass-Stegall was engineered to do was to compel Banks to be Banks ONLY and Brokerages to NEVER engage in ANY banking practices whatsoever. By doing that a modicum of security in both the Stock Markets, the Commodity Exchanges and the Banking/Brokerage system was ensured.
To be sure, there was one hithero unmentioned point involved in securing that stability; the Gold Standard. When ‘Tricky Dick’ Nixon removed the bindings holding the broader markets to a physical accountability as measured in Gold then began the debasement of all stores of value inasmuch as what we call ‘money’ became fungible…meaning that at a very high level the Bankster’s could simply wave a magic wand and materialize new MONEY into existence by way of the creation of credit…VAST amounts of credit.
But…the BILL comes due, doesn’t it?
Now, we stand at the point where all your stocks, municipal bonds, 401K, Gold Stocks and Certificates may shortly be reduced to their intrinsic worth; the paper they are printed upon.
Instead, what will likely come is a return to an age where Wealth is measured in the THINGS you possess…a return to a time before money, before fiat, before hypothecation.
Many here have long known in their hearts that the incredible House of Cards which the Financier class spent so much effort creating since the creation of the Fed early last century, was eventually going to blown apart by a strong wind.
Congratulations to all who had the foresight to intuit what was coming…you stand vindicated! What comes now is a deep, dark night…but be at ease, the Dawn WILL come again, onesuch as has never been witnessed by Men in all of history. The Financiers will be GONE, the cancerous Governance will be GONE leaving only US. Surely that will have been worth the long wait most have suffered through.
A Salute to all my Brothers and Sisters, me and mine will see you on the other side…and we WILL greet all of you with JOY.
PS: I have said this before…Now is the time to begin THINKING about what we will replace what is passing away before our eyes. Dwell on it if you will…
It’s so sad to see this once great site go to shit like this. Used to be hundreds of comments. All I see are a few newbies and the occasional old timer. Anyway, I got me 2 pellet stoves and have 1 installed. What a great awesome tool! Heats the whole house with no firewood cost or mess! Comfortbuilt hp22! This could have paid for itself in 2 years compared to wood and propane! Waaayyyy cheaper and safer too. I found a brand new one in the crate on craigslist for 1000 bux! And a new returned hp50S for 500 bux! 1/2 and 1/3 price! I can run either of them offgrid with my solar too! I have regular woodstove backup at both places so no worries.
So how is the shopping fiasco going for you all? Got toilet paper? If you have no food you can;t make a turd so why do you need it? I will trade you a sandwich for a case lol. Be sure to tell your kids why they are so miserable too ok???
Pretty sure that the country will UNITE around sending the fucking scum bags that are blaming the economic implosion on the coronavirus to prison, like the fucking psychopath that wrote this bullshit propaganda article! You look like shit because you are full of shit Lior Gantz! Please, get the fuck out of this country, so that you can no longer harm anyone, and take your ilk with you!
Oh ya 1 more thing…. Save your heads from your runs. You can run them again and make some 180 proof (90%) alkyhol. Mix it with aloe vera gel for good hand sanitizer (since the retards cleaned out the stores).
You Suck Lior Gantz! You are a total fraud and theif! Was it the coronavirus? or was it the fact that total market cap to GDP ratio was 155% compared to the even ridiculously high average of 83%?!
So GDP grew by 2.25 % from 2016-2019 but the Dow grew by 33% during that time?!
This is total bullshit! Why, oh now I remember, because the Obama years QE led to pension short falls that wiped out interest rates and pensions had to make up for the losses in yet one of many financial fraud schemes!
Don’t you ever get sick of being full of shit on Wall Street?!
No Wall Street Bailouts! No more! No more! No more! It’s why I left the RNC in break-neck lightening speed in 2008! This is not capitalism, socialism, communism, or agrarianism! It is complete financial fraud!
The truth is that there ought to never be any interest at all or any stock market because the stock market is a financial fraud scheme! Profitable businesses never go public! Never! Never! Never! The truth is that less than a dozen publicly traded companies use GAAP! The truth is that the entire economy has been complete bullshit since we went from being a creditor nation to being a debtor nation!
Oh, not to mention the $700 trillion in derivatives! More financial fraud from high rollers on Wall Street! What a fucking coincidence that households will spend much less money when forced to remain home and not allowed to spend money on entertainment, and what a fucking coincidence that for the first time in history the Federal government delayed money sent to it in income taxes to protect their co-conspirators! The Banksters! What a fucking coincidence that people are forced to stop using cash to prevent bank runs! This is total bullshit! No government in U.S. history has ever confined people, even though the plague wiped out 50-60 percent of Europe, and the 1918 spanish flu killed 500,000 Americans! Of course we can the medical mafia, Silicon Valley, the military, and governments drooling at the prospects of more money through extortion and fraud for the Superman Complex Confidence Confidence Schemes!
This is what happens to fantisies they meet the real world. It was fun but the paper money party is almost over and we will go back to Econ 101 and pride will tell us we learned the lesson this time. The only lesson that we learn is we don’t learn and those really smart peaple are not smart but greedy.They always tell us that gold is bad let us hold it for you use this easy to carry paper folding money and we do.We have somthing even better its a card and now you don’t have to carry money at all all you need to do is let us have all your info. We will be told that if we give up more of are stuff they will make it all safe to go back to work and pay those high we saved your ass taxes you are(we) now taxes slaves. Just remmeber to tell the govment before you do anything to any of your(govment) property that mite effect the value for everything including us is held by the banks because of the bailout loans.