from ZeroHedge:
Unlike in the 2008 financial crisis when a glut of subprime debt, layered with trillions in CDOs and CDO squareds, sent home prices to stratospheric levels before everything crashed scarring an entire generation of homebuyers, this time the housing sector is facing a far more conventional problem: the sudden and unpredictable inability of mortgage borrowers to make their scheduled monthly payments as the entire economy grinds to a halt due to the coronavirus pandemic.
by Pam Martens and Russ Martens, Wall St On Parade:
At 4:30 p.m. today, the Federal Reserve released the shocking details of what it has been up to in the past week. Its balance sheet has skyrocketed from $5.3 trillion as of March 25 to $5.85 trillion yesterday, a growth of $557 billion in one week’s time.
One of the factors affecting this growth was a $142 billion jump in the amount of its Central Bank Liquidity Swaps, where it provides dollars to foreign central banks in exchange for their local currency. During the last financial crisis, some of these dollar swaps were used to bail out global foreign banks that were in trouble. Given the current condition of numerous European banks, and their ties through derivatives to Wall Street’s mega banks, there is every reason to believe these dollar swaps are another thinly disguised bailout of a Frankenbank-financial system – for the second time in 12 years.
by Michael Snyder, The Economic Collapse Blog:
Approximately ten million Americans have filed new claims for unemployment benefits over the past two weeks. To put that in perspective, the all-time record for a single week before this coronavirus pandemic hit was just 695,000. So needless to say, 6.6 million claims in a single week puts us in uncharted territory. Just check out this chart. We have never seen a week like this before, and we may never see a week quite this bad again. Of course millions more jobs will be lost in the months ahead as this pandemic stretches on, but it is hard to imagine another spike like we just had. When you add the last two weeks together, somewhere around 10 million Americans have filed new unemployment claims during that time period…
by Bill Holter, Miles Franklin:
This past year was jam packed with news of all sorts. Some was surprising, some of it was expected, while other news seemed to either be another dot to connect or an outlier dot to be connected later. We even got news from time to time which even in today’s world could be considered bizarre or surreal. Suffice it to say, were we receiving the current news of today just 15 years back, the financial and social worlds would have been in outright panic. Not so today, the sheep are sound asleep even while a few well intending herders are sounding the alarm. The populace in general have become dumbed down, beaten down and barely able to read past whatever headline it happens to be for the day. Let’s call the condition “comfortably numb”…
by Steve St. Angelo, SRSRocco Report:
Due to Mexico’s Ministry of Health issuing an Executive Order for the immediate suspension of non-essential activities until April 30th, the mining industry in the country has now come to an abrupt halt. The mining industry was hoping for an exemption to the Executive Order, but was not granted one. So, companies are now suspending production and putting their mines on care and maintenance.
by Jan Nieuwenhuijs, Voima Gold:
The Germans are hoarding gold. I estimate that the Germans own 9000 tonnes in private gold—nearly as much gold as the French and Italians have combined. What is their motivation?
We must distinguish monetary gold from non-monetary gold or private gold. Monetary authorities like central banks hold monetary gold, while the people own private gold in the form of bars, coins, and jewelry. For the financial stability of every country not only the monetary gold reserves are of interest to us, but also private gold hoards.
by Jim Hoft, The Gateway Pundit:
Documents from the Securities and Exchange Commission in 2011 show Soros Fund Management LLC invested heavily into WUXI Pharmatech Caymen, Inc.
WuXi AppTec, as it is now called, has a facility in Wuhan, China. The company provides validated research including in vitro (HTS, SAR screening support) and in vivo disease models in cardiovascular, respiratory, metabolic and infectious diseases.
The document was filed with the US government in August 2012.
by Alex Christoforou, The Duran:
More evidence confirms more FBI and Mueller gang lies and cover ups. This time a Deep State Anti-Trump former Assistant US Attorney claimed under oath that the FBI did examine Seth Rich’s computer and that she met with an FBI Agent and prosecutor from the Mueller gang. This indicates the meeting should have been recorded in a form 302 but the FBI continues to claim no records related to Seth Rich are available!
by Joseph P. Farrell, Giza Death Star:
Someone who wishes to remain so Anonymous that they don’t even want me to use their initials spotted this article and passed it along. It has me wondering, and doubtless, will have you wondering too:
https://nocamels.com/2020/03/israel-china-coronavirus-testing-myheritage/
This intrigues me because it prompts an obvious question: what the heck is a DNA-heritage testing company doing involved in helping China create a corona virus test? Well, for one thing, recall those stories early on as the corona virus story stated to go Viral (pardon the pun), spreading faster than the virus itself. Those early stories indicated that oriental peoples, and particularly Chinese, were more susceptible to the virus due to much higher numbers of receptors in their lungs for the virus to latch onto. In other words, there appeared – initially at least – to be a genetic component to the story, one which has all but dropped off the radar altogether in the past few weeks. Hence, it makes eminent sense for such a company, experienced in genetic sequencing, to be involved in a quick start-up for corona virus testing.
by Peter Schiff, Schiff Gold:
In yet another unprecedented attempt to keep the air in the financial bubbles, the Federal Reserve announced the establishment of an international repo facility.
The repo facility will allow foreign central banks and other international monetary authorities to enter into repurchase agreements with the Federal Reserve. According to the Fed announcement, FIMA account holders can temporarily exchange their US Treasury securities held with the Federal Reserve for dollars that can then be made available to institutions in their jurisdictions.
