With total global debt surpassing $233 TRILLION in 2017, we are well down the path of destruction of all fiat currencies, the only question is this: How much time do we have left before the day of reckoning arrives? Patrick Donnelly, an Independent Director and Geologist for Harvest Gold joins me to discuss.
by Mish Shedlock, The Maven:
Deutsche Bank says Trump’s America First policy puts the dollar last. BMO predicts a flattish dollar.
Let’s investigate the claim Trump’s ‘America First’ Puts the Dollar Last.
The administration’s “irreconcilable” goals of cutting trade imbalances while funding a large fiscal stimulus program pose the biggest challenge to the international monetary system since the breakdown of the Bretton Woods agreement in the 1970s, George Saravelos, global co-head of FX research at Deutsche Bank, wrote in a note. The only way to resolve these conflicting objectives is via a weaker dollar, he said.
That’s because the U.S. will probably struggle to attract sufficient foreign capital to fund its twin deficits, and that lack of appetite will likely translate to more currency weakness, he said.
by Pam Martens and Russ Martens, Wall St On Parade:
Yesterday, Wall Street mega bank, JPMorgan Chase, was the biggest percentage decliner in the Dow Jones Industrial Average, losing 2.79 percent. Goldman Sachs, another Dow stock, was third in line after Caterpillar, losing 2.56 percent. But that performance was absolutely mild compared to how other global bank stocks that aren’t in the Dow performed.
Morgan Stanley lost 3.55 percent; Citigroup shed 3.30 percent; while Deutsche Bank, a German bank heavily interconnected with Wall Street banks, that trades on the New York Stock Exchange, touched $13.34 intraday – its lowest share price in more than 30 years. Deutsche Bank closed the day at $13.40, down 3.67 percent. A U.S. unit of Deutsche Bank, which is designated a global systemically important bank (G-SIB), recently failed its stress test according to the Federal Reserve.
“There will be disruptions and dislocations”, the end of the dollar will come, the only question is, will you be ready when it does, says Trade Genius founder Bob Kudla. Kudla says that once the Dollar is bypassed “we will see gold skyrocketing and the stock market crashing.” It’s time to get yourself prepared.
by Brian Lantz, and contributions by Harley Schlanger, LaRouche PAC:
On July 25, 2007, as the first signs of the crisis began to emerge—the financial crisis that would ultimately lead to the collapse of Lehman Brothers and the near-collapse of the global financial system—economist Lyndon LaRouche opened a webcast with a warning that the system had reached a point of no return. He said:
“The world monetary financial system is actually now currently in the process of disintegrating. There’s nothing mysterious about this; I’ve talked about it for some time, it’s been in progress, it’s not abating. What’s listed as stock values and market values in the financial markets internationally is bunk! These are purely fictitious beliefs. There’s no truth to it; the fakery is enormous. There is no possibility of a non-collapse of the present financial system—none. It’s finished, now! The present financial system cannot continue to exist under any circumstances, under any Presidency, under any leadership…. Only a fundamental and sudden change in the world monetary financial system will prevent a general, immediate chain-reaction type of collapse.”
In the second half, Max interviews David Morgan of TheMorganReport.com about the latest in bond markets, whether or not the yield will invert and what next for precious metals.
by SGT, SGT Report:
Former US Assistant Housing Secretary and Publisher of the Solari Report Catherine Austin Fitts joins me to discuss the TRILLIONS of dollars missing from the coffers of the DOD, NASA and HUD.
Catherine says that the same forces the have looted our nation are also interested in destroying the US Constitution. Fitts explains:
“The people who run this country want to implement slavery. They believe in slavery. They practice slavery. They will chip you. They will take your kids and use them for pedophilia, they will try to make pedophilia legal.“