Monday, June 1, 2020

Bailout World with John Rubino

by Kerry Lutz, Financial Survival Network:

John Rubino says that it keeps getting better. Japan announces a $1.1 trillion bailout plan, which equals 40 percent of their GDP. The EU just announced an $826 billion liquidity plan. Lufthansa gets $10 billion bailout offer but doesn’t like the strings that came with it. Economies around the world are starting to reopen. Korea is having issues. In the US and elsewhere things are going pretty well. No vaccine or cure coming soon, but not being able to reopen assures an endless depression. However, the debt continues to increase geometrically. Stagflation seems to be the most likely result, but we could encounter a hyperinflationary bubble. You can create the illusion of health and normality by increasing debt, but is the latest debt enough to do it? The next year is going to be really interesting. If we don’t go back into lockdown, we’ll see how everyone handles the increased debt burden. Corporations have been on a borrowing binge this last month. They maxxed out their credit lines and issued new bonds to cover the difference.

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WARNING: U.S. Economic Depression, Precious Metals Bull Market

by Steve St. Angelo, SRSRocco Report:

With the U.S. heading into an economic depression, it will likely motivate more investors to protect their wealth in precious metals.  Thus, we could experience a U.S. economic depression and, at the same time, a bull market in gold and silver.

Interestingly, over the past two months, the major U.S. stock indexes heading higher even as economic indicators continued to show a BLINKING RED LIGHT.  How?  We can thank the Federal Reserve for single-handedly propping up the entire U.S. stock market.  And, the important level on the Dow Jones which couldn’t be breached, was the critical 18,000 support level.  So, when the Dow Jones Index miraculously bounced off this level back in March, shouldn’t be surprised.  Watch the video below to find out why this is the case.

Why the Fed’s Money Printing Won’t Save Main Street… Here’s What It Means for the Dollar

by Doug Casey, International Man:

Doug Casey’s Note: In the over 30 years I’ve known him, my respect—and liking—for Frank Giustra has only grown. Not just because he’s a world-class businessman, having built Yorkton Securities into a powerhouse, and then founding Lionsgate Entertainment. More relevant to this interview, he’s a first-rate judge of the markets—one of the best I’ve ever met at seeing turning points and understanding trends.

He’s one of the few financiers in the “Master of the Universe” class that understands gold and economics. Frank knows what he’s talking about. I suggest you read this closely.

“The Largest Ever Physical Transfer Of Gold”

from ZeroHedge:

Two months ago, when the market was in a state of near-total chaos as a result of a sudden collapse in global supply chains due to the hasty coronavirus lockdowns, one market that saw unprecedented turmoil was that of physical gold.

As we pointed out in late March, due to a sudden breakdown in physical gold supply as the world’s top gold refiners, those located in the southern Swiss town of Ticino, namely Valcambi, Pamp and Argor-Heraeus, suddenly stopped producing gold, the  result was a record divergence in the price of spot gold vs gold futures contracts…

There Will Be A Lot More Rioting, Looting And Civil Unrest As The U.S. Economy Continues To Crumble

by Michael Snyder, The Economic Collapse Blog:

What we have been witnessing on the streets of Minneapolis is just the beginning.  Our nation is so deeply divided, and a large portion of the population is losing faith in the basic institutions that govern our society.  Personally, I don’t know how anyone can watch the video of what happened to George Floyd without having an emotional reaction.  Police brutality has been a massive problem in the United States for many years, and it has gotten to the point where most of the country no longer has faith in the police.  Of course the rioters are not helping their cause by burning down the communities that they are supposedly defending.  And after causing so much chaos on Wednesday night, protesters were back in the streets of Minneapolis on Thursday

Nationwide Chaos: NYPD Precinct Attacked, CNN Vandalized, Treasury Breached As Mayors Beg For Calm

from ZeroHedge:

Update (2315ET): Rioters made quick work of the CNN logo outside the building, covering it with graffiti and standing on it, as if declaring victory over fake news.

In Atlanta, vandals broke into the College Football Hall of Fame where they stole memorabilia.