I’m 46 years old, and grew up in New York; and thus, know a lot about Donald Trump. Consequently, if at any time before last summer, you told me he’d one day be President, I would have laughed until I cried. After all, a man famous for bad marriages; a big, insulting mouth; and massively overleveraged investments in some of the worst imaginable businesses – from Atlantic City casinos, to the United States Football League – was as far from what I’d consider “Presidential material” as I could imagine. Frankly, if it weren’t for the acting chops he developed on the Apprentice; a show in which he became famous for insulting people each week – from teenagers to washed-up celebrities – before ceremoniously firing them, he would have ever come to the political forefront. As it turns out, an historically angry populace was looking for someone – anyone – to unseat the monsters that have destroyed our nation – and who better than a “no-nonsense” guy unafraid to challenge anyone?
That said, if you told me in May 2002 – when I made my first Precious Metal investment, under the premise of an “overvalued dollar” – that 15 years later, America would be a flat-broke geopolitical pariah with more enemies than friends, run more like a Banana Republic than the world’s leading superpower, I would have laughed equally hard. Unfortunately, here in 2017, America is no longer a “superpower,” but a rapidly declining empire; with a President so far over his head, that in less than three months, it couldn’t be more obvious that his first term will be his last. And whether one personally likes him or not; which I suspect, very few did until he started competing with some of the worst people America has ever produced, from Jeb Bush to Hillary Clinton; the fact is, that his unprecedented lack of diplomacy; inability to grasp simple economics; and most importantly, his status as an “outsider” seeking to overthrow an evil, self-interested political boys club; has made him the worst possible candidate to be America’s leader, at its time of greatest need. Not that I can think of anyone suitable for the job – as aside from the retired Ron Paul, American politics today, like those of the entire Western world – are populated by a cast of characters so unsavory, I feel like taking a bath anytime I hear them speak.
Let’s face it, there were only two reasons I voted for Trump in the first place. For one, I despised Hillary Clinton so much, I would have done anything – and voted for anyone – to make sure the Wicked Witch of the Western Hemisphere wasn’t elected. Let alone, putting one of the worst people on the planet back in the White House, as “First Husband.” And secondly, a potential Trump Presidency was viewed by what’s left of “markets” as anathema to history’s largest financial bubbles – and conversely, history’s most egregious Precious Metal suppression. Thus, when the powers that be doubled down their manipulative efforts on Election Night – after being “surprised” by Trump’s victory – my rancor against “the system” grew exponentially; leading us to today; when, just five months later, the catastrophe America – and the world – faces, is as terrifying; and potentially, imminent; as anything I can remember in my lifetime.
As I write, America is two weeks from a potentially devastating government shutdown – which “Congress” responded to by taking a two-week vacation; and one month from an explosive, unprecedented debt ceiling crisis. Moreover, its economy has NEVER been weaker; whilst its debt – and deficits – are rising parabolically. Meanwhile, Europe is one vote away – in France, less than a month hence – from being torn into pieces; whilst the Middle East is on the verge of a potentially devastating war; as dozens of global currencies serially collapse – either of their own Ponzi-esque weight, or due to the vicious currency wars its lunatic Central bankers have engaged them in. And nowhere is this threat larger than in the U.S. – where four decades of money printing, market manipulation, and propaganda are rapidly collapsing on the “leader” of history’s largest, most destructive fiat Ponzi scheme.
Two days after the election, I was in a state of “maximum anger” – after the Cartel denied my well-deserved “BrExit times ten” victory by smashing Precious Metals’ initial, correct reaction to Trump’s victory. Simultaneously, catalyzing the blatantly fraudulent “Trump-flation” propaganda meme –goosing stocks, base metals, and every asset class that shouldn’t have risen. Not to mention, igniting another multi-month cycle of PM smashing, based on the same old lie about a potentially strengthening economy and “hawkish” Fed. Knowing full well how ridiculous such scenarios were, I penned my MUST LISTEN Audioblog, “turning on Trump”; in which, I stated as logically as possible, how NOTHING proposed on the campaign trail was politically or economically viable. And thus, that it wouldn’t be long before the “Trump-flation” meme would die on the vine; and with it, the comical beliefs that interest rates would rise; Precious Metals would decline; and America would be any “greater” under Trump than George Bush or Barrack Obama; or what it would have been under Hillary Clinton.
Fast forward to today, and I’m not sure I could have been more correct – on essentially all fronts; political, economic, and monetary. To wit, the Obamacare “repeal and replace” is dead in the water. As are Trump’s “massive” tax cuts and “yuugge” fiscal stimulus proposals – which never had a chance of occurring. Let alone, as said debt ceiling crisis threatens to literally tear America apart next month; likely, making the 2011, 2013, and 2015 debt ceiling crises, combined, appear to be a proverbial “walk in the park.” Moreover, America’s economy is on the verge of recession, if not Depression; with the Fed’s own economists forecasting barely positive first quarter “growth” despite LOL, some of the strongest “confidence” indicators in U.S. history.
Yes, the same “confidence” that has produced historic collapses in commercial and individual lending; explosive delinquency rates; and a “retail Armageddon” that I assure you, has as much to do with flat-broke Americans; amidst the worst labor market in generations; as Amazon.com destroying the retail sector, or robots long ago replacing the jobs Trump hopes to repatriate. By the way, does anyone even remember his pathetic January tweetstorms, attacking any company that had the gall to build manufacturing plants in nations where, God forbid, they might have a chance to earn a profit? You know, like the Trump Administration has done for years – and all profit-seeking businesses – in rightfully outsourcing operations when logical business sense suggests doing so.
Meanwhile, U.S. government tax receipts are in freefall – screaming RECESSION as loudly as a military trumpet at Reveille; thus, yielding an annual deficit pace of more than $1 trillion, before said recession even arrives. And if the Fed is STUPID enough to continue its market-manipulation-supported charade about raising rates; albeit, from historically low levels, to equally historically low levels; let alone, if it attempt to “exit” its un-exitable $4.5 trillion balance sheet; it will only destroy what’s left of the economy faster, and further. Not that Fed policy matters a whit in the big picture; as, per the collapse in market-based rates like the 10-year Treasury bond; which as I write, has plunged through post-election support back to 2.23% – making my vehement January 11th call that 2.50% would represent the top appear that much more prescient; miniscule ¼ point changes in rates hovering just above 5,000 year lows are as effective as a ceiling fan on a 100-degree day.
As for Trump, from day one I espoused that the thing I feared most about him was his inability to co-operate with anyone, or display an iota of diplomacy. Even Hillary Clinton, aside from when she was attacking Russia in an attempt to frame them as election stealing “hackers” – which ironically, her own team of criminals personally wrote the book on – knew better than to antagonize world leaders, fellow Congressmen, and every Tom, Dick, and Harry that had something negative to say about her. As did Barack Obama, George Bush, and Bill Clinton. Heck, I can’t think of a single politician in my lifetime, President or otherwise, who has insulted or demeaned as many people as Donald Trump had done in the first three months of his Presidency – from major world leaders and allies (in many cases, major creditors) like China, Germany, Australia, and Mexico; to petty celebrities like Meryl Streep and Snoop Dogg. At this point in America’s rapidly declining empire, when NOTHING can be done to fix the unfixable, the most we can ask for is a diplomat. And the mere fact that I’m describing said Wicked Witch as more diplomatic than our current President should tell you all you need to know about how rough the road ahead will be.
As for Trump’s campaign promises, I can forgive the aforementioned failures to deliver the three he spoke of most vehemently – as from day one, I knew replacing Obamacare, enacting material tax cuts, or launching a major fiscal stimulus program were politically (and economically) unviable. And frankly, the alternative of Hillary’s desired single payer healthcare system – which inevitably, will arrive anyway – was so horrible, I would have done anything to prevent her from enacting it. However, like Barack Obama before him, Trump campaigned on a stance of reduced military intervention; which, like Obama, has been reneged upon in the grossest imaginable manner, in an incomprehensibly short amount of time. Heck, Trump took mere days to decide Syria’s (likely fraudulent) chemical weapons usage was a cause for invasion (and potentially, a bloody confrontation with the likes of Russia and Iran – like Bush and Obama before him, without Congressional consent (as if they’d ever say no to an invasion). I mean, at least Bush had the sense to spend months concocting lies about Iraq’s “weapons of mass destruction” and connections to 9/11 before launching America’s bloodiest, most destructive war since Vietnam.
Moreover, Trump has threatened China’s sovereignty in the South China Sea; and yesterday, dispatched a “powerful armada” to North Korea; setting the stage, potentially, for a three-front war against imaginary evils – clearly, in an attempt to drive through the one campaign promise he’ll likely get his way on; i.e., the biggest military budget increase in U.S. history, atop the largest military budget the world has ever known. And by the way, if North Korea’s “major announcement” this afternoon relates to an advancement, or convincing test, of its nuclear arsenal, Donald Trump’s aggressive threats toward it – and China, which he demanded to “solve” the North Korea problem – are a major reason why.
However, it’s the last 24 hours in which the “death of a Presidency” have been so blatantly obvious; and with it, the hideous, world-destroying monetary system underlying the dying American empire. As not only did he renege on no less than five major campaign promises – listed here – but formally re-engaged his war on the dollar; re-upping the ante on his pre-inauguration comments that the “too strong” dollar was “killing” us – which the title of my article at the time, “Trump takes the final currency war thermonuclear, putting the gold Cartel on notice,” describes en pointe.
Yes, in an interview yesterday, with none other than one of America’s historic Pied Pipers of Bubbleville, Maria Bartiromo, Trump once and for all ended the comically fraudulent “strong dollar” propaganda meme – in stating that not only is the dollar “getting too strong” (ironically, after it has recently plunged from its post-election highs); but that “I must be honest with you, I like a low-interest rate policy.” In other words, taking a page out of the book of Japan’s hideously disgraced Prime Minister, Shinzo Abe – who has not only destroyed what’s left of the “land of the setting sun” with inflation, but is the only other politician to have overtly bullied his Central bank.
Comically, Trump claimed the strong dollar is “partially my fault, because people have confidence in me”; when in fact, the dollar is rising not due to confidence in Trump, but fear of the global economic conflagration to come. Heck, Trump has not only reversed his campaign rhetoric of America’s “big, fat, ugly bubble” – conversely, taking credit for post-election gains; but actually told the Wall Street Journal he’d consider re-appointing Janet Yellen as Fed Chair, after having viciously attacked her loose-money, bubble-creating policies on the campaign trail. But hey, this is the same man who spent a year complaining of NATO’s obsolescence; until yesterday, that is – when he changed his mind, calling them “no longer obsolete.” I mean, if America is going to have the biggest military budget in history, we might as well throw NATO a few hundred billion toilet paper dollars, too. Right?
In response to Trump’s “weak dollar” comments, Precious Metal prices surged – this, despite yet another comically blatant rigging of the criminal London gold fix. And as I write, gold and silver are up to $1,286/oz and $18.53/oz, respectively – having put considerable distance above their respective 200 week moving averages of $1,246/oz (where gold bottomed, to the dollar, during Monday’s Cartel raid) and $18.15/oz. And frankly, given Trump’s currency war initiating comments – and all the other political, economic, and monetary risks factors on the near-term horizon (culminating with the French Presidential election on May 7th; i.e., the potential “BrExit times 100”); it’s difficult to believe the “200 week moving average war” hasn’t already been won. Which, if today’s price action ends the day as it started, may well launch the “silver Waterloo” I alluded to last weekend, given that the COMEX “commercials” (i.e., the Cartel) are sitting on their largest-ever paper silver short position, ahead of what could be an extremely “interesting” three-day weekend. In other words, if there ever was a time to PROTECT YOURSELF with physical gold and silver purchases, it’s NOW.