The life of a financial market truth-teller is lonely; as most of the world’s 7.5 billion people no longer have – or never had – funds to invest; whilst the rest, particularly in the Western world, have little concept – or interest – in reality. Working – and being in invested in – Precious Metals is particularly frustrating, because decades of Keynesian brainwashing; and market and economic data manipulation; have rendered the average investor clueless. Sadly, in world where mind-numbing “creature comforts” like social media, reality television, professional wrestling, and online gaming have become leading entertainment outlets, interest in truth is weakening with each debt-accumulating, economy-destroying, currency-inflating day.
Conversely, my blog is as much a labor of love as a job – and in fact, when I joined Miles Franklin five years ago, I had already been producing internet commentary, primarily for the GATA website, for seven years. To this day, not a penny has been paid by anyone, anywhere, to read my articles – currently, 250 or so per year; or listen to my podcasts or Audioblogs, which I am now producing at a rate of 100-150 per year. Hopefully, you have found value in this content – and the Miles Franklin Blog’s in general – as it is important to us that you have the tools to make sound, unbiased financial decisions, as it is for us to protect ourselves personally from what’s not just “coming,” but here NOW. And anyone reading this article outside the States, where the “reserve currency” has enabled our economic and monetary collapse to progress more slowly, knows too well what I mean by NOW.
To that end, following the horrific Precious Metal attacks that commenced Wednesday – mere hours after gold and silver had the gall to close above the Cartel’s summer-long, post-Brexit “lines in the sand” of $1,350/oz and $20/oz, respectively; on the heels of economic reports so ugly that even the most jaded Washington and Wall Street apologists acknowledged it, I have yet again been forced into 24/7 blog preparation and creation. Saturday morning at 4:30 am, I dutifully awoke to script the majority of a must listen, 31-minute Audioblog, “The Ultimate Policy Error From the Ultimate Keystone Kops” – which I taped Sunday morning at 6:00 AM.
Yet, it didn’t take long before I was forced back into action, by Hillary Clinton’s disturbing “overheating” episode in New York – which once and for all, proved her health issues are not only real, but so bad, she is being rendered unelectable. To wit, I wrote on August 18th that “Hillary Clinton’s ongoing health saga could wind up being the most destabilizing geopolitical and financial market issue of 2016.” And now, more than ever I believe it to be a “clear and present danger.” And by the way, for those who haven’t followed her health issues closely, the inconsistencies in the “official” accounts are as blatant as those regarding her email server and the Clinton Foundation’s sources and uses of funds. Like, for instance, deeming her recent coughing fits “allergy-related,” despite allergen levels being non-existent; before changing the diagnosis to “pneumonia” (in August?); mere hours after describing yesterday’s disturbing collapse as “overheating,” which last I looked, was not a generally accepted medical term.
In my view, the abysmal U.S. economy; growing global anti-establishment sentiment; exploding wealth disparity; and the traitorous, treasonous email server and Clinton Foundation scandals, on their own, are enough to produce a resounding Trump victory. However, now that her health, at age 69, is clearly failing, it’s hard to believe anyone would vote for her. Much less, as she blatantly insults the populace, by calling half of Trump’s supporters a “basket of deplorables” – whilst her supposedly “diplomatic” ex-President husband equally tastelessly mocked the “coal people” of West Virginia and Kentucky.
To that end, what amazes me most is that people have not yet learned their lesson regarding the rigged mainstream media, “polls,” and “betting lines” – which cumulatively, are as desperate to lie about the status quo puppet Hillary Clinton into office as government accountants via economic data cooking ; and government market manipulators like the President’s Working Group on Capital Markets – i.e., the stock PPT; the Federal Reserve – i.e., the bond manipulators-in-chief; and the Exchange Stabilization Fund – i.e., the gold and currency Cartel.
Back in June, I wrote of how UK betting lines were “moved” by a handful of unnaturally large bets to make it appear the Brexit vote would fail – just as UK polls were rigged to give the same perception, mere hours before being exposed as the shams they were. Well, the same is occurring today; as incredibly, despite Trump’s exploding popularity – and surging anti-Hillary sentiment – polls still show Hillary slightly ahead, or at worst in a dead heat. Meanwhile, the easily manipulatable betting lines (given how little money is actually spent on them) show Hillary to have a dramatic lead!
True, Hillary’s “odds” of winning have taken a big hit since yesterday – with the majority of their decline occurring this morning, after she cancelled a campaign trip. However, the fact she is still a prohibitive favorite, according to Election Betting Odds, shows you just how rigged such “markets” still are. And FYI, David Stockman’s recent “call” that a 40% equity crash will commence at or around the first debate on September 24th – if Hillary is healthy enough to participate, that is – is predicated on the upcoming, universal realization that Hillary won’t win – relative to current “expectations.”
That said, when it comes to financial markets – and elections, for that matter – the economy is always the most important variable. And given that the (global) economy is quantifiably, at its worst singular point of our lifetimes; and rigged financial markets – again, quantifiably – more overvalued than at any time in history – it couldn’t be more obvious which way the “point of least resistance” is. Conversely, Precious Metal prices have NEVER been so undervalued relative to actual, physical supply and demand – let alone, amidst the accelerating collapse of history’s largest, most destructive fiat Ponzi scheme.
Which is why what we have witnessed this week – as markets start to show genuine fear of what Central bankers have wrought – looks as much like the start of “the Big One” as anything witnessed to date. To that end, I’d advise you to ignore the spin and propaganda about how Japan’s potential “reverse Operation Twist” is “roiling bond markets” – as for one, it ain’t going to happen; and secondly, I hardly think the miniscule rate rises over the past week, relative to the all-time low – in many cases, negative – rates they arose from, are going to matter a whit.
Or, for that matter, whether the Fed raises rates or not. Which, I might add, they most decidedly will NOT – next week, nor EVER – given the world’s ghastly, irreversible addiction to ultra-cheap credit. To that end, the pathetic “investment world” is now hanging on every word of every criminally stupid, blatantly corrupt Central bank official – like Fed governor Lael Brainerd, who speaks today at 1:15 PM EST; as if an ounce of truth – or wisdom – will ever emanate from their mouths. Let alone, the soon-to-be-destroyed belief these Keystone Keynesian Kops have the ability to predict or control anything over the long-run – which, in my opinion, is “starting” NOW.
And of course, the Cartel’s latest, “greatest” Precious Metal raids – as in 2008, in a desperate attempt to prevent gold and silver from being universally recognized as the “ultimate safe havens” they’ve always been. Which, like 2008, are bound to catalyze a massive physical buying frenzy, particularly if prices are held at today’s ridiculously low values – perhaps, imminently.
To that end, we were treated to the 157th “Sunday Night Sentiment” raid of the past 163 weekends last night; as well as the 697th “2:15 AM” attack of the past 802 trading days; and of course, a COMEX-opening waterfall decline, just as gold was about to turn positive. Meanwhile, interest rates – whose miniscule rises this week have been propagandized as the “reason” for plunging PM prices, are unchanged this morning. That said, if rates were plunging, the “explanation” for falling PMs would be “deflation.” And by the way, look out for the results of today’s U.S. 3-year and 10-year bond auctions – ironically, 15 minutes before Brainerd’s speech – which I suspect will be extremely strong; yet again, demonstrating how little actual market participants believe “rate hikes” are coming.
Before I go, I have a few disparate, but connected topics to discuss. The first, Central banks’ increasingly vocal efforts to convince governments to take the “stimulatory leadership” – by initiating new rounds of unprecedented fiscal stimulus, like the Kamikaze Japanese government is about to do. Sure, that sounds “great” on paper – other than the fact that it has never worked before; and irrespective, can only be financed by hyper-inflationary Central bank monetization.
Secondly, for those actually worried about “rate hikes – as if rate hikes have any historical correlation with falling Precious Metal prices – take a gander at what commodities and currencies are doing this morning; in a word, free falling toward the year’s lows, as global economic activity – and the perception that Central bankers can save it – is collapsing. This is what drove gold to be the best performing asset in 2008 – Cartel attacks notwithstanding; as well as during the equity/commodity/currency crashes of August 2015, January 2016, and June 2016, to name the most recent episodes.
Last but not least, in a rare “conspiratorial moment,” I yesterday considered the Democratic Party’s – and by proxy, the Obama Administration’s – “reaction” if Hillary is deemed too unhealthy to run; let alone, to actually win. A friend suggested Joe Biden would be brought back, despite the fact he made it clear he has no intention to run. However, even if they actually “convince” him to run, the fact remains that he is 74 years old, compared to “just” 69 for ailing Hillary and her equally elderly counterpart, Donald Trump. And oh yeah, he has not a chance in hell of defeating Trump head-to-head, particularly as he would have zero time to campaign.
Bernie Sanders? LOL, he is more reviled by the Democratic Party than Trump himself. And oh yeah, he’s no longer a Democrat, having left the party after Hillary accepted the nomination. How about Hillary’s Vice Presidential candidate – who I’m guessing, the majority of the population couldn’t even name? Or a random, well-known Democrat? Such as, for instance, Nancy Pelosi or Harry Reid? Don’t make me laugh! Frankly, if Hillary is unfit to run, the most logical route the Democrats would take, in my view, is to try to delay the election, on account of the “force majeure” event that his Hillary’s declining health.
Could it happen? Frankly, I have no idea, although I look forward to what the coming two months have in store – knowing full well, that holding physical Precious Metals as my primary storage of value, I have both the current reality, and thousands of years of history, on my side. As quite obviously, there’s a direct correlation between “Hillary’s failing health, and the powers that be’s failing market control.”