The Keystone Kops Central banks; and their gasping, fumbling market
manipulations; are clearly in their death throes. Most of the world’s
currencies have dramatically plunged – whilst the volatility of
currency “markets” has gone parabolic – which I might add, I two years ago
deemed the “single
most PM bullish factor imaginable.”
Which just happens to when the Cartel-orchestrated gold and silver “bear
markets” ended in most currencies – before the epicenter of such suppression,
the U.S. dollar gold and silver markets, finally bottomed this winter.
The global economy is, without question, its worst since the Great
Depression. Only then, the dollar was backed by gold, so debt was
infinitesimal. And of course, market manipulation had barely been
invented, so the business cycle was alive and well.
Ladies and Gentleman, we are in historically bad times; which is why
historically dangerous Central banks – i.e., the root cause of our problems –
have utilized historically dangerous methods, with historically catastrophic
ramifications. Fortunately, the end game of global currency
destruction, from the Bolivar to the dollar, is upon us. But
unfortunately, the chasm between this horrific event, and a new, better
world, will be historically painful. In other words, Central banks are
“shooting historic blanks” – which sooner rather than later, the entire world
will fully understand. And trust me, there will be revolutions over
this – as in Gerald Celente’s words, “when people lose everything, and have
nothing else to lose – they lose it.” Don’t believe me? Well,
what do you think of the below chart, of how the very people that
destroyed our world – and that of our children – get to benefit, at
our expense? I mean, how come they get to borrow at 0.25%, and
us at historically high rates? How come they are “too big to
fail,” whilst our failure is a desired outcome?
That said, Keystone Kops is indeed the operative word – as seen, for
example, in the comically transparent economic data manipulation they publish
each week. Or JP Morgan reporting “profits” whilst bank lending is
collapsing, non-performing loans soaring, and the trading environment so
illiquid, traders and hedge funds are having their heads handed to
them. Or the BLS reporting 200,000 “jobs” each month, when negative 200,000
is more likely. Particularly when incorporating a “birth-death”
adjustment that assumes “off balance sheet” jobs are being created, when more
actual businesses have died then been “born” since 2008.
As for GDP, the BEA last year introduced “double seasonal adjustment” when
it didn’t get the result it wanted; and still, 2015 produced the
weakest “growth” since the 2008-09 “Great Recession.” This year, we’ve
started off even worse – and after this morning’s horrific, “unexpected”
plunge in March retail sales, which unquestionably will weaken further in
April, the Atlanta Fed’s “GDP now” tracker for 1Q GDP – which started the
year at +2.7%, and fell to +0.1% last week, will certainly go negative.
But have no fear; as just yesterday, a day after the Fed’s “emergency meeting,”
the New York Fed introduced its own “FRBNY Forecast,” pegging 1Q GDP at +1.1%
(before today’s retail sales disaster). I wonder how much it costs to
have two comically wrong GDP forecasts produced each quarter – as
opposed to the vitally important M3 money supply calculation, which was
discontinued in 2006 due to the supposedly onerous $1.5 million annual
cost. Either way, the FRBNY Forecast, will turn negative, too – and not
just for the first quarter. Perhaps it could be “triple seasonally
adjusted?”
Speaking of Fed follies, recall a month ago, when the Dallas Fed
vehemently denied – via Twitter, no less – Zero Hedge’s
insider-sourced accusation that it ordered banks to delay the foreclosure of
failing oil and gas loans? Well guess what, it turns out it was
TRUE! Hey, at least in Italy, they admit banks have €360 billion
of non-performing loans – even if their “solution,” a gun-to-the-head funded
€5 billion (yes, just €5 billion) “bailout” fund was the best they
could do.
Yes, TPTB are shooting “historic blanks” in their attempts to control
public perception – in regards to data cooking, market manipulation, and the
MSM they so obviously control. I mean, yesterday’s top Yahoo! Finance
story was, I kid you not, “two Fed Presidents backed a rate hike” at the
March meeting, even though one voted against it, and the other isn’t
even on the Fed’s policy making committee. And as for TPTB’s “TV
arm,” CNBC, it outdid itself with yesterday’s “Cramer sees signs an earnings
explosion is coming.” Although, in their defense, even CNBC seems to
have backed off their “imminent rate hike” propaganda – not just because
Janet Yellen done so herself, but because actual interest rates, in nearly
all countries, have plunged to or near all-time lows.
As for “markets,: there’s only so long you can push oil up on horrific
news of exploding supply (see last night’s API report) and plunging demand
(see this morning’s OPEC – yes, OPEC – forecast), whilst all other
commodities remain mired near their lows. Or stock markets at record
high valuations, amidst the worst imaginable fundamentals. And as for
PMs, I’ve been writing for the past month of the Cartel’s maniacal defense of
$1,250/oz gold, and $16/oz silver – in the latter case, raised closer to
$16.20, which represents the “right shoulder” of the massive “reverse head
and shoulders” formation its manipulations inadvertently created over the
past year. As I vehemently espoused on yesterday’s Kerry Lutz podcast,
we are NO LONGER IN A PRECIOUS METALS “BEAR MARKET” – which is why going forward,
everything you’ve “learned” in the past four years, of how the Cartel “always
wins,” is about to be reversed, as was the case from 2001-11. And then
some!
Yes, “historic blanks.” And if you don’t believe me, consider first
what former Dallas Fed President Richard Fisher said on January 6th,
less than a week after retiring…
“The Federal Reserve is a giant weapon that has no ammunition left.”
And next, what current German Finance Minister Wolfgang Schaeuble –
the second most powerful European banker after “Goldman Mario” himself – said
yesterday…
“The ECB is causing extraordinary problems,” and “fiscal and monetary
policy is largely exhausted globally.”
Last I looked, when even the manipulators are turning traitor – from
Wolfgang Scheauble, to Alan Greenspan himself, it’s time to take action.
“Gold is money. No fiat currency, including the dollar, can match
it.”
And when said action involves buying the best monetary insurance
the world has ever known – for U.S. citizens, at its lowest ever
inflation-adjusted price, the term “no-brainer” could not be more
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