PETER SCHIFF

PETER SCHIFF

Monday, October 12, 2020

👉3 Reasons why The Dollar is Losing its Reserve Status !!

👉3 Reasons why The Dollar is Losing its Reserve Status !! As goes oil, so goes the dollar. A Dollar Crash is Coming. The Dollar is gradually losing its World Reserve Status. Today The world is having serious doubts about the once widely accepted presumption of American exceptionalism. The era of the US dollar’s “exorbitant privilege” as the world’s primary reserve currency is coming to an end. China has been selling US bonds for a few years. Japan's purchase is not keeping up with supply from the treasury. The domestic economy can't buy all the new supplies because that causes the repo crisis last year. The Fed has to buy all the new deficit spending bond by using freshly printed Dollars. They are essentially fueling the stimulus with the Trust in The Dollar. This Trust is not infinite. There may not be one single replacement as of yet. The answer is a basket replacement, where the USA will still likely be first among equals, but not pre-eminent. Just in the last three years, The Dollar has fallen from 63% of global reserve holdings to 58%, part of a 30-year trend. At some point, a tipping point will be reached. Since 2000 the US dollar has declined as a reserve currency. The dollar will certainly be ceding primacy to a mixed basket. While the US dollar will be the largest single currency in the basket, instead of having a hard to justify the premium for its market value, it will face the same buffeting and assessment that other currencies now live under. Will most Americans know or care? Not in any immediate, material way, but make no mistake about it, at the low and middle end of society, Americans will be noticeably less well off than they have been, both in comparison to their parents and to similar people in the rest of the developed world. In the short term, there is a devaluation. A big one and probably the replacement with a basket of currencies weighted for the relative volumes of trade and administered by a recognized independent body...( that debars the World Bank and the IMF ). The position of the US currency is a relic of Bretton Woods. The best days are behind it. But America fights to ensure the benefits are not taken away. Other potential rivals are not yet strong enough to take the crown, and it will take a joint effort. But it is on the train. And when it happens ( more likely as a basket of currencies ), America will be left to pick up the pieces. That task will include the Deficits and the sheer volume of dollars repatriated. The British went through this, and the cost to the British people also recovering from World War 2 was enormous. The US dollar is overvalued at least by 40% against emerging and resource-based economies. A currency that is devalued by 40% can still remain a reserve currency. There is no requirement that there be a replacement for the US dollar. All that is needed is a DXY devaluation, along with higher interest rates. That's all, and there is a precedent in history for both. The US actually has a trade surplus against the world when measured in terms of hard physical goods, i.e., a massive physical goods surplus against China in exchange for a paper that is being unilaterally being printed by the Fed. This has been a most excellent bargain since 1971. I think what the rest of the world is now waking up to is that they want something more tangible or they want a lot more of those dollars in exchange for the same physical goods, and also vehicles to park those dollars, which will yield a lot more than what the treasury bonds currently offer. Therefore, the dollar has to go down in value, and interest rates have to go up—both significantly. The value is placed on it by the people. When they stop pretending it is worth something, it will collapse. Welcome back to The Atlantis Report. You are here for your daily dose of the truth, the whole truth, and nothing but the truth. Please take a second to click the like button. Many of you have asked me where they can buy silver and gold bullion. You will find in the description box the links where you can buy American Silver Eagle; Or Silver Bars or Rounds. I highly recommend that you start stacking some Silver Bullion for the future. The place of The Dollar as the world's reserve currency has been around for decades, and nothing has been done about it. But three things are now different: First is the fact that the US now accounts for only 10 percent of global trade and 15 percent of global GDP but half of the trade invoices and two-thirds of global securities issuance. This is stressing financial systems and causing a lot of hurts. Secondly, the Trump presidency has made much of the world reassess the assumption held since World War 2 that the US could always be relied on. The Trump administration will not last forever, but it will leave a legacy: it is now clear to the world that the US political system is not as robust as it was once thought. Who knows how future presidents will act, and how they might choose to weaponize the US dollar? Thirdly, in the past, there has been no real alternative to the US dollar, which is a major reason why the dollar hegemony has endured. But now it is possible to create a virtual reserve currency from a network of digital central-bank currencies. Of course, the role of the US dollar will not vanish overnight. But it seems likely that its days as a global hegemony are numbered, and with it the US dollar's strength. It will be interesting to observe the effect on the US consumer over the next decade or so. The timing is uncertain, but the US dollar's decline does look inevitable. The system now denies inflation, prints money that goes to wall street, which hands it out tax-free to the 48% of the country that own stocks. The ones who own stocks benefit from the printing. The other 52% just get the inflation the bill for bailing out the banks for selling fraud as AAA and stagnant wages that is not measured. The dollar blows up when the 52% can't afford a roof over their heads or to eat. Due to the recent American overuse of our stranglehold on financial settlements to damage our enemies with sanctions, in particular against Iran and North Korea but also Russia. Alternatives will be found, effective ones eventually, which may provide a crack in the dike that spreads into a flood of dollar workarounds. The U.S. weaponized SWIFT. Asian and Middle Eastern countries have had enough, moving away from SWIFT onto their own systems. People underestimate the impact of Saudi Arabia, Iran, Turkey, Russia, China, Egypt, Israel, UAE, Bahrain, etc. getting off SWIFT. This is not about the dollar. It's about the petrodollar. The EU and China will benefit tremendously from new emerging technologies, and so will the USA, but in relative terms, countries, and regions without oil and gas will benefit the most. It won't happen overnight, though, but we'd better start learning to live within our means because, in the future, we won't be able to print our way out of trouble as easily. As goes oil, so goes the dollar. Not to mention Digital Yuan and Ripple's XRP. The Saudi transferred over $400B US Dollar through XRP, bypassing SWIFT and the Dollar, saving a lot of money and time. As the US stop innovating the strength of the US Dollar currency and banking system, new technologies are going to challenge and eventually replace the Dollar on the world stage. No more unlimited deficit spending and sanction power. In theory, the U.S. dollar should depreciate based on Current Account considerations. But for that to happen, foreign Central Banks -- including PBC, ECB, and BOJ -- would have to stop accumulating reserves to prevent their local currencies from appreciating against the U.S. dollar, and excess global savings (financial flows) would have to stop coming to the U.S. Also, China would have to lift all capital outflow restrictions on the yuan, including eliminating the $50k annual personal allowance limitation. So, as Yogi Berra once said: “In theory, there is no difference between theory and practice. But in practice, there is.” A great reason to onshore U.S. manufacturing! We off-shored a good chunk of our industrial base to save money (labor costs). Now, significant U.S. dollar devaluation could change that calculus. The dollar is right where the federal reserve has manipulated it to be. When the Federal Reserve is the only one in the country allowed to price fix, this is the result. Markets with price-fixing from the federal reserve we don't have markets. The cause of the savings decline is from the federal reserve policy. The Fed has made it illegal to save. They have destroyed the time value of money and given it away to its owners the too big to jail banks. Bailing out banks who sold fraud as AAA with the interest that savers once got. The banks used to be partnerships where if they took on to many risks, it was the partners who suffered. That all changed in 1980 when the banks became a corporation. Nowadays, profits go to management with stock options, and bonuses and the stockholders, taxpayers, and savers pay for the loss with bailouts. Also, in 1980 after putting off the losses on the public, it increases the risk of gerrymandering the way inflation is the measure. If we used the 1979 way of measuring inflation, it would have been well over 10%, and the 28 trillion of printed money would have never been allowed to be printed and then stolen. It is the for sale to the highest bidder politician and the federal reserve robbing and pillaging the treasury that has gotten us to this point. The riots in the street are not from the police killing the black man in the streets; it is just the spark. The riots are from the federal reserve policies destroying the saver and his time value of money, giving it to the banks and wall street to commit more and more crimes with it. From denying inflation while the politician sells out the countries jobs and way of life to the highest bidder while the rule of law looks the other way. The FEDs mission since 1913 is coming to its last innings. The lender and buyer of last resort mean they are buying it all. As currencies devalue, the only safe haven will be the true money of gold and silver. Gold will be 10k and silver 350 Oz within five years. Bitcoin will be 50k or worthless as backed by nothing. From a historical perspective, the US is showing classical signs of empire in decline: ambitions and expansion far beyond its natural borders, internal contradictions surfacing, question marks over economics. However, historical perspective shortens time frames; in reality, empires were falling gradually over a century or centuries. All fiat currencies in history have failed from abuse from the banker and their politician. All currencies in history have failed in the end, sort of by definition: When civilization fails, its currency fails. The Pound lost its hegemony over the global financial system ONLY after fighting two epically expensive world wars. America has done the same,$7 trillion wasted in middle eastern wars. America is now in full tilt retreat. From unsuppressed insurgencies in our cities to gross political dysfunctionality to gargantuan fiscal debts, both public and private, we are now headed down a road from which we will not return. Strap into your seats tight; it's going to be a very bumpy ride. This was The Atlantis Report. Please Like. Share. Leave me a comment. Subscribe. And please take some time to subscribe to my back up channels; I do upload videos there too. You'll find the links in the description box. You will also find a PayPal link if you want to make a donation. Thank you wholeheartedly to all those of you who have donated. Stay safe and healthy friends!

Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

Thursday, August 20, 2020

👉Michael Pento Explains The 2020 Stock Market Bubble and How you can Protect Your Portfolio



👉Michael Pento Explains The 2020 Stock Market Bubble and How you can Protect Your Portfolio




Today The Atlantis Reports interviews Michael Pento, https://pentoport.com President and Founder of Pento Portfolio Strategies. He produces the weekly podcast called, “The Mid-week Reality Check.” And is Host of The Pentonomics Program. And Author of the book “The Coming Bond Market Collapse.” Michael Pento Explains What's Creating This 2020 Stock Market Bubble














Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

Monday, June 22, 2020

👉Mortgage Market Meltdown : Delinquencies Reach Highest Level Since 2011 !!










👉Mortgage Market Meltdown : Delinquencies Reach Highest Level Since 2011 !!



A house was a need, then it became an asset, and now an investment, and even speculative instrument in many cities. Buying a house in 2020 would be like buying a house in 2006! Anyone who buys a house right now is either a millionaire or an idiot. In about September or a little bit after, the government stimulus package will end, and you will see the real economy plays out. Layoffs will skyrocket, followed by bankruptcies, followed by foreclosures, and followed by the great abyss of depression. The average house is way beyond affordable for the average income in many areas of the country. We are overdue for a correction. It is a myth that an average income person should be able to afford an average priced home. There is a reason why less than 2/3 of Americans own their homes, and the rest are renters. If you have a mortgage or you're looking to take a mortgage out in their future or even refinance, then you definitely need to watch this video to make sure that you're fully informed. There is a clear imbalance between the state of the economy and the price level in the housing market. To take advantage of the low mortgage rate, it's unwise to pay $100K more in the conforming or $200K more in the jumbo market. V-shaped short-term reversal is not 'necessarily' recovery; a recovery is a sustainable event, so it's too early to talk about recovery. Welcome back to The Atlantis Report. You are here for your daily dose of the truth, the whole truth, and nothing but the truth. Please take a second to smash that like button. Thank You. Nobody in their right mind should acquire any more debt at this time. Instead, everyone should focus on getting out of debt and save, save, save for that mansion that’s around the corner. The average house is way beyond affordable for the average income in many areas of the country. We are overdue for a correction. The housing crash will happen after the auto loan default and credit card default. The housing market will be called next; it is a domino effect. The U.S. Housing Market Crisis Is Inevitable; Here's Why. Today U.S. household debt tops $14 trillion and reaches a new record. It added $193 billion of debt in the fourth quarter, driven by a surge in mortgage loans, and overall debt levels rose to a new record. Mortgage balances rose by $120 billion in the fourth quarter to $9.56 trillion. Now just to put all of this into perspective; In 2008, our entire economy had a meltdown. The banks collapsed because of mortgage debt, guess how much! How much was that debt back in 2008; 800 billion dollars! The unemployment rate today in 2020 is higher than 16 percent. Real unemployment as per shadow stats is closer to 40 percent. Compare that to less than 10 percent rate in 2008 when we had an economic bust. The economy is a dead man walking. Today Home-Mortgage Delinquencies Reach Highest Level Since 2011. Only 15% of homeowners in forbearance made payments as of June 15, down from 28% in May and 46% in April. What we have now is historic debt; a historic number of people with no income,45 million are jobless, and forbearance that allows those folks to not pay their bills until six months from now. The big question is, what happens six months from now when they have to start paying back their bills! What happens when the gravy train runs out! Many experts are claiming that very soon. You won't even be able to get a mortgage because so many banks and mortgage providers will be going bankrupt. Overall the banks have a very very high risk of taking on any new mortgages right now, and they know it. This is why they are declining mortgage applications in record numbers. We're already seeing tighter lending policies, especially if millions of people are now going to be living off 80 percent of their previous earnings. According to the mortgage bankers association or the MBA, about 8.55 of the mortgages are currently in forbearance, and that equates to about 4.3 million homeowners. Black knight, a company that provides data to the real estate and mortgage industries, reported that about 80 percent of people in forbearance right now have at least 20 percent equity in their homes. The homeowners who are at greatest risk of losing their house to foreclosure down the road are those who have lost their job and are not getting their job back. And despite The Federal Reserve cut interest rates to almost zero, surprisingly, mortgage lenders have actually increased their rates. This is due to the high demand they claim. The banks are not your friends. You've got to get that clear; they are not your friends. The banks know that a lot of people are afraid of losing their jobs, so they're increasing these interest rates. And people haven't really got a choice; they either accept it now, or they wait knowing they may lose their job and they won't be able to get a mortgage. So really these banks are preying on vulnerable people. The bank pay's you .05% interest on your savings account, but charge you 18% compounding interest on your credit card. Won't help much when 65% of Americans couldn't afford or have the means to cover a $400 emergency, and that was pre-COVID. So, wheres the downpayment going to come from! 70% of Americans carry $10k or more in credit card debt. Millions of people have lost their jobs permanently during COVID. How and who will benefit from record low mortgages? The people who already own and corporations that eat up the property. Unless they are going to loosen up lending restrictions and get back to subprime mortgages, which will lead to another 08 recession, once the pent-up demand due to the lockdowns wanes and the statutory restrictions are withdrawn. The real estate market will see a steady decline. The mere fact that 45 Million people lost their jobs and the vast majority of whom are homeowners will negatively impact the real estate market. Americans have skipped payments on more than 100 million student loans, auto loans, and other forms of debt since the coronavirus hit the US. The latest sign of the toll the pandemic is taking on people’s finances. The number of accounts that enrolled in deferment, forbearance, or some other type of relief since March 1 and remain in such a state rose to 106 million at the end of May, triple the number at the end of April, according to credit-reporting firm TransUnion. US home-mortgage delinquencies climbed in May to the highest level since November 2011 as the pandemic’s toll on personal finances deepened. The number of borrowers more than 30 days late swelled to 4.3 million, up 723,000 from the previous month, according to property information service Black Knight Inc. More than 8% of all U.S. mortgages were past due or in foreclosure. The increase in delinquencies was smaller than the 1.6 million jumps in April when the economy ground to a halt nationwide. Still, the path ahead is clouded by the spread of new Covid-19 cases, uncertainty over business reopenings, and the looming expiration of benefits that have helped jobless homeowners avert delinquency. Just wait till the mass evictions start, and the government now owns your home or apartment complex. 45 MILLION UNEMPLOYED;( with many more not counted) and more underemployed. And What about the 37 million of homeless people living under the bridges and supermarket parking lots begging for food and winter clothing; are they accountable to the 45 million jobless! And Illegals not included, that adds another 10 million easily. If you want a government-sanctioned hovel, then you must sign up for universal basic income and a vaccine. Families are going to be thrown out into the streets, and all their luxury items will be seized under civil asset forfeiture. Black Rock got 2 billion to gobble up homes after the scam of banks telling mortgage holders: " don't worry for three months" after that, you can't pay everything now? Lose it. They are partners. Bank gets a kickback for stealing your house for a 15 billion hedge fund that, for some reason, needed 2 billion more. Black Rock has over $7 TRILLION that enables them to purchase huge numbers of bankrupted businesses and foreclosed homes for pennies on the dollar. They bought up huge swaths of repossessed homes after the 2008 economic meltdown and then drove up rents across the country as absentee landlords. The US government just handed $6 TRILLION to massive bailout corporations like Boeing and cruise lines, while small and medium-sized companies couldn’t even get the application submitted for a bailout. Apparently, this “bailout” heist was planned before coronavirus emerged. The coronavirus is a smokescreen for the biggest heist in history. The virus didn't inflate this giant bubble. It just ended it. The pandemic was used to transfer wealth to eliminate the middle class and enslave the world. It was a master plan to steal trillions of dollars from taxpayers and save big corporations and Wall Street. The biggest transfer of wealth in history. Big banks and corporations were collapsing in debt, the repo market was completely out of control in Sep 2019, they had to do something, so they used this pandemic as an excuse to get billions of dollars in bailout money. Hedge funds and Wall Street walked away with billions. The government bought mortgage-backed security, junk bonds, everything. Wonder how many houses are going to be owned by banks after this is all said and done. Like 2008, except small businesses thrown in this time, it'll be the greatest transfer of wealth from the middle class in history. And like all Bank-owned houses, they will be stripped of all the copper, heating eq, anything that can be taken. Around here, banks let people live in the houses so the thieves wouldn't wreck them. Wait for boomers to start moving to Florida and leave the housing market from natural causes. That's when prices will really drop. That's exactly what's coming down the road. All western countries have huge amounts of baby boomers, and when they get older, they will need to cash out. We will see the biggest housing crash in history. The only reason prices were going up is everyone was Buying. Once the boomers start selling, it is the end of real estate. A huge bust is on its way. I think you better be prepared. Get a tent and a hobo stove. You will need it. What the fed and the government are doing now is delaying the problem and kicking the can down the road, which makes the problems even bigger in the future. Everything now because of COVID is in delay mode. Delaying the problem does not make the problem go away. It simply sets a new timeline for that problem. We are living on borrowed time. When stimulus payments end and the moratorium on evictions is lifted; We will see 35 million new homeless by the end of the year. Over $50 million in unpaid mortgages this month alone. Mortgage literary means "Death Pledge" in Latin. The Federal Reserve is destroying Savers right now by printing unlimited fiat cash, so the price will be inflation, and a wave of stimulus checks. Debt-free is the only way out. Building society and banks pay a pittance for people's savings but still charge over inflation rate and definitely a lot less than the savings rate, and it this money that they give as mortgages as far as I am concerned legalized thieves. And Nationwide has adverts saying they are for the people, what a load of tosh. How they jump from 0.1% interest to 5, 10, or 15% per year those "mortgage lenders"? What kind of job can you have to pay a $250K for a house! It has no meaning! But if you calculate in another way, the loan is created to never be repaid, and the "lender" repossessing the house, after a while. At that moment, the system has a meaning. A clear mean meaning! All in the plan. America will only have the big corporation's to deal with. Just look at who and what the government declared as essential, and you will see your future economy, no more middle-class businesses! The entire made up recession in the name of COVID 19 was to put people in more debt which is an asset for the creditors, More money for Wall Street's Ponzi scheme. In Germany, by the way, unemployment went from 4% to 6% because the German Government gave money to the People, not the RICH. The government has a perpetual claim on your assets, and it's called property taxes. No one owns anything in America except for the government. "Buying a house" is a long term rent that is permanently married in with property taxes. Try to stop paying taxes on a paid-off house, and you will quickly find out who owns your house and the land it sits on, hint - not you! The concept of ownership implies that a purchase price + sales tax is paid only ONCE. That being said, a homeowner is someone who voluntarily becomes a lifelong victim of legal racket and extortion. The tax structure should be changed. No one should be forced to lose their home in their golden years. Yet it happens every year. There are more equitable ways to get the funds needed to support the Government like income tax, sales tax, etc. In Pennsylvania alone, over 18000 people lost their homes because of the ever-increasing school tax on property. When the other taxes are used, instead, everyone pays to support the Government services, and the burden is not left on the homeowner. Housing people are the most optimistic people, but it takes a lot of optimism to buy a house and tie up your income for 30 years, Well, that is easily accomplished when you have real estate agents (the notorious "Realtors" and mortgage brokers colluding to get people to buy too much house with too big a loan... it requires instilling a LOT of optimism in that hapless buyer, and by gosh, they do it. Their commissions depend on suspending the disbelief and caution that any right-minded person would have when being asked to commit to perhaps the most illiquid and most expensive of all assets. Realtors always say that the best time to buy a home is today, no matter what time of year it is. A lot of people fall for pump scam. Buy a house because you want a home, and are willing to make the sacrifices that it will demand of you, but don't buy it as "an investment." If you want good returns, there are many better investments. The only problem is that they don't offer the eye-watering leverage you can finagle out of your bank when getting a mortgage. That gets a lot of people's greed-meter pinned into the red zone. As long as prices are too high compared to income(which it is in many areas), there is zero chance of a good year for the housing industry. The median-income, home buyer in Los Angeles, pays 103% of his monthly income for his newly bought, median-priced house payment. The FED might want to focus on making a sustainable economy, and not just focusing on preventing an asset price collapse for the baby boomers. The more these prices go up ridiculously for various assets, the less confidence I have for the US economy, going forward. The FED's version of inflation is not based in reality. The FED is lying to us about the economy to prop up the over-leveraged banks from collapsing. Wages can not support current housing prices. I wonder how property bubble 2.0 will end? Soon, only Chinese millionaires and billionaires will own houses in America, and Americans can rent from them. This was The Atlantis Report. Please Like. Share. Leave me a comment. Subscribe. And please take some time to subscribe to my back up channels, I do upload videos there too. You'll find the links in the description box. You will also find a PayPal link if you want to make a donation. Thank you wholeheartedly to all those of you who have already donated. Stay safe and healthy friends!
















Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

Monday, June 1, 2020

👉As America Burns , The Stock Market Soars !!









👉As America Burns , The Stock Market Soars !!




Stocks are up, Yet fundamentals are worse than the Great Depression. And the Circus continues. The Fed bought the open with both hands and feet. It is all Rigged! These markets are a frontrunning operation run by AI algorithms. Rome is burning; That’s good for 100 points on the S&P. This is the sickest day I have seen in this Ponzi fraud ever. Every major city in America is being set on fire and looted. Forty million unemployed. And they just keep pumping this Ponzi scheme in everyone's face. Further proof of how disconnected the stock "market" is from reality. As Americans get out of bed this morning, they are not going to give one damn about the market. They're going to find out that their nation has literally burned to the ground. The financial sector (Wall Street) is COMPLETELY disconnected from the REAL economy: People riot in the streets, millions of middle-class people in the US lost their job and income, but the stock market skyrockets. 2020 is 1984 on steroids. The true “looters” are in the Federal Reserve, Wall Street, and the Military-Industrial Complex. Their minions are the ones dressed in black and breaking windows, throwing firebombs, and inciting protesters to riot. They tried that at our protest yesterday, and nobody took the bait. There were “end the Fed” signs mixed in with “Justice for George Floyd” signs. People know who the real thugs are, and they wear suits and uniforms! Now you understand that the short downturn on Wallstreet was simply all part of the plan, and the rich get richer. Markets no longer trade on fundamentals. It's just an algo fueled shitshow. It's all a rigged scam so that the "1%" can continue to rake in more loot (taxpayers' money and fabricated currency). Markets ceased reflecting the health of the economy and reality in general decades ago - it's just too obvious to deny now. Riots, Burning, Protester out pillaging, White house lockdown, no goods available for the stocktake sales, Waits of over 40 days for anything needed urgently. Stupid is as stupid does. And The Stocks always go up, and up. Nothing matters anymore in a banana communist republic. Our wealth will continue to be inflated away, our jobs and manufacturing destroyed, our cities burning, church gatherings outlawed, as we take our place amongst the global peasantry of the New World Order. The Fed is buying spree is tapering. The fed is now buying corporate bonds and equities. Every Monday, the Fed needs a good kick at the can get things going, even better during a pandemic and brooding civil war. Spoof the futures and pump and dump into Robin hood retail all day long. Don't stop it till it stops. The only thing that will stop stocks from going up is if the Federal Reserve was ever fully audited. But it's never going to happen. They all know the books are cooked. They also know an audit will absolutely crush the dollar instantly, and they will lose everything to mass violence. Welcome to 2020 - everything is bull (ish). I can only imagine when unemployment hits 30%, and the U.S. military takes over major cities and installs FEMA camps. The Dow would hit 40k. As long as central banks print funny money notes and keep stonks on the level decided by the central committee, you can have them at 60k, for a while. Soon the defaults on all the business loans, and that should be good for another 10000 pop on Dow. How can markets set themselves up for new record highs, when hundreds of millions around the globe have been sacked or furloughed and are likely to become long-term unemployment statistics. Who controls the markets? Who stands to gain the most from this nonsense? The small guy or the banking cabal? There is your answer. The small guy will get crushed, and the one Percent protected by this group will gain. The degree to which soaring markets are diverging from the real economic virus damage, and now the rising rage, has become embarrassingly obscene. The players in the market know that the worse things get, the faster we arrive at negative rates. As Wallstreet laughs at it all and reminds the plebs; The Fed is your Daddy! They needed a pandemic with lockdowns, closures, along with massive unemployment and riots. Money changers, along with Fauci, are wringing their hands and smirking with glee in their eyes. All done by Design, all done by Agenda. It is all a show, everything is fine. The underlining strength in the economy is their" ALL HAIL THE ALL AND MIGHTY FED'. And, I thought the worst looting was being done by dims, Antifa, and the 99/100ths rioters. SEIZE, AUDIT, AND END THE REAL THIEVES: THE FED! End the Fed. Drain the swamp. Enforce the constitution. And remove all dual citizens from the government. Sound money forces the government to live within its means. Eliminate all fiat currencies, for starters. That should be easy. America had the example of Japan right in front of it. But the magic show had to be saved at all costs. For those who think QE will keep asset prices going up indefinitely, look at how QE has tapered. Bubbles are like balloons. They need constant hot air to stay inflated. "QE has become an inescapable trap." QE was an inescapable trap from the beginning. If circumstances are such that to not do QE is just too painful, yet QE will never allow that pain to lessen, you are in the trap. The only way out is through the pain. The worst part is, the pain is going to happen regardless, it will just be worse if it comes involuntarily. Here comes the pain. Greed, hubris, and ignorance have brought the empire to where it is today. The free lunch is over, and the rest of the world sees through the lies. The whole world is laughing at us going along with the globalism scam and our leaders selling gazillion and trillion dollars worth science, wealth, and jobs to China To enrich themselves and us becoming slaves to China. Treason like this never happened in history. And as the anarchists go head to head with the law and order crowd, The 1% kicks back and enjoys the show. Thus was it ever. Thus shall it always be. Get out of the market now. This is a big fraud by the banksters! The Market Has Reached Its "Maximum Stupid" Price Limit. Room for more suckers and bagholders at the top! The markets are all rigged, no need to report on them. Smart people walked away, crazy people try to guess the next move, and insiders know the next move. The wonder is, how bad does it get before the kingpins decide this is not good. The Gambling addicts, playing in the Wall Street Casino, will get wiped out. A Casino owned by the bank cartel. The house always wins. I believe there will be a four to six-month window where the markets will implode and reset to levels for a new beginning. Unfortunately, most people will be wiped out AGAIN, as they just can't resist. The market will go down, and it will remain down for quite a while, and the average investor will eventually sell at the bottom like they always do, and that is how wealth is transferred to those who DON'T need it to live off. The bankruptcies are going to be far and wide, and everyone is right now riding the FAANG's rather than looking at the reality of the rest of the market. With the peak stupidity government with lockdown, peak high stock market with a long queue of bankruptcies, semi-peak chaos on the streets, I am racing against time to accumulate all kind of tangible assets (not only gold), food (rolling 3-6 months) and cash buffer enough for 2-3 years. Thankfully, I am not in a city. Welcome back to The Atlantis Report. You are here for your daily dose of the truth, the whole truth, and nothing but the truth. The central banks are buying up to prop up their big corp & hedge funds friends. The "Empire of the City" is taking down the current currency system that is obvious. The probable plan is to back all current currencies with some new central fiat debt-based currency at a fixed exchange rate, i.e., like Bretton Woods architecture but all locked into their new Bancor. They don't want to scare the masses with sudden change, but then they have you by the balls as they control the price and volume of the underlying. Simple. And the end game/end times are approaching. Remember, at one time, $60 billion a month in Fed debt monetization was considered massive. I think they do that and more in a day now, although they are tapering to maybe $5 billion a day right now. I don't keep up on this level on minutia. While keeping the retirement accounts solvent is a noble idea, that goal is looking to be an impossible one after the next Wall Street liquidity withdrawal, aka the next and probably final financial markets crash. This one looks like the big one before the last one. Idiocy like ZIRP and NIRP combined with entire financial markets that require ZIRP in order to see their deals not fail, foreshadows a few problems ahead that more ZIRP won't fix. Neither will NIRP. The streets will look worse than they do now when this happens. Floyd was the trigger. The Communist Media, the fake Wuhan Flu Crisis, the forced house arrests, the Impeachment, and the Meuller Investigation / Frameup, and @Jack, The CEO of Twitter telling us he and his buddies are and always will be the boss of all of us; is the real reason for the riots. Add in failed MMT, and the end is nigh. MMT is poison. QE (Central Banking itself, actually) decoupled the financial system from a productive activity because it systematically rewards cronies at the expense of producers. MMT suffers from the same sin to a greater degree. You cannot cure poisoning by imbibing more poison. Revalue Precious Metals and other real assets to a price sufficient to back currencies. Let the debt junkies default. Do this, and the modern world will continue. Fail to do it, and you will get 1984 followed rapidly by Mad Max world. With markets this overextended, your window of time to take action will likely be quite brief. An end to the current rally could happen extremely quickly and brutally. Obviously, if you don't have some gold or at least gold stocks in your portfolio, now is the time to buy, make it 5% of your assets as a defensive play to the trillions of fiat that has been printed - which you know for sure, will hurt the buying power of the US dollar. Anyone who buys anything (except lead, silver, or gold) now deserves all he will get. Bankruptcy. The Protesters are sick of the FED, creating inequality. Now the FED is actively preventing the recovery. In a fair world without the Fed, those who had savings should have been able to buy stocks on the cheap and be rewarded. Instead, those who had the most debt will be bailed, and those who had savings are going to pay for it with higher prices. Another worthless American export to the world - central banking and QE. I don't see a peaceful way out of any of this. My only hope is that the anger is directed at the true perpetrators of corruption, graft, and theft. This isn't a left/right thing. It's a top/bottom thing. I hope all of you stay safe and have a plan. This was The Atlantis Report. Please Like. Share. Subscribe. And please take some time to subscribe to my back up channels, I do upload videos there too. You'll find the links in the description box. You will also find a PayPal link if you want to make a donation. Thank you wholeheartedly to all those of you who have already donated. Stay safe and healthy friends!





















Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

Tuesday, May 26, 2020

👉 R.I.P. Middle Class America








👉 R.I.P. Middle Class America




We are no longer the wealthiest middle class in the world. The country is falling apart. In the US, The Middle Class is shrinking. Pew Research Center data shows that in 1971 sixty-one percent of adults lived in middle-income households by 2016 that the number was down to 52%. Americans as a whole now have over thirteen point eight trillion dollars in debt, a number that's gone up nearly every quarter for the past six years. Almost 40 million Americans have lost their jobs since the coronavirus pandemic struck in March. More than the population of Canada. 21% of Americans now rely on welfare, 80% live paycheck to paycheck. The number of people living in vans and tents has been increasing at an alarming rate. The Middle Class is disappearing, squeezed between taxation and inflation. Goodbye Middle Class: The Percentage Of Wealth Owned By The Top 1% Just Got Even Bigger. Previously affluent middle-class Americans are now queuing for handouts at food banks, as America experiences the worst downturn since the 1930s and the Great Depression. This is what happens when your government doesn’t have a furlough scheme and gives the money to the executives Instead. As the cost of living has risen faster than our incomes have, more Americans have been squeezed out of the middle class with each passing month. Credit cards, student debt with no degree/worthless degree, 10-year auto loans; Cry me a river. The K-12 cartel has become a de facto Stupid Factory, stamping out worthless slugs. The majority have been forced to hand over their wealth to the state to fund their pension Ponzi. Pure socialism and that pension Ponzi is a debt. There is no capital. The end result - wealth inequality, pensioner poverty, austerity, high taxes, lack of investment. If you're not prepared right now, it's too late. Wait till the food Shortage starts after this year's harvest. The Farmers were not able to plant, thus harvest yields are low and will continue to be low for years to come. Food riots are coming to a city near you. There is still time to plant veggies. Food shortages: Fiat Money is backed by food. New Dumb Serfs are born every minute. Future Tax Serfs Will Work for food and water. You trade your time for money. Read Food/Water/etc. Your time is up when you go broke (Deep in debt) and/or can't work anymore. Of course, these opinions of mine are a bit obscure & don't apply to the wealthy. However, given that people work for more than the essentials, like food, clothing, and shelter, not working means no essentials, and though I oversimplified it with food, you'll understand better when the food supply gets disrupted. Venezuela understands this all too well; Zimbabwe does too. There are only two classes left in this country. Those who have enough in the stock market to make a difference. And those who don't. And the gap grows wider. Where is the fair return on savings? The good old USA - has the worst wealth inequality in all countries. Three people - Bezos, Buffett & Bill Gates - combined wealth is more than the combined wealth of 50% of the country. Absolute worst in the world. Even in India, it takes nine persons. Proving the USA is even worse than India on the wealth inequality measurement. After the coming crash/reset, only a small percentage of people will have the resources/savings/knowledge to keep their own homes, those with large mortgages will get smashed. Wealth will flow into a monied/property-owning class, which will be between 5-10% of the population. The rest of the population will never have the chance to own property or assets. They will have to live hand to mouth. At the minute the hand to mouth class is roughly around 50-60% and growing every year, let say it grows at 3 to 4% per year, then within a decade this will come true. Sadly, this can't be stopped. Many people have already given up and now base their entire life on a hand to mouth, week to week existence. The youth see no future, instead of rebellion like the punks of the late '70s, these downtrodden kids are happy enough to dodge reality by playing Playstation or talking to imaginary 'friends' on social media. The American neo-feudalism will be the logical conclusion of the American clan-corporate "capitalism" imposed by the USA in 1913. It is the giant sucking sound of our fascist government using corporate socialism to bleed the taxpayers to support the kingmakers. The upper class has already taken a good chunk out of the stock market. Now They're waiting to buy everything up cheaply after the crash. This Depression will transform America beyond the obvious. Just wait until the FED wants to inflate away the debt. The middle classes will disappear completely or be redefined as the 90% to 95% percentile. Middle-class America, You are an endangered species, your children and grandchildren will pay the COVID debt through their organs and labor. We are less than a decade away from Soylent Green, and yet the ignorant masses come out every Thursday at 8 PM to clap and bang on their pots and pans. They are the dead men walking but are too stupid to realize it. Whilst they can't sleep at night through fear and spend their days praying to their God ( The big government) to make it all better again. They are willing to line up in an orderly queue, keeping 6 feet apart, to be slaughtered by the same people in power they worship as gods. The middle-class private-sector class was already mortally wounded after Clinton, Bush, and Obama. This is the final nail in the coffin and will eliminate the private sector and the American middle class. The only sector that has survived is the government employees who continued getting paid even while they were shut down. The USA will become more like China, where the brightest student fights each other for a government job instead of some private sector work. So many Americans are happily bought off for a mere $1200. Acceptance of slavery is worse than slavery itself. Offshore accounts hide over half the wealth of the uber class. We cannot compare the lower 99.99% to them. They own half of this planet. All roads lead back to the fiat money system. It was introduced to tax and enslave the public. What we need is a sound monetary system without government interference, precious metals, or barter. We are forced to accept a currency that loses value every single second! The rich, in collusion with the government, have robbed the middle class blind! How is the poor responsible for all the money that is being printed out of thin air to bail out banks and big corporations!? We pay taxes to feed the 1%. We are carrying a huge parasitic load.No more no less! We are truly slaves, and those who vote and support this sick system are simply clueless! Bottom line in two simple sentences: - You suffer because you are forced to use federal reserve notes. -Your life sucks because the Fed and the Wallstreet gang stole all the wealth of the nation with the help of the guys you vote for. Period! The Fed creates wealth for those with political power. It destroys the wealth of others who lack political power. In the beginning, the gross numbers are impressive, while folks at the bottom suffer. In the end, even those who receive wealth transfers lose. By the time the economy collapses, everyone has forgotten what caused the problem. "It's called the American dream because it isn't real." The American Dream no more. The American nightmare more like. The reason they call it the American Dream is because you have to be asleep to believe it. Welcome back to The Atlantis Report. You are here for your daily dose of the truth, the full truth, and nothing but the truth. The middle-class family life and security have largely disappeared. The first cause is "neoliberal globalization" is something far less organic, or evolutionary than many would like to believe. It has to do with free trade, outsourcing, and the transfer of huge amounts of capital, entire industries, and millions of jobs to places like China with near zero-cost labor. It was not the working & middle class that benefited. They lost. It was the multinational corporations, the investment banksters, and the rich who benefited. From the 1980s on, all our governments, and all economists knew what this was doing to our economics, and they all knew the trend which was bringing out nations from creditor nations to debtor nations. The banksters in the West loved it because with the increased deficit financing trying to maintain our standard of living, the governments had to borrow more from them. In the process, they became even more powerful. With fewer jobs, less cash, there was less security for the things which really matter in raising a family - all supposedly because we want to buy our ticky tacky at the lowest possible cost no matter what it does to us in the long run! As for China, the one-child policy which began in 1980 and which has caused huge demographic problems for that nation, was, in fact, a condition of the US for opening up the trade that went back to the 1972 Nixon-Kissinger negotiations with the PRC government. There was no need for it as the Chinese people were already on their own, reducing their offspring from 6 per couple down to 3. If the anti-child, population-reduction elites who run our nations were behind the Chinese one-child policy, as well as our own anti-family and population-reduction policies, as most certainly they are, then they of all people were in a position in overseeing free-trade to see exactly what it was doing to family security in the West. The fact is all of the elites are bastards, and they only way the middle class will have any peace or justice for any kind of security is to remove all of them from power and strip them of their wealth. Since they deregulated banking and took off all the safeguards put in to prevent a 1930s style crash, we immediately get three crashes in 20 years. We need to ban banking across state lines again, and Amazon needs to be broken into 50 independent pieces. The people that fled the renter status of Feudalism by settling the new world became owners. The country that threw out George the Third was almost totally middle class because most people lived on farms and in homes that they owned outright. The foisting of the FED was the destruction of a real middle class since inflation forced people to borrow from the banksters in order to build what they could do independently before. Property taxes are an abomination since it converts everyone into renters. The definition of the middle class, no matter how impoverished, is someone who owns his property entirely unencumbered by debt. Today there are three classes in America. 1) The One percent. 2) the middle class, which is 12% of the population, and actually making a living wage. 3) The NEW LOWER CLASS which makes 87% of the population. Globalized wage slaves with huge indebtedness. The middle and the poor get harvested, and the rich get richer. This was the real purpose of globalism. The best way to define the "middle class," is this: people in the middle class borrow money from banks, for houses, cars, etc. The lower classes can't borrow, and the rich do not borrow, except through corporate entities, which are actually quite legally distinct. Now, some bloke out there with a $10k/month mortgage certainly would say he is upper class. He is the upper middle, perhaps. The working class is what created the middle class. The educated working class was the upper middle. Now they're just all a bunch of debt slaves. The outward projection of the 'middle class' looks good, but behind the scenes, it's living paycheck to paycheck. The only difference is that they're doing it in a nice house on the West side of town instead of a trailer on the south side down in the bottoms. "The ceaseless rise of non-discretionary costs " Costs are rising at a ridiculous pace, property taxes, utility charges, and fees; the outflow is getting to be pretty heavy. It will be interesting to see who ends up naked when the next tide goes out. The Elite feel you should be happy to have a job. You don't need savings or financial security. Now quiet down, and get back to work. Exactly, all by design to keep you slaving away while barely keeping your head above water. Same as it ever was. A roof over your head is also a luxury to the elite. Being middle class rather than muddle or upper class puts you at bigger risk from the government than either the rich who own the government or the muddles who really have no assets face. In ten years, we'll have more government no matter who we elect, and it's the true middle class who will suffer from it. This was The Atlantis Report. Please Like. Share. Subscribe. And please take some time to subscribe to my back up channels, I do upload videos there too. You'll find the links in the description box. You will also find a PayPal link if you want to make a donation. Thank you wholeheartedly to all those of you who have already donated. Stay safe and healthy friends!













Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

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