Chris Temple from The National Investor – Thu 11 Jun, 2020

Recapping the Fed statement and market selloff today

Chris Temple joins me to share his thoughts on the Fed statement and Powell’s press conference from yesterday as well as the market selloff today. While not too much new came out of the Fed statement it is abundantly clear that rates will remain low and QE is here for a long time. The selloff today is continuing and pretty much every market is being dragged down with it.

Click here to visit Chris’s site and follow along with his market calls and stocks he likes.


Comments:
  1. On June 11, 2020 at 12:26 pm,
    Ebolan says:

    ZIRP and NIRP are insane. So we need the Cubs to win the World Series again, right Chris? 🙂

    • On June 11, 2020 at 1:28 pm,
      Temple says:

      Ha ha,…something like that!

  2. On June 11, 2020 at 12:44 pm,
    Dick Tracy says:

    I don’t know whether Trump can fire Powell, he appointed him and if Powell can’t keep the markets buoyant Trump will try to replace him. DT

    • On June 11, 2020 at 1:31 pm,
      Temple says:

      Deep down, for his surprisingly lack of basic knowledge and facts at times, Trump realizes in the end that it is all politics and perception. Jimmy Carter was a one-term president, because he was blamed for what had been done prior by Nixon and Nixon’s Fed chair Burns. Bush, Sr. claimed Greenspan cost him a 2nd term. And The Orange Wonder has been desperate to set up Powell as the bad guy if things aren’t looking too chipper on election day.

  3. On June 11, 2020 at 1:02 pm,
    Fritz Bender says:

    Orange wonder, Emperor Ming, solar system. Sounds like you have the main ingredients of a action adventure flick. Good stuff Chris and Cory

    • On June 11, 2020 at 1:33 pm,
      Temple says:

      There was a guy years ago who had a web site during Bush, Jr’s time toostupidtobepresident.com. The cartoons and skits were priceless…wish I’d downloaded them all and saved them. YES, lots of fodder these days, too! Though as far as cartoons, Ben Garrison has some beauties (partisan and very pro-Trump most of the time, in his case.)

  4. On June 11, 2020 at 1:27 pm,
    Nigel says:

    My portfolio of miners looks like I took them to the Somme and sent them over the top, hope everyone else did a bit better than me

    • On June 11, 2020 at 4:33 pm,
      Glenfidish says:

      The gold market and miners has a way to shake and buck most.. I remain firm with what I said the last two weeks and won’t waver. We got the expected pull back/consolidate and shake them of day today.. I’m expecting a big green candle tomorrow if not by Tuesday targeting first $1782 and putting these miners back on track for further gains.

      • On June 11, 2020 at 6:25 pm,
        Nigel says:

        I agree but I was certainly shaken today.

        • On June 12, 2020 at 3:41 am,
          Glenfidish says:

          I agree Nigel I would be lying if I said I don’t have my own worries at times. Then along comes Matt with one of his famous charts and puts everything back into perspective.. What we already know but in a chart that speaks a million words.

  5. On June 11, 2020 at 3:14 pm,
    SilverDollar says:
  6. On June 11, 2020 at 3:23 pm,
    FIH says:

    You are too much of a gentleman to be referring to President Trump as the “Orange Wonder”. You disrespect yourself and the “Office of the President of the US” in my opinion. MSM is winning. Consider the alternative that could have been. How can Human Trafficking, Epstein, Ukraine, etc get a free pass? There are many persons of different nationalities that have family in the US. I’d bet my bottom dollar that the vast majority hold the US in high esteem and appreciate someone with guts that will stand up to China, etc..

    • On June 11, 2020 at 3:28 pm,
      OOTB Jerry says:

      Good Point….FIH……..I agree on … How can Human Trafficking, Epstein, Ukraine, etc get a free pass?
      We seldom talk about real issues, ….over looked and corrupt as hell.

    • On June 11, 2020 at 4:24 pm,
      Temple says:

      I use that derisive term from time to time when the president says/does something especially inane. But I hope you also notice the times that I am quite complimentary when the situation calls for that. I am a score keeper; neither for nor against Trump. And I certainly do agree that the alternative in 2016 – and now – is worse.

      And I hope that the president, if he gets a second term, finally WILL be more energetic in rooting out what evil he can; but that is an uphill battle.

  7. On June 11, 2020 at 3:25 pm,
    Excelsior says:

    Wall Street Breakfast: Too Far, Too Fast?
    Jun. 11, 2020

    “U.S. stock index futures, along with global stocks, are taking another turn for the worse as investors cash out of an extraordinary rally following the latest comments from Fed Chair Jerome Powell. While he vowed to continue aggressive stimulus “and keep interest rates near zero for years,” he struck a cautious note on jobs, undercutting the hopes for a V-shaped recovery. “My assumption is that there will be a significant chunk, well, well into the millions of people who don’t get to go back to their old jobs and there may not be a job in that industry for them for some time. It could be some years before we get back to those people finding jobs.”

    “The Fed sees GDP plunging 6.5% in 2020 (before bouncing back to a 5% gain in 2021) and the unemployment rate to be 9.3% at year’s end. A clearer picture may arise today as the Labor Department reports weekly jobless claims following last Friday’s surprise of a 2.5M increase in nonfarm payrolls for May.”

    https://seekingalpha.com/market-news/wall-street-breakfast?utm_medium=email&utm_source=seeking_alpha&mail_subject=wall-street-breakfast-too-far-too-fast&utm_campaign=nl-wall-street-breakfast&utm_content=link-59

    • On June 11, 2020 at 6:44 pm,
      David says:

      Seems like it was all set up before the market opened. They blew all the stops, triggered the hedge funds and got a bunch of people in a margin situation. Deja vu. Could have also been an overbought New York Fed bubble and interference in markets time to drain the balloon. Could have been another day in the neighborhood. I’ve given up on a rational reason for anything. If it was rational we might be able to head things off. Not popular with our masters.

      • On June 12, 2020 at 3:42 am,
        Excelsior says:

        Yeah, it seemed more like an overbought day in the neighborhood getting reigned in with a corrective hand slap. 😉

    • On June 11, 2020 at 4:02 pm,
      OOTB Jerry says:

      The Vancouver-based miner, which produces silver, lead and zinc from mines in China, originally offered C$105 million (about $75m) for Guyana Goldfields. It later upped the offer to C$227 million, as Gran Colombia Gold (TSX: GCM) submitted a separate, rival proposal.

      Guyana said last week it had received yet another bid from an unnamed “foreign-based multinational miner.” The offer valued the company at C$323 million ($240m), which was 35% higher than Silvercorp’s sweetened offer.

      • On June 11, 2020 at 6:11 pm,
        Excelsior says:

        Hey there OOTB. Yes, I saw the news and had posted it on the other investing blog today.
        ________________________________________________________

        (SVM) Silvercorp gives up bid for (GUY) Guyana Goldfields
        Jun. 11, 2020

        https://seekingalpha.com/news/3582200-silvercorp-gives-up-bid-for-guyana-goldfields
        ___________________________________________

        In a way this is a relief. I was fine with the initial bid from Silvercorp for Guyana, but didn’t like when they upped their stakes on the 2nd bid to outbid Gran Colombia Gold, and was worried they would do it a 3rd time now that this “foreign-based multinational mining company” raised the stakes once again.

        I’d rather see Silvercorp go after a distressed Silver producer or developer in Mexico, Canada, or Australia, or to take over New Pacific Metals since they already have a 29% stake in it in Bolivia.

        Having said that, if they found another distressed Gold producer that would have good economics, and they have the cashflow and experience to turn it around, then as long as it is an accretive Precious Metals transaction then it’s worth grabbing. I’d just prefer to see them aligned with Silver to keep that leverage as the underlying metal still has so much room to run higher.

        I also like that (SVM) Silvercorp is going to make an easy $9 Million for Guyana breaking their agreement. Value creation for spotting the deal first.

        “Silvercorp says it expects to receive a C$9M termination fee if Guyana accepts the offer.”

        • On June 11, 2020 at 6:28 pm,
          OOTB Jerry says:

          Ex…..thanks for the comments…..I thought it was interesting, the games being played, must be getting ready for some real excitement……JMO

          • On June 11, 2020 at 7:02 pm,
            Excelsior says:

            As I stated a few weeks back, this 3-way bidding war has been good for the whole PM sector, and I’m surprised it hasn’t been part of more conversations. Everyone has been asking when we’d see this kind of action start up with M&A bidding wars, but then it comes and it barely gets any coverage.

            I’m just glad that Silvercorp didn’t triple down and overpay. There are plenty of other good deals in the sector and other miners that can be acquired on the cheap.

            Ever Upward!

          • On June 11, 2020 at 7:04 pm,
            Excelsior says:

            They now how $9 Million more to throw at the next deal from Guyana Goldfields breaking the contract, so as a (SVM) shareholder I consider that a win.

          • On June 11, 2020 at 7:09 pm,
            OOTB Jerry says:

            I agree…….surprising , it is barely getting any coverage….I am glad , I read the article, and it popped out , like…what is going on…..

          • On June 12, 2020 at 3:37 am,
            Excelsior says:

            Besides the $9 Million payment that (SVM) will receive from (GUY) for them to break their contract, it should also be noted that Silvercorp holds around 10% of the shares of Guyana Goldfields, and will still make out like bandits on the re-rating higher of these shares for this new “foreign-based multinational mining company” as they take over (GUY). So either way, (SVM) wins.

            This was summed up well over at ceo.ca by a contributor @Tony4ever:
            ___________________________________________

            @Tony4ever – “$SVM holds about 16.5 M shares of $GUY. After it decided to walk away, I do not know if it will hold the 16.5 M shares. If it does, I suppose it will vote for the bidding of C$1.85/share. Assuming the acquisition will be completed, $SVM will make at least US$12M capital gains.”

        • On June 12, 2020 at 4:44 am,
          Excelsior says:

          Zijin Mining to Acquire Guyana Goldfields Inc. in an All-Cash Offer for $323 million
          by @newswire on 12 Jun 2020

          Alan Pangbourne, President and CEO of Guyana Goldfields, stated:

          “The all-cash offer from Zijin represents a significant premium to the amended Silvercorp offer price and is an excellent outcome for Guyana Goldfield’s shareholders. Zijin is a highly regarded mining company with an impressive track record of successful international acquisitions and operations. We look forward to working with Zijin over the coming weeks to close this transaction and transition to the new team.”

          https://ceo.ca/@newswire/zijin-mining-to-acquire-guyana-goldfields-inc-in-an

  8. On June 11, 2020 at 5:02 pm,
    Dick Tracy says:

    Will the toes go back in the water tomorrow, one can indulge in all manner of dubious financial practices as long as prices in the stock market rise. I expect The Fed will have their drive through window open tomorrow to juice the markets. Interesting times for sure. DT

  9. On June 11, 2020 at 5:18 pm,
    cfs says:

    The Prez sez:

    https://www.youtube.com/watch?v=GjZVS2fibx0

    JUst more racial discrimination….
    More affirmative action.
    The squeaking wheel gets the most attention.

  10. On June 11, 2020 at 5:51 pm,
    Ebolan says:

    BOYS!

    The War of Northern Aggression is still claiming casualties…

    Just look at these dip sh*t fools…karma’s a bitch..ain’t it?

    https://www.zerohedge.com/political/activist-horribly-injured-when-confederate-statue-crushes-him-after-mob-rushes-pull-it

    • On June 11, 2020 at 5:56 pm,
      OOTB Jerry says:

      Sometimes, life bites you on the butt…….head butting not allowed by statue..next ban..lol

      • On June 11, 2020 at 6:18 pm,
        Ebolan says:

        Jerry, how’s it going in Rubioville…or you in Pensville??? I guess both are pretty hot and humid now.

  11. On June 11, 2020 at 6:06 pm,
    Dick Tracy says:

    Ex hasn’t been posting much these days, the boss must have read him the Riot Act. DT

    • On June 11, 2020 at 6:08 pm,
      OOTB Jerry says:

      Working for the boss, is no fun…..more fun to be the boss of one…..

      • On June 11, 2020 at 7:31 pm,
        John Kruschke says:

        So in 1871 Ulysses S Grant was president and the Ku Klux Klan Act was passed authorizing the President to impose martial law and suspend the writ of the habeas corpus.
        Interesting enough in Wikkipedia there was no mention of the act of 1871.

        • On June 11, 2020 at 7:36 pm,
          OOTB Jerry says:

          Here is a start……….I will get back to ya….
          http://www.federaljack.com/slavery-by-consent-the-united-states-corporation/

          • On June 11, 2020 at 7:39 pm,
            OOTB Jerry says:

            People also ask
            Who is the owner of Wikimedia Foundation?
            George Soros, founder of Open Society Foundations, invests in the future of free and open knowledge – Wikimedia Foundation.Oct 15, 2018

          • On June 11, 2020 at 7:41 pm,
            OOTB Jerry says:

            Wikipedia began with its first edit on 15 January 2001, two days after the domain was … Sanger suggested giving the new project its own name, Wikipedia, and … Wikipedia itself has grown, with the creation of the Wikimedia Foundation to act …

      • On June 11, 2020 at 7:45 pm,
        John Kruschke says:

        I got that Jerry. I was searching for the voting record of the Congress on the Act. You would have thought there would be something said when Googling Grant.
        I thought the KKK act was interesting with all the happenings with BLM people.
        Any how back to work.

        • On June 11, 2020 at 7:56 pm,
          OOTB Jerry says:

          Got ya….Interesting on the KKK

          • On June 12, 2020 at 7:11 am,
            OOTB Jerry says:

            John…….I left you some info……in the other section “Prejudice”

    • On June 11, 2020 at 7:05 pm,
      Excelsior says:

      Ha! I’ve just been busy this week, but not from the riots or getting read the riot act.

      Cheers!

      • On June 12, 2020 at 3:35 am,
        Excelsior says:

        Also, for the record, I am a boss of 1 at present. (although, my wife may disagree on who that boss is…. haha!)

  12. On June 11, 2020 at 7:08 pm,
    Excelsior says:

    Lithium – the metal of the future with a futures problem

    Andy Home – June 10, 2020

    “Money needs to start flowing into the lithium market quickly, or the road to electrification will be stunted by lithium supply, in even the most conservative of forecasts.”

    That warning from specialist consultancy Benchmark Minerals Intelligence (BMI) was written in July last year. (“Lithium’s Price Paradox”)

    https://uk.reuters.com/article/uk-metals-lithium-ahome/column-lithium-the-metal-of-the-future-with-a-futures-problem-idUKKBN23H2AT

  13. On June 11, 2020 at 7:21 pm,
    David says:

    Futures Market: General markets up…Gold down…and that would be because….crickets

  14. On June 12, 2020 at 3:32 am,
    Excelsior says:

    Gold To Benefit From Ongoing Fed Intervention

    By Gavin Wendt – June 12, 2020

    “The prophecies of doom and gloom that accompanied the mid-March COVID-19 crash have seemingly vanished. They have been vanquished by the Federal Reserve’s promise to do “whatever it takes” to support financial markets – all financial markets.”

    “What this means is that the Fed is now buyer of first resort, last resort and every other resort in-between. The “Fed put” that created a floor under stocks following the 2008/2009 recession has morphed into an “everything” put, creating floors under everything. As a result, money has surged back into equities, as investors see the Fed backing markets.”

    “Which brings us to gold. Although the pandemic-related monetary and fiscal packages have produced a remarkable sharemarket recovery, the real economy remains in a fragile state. The Fed has cautioned that it expects the economic damage from the pandemic to be long-lasting and profound. The Fed has also warned that as highly leveraged companies fail, it will amplify the economic downturn as companies lay off workers and cut investments.”

    “Gold has performed strongly so far during the COVID-19 epidemic. It has not only provided a hedge, it has outperformed all major US stock indexes. Even silver has performed better than the Dow and S&P 500. And it isn’t just stocks – gold has outperformed real estate, the US dollar, and even Treasuries. Through May of this year, gold had risen more than all major asset classes.”

    “Interestingly, silver is playing catch up to gold, which is giving silver bugs cause for optimism. It was not only the best performing major metal during the month of May, but it’s also seen extending gains on both its traditional haven status and as investors turn to riskier assets.”

    https://www.sharecafe.com.au/2020/06/12/gold-to-benefit-from-ongoing-fed-intervention/

    • On June 12, 2020 at 4:26 am,
      Excelsior says:

      Silver Tops Gold in May, Setting up a Summer Surge

      McAlinden Research for Streetwise Reports (6/10/20)

      “Silver and silver miners popped in May on the back of a rebound in industrial activity around the world. Ultra-low interest rates and expectations of a weaker dollar have compounded several political pressures that begun popping up at the end of the month. Though the gold to silver ratio has tightened a bit, it remains elevated and could indicate more upside for silver.”

      “Silver futures capped a gain of nearly 24% for the month of May, the largest monthly gain since 2011. ”

      https://www.streetwisereports.com/article/2020/06/10/silver-tops-gold-in-may-setting-up-a-summer-surge.html

      • On June 12, 2020 at 4:46 am,
        Temple says:

        Drum roll…that gold-silver ratio headed back up to 100+ … pass the Cheerios!

        • On June 12, 2020 at 4:50 am,
          Excelsior says:

          The G.S.R. may very well head back up over 100 Mr. T, and I’ll be buying more Silver Miners and maybe some Cheerios & Axel Grease just to keep all the bases covered. 🙂

          • On June 12, 2020 at 4:51 am,
            Excelsior says:

            Axel = Axle

            cheerio!

          • On June 12, 2020 at 4:59 am,
            Temple says:

            One of these days I’ll surprise everyone and be bullish on silver.

          • On June 12, 2020 at 5:04 am,
            Excelsior says:

            Yes, that will be a big surprise to see you get bullish on Silver Mr T. 😉

            Don’t wait too long, as the move from $12-$18 was quite a great trading opportunity, especially in the beleaguered silver mining stocks. Some of the easiest gains of the year in my trading account came out of raising and deploying all the dry powder I could in mid-March, and then trimming back some over the last few weeks.

            I’ll confess to adding to a few Silver positions yesterday when they sold off 10-14%, but am waiting to see if there may be more downside ahead before adding a final tranche in most of core positions.

            Ever upward!

          • On June 12, 2020 at 5:28 am,
            OOTB Jerry says:

            That will be the day……. !!……. 🙂
            To sell everything……… 🙂
            CT….crystal thinking…….

        • On June 12, 2020 at 6:25 am,
          Excelsior says:

          Good one OOTB! A contrarian indicator…. (lol)

          • On June 12, 2020 at 6:32 am,
            OOTB Jerry says:

            🙂

        • On June 12, 2020 at 9:40 pm,
          Matthew says:

          Silver is still up 28% versus gold since March and the silver-gold uptrend is far from threatened:
          https://stockcharts.com/h-sc/ui?s=%24SILVER%3A%24GOLD&p=D&yr=0&mn=9&dy=0&id=p30666012169&a=770101950

  15. On June 12, 2020 at 4:37 am,
    Excelsior says:

    LAWRIE WILLIAMS: The Powell ‘Game Changer’ For Gold And Silver

    11 Jun 2020

    “The Fed expects the U.S. economy to shrink by a similar 6.5% this year and the road to recovery to be an extended one. Some observers and economists see this as perhaps unduly optimistic, but even so such an economic reduction is almost unprecedented and supports the views taken by some mega investors who are staying out of the U.S. equities markets until they feel an end to the recession is in sight, which may not be for several months yet.”

    “Powell’s remarks did have a dampening effect on investment – the markets having been driven up by a vast amount of money, mostly from small investors. They at last seem to have begun to understand the dire position the U.S. economy is in currently – a similar position to other Western economies. Similar falls have been seen in Asian and European markets – they may yet have much further to fall once Q2 data starts to be released. In the U.S., the Dow and the S&P indexes both fell for the second day in a row, although conversely the tech-focused NASDAQ recorded another rise, although we suspect that this may also come back in the weeks and month ahead. The Nikkei in Japan lost most of its recent gains, as did the major European stock indexes. Gold and silver rose quite sharply and could well be set for further rises once the Fed’s worries about the economy are taken up and analysed by the mainstream media.”

    “Those who have the most to lose from a further uptick in gold and silver will undoubtedly fight a rearguard action to try and keep the gold price below $1,750 and silver below $18, but we think the FOMC deliberations, and the subsequent Powell statement will be enough of a game-changer to keep precious metals prices rising and precipitate some sharp falls in the global equities markets.”

    https://www.sharpspixley.com/articles/lawrie-williams-the-powell-39;game-changer39;-for-gold-and-silver_297584.html

  16. On June 12, 2020 at 4:58 am,
    Excelsior says:

    The Global Gold Market Is Breaking Up

    John Dizard – 06/11/2020 – The Financial Times

    “Dominance of traditional banks and families that were the previous masters is ending.”

    “There is increased interest in gold from institutional investors watching each other and needy of validation from the usual pension consultants. Prices, while off their 2020 highs, continue an upward trend.”

    “So why would there be deglobalisation of “physical” gold trading?”

    “Because the emerging leaders of the gold trading world are not the Anglo-Saxon bankers or the “Cousinhood” Jewish families who were the gold establishment of the past couple of centuries.”

    “These new leaders have different ethnic origins, and often focus on particular countries that we have condescended to call emerging markets.”

    “Take, for example, MKS Pamp, founded by Mahmoud Kassem Shakarchi, a northern Iraqi who got his commercial start as a sheep-trader in Istanbul.”

    “Pamp gold bars, often left in their original plastic wrappers, are the most recognised bits of bullion in India. MKS Pamp is the largest refiner and trader of small bars in the world.”

    “Or are you familiar with the Saigon Jewelry Company, or its SJC branded bullion? Everybody knows SJC’s products at the Vietnam-China border, where I understand much trade goes through informal networks.”

    “The SJC bars are mostly used in Vietnam, but they are even recognised by central banks. Gold is a major means of payment (especially) for the unofficial trading,” says Trung Khans Huynh, a Ho Chi Minh City gold expert.

    Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://www.ft.com/tour.
    https://www.ft.com/content/1e9fa739-2f95-4cfb-b481-0387e5f8b117

    “The Turkish government has enthusiastically embraced the gold trade in the past couple of decades. The Istanbul Gold Refinery, founded by the Halac family, serves the highly efficient national gold trade centred on the Borsa Istanbul. Even during the Covid-19 shutdowns, the Istanbul jewellery shops remained open as an essential trade.”

    https://www.ft.com/content/1e9fa739-2f95-4cfb-b481-0387e5f8b117

  17. On June 12, 2020 at 4:59 am,
    Excelsior says:

    The Global Gold Market Is Breaking Up

    John Dizard – 06/11/2020 – The Financial Times

    “Dominance of traditional banks and families that were the previous masters is ending.”

    “There is increased interest in gold from institutional investors watching each other and needy of validation from the usual pension consultants. Prices, while off their 2020 highs, continue an upward trend.”

    “So why would there be deglobalisation of “physical” gold trading?”

    “Because the emerging leaders of the gold trading world are not the Anglo-Saxon bankers or the “Cousinhood” Jewish families who were the gold establishment of the past couple of centuries.”

    “These new leaders have different ethnic origins, and often focus on particular countries that we have condescended to call emerging markets.”

    “Take, for example, MKS Pamp, founded by Mahmoud Kassem Shakarchi, a northern Iraqi who got his commercial start as a sheep-trader in Istanbul.”

    “Pamp gold bars, often left in their original plastic wrappers, are the most recognised bits of bullion in India. MKS Pamp is the largest refiner and trader of small bars in the world.”

    “Or are you familiar with the Saigon Jewelry Company, or its SJC branded bullion? Everybody knows SJC’s products at the Vietnam-China border, where I understand much trade goes through informal networks.”

    “The SJC bars are mostly used in Vietnam, but they are even recognised by central banks. Gold is a major means of payment (especially) for the unofficial trading,” says Trung Khans Huynh, a Ho Chi Minh City gold expert.

    “The Turkish government has enthusiastically embraced the gold trade in the past couple of decades. The Istanbul Gold Refinery, founded by the Halac family, serves the highly efficient national gold trade centred on the Borsa Istanbul. Even during the Covid-19 shutdowns, the Istanbul jewellery shops remained open as an essential trade.”

    https://www.ft.com/content/1e9fa739-2f95-4cfb-b481-0387e5f8b117

  18. On June 12, 2020 at 6:16 am,
    Excelsior says:

    One For The Ages

    Jun. 11, 2020 – Jesse Felder

    “The stock market has set many records this year. After putting in the fastest 10% decline from a new high, it then put in the fastest 20% and 30% declines.”

    “An unprecedented boom in money printing for the explicit purpose of supporting asset prices is certainly part of the reason for the recovery but it is also important to note what that money printing has inspired: an unprecedented boom in financial market speculation by retail traders.”

    “Combine massive money printing with mass speculation and record low liquidity (in futures and almost every other market) and you get the fastest 50-day rise in the stock market on record.”

    “One trend I’ve been following for a while now is the growing participation in the financial markets on the part of young individuals. Since most brokers went commission-free, following in Robinhood’s footsteps, the interest in trading has gone through the roof. This week feels like the narrative is reaching a crescendo.”

    https://seekingalpha.com/article/4353375-one-for-ages

  19. On June 12, 2020 at 6:21 am,
    cfs says:
  20. On June 12, 2020 at 7:26 am,
    Ebolan says:
    • On June 12, 2020 at 7:57 am,
      John Kruschke says:

      I watched about half of the video Eddie and the insanity was explained.
      Much like when I posted to Ex that there was more to this than people protesting the death of a Black man in the custody of Police, George Floyd was the trigger that ignited a larger Social problem that has been building in the U.S for some time now.
      Once the American Public could see the B.S behind the war on terror the Military Industrial Complex was left with no choice except to abandon the Narrative and come up with a new one.
      Consequently Military hardware destined for the war on terror was no longer needed and was distributed to the Police Forces of the U.S.
      Your first clue that something was amiss should have been when the Administration was sending Policeman to Israel for training.

      • On June 12, 2020 at 8:12 am,
        Ebolan says:

        But none of the people in that video…except maybe the guy doing the interviews but probably not…have a clue as to what the Israeliars and the neo-cons, other Zionists, etc. are doing.

        As always, the masses are completely clueless…and our rulers will make sure it stays that way.

        • On June 12, 2020 at 8:27 am,
          John Kruschke says:

          I’ll take the other side of that Eddie and agree that for the most part most are clueless, but not all.
          The collective consciousness of the Public in my opinion can sense that something is not right. They cannot explain it but they can feel it.
          Take for instance during the Obama administration when they extended the unemployment benefits.
          And now they are giving an extra $600.00 a week to those that have lost their jobs.
          People that are still going to work are saying W T F ?
          I will say also that most people have come to the conclusion that the National debt cannot ever be repaid. This is a sad fact and those that continue to deny this need to take another trip to Disneyland.

          • On June 12, 2020 at 8:29 am,
            John Kruschke says:

            Just make sure that if you go on Christmas Day, get there before noon or else the Park will already be full and you wont get in.

        • On June 12, 2020 at 8:34 am,
          OOTB Jerry says:

          I am going with EBO……on they are clueless…….
          They know something is wrong,….but, can not explain it……that is clueless 🙂
          The DEBT…..is going to be paid, but, by who…….it, will be paid in higher inflation.
          Your kids, grandkids……are going to pay……Housing cost , utilities, real estate taxes, auto insurance, house insurance, medical cost , education cost ($40,000 a year…lol)

          • On June 12, 2020 at 8:36 am,
            OOTB Jerry says:

            John…….that does not mean, you are not surrounded by people , who are not clueless, but, the majority of people are clueless……….JMO

          • On June 12, 2020 at 8:39 am,
            OOTB Jerry says:

            Clueless and stupid are different…….the system keeps people clueless…..
            But, we do have our fair share of stupid, uninformed …deceived…..

          • On June 12, 2020 at 8:53 am,
            John Kruschke says:

            Jerry:
            Jubilee!

          • On June 12, 2020 at 9:00 am,
            OOTB Jerry says:

            John…….
            Old Testament……..Jubilee……..Yes, a jubilee should be called, but,will not.
            Why ,,because most think bankruptcy/jubilee is a bad thing…….lol
            The US……has never been out of Bankruptcy since, 1871,
            War debts of the civil war were never paid…..therefore, the take over of everything, and you are the slave child via your birth certificate, a claim to the banksters….lol

          • On June 12, 2020 at 9:05 am,
            John Kruschke says:

            I’m learning that Jerry.
            1871 has taken me down another path less traveled.
            FYI The Page you posted yesterday has already been taken down, but I found it somewhere else.

          • On June 12, 2020 at 9:13 am,
            OOTB Jerry says:

            John…….I posted some web sites…..back at PREJUDICE….

          • On June 12, 2020 at 10:37 am,
            Ebolan says:

            John, Jerry…don’t worry…we got Dr. Frieda’s inspiration! 🙂

          • On June 12, 2020 at 10:46 am,
            b says:

            A good laff Ebolan. That was funny as heck.

  21. On June 12, 2020 at 7:48 am,
    Ebolan says:
  22. On June 12, 2020 at 8:30 am,
    cfs says:

    A perfect example of a public employee at a level Way, WAY above her competence……Mayor of Seattle.

    https://www.newsmax.com/politics/seattle-chaz-jenny-durkan-donald-trump/2020/06/12/id/971840/

  23. On June 12, 2020 at 8:37 am,
    cfs says:

    So is the mator or the police chief a liar ?

    https://www.foxnews.com/us/seattle-police-chief-leaving-precinct

    • On June 12, 2020 at 2:39 pm,
      Ebolan says:

      What is a mator?

      • On June 12, 2020 at 2:50 pm,
        Ebolan says:

        Dang iPad! 🙂

  24. On June 12, 2020 at 9:47 am,
    cfs says:

    This ought to be shown in all U.S. Schools

    https://youtu.be/CNhsHw7ieZY?t=92

  25. On June 12, 2020 at 2:41 pm,
    Ebolan says:

    Bolton’s book…will lead to new calls for impeachment.

    What the hell was Trump thinking when he brought on Bolton?

    • On June 12, 2020 at 5:15 pm,
      Big Al says:

      I have absolutely no idea what he was thinking at that time, Eddy!

      • On June 12, 2020 at 7:27 pm,
        Ebolan says:

        Bolton went in figuring if he didn’t get his way he’d ruin Trump.

        Bolton was a real snake in the grass…and that’s an insult to snakes!