Jim’s Mailbox

Posted at 1:38 PM (CST) by & filed under Jim's Mailbox.

Jim/Bill,

This period, the era of global interdependence under the guise of capitalism, will go down in books as the greatest heist in history! Allow me to explain.

Anybody who believes the actions of Central Banks are for the good of the people, needs their head examined.

This is all being done to support the banking community’s balance sheets and profitability.

Case in point……

With interest rates in the U. S. near zero and actually negative across the board in Europe, does anyone see mortgage rates dropping to around 1%? Or credit card interest dropping from the current 15-24% rate? Or home equity rates dropping from the current 6-7%?

Fat chance.

And to boot, now people have to PAY banks to store their money!

That tells you everything.

Now we can look forward to weaker currencies because of lower rates and more importantly, weaker economic growth, possibly leading to massive global recession.

The exorbitant rates being charged by the banks will do nothing to alleviate the financial pressure people are under. Housing will not recuperate, spending will continue to decline, debt will continue its exponential rise.

How could this not happen under these conditions?

Unless there is a trickle down effect from the banks to the populace, nothing will change. Of course, can you blame the banks for not wanting to prevent margin expansion?

Just remember, its all coming out of our pockets.   One day, history will note that this period will mark the greatest robbery of the American public in the history of mankind.

Now all your need is hyperinflation so the 1%, after they have picked our pockets of every last dollar, can pick up assets for fractions of a penny on the dollar. It won’t be long now.

Know the meaning of wealth preservation.

It’s spelled G-O-L-D.

Google it before it’s too late.

CIGA Wolfgang Rech

Entire German Curve Drops Below Zero For First Time Ever
August 2, 2019

Somewhere, Albert Edwards is dancing a jig as the ice age he predicted will grip the world, appears to finally be here.

While global equities are sharply lower today following the end of the US-China trade ceasefire, it’s nothing compared to what is going on in the bond market, where one day after the 10Y US Treasury plunged a whopping 6% to 1.832% – the biggest one day drop since Brexit – to the lowest since the Trump election…

 

 

 

 

 

 

 

 

 

 

 

 

 

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