In The News Today

Posted at 9:05 AM (CST) by & filed under In The News.

Bill Holter’s Commentary

Uhm, does the word “reset” ring a bell? They are getting you ready for reset #1. This one will not hold, Mother Nature will have her way during the second one.

Global ‘Jubilee’ Looms As G20 Finalizes Debt Relief Program For World’s Poorest Countries
April 12, 2020

Hours after Pope Francis on Easter Sunday morning said the debt burden on the most impoverished countries should be forgiven (aka debt jubilee), the Financial Times is now reporting that the G20 group is nearing a critical “action plan” to freeze debt servicing payments for poor countries to stave off an emerging-market meltdown.

The new relief program could be finalized on April 15 on a videoconference of finance ministers and central bank governors. The plan would “freeze on sovereign debt repayments for six or nine months, or possibly through to 2021,” the official told the Times.

The official said developed countries and multilateral institutions would use this period to write up “very clear criteria, country-by-country of what exactly is going to happen. Is it debt relief totally? Is it just a deferment, a rescheduling?”

“For debt relief to happen, it would take time for it to be co-ordinated,” the official said.

“But what is immediately needed is to give these people space so they don’t need to worry about the cash flow and debt servicing going to other countries, and they can use that money for their immediate needs,” the official said, who did not want to be named due to the sensitivity of the discussions.

Last week, the British-based Jubilee Debt Campaign called for a worldwide debt jubilee to avoid some of the world’s poorest countries from collapsing into chaos amid the COVID-19 crisis.


Bill Holter’s Commentary

Food glut? Has anyone tried to purchase a deep freezer lately? Good luck with that…and meat of ALL sorts to follow. Have you watched the news and connected the dots? Please don’t mention this to the kids because they will tell you, you are effin’ nuts! You are not. If you cannot buy toilet paper the logical question is, what’s next?

Farmers Battered By Food Glut As COVID-19 Shifts How America Eats
April 11, 2020

The trade war has battered US farmers over the last several years only now to be sucker-punched by COVID-19, which has transformed how Americans eat, resulting in massive food gluts across the country, reports The Wall Street Journal.

With at least 95% of Americans under government-enforced stay-at-home public safety orders, restaurants have been forced to close. Only a few are providing curbside pickup, but even then, many Americans do not trust other people preparing their food.

We’ve been documenting the state of the restaurant industry, on a state by state basis, now showing traffic is down 100% in nearly every state for the first seven days of April.


Bill Holter’s Commentary

So let me get this right, 40% of global silver production is shut down at the same time silver supply for sale has been swept clean by exploding demand worldwide? Yet silver (paper) is down 25 cents this morning? LOL!!! The day is near, you either own physical gold and silver or you do not…and will not in the future!

PERU EXTENDS LOCK-DOWN ALONG WITH MEXICO: An Estimated 40% Of Global Silver Mine Supply Now Offline
April 10, 2020

Now that the Peruvian Government announced an extension of the country’s state of emergency until April 26th, the world’s first and second-largest silver producers have taken 40% of global silver mine supply offline for a month. Actually, Peru first announced its national quarantine on March 15th. So, the country’s mines will be shut down for more than a month when the state of emergency is projected to end on April 26th. But, will it?

According to the Reuters article, Peru’s Vizcarra extends state of emergency to April 26th; the country will remain on lockdown for an additional two weeks: