Posts Categorized: USAWatchdog.com

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By Greg Hunter’s USAWatchdog.com (Early Sunday Release)

Money printing by the Fed and Congress is off the charts. The Federal Reserve doubled its balance sheet in a matter of months, and Congress is pumping out trillions of dollars in spending bills to fight the economic crisis caused by the Covid 19 lockdown. The really scary thing is not the massive money printing, but the fact that absolutely nobody seems to care about the risk to the U.S. dollar. Money manager Peter Schiff thinks he knows why, and explains, “(Back in 2008-2009,) even Larry Kudlow was worried about what the Fed was doing, but nobody is worried about it now.  The reason is they have been lulled into this false sense of complacency in that we got away with it the last time . . . and there was no negative consequence. We didn’t have runaway inflation and did not have loss of confidence in the dollar. So, there was no price to be paid. . . . Since we got away with it before, they think they will get away with it again, and I think they are completely wrong. . . .All we did was inflate a bigger bubble, but now this bubble has popped, and it found the mother of all pins in the Coronavirus that put a gaping hole in it, so the air is coming out much faster. Now, they are trying to reflate this thing. We are going to suffer the consequences, not only what we are doing now, but what we did back then. . . . When is all this inflation going to move out of the stock market and into the supermarket? I am surprised this has not already happened, but I do think we are at the end of the line. . . . Here’s what is going on. We are going to have this massive inflation tax. We are seeing price increases at the supermarkets.”

What has to break is the U.S. dollar, and that’s coming, according to Schiff, “We are going to overwhelm with dollar supply. We are printing all this money. The Fed is buying all these bonds. . . . This is it. The Fed is going all in on QE. There is no limit. They are printing all this money, and, so, ultimately, the dollar is going to tank. It hasn’t happened yet, but it will. That’s when the party really ends. That’s when there is massive pressure on consumer prices. That’s when there is massive (upward) pressure on interest rates. . . . This could be an inflationary depression. We could have hyper-inflation. We didn’t have anything like that in the Great Depression. During the 1930’s, prices went down, and people got some relief with lower prices. That made the downturn not as bad. Imagine high unemployment with the cost of living skyrocketing. That’s what we are heading for. It’s going to be the 1970’s only on steroids because it’s going to be a much deeper economic contraction with a much bigger increase in consumer prices.”

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By Greg Hunter’s USAWatchdog.com

With every new revelation about what President Trump calls “Obamagate,” you see the curtain being torn down and revealing the corrupt players who were running America and attacking our Republic. Former CIA Officer and counter-terrorism expert Kevin Shipp, who wrote a book about the Deep State called “From the Company of Shadows,” says any hint that POTUS is a tool of the Deep State is preposterous. Shipp explains, “That is absolutely ridiculous. Donald Trump has confronted the Shadow Government and Deep State more than any other president in history, and that includes JFK. JFK did, of course, confront the Deep State and we saw what happened there. There has been no other president that has had the guts to expose the Shadow Government and Deep State like Donald Trump has. What has the Deep State done? They have gone after him with a vengeance. Why would the Deep State attack their own with attacks to try to destroy him and his family if he wasn’t threatening to expose the Deep State? No, he’s not a Deep State president. He’s not perfect. We all know that. There are members of his cabinet that we are concerned about with connections to some of the central banks. We all know that, but Donald Trump is not Deep State. He is splitting the Deep State wide open. Look what DNI Rick Grenell just presented to the President. He authorized for release of names of all the unmaskers. Trump is exposing the Deep State, and, personally, I am proud of him because I have been waiting for this for 20 years for a president to come out and expose these things.”

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By Greg Hunter’s USAWatchdog.com

Former CIA Officer and counter-terrorism expert Kevin Shipp says America is facing big internal and external foes. One of the biggest external enemies is China, who has taken a huge economic hit over the virus it released globally. Shipp contends, “Trump is finally confronting them (China) with tariffs, so they are hurting there. They are heading for a recession. Huawei is no longer going to be in the United States. That’s a loss of huge revenue. So, my concern is this: China is going to have to escalate to defend itself. In history, we have seen a lot of wars that have been started during an economic crisis where two nations are fighting and there is some sort of economic devastation. That’s where China is right now. I think what is going to happen is China is going to escalate, and we are already seeing that in the South China Sea. They sunk a South Vietnamese fishing boat, and they are rattling their sabers about their own ships in the South China Sea. . . .China is going to escalate using proxies, and then they are going to start saber rattling militarily against the United States. This is NOT good. . . .They are going to have to escalate not just to save their economy, but to also to try to save their position in the world.”

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By Greg Hunter’s USAWatchdog.com (Early Sunday Release)

Renowned radio host, filmmaker and book author Steve Quayle says everything from cataclysms to Covid 19 is all part of the “Last Days” talked about in the Bible. Quayle says, “We are going through what I would call ‘quantum transformation’ that is taking place in the heavenly realm, on earth and under the ocean. We are in a period that is very clearly spoken of in the Bible as the ‘End of the Age.’ When it comes to the United States, I coined a phase, and it is ‘rape, pillage and plunder, the USA is torn asunder.’ What we are seeing is the absolute attack on everything that made America great starting with the separation of Our Lord Jesus Christ in the churches. The churches have rolled over and are seeker friendly. Now, people are without anchors to their souls. They are coming apart at the seams.”

Quayle says the Wuhan Coronavirus is no accident and explains, “Here’s the bottom line, and I pray people get this. There was an intentional bio attack on the United States. . . . It’s totally designed to destroy the country. I don’t think this can turn around and come back. You’ve got too many people out of work. . . . People have to understand this. You cannot say to someone you cannot feed yourself. You cannot go to work. We are going to come in and inject you with a poison. I say vaccine, shot in the arm, shot in the head, either way they want you dead. . . . They’ve got to know, and they do know exactly what they are doing. . . .The seeds of the communist infiltration in America now are coming to fruition. These people have yielded to bribery. It’s obvious, and some people say that’s really extreme. Are you kidding me? Extreme? There are five mile long lines on the highway with people waiting for handouts or waiting for their $1,200 checks. We are going into the worst financial situation the world has ever seen. We are going to have a deflationary depression, but they are going to print money like there is no tomorrow. They say that can’t happen. Oh, yeah? Look at oil. It went down to -$40 per barrel. That’s negative, and some people say oil could go down to a -$100 per barrel. . . . Here’s my bottom line. There are no markets anymore for true price discovery, only manipulations.”

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By Greg Hunter’s USAWatchdog.com

Journalist Alex Newman says the virus crisis has exposed the financial debacle of the $5 trillion shortfall in state and local pensions. Senate Majority Leader Mitch McConnell says “states should file bankruptcy.” President Trump says a “federal bailout would not be fair.” Treasury Secretary Mnuchin says states are “not going to be bailed out.” As unemployment soars by the millions and taxes implode, pensions are running out of money to pay lavish benefits promised to public workers. Newman contends, “It’s unsustainable, it’s a rip-off, it’s a scam. These people are being used and manipulated, too. The reason Democrat politicians agree to these things is not because they love police and firefighters, it’s because they want the votes from big labor. It’s a really nasty political machine, and I was happy for Senator McConnell to talk about this. What you have here is huge government employee unions run by communist, radical leftists, Deep State operatives that suck up all this money . . . and then they recycle that money back into the campaign coffers of Democrat politicians. . . . Then they say, oh sure, we will give you a bigger pension, and, sure, we will give you more benefits, and it’s a vicious cycle. . . . They have been creating this massive Ponzi scheme, and now they are saying coronavirus caused this, and now we need a federal bailout. Sorry, it’s not going to work. . . .A lot of these issues are now getting exposed. This is the first time in years that we are having a national discussion about this tsunami that’s about to swallow up our economy.”

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By Greg Hunter’s USAWatchdog.com (Early Sunday Release)

Financial writer and professional trader Rick Ackerman says the economy is tanking, and there is no way to avoid an economic depression. Ackerman explains, “It’s going to be an interesting depression because we have all the infrastructure of affluence. We have achieved a pinnacle of affluence, and the metaphor I use is riding to the soup kitchen on an $8,000 trail bike. . . . I hope we find things that make life worth going on without all the stuff. So, we are going to be in a period of living without all the good stuff, and that is going to be the norm. There is also a really hopeful side to economic distress, but we are most surely headed into a period of severe distress . . . and a period of living without. We will find we are not living without things that are intrinsic to human nature that are good. . . .We going to have to find ways to get along because we are headed into hard times.”

A few years ago, Ackerman predicted that the trend for interest rates was down. The 10 year Treasury is now near a record low. Does Ackerman see rates going even lower? Ackerman says, “Yes, I see lower rates. I think we will have lower rates until, at some point in the future, people will start sniffing out a hyperinflation. You know I have been a deflationist for a lot of years. I think we will have to cross the valley of deflation, but somewhere there is a hyperinflation. It won’t take high interest rates to do it because we will be dealing with a real burden of debt that is going to be crushing no matter where interest rates are even if they are fixed at 2%.” Ackerman sees the 10-year Treasury hitting “.25%.”

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By Greg Hunter’s USAWatchdog.com

Legendary financial and geopolitical cycle analyst Martin Armstrong says shutting down the economy is far worse that the effects of the Wuhan China virus. Armstrong says, “This is just scare mongering, and there is another agenda going on. The WHO is part of the UN, and the UN is for this climate change, and this is what their objective has been: Shut down the world economy, bankrupt everything you possibly can, and then rebuild from scratch. . . . The devastation in the economy is unbelievable. Our computer is very well known. Just about all the intelligence agencies look at it because it’s the only fully functioning artificial intelligence system in the world. It was saying unemployment was going to rise dramatically and retest the Great Depression highs. . . .That’s never happened like that. Even in the Great Depression, it took three years to get to 25%. We passed 13% in the first month. . . . From the very beginning, I said something is not right. Something is wrong. . . . This is really going to push the debt bubble over the cliff. . . . The number that has died is minimal. More than twice that die from the flu. There is no logical explanation to have done this. The study they used was not even peer reviewed.”

So, if Armstrong were face to face with President Trump, what would he tell him? Armstrong says, “What he needs to do is open up the economy instantaneously. I think he needs to appoint a special prosecutor to investigate who started this. All the information I have is pointing to a deliberate and intentional movement to harm the economy. These people are elitists. Bill Gates was in Germany saying everybody should remain in lockdown until he comes up with a vaccine. . . . I put out a forecast a few weeks ago and said after week four, we will start seeing protests, and after week six, it will turn to violence. We hit week four and we got protests already all around the country. . . . Facebook is acting like Stalin. Anybody comes out and says let’s get together and exercise our First Amendment rights, they are removing it.”

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By Greg Hunter’s USAWatchdog.com (Early Sunday Release)

Money manager and economist Michael Pento says the Federal Reserve has only massive money printing left to try to save the economy from the current and ongoing debt implosion. There is going to be lots of fresh cash needed. Pento runs down a list of just few of the things the Fed will need to spend money on and says, “We all should know more than 22 million people have lost their jobs in the last four weeks alone. That’s 22 million people, and the unemployment rate, according to me, is heading up to 15% to 17%. That, my friends, is a depression. We also have the Philly Fed (Manufacturing Index rating) come out with a -56.6. That’s a minus 56.6. That’s the worst ever. Empire State Manufacturing -78.2, which is the worst rating ever. Retail sales plunged in March 8.7%. That is also the worst reading ever. That’s the worst plunge ever, and that’s just March. In my opinion, it will be something worse in April because all of the month will be completely shut down. That’s 90% to 95% of the economy.”

Now you know why the Fed freaked out and started printing money at the highest pace ever. Pento predicts the Fed, who took $4.5 trillion onto its balance sheet as a result of the “Great Recession,” will explode “The Federal Reserve’s balance sheet to $10 trillion by end of the year.”

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