Posted at 11:08 AM (CST) by & filed under In The News.

Bill Holter’s Commentary

Remember this, if the Fed can “give” you money, what stops them from taking it…and all the rest of your funds away?

In Unprecedented Monetary Overhaul, The Fed Is Preparing To Deposit “Digital Dollars” Directly To “Each American”
September 23, 2020

Over the past decade, the one common theme despite the political upheaval and growing social and geopolitical instability, was that the market would keep marching higher and the Fed would continue injecting liquidity into the system. The second common theme is that despite sparking unprecedented asset price inflation, prices as measured across the broader economy – using the flawed CPI metric and certainly stagnant worker wages – would remain subdued (as a reminder, the Fed is desperate to ignite broad inflation as that is the only way the countless trillions of excess debt can be eliminated and has so far failed to do so).

asset price inflation

The Fed’s failure to reach its inflation target – which prompted the US central bank to radically overhaul its monetary dogma last month and unveil Flexible Average Inflation Targeting (or FAIT) whereby the Fed will allow inflation to run hot without hiking rates – has sparked broad criticism from the economic establishment, even though as we showed in June, deflation is now a direct function of the Fed’s unconventional monetary policies as the lower yields slide, the lower the propensity to spend. In other words, the harder the Fed fights to stimulate inflation, the more deflation and more saving it spurs as a result (incidentally this is not the first time this “discovery” was made, in December we wrote “One Bank Makes A Stunning Discovery – The Fed’s Rate Cuts Are Now Deflationary”).


Posted at 11:04 AM (CST) by & filed under

By Greg Hunter’s

Renowned radio host, filmmaker and book author Steve Quayle predicts, “The next six months will be the most perilous in the history of America. . . . It’s not a prediction, you are seeing it right now.  Three years ago at my ‘True Legends’ conference, I said from this conference date on, the word ‘normal’ will never be used again.  I also said every expectation that you have known as normal in the coming months and years will change forever.  There is no going back to normal.  It doesn’t exist.  Most people don’t even know what has changed, but when you can’t eat, you don’t have a job, you have to depend on $600 per week from the government, the restaurants you used to eat at are closed and 166,000 business closed, I say ladies and gentlemen, this is the most important time.”


Posted at 4:48 PM (CST) by & filed under In The News.

Bill Holter’s Commentary

Where have you heard this before? Really? CBO projects the next 30 years? Rose colored glasses much?

“Finally, here is the most terrifying chart in the latest CBO forecast – and of all CBO forecasts released yet – which as hinted in the title, is the one which projects US debt for the next 30 years, and shows that over the next three decades nothing short of hyperinflation, or war, can save the US.”


Budget Office Releases Terrifying Long-Term Debt Forecast
September 22, 2020

Back in January, when the CBO presented its latest long-term debt forecast, we – and Albert Edwards – said that this was nothing short of a “ticking timebomb”, one which convinced Albert Edwards shortly after that helicopter money was on its way. Just over a month later, this prediction came true when the Fed unleashed unlimited QE with the explicit intention of monetizing all near-term Treasury issuance in collaboration with the Treasury. The reason: the US economy was about to incur $3 trillion in debt to fund the biggest fiscal stimulus in US history, and much more to come after now that Magic Money Tree has been unleashed on the US with wide segments of the population now expecting Universal Basic Income for the foreseeable future.

Unfortunately, this also meant that the CBO’s already catastrophic long-term debt forecast had become woefully outdated, which is why we were looking forward to today’s latest Long-Term Budget Outlook report from the CBO.

It did not disappoint: as the CBO openly admits, now that the US has fully embraced helicopter money, “deficits grow from an average of 4.8 percent of GDP from 2010 to 2019 to an average of 10.9 percent from 2041 to 2050, driving up debt. Net spending for interest rises rapidly and accounts for much of the growth in total deficits in the last two decades of the projection period.”


Bill Holter’s Commentary

Who needs hotels anyway, right? Wonder what the bullish spin will be on this tidbit of news?

Without Aid, 74 Percent of U.S. Hotels Expect to Lay Off More Employees
September 21, 2020

Seven months after the Covid-19 pandemic struck the United States, the hospitality industry is still reeling and the need for federal relief is growing dire. New research from the American Hotel and Lodging Association shows 68 percent of hotels have less than half of their normal staff working full time. In addition, more than two-thirds of hotels said they would not be able to last six more months at the current projected revenue and occupancy levels, and half of the hospitality owners polled said they are in danger of foreclosure. Without government assistance, 74 percent of hotels said they would be forced to lay off more employees.

Another study released by the AHLA last month found that unemployment within the hospitality and leisure sector is at 38 percent, nearly four times that of the national average (10.2 percent). In an effort to the save industry, the organization is calling on lawmakers to swiftly pass additional Covid-19 relief.

“It’s time for Congress to put politics aside and prioritize the many businesses and employees in the hardest-hit industries. Hotels are cornerstones of the communities they serve, building strong local economies and supporting millions of jobs,” said Chip Rogers, president and CEO of the AHLA. “Every member of Congress needs to hear from us about the urgent need for additional support, so that we can keep our doors open and bring back our employees.”

According to the AHLA, urban hotels have been hit especially hard and are seeing occupancy rates around 38 percent. Research from hospitality-data provider STR shows the average occupancy rate for all U.S. hotels in August was 48.6 percent, up slightly from 47 percent in July. This marked the lowest occupancy rate for any August on record (STR was founded in 1985), and the company expects U.S. hotel demand will not fully recover until 2023.


Posted at 1:11 PM (CST) by & filed under Jim's Mailbox.

CIGA Tom sends us a recent public service announcement…
In case they don’t know it already:



Do you think stories like this do not make front page head lines because they do not want us to know the truth?


3-Count Felon, JPMorgan Chase, Caught Laundering More Dirty Money
September 21, 2020

The International Consortium of Investigative Journalists (ICIJ) has once again managed to do what federal bank regulators refuse to do in the United States – come clean with the American people about our dirty Wall Street banks.

ICIJ dropped a bombshell investigative report yesterday about money laundering for criminals at some of the biggest banks on Wall Street, but you won’t find a peep about it on the front page of today’s Wall Street Journal or New York Times’ print editions. In fact, the New York Times, as of 6:44 a.m. this morning, hasn’t reported the story at all. The Wall Street Journal carries an innocuous headline, “HSBC Stock Hits 25-Year Low,” putting the focus on the British bank, HSBC, when its focus should be on the largest bank in the U.S., JPMorgan Chase, a serial felon.

JPMorgan Chase has already pleaded guilty to three criminal felony counts brought by the U.S. Department of Justice since 2014. Two of those counts related to money laundering and failure to file suspicious activity reports on the business bank account it held for Bernie Madoff for decades. JPMorgan Chase actually told U.K. regulators that it suspected Madoff was running a Ponzi scheme but it failed to share those concerns with U.S. regulators, even though it was required under law to do so.


Posted at 1:04 PM (CST) by & filed under General Editorial.

Quote from Eddie George, Governor Bank of England in 1999, when BoE dropped 400 tones of Gold, 50% of the BoE’s gold on the market:

“We looked into the abyss if the gold price rose further. A further rise would have taken down one or several trading houses, which might have taken down all the rest in their wake. Therefore at any price, at any cost, the central banks had to quell the gold price, manage it. It was very difficult to get the gold price under control but we have now succeeded. The US Fed was very active in getting the gold price down. So was the U.K.”

Posted at 9:16 AM (CST) by & filed under General Editorial.

Great and Wonderful First Day of Fall Folks,

      Gold is still in the playoffs after yesterday’s central bankers temper tantrum with the December contract now at $1,912.10, up $1.50 after hitting a high of $1,925.50, which happened much earlier last night with the low during London’s time at $1,898.90. The Red Headed step child – Silver – took the bigger beating, and is now trading at $24.455, up 6.8 cents after a high of $25.30 was reached with the low at $23.91. The US Dollar, no matter how much gets printed, is absorbed into the system somehow, with its value pegged at 93.555, down 12.9 points and close to the low of 93.50 with the high way up there at 93.93. Of course, all this happened before 5am pst, the Comex open, the London close, the last moments of Summer (officially ends at 6:30am pst), and after Nancy, once again, makes famous “Q and the Anons”, by attacking one of their own socialist supporting platforms of truth – facebook – by saying how can they ‘look themselves in the mirror’? The Anon’s say; “with the help of a hairdresser”, Simple logic answers the question(s).

      The emerging markets currencies are all interlinked directly into the primary currencies, woven into the fabric and completely anti-precious metals (until the breaking point is reached), with Gold in Venezuelan now priced at 19,097.10 Bolivar, giving the buyer a 255.68 discount from yesterday’s quote with Silver’s value reduced by 19.626 with the last price at 244.244 Bolivar. Argentinians are now able to acquire Gold at 144,377.39 A-Peso’s, giving today’s buyers a 1,533.11 discount, which is less than yesterday’s pull with Silver buyers getting a 142.68 A-Peso discount from Monday with the last price at 1,846.80, more than doubling yesterday’s drop. Gold’s price under the Turkish Lira is now valued at 14,617.35, with its cost reduced by 128.55 with Silver’s last price at 186.913 T-Lira taking back 14.152.

      Silver’s Delivery Demands now shows a count of 622 fully paid for contracts waiting for receipts, and with a Volume of 34 already up on the board with a trading range between $24.57 and $24.16 with the last buy at $24.275, down 2.4 cents from yesterday’s Comex Close. Friday/Monday’s delivery count was not reduced until way after the Comex close, and before the ICE end, where the “deciders” adjusted the count down to 634 contracts waiting for receipts, reducing Friday’s count by 274 contracts that may have gotten receipts here, London, or are still waiting. Now, we see a reduction of 12 contracts from that adjustment, that may have gotten receipts with yesterday’s full day of trade happening in between $26.30 and $24.075 with the last buy at $24.46 with that calculated Comex close at $24.299, down $2.729. Also, of note was yesterday’s Volume totaling 148 new buy orders which took away another 740,000 ounces in either physicals or receipts. Silver’s Overall Open Interest, the numbers behind the price, shows a reduction of 4,176 paper contracts that go against the physicals bringing today’s starting total to 159,117 Overnighters. The Open Interest numbers are getting down to the point where the biggest rises have occurred in the past. What will happen this time when the paper count gets below 130,000 contracts, that go against the physicals, when the physicals are that much harder to find? Reminder; how many more smelters does it take to keep Comex/LBMA physicals liquid?

      September Gold’s Delivery Demands now has a total of 72 fully paid for contracts waiting for receipts with a Volume of 1 and a single price “trading range” at $1,913.10, a gain of $11.90, so far today. The Comex deciders also made an adjustment in the demand count by raising the physical requests by 5 contracts bringing the new total to 93, and in between the Comex and the ICE close. Yesterday’s price range inside the deliveries happened in between $1,946.20 and $1,883.40 with the CCC at $1,901.20 reducing the value by $50.90 with a Volume of 52 contracts swapping hands. Yesterday’s volatility caused 1,812 short contracts to exit the trade leaving a total of 575,087 Overnighters to go against the buyers of physicals.

      The shorts may have brought the prices down, but all they’re doing is helping the buyers out, now more than ever, as more and more people see what the Federal Reserve, and the rest of the centrals are doing to the values of all currencies, which in turn makes all things outside the CPI far more expensive. Jay Powell is supposed to speak 3 more times this week, to make sure his point is made; “we’re gonna print a lot!” We also have the October Options coming off the board on the 24th, with next week Wednesday being the very last day of the 2020 fiscal year. Which may be why we see this drop in precious metals value along with Nancy and her squad of truthers, using a stopgap approach, to keep funds from those that need it to survive this thing, once again.

      Keep it real! Everything is changing and that includes the slamming of the precious metals price. One day, we will see the same exact move upwards, and it will never come back. So have faith in your logic, paper never wins over rock, and we’ll see it again, sooner than later. After all, Gold made a brand-new life of contract high in August! That is a fact and it will never go away. Silver will soon do the Hi Ho, and those that hold, will find it hard to peel themselves from the ceiling once that metal break free and catches up to the ratio. Prayers for all and as always …

Stay Strong!

Jeremiah Johnson

More J.Johnson content is available with purchase of a JSMineset subscription.

Posted at 9:55 AM (CST) by & filed under In The News.

Bill Holter’s Commentary

Who do you trust when everything is fake?

A New American Invasion of the Body Snatchers _001

A New American Invasion of the Body Snatchers _002

Bill Holter’s Commentary

Why would anyone expect this not to happen?

Intruder With Knife, Boy Being Held: No Portland Police Response For 1 Hour, 36 Minutes
September 18, 2020

By Maxine Bernstein | The Oregonian/OregonLive

Henry Kirim had ducked out of his Southeast Portland apartment to search his car for a missing bank card when a strange man rushed into his ground-floor unit, closed the door and locked it.

Kirim’s 12-year-old son remained inside.

Kirim fumbled for his house key, thankful he had it on the same ring as his car key, and raced to open his apartment door.

“I was so scared,” he said.

The next 10 minutes unfolded in a blur on Aug. 22. The stranger grabbed a kitchen knife. Kirim’s petrified son managed to dart out of the apartment. Kirim followed and started yelling for neighbors to help. When the man eventually fled, several residents gave chase and cornered him nearby.

It took police more than 90 minutes to arrive. Just before an officer finally appeared, the suspect ran off. More than a half-dozen calls had come into 911 over the course of the bizarre ordeal. But that apparently didn’t speed the response.

The wait confounded and angered Kirim and his neighbors. They wondered what it would take for police to respond if not an armed man placing a child in jeopardy.


Bill Holter’s Commentary

“Anarchist jurisdictions…a fair description? Seems like some seriously cheap real estate may be coming to market soon?

Justice Dept. Brands NYC An ‘Anarchist Jurisdiction,’ Targets Federal Funds
September 21, 2020

New York City was among three cities labeled “anarchist jurisdictions” by the Justice Department on Sunday and targeted to lose federal money for failing to control protesters and defunding cops, The Post has learned.

Portland, Ore., and Seattle, Wash., were the other two cities on the list, which was approved by US Attorney General William Barr.

“When state and local leaders impede their own law enforcement officers and agencies from doing their jobs, it endangers innocent citizens who deserve to be protected, including those who are trying to peacefully assemble and protest,” Barr said in a statement set to be released Monday.

“We cannot allow federal tax dollars to be wasted when the safety of the citizenry hangs in the balance,’’ the AG added.


Bill Holter’s Commentary

Tulips, tulips everywhere! We seem to remember something about tulips somehow?

“It’s Better Than The Stock Market”: A Massive Bubble Is Forming In The Rare Plant Market
September 21, 2020

It isn’t just the stock market that’s experiencing a “rising tide” of both trillions in liquidity and inflation – it has now found its way to the rare plant market.

Plants had been booming with millennials prior to the pandemic, as we noted in this piece last year. Now, with people cooped up in their house due to Covid, their popularity has skyrocketed. And where prices rise, speculators show up.

Jerry Garcia, who is 27 and collects tropical plants, told the Wall Street Journal he had been “besieged” by people looking to buy his collection. He has sold cuttings of one ariegated Monstera Adansonii plant for $2,000 each. People pay can even pay up to $250 per leaf for the plant.

Garcia told the Journal: “It’s better than the stock market. I got a bunch of these plants when they were in the double digits, and now they are in the four-digit realm.”

One grower in Plantation, Florida, said she was working 12 hour days, 7 days a week to keep up with the “highest volume of orders” she has seen in two decades.