Posted at 8:36 AM (CST) by & filed under

By Greg Hunter’s

Five time. best-selling financial author James Rickards contends all this money printing to retard the effects of CV19 is not going to produce inflation—just the opposite.  Rickards explains, “Let’s say I go out to dinner and I tip the waitress.  The waitress takes a taxi home, and she tips the taxi driver.  The taxi driver takes the tip money and puts gas in his car.  In that example, my $1 tip had a velocity of three:  the waitress tip, the taxi tip and the gasoline.  So, my $1 produces a velocity of three.  My $1 produces $3 of goods and services.  That’s velocity, but what if I stay home, don’t go out and don’t spend any money?  In that case, my money has a velocity of zero.  $7 trillion times zero is zero.  If you don’t have velocity, you don’t have an economy.  The $7 trillion is the base money supply, and that could be $8 trillion or $9 trillion . . . and that by itself does not produce inflation.  What you need is turnover, and we are not getting that.”

Rickards says, “Initially, the problem right now is deflation and not inflation, but deflation.  There is too much debt.  Growth is too slow, and the psychology is wrong because people are saving and not spending.”


Posted at 1:10 PM (CST) by & filed under In The News.

Bill Holter’s Commentary

Erik on a gold standard?

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Bill Holter’s Commentary

Erik on the next two days…and freaked out by “Siri”!

[PDF available]

Bill Holter’s Commentary

The Everything Bubble of all time!

Executive Summary
The long, long bull market since 2009 has finally matured into a fully-fledged epic bubble. Featuring extreme overvaluation, explosive price increases, frenzied issuance, and hysterically speculative investor behavior, I believe this event will be recorded as one of the great bubbles of financial history, right along with the South Sea bubble, 1929, and 2000.

These great bubbles are where fortunes are made and lost – and where investors truly prove their mettle. For positioning a portfolio to avoid the worst pain of a major bubble breaking is likely the most difficult part. Every career incentive in the industry and every fault of individual human psychology will work toward sucking investors in.

But this bubble will burst in due time, no matter how hard the Fed tries to support it, with consequent damaging effects on the economy and on portfolios. Make no mistake – for the majority of investors today, this could very well be the most important event of your investing lives. Speaking as an old student and historian of markets, it is intellectually exciting and terrifying at the same time. It is a privilege to ride through a market like this one more time.


Bill Holter’s Commentary

And the punchline is…it was ALL DONE ON CREDIT in the first place!

The U.S. Has Lost More Than 110,000 Restaurants, Setting The Stage For A Commercial Real Estate Collapse Of Epic Proportions
January 4, 2021

The restaurant industry is in the midst of a complete and total meltdown that is unlike anything that we have ever seen before. If you ask Google how many restaurants there are in the United States, it will tell you that there are 660,755, although that number is a few years old. But for the purposes of this article, that is a good enough estimate. Americans love to eat out, and restaurant workers are some of the hardest working people in the entire country. So it is incredibly sad to see more restaurants constantly going under. In some cases, restaurants that have served their communities for decades are deciding to permanently close their doors. For example, over the weekend Sammy’s Roumanian Steakhouse in New York City announced that it had finally reached the end of the road…

Landmark New York City restaurant Sammy’s Roumanian Steakhouse has closed its iconic basement-level doors as the coronavirus pandemic continues to cripple the restaurant industry.

The Lower East Side fixture was famous for its latkes spreads, chopped liver, and vodka bottles frozen in blocks of ice and was known as a boisterous party spot frequented by celebrities.


Posted at 8:31 AM (CST) by & filed under General Editorial.

Great and Wonderful first trading day of the year folks,

      Gold popped right out of the shoot last night, and continued to rally into the night, with the trade now at $1,938.40, up $43.30 and close to the high at $1,941 with the low at $1,911.30. Silver leads the percentages with its trade at $27.40, up 98 cents with its high close by at $27.55 and the low at $26.73. The forever in print US Dollar is now valued at 89.485, down 40.9 points, and 10 points off the low at 89.39 with the high at 89.87. Of course, all this happened before 5am pst, the Comex open, the Brexit, after Bitcoin traded higher than our Dow Jones Industrial Average (LOCH)and after a country goes full retard with a 100% digital currency, and its one we’ve been watching too!

      Gold, under the 100% digitized Venezuelan Bolivar, is now trading at 19,359.77 gaining 409.49 Bolivar since Thursday with Silver adding 7.841 with the last price at 273.658 Bolivar. In Argentina, Gold is now valued at 162,998.43 proving a 3,327.34 A-Peso gain with Silver adding 64.54 A-Peso’s with its last trade at 2,304.04. On the other side of the planet, Turkey’s last price for Gold proved a gain of 187.05 T-Lira with the last buy at 14,279.57, with Silver’s last price at 201.782 T-Lira, adding 4.107 to its last years closing price. 

      February Silver’s Delivery Demands now has a total of 483 fully paid for 5,000-ounce contracts waiting for receipts with a Volume of 31 already up on the board and with no price posted. Thursday’s full day of trading activity happened in between $26.54 and $26.35 with the Calculated Comex Closing price at $26.332, a loss of 15.6 cents, helping to reduce the demand count by 466 contracts that may have gotten receipts. Silver’s Overall Open Interest lost only 419 contracts bringing this early morning total to 171,427 contracts willing to trade against the physicals. Which begs the question; are the numbers in the early morning not updated, or is it possible the algos are willing to hold their shorts as a $1+ gain puts their short positions closer and closer to a margin call?

      February Gold’s Delivery Demands now has a total of 521 fully paid for 100-ounce contracts waiting for receipts with a Volume of 143 already up on the board and a trading range between $1,929.60 and $1,912.60 with the last buy at the high, a gain of $36.50 while the papers push the prices higher. Thursdays full, yet partial, day of trade happened in between $1,901.30 and $1,892.70 with the CCC set at $1,893.10, a gain of $2.10 that had a total of 127 swaps helping to reduce the demand count by 653 contracts that may have gotten receipts. Gold’s Overall Open Interest also lost very little of its paper proving only 993 shorts jumped ship leaving a total of 560,059 contracts left to lose money will the precious metals climb.

      The level of frauds perpetrated, which is intentionally being ignored by those assigned to uphold the electoral laws, is huge. I have watched each state’s voter fraud hearings, seen the videos, listened to those willing to go to jail if they lied, observed how everything lines up proper, and to me, it is conclusive! Either it’s all a joke, or we’re going to see the real reasons for treasons. If this election is truly stolen, then prepare for the removal of the First and Second Amendment and for your vote to never matter again. We choose law and order, and the right to speak freely and openly, and of course, the right to bear arms.

      To see the Dow Jones Industrial’s value, trade below that of digital air (Bitcoin), should really wake people up to what has happened already. This political crap called the CCP19 shut down, only helped the big corporations, and have killed off all the small companies that make our nation the greatest, because small companies don’t get the handouts. If the rumored links between China and the DNC are real, then shit has already hit the fan. Which explains the stink in this election, and the reasons it’s not being reported fairly, or without bias. Why are these hearings not being shown on Main Stream Media?

      Back to the positive, today we celebrate Bill Holter’s Birthday. The markets sure are! Make all day’s count, and keep piling on precious metals and have a prayer for all suffering under the politics of today, and as always …

Stay Strong!

Jeremiah Johnson

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

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

Bill Holter’s Commentary

Money from nowhere?

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Bill Holter’s Commentary

The test of time? “Time” is now!

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Posted at 1:45 PM (CST) by & filed under In The News.

Bill Holter’s Commentary

Is it as “different” now as it has been “different” so many times before?

Plus Ça Change: A French Lesson In Monetary Debauchery
December 30, 2020

Fiscal policy shifted into turbo-charged, warp speed, overdrive early into the COVID related recession. To facilitate the borrowing binge, the Federal Reserve took unprecedented monetary actions. In 2020, the fiscal deficit (November 2019- October 2020) rose $3.1 trillion and was matched one for one with a $3.2 trillion increase in the Fed’s balance sheet.

The Fed is indirectly funding the government, but are they printing money? Technically they are not. However, they are inching closer through various funding programs in coordination with the Treasury Department.

Will the Fed ever print money? In our opinion, it is becoming increasingly likely as the requirements to service the interest and principal on existing debt, plus new debt, far exceeds what the economy is producing.

Given the increasingly dire mismatch between debt and economic activity, we think it is helpful to retell a tale we wrote about in 2015. This article is more than a history lesson. It effectively illustrates the road on which the U.S. and many other nations currently travel.

This story is not a forecast but a simple reminder of what has repeatedly happened in the past.

As you read, notice the lines French politicians use to persuade the opposition to justify money printing. Note the similarities to the rationales used by central bankers, MMT’ers, and neo-Keynesian economists today. Then, as now, monetary policy is promoted as a cure for economic ills. As we are now constantly reminded, massive monetary actions have manageable consequences, and failure is blamed on not acting boldly enough.


Bill Holter’s Commentary

Arrested? Are they hiding something?

UK Woman Arrested For Filming Inside Empty Hospital
December 30, 2020

A woman in the UK was arrested by police after she filmed a video inside an almost completely empty hospital and posted it online.

The clip shows the woman walking through virtually empty corridors and filming empty wards at Gloucestershire Royal Hospital.

“This is a disgrace…it is so dead…all the people in our country desperately waiting for treatment, cancer treatment heart disease, honestly this is making me so angry,” she states as she films a row of empty waiting chairs.

The woman expressed shock at how quiet the hospital was, saying she expected there to be “a few more people around, there’s absolutely nobody.”