Banks Hoarding More and More Gold Tells Real Story About US Economy

A few years back when I was in Las Vegas visiting a buddy of mine, we were driving by all the big casinos- The Wynn, the Bellagio, Caesars- all these beautiful and incredible structures. Great big giant palaces.

My buddy said to me “JB,  these casinos weren’t built by winners, they were built by suckers and losers.” And every time I go back to Vegas, I always think about what my friend told me.

And when I look at Wall Street I say to myself “look at those big giant banks- those big buildings, those big hedge fund buildings, those big financial and investment firms- look at those giant palaces they’ve built”, and I say to myself, “those buildings were built by suckers and losers, and you know when these institutions start losing money they crash the system and then you see the biggest wealth transfer of its time when they come and they take your house, and when they take all your assets.”

You see, the house never loses- it’s a rigged system. It’s a Ponzi scheme and when they start to lose they crash the system and they transfer all that wealth because the house never loses. Right now there is a crisis waiting to happen, no doubt in my mind, and I think to most people who follow these markets and who are awake, there is no doubt in their mind that a crisis is forming right now and that we’re actually in the beginning of a crisis already.

When you have a combination of slow or negative growth and this unprecedented amount of debt, it’s a recipe for economic destruction and the real reason that I think we’ve been seeing these rate hikes now- six since Trump has been elected- is because they know that we are heading into a big recession and they need to get these rates up so that they can adjust themback down in order to get out of the recession at a later time. 

You need to be able to adjust rates and drop rates four percent or more and so we don’t have four percent to adjust or to drop and we would be negative at that point- so I think they’re expediate amiss as quickly as they can because they know that we are on the verge of a recession and they need room to drop these rates the markets were getting decimated today and the Fed came out and said that they’re gonna wait and see.

They’re gonna do this wait-and-see approach that maybe they won’t be raising rates four times next year, they’re gonna have to really see what the economy is doing again wait and see and so the market reacted today and we were literally probably around negative 400 when that news came out and I thought the market was almost going to go green I think we’re down about 70 points maybe today.

So the market just roared back on that little bit of news and that is basically putting a band-aid on a gunshot wound and that should tell you that even though all that was good news to the market today it was really bad news overall for the economy.

Interest Rates Are Not Even High, Yet Everyone Else Appears to Be

That’s telling you right there that the economy is not that good -we are at 2% right now okay? 2% interest rates-  this is how fragile the economy is that this this market or these markets cannot handle a 25 basis point bump because it’s ready to just implode so at 2% we’re still at near 0% and the Fed has to back off because they know that this economy is not doing that well.

This should be a huge red flag to everybody, this is not good news it is actually bad news and things are not as they appear. Central banks know the truth and they’re buying gold and silver hand over fist right now. They are hoarding this stuff, as central banks currently hold 20 percent of all gold that has ever been mined. Central banks actually account for 33 thousand metric tons of gold.

Look at JP Morgan- they said they’re gonna be buying another 650 tons of gold between this year and next year, and they hold anywhere from 800 million to 1 billion ounces of silver so what do you think Jamie Dimon and his bank JP Morgan Chase know that you or I don’t?

Why do they own so much of this metal?

There’s a lot of political and economic uncertainty across the globe and at home right now. Another reason I choose metals is because if anything’s been stable the last couple weeks in these markets- it’s been gold and silver.

So it’s probably a very good time if you’re not into these right now I would definitely be looking into the gold and silver market and not owning the paper you want to own- the hard, tangible real stuff- you know if you don’t hold it, you don’t own it. This is why Gold IRAs are so great because you can take delivery of the gold and still get tax benefits too.

This is why I advise holding the solid material, not paper. You need to put it where you can get to it and be preserving your wealth at the same time because there is too much uncertainty in the world right now and there’s way too much uncertainty here in the United States of America.

You need to be really really careful what’s going on you need to be awake and youn eed to be holding the two most beaten-down unappreciated undervalued assets in the entire world which is gold and silver, and we’ve added more uncertainty with the arrest of the CFO from Huawei the Chinese mobile phone company December 1st in Canada, who will most likely be extradited to America for trial.

This is going to to have some effect on the trade truce with China, so what kind of effects exactly are we going to see from that? China seems very upset and they want her back, and we’re gonna see how that plays out too.

Again, it adds more uncertainty into the picture watching these markets…

CEO of General Motors Has No Conscience After Layoffs

Today was one of the most disturbing things I’ve seen on TV- the interview with the General Motors CEO, and she looks like a complete mess. It’s just shocking that she’s the CEO of General Motors but just really the disrespect and arrogance that General Motors has towards America after the American taxpayer bailed this company out after after the 2008 crash

We bailed this company out and now they’re closing these two plants in Michigan and Ohio- thousands of people are gonna be laid off and gone, and the upper management are not laid off… the towns, the cities that these plants are in are going to be decimated now… the restaurants, the housing, these people that have these jobs these plants were there for over 50 years and these towns’ businesses relied on General Motors being there…

People are going to lose their houses after these GM layoffs. They’re going to lose their life savings and their whole life is about to change. These cities and these towns where these plants were there they’re gonna they’re gonna feelit ok this could really bury thesecities and the people that live in these cities not just that worked a GM but the people that worked in the outlying areas that fed off a GM- the restaurants, the stores, the gas stations and convenience stores, retail stores and malls – everybody’s gonna feel the effect

But General Motors is gonna leave their Mexico plant open, their Asian plants open, and so Miss CEO of General Motors was forever grateful to the American people- “thank you so much for that bailout we’re done here and we’re going to Mexico.” Because in Mexico they can pay people 2 dollars and 50 cents an hour, it is next to the Philippines as the cheapest labor in the entire world so it’s basically slave labor and they will go down there and they will pay people next to nothing.

I can guarantee you though their cars and their trucks will be no cheaper so they’re going to make even more money off the same product, and it will be you of lower quality and they’r egonna wind up charging you more for the same product of lower quality. They’re gonna go down there and use slave labor and sell products here for for even more than they were that they were selling it to you now.

I think America should just boycott the hell out of GM, what a terrible thing right before Christmas to do to these people and what a terrible thing to do to America after we bailed you out.

When this next economic crash happens and they need a bailout Donald Trump can tell them to go to hell and you know what GM can go to hell too and you know we can support other automakers for God’s sakes… Toyota and Lexus makes cars right here in America, in fact they make more American-made cars than American car companies do right here in America!

Add to all this the fact that many American consumers are piling on holiday debt to existing masses of high interest credit card payments, and you will understand why factory orders have tumbled to new lows overall and condo prices are crashing in San Francisco. The consumer is tapped out and spending on fumes at this point.

Pray to God and set your affairs in order. We’re in for a very bumpy ride in 2019.