QE∞

Please read and forward this free public thread.

102
Mon, Mar 23, 2020 - 10:47am

What's the old adage about how "first they laugh at you, then they criticize you", that whole thing? Well, ten years on, all of our talk about The End of The Great Keynesian Experiment is seemingly playing out before your eyes. I hope you prepared accordingly.

Every Sunday, MrsF and I record and watch the US program called "60 Minutes". When I heard that Fed Goon Kashandkari was going to be on last evening, I was prepared for the usual BS. And that's basically what it was...until we got to this:

"There is An Infinite Amount Of Cash At The Federal Reserve. We Will Do Whatever We Need To Make Sure There Is Enough Cash In The Banking System." - Neel Kashkari (Federal Reserve Bank): >>Translation<<: We Are Going To Obliterate The Purchasing Power Of Your Currency. pic.twitter.com/qaMFfOI70b

— Ben Rickert (@Ben__Rickert) March 23, 2020

When I heard it, I immediately looked at MrsF and asked, "did you catch that"? What a blatant and bald-faced (pun intended) admission! "AN INFINITE AMOUNT OF CASH!"

So there you go.

And now today we have this....truly QE∞: https://www.marketwatch.com/story/fed-announces-unlimited-qe-and-sets-up...

Understand this...Yes, there is a corporate bond and commercial paper market that needs some bids. And yes, there are some municipal markets that need some bids, too. But this is 95% about direct debt monetization.

The US Congress is trying to put together a $2T "stimulus package". As I've told you for weeks, that won't be nearly enough. Combine that reality with the startling drop in tax revenue receipts that is about to hit ALL levels of government, and you get a US 2020 fiscal deficit that might reach $5TRILLION or more. How will that possibly be funded? They might even try that silly "platinum coin" idea at some point! But it doesn't matter HOW they attempt to rationalize and justify it, the debt/deficit is going to explode and the only source of funding is.....MASSIVE "INFINITE" FED CASH CREATION. Plain and simple.

So what does this mean for us? Well, to begin with, maybe not that much. The dollar price of gold and silver is still determined by the trading of futures contracts that are no more related to the actual physical metal than the trading of baseball cards. While this remains the pricing scheme, you can be assured that The Banks, the Central Banks and the BIS will do the very best to smash rallies and contain "price". I mean, look at today! "Gold" is only up 2% on the news.

We've warned and advised for the past several years that ONLY a physical market disruption can cause the run on confidence that will destroy The Bullion Banks and their criminal, fraudulent pricing scheme. That collapse in confidence and run on physical is coming....but it's impossible to say when. Could it already have begun? Maybe. The Mints are out of silver and not producing more coins for at least a few weeks. Reports out of Switzerland show that up to 75% of that country's refineries are temporarily shutting down.

Almost half of World’s gold bar production will stop this week: https://t.co/OZAtv3I0fn

— willem middelkoop (@wmiddelkoop) March 22, 2020

So look, we can continue to talk about price and levels and moving averages and all the rest. There will still be time for all that. However, for today, you need to understand that The End of The Great Keynesian Experiment is truly upon us. The Banks have finally shown their hands and they are openly admitting their strategy. Fiat currency can be created from nothing to service accumulated debts in a desperate attempt to keep the economic plates spinning. However, ONLY GOLD AND SILVER ARE MONEY. They have been for millennia and they shall be globally-recognized as such again in the months and years ahead.

Be situationally aware. Care for your family. Wash your hands. And prepare accordingly.

TF

p.s. Now more that ever, you need objective and honest analysis. At TFMR, we provide a morning update and evening podcast every day. We are your financial eyes and ears so that you can focus on the other items that demand your attention on a daily basis. Join us. The community here is like no other. And it's all available for just 40¢/day.

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  102 Comments

  Refresh
Connie
Mar 24, 2020 - 4:58am

Question

Does the steady price climb overnight indicate an orderly retreat by the bullion banks? Has one of them, possibly Jigantic Pile of Manure, flipped long? Asking for a friend.

bern
Mar 23, 2020 - 9:23pm

Not sure if you saw this with

Not sure if you saw this with everything else happening right now:

https://www.bloomberg.com/news/articles/2020-03-20/fed-could-snap-up-mun...

If it passes, Fed will have free reign to bail out Chicago and other bankrupt municipalities. Hey, what's a few more billion or trillion added to the pile? Fed balance sheet might triple within the next year or so.

bently
Mar 23, 2020 - 6:21pm

Libero -- https://abcnews.go.com/Politics/fauci-throws-cold-wate

With all due respect...

You could due your due diligence as a journalist and explore all of the evidence around effectiveness of Hydroxycholorquine combined with Azithromyxin...

or just run another Trump is a dope story...

silverseekerTabberto
Mar 23, 2020 - 5:42pm

Let's see some "Swiss Stairs" appear on that Gold Chart

Speaking of pulling some old discussions out of the closet; FOFOA and later Sinclair would sound the trumpets whenever the "Swiss Stair" pattern appeared on the Gold Charts... a regular step and buy program; where each step up in price is defended with brief rest periods and no pullbacks; a repricing mechanism that acts like a vise on the shorts.

Could today mark the first step?

surfeitndearthRobertoe
Mar 23, 2020 - 5:41pm

Whatsapp

owned by FacePlant.. just sayin'

Alex777
Mar 23, 2020 - 5:32pm

Keith Neumeyer Interview

Physical silver supply squeeze about to get worse warns Keith Neumeyer
Liberobently
Mar 23, 2020 - 5:22pm

Please bently, there are many other reasons

to vilify the prez (his wanting to give half a $trillion in secret to his favored companies as cited above is one). Actually, I don't see the vilification of his wanting to explore alternative therapies.

bently
Mar 23, 2020 - 5:17pm

Actor contracted Coronavirus, praises Hydroxycholoroquine

https://hotair.com/archives/john-s-2/2020/03/23/actor-contracted-coronav...

More anecdotal evidence, but many in the media vilify Trump for also praising these medications -- and providing hope -- too soon.

If Trump were not president would we be having these discussions?

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silvercan
Mar 23, 2020 - 5:03pm

Sprottmoney open for business again

Looks like 4 items for sale. Silver selling for 36 Canadian dollars an oz.

lakedweller2
Mar 23, 2020 - 4:48pm

Virus Bill

The problem is that it is heavily laden with corporate bailouts and tax favorable items that don't benefit the people. People get the virus.

The people are sent home without work.

The real kicker is a provision to pass untold billions from The Fed (counterfeited) and passed through the Exchange Stabilization Fund to unspecified corporations. So an unaudited private activity (The Fed) would be given authority (proposed by Repubs) to print money (not limited) and pass it through another Unaudited organization that can then pass it to Un-named Corporations and that is supposed to fight the Virus.

Corruption at its best. Leading the Group as usual is McConnell.

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