Loading ...Powell and the Gates Depression
QUESTION: I know you will not acknowledge if the Federal Reserve is now listening to you. But you have called this the Gates Depression and warned that the low may not come globally until 2022. You have said there is no precedent for this type of economic decline and Powell seems to be at least reading you for he said this downturn is “without modern precedent.” You have also said that no amount of stimulation can put humpty dumpty back together again. Do you have any suggestions you would like to make in case others are listening?
PB
ANSWER: Nobody in their right mind would have organized a global lockdown of this magnitude. The economic damage to the population is beyond repair. You have governors still trying to maintain lockdowns for no rational reason whatsoever. This is purely a coup and a deliberate one to destroy the economy – plain and simple. Nobody can be this stupid, and then after witnessing the economic collapse even to state revenues, they still try to justify these lockdowns.
While the central bank has made efforts to limit the economic shock caused by coronavirus-related shutdowns, there is nothing the Fed can do to repair this damage and despite the fight over $3 trillion relief measure that Republicans dismissed as exorbitantly priced and overreaching, that would by no means repair the economy. It has been killed and its not coming back so easily.
The government’s relief efforts to date have barely sustained individuals and companies. It is impossible. With this degree of proposed debt, there is NO VIABLE European bond market left. We are staring into the eyes of a complete monetary system collapse. Europe and Japan have destroyed their bond markets so there is no possible future for them to raise money at these absurdly low artificial rates. They have destroyed so much capital formation that there is not a prayer left in the book you can possibly find to apply to this insanity.
The government’s relief efforts to date have barely sustained individuals and companies. It is impossible. With this degree of proposed debt, there is NO VIABLE European bond market left. We are staring into the eyes of a complete monetary system collapse. Europe and Japan have destroyed their bond markets so there is no possible future for them to raise money at these absurdly low artificial rates. They have destroyed so much capital formation that there is not a prayer left in the book you can possibly find to apply to this insanity.
Next week is a Panic Cycle. I know a lot of people thought I was wrong and the slingshot would take off. But all the economic numbers are looking very bad. We need people to then realize what these morons have done following Bill Gates like the Pied Piper. The damage to the economy is in excess of $10 trillion according to what we are looking at. So even $3 trillion would still not repair the damage and we have state governors refusing to open in hopes of hurting their own people for political reasons. They will ask Trump to cover their losses and that will be denied so they will blame him for their deliberate actions and try to use that in November. This is the worst corruption I think I have ever encountered.