Lynette Zang, Max Keiser and SRU Sunday Morning 8-30-2020
Lynette Zang: The Currency Reset is Here
Palisades Radio: Aug 29, 2020
Tom welcomes a new guest to the program, Lynette Zang. Lynette is the Chief Market Analyst at ITM Trading. Lynette discusses how the Fed has been unable to hit their 2% inflation target, but she says, "The Fed is getting prepared because they expect to lose control of inflation soon."
The Fed plans to quietly introduce a cashless system with an 18 step plan early in 2021.
This new system will enable the Fed to deposit money directly and will give them absolute control of their policies.
This coming UBI stimulus scheme will be the fuel that starts hyperinflation fire since we are a consumer-driven economy; they have to get us to consume.
This pandemic crisis is very convenient for central bankers as it provides an excuse for all the systemic problems. The data shows that this is a lie since numerous indicators were foretelling a recession.
The fiat monetary system today is a con game.
A reset of the financial system is coming, but quite likely, only sovereign debts will be forgiven, not individuals.
We should be prepared for the worst-case since, during resets, currencies usually get adjusted several times before the process is over.
Those countries with gold (ie, not Canada) will be in a much better position during a financial reset.
Gold is severely undervalued today and heavily leveraged in paper equivalents on exchanges like the Comex.
Futures traders are now standing for delivery, and these exchanges are running out. When they no longer have the physical gold, we will see fireworks.
Time Stamp References:
0:40 - Thoughts on the Fed annoucement.
2:45 - Moving to a cashless system.
15:00 - Blame it on the pandemic.
21:25 - Fiat by decree and inflation.
25:20 - Currency reset predictions.
32:40 - Why Canada will be in trouble.
40:30 - Money velocity and savings.
41:50 - Revaluing currency against gold.
Keiser Report | More Manipulation of Gold Markets = More Fines | E1586
Aug 29, 2020
In this episode of Keiser Report, Max and Stacy look at all the news that happened during their two and a half weeks of Summer Solutions:
Warren Buffett dumped bank shares and went long gold miners; markets continue to hit new all-time highs;
Tesla shares jump on stock split and many more.
In the second half, Max chats to Craig Hemke of TFMetalsReport.com about Warren Buffett’s move into the gold mining sector and what his dumping of most of his bank stocks bodes for a post-virtual Jackson Hole banking sector.
They discuss inflation, deflation and more shenanigans from the bullion banks as ScotiaBank pays yet another fine for manipulating precious metals markets.
Capital One Starts Cutting Credit Limits & Tightening Standards, 61 Million Drivers Are Missing
Silver Report Uncut: Aug 29, 2020
Banks are cutting credit & 61 million drivers are missing from US highways.
Across the U.S. drivers are reporting that they have lessened their commute with many acknowledging that they no longer have a commute due to teleworking or job loss.
There are very real and deep structural changes that have taken place throughout this crisis though many would like to suggest that everything is business as usual demand for public transportation and even driving traffic is still at reduced capacity and the economic effects have yet to trickle through the economy.
It's not just that businesses have reduced their workforce but it's also the support businesses like gas stations that all depend on the continuous movement of people, we're redesigning our economy, of course it's going to have long lasting effects.
Capital One has begun reducing customers credit limits and even shutting down credit lines in preparation for the waves of defaults coming through. In the beginning of this crisis the Federal Reserve and the banking Regulators were warning that Capital One had serious structural challenges meaning that they were at risk of exposure to bad loans, they may have the highest level of exposure to the millions and millions that have lost their jobs seeing how the overwhelming majority of their income comes directly from consumers.
The fact that these banks have begun cutting credit it shows you that they do not believe that we are currently in an expansion they believe that we have reached the end of the credit cycle and just as typical in recessions the banks have begun limiting their exposure.