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Rapidly Moving Toward a Socialist Dictatorship

During the week just passed, it is literally true—there was no place to run and no place to hide. As you can see from our Key Metrics table, everything lost value this week. Usually when equities and commodities are down, we will see money flowing into TLT or gold. Of course, no doubt some flows went into short-term T-Bills. Yours truly purchased some 3-month T-Bills with a 5.08% rate. Short-term Treasuries with some kind of positive nominal yield is a reasonable place to park some money while a clear direction for the markets can be discerned. Clearly, the present picture of the future is as clear as mud! Chairman Powell is trying to retain some semblance of capitalism for America before Klaus Schwab, George Soros, and the totally insane woke Democrat Party try to sell the masses of Americans into slavery.

It is indeed troubling that you can’t really trust anything that is being said by our leaders. As John Rubino noted in his Substack article this week titled, “Is Everybody Lying?” Secretary of State Blinken is now known to have lied about the Hunter Biden laptop story in order to ensure a Biden victory. The CDC director lied about vaccine efficacy. Dr. Fauci lied about using Twitter to push vaccinations, and he lied under oath about gain-of-function research. Recent Pentagon leaks show everyone was lying to everyone else and all while we are told Ukraine is winning the war, which is patently false. Then as reported on Tucker Carlson on April 20, there is a black ultra-liberal group in America who have taken a position against the war in Ukraine and are being threatened with imprisonment for simply exercising their First Amendment rights.

Dear subscribers, this is no longer America. We are very rapidly morphing into tyranny because we have a Democrat Party that is selling out to Davos and its quest to impoverish the masses and use them as slaves. The real battle now is between the Davos crowd that wants to implement global socialism with the likes of Soros, Schwab, Bill Gates, and others lording it over the rest of us and the remnants of capitalism in the banking sector like Jamie Diamond of JP Morgan Chase. While the CEOs of America’s largest banks are anything but clean, they and Chairman Powell are fighting against a growing number of professionals in the Federal Reserve who want to institute Modern Monetary theory, in which case there would be no place for the bankers to do what they do. Only a government-connected central bank is required to hand out loans, not of course based on economic viability but on the basis of how handing out money can allow them to consolidate dictatorial power. This process is very much underway and desired by the Biden Administration. Did you see where Biden is going to make people with strong credit ratings pay more, not less, for mortgages while people with poor credit ratings will be subsidized with lower rates? Did you hear what I said? This is no longer America. We are moving very rapidly toward a socialist dictatorship. So, it’s impossible to analyze risk in markets. I believe Michael’s technical analysis is as good as is possible in weighing which markets to be in and which to avoid. We will get his views on that on my show next Wednesday. But clearly the markets are increasingly manipulated for political purposes. The best bet is still gold and gold shares. But when the Marxists or fascists take over completely, they can do whatever they want with your wealth and ultimately your life because they don’t believe in your right to own property or to live if they think you are not of value to their quest for power. That fact that we in America have lost our First Amendment rights means the days of life, liberty, and the pursuit of happiness are nearing an end.

The rest of the world is really understanding America’s demise better than most Americans who are manipulated by propaganda and the politics of division being planted by the Marxists within the Democrat Party. The world is starting to gang up against America because of how we have treated them economically and politically since World War II and especially since Nixon yanked gold from the international monetary system in 1971. Detaching gold from the dollar allowed our policymakers enough rope with which to hang themselves and indeed that is exactly what they have done. The writing is on the wall. America is already bankrupt. As someone recently said, it’s impossible to bail out a Ponzi scheme, which is exactly what the dollar has been, especially since 1971.

In his latest piece, titled, “How Quickly Will the Dollar Collapse?” Alasdair Macleod provided the following overview to the article:

This article looks at the factors behind the growing rejection of the dollar for trade settlement purposes by non-aligned nations around the world. They no longer fear political or economic reprisals from America.

The dollar’s monopoly was notably challenged by Saudi Arabia, which removed itself from the US’s sphere of influence to that of China and Russia. Consequently, peace has broken out throughout the Arab lands.

But rising interest rates have destabilized western banking systems, which have added to the attractions of payment in China’s renminbi relative to maintaining bank deposits and investments in the currencies of the western alliance—particularly of the dollar. Foreigners hold $7 trillion of deposits and short-term bills and $24.5 trillion in bonds and equities. These balances are becoming surplus to their needs.

The outlook is for US bank credit to contract further, which will drive interest rates even higher. More banks can be expected to fail. Foreigners are bound to become increasingly reluctant to hold dollars, which they will sell. Therefore, the question now is not how much the dollar will decline, but how rapidly.

There are credible analysts who may think Alasdair’s views are simply those of an alarmist seeking to profit from gold sales—because he works for I disagree. I have become well-acquainted with Alasdair over the years and he is as ethical as any man or woman on earth. Now if you are sensing that these weekly letters are becoming a bit briefer, I can tell you that this 76-year-old man (your editor) is wanting to spend a bit more time contemplating what lies in the future beyond this life and to grow closer to my God. I’m not trying to sell newsletters when I tell you I think the future is likely to bring unfathomable pain and suffering to Americans who have had it relatively easy through two World Wars and a Great Depression. Yes, we want to own gold and silver to simply preserve wealth. Yes, we want to own gold exploration stocks because those represent the greatest upside. But given the obvious disdain for human masses by the ruling elite, putting our faith in them rather than in our Creator is indeed a fool’s errand. 

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