Armstrong Economics Blog/Cryptocurrency
Re-Posted Sep 11, 2020 by Martin Armstrong
QUESTION: Marty, they do not call you the legend for nothing. You nailed the crash earlier in the year and the very day of the low on March 23. Now your call for the September 3 target was again to the day. In the middle of this chaos, gold has not performed well. Given this is 21 years up, that does not give a lot of confidence for a continued rally just yet. Will you be doing the gold report soon?
ANSWER: This year was a Directional Change for gold and the next turning point in 2022. Most of the volatility on gold appears to be the first six months in 2021. You must understand that this is far more than just a war against Trump to conquer Capitalism and impose drastically higher taxes and this New Green World Order that Bill Gates wants to eliminate meat production along with fossil fuels. The number of active oil wells in Texas has fallen from the 400 level to about 100. This is creating a massive shortage in everything from food to energy.
The first sports arena to open in Las Vegas is making it very clear – NO CASH accepted. They are actively making money scarce and telling everyone cash is dirty and spreads this life-threatening virus. This hoax is being carried out to usher in the cashless society so they can collect their 70% tax rates by force.
In Thailand, there were 58 deaths from this virus, yet 2,551 suicides because of losing everything. This virus has impacted absolutely everybody. No politician in their right mind would do this unless they are being bribed.
There remains a serious risk to the gold market that they will once again make it illegal. You must realize if they are trying to eliminate cash to force everybody back into banks so they can tax you, why would they allow gold or private cryptocurrencies to compete? Pay attention! California is trying to create RETROACTIVELY a wealth tax proposed by Elizabeth Warren on the advice of the French Marxist economist – Thomas Piketty. A wealth tax FORCES you to tell them ALL your assets EVERYWHERE even if in storage offshore. These are policies that the Democrats are championing and it will drive gold underground.
So, the answer is YES! I am preparing a very important report on precious metals.
Anyone who thinks that this has not been orchestrated is delusional. I warned that our computer picked up this plot beginning in late August 2019. European politicians have gone along with Gates for one reason. The Repo Crisis began because Merkel publicly made it clear that there would be no bank bailouts in the Eurozone. That was because of the Italian banking system. But then Deutsche Bank was in trouble and she has to maintain that same policy.
Therein began the Repo Crisis. US banks would not lend in the REPO market to any European bank for fear if a collapse took place, they would be stuck with losses the Eurozone would not cover unlike the aftermath of the Lehman Brothers Crisis. Hence, the Fed had to step in and provide lending in the REPO for European central banks.
Consequently, creating this FAKE Pandemic has been the life-preserver for Europe. This has masked the banking crisis and justified now buying banking stocks, which is the indirect bailout, and the elimination of cash in Europe will force everyone to return to the banks. They need this HOAX to cover the banking crisis, but in the process, they have created a huge nightmare they did not foresee.
Suspending rents and preventing evictions while they imprison the population in lockdowns with no real pandemic which German Health Minister just had to admit, has undermined the banking system even further, Now they are talking behind closed doors about forgiving past rents for tenants. That does not address the collapse in commercial property. That is raising the Marxist issue of perhaps they should just confiscate those rental properties by nationalizing them.
The ideas being bounced off my ears are too absurd to think about. None of them propose a return to a gold standard – sorry!