Posted originally on Mar 19, 2025 by Martin Armstrong
COMMENT: Marty, I spoke to a friend at the __________ bank in NY, and he said on gold, listen to Armstrong. I found that interesting since he was well up there in the Bank’s food chain. He also said this is geopolitical, not inflation.
Kevin
ANSWER: Well, as I have said, gold’s not stopping when it is geopolitical. We gave our price and timing targets. Forget the BS about inflation. Gold is rising for the safe-haven demand as geopolitical tensions increase. Banks that do follow us know that we are bullish on bullion’s safe-haven status as anxiety escalates about the global economy. The fact that the Federal Reserve is poised to keep borrowing costs steady realizes that Keynesian Economics is dead. The rise in interest rates no longer stops inflation because government expenditures rise, and politicians will NEVER reduce spending because the Fed raises rates.
Posted originally on Mar 19, 2025 by Martin Armstrong
The Democrats have long relied on class warfare to mislead the people. They want the masses to believe that their neighbors are their enemies rather the government who is pulling the strings. Bernie Sanders, 83, launched his “stop oligarchy tour” with an introduction from a transexual singer who deliberately mocked God, Jesus, Holy Easter, and Christians in general. Teaming up with Alexandria Ocasio-Cortez, they want to stir anger against Trump for having wealthy members in his administration.
John Fetterman once backed Bernie Sanders and the progressive movement, but has since changed his tune. Fetterman acknowledged that his party is completely out of touch with the average person. The average person is not well-versed on the term “oligarch,” Fetterman insist, and “oligarchs” are not the problem.
A reporter recently asked Fetterman if he was worried that Trump was surrounded by the wealthiest administration in US history. “I don’t think it’s so much about their wealth. It’s just because they might have some kind of the views or some things that I don’t agree, and they would push a lot of decisions and changes in our government that I wouldn’t support or would like to see happen in there too,” Fetterman responded. “So it doesn’t really follow their wealth for me. It just follows some of these kinds of core beliefs and the things that they’re willing to push and to do.”
Yes—Fetterman actually admitted that his party and Bernie’s entire platform is completely hypocritical. He noted that many of the billionaires who were once in tech were “more friendly to the Democratic interests.” Have we forgotten that Mark Zuckerberg used social media to completely manipulate the 2020 US Presidential Election, cover the Hunter Biden laptop story, deplatform conservative voices, and control the COVID-19 narrative? Alex Soros has shaken hands with nearly every member of the DNC. I won’t even begin to speak on Bill Gates.
In fact, far more billionaires support the Democratic Party than the Republican Party because the premise of far-left politics leads to equality for all—including everyone becoming equal in poverty while the wealthy hide behind fake virtue signaling charities to save face. Perhaps one of the most memorable debate moments in recent presidential history was when Donald Trump called out Hillary Clinton for permitting her billionaire supporters to use tax loopholes while demonizing the rich. The Democrats did not sign one piece of legislation to close these loopholes for the dreaded rich.
Sanders has not used his $15 million net worth to help the people. He has not offered to house migrants at any of his three properties. Remember that socialism requires YOUR money to temporarily function.
The Democratic Party has hit an all-time low in favorability at 29%. They are losing favor among working-class voters, especially in key swing states, due to economic mismanagement, inflation, and government overreach. A recent NBC poll showed that closing the border was Trump’s most popular policy to date. Biden used the migrant crisis and woke policies like DEI to force Americans to identify as anything other than Americans—divided we fall.
Posted originally on Mar 18, 2025 by Martin Armstrong
French President Emanual Macron is encouraging the boycott of US-made products. Although he is speaking to EU leaders about US-made defense products, Macron is clearly in favor of the growing calls around the EU to boycott all American-made goods. “My intention is to go and convinceEuropean states that have become accustomed to buying American,” he said on Saturday after declaring that he would visit other European leaders to urge them to discontinue purchases of US defense equipment.
“Those who buy Patriot should be offered the new-generation Franco-Italian SAMP/T. Those who buy the F-35, should be offered the Rafale. That’s the way to increase the rate of production,” the president said. Macron wants to send his troops to Ukraine’s frontline immediately and has become outraged with the US for electing a president who supports peace. “This [sending troops] would mean a partial invasion of Ukraine and a freeze on the conflict, without offering any security or guarantees for the future,” Macron said.
European Commission President Ursula von der Leyen also stated that new defense loans should go to European manufacturers and has proposed a €150 billion ($163 billion) loan for member states.
This goes far beyond defense spending as European leaders are outraged by the United States backing away from the war, the Paris Accord climate agreement, the World Health Organization, and every other globalist policy that was ruining the nation.
French MEP Raphaël Glucksmann, of the Socialists and Democrats group recently demanded that the US return the Statue of Liberty. “We’re going to tell the Americans who have chosen to align themselves with tyrants, who have dismissed researchers advocating for scientific freedom: ‘Return the Statue of Liberty to us.’ We bestowed it upon you as a present, yet it seems you hold it in contempt. Therefore, it would be better suited here at home.”
The European Union has a common enemy—Donald Trump—who they will blame for all of their woes. “Look, let’s be honest, the European Union was formed in order to screw the United States,” Donald Trump once said. Macron has had it out for Trump since his first presidency. He would like to transform France into the EU’s primary defense system with its nuclear capabilities now that the US is no longer leading this proxy war.
Perhaps Macron would reconsider his position if Trump agreed to extradite his number one American foe—Candace Owens.
Posted originally on Mar 17, 2025 by Martin Armstrong
Canadians are outraged at US President Donald Trump’s repeated threats to annex Canada. Canadian consumers began boycotting American products and are now boycotting America in general as tourism sank by nearly a quarter this February. Statistics Canada reported a 23% decline in trips via car from the US this February, marking the second consecutive monthly decline, while trips to the US by air declined 2.4%.
Based on personal conversations with Canadian friends, I do not believe this decline is simply correlated with the falling Canadian dollar or unfavorable exchange rate. The US was the top travel destination for Canadian tourists, and many state and local economies depend on those tourism dollars. Canadian license tags nearly equate to US tags in the spring and summer months down here in Florida. Yet, Canadians are genuinely outraged by Trump’s comments on their nation becoming a US state and want to boycott the US and anything manufactured here. I have even heard of companies canceling conferences in the US due to tensions.
Hotel reservations near the Canadian border have seen notable decreases as well. Niagara Falls, New York, reported a 8.1% decline in Saturday night bookings and Bellingham, Washinton, recently saw a 10.8% dip. Canadian travel agency Flight Centre rang the alarm that booking to the US in February plummeted an alarming 40% YoY.
There were over 20.4 million visits to the US from Canada in 2024, aiding in $20.5 billion in spending. The US Travel Association believes a 10% decline in Canadian tourism could shed $2.1 billion from the US economy and cost up to 14,000 jobs. The association noted that if the current trend continues, the US economy will lose at least $4 billion in tourism. Tourism states like Florida, New York, Nevada, Texas, and California will experience the worst repercussions of this travel boycott.
Canada is a sovereign nation, and the people wish to keep it that way. We had an excellent relationship with our neighbors to the north despite political warfare. Now, it seems as if anti-American sentiments are growing across Canada since President Trump has been keen on potentially annexing it.
For our Canadian readers— as you know with Trudeau and now Carney, our leaders do not always speak on behalf of those they claim to represent. Americans have no desire to annex Canada. In fact, the majority on both sides of the political spectrum thought Trump was simply mocking Trudeau when he proposed making Canada a state. The majority of Americans respect Canada’s sovereignty and wish we could lay this topic to rest already.
Posted originally on Mar 17, 2025 by Martin Armstrong
American households have been unable to pay off their debts. The Federal Reserve Bank of New York recently reported that household debt has reached a new all-time high at$18.04 TRILLION.
Americans acquired an additional $93 billion in outstanding payments during Q4 of 2024, with half of this debt finding its way onto high interest credit cards. Credit card debt has also reached a record high at $1.21 trillion. I reported in January that credit card defaults his a 14-year high after skyrocketing by 50% in a one-year period.
Donald Trump said during his campaign that he would like to cap credit card interest fees at 10%, perhaps for a temporary period. There are now bipartisan calls for companies to lower fees, with Congresswomen like AOC and Anna Paulina Luna both championing a 10% credit card cap.
Prior to the pandemic, Americans paid $120 billion annually in credit card interest fees from 2018 to 2020, amounting to $1,000 annually per household. In 2022, consumers were paying $105 billion in interest as it has become the main cost behind having a credit card. Rates on credit cards have doubled in a mere decade from 12.9% in 2013 to 22.8% in 2023.
The Federal Reserve Bank of New York’s February 2025 Survey of Consumer Expectations also found that Americans are highly concerned about missing payments, falling into delinquency, or losing their livelihoods. Consumers foresee inflation spreading across the board. In February 2026, the general public believes gas will rise by 3.7%, food by 5.1%, rentals by 6.7%, and medical costs by 7.2%.
Then, around 14.6% of Americans said they believed they would miss a minimum debt payment over the next three months. Americans have not expressed this much concern about missing payments since the early pandemic days of April 2020, when the mainstream media insisted the world was coming to an end.
Aggregate delinquency rates rose 0.1% over a one-quarter period. Mortgage balances increased by $11 billion, hitting $12.6 trillion by December 2024. When choosing between home or auto payments, consumers are prioritizing shelter. Auto loan balances also experienced an $11 billion increase, rising to $1.66 trillion in Q4 2024, but serious delinquencies on auto payments have risen substantially.
Student loan balances increased by $9 billion, and now sit at $1.62 trillion. Students who once thought their loan debt would be forgiven have been notified that their future social security payments will be garnished by the government if they fail to pay.
Most households are a few missed payments away from financial ruin. In fact, 47%, nearly half, of American households currently live paycheck to paycheck. Americans are in an extremely delicate financial situation right now, and this looming debt crisis will not disappear.
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