from King World News
Gold had a historic upside breakout many weeks ago, but now silver just had its historic upside breakout as well. So the party is just getting started in the metals markets. Plus look at the shocking US interest payments on their growing debt.
Gold & Silver’s Historic Breakouts
May 13 (King World News) – Graddhy out of Sweden: Been saying for 18 weeks that gold has a quarterly breakout.
Now also silver has a quarterly breakout.
by Michael Snyder
The Economic Collapse Blog
You can get a really good idea how the U.S. economy is doing by watching restaurants in your area. When the economy is booming, restaurant parking lots are full and chains are feverishly establishing new locations. But when the economy is struggling, restaurants get a lot less traffic and poor performing locations get shut down. Sadly, in 2024 it appears that a “restaurant apocalypse” has started to sweep across America. Most people have very little discretionary income to spend as a result of our cost of living crisis, and that is particularly true for our young adults. Americans under the age of 40 love to eat out, but these days most of them are experiencing financial stress, and this is having an enormous impact on the restaurant industry.
In 2023, visits to sit-down restaurants dropped by about five percent compared to 2022…
from Kerry Lutz's Financial Survival Network
Kerry and Andrew Einhorn of LevelFields discussed the impact of AI on investment practices, highlighting the system’s ability to track and analyze events from thousands of documents per minute to provide forecasts and alerts. The conversation also covers the system’s insights on Tesla and the broader perspective it provides for investors. Andrew emphasizes the importance of recognizing discrepancies in prices and earnings to identify opportunities in the market, using examples from the coal and fertilizer industries, defense contracting, and undervalued companies like Giga Cloud and Celsius. He provides an overview of the LevelFields platform, emphasizing its user-friendly approach to investing and the potential for short-term and long-term gains through different investment strategies.
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by Greg Hunter
USA Watchdog
Former Wall Street money manager Ed Dowd is a skillful financial analyst. Even though he has a wildly popular book on CV19 vax deaths and injuries called “Cause Unknown,” he is now turning his attention back to the economy. Dowd warns the economy can fall out of bed at any time. Dowd explains, “What’s coming up next is a credit cycle. We are going to see commercial real estate go into problem mode. There are a lot of loans that need to be rolled over in 2024 and 25. A lot of these properties are down 80% . . . . There is huge credit risk coming. The prediction of bank failures is accurate. We are going to see, over the next 12 to 24 months, banks go belly-up. Then, they will have to get merged with bigger banks.”
What happens to the Biden economy? Dowd says, “The economy is going to take a nosedive sometime in the next 12 months. The real economy is not doing well. . . . The only thing that has been holding up the GDP growth is government spending. We are spending $1 trillion every 100 days. That’s adding $1 trillion to the deficit. The only job creation is government jobs, and they don’t actually add to the economy. . . . Reports are coming out now that the low-income consumer is getting absolutely hammered. McDonald’s talked about it in their most recent earnings call. . . . So, low-income and the middle-class are getting squeezed while the rich continue to plug along.”
by Charles Hugh Smith
Of Two Minds
The net result is America’s working class is up against the wall, maxed out.
Let’s start by defining the working class in a meaningful way rather than by tossing around meaningless income metrics which implicitly suggest that exceeding some semi-arbitrary income bracket will magically lift a working class household into the middle class.
In the real world, in terms of class status it doesn’t matter whether the household income is $30,000 or $130,000; what matters is 1) ownership of assets that have bubbled higher in the Everything Bubble which then provide a buffer of wealth that can be tapped when misfortune strikes, and 2) a cost of living that is consistently and significantly lower than net income, enabling regular savings.
from Zero Hedge
Submitted by QTR’s Fringe Finance
This weekend I had the pleasure of sitting down with independent 2024 Presidential candidate Robert F. Kennedy, Jr. for an hourlong interview.
Our interview started with me asking Mr. Kennedy why, if you don’t follow the mainstream media narrative, you are automatically painted in a vile and unfavorable light. He told me: “I think a lot of it is driven by, or fortified at least, by financial interests. Upton Sinclair made this very, very useful statement that it’s almost impossible to persuade a man of a fact if the existence of that fact will diminish his salary.”
by Martin Armstrong
Armstrong Economics
Washington’s reckless spending comes with a cost to US taxpayers. While the fed may simply roll over their debt and issue new debt to pay off the old, the American public is on the hook for immediate liquidity every single year via taxation. The misconception that Biden would only target the wealthy needs to be dispelled as a recent study reveals that 63% of new audits targeted Americans earning under $200,000.
Now, Biden initially claimed he would send his troop of IRS agents to target Americans earning double that amount. The billionaire class was not targeted, as 80% of all audits were on filers earning under $1 million. Yes, there are far more taxpayers in the middle and lower brackets. However, the IRS merely claimed they would prioritize hunting higher earners; they never explicitly said they wouldn’t come after ALL Americans.
by Wolf Richter
Wolf Street
Second-lien mortgages to the rescue of the battered mortgage industry.
The problem for Wall Street is that homeowners are said to sit on $11 trillion in “tappable” home equity after years of surging home prices.
The actual home equity won’t be known until the homeowner sells the home and pays off the mortgage with the proceeds; the cash that’s left over is the actual home equity. In that situation, the homeowner cashed out and can now use the cash for other things, bet it on cryptos to become a billionaire overnight, buy Treasury bills to earn 5.3% in interest, fund their own startup, or blow it in some other way.
Likening drug users to people who are “mentally ill and dangerous,” the ruling says barring them from owning firearms is not unconstitutional on its face.
by Jacob Sullum
Reason.com
Last Thursday, a federal judge in Delaware rejected Hunter Biden’s Second Amendment challenge to the three gun charges he faces for buying a revolver in October 2018, when he was a crack cocaine user. In a 10-page order, U.S. District Marylellen Noreika concludes that 18 USC 922(g)(3), which makes it a felony for an “unlawful user” of a “controlled substance” to receive or possess firearms, is not unconstitutional on its face, meaning there are at least some cases in which the provision can be enforced without violating the right to keep and bear arms.
Noreika’s decision does not end a constitutional dispute that pits Biden against his own father, who has steadfastly defended a policy that could send his son to prison. That policy denies Second Amendment rights to millions of Americans with no history of violence, including cannabis consumers, whether or not they live in states that have legalized marijuana.
by Andrea Widburg
American Thinker
Alvin Bragg’s case against Donald Trump alleges that Trump committed multiple felonies of unknown nature by writing checks to his attorney in a way that did not violate federal campaign laws. Although the attorney had used that money to cut a check to porn actress Stormy Daniels, anything Daniels had to say about an alleged tryst with Trump is irrelevant to these ludicrous charges. But Bragg and Judge Merchan couldn’t resist trying to embarrass Trump, so there she was. That may have been a mistake because Daniels’ testimony was a disaster…and Bill Maher has now unearthed an old Daniels interview contradicting a major part of her testimony.
One of Daniels’s main contentions on the stand was that she felt used and abused by Trump. How dare a man assume that, just because she had sex for money and was an exhibitionist and allegedly went up alone to a billionaire’s hotel room and didn’t object to his advances, she wanted to have sex. She was the victim here. She was traumatized.
by Ben Bartee
The Daily Bell
Originally published via Armageddon Prose:
COVID Propaganda Roundup: The latest updates on the “new normal” – chronicling the lies, distortions, and abuses by the ruling class.
Leaked internal Pfizer email confirms separate vaxx batches for employees
Last year, I reported here that Pfizer executives were forced to admit under penalty of perjury in front of the Australian Senate that company employees received “specially imported” vaxx doses, bypassing the regulatory inspection process — even though there was no shortage of general vaxx supply at the time and no other legitimate reason for the secretive carve-out.
by Michael Snyder
The Economic Collapse Blog
No matter how hard they work, millions of Gen Z Americans are just barely scraping by month after month, and many of them are seriously pissed off about it. In fact, videos of Gen Z Americans ranting about the economy on TikTok have been racking up millions of views. Many of those that are ranting about the economy absolutely hate the fact that no matter how much they try they can never seem to get ahead. Others just keep getting deeper and deeper in debt because they can never seem to make enough money to pay all the bills. And do you know who they are blaming for the pain that they are experiencing? They are blaming those that belong to previous generations for wrecking the economy, and they are right. We were handed the keys to the greatest economic machine in the history of the world, and for decades our leaders have been systematically destroying it. The bright future that future generations of Americans were supposed to have has been wiped out, and Gen Z Americans are starting to realize that even more pain and suffering are ahead.
from King World News
Today Michael Oliver, the man who is well known for his deadly accurate forecasts on stocks, bonds, and major markets, told King World News that the coming gold, silver and miner mania will be epic and all have entered a massive acceleration phase that will light people’s hair on fire. This is one of Michael Oliver’s most important interviews ever.
May 11 (King World News) – Michael Oliver, Founder of MSA Research: “We’ve already had our 2008 collapse where gold matched the S&P on the downside for one brief month. We had another one in late 2022. Gold dropped 20% and took out a whole bunch of price lows on a chart that any idiot could see. It looked to many like it was all over for gold and we were going into a bear. Gold then immediately aborted and went back to its highs. But that was the cleansing break.
by Dr. Paul Craig Roberts
PaulCraigRoberts.org
The Epoch Times has acquired official documents that reveal that the Centers for Disease Control (CDC) in 2021 had definite evidence that Covid-19 mRNA “vaccines” caused multiple deaths. Despite the conclusive evidence in CDC’s hands, the “health agency” continued to lie for the next two years that there were no adverse effects from the emergency use “vaccines” that were for tens of millions of Americans illegally and unconstitutionally mandated as a condition of employment. https://www.theepochtimes.com/epochtv/robert-malone…
We were told by the CDC, FDA, NIH, the monster Tony Fauci, the White House Fool, the presstitutes, corrupt medical boards and university administrators, and our doctors that the “vaccine” was effective and safe. We were told this blatant lie, which every scrap of evidence refuted, over and over and over. And a trusting population trusted the “authorities” and paid for it in droves with their lives and their health. Many independent experts, scientists not dependent on federal or Big Pharma money, believe that the deaths and infertility from the “vaccines” are only beginning.
by Greg Hunter
USA Watchdog
A CV19 vax injury that will help wake up the world has been reported. Former CNN News anchor Chris Cuomo is on the airwaves telling the story of his CV19 vaccine injury. He says he has “inflammation” and “brain fog.” Cuomo reveals he is being treated on a regular basis with Ivermectin. Good move, Chris. Sure, Cuomo is eating crow now after he “shamed” people on air who were using Ivermectin to treat Covid a few years ago. I don’t want anybody to be sick from this evil vax or allow it to cut decades off their lives. This is more about waking people up to the fact they need treatment, like Cuomo is getting. Millions of the CV19 vaxed are NOT getting treatment, and Cuomo can shine a light on how they need to be treated with things like Ivermectin to fight the negative effects of the CV19 bioweapon vax. Ivermectin is a cheap, safe and effective “miracle” drug, and more people need to be treated.
All the lawfare (like warfare) cases against Donald Trump seem to be falling apart at the same time. Now, there is evidence from Missouri Attorney General Andrew Bailey all the cases against President Trump may have been conceived around the same time by the Biden Administration. AG Bailey says he is demanding the DOJ turn over all communications of the illicit prosecutions of President Trump. Bailey says he has evidence that all the prosecutions against Trump were coordinated by President Biden’s minions. Legendary fight promoter Don King says, “We must elect Trump in 2024 to save ourselves.” King might get his wish because it looks like the Biden lawfare cases are not going to stop Trump.
by Alasdair MacLeod
Gold Money
Gold and silver had a better week, with gold up $67 from last Friday’s close at $2369 in European trading this morning, and silver at $28.60 up $2.10 over the same time frame. There was a little more volume in the Comex gold contract, but silver’s was vanishingly low, as shown below.
[…] Most of the action was yesterday (Thursday) when a poor US jobless claims number sent gold and silver higher, and bond yields lower. This was taken by commentators to imply a greater chance of an early reduction in the Fed Funds Rate, which explains why bond yields declined. Furthermore, a successful 30-year US Treasury bond auction allayed fears of funding difficulties.
This is probably more noise in the background rather than meaningful information because jobless claims are notoriously misleading. A better clue as to what is happening is shown in the lower of the two charts above, for silver’s daily Comex volume. The clear explanation for silver’s performance is it is a bear squeeze on the shorts, rather than bullish buying.