The Dow's next major test is the 40,000 level: Martin Armstrong
North American equity markets have been making new record highs to start the decade, but at least one modeller has loftier heights on his mind for the years ahead. For more on this, BNN Bloomberg spoke with Martin Armstrong of Armstrong Economics... https://www.youtube.com/watch?v=7wJ_BTOLxxo
A year ago, financial writer and precious metals expert Craig Hemke predicted the Fed would be forced to return to money printing. He was right. Hemke also predicted this would be bullish for gold and silver prices. He was right again. Now, Hemke says, unlike the other times, this time, the Fed will not be able to stop the money printing. Hemke explains, “You’ve got to keep printing cash to service all this accumulated trillions and trillions of dollars of debt. You can’t grow your way out of it. You have to print your way out of it. They can’t let the stock market go down. I think it’s a $20 trillion total market cap. If it went down by 25%, it would be $15 trillion. That would be $5 trillion that would just go poof, and now, your liquidity crisis is that much worse. . . . They can’t afford to let it go down because it will exacerbate the liquidity crisis.”
On the China Coronavirus, Hemke says, “It’s bad enough with all the people dying and everything, but this didn’t just get fixed. It didn’t just get cured. There are still Chinese cities that are quarantined. Flights to Hong Kong, even now, are being suspended. All of this is going to impact the global economy . . . and it’s going to make the central banks print even more cash. . . . They cannot afford to let it (stock market and economy) go down.” Hemke also says, “The Fed is monetizing the debt as we speak, and they will continue to do so. That cash goes into the stock market and makes it keep going up, which they’ve got to have. What people need to understand is this is madness, and it’s only going to get worse, and that is also why you have to own gold and silver.” Hemke forecasted months ago if gold would hold above $1,550 per ounce, that would be the support the yellow metal would need to launch higher. Hemke says, “The next target will become $1,650, and I think by the end of the year, we will see $1,750 for another pretty solid year. Silver will be $20 to $22 per ounce (by the end of the year). If people really want to make some cash . . . the real opportunity is in the mining shares. . . . Total global asset allocation to the precious metals sector is less than 1%. If it goes to 2%, you have twice as much cash chasing a relatively finite amount of goods. . . . Twice the cash chasing the same amount of goods means higher prices. It’s not that complicated.” https://www.youtube.com/watch?time_continue=1&v=vv1eH4RBZgg&feature=emb_logo
Putin Sends Russian Air Force to Evacuate Hundreds of Citizens from China
As the list of countries both shutting their borders to China and canceling major carrier flights in and out of the country grows, Russia is set to take drastic action by airlifting its nationals out of the country via Air Force planes. "The evacuation of Russian nationals from China on the Aerospace Force’s aircraft is scheduled for February 3-4, Kremlin Spokesman Dmitry Peskov said on Saturday," reports TASS news agency, which further indicated the evacuation order came directly from President Putin. https://www.youtube.com/watch?time_continue=1&v=tFkgh4OzpbU&feature=emb_logo
Several Chinese people voiced their concern over the fog which has engulfed Wuhan. It’s fuelled fears the death toll inside coronavirus-hit China is higher than what has been reported.
Coronavirus Destroying China’s Global Supply Chains
The coronavirus outbreak in China is disrupting global supply chains because no one will travel for business, according to China Law Blog, a website that caters to elite attorneys involved in cross-border business and run by international law firm Harris Bricken. According to China Law Blog editor Dan Harris, “the coronavirus is impacting pretty much everyone in China.” Getting to international airports is difficult and whole cities in China are closed off. Applying for visas to other countries has slowed to a crawl; while expatriates and Chinese citizens are afraid to leave China because they may be denied entry into the country of destination and may not be able to return to their place of residence... https://www.theepochtimes.com/coronavirus-destroying-china-global-supply-chains_3218605.html
Coronavirus: What to Make of Discrepancies in Official Statistics
...One of the odd aspects of this outbreak is the discrepancy between the infection and fatality rates seen outside of mainland China and the rates seen within mainland China. One study, which looked at the percent of people leaving China who were found to be infected in other countries, concluded that there were perhaps 100,000 people in mainland China who were already infected. Furthermore, the fatality rate inside China remains above 2% while the fatality rate outside China is ‘just’ 0.9% (two out of 210 cases).
These discrepancies have led to widespread suspicions that the Chinese authorities are intentionally under-reporting the infection rate and possibly also the fatality rate. While this is entirely possible (we have been routinecritics of Chinese government statistics and policies), all reporting suggests that Chinese medical authorities simply don’t have sufficient test kits to test everyone that presents with flu/pneumonia like symptoms.
What we are witnessing in east Africa and across much of the Middle East right now is hard to believe. 360 billion locusts are eating everything in sight, and UN officials are warning that this plague of “Biblical proportions” could get many times worse over the next several months.
Pope Francis has been on quite the end times tear lately, and showing no signs of stopping or even slowing down as he continues to aggravate hardline, conservative Catholics with his ever more liberal practices and policies. The pope, having firmly established the main platform of the coming One World Religion of Chrislam, now seeks to pull homosexuals into his end times tent as well. When all is said and done he will have everyone except the Christians.
State Rep. Fred Deutsch introduced the Vulnerable Child Protection Act, or House Bill 1057, which prohibits the medical community from prescribing powerful drugs, or performing surgery, on transgender youths 16 or younger.