Pastor Dana Coverstone of Living Word Ministries Assemblies of God in Burkesville, KY shares three prophetic dreams he has had and their relationship to current as well as near future world events.
Legendary financial and geopolitical cycle analyst Martin Armstrong says the President has the power to reopen the entire country. Armstrong explains, “He doesn’t want to use it, but he actually has the power to open up the entire country. I wrote a piece on this, and it’s called the Commerce Clause (in the U.S. Constitution) which governs. They (the governors) have no legal authority to shut down the economy—period. They cannot do that. The Commerce Clause prohibits interference with interstate commerce—period. . . . Increasing the money supply, which is what the Fed is doing right now, is not going to save the day because the amount of money lost on a leverage basis is 20 to 30 times that. It’s like throwing a bucket of water into the wind, it’s going to come right back in their face. They can’t stimulate enough. It’s impossible to overcome this. . . . The only way to overcome this is to open up the economy. We have to get the productive capacity back up, which is what wealth is and you are destroying that. 70% of employment is with small business.”
Jim Willie returns to SGT Report to discuss the very real possibility of an economic collapse brought on by the event none of us saw coming just two months ago.
Thanks for tuning in friends. Buckle up, the week ahead looks like it will be very bad for the markets – and if this thing isn’t brought to a swift end very soon, an economic collapse in 2020 looks to be a very real possibility.
How bad economically will the Covid19 virus crisis get? Martenson points out, “One in eight companies are so-called zombie companies.” Meaning, they have to keep borrowing cheap money to stay in business. Martenson says governments are hooked on huge deficits and cheap money too, and now the China virus chaos hits an already over-leveraged economy, and more massive money printing is needed to keep debt from defaulting. Martenson says, “This is taking the world’s most important manufacturing center and shutting it down all at once. That’s like throwing a car into reverse at 60 miles per hour on the highway. . . . Supply chain disruptions are going to be legendary. . . . This isn’t like one company having trouble like AIG where Hank Paulson has to ride to the rescue with $700 billion of fresh U.S. taxpayer money. We are talking about a system of tens of thousands of interlocking components that are frozen, and nobody quite knows how to unravel all of that. I think that is well beyond the capability of the Federal Reserve to throw more QE money into the market and goose stocks a little longer. This is the real deal. This isn’t a dress rehearsal. It is happening. People need to be able to make sense of this, and in the absence of being able to make sense of all of this, having some gold makes a lot of sense. I think that’s why we are seeing it pop here.”
Martenson likes physical silver, too.
Join Greg Hunter as he goes One-on-One with Chris Martenson, co-founder of PeakProsperity.com.
Dem Civil War, Deep State Reveals All, Economic China Virus Update The Democrat Party looks like it is having an all-out war—with itself. This Democrat civil war is unlike any in modern history. You have a party that has turned communist/socialist fighting with elite members such as billionaire Michael Bloomberg. This battle for the party of theft and death is just beginning and won’t end well. The Democrats and Deep State overlords are getting desperate. They are revealing themselves like never before. It was not that long ago that if you mentioned the so-called Deep State, people would think you were a tin foil hat wearing conspiracy nut. Not any longer. It seems all of the nuts are being revealed in the Deep State. This includes revelations of human trafficking that, according to President Trump, is 70% women and children. Thank you Prince Andrew, Jeffery Epstein for all the stories about global human trafficking and sex slaves getting out to the general public. The China virus news seems it is going from bad to worse every week. No one believes the official stories coming out of China. China’s domestic production of goods has ground to a halt, and now Wall Street is waking up to the fact the money printing at central banks is NOT going to fix the coming global economic disaster hatched in communist China. Join Greg Hunter of USAWatchdog.com as he talks about these stories and more in the Weekly News Wrap-Up.
In today’s video, Christopher Greene of AMTV reports on Bank of America Outage and Chinese Bank Runs breaking Worldwide.
Who really controls the dollar?
The dollar has been dying since 2015.
Gold and silver will soon be unattainable.
“The smoke is coming from the REPO market because it’s concealing infinite QE. They have to go to infinite QE or the system breaks,” so says Jim Willie who also warns that the Dutch Central Banks says GOLD will be the only fix after the collapse. Join us for this gripping look at what’s really going on behind the scenes.
Are we about to see U.S. financial markets go crazy? That is what Goldman Sachs seems to think, and it certainly wouldn’t be the first time that great financial chaos has been unleashed during the month of October. When the stock market crashed in October 1929, it started the worst economic depression that we have ever witnessed. In October 1987, the largest single day percentage decline in U.S. stock market history rocked the entire planet. And the nightmarish events of October 2008 set the stage for a “Great Recession” that we still haven’t fully recovered from. So could it be possible that something similar may happen in October 2019?
For investors taking a breather from the chaos in August, buckle up as the market is about to go crazy again, Goldman Sachs warned.
Wall Street is now inches away from reclaiming its record highs, but a rockier ride could be around the corner as stock volatility has been 25% higher in October on average since 1928, according to Goldman. Big price swings have been seen in each major stock benchmark and sector in October over the past 30 years, with technology and health care being the most volatile groups, Goldman said.
Goldman derivatives strategist John Marshall is the man behind this new warning, and he believes that there are some fundamental reasons why the month of October is often so volatile…
“We believe high October volatility is more than just a coincidence,” John Marshall, equity derivatives strategist at Goldman, said in a note Friday. “We believe it is a critical period for many investors and companies that manage performance to calendar year-end.”
And even though October hasn’t arrived yet, we are already starting to see some things that we haven’t witnessed since the last financial crisis.
For example, the Federal Reserve had not intervened in the repo market since 2008, but this week the liquidity crunch was so bad that the Fed felt forced to conduct emergency overnight repurchase agreement operations on Tuesday, Wednesday, Thursday and Friday.
And then on Friday the Fed announced that it will continue to conduct emergency interventions “on a daily basis for the next three weeks”…
The New York Federal Reserve Bank said Friday it will inject billions into the US financial plumbing on a daily basis for the next three weeks in an effort to prevent a spike in short-term interest rates.
The Fed will offer up to $75 billion a day in repurchase agreements — exchanging secure assets for cash for very short periods — through October 10, it said in a statement.
In addition, it will offer three 14-day “repo” operations of at least $30 billion each.
In essence, the “plumbing” of our financial system has gotten all jammed up, and calling out Roto-Rooter is simply not going to get the job done.
Of course Fed officials are trying to assure us that this is no big deal and that they have everything under control.
But if all this is no big deal, why haven’t they had to conduct such emergency interventions for the last 11 years?
And this comes at a time when the deterioration of the U.S. economy appears to be accelerating. In fact, on Friday St. Louis Fed President James Bullard publicly admitted that the U.S. manufacturing industry appears to already be in a recession…
The US manufacturing sector “already appears in recession” and overall economic growth is expected to slow “in the near horizon,” St. Louis Federal Reserve Bank president James Bullard said on Friday, explaining why he dissented at a recent Fed meeting and wanted a deeper, half-percentage-point rate cut.
That is a stunning admission, because normally Fed officials try very hard to maintain the narrative that everything is wonderful because they are doing such a great job of manipulating the economy.
Americans’ confidence in the economy has become less rosy this month as Gallup’s Economic Confidence Index fell to +17 from August’s +24 reading, marking the lowest level since the government shutdown ended in January.
At the same time, the public is evenly divided over the likelihood of a recession in the next year. The current expectation of a recession is nine points higher than it was in October 2007, just two months before the Great Recession began but slightly below a February 2001 reading, one month before that eight-month-long recession.
Every economic indicator that we have is telling us that big trouble is heading our way, but most Americans are partying instead of preparing.
U.S. financial markets have never been more primed for a crash than they are at this moment, and so many of the exact same patterns that we witnessed just prior to the last recession are happening again right now.
Over the past few months, my wife and I have felt a sense of urgency unlike anything that we have ever felt before. You may have noticed a difference in our tone and in the types of stories that we have been sharing. Everything that we have been doing has been leading up to this. The time of “the perfect storm” is here, and most Americans won’t understand what is happening.
The storm clouds are looming and disaster could strike at any time. This is one of the most critical times in the history of our nation, and most Americans are completely unprepared for what is going to happen next.