Okay, everybody. Here we go. It’s me, Gregory Mannarino, Friday, August 2nd, 2024. Pre-market report, people. I want to show you something. I want you to see this. This is the U.S. 10-year yield from this morning. Can you visualize that? 3.8… 3.83 with the U.S. dollar on a relative straight basis falling here. I’ve been in this business for quite a long time. I have never seen before this kind of action in the debt market. It’s an incredible thing to see the 10-year yield falling at such an incredible pace. This is an enormous amount of debt buying.

I’m going to give you one guess as to who is doing this. I think we already know. Honestly, maybe one other time in history, we’ve seen something like this. And that was during the so-called financial crisis, the stock market meltdown crash, which was precipitated by what was going to be played out as a credit freeze, a locking up of the system, capital injections into it. People, let me tell you something else in case you don’t know. This is a big tell as to what’s going on here. So Buffett, Warren Buffett, whatever he is, he’s another creature here, continues to dump billions in shares of Bank of America.

Now, it’s interesting. I want you to think about this. You and I, for a couple of years, have been pointing specifically towards Bank of America. Look, this institution, in my opinion, is being set up as the fall guy for what we are about to face. Now, let’s talk more about that before we move forward over here. Okay. You and I, we’ve been so far light years ahead of the curve on this. Before anybody else, we started to talk about the underlying issues. I mean, this is just scratching the surface. No loans, no deposits, no deals.

These three factors are not getting really any attention here on the mainstream media. People are being strangled to death here. And they’re being told to continue to borrow and promises of lower rates moving forward with regard to whoever is selected as the next figurehead of the United States. Look, this thing is so diseased, so perverted, and so twisted. So what we understand here, people, is the banking system, first of all, is absolutely bankrupt. The system itself, you know this if you’ve been with me for any length of time. This, imagine, just for a second in the abstract, let’s talk about this in the abstract for a moment.

Imagine a system that must operate and can only operate in a perpetual vacuum, meaning it must constantly create more and more debt. We must pull more debt into the system just to allow it to function. That’s the nature of the financial situation that we are in. Now, with regard to these banks and Buffett pulling billions out of this one institution, Bank of America, the one that you and I have been pointing our fingers at for years, there’s something going on here, and it’s a setup. Let me explain this to you in maybe another way.

You see, someone like this, Buffett, pulling all of this cash out of Bank of America, when the eventual meltdown, when we’re allowed to know, we’re not being allowed to know honestly what’s happening here, the fact that the system is bankrupt, the system is corrupted, the system operates in a perpetual black hole. They should tell you so much here, and the fact that these smaller and regional institutions, yes, they are getting some attention on the mainstream media outlets, but the fact of the matter is we’re not allowed to know what’s on their balance sheets.

What we do know is these institutions, and it’s not just the smaller institutions, people, it’s the megabanks. They have bad debt on their balance sheets like you can’t believe, and they’re seeing debt defaults skyrocket. You’re not allowed to know any of this stuff here. You’re just not allowed to know. But with regard to the larger institutions, they do have a main line to the Federal Reserve. Why is it, why do you think, okay, that Buffett is dumping, continues to dump over the last 12 days, billions and billions and billions and billions of shares in Bank of America? What does he know that you’re not supposed to know? He’s an extreme insider of the highest order.

You and I, again, need to think ahead a little bit. Look, we’re not like a child that lives in the moment or a dog or an animal that lives in the moment. You and I must stay ahead of the curve. I have been the biggest advocate, I think, anywhere, telling people to get your cash out of these institutions. Keep only what you need in them to transact into their system. You understand? Their system is corrupt. Their system is bankrupt, more than bankrupt. It operates in a perpetual expanding vacuum, a black hole. You want to participate in that or do you want to find somewhere else to put your cash people, and you know exactly what I am talking about.

At least I hope you do. You must gain exposure to commodities here. People say all the time, especially the newbies here, Hey Greg, you know all you talk about is doom and gloom. People can’t handle the truth. They can’t accept the fact that the system is bankrupt, that the system is corrupt. The system is diseased. And people are being led to the slaughter. But people like Buffett know they know what’s going on. But you’re not supposed to know any of it. Oh no. You’re supposed to accept the fact that everything is perfect. What did our lovely illustrious president say? Oh, we’re the envy of the world.

Our economy is so freaking strong. It’s so freaking strong that we got an abysmal jobs report this morning with the unemployment rate climbing here. And these are the numbers they’re allowing us to know. And again, this phenomenon that we’re witnessing with regard to the debt market, this extreme drop in the 10-year yield. And we’re not done. We are not done seeing this move. Look, you and I called this many, many months ago. We were going to see a rally in the debt market. And we’re just in the beginning stages of this rally in the debt market.

The debt market rallies as cash goes into the debt market and bond yields fall. You understand? Okay. It’s inverse for the most part, as you would imagine how the equity market or the stock market works. You understand? There’s something so dark here, people. And again, you’re not being allowed to know what’s happening. But you know, because you follow this blog. So look, I’m going to tell you again, don’t keep a single dime. Not one dime in the banking system or the financial system right now that you don’t need to have there. You understand? The banks are going down.

The cascade of events that we are going to see not too far off where a domino effect is going to hit the smaller institutions. Get your cash out of them. The smaller institutions, number one. Again, they do not have the lifeline that the mega banks have. Bank of America, avoid it like the plague because Buffett knows something is going on here. We need to mimic what the super elite does. And that’s exactly what we’re doing. We’re becoming our own central banks, period. Betting against the debt, period. How do you do that? By holding hard assets, people.

Real money. These things, gold and silver, are real money. Despite what you might hear come out of the mouth of former Fed chair Ben Bernanke that central banks only hold gold for tradition. It’s traditional. So they hold gold. People, in your wildest dreams, you could make up a scenario like we’re in right now. So if you haven’t yet, you could choose to listen to me or not and that’s fine, okay? But if this makes sense to you, what I’m saying, start to get your cash out of these institutions, the smaller institutions.

Put it into a credit union. There is less risk there. Not no risk, okay? Less risk because the credit unions do not operate for profit. They don’t take the risk that commercial banks do. They do not have derivative exposure. You understand? That’s the real dark horse underlying all of this here. And we’re going to see things moving forward. Again, it’s the commercial real estate issue, which is getting a little bit of attention. You and I have been touching on it here and there. The bad debt on these balance sheets of these institutions, the mega banks are in the same boat.

But because these institutions have a lifeline to the Fed and what they’re looking to do here, I mean, let me know if this makes sense to you. I believe with all I got and all the stuff that I study and all the stuff that I look at, and this is all I do, that the smaller institutions are being set up to fail. They’re being set up to fail so the larger institutions could buy the good assets on the balance sheets. Look, not all the assets that are held by these institutions are bad.

You and I, just like last time, if you recall, we had to absorb, you and me were forced to buy the crap on the balance sheets of these institutions. Meanwhile, G.P. Morgan got to buy all the good assets. All the good assets, and we got stuck with the dog S-H-I-T. You understand? That’s what’s going to happen again here. The smaller banks here, they’re going to be allowed to fail so the larger banks can pick up the good assets for pennies on the dollar, and you and I are going to get stuck with all the bad debt.

And our loving, caring representatives are going to make sure that happens. Oh, absolutely they are, just like last time. History may not exactly repeat itself, but it certainly does rhyme. So anyway, look, I want you guys and girls to really consider what I’m saying. And again, I know I’ve said this many, many times, but I’m telling you again, get your cash out. Get your cash out of the system and put it into real things right here. You need to gain exposure to commodities here. Let me say something else. The phenomenon that we are seeing right now, this massive drop in bond yields here.

This is also part of what’s happening. Look at how this is affecting the MMRI, Manarito Market Risk Indicator. It’s literally broken through the lower, this trend line has not been broken. Are we going back up or are we starting another leg down? We’re going to need to see. The more that this drops, this is again a visual as to what’s happening in the debt market, including the dollar as a unit of debt here. This is epic. This is absolutely freaking epic. The lower this goes, the more opportunity, in my opinion, there is to load up on commodities here, cryptocurrencies as well, people, and the stock market.

Again, last week, last Tuesday, right here, you and me, we said, we explained, I explained that we’re entering a period of high volatility where you’re going to see extreme moves in this market, up and down, and up and down, and yesterday got everybody rattled. Not you. Not if you’re one of my lines. You’re laughing. You’re laughing. And as I said yesterday, this may not be over. We could certainly see another four, five hundred point drop here or a one percent drop in the Dow or whatever it might be. But as long as this is going on here, this mechanism, these asset purchases by the Fed, they’re buying all the debt, they’re buying it all.

What’s the goal of a central bank? Every central bank has but one goal. If you’re new here, I’m going to lay you in on a little secret here, to be the lender and buyer of last resort, to have a figurehead sitting behind the resolute desk to tell people, go out there and borrow. I’m going to make it easy for you. I am going to make it easy for you. I’m promising you that you’re going to get the ability to borrow at a lower rate. They’re both saying the same thing. Kamala, Trump, and how does this help you? It makes you more of a debt slave.

It empowers the central bank and we all lose. We do not need this freak or that freak to tell us that they’re going to promise us to lower rates, which means obviously a weaker dollar, a loss of purchasing power. They need to tell us the polar opposite, but neither one is going to do it because neither one has the guts to tell you that. They’re going to lie to you and make you think that they walk on water and they got your back. Nothing could possibly be further from the truth. Anyway, so we’re building up people to something huge, absolutely tremendous, and Buffett seems to know what’s going on and so do you.

So what are you going to do about it? You’re going to go sit in some corner and suck your thumb off or are you going to take action? The choice is yours. The choice is yours. The opportunity here is everywhere. This is not a gloom and doom channel. People that say that kind of stuff, they just can’t handle the truth. When the truth hits people, sometimes it’s a shock and they just can’t handle it. Greg is an idiot. Greg is a doomer, a gloomer. People, look, this is reality here. I think we’ve laid this out.

This is not a booming economy. This is an economy in free fall. This is a world economy going down the toilet here as central banks solidify their power on all of us. This one world government, which we’ve been warned about forever, well, it’s the central banks. Why do you think, again, they have these institutions in every continent around the world? It’s their bases. It’s a war, and they are clearly winning. They need a general here in the United States. What have I told you a million times? Whoever is selected as president should have a traitor tattooed across their forehead.

We’re adhering it. We promise lower rates. We promise a weaker dollar. Does that really help you or does it help them? It’s pretty obvious, man. It’s pretty obvious. All right, look, pretty much, people, that’s where we are. Here’s just one more thing here. This is Reuters from this morning. Size of looming Fed rate cuts may hinge on job market. Let me explain this to you. The Fed wants to make big cuts. Why is it that the Federal Reserve here, let’s think about this for a moment. The last time we’ve seen anything like this before with regard to the debt market and quantitative easing, because that’s what this is, okay, was during the financial meltdown of last time.

Well, the stock market looks pretty good despite the sell-off that we saw yesterday. We might have another one today who freaking knows. This volatile period is going to last throughout this entire month. So you just get used to it, embrace it. My lions are loving this because they know what to do. So simple. Gain exposure to commodities on a grand scale. Buy the market. Buy the dips in the market. The market is going to be on sale a lot of times. Every dip in this market, as this goes on, as this drops, okay, the more opportunity we have to buy the market.

The illusion of the market will be maintained, in my view. We have the selection period coming up. You all know that period, people. People need to be made to feel comfortable. My investment plan. Oh, look at me. I am rich on paper. I’m a millionaire on paper. My home value is skyrocketing. I’m even richer than I even thought I was, until it all evaporates. And then they wonder, what happened? Make it. People, make it up. Look, this guy here loves you from the heart, and I want to hear from you. Greg, you got it right.

Greg, you are so wrong. Tell me where I got it wrong. Believe it or not, I may be 59 years old, but I am not too old to learn a new trick. School me. Tell me what I’m missing here, all right? All right, people, look, I love all of you. I mean that from the heart. We got each other, and that’s just so important. All right, so with that said, please share the video. Please get it out there. You got something out of this? You like the video? It’s important? Give me a thumbs up.

Give the video a thumbs up. I appreciate it. Man, this is our thing. And I want all of you to be an integral part of this pride. My pride of lions. And I am so happy to be the daddy here, honestly. I can’t tell you. And again, together, all I want to do for all of us here, we, is make a positive difference in the world, and I think we’re doing that. Before I go off the deep end, I will see all of you later. 4.05 p.m. Eastern for the livestream. Please show up there.

We’re going to have a lot to talk about. Until we meet again, people, please, take care of yourselves and each other. [tr:trw].

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