Okay, everybody. Here we go. It’s me, Gregory Mannarino, Wednesday, October 2nd, 2024, pre-market report. As usual, a lot of stuff to cover here. Let’s just start off with the debate last night here. It was exactly what you and I would have expected it to be. Another blame game, a clown show on an epic scale. We heard a lot of things. You know, it’s interesting. Not one question yet again, not one. With regard to Federal Reserve monetary policy, what the Fed is doing right now, why? Both of their bosses here, Kamala and Trump, are promising lower rates.

Of course, that means a weaker currency and higher inflation, but you’re not supposed to know this kind of stuff. But again, look, it was exactly what I would have expected it to be, and I’m sure you as well. Although it was much more civil than the one between Trump and Kamala here, but also there too. No mention whatsoever about monetary policy. No mention whatsoever about the promises of lower rates, and of course that again means a weaker currency. It’s insane to me how you can have a conversation, whether it’s Trump, Kamala, or Waltz, whatever his freaking name is, and Vance over there, about how they are planning to bring prices down.

No discussion whatsoever about how the Federal Reserve is responsible for monetary policy, therefore inflation, and it’s the weaker currency itself that is, of course, responsible for what we’re seeing here. In the last three presidents, Biden, Trump, and Obama here, none more so than these three guys, who have aligned themselves more tightly with the Federal Reserve than any of the three presidents going back in history as far as you want to go. When you hear a candidate, whoever it might be, talking about, oh, why eggs are X, $10, whatever it may be, $8 here, why gasoline is going on.

First of all, there’s a lot of factors here, but it’s all about the weaker currency, which they’re both promising us right now. Vance, Waltz, Kamala, Trump, okay. No discussion there. Why? Because they think you’re too stupid to know the truth here. When you hear, again, a candidate or whoever it might be talking about rising prices, why they are, and they, again, deflect at all away from the root cause of the problem, which is, of course, monetary policy instituted by the Federal Reserve, they’re lying to you. They’re lying to you. Lie by omission, people. Come on, man.

But this is the best we have to offer you. You’ve got to be kidding me with a laughingstock of the world. Anyway, look, so that’s my take on this, exactly what you and I would have expected it to be. No different. And I was sitting there, there was one question about a survey, a survey from the Federal Reserve, which really could have opened a door for either one of those things. They’re not human either. To enlighten everyone as to why we’re seeing what we’re seeing here. And again, no mention at all about why their bosses are promising everyone lower rates.

I like that skin to help, because you see, if they brought that up, then maybe people would start to think, well, we don’t really need this. We need the polar opposite of what the Fed is doing. We need the polar opposite of what we’re being promised by Kamala, by Trump, by these other two things here. You understand? You can’t be allowed to understand. Period. Now let’s talk more about that. So we’ve got this ADP jobs report. Now look at the wording here. Cooling. They love this word cooling because it’s very ambiguous. Cooling. US labor market leads to a slower wage increases here.

Look, we’re dead. The economy is dead. The economy’s been dead since the meltdown of a weight. All this is, is an illusion that has been propped up on the back of multiple trillions of dollars in debt, buys a lot of illusion people. You know that. It’s all fake, including the data is fake, although it’s cooling. You can’t make this stuff up the environment we’re in. It’s impossible to do. But again, raising our awareness, understanding that we’re being lied to, lied by omissions here. It’s an incredible thing to witness and no one is willing to call out who the enemy is.

And that tells us who they are. They’re the enemy as well. When you hear again a candidate explaining, well, prices are rising for this reason and blame somebody else for it without pointing their finger at monetary policy, which is a obviously managed by the central banks. You understand that they’ve aligned themselves. They’ve locked themselves in with the Federal Reserve. The Federal Reserve must be presented to the people as being on the side of angels. They’re looking out for you. Henceforth, why Kamala Trump are saying, we promise you lower rates. The Fed’s lowering rates dramatically right now.

They made a promise to – the Fed has promised to lay out their course of rating. They told us what they’re doing. For the rest of this year or next year, lowering rates dramatically, of course, a weaker currency and inflating the world with as much debt as they possibly can do or are called upon to do. And they are being called upon to do that right now by both Kamala and Trump. Make it up. Make any of this stuff up. It’s impossible to do. Now look, we’re also seeing again the crisis to crisis to crisis economies.

Again, why were the laughing stock of the world, this poor strike going on here? It’s not affecting the debt market at all. We’re going to talk more about that in a moment. Again, because investors realize what’s actually happening. Now look, this market needs a catalyst. I’ve been telling you this now for a little bit – well, maybe a week or so. Maybe longer than that. I don’t know. The market is so disconnected from reality here. What we’re witnessing we haven’t seen since the dot-com bubble, a market that has gone up so fast, so rapidly. Again, this is depreciating dollars.

This is obviously the promise of easy money, oceans of it, oceans of it. The promise of, of course, we promise you lower rates. The Fed’s fulfilling that goal. Trump started it. Kamala adopted it. You know how it works. We’ve been over this a million times. It’s interesting. But anyway, that’s just the way it’s playing out. And that should bother you again why there’s been no questions, direct questions to either presidential selectee or the underdogs here. The office of the vice president is so inconsequential. It’s really like I don’t even know why it exists, to be honest with you.

They don’t do a damn thing. It’s pretty obvious. But anyway, no questions at all. None. Zero. And again, the backbone of this whole thing is who really runs the economy. It’s not presidents, obviously. It’s the Federal Reserve in this case. Who runs the markets? It’s the Federal Reserve. Who runs the financial system? It’s the Federal Reserve. Who’s the responsible for inflation? It’s the Federal Reserve. But you’re not allowed to know that. Because again, just regarding these two, Trump and Biden have done all they can to make the Fed stronger. And that’s exactly what we’re going to see, no matter who is selected moving forward.

You understand that, right? I hope you do. Anyway, so regardless of what’s happening here with port strikes and expanding war, the market did nothing yesterday. It barely moved. The debt market is rock solid. We’ll talk more about that in a second. These are stock futures this morning pointed towards a slightly lower open. Nothing is going to get in the way here. The market does need a catalyst to fall. This market needs at least 10%. And I’m telling you at a minimum, okay, the market has gone straight up. You need to kind of find a bottom here and then to go.

That’s where we’re going. The market is going higher. Price action distortions, and I mean price action distortions. People are going to occur here worse than we’ve ever seen before. The propping up of the market via, again, the promises of lower rates, easy money here, currency devaluation. We haven’t seen a damn thing yet. You can throw everything else out. You can throw out port closures. You can throw out war. Nothing. No fundamental factors at all matter anymore. It’s all about easy money. And all this is doing is creating, again, the most profound out of control distortions in the price action of every single asset that you can possibly imagine and then some.

But it’s going to get a lot worse. There is no way this is not going to get worse moving forward. Now, interestingly enough, despite port strikes and the war, the dollar did get a little knee-jerk higher yesterday. It held on to those gains. This is a little bit of a fair trade here, but again, we need a catalyst for this market to fall a little bit. And for me and my lions, we’re using every opportunity under the sun to add to our positions here in this market to get longer the market here. You know what I’m doing? I’m going to tell you again, I’m an open book.

I’m building my JEPQ position. I already built my JEPI. I’m not saying I’m not going to add to it. If I do, I’ll tell you. You know how I operate. If you, again, if you are not subscribed to my newsletter, link in the description of the video, you’re missing out on a lot of information here. Virtually every week I put out some very important information. You got to follow that if you want to bring this all together. And I hope you do. Again, it’s free. I’m not asking for a damn thing. I do ask you to support my work.

First of every month, you’re right. Five bucks. And thank you to those of you that do that. The first of every month I say, hey guys and girls, you know what? You think I’m doing a good job? I work my boat off here for you. I really do. And I present you a lot of free things. The newsletter, the chatroom, which I pay for. I opened up more spots, as you know, just recently for you guys and girls. Looks like some of you took advantage of that and I appreciate it. I don’t want to spend money for nothing.

Do you understand? Anyway, I got your back and you guys and girls got mine and I want to thank you. So let’s move a little forward here. With regard to, again, war expanding, just as you and I expected. Were they or not done? I’ve been thinking more about what I said yesterday. War, Middle East war is going to displace millions of people. And that’s what it’s meant to do, to create camps where people are going to have to exist in unsanitary conditions for a new disease process to fester. They’re using people as an experiment, like petri dishes, to allow something to grow, real or imagined, of course, and more than likely it’ll be fake, of course.

And they’re going to throw this at us here and another reason to pull more cash into the now, to fund this, that, or the other crisis. Again, we can’t function any other way here. Can’t have a budget. All we’re getting is blame from puppet leaders who are leading us to our destruction and people just following along. We’re being disenfranchised. You understand that, right? We don’t matter. Our voices don’t matter anymore. You may think they do. The system is dead. The system that some of you still seem to believe it no longer exists. But again, some of you still latched on to that.

Anyway, look here. MMRI from this morning. I circled that on purpose. The market seems to be very comfortable with this level of risk here. It’s color coded for you, as you can see. The downward trend is fully intact here. And again, you’re not just looking at squiggly lines. This is the Fed weakening the dollar, the Fed buying it all with regard to the debt market tenure year more specifically here. As long as this continues, you can throw everything else out. The market will go higher. Again, we do need a pullback. But the easy money that’s going to get pumped into this, I mean, you can see it here, is it started in June right under everybody’s nose.

You weren’t supposed to know that. But the Fed instituted full-on QE. That’s why we’ve now seen rates drop to a two-year low here in the United States. The Fed’s not cutting rates. They’d make the announcement. You remember that? We laughed about it. We know what they’re doing. It’s too easy. It’s in our face. Anyway, this MMRI, free to you, free to everybody, link in the description of this video. I hope you take advantage of that. Let us move forward. So, obviously, this is going to get worse. Net and Loco, Kukuku over there, whatever you want to call him, he’s vowing now, again, to escalate war.

And of course, we’re going to fund it. You know what we are, what we always do. We’re going to throw billions, hundreds of billions. This is going to be in the trillions. You understand, between the ongoing war here, which is going to expand, World War III is in full swing, Ukraine, it’s going to be in the trillions. Just count on it. They will keep this going on and on, again, as a mechanism to pull cash into the now, to devalue the currency, to make your life harder, period the end. Oil price is spiking again this morning, up another 3%.

Just look it up for yourself. There are over 6,000 products made with crude. This is going to be the blame. Blame the war, okay? Whoever gets sits behind the resolute desk can now use war, expanding war, as an excuse. Oh, it’s not the Federal Reserve that they devaluing the dollar, even though we’re promising you little rates. Oh, no, no, no. It’s the war. It’s whatever they want to throw at us. That’s where it’s going to go. They’re setting it up. You and I spoke about this. Now, here’s something else I want to discuss with you here.

Deteriorating U.S. fiscal deficit positive for gold, duh. All right. Under the last three presidents, we have literally seen an explosion in debt and deficits. You think that’s going to stop anytime soon by some miracle tariffs or whatever it might be? I have to laugh because it’s too stupid. Some people believe it. Believe all you want. It’s not going to happen. We’re going to see government spending skyrocket more so than you’ve ever seen in the history of the world. We’re going to see the Federal Reserve be vaulted higher than now up the pyramid of power, more so than we’ve ever seen in the history of the world.

The Fed is on a fixed course to become the ruler of here in the United States and central banks collectively. The one world government we’ve all been warned about. They want us on our knees. They’re going to bring us to our knees. However, they have to do it. We’re not going to get on our knees. God is the only entity that we are going to get our knees for. The rest of these freaks here, they’re slaves to the system people. Like I said, we’re being disenfranchised. And if you think that any of these puppets are going to help you, you really need to up your medication a lot.

It’s a destruction. We’re being systematically eradicated. The middle class, this is a worldwide extinction level event. And it’s going to progress. There’s just no doubt about it moving forward. So just count on that moving forward. All right, people. Look, I think we covered a lot of important stuff here. I do want to hear from you. Do you think that this is going to change deteriorating fiscal deficits and exploding debt? Do you think that commodities are the place to be in, like I’ve been telling you since forever here, expansion of war? Of course. Keep your eye on this thing.

This is a gift to all of you. The dollar is getting decimated regardless of what we’re seeing here. The central banks are in a race to the bottom. Period the end. We are losing. This is the cause of inflation. But again, you must be lied to and distracted. If you turn on or clicking through the channels and you see a presidential candidate tell you, well, we’re seeing this, we’re seeing inflation because of this, that and the other. Without pointing their finger at the Federal Reserve, you know they work directly for the Federal Reserve. Because again, the Fed must be portrayed as being on the side of angels here.

Market needs to fall, my lions. You know that. We need a pullback. Let’s hope we get one. And of course, a cooling labor market. It’s cooling. No one said I was normal. People, this guy here loves you from the heart with all I got. I mean that. Thank you again for supporting the channel, supporting here, supporting everything that I do for you guys and girls with your love, of course, with your just being there for me across the board. I can’t see that enough. We got each other’s backs and I don’t care what they do.

We can see through the charade that they’re throwing in front of us and we can laugh at it. And we need to do something about it, people. We really, really do. And I hope you’re getting this information out there to raise awareness as to what’s happening to people. They have no idea. They believe the propaganda. They believe the lies. The tell-lie vision is programming them, what they’re seeing. They believe that it’s real. It’s this, obviously, all kinds of subliminal messages going on in here. A way to rewire people’s brains to make them more controllable. To make them, again, have no understanding whatsoever as to what is really going on and why.

Makes sense to you? I think we’re pretty much on the same page. This guy’s going to let you go. I will see you later. 4.05 p.m. Eastern for the live stream. People, I hope to see you there. I really, really do. We’re getting about 2,000 people there. Why can’t we get more people there lately? I want more people there so you and I can interact in real time. I’ll do my best to answer your questions, so I’ll have your questions ready for me. And that’s it, everyone, okay? Until we meet again, take care of yourselves and of course each other.

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