Okay everybody, here we go. It’s me, Gregor Manarino, Wednesday, October 16th, 2024. Pre-market report, no tie, stepping out of Babylon just a little bit, again, as I did yesterday. Anyway, look, man, let’s focus on what’s happening here. It’s just too obvious what we’re seeing. And there is, to say the least, multiple issues at multiple levels. Let’s start off with this. The market is a fickle thing, and it appears to be pricing in another Trump presidency, and I want to talk about that a little bit. But before we even go there, let’s talk about another phenomenon that you and I said would happen, and it is.

It’s an incredible thing. If you recall when this whole thing started with the Federal Reserve getting into the market, this started back in June. Back in June, right under everyone’s noses, right in everyone’s face, the Federal Reserve began a new, quantitative, easing program. I mean, they can hide things like this right in your face. We witnessed a massive debt-buying campaign by the Federal Reserve. Not just that, but they got into yield curve control, reshaping the entire yield curve. We watched bond yields crater. We watched interest rates drop, but the Fed wasn’t cutting rates. No, no, no, no.

You can’t make it up, but that’s exactly what was going on. Now, with that said, we outlined how we would see a multiples expansion cycle begin, and that’s exactly what we’re witnessing. It’s created, look, you want to talk about a big, fat, ugly bubble. Do you remember that? Prior to Donald Trump’s first presidency, he said the stock market was a big, fat, ugly bubble. It all changed, of course, when he got the seat behind the Resolute Destin. He wanted it higher and higher and higher, wanted negative rates, cold for negative rates, weaker currency, was playing right into the Fed’s plan then, and the market took off.

Multiples expansion. We’re seeing that now, which means basically investors are willing to pay pretty much anything to own shares of stock. It’s a game. It’s a way that the Fed deliberately manipulates the market. Again, when the Fed gets in here and artificially suppresses rates and killing the currency along with it, it just opens up a door for cash to make its way into the stock market. Henceforth, why record, record, record, record, and we are not done with regard to record highs with this market. Now, that also means other assets are on sale, you know that, commodities across the board, cryptocurrencies as well, and we have to talk more about cryptocurrency in just a little bit.

Now, this mechanism here of multiples expansion has now created, and I want to show you this, what I believe, and you know, it’s just in your face, the biggest, most massively distorted market in the history of mankind. It’s a bubble on every level. Now, this is David Einhorn. I want to read this to you a little bit. This is Market Watch. So Einhorn says, it’s the most expensive stock market since at least 1996. David Einhorn, multi-billionaire hedge fund manager, said in a recent interview that the stock market is the most expensive that he’s seen since at least 1996.

Now, hold on a minute here. Einhorn is wrong in one aspect. This market is the most expensive in history. It is the biggest bubble in history. Does that mean, does this mean that this thing’s going to crash anytime soon? Because I know, again, this was the month right here and now that we were supposed to crash. We hear the same thing every year. October phobia can’t happen with what the Fed’s doing here right now. They’re buying it all. They will not allow the market to drop in any significant way prior to the selection. You all know that.

Look, there’s no connection at all and you know this between the economy and the market. I mean, the worse off, and you know this, again, that the economy gets, the higher the market’s going to go because why? It’s the same two factors and there’s just two factors which are driving the market higher, which are killing the economy. You all know what I’m about to say, but I’m going to say it anyway because we’re getting a lot of new people here. Artificially suppressed rates, which means obviously a weaker currency, are massively stock market positive, but they’re massively negative for the economy, period, but no one’s going to tell you that.

You’re not allowed to know this kind of stuff, but it does help the Fed fulfill their goal, period, the end. We don’t matter anymore. We’re a means to an end and you all know that. Now, on the back of that, speaking about economic news, how about this one for you? Weekly mortgage demand tanks 17%. People can’t survive. They’re tapping into their investment plans. They’re 401Ks declaring a state of emergency. They can’t survive. Look, people, I’m going to tell you again what I’ve been telling you for the longest time here. It’s not just the world economy that is cratering at its fastest pace on record.

This is, again, a byproduct, or should I say a side effect, of central bank monetary policy. Inflation is a product of monetary policy. It’s not any president’s fault. When you hear the blame game, well, it’s Trump’s fault because he borrowed more into existence or at least helped the Fed more than any other president in US history. It’s not Trump’s fault. Oh, it’s Biden’s fault while we’re seeing inflation. These are people that have no idea or clue. They’re clueless as to a president doesn’t have that power. A president can’t stop or create inflation, although Trump is saying that right now.

If he gets selected or elected, he’s going to stop inflation in its tracks. That’s what he said. It’s a lie. You know it’s a lie. No one’s going to call him out. Not any one of his followers, of course, because I don’t know why. There’s no accountability anymore. This is how they can get away whatever they want these days here. No one’s going to call out Kamala either. It’s just the way it is. It’s divide and conquer mechanism. You all know that. We cannot elicit change anywhere because we can’t come together because we’ve been divided. We’ve been popitized.

The population has been turned into zombies. Honestly, the zombie apocalypse is real, and you’re witnessing it right now. Anyway, now with regard to the market here, and look, this multiple expansion cycle that were the most expensive market in history, we got this, people. I’m going back to my MMRI, which is free to you and everybody else. Look at this downtrend. Are you watching the 10-year yield this morning? It’s down to around 4%. It was 4.11 recently. This is the Fed. They’re buying all the debt. A rebalancing had been going on here. That’s why we’re witnessing this rising in the 10-year yield, this sell-off in the debt market cash, getting ready to make its way into the stock market that, yes, is just the biggest bubble in the history of mankind right now.

It’s going to change. This is going to change, but not anytime soon. After the selection, people, I’m telling you right here and now, we’ve got to reevaluate, and we will. But what do we know is going to happen here? Look, if you believe that debt is not going to hyper balloon from here, and you think that this puppet is going to change it, or this puppet is going to change it, well, then you’ve been brainwashed, obviously, to a degree that your parents never could have imagined that you would turn into such a zombie.

It’s impossible, but that’s where we’re going. Hyper debt is going to push the market higher until it doesn’t, and again, we have this. Look at this downtrend. Yes, we broke out above, but look, we’ve re-entered this screaming downtrend here. Now, look what’s happening. Look a little closer. It’s starting to wane off here, just so you know. And there’s … anyway, I’m more of a big picture guy. This is what I like to focus on. You all know that. So this means, again, we buy it all, every dip that comes along. Commodities on sale and cryptocurrency. Hold that, though.

Let’s talk about cryptos a little bit. Alright, so, you know, let’s start off with this. So this is Forbes with Donald Trump’s new coin here, which at first was selling like hotcakes, kind of waned off towards the end of the day, but there’s a reason for that. We’re going to talk in a moment or so anyway, Forbes. Donald Trump declares crypto the future. Unfortunately, crypto, blockchain, a tokenized system is where we’re going, man. Don’t you like this digital rendition of him? This is one of his NFTs, by the way, with the B right there, Bitcoin.

What did I write here? Oh, the initial offering of this yesterday, again, it sold pretty profoundly initially that it kind of waned off. But why? The demand was so great for Trump’s crypto token here, the website wasn’t able to deal with it. It shut down several times. But apparently, this is going to be fixed. And obviously, this initial offering to only accredited investors, and that bothers Greg Manarino. It really, really does. Because again, the initial investors in anything, especially something like this, they’re going to make out like bandits. Then when it’s an offer to the public, like 20 billion of these coins, then of course, the public always gets hold in the bag.

But it’s always the initial people. And what still bothers me about this is Trump nor his family are disclosing how much they own of Trump coin. And of course, that means they’re going to make out like bandits as well. It’s theft here. Let’s just call it what it is. Now, look, let’s look at what’s happening here to cryptocurrencies across the board. Bitcoin, this is again the Trump effect, in my view, off of the back of this. And again, look, cryptocurrencies, people are going much, much higher, much, much higher. You all know that. We haven’t seen anything yet.

I did an interview yesterday with Corey Kostis. I hope you got to see it. We talked about a lot of this stuff. With regard to commodities, people, you already know my take on this. We are going to get a one-to-one ratio with the Dow gold at one point. Where’s the bottom of the Dow? We don’t know. I say the bottom of the Dow is somewhere around $8,000. $8,000, that’s how dramatic the eventual crash of the stock market is going to be. But it’s not going to begin or end in the stock market. You know that. It’s going to begin and end in the debt market, which is the driver of this entire thing.

We’re on the same page here. A one-to-one gold, Dow, I think this is just a lock. And what that means for silver, at least, at a minimum, a 15-to-one gold. So just do your own math here. You can see what I’m talking about. And all this is, is a movement of cash through the markets. You know this. Cash moves through the markets in predictable patterns, and a lot of this is going to go into cryptocurrency. It is going to go into cryptocurrency. Now, this market right now, very fickle, in my opinion, is pricing in another Trump presence.

It doesn’t mean it’s right now. It’s pricing it in. And how do we know that? Again, on the back of this, cryptocurrency now catching a bid pretty strongly across the board. Here’s the other clue right here. Donald J. Trump stock. This thing was in free fall. Free fall. Recently trading at about 12 bucks. It’s now at about $27. I said from a while back, well, first of all, this is a $9 stock. It’s $27 right now. It’s a $9 stock by any metric you want to look at, period. But I said there were two reasons, two, to own the J.T.

stock. Number one would be if you believe that Trump is going to be selected. Then, of course, this is going to take off. Number two, if you believe that, and this was a rumor going around for a while, that Elon Musk was going to buy it. Those are the only two reasons. Now, it appears that, again, we watched Donald J. Trump’s stock go from 12 bucks, what did I write here, 12 bucks to $27 in a very short period of time. If Trump is selected, and it looks like the market’s pricing it in based on the performance of his stock, looking at cryptocurrency here, and, of course, Trump declaring that cryptocurrency tokens are the future.

Again, not constitutional money. It’s crypto playing right into the Federal Reserve’s plan here to institute a tokenized system. You all know that. Anyway, so let’s step back again. How will the market perform under another Trump presidency? First of all, Trump or Kamala are going to help the Fed fulfill their goal. We all know that. They’re selling you the Fed’s plan now and promising lower rates. Period. That means vast debt expansion. Vast debt expansion. Of course, you know how this works. The more debt a central bank can issue or is called on to issue, the stronger they become, the weaker we become.

The solutions are simple. The polar opposite of what the Fed is doing right now. That is, we do not need lower rates, even though Kamala and Trump are promising us this, which, of course, means a weaker currency. These are the last things we need. This is the last thing we need, too. We do not need another crypto added to the batch that already exists. But again, this is a way for Trump and his family and the accredited investors to make a gazillion dollars off of the unknowing. I think it’s a terrible investment. That’s just my take.

And I wouldn’t buy it. I wouldn’t buy this stuff anyway. I am not going to change my perspective on cryptocurrencies. You all know that. I look at the market cap of crypto right now. It’s just so thinly held. Again, the entire value of the space is about one down component. So that’s how I look at it. Anyway, look, man, this is just too simple. With the market now pricing in a Trump presidency, it may change. It doesn’t mean this is going to happen. When Biden was running, running. When creature one Biden was running against creature two Trump, it was a lock.

Trump could not be not selected in this environment. Then when he got up against when creature one Biden dropped out, you know, the market didn’t know what it even me. I know that a lot of guys, including Joe Cilente, believe Kamala is going to be selected here. I’m looking for clues in the market here. And I can’t say one way or the other because the market is a freaky thing to try to read. It really is. Understanding the flow of cash through the market couldn’t possibly be easier. But when you see movements like this in the market with regard to cryptocurrency, especially in Donald J.

Trump’s stock. Donald J. Trump’s stock, to me, is an indicator of where the market believes who’s going to be selected. Again, this was cratering to the floor on its way to my $9 target. $12 is where it was. Then all of a sudden the market said, hold on a minute. It looks like Trump may be selected here. Let’s start buying. Only two reasons to own this stock. It’s a dog. It’s a dog of Wall Street, the laughing stock of Wall Street, to be honest with you. But again, there are those who believe Trump is going to be selected.

That’s the number one reason to own the stock, DJT. Number two, if Musk would buy it, the soon to be trillionaire, ultra super elite, but he’s on your side. He’s being put in Trump’s cabinet so he could cut government waste. No. The AI expert of the world is being put there. Is Trump’s right hand man to be the government waste? The bizarre no is to help usher in the tokenized system because it’s the future. Anyway, man, that’s where we’re at. So we’ll see. We’ll see where this goes. We really got a couple of weeks for the selection.

Doesn’t matter to them. From a market standpoint, I would expect, again, look, what do we know? We know Trump loves low rates. In fact, he wanted negative rates. You don’t believe me? Look it up for yourself. Which means obviously a much weaker currency. Massively positive for the stock market. Massively destructive for the economy. But the illusion of the market would be rah, rah, rah. Look at the stock market. Economy must be strong. We’re all rich. Remember these kinds of things that were coming out of its mouth then? It, Trump, it. Camels in it too. You won’t know that.

Look, people, my job is to keep you ahead of the curve. And I think I’m doing a damn good job at that. So what we’re going to do is forget whatever camp you may have been placed in. You’ve been brainwashed into. I’m in the red side. I’m in the blue side. We should be on our own side. You understand? So what we need to do is understand the system is being obviously weaponized against us. But we can turn those tables. For every strategy, there is a counter strategy. Our strategy is not going to change. We’re going to buy every dip in this market.

We’re going to load up on commodities. And yes, cryptocurrencies. Period. With regard to cryptos, I think the crypto space would perform better under a Trump selection than a Kamala selection here. Forget about everything else. Just talk about the backbone of the system, which is the financial system, which is not run by presidents. It’s run by central banks. But they can try to convince you that they’re going to stop inflation in its tracks. That’s what Trump said yesterday. And the joke is on you. He thinks you’re stupid. I know you’re not stupid. I know how smart you all are.

But good. We’ll take advantage of that. If he thinks you’re dumb, let’s play dumb. You know what I mean? And let’s just turn the tables on the whole damn thing. Because that’s what we’re doing. That’s what I’m doing. And that’s exactly what you’re going to do, too, because you are one of my lines, which means I will take care of you. You understand? All right, look, man, we’re going to end this here. So that’s the way I see it. I want to hear from you on all this stuff. Look at this head. Look at this.

This is how strong our economy is. We’re being wrecked. We are being wrecked. And be very careful with Boeing, people. Very, very careful here. All right. I want to hear from you. What do you think about what we’ve discussed here? Are we going to change anything? No. We’re on target. We are waiting very patiently, and we’re hedging ourselves right now by bending against the system, which is being hyperinflated, and it is not going to stop, whether it’s Freak 1 or Freak 2, who is selected here. I don’t know who’s going to be selected here.

I’m telling you the guy’s honest truth. I don’t know. Market seems to be pricing in a Trump presidency here, with crypto taken off, with Trump’s crypto project now in the tokenized system here. I mean, it’s insane. But we have to be ready for anything, always. And I think we are. And again, watching the dead market, we don’t have to guess, man. We don’t have to guess. We got the MMRI telling us what to do. As long as this trend is intact and it looks like it’s going to be, we buy it all. We buy it all.

Make sense to you? All right. I’m going to let you go, like I said. Love you all from the heart, people. I really mean that. I will see you later. 4.05 p.m. Eastern for the livestream. Have some questions ready for me. Let’s do this, man. We got each other’s backs, and that’s the way it’s going to stay. It’s not going to change. You understand? All right. So until we meet again later, take care of yourselves and each other. [tr:trw].

See more of Gregory Mannarino on their Public Channel and the MPN Gregory Mannarino channel.