ITS GETTING MUCH WORSE FASTER. NOW MORE THAN EVER! HOARD GOLD SILVER COMMODITIES | Gregory Mannarino
Summary
Transcript
Okay, everybody. Here we go. It’s me, Gregory Mannarino, Wednesday, May 22nd, 2024, pre-market report. First off, look, I want to just apologize for getting so bent out of shape yesterday. This stuff sometimes really gets, it gets to me, big time. When you hear that the stock market just hit a new, old-time record high, meanwhile, you have hunger in this country, the United States of America, skyrocketing. With homelessness, skyrocketing. If that doesn’t get to you, then I don’t know what will, okay? It’s a twisted system. This market is absolutely rigged, completely fake, no bearing on reality at all.
The disconnect between the market and the economy, the gap that I’ve told you would get wider and wider and wider is just beyond, oh, off the scale. And this mechanism is going to get worse. The faster the economy and the people with it fall into an irrecoverable black hole, the higher the stock market is going to go until it doesn’t. Until it doesn’t. We now exist in the most dangerous environment in world history. And I’m not referring to war which is expanding all over the place, funding for war expanding all over the place, people dying, human suffering at historic levels here.
I’m talking about what’s going on here. And they’re throwing it in our face here. They’re starving us. They’re creating homeless people here. We’re going to march into a resource problem. This debt hyper bubble is the greatest threat to humankind, bar none, period, the end. And it’s no accident that we’re here right now. Speaking of inflating debt, just in case you were wondering here, so look, I’ve explained this to you. So the Biden administration to forgive, notice the word here. The wording is important. Another 7.7 billion on top of the tens of billions already. This is not forgiven.
This is on you now. The moment that it’s quote unquote forgiven, it goes immediately on to the national debt. You don’t believe me? Look this up for yourself. Okay, this is not forgiven. We all owe it now. People would be outraged by this in times past, but not anymore. The public has been dumbed down enough that they can do whatever they want, whenever they want, especially when they use words like forgiven. It’s not forgiven, okay? There’s no free lunches here. In case you were wondering if there’s a free lunch. No, there’s no free lunch. You owe it now.
Okay, so that’s just the way it is. Our country becomes more indebted, which is the goal here anyway. Look, right now, the United States is obviously the laughingstock of the world, the largest debtor nation the world has ever seen. And our debt is ballooning at a pace that we’ve never seen before. Global debt ballooning at a pace that we’ve never seen before. This is insane. Just a little piece of more insanity here. So this is CNBC. Fed officials seem like they have no idea of what’s going on. They have a very clear idea of what is going on.
This is deliberate. The transitory, the temporary, the fact that the Fed is inflating right now at an epic pace, adding to the money supply, the debt ballooning. This is all part of the plan. These people seem to be a little, you know, they don’t know what’s going on here. It’s these people that write articles like this. It’s not the Fed. The Fed has a solid plan that they have put into place a century ago, over a century ago, central banks, okay? To one day become the lender and buyers of last resort, to own it all, to create a slave planet, slaves to their system, and that’s exactly what we have right now.
That doesn’t upset you. I don’t know what will. Now look, what else did I write here? Oh, just the stuff I write down. Now more than ever, you need to hoard gold, silver, commodities. Period the freaking end here. This situation of ballooning debt, hyper ballooning debt, so-called forgiven debt, which is not forgiven, goes right on to the debt that you and I owe. Government debt, which is the Federal Reserve anyway, you all know that. So the situation is pretty dire across the board, and that’s why, again, look, you and I, we have no representation. I don’t care who they put behind the Resolute Desk.
And I’m going to tell you again, it looks clear to me as day, all right, that the current brain dead, and that’s what they need. They need a brain dead puppet to sit behind the Resolute Desk. He’s going to be the president, again. That’s how it looks right now, and it would take something monumental to change. And he can make any difference anyway, even if Trump gets back in there, because he’s already told you what he wants. A weaker dollar, oh, that’s great for you, right? How about no? Suppressed rates, oh, that’s great for you, right? How about no? It’ll sure as hell make the 1% and 2% is even richer.
But he’s going to help you. Anyway, with regard to the market this morning, we have a problem. We have a problem and the problem is getting worse. We’ve been watching this lately, okay? I outlined this for you. This is the MMRI from this morning. It is rising. On the back of this, stock futures are lower this morning. Market’s not liking where risk is going. It looks like we have bounced off of that support line. Do you see that? All right. Let’s keep our eyes on this. The higher this goes, the market’s not going to get happy, unless, of course, they float out some Fed freaks to try to talk the market back up, because that’s what they always do.
They always do that. Jaw bull in the market. Jaw bull in the market. And all this means here is the price action distortions are going to get even worse. No matter how you want to look at it, whether we break down below or we go, you know, which I feel is the more than likely situation here. Right now we’re bouncing. You know, we’ll see where this goes if the Fed gets in here and they have to. If they want to maintain the illusion of the market, which I think they will for the presidential selection here, okay, they got to buy more debt.
China’s company. You know, speaking about debt, how many of you are aware of this? Over a third of US debt is owned by foreign nations, and that’s what it looks like here. Okay. The US debt is a terrible liability. And again, our number one and number two export products to the world got to be propaganda. Number one and number two is inflation. The world, we get to export our inflation, believe it or not, to the rest of the world via the Federal Reserve’s mechanism here. They got us by the throat. They got the world by the throat of having the World Reserve currency in case you haven’t noticed.
The world is backing off of this right now. The status of the US dollar as the World Reserve every day is diminished. Okay. And that means the prospect for more war, more death, more pain, more suffering on an epic scale is going to get even much, much worse. Homelessness is going to explode even higher, of course. Indebtedness is going to explode even higher. And again, this whole issue that I’ve covered, people, I just don’t just glaze over what I’m about to tell you again because I’m going to say it. The issue with the smaller and the regional banks, their balance sheets are exploding right now.
This is being hidden from the public, hidden from the public. Even the major institutions got the same problem. Bad loans on their balance sheets is ballooning another, we’re already in a crisis of epic proportions with regard to the financial system. But you see, they have a plan. The plan is to consolidate the banking system into the hands of fewer and fewer individuals. The smaller institutions are going to fall like dominoes. The larger institutions are going to buy their assets for pennies on the dollar in a way to kind of make the larger institutions whole again. You see how this mechanism works? But in the end, who’s going to pay for it all? You are.
As always, just like this. You’re paying for this. Every time they forgive, there’s no forgiveness here. Again, remember what I’m going to tell you. There are no free lunches on Wall Street, and this is Wall Street as well. And of course, this ballooning of the debt makes the Federal Reserve even more happy because now we’re more indebted to them, their system, that we are forced to participate in. And you can’t possibly make this stuff up. So look, with regard to this market this morning, stock futures are lower. They’re lower on the back of this. Rising risk.
We’re bouncing off that support line. As I said, keep your eyes on the MMRI, people. Link in the description of this video. It’s free to everybody who wants to use it. Stock futures lower. Dollars stronger. Ten-year yield higher slightly this morning. Cryptos relatively flattish under a little pressure. Bitcoin still around 70,000. Gold and silver under a little pressure. Good. Because this is, again, we’ve had a hell of a run-up. You need to pull back a little bit to make a run higher. Let me explain this to you again real quick. Okay. There’s no price discovery here with regard to precious metals here.
It’s all being rigged. It’s a twisted system. It’s upside down how the hard asset is being forced to derive value from a derivative. It’s supposed to be the opposite way. This is how they rig the metals market. Actually, the whole commodities market is rigged that way. This is how they can extort more of everything out of us here by twisting our minds. They think we’re too stupid to understand what’s going on, but we’re not. Again, this whole mechanism of price discovery is gone. It’s gone right now. There’s no connection to reality. When you have the central bank here, the Fed in this case, keeping rates suppressed for well over a decade here, creating distortions across the spectrum of asset classes, and this just creates opportunity, as I say all the time.
Anyway, look, ponder the things I’m speaking about here, people. We are so far beyond hyper bubble status right now in the debt market, and this is the greatest threat to humankind bar none. I want you to know that. The debt market meltdown is going to cause a resource problem on the biblical level, and people are going to be starving in the streets. That’s what they want. They’re trying to extort more control out of us by making us hungry. Hunger skyrocketing, 20-year high here in the United States, homelessness, beyond belief right now, and I’m sure you’re seeing it in your neighborhoods too because I see it where I live as well.
I just moved here to Florida, as you know, so I’m just starting to get to just this stuff. When I was in Vegas, there were homeless camps, homeless camps, tent cities being built up. Hoovervilles all over the place. Maybe some of you aren’t familiar with Hoovervilles. Maybe you want to look that up because that’s where we’re going, and if it doesn’t upset you that the mainstream media is saying that we may or we just might be going into recession. We’re in depression. For some, it’s hardcore, and what you see now is nothing, people. How do we know that we’re going to be right? Because look at the track record that you and I have, this channel.
We’re right 95% of the time here. I think that’s a pretty staggering record. All right, people, look. Again, this stuff gets to me once in a while. Whatever, man. We’ve got to look out for each other, as always, and I know we’ve got each other’s backs. I’ve got your back. You’ve got my back. This is the way it’s going to go. So as I said, ponder these things, people. Get this stuff out there. Share this video, please. I’m going to urge you to do that. If you’ve got something out of this, please give this video a thumbs up.
Allow the algorithms to pick up the video. That means people will see it. If that’s the one thing, please contribute that way by giving this video a thumbs up. We’re making a difference in the world. I know we are because they hear from all of you. I wish this channel was 10 times bigger, and we could really make it dented in this. But right now, I mean, it would have got a quarter of a million subs. It’s a joke. Like I always say, if I were licking toilet bowls and eating Tide Pods, I’d have 10 times the subs that I’ve got now.
This is where people are so deceived and so distracted. They don’t know what’s going on. And they can’t handle the truth. Believe me, I read through the comments. When I come out here and I tell the truth, I become public enemy number one. You want to become public enemy number one? You tell the truth because people can’t handle the truth. They’ve been so used to being lied to from the moment they are born. Told every kind of fairy tale that isn’t true. And then when they find out how harsh reality is, they don’t want to hear it.
And they turn on you. All right, look. Love you a lot. I will see you later. 4 or 5 p.m. Eastern for my livestream. People, until we meet again, take care of yourselves and take care of each other. [tr:trw].
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