The Entire Financial System Is CRACKING! AT LEAST ONE MAJOR BANK IS GOING DOWN… Mannarino
Summary
Transcript
The ten year yield has come down. The relative strength of the dollar has dropped, and the MMRI is below 300. Imagine. Look, I don’t think this is a major surprise. I don’t think it’s over, honestly. But it’s just so in our face. What is going on with this? It’s just such a rigged market. It makes you want to, like, I don’t know, puke or something, I suppose. Here, this appears to me as direct intervention by the Federal Reserve.
Who’s buying all the debt? Who wants to be whose goal is to be the lender and buyer of last resort? It’s the Federal Reserve. It’s central banks collectively. This is what they have been working towards. And you all know that. To see a move like this in such a short period of time with regard to the ten year yield, what other entity has that kind of firepower to buy so much debt that it would push the yield curve down? We know who this is.
It’s quite obvious. We have discussed repeatedly that the Fed can do three things, okay? One, buy more debt looks like it’s going on right now. Weaken the dollar, find a way to do it. Well, that looks like it might be going on right now. Or buy the market itself. And I think that’s going on, especially here in the tech sector. The Fed likes to prop it up. All right, so with that said, let me just clarify, I guess, my position here.
We’re not done, okay? The issue with global debt is going to it’s already insurmountable and it’s going to get much worse moving forward. If you think that the current debt and deficit situation is bad now, well, then I think you’re in for a real shocker moving forward. There is no doubt about again, this is their goal, you know that, to continue to inflate. Where does this tell Greg manorino? One more time.
Where is the one place, the one and only place where a central bank’s power resides exactly its ability to inflate, period. And unfortunately, we’re going to see more of that. So again, on the back of this debt buying extravaganza, pushing the ten year yield lower, the weakening the dollar here and the Dmmri coming down below 300. Let’s see if it lasts today. Stock futures, at least as I am doing this video blog, trading stock trading doesn’t start for about an hour and seven minutes from the time I am doing this lovely video block.
Stock futures are higher on the back of the weaker dollar, gold and especially silver are getting bid higher. Cryptocurrencies are kind of mixed this morning. Big run up yesterday in crypto. So we’ll see where that goes. Crude oil it always goes back to crude oil. People. Crude oil is continuing to get bid higher where the top here is. Look, I hear from a lot of you every day and with your targets from some pretty intelligent people, people that are in the market, people that trade the market, energy traders.
And there’s a lot of variation in here. But the consensus with crude oil, again, not just from me, and I’ve been saying this really honestly. We have covered this before anybody else that crude was going to continue higher $100 by the end of the year. Some of you think it’s going to be much higher than that. It would take a pretty monumental event, in my view, to push crude oil higher than 100 before the end of the year.
Is it possible? Absolutely. Frequently anything is possible in this environment. Here. Again, look, I know you get it, but let’s just cover this. This entire thing has no bearing on reality. The price of debt here, the artificially suppression of rates here since the last meltdown, going back to what j. P. Morgan said yesterday, that the stock market looks a lot like 2008, although I think they’re way off base.
The stock market, the distortions that exist here today and you know this already are beyond anything we’ve ever seen before. But prior to the meltdown of eight, the economy was doing a hell of a lot better than it is now. The debt situation was not even close, not even close to where we are now. And things are monumentally worse. And with regard to the banks, which are, in my opinion, in a lot of trouble here, going back to no deposits, no loans, no deals.
And on top of that, withdrawals, people believe what I’m telling you here. You’re not being told what’s going on, but I’ve enlightened you all as to what is happening here. Withdrawals from these institutions is at a historic high. People are pulling their cash out. They can’t let you know that you will never hear this again. The mainstream propaganda, they have their own narrative. Everything is fine. It’s perfect and beautiful.
If they were to allow the general population to know that people are pulling their cash out of these institutions like they’ve never seen before, there would be full blown bank runs. They can’t allow this to happen here. And you know the story. Like I always tell you, nobody knows until everybody knows. But you got to get yourself in the right spot here. Again, my take on this is very, very simple.
I understand that we are forced to participate in their system, but that does not mean that you need to keep excessive amounts of cash in these institutions if you have it, okay? Most people don’t. So keep in these institutions. Only what you need. The rest find another place for it. People, I think you personally should be looking into commodities. You all know that risk on is going to turn risk off and cash is just going to move.
It’s just a simple understanding of market dynamics. And this is not just something I made up out of my head. This is a phenomenon that has occurred throughout history, the history of the markets at least. Cash moves through the markets in relatively predictable patterns. Risk on suppressed rates. Cash moves into the stock market. And the opposite happens when we get risk off. We’re dealing with so many issues here.
A Hyperbubble in real estate, a commercial real estate nightmare. And I’m telling you a nightmare that’s going to unfold. And I think banks are going down. Some of the big banks are going down. Me? I’ve been telling you my take on this. If I had to pick one major bank that’s going to go down, it’s bank of America. Bank of America does not look pretty to me from any way you want to.
The whole banking system right now does not look pretty to me. It’s insolvent. It works in a perpetual vacuum and there’s no reserve anymore. Do you understand that the Federal Reserve has lifted the reserve requirements of these institutions. Your cash is not there. Again, turn on your computer. Go access your bank account. You see those digits? They’re not there. No. It doesn’t exist. It’s not on the elemental chart.
So anyway, look, I don’t think, and I believe most of you are on the same page as I am with regard to the financial system which is run by the central banks. Again, would you be surprised to understand that the system must operate in a perpetual deficit? That cash must be pulled into the current situation in multiples just to maintain where we are. Does that sound like there’s anything that is sustainable by any means with the debt here in the United States going up at a billion dollars per hour? Does that sound right to you? I would hope you would say no.
The system is toxic. The system is just so absolutely twisted. But you will know that anyway. So what’s the situation here? Pretty much okay, we have what appears to be some intervention here by the Fed. Buying more debt, weakening the dollar, probably buying stocks as well. You and I have discussed this phenomenon for a while now, that this could possibly happen. But does that mean it’s over? I don’t think so.
You still have nations around the world dumping US. Debt faster than they ever have before. And the Fed again must buy it. I mean in every market there is a buyer and a seller. A seller and a buyer. The Fed is fulfilling their end game to become the buyer and lender, obviously of last resort. You understand this is something we have discussed for over ten freaking years. And now you can see it in real time.
So with that said, keep your eyes on, I’m going to say the MMRI, which is an equation which involves the US dollar and the ten year yield. Right now, again, as I just looked at it, we are below 300. Here’s a question for you, the question of the day. Do you believe that the MMRI is going to close out this week above 300? Again, today is this is Friday, right? We’ll talk about it later.
So do you believe the MMRI is going to close above 300 at the end of this trading day today or below 300? Do you believe, do you think the Fed is going to buy more debt here, weaken the dollar here, buy the market here? I’ll tell you, people, my stance has been pretty straightforward, that they would keep the illusion of the market real until the selection cycle, the selection of the new president, which you have no say.
So you understand? That’s kind of my take on it. I still believe they’re going to try to prop this up, but we’ll see. We’ll see how it plays out. But I do want to hear from you on these things that we cover every day. I want to thank all of you again from the bottom of my heart, top of my heart, size of my heart, for all your support, your friendship, everything.
People are incredible, honestly. And I love every single one of you. I will see you later. Four five p. M. Eastern Daylight Time for the post market report. Have your questions ready for me. I will do my best to answer as many as I can. Okay, I’ll see you later. Bye. .
