It’s. Okay, everybody, here we go. It’s me, Gregory Manorino. Thursday, October 26, 2023 you know what’s interesting to me? Very, very interesting to me? I’m gonna tell you what it is. We are now witnessing history, and no one even knows about it. You do, but not many other people do. What am I talking about? We are in the biggest, most vicious bear market in bonds that has ever been seen before in the history of the United States.

That’s the truth. Meanwhile, you don’t hear anything about it. Turn on CNBC, Bloomberg, Fox Business. It’s like missing in action. And for a reason. They can’t allow people again to know what’s going on here. They also can’t allow people to know the fact that everything hinges on the debt market, what’s going on with regard to the stock market, real estate prices, interest rates, everything is linked to it.

So you can understand why people are not being allowed to know what’s happening. Again, this is history being made. The most vicious bear market in history with regard to the debt market. Now, another reason why this is not being spoken about again is what you already know. And we have been covering this since time immemorial, my lovely friends. Here the balance sheets of these banks that are loaded up beyond their eyeballs on government debt, which is losing value.

All these institutions are loaded up on government debt, okay? And their portfolios are evaporating. This is a major problem for the financial system as a whole, and this is a worldwide phenomenon as well. Again, you got institutions all over the world, these mega banks, loading up on government debt, which is now toxic. These are toxic assets. How are these institutions going to sell these things at a mega loss? Could you only imagine, let’s just say, for example, bank XYZ wants to unload debt, yielding nothing, in an environment where you can buy debt right now, yielding a lot higher, no one’s going to buy it.

So they’re in a lot of trouble here. On top of that, what’s all the news everywhere. Loan defaults skyrocketing across the board. The financial system is, in my opinion, just gauging from these few things that we’ve spoken about, the worst shape that it has ever been in. Forget about 2008. That’s nothing. Nothing compared to what’s happening here today. But you’re not supposed to know any of this stuff.

Oh, no. You’re supposed to think the banks are healthy and they’re doing just fine, and then get a float out, yellow stained, know, Fed chair thing, vomitous man’s puke that he is, to lie to you and tell you how strong the economy is. And we’re doing fantastic. Meanwhile, go to the Fed’s own website. Do yourself a favor. Go to the Federal Reserve’s own website and look up real GDP.

Real GDP is Plummeting. As a matter of fact, it’s negative. You know, let me tell you something else in case you don’t know this whole new war in the Middle East on top of the war with Russia, Ukraine. It’s funny, and I’m laughing about it, but I shouldn’t be laughing because it’s pathetic. And people are dying by the thousands. The entire United States economy is now war dependent again.

They’re going to sell you a lie. And we talked about this just yesterday. They’re going to tell you, just listen for it. I’m telling you way in advance, just so when you hear this you can laugh about it. What’s going to happen here is you’re going to hear how great our economy is doing. Our GDP is skyrocketing. But what they’re not going to tell you is it’s all about war funding.

Sending hundreds of billions over here, hundreds of billions over there. That’s added to GDP. The war machine, government spending to build up the military, to arm it to the teeth, okay? All adds to GDP. And the longer this war goes on, the more people that die, the higher US. GDP is going to go. That’s how twisted this system is. It’s dependent on death, pain, and suffering. The more of that, the higher US.

GDP is going to go. I want you to think about that. I want you to really think about it. It’s unbelievable. Here something else that you’re not allowed to know, just in case you’re wondering. I’m going to let you in on another little secret here. Why is it let’s just put this into perspective real quick. You and I understand as well as everybody else who follows this blog.

Why is it that debts are ballooning, that deficits are skyrocketing? Because obviously, tax receipts, what they’re sucking out of you and I for representation that we don’t have, is not enough to cover the bill. So where does the extra cash come from to fund everything? One guess, and you better get it right exactly from the Federal Reserve, in this case, or central banks collectively, who are the government of the world today.

And you all know that. So let’s go back to this market real quick. We already know, you and I, we’re pretty slick, the two of us. I’m telling you the truth because we know where the red line in the sand is here. It’s 5% on the ten year yield. Right now, we are just below 5% on the ten year yield. We’re at 4. 97. And to my surprise, of course, I’m joking and to yours as well.

Stock futures are lower this morning across the board, especially the Nasdaq. And I explained this to you again, look, you’re going to get told another fable. Turn on Fox Business, turn on CNBC or Bloomberg or whatever you want. And they’re going to tell you that the selloff in the tech sector is related to earnings. No, it’s interest rates, okay? Again, it’s look here, don’t look over there. Tech sector, as you all know, because we’ve covered this at length, is very dependent on yields bond yields being suppressed here and that’s why you’re seeing this sell off.

That’s what’s actually going on and it’s not done in my opinion. Now we know this 5% ten year yield is the line in the sand. Okay? We’re about at 5% right now, just below it. I’m going to say this too. Let me say this, being that we understand, you and I, that this 5% ten year yield seems to be that line in the sand here. If this gets much worse, we could sincerely see a locking up of the system, which you and I know is coming anyway.

Again, the financial system, the banks, the whole thing is it’s all just a sham on a magnificent scale here and they’re going to tell you how great everything is. But the fact of the matter is we are in a full blown liquidity crisis. Cash is drying up, banks balance sheets are evaporating. People can’t make ends meet. It’s a crazy situation, but they’re going to tell you how great you’re doing.

Again, they float out this freak and that freak to say how great we’re doing. But I’m telling you right here and now, if this sell off, historic sell off, this is history being made in the debt market gets worse and it’s going to okay, at one point again, they’re going to try to stop it. Again, you’re going to see more of an effort, at least in my opinion, to keep bond yields suppressed.

This is central banks buying it all, which is their goal, to be the lenders and buyers of last resort. You all know that. But again, it’s not enough. It’s not enough. So what that tells me being that the US. Economy is now war dependent. It’s war dependent. It’s death dependent. The more people that die, the higher the GDP is going to go because that means more spending, more government spending, which is going to be added GDP.

So more people that die, the higher the GDP is going to go. And again, as I’ve told you, our lives don’t matter at all. We’re just a means to an end and they’ll squash us like bugs. If you’re a member of the middle class, you’re being exterminated on a magnificent scale as well. But that’s a whole other conversation that we’ve had many, many times. But here’s what I’m going to tell you here.

Keep watching the ten year yield. Better yet, the MMRI Manorino market risk indicator. Free to everybody. Link below. Watch this thing, okay? If this thing keeps going higher, it’s a very bad sign for where things are going to go. And we can expect a locking up of the system to occur. It’s going to happen just a matter of when. A locking up of the system means that transactions stop.

You can’t get cash out of your bank. Your ATM cards don’t work. Your debit cards don’t work. Your credit cards don’t work. It’s inevitable. I mean, this is really what was going on during the last meltdown. People don’t know that. You see, the real reason why the Federal Reserve had to inject billions of dollars into the system was to free up the credit markets. That’s what it was all about.

On top of having to reprop up the stock market, they had to get the flow of credit moving. That was QE one. Okay. The Tarp money, the emergency funding that Ben Bernanke said to Congress that if we don’t do this by Monday, this is over the weekend, we won’t have an economy. That’s because he knew again that the system was locking up. That’s going to happen again, and more so to a much larger degree.

Again, we are in a liquidity cris. We are in a credit crisis on an unprecedented scale. And this, my friends, is going to get much worse with regard to the market, it’s all dependent on what happens here in the debt market, as everything else is. Again, everything hinges on it. This is a market of IOUs. The debt market. Someone asked me yesterday during the live stream, hey, Greg, what’s the debt market? I’m going to tell you what the debt market is.

It’s a system of IOUs or promissory notes. That’s all it is in reality. It’s not on the elemental chart. It doesn’t even freaking exist. It’s all promissory notes. I promise to pay you this in the future if you give me this now. And it’s a liquid, and it’s drying up rapidly. The faster that yields are rising, the more liquid the system is becoming. It’s pretty obvious. All right, people, look, I’ve covered a lot here with you.

Hope you got something out of this video. Hope you get something out of all these videos here. We got so much more to talk about. Honestly, it’s just crazy. But we’ll cover this later on, too. So I will see you later. Four, five p. M. Eastern Daylight time for my live stream. Have some questions ready for me. I look so forward to the live stream. I really, really do.

These pre recorded videos, oh, they’re lovely and fun, but nothing like the live stream. I mean, I love interacting with all of you. It’s kind of the highlight of my day. All right, people, I will see all of you later. As I said, please give this video a thumbs up. I really appreciate it. It gets the video out there and comment. I want to hear from you. All right? I do read through the comments.

I may not answer them, but I read through the comments. I want to hear what’s on your mind as well. It gives me an idea of where I need to go with regard to talking about things that you want to hear about. Understand? All right, love you lot, and I will see you later. Bye. .